Document:

EX-10.20

 Exhibit 10.20 

LEASE AGREEMENT 

THIS LEASE AGREEMENT (this “Lease”) is made this 29 day of March, 2013, between ARE-TECHNOLOGY CENTER SSF, LLC,
a Delaware limited liability company (“Landlord”), and CYTOMX THERAPEUTICS, INC., a Delaware corporation (“Tenant”). 
  

					
	Building:	  	343 Oyster Point Boulevard, South San Francisco, California
		
	Premises:	  	The first floor of the Building, containing approximately 24,900 rentable square feet, as determined by Landlord, as shown on Exhibit A.
		
	Project:	  	The real property on which the Building in which the Premises are located, together with all improvements thereon and appurtenances thereto as described on Exhibit B.
			
	Base Rent:	  	Months 1 – 12:	  	$2.35 per rentable square foot of the Premises
		  	Months 13 – 24:	  	$2.55 per rentable square foot of the Premises
		  	Months 25 – 36	  	$2.75 per rentable square foot of the Premises
		  	Months 37 – 48:	  	$2.85 per rentable square foot of the Premises
		  	Months 49 – 60:	  	$2.95 per rentable square foot of the Premises
		  	Months 61 – 66:	  	$3.05 per rentable square foot of the Premises

 Rentable Area of Premises: 24,900 sq. ft. 

Rentable Area of Building: 53,980 sq. ft. 

Building’s Share of Project: 50% 

Rentable Area of Project: 107,960 sq. ft. 

Tenant’s Share of Operating Expenses for the Building: 46.1% 

Tenant’s Share of Operating Expenses for the Project: 23.1% 

Security Deposit: $57,927.50 
  

			
	Target Commencement Date:	  	July 16, 2013; provided, however that the Target Commencement Date shall be extended 1 day for each day after February 27, 2013, that this Lease has not been mutually executed and delivered by the parties.
		
	Base Term:	  	Beginning on the Commencement Date and ending 66 months from the first day of the first full month of the Term (as defined in Section 2) hereof.
		
		  	
	Permitted Use:	  	Research and development laboratory, related office and other related uses consistent with the character of the Project and otherwise in compliance with the provisions of Section 7 hereof.
		  	

  

			
	Address for Rent Payment:	  	Landlord’s Notice Address:
	P.O. Box 975383	  	385 E. Colorado Boulevard, Suite 299
	Dallas, TX 75397-5383	  	Pasadena, CA 91101
		  	Attention: Corporate Secretary

  

	
	Tenant’s Notice Address:
	343 Oyster Point Boulevard, First Floor
	South San Francisco, California 94080
	Attention: Lease Administrator

			
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 The following Exhibits and Addenda are attached hereto and incorporated herein by this reference: 

 

			
	[X] EXHIBIT A - PREMISES DESCRIPTION		[X] EXHIBIT B - DESCRIPTION OF PROJECT
	[X] EXHIBIT C - WORK LETTER		[X] EXHIBIT D - COMMENCEMENT DATE
	[X] EXHIBIT E - RULES AND REGULATIONS		[X] EXHIBIT F - TENANT’S PERSONAL PROPERTY

 1. Lease of Premises. Upon and subject to all of the terms and conditions hereof, Landlord
hereby leases the Premises to Tenant and Tenant hereby leases the Premises from Landlord. The portions of the Project which are for the non-exclusive use of tenants of the Project are collectively referred to herein as the “Common
Areas.” Landlord reserves the right to modify Common Areas, provided that such modifications do not materially adversely affect Tenant’s use of the Premises for the Permitted Use. 

2. Delivery; Acceptance of Premises; Commencement Date. Landlord shall use reasonable efforts to deliver the Premises to Tenant
on or before the Target Commencement Date, with Landlord’s Work Substantially Completed (“Delivery” or “Deliver”). If Landlord fails to timely Deliver the Premises, Landlord shall not be liable to Tenant for
any loss or damage resulting therefrom, and this Lease shall not be void or voidable except as provided herein. If Landlord does not Deliver the Premises within 90 days of the Target Commencement Date for any reason other than Force Majeure delays
and Tenant Delays, this Lease may be terminated by Landlord or Tenant by written notice to the other, and if so terminated by either: (a) the Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which
Landlord is entitled under the provisions of this Lease), shall be returned to Tenant, and (b) neither Landlord nor Tenant shall have any further rights, duties or obligations under this Lease, except with respect to provisions which expressly
survive termination of this Lease. As used herein, the terms “Landlord’s Work,” “Tenant Delays” and “Substantially Completed” shall have the meanings set forth for such terms in the Work
Letter. If neither Landlord nor Tenant elects to void this Lease within 5 business days of the lapse of such 90 day period, such right to void this Lease shall be waived and this Lease shall remain in full force and effect.  

The “Commencement Date” shall be the earliest of: (i) the date Landlord Delivers the Premises to Tenant;
(ii) the date Landlord could have Delivered the Premises but for Tenant Delays; and (iii) the date Tenant conducts any business in the Premises or any part thereof. Upon request of Landlord, Tenant shall execute and deliver a written
acknowledgment of the Commencement Date, and the expiration date of the Term when such are established in the form of the “Acknowledgement of Commencement Date” attached to this Lease as Exhibit D; provided,
however, Tenant’s failure to execute and deliver such acknowledgment shall not affect Landlord’s rights hereunder. The “Term” of this Lease shall be the Base Term, as defined above on the first page of this Lease
and the Extension Term which Tenant may elect pursuant to Section 39 hereof. 
 Except as set forth in this Lease or the
Work Letter: (i) Tenant shall accept the Premises in their condition as of the Commencement Date, subject to all applicable Legal Requirements (as defined in Section 7 hereof); (ii) Landlord shall have no obligation for any
defects in the Premises; and (iii) Tenant’s taking possession of the Premises shall be conclusive evidence that Tenant accepts the Premises and that the Premises were in good condition at the time possession was taken. 

Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the
condition of all or any portion of the Premises or the Project, and/or the suitability of the Premises or the Project for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises or the Project are suitable for
the Permitted Use. This Lease constitutes the complete agreement of Landlord and Tenant with respect to the subject matter hereof and supersedes any and all prior representations, inducements, promises, agreements, understandings and negotiations
which are not contained herein. Landlord in executing this Lease does so in reliance upon Tenant’s representations, warranties, acknowledgments and agreements contained herein. 

			
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 3. Rent. 

(a) Base Rent. The first month’s Base Rent and the Security Deposit shall be due and payable on delivery of an executed
copy of this Lease to Landlord. Tenant shall pay to Landlord in advance, without demand, abatement, deduction or set-off, monthly installments of Base Rent on or before the first day of each calendar month during the Term hereof, in lawful money of
the United States of America, at the office of Landlord for payment of Rent set forth above, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments of Base Rent for any fractional calendar
month shall be prorated. The obligation of Tenant to pay Base Rent and other sums to Landlord and the obligations of Landlord under this Lease are independent obligations. Tenant shall have no right at any time to abate, reduce, or set-off any Rent
(as defined in Section 5) due hereunder except for any abatement as may be expressly provided in this Lease.  

Notwithstanding anything to the contrary contained in this Lease, Tenant shall be required to pay Base Rent with respect to only 17,500
rentable square feet of the Premises commencing on the Commencement Date through the expiration of the 9th month of the Base Term. Tenant shall commence paying Base Rent with respect to the entire
Premises on the first day of the 10th month of the Base Term. 
 (b)
Additional Rent. In addition to Base Rent, Tenant agrees to pay to Landlord as additional rent (“Additional Rent”): (i) commencing on the Commencement Date, Tenant’s Share of “Operating Expenses” (as
defined in Section 5) with respect to the entire Premises, (ii) commencing on the Commencement Date, any TI Rent payable pursuant to Section 5 of the Work Letter, and (iii) any and all other amounts Tenant assumes
or agrees to pay under the provisions of this Lease, including, without limitation, any and all other sums that may become due by reason of any default of Tenant or failure to comply with the agreements, terms, covenants and conditions of this Lease
to be performed by Tenant, after any applicable notice and cure period. 
 4. Base Rent Adjustments. Base Rent shall be
increased during the Base Term as provided for in the schedule set forth on page 1 of this Lease. Base Rent adjustments for any fractional calendar month shall be prorated. 

5. Operating Expense Payments. Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year
during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. Commencing on the Commencement Date with respect to the entire Premises and continuing thereafter on the first
day of each month during the Term, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated. 

The term “Operating Expenses” means all costs and expenses of any kind or description whatsoever incurred or accrued
each calendar year by Landlord with respect to the Building (including the Building’s Share of all costs and expenses of any kind or description incurred or accrued by Landlord with respect to the Project which are not specific to the Building
or any other building located in the Project) (including, without duplication, Taxes (as defined in Section 9), reasonable reserves consistent with good business practice for future repairs and replacements, capital repairs and
improvements amortized over the useful life of such capital items (as reasonably determined by Landlord taking into account relevant factors including, without limitation, the 24x7 operation of the Building and its use for laboratory/office
purposes), and the costs of Landlord’s third party property manager or, if there is no third party property manager, administration rent in the amount of 2.5% of Base Rent), excluding only: 

(a) the original construction costs of the Project and renovation prior to the date of the Lease and costs of correcting defects in such
original construction or renovation; 
 (b) capital expenditures for expansion of the Project; 

			
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 (c) interest, principal payments of Mortgage (as defined in Section 27) debts of
Landlord, financing costs and amortization of funds borrowed by Landlord, whether secured or unsecured; 
 (d) depreciation of the Project
(except for capital improvements, the cost of which are includable in Operating Expenses, subject to amortization as described above); 

(e) advertising, legal and space planning expenses and leasing commissions and other costs and expenses incurred in procuring and leasing
space to tenants for the Project, including any leasing office maintained in the Project, free rent and construction allowances for tenants; 

(f) legal and other expenses incurred in the negotiation or enforcement of leases; 

(g) completing, fixturing, improving, renovating, painting, redecorating or other work, which Landlord pays for or performs for other tenants
within their premises, and costs of correcting defects in such work; 
 (h) costs to be reimbursed by other tenants of the Project or Taxes
to be paid directly by Tenant or other tenants of the Project, whether or not actually paid; 
 (i) salaries, wages, benefits and other
compensation paid to officers and employees of Landlord who are not assigned in whole or in part to the operation, management, maintenance or repair of the Project; 

(j) general organizational, administrative and overhead costs relating to maintaining Landlord‘s existence, either as a corporation,
partnership, or other entity, including general corporate, legal and accounting expenses; 
 (k) costs (including attorneys’ fees and
costs of settlement, judgments and payments in lieu thereof) incurred in connection with disputes with tenants, other occupants, or prospective tenants, and costs and expenses, including legal fees, incurred in connection with negotiations or
disputes with employees, consultants, management agents, leasing agents, purchasers or mortgagees of the Building; 
 (l) costs incurred by
Landlord due to the violation by Landlord, its employees, agents or contractors or any tenant of the terms and conditions of any lease of space in the Project or any Legal Requirement (as defined in Section 7); 

(m) penalties, fines or interest incurred as a result of Landlord‘s inability or failure to make payment of Taxes and/or to file any tax
or informational returns when due, or from Landlord«‘s failure to make any payment of Taxes required to be made by Landlord hereunder before delinquency; 

(n) overhead and profit increment paid to Landlord or to subsidiaries or affiliates of Landlord for goods and/or services in or to the Project
to the extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive basis; 
 (o)
costs of Landlord’s charitable or political contributions, or of fine art maintained at the Project; 
 (p) costs in connection with
services (including electricity), items or other benefits of a type which are not standard for the Project and which are not available to Tenant without specific charges therefor, but which are provided to another tenant or occupant of the Project,
whether or not such other tenant or occupant is specifically charged therefor by Landlord; 
 (q) costs incurred in the sale or refinancing
of the Project; 

			
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 (r) costs incurred as a result of Landlord’s failure to maintain the insurance required
to be maintained by Landlord pursuant to Section 17; 
 (s) net income taxes of Landlord or the owner of any interest in the
Project, franchise, capital stock, gift, estate or inheritance taxes or any federal, state or local documentary taxes imposed against the Project or any portion thereof or interest therein; and 

(t) any expenses otherwise includable within Operating Expenses to the extent actually reimbursed by persons other than tenants of the Project
under leases for space in the Project. 
 Within 90 days after the end of each calendar year (or such longer period as may be
reasonably required), Landlord shall furnish to Tenant a statement (an “Annual Statement”) showing in reasonable detail: (a) the total and Tenant’s Share of actual Operating Expenses for the previous calendar year, and
(b) the total of Tenant’s payments in respect of Operating Expenses for such year. If Tenant’s Share of actual Operating Expenses for such year exceeds Tenant’s payments of Operating Expenses for such year, the excess shall be
due and payable by Tenant as Rent within 30 days after delivery of such Annual Statement to Tenant. If Tenant’s payments of Operating Expenses for such year exceed Tenant’s Share of actual Operating Expenses for such year Landlord shall
pay the excess to Tenant within 30 days after delivery of such Annual Statement, except that after the expiration, or earlier termination of the Term or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant
after deducting all other amounts due Landlord. 
 The Annual Statement shall be final and binding upon Tenant unless Tenant, within
30 days after Tenant’s receipt thereof, shall contest any item therein by giving written notice to Landlord, specifying each item contested and the reason therefor. Operating Expenses for the calendar years in which Tenant’s obligation to
share therein begins and ends shall be prorated. Notwithstanding anything set forth herein to the contrary, if the Building is not at least 95% occupied on average during any year of the Term, Tenant’s Share of Operating Expenses for such year
shall be computed as though the Building had been 95% occupied on average during such year. 
 “Tenant’s Share”
shall be the percentage set forth on the first page of this Lease as Tenant’s Share as reasonably adjusted by Landlord for changes in the physical size of the Premises or the Project occurring thereafter. Landlord may equitably increase
Tenant’s Share for any item of expense or cost reimbursable by Tenant that relates to a repair, replacement, or service that benefits only the Premises or only a portion of the Project that includes the Premises or that varies with occupancy or
use. Base Rent, Tenant’s Share of Operating Expenses, any TI Rent payable pursuant to the Work Letter and all other amounts payable by Tenant to Landlord hereunder are collectively referred to herein as “Rent.”  

6. Security Deposit. The Security Deposit shall be held by Landlord without obligation for interest thereon as security for the
performance of Tenant’s obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s default. Upon each occurrence of a Default (as defined in
Section 20), Landlord may use all or part of the Security Deposit to pay delinquent payments due under this Lease, future rent damages under California Civil Code Section 1951.2, and the cost of any damage, injury, expense or
liability caused by such Default, without prejudice to any other remedy provided herein or provided by law. Landlord’s right to use the Security Deposit under this Section 6 includes the right to use the Security Deposit to pay
future rent damages following the termination of this Lease pursuant to Section 21(c) below. Upon any use of all or any portion of the Security Deposit, Tenant shall pay Landlord on demand the amount that will restore the Security
Deposit to its original amount. Upon bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be deemed to be applied first to the payment of Rent and other charges due Landlord for periods prior to the filing of
such proceedings. Landlord’s obligation respecting the Security Deposit is that of a debtor, not a trustee; no interest shall accrue thereon. The Security Deposit shall be the property of Landlord, but shall be paid to Tenant when Tenant’s
obligations under this Lease have been completely fulfilled. Landlord shall be released from any obligation with respect to the Security Deposit upon transfer of this Lease and the Premises to a person or entity assuming

			
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Landlord’s obligations under this Section 6. Tenant hereby waives the provisions of any law, now or hereafter in force, including, without limitation, California Civil Code
Section 1950.7, which provide that Landlord may claim from a security deposit only those sums reasonably necessary to remedy defaults in the payment of Rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that
Landlord may, in addition, claim those sums reasonably necessary to compensate Landlord for any other loss or damage, foreseeable or unforeseeable, caused by the act or omission of Tenant or any officer, employee, agent or invitee of Tenant. The
Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Landlord is entitled under the provisions of this Lease), shall be returned to Tenant (or, at Landlord’s option, to the last assignee of
Tenant’s interest hereunder) within 90 days after the expiration or earlier termination of this Lease. 
 If Landlord transfers its
interest in the Project or this Lease, Landlord shall either (a) transfer any Security Deposit then held by Landlord to a person or entity assuming Landlord’s obligations under this Section 6, or (b) return to Tenant any
Security Deposit then held by Landlord and remaining after the deductions permitted herein. Upon such transfer to such transferee or the return of the Security Deposit to Tenant, Landlord shall have no further obligation with respect to the Security
Deposit, and Tenant’s right to the return of the Security Deposit shall apply solely against Landlord’s transferee. The Security Deposit is not an advance rental deposit or a measure of Landlord’s damages in case of Tenant’s
default. Landlord’s obligation respecting the Security Deposit is that of a debtor, not a trustee, and no interest shall accrue thereon.  

7. Use. The Premises shall be used solely for the Permitted Use set forth in the basic lease provisions on page 1 of this Lease,
and in compliance with all laws, orders, judgments, ordinances, regulations, codes, directives, permits, licenses, covenants and restrictions now or hereafter applicable to the Premises, and to the use and occupancy thereof, including, without
limitation, the Americans With Disabilities Act, 42 U.S.C. § 12101, et seq. (together with the regulations promulgated pursuant thereto, “ADA”) (collectively, “Legal Requirements” and each, a “Legal
Requirement”). Tenant shall, upon 5 days’ written notice from Landlord, discontinue any use of the Premises which is declared by any Governmental Authority (as defined in Section 9) having jurisdiction to be a violation of
a Legal Requirement. Tenant will not use or permit the Premises to be used for any purpose or in any manner that would void Tenant’s or Landlord’s insurance, increase the insurance risk, or cause the disallowance of any sprinkler or other
credits. Tenant shall not permit any part of the Premises to be used as a “place of public accommodation”, as defined in the ADA or any similar legal requirement. Tenant shall reimburse Landlord promptly upon demand for any additional
premium charged for any such insurance policy by reason of Tenant’s failure to comply with the provisions of this Section or otherwise caused by Tenant’s use and/or occupancy of the Premises. Tenant will use the Premises in a careful, safe
and proper manner and will not commit or permit waste, overload the floor or structure of the Premises, subject the Premises to use that would damage the Premises or obstruct or interfere with the rights of Landlord or other tenants or occupants of
the Project, including conducting or giving notice of any auction, liquidation, or going out of business sale on the Premises, or using or allowing the Premises to be used for any unlawful purpose. Tenant shall cause any equipment or machinery to be
installed in the Premises so as to reasonably prevent sounds or vibrations from the Premises from extending into Common Areas, or other space in the Project. Tenant shall not place any machinery or equipment weighing 500 pounds or more in or upon
the Premises or transport or move such items through the Common Areas of the Project or in the Project elevators without the prior written consent of Landlord. Except as may be provided under the Work Letter, Tenant shall not, without the prior
written consent of Landlord, use the Premises in any manner which will require ventilation, air exchange, heating, gas, steam, electricity or water beyond the existing capacity of the Project as proportionately allocated to the Premises based upon
Tenant’s Share as usually furnished for the Permitted Use. 
 Tenant, at its sole expense, shall make any alterations or
modifications to the interior or the exterior of the Premises or the Project that are required by Legal Requirements (including, without limitation, compliance of the Premises with the ADA) related to Tenant’s use or occupancy of the Premises.
Notwithstanding any other provision herein to the contrary, Tenant shall be responsible for any and all demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or judgments, and all reasonable expenses incurred in
investigating or resisting the same (including, without 

			
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limitation, reasonable attorneys’ fees, charges and disbursements and costs of suit) (collectively, “Claims”) arising out of or in connection with Legal Requirements related
to Tenant’s use or occupancy of the Premises or Tenant’s Alterations, and Tenant shall indemnify, defend, hold and save Landlord harmless from and against any and all Claims arising out of or in connection with any failure of the Premises
to comply with any Legal Requirement related to Tenant’s use or occupancy of the Premises or Tenant’s Alterations. 
 8.
Holding Over. If, with Landlord’s express written consent, Tenant retains possession of the Premises after the termination of the Term, (i) unless otherwise agreed in such written consent, such possession shall be subject to
immediate termination by Landlord at any time, (ii) all of the other terms and provisions of this Lease (including, without limitation, the adjustment of Base Rent pursuant to Section 4 hereof) shall remain in full force and effect
(excluding any expansion or renewal option or other similar right or option) during such holdover period, (iii) Tenant shall continue to pay Base Rent in the amount payable upon the date of the expiration or earlier termination of this Lease or
such other amount as Landlord may indicate, in Landlord’s sole and absolute discretion, in such written consent, and (iv) all other payments shall continue under the terms of this Lease. If Tenant remains in possession of the Premises
after the expiration or earlier termination of the Term without the express written consent of Landlord, (A) Tenant shall become a tenant at sufferance upon the terms of this Lease except that the monthly rental shall be equal to 150% of Rent
in effect during the last 30 days of the Term, and (B) Tenant shall be responsible for all damages suffered by Landlord resulting from or occasioned by Tenant’s holding over, including consequential damages. No holding over by Tenant,
whether with or without consent of Landlord, shall operate to extend this Lease except as otherwise expressly provided, and this Section 8 shall not be construed as consent for Tenant to retain possession of the Premises. Acceptance by
Landlord of Rent after the expiration of the Term or earlier termination of this Lease shall not result in a renewal or reinstatement of this Lease. 

9. Taxes. Landlord shall pay, as part of Operating Expenses, all taxes, levies, fees, assessments and governmental charges of any kind,
existing as of the Commencement Date or thereafter enacted (collectively referred to as “Taxes”), imposed by any federal, state, regional, municipal, local or other governmental authority or agency, including, without limitation,
quasi-public agencies (collectively, “Governmental Authority”) during the Term, including, without limitation, all Taxes: (i) imposed on or measured by or based, in whole or in part, on rent payable to (or gross receipts
received by) Landlord under this Lease and/or from the rental by Landlord of the Project or any portion thereof, or (ii) based on the square footage, assessed value or other measure or evaluation of any kind of the Premises or the Project, or
(iii) assessed or imposed by or on the operation or maintenance of any portion of the Premises or the Project, including parking, or (iv) assessed or imposed by, or at the direction of, or resulting from Legal Requirements, or
interpretations thereof, promulgated by any Governmental Authority, or (v) imposed as a license or other fee, charge, tax, or assessment on Landlord’s business or occupation of leasing space in the Project. Landlord may contest by
appropriate legal proceedings the amount, validity, or application of any Taxes or liens securing Taxes. Taxes shall not include any net income taxes imposed on Landlord except to the extent such net income taxes are in substitution for any Taxes
payable hereunder. If any such Tax is levied or assessed directly against Tenant, then Tenant shall be responsible for and shall pay the same at such times and in such manner as the taxing authority shall require. Tenant shall pay, prior to
delinquency, any and all Taxes levied or assessed against any personal property or trade fixtures placed by Tenant in the Premises, whether levied or assessed against Landlord or Tenant. If any Taxes on Tenant’s personal property or trade
fixtures are levied against Landlord or Landlord’s property, or if the assessed valuation of the Project is increased by a value attributable to improvements in or alterations to the Premises, whether owned by Landlord or Tenant and whether or
not affixed to the real property so as to become a part thereof, higher than the base valuation on which Landlord from time-to-time allocates Taxes to all tenants in the Project, Landlord shall have the right, but not the obligation, to pay such
Taxes. Landlord’s determination of any excess assessed valuation shall be binding and conclusive, absent manifest error. The amount of any such payment by Landlord shall constitute Additional Rent due from Tenant to Landlord immediately upon
demand. 
 10. Parking. Subject to all matters of record, Force Majeure, a Taking (as defined in Section 19 below) and
the exercise by Landlord of its rights hereunder, Tenant shall have the right, in common 

			
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with other tenants of the Project pro rata in accordance with the rentable area of the Premises and the rentable areas of the Project occupied by such other tenants, to park in those areas
designated for non-reserved parking, subject in each case to Landlord’s rules and regulations. As of the date of this Lease, Tenant’s pro rata share of parking equates to 2.8 spaces per 1,000 rentable square feet of the Premises. Landlord
may allocate parking spaces among Tenant and other tenants in the Project pro rata as described above if Landlord determines that such parking facilities are becoming crowded. Landlord shall not be responsible for enforcing Tenant’s parking
rights against any third parties, including other tenants of the Project. 
 Tenant acknowledges that Tenant may be required to comply with
a Preliminary Transportation Demand Management Plan (“TDM”) setting forth certain requirements relating to parking and transportation demand management which are binding on tenants in the Project and agrees to comply with the
requirements of any such TDM. Tenant acknowledges that Operating Expenses shall include expenses and assessments related to any such TDM. 

11. Utilities, Services. Landlord shall provide, subject to the terms of this Section 11, water, electricity, heat,
light, power, sewer, and other utilities (including gas and fire sprinklers to the extent the Project is plumbed for such services), refuse and trash collection and janitorial services (collectively, “Utilities”). Landlord shall
pay, as Operating Expenses or subject to Tenant’s reimbursement obligation, for all Utilities used on the Premises, all maintenance charges for Utilities, and any storm sewer charges or other similar charges for Utilities imposed by any
Governmental Authority or Utility provider, and any taxes, penalties, surcharges or similar charges thereon. Landlord may cause, at Tenant’s expense, any Utilities to be separately metered or charged directly to Tenant by the provider. Tenant
shall pay directly to the Utility provider, prior to delinquency, any separately metered Utilities and services which may be furnished to Tenant or the Premises during the Term. Tenant shall pay, as part of Operating Expenses, its share of all
charges for jointly metered Utilities based upon consumption, as reasonably determined by Landlord. No interruption or failure of Utilities, from any cause whatsoever other than Landlord’s willful misconduct, shall result in eviction or
constructive eviction of Tenant, termination of this Lease or the abatement of Rent. Tenant agrees to limit use of water and sewer with respect to Common Areas to normal restroom use.  

Landlord’s sole obligation for either providing emergency generators or providing emergency back-up power to Tenant shall be: (i) to
provide emergency generators with not less than the capacity of the emergency generators located in the Building as of the Commencement Date and Tenant shall be entitled to Tenant’s Share of the capacity thereof available for use by all tenants
of the Project in accordance with the rentable area of the Premises and the rentable areas of the Project occupied by such other tenants, and (ii) to contract with a third party to maintain the emergency generators as per the
manufacturer’s standard maintenance guidelines. Landlord shall have no further obligation to provide Tenant with operational emergency generators or back-up power or to supervise, oversee or confirm that the third party maintaining the
emergency generators is maintaining the generators as per the manufacturer’s standard guidelines or otherwise. During any period of replacement, repair or maintenance of the emergency generators when the emergency generators are not
operational, including any delays thereto due to the inability to obtain parts or replacement equipment, Landlord shall have no obligation to provide Tenant with an alternative back-up generator or generators or alternative sources of back-up power.
Tenant expressly acknowledges and agrees that Landlord does not guaranty that such emergency generators will be operational at all times or that emergency power will be available to the Premises when needed.  

12. Alterations and Tenant’s Property. Any alterations, additions, or improvements made to the Premises by or on behalf of Tenant,
including additional locks or bolts of any kind or nature upon any doors or windows in the Premises, but excluding installation, removal or realignment of furniture systems (other than removal of furniture systems owned or paid for by Landlord) not
involving any modifications to the structure or connections (other then by ordinary plugs or jacks) to Building Systems (as defined in Section 13) (“Alterations”) shall be subject to Landlord’s prior written
consent, which may be given or withheld in Landlord’s sole discretion if any such Alteration affects the structure or Building 

			
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Systems and shall not be otherwise unreasonably withheld, conditioned or delayed. If Landlord approves any Alterations, Landlord may impose such conditions on Tenant in connection with the
commencement, performance and completion of such Alterations as Landlord may deem appropriate in Landlord’s sole and absolute discretion. Any request for approval shall be in writing, delivered not less than 15 business days in advance of any
proposed construction, and accompanied by plans, specifications, bid proposals, work contracts and such other information concerning the nature and cost of the alterations as may be reasonably requested by Landlord, including the identities and
mailing addresses of all persons performing work or supplying materials. Landlord’s right to review plans and specifications and to monitor construction shall be solely for its own benefit, and Landlord shall have no duty to ensure that such
plans and specifications or construction comply with applicable Legal Requirements. Tenant shall cause, at its sole cost and expense, all Alterations to comply with insurance requirements and with Legal Requirements and shall implement at its sole
cost and expense any alteration or modification required by Legal Requirements as a result of any Alterations. Tenant shall pay to Landlord, as Additional Rent, on demand an amount equal to 3% of all charges incurred by Tenant or its contractors or
agents in connection with any Alteration to cover Landlord’s overhead and expenses for plan review, coordination, scheduling and supervision. Before Tenant begins any Alteration, Landlord may post on and about the Premises notices of
non-responsibility pursuant to applicable law. Tenant shall reimburse Landlord for, and indemnify and hold Landlord harmless from, any expense incurred by Landlord by reason of faulty work done by Tenant or its contractors, delays caused by such
work, or inadequate cleanup. 
 Tenant shall furnish security or make other reasonable arrangements satisfactory to Landlord to assure
payment for the completion of all Alterations work free and clear of liens, and shall provide (and cause each contractor or subcontractor to provide) certificates of insurance for workers’ compensation and other coverage in amounts and from an
insurance company reasonably satisfactory to Landlord protecting Landlord against liability for personal injury or property damage during construction. Upon completion of any Alterations, Tenant shall deliver to Landlord: (i) sworn statements
setting forth the names of all contractors and subcontractors who did the work and final lien waivers from all such contractors and subcontractors; and (ii) “as built” plans for any such Alteration. 

Except for Removable Installations (as hereinafter defined), all Installations (as hereinafter defined) shall be and shall remain the property
of Landlord during the Term and following the expiration or earlier termination of the Term, shall not be removed by Tenant at any time during the Term, and shall remain upon and be surrendered with the Premises as a part thereof. Notwithstanding
the foregoing, Landlord may, at the time its approval of any such Installation is requested, notify Tenant that Landlord requires that Tenant remove such Installation upon the expiration or earlier termination of the Term, in which event Tenant
shall remove such Installation in accordance with the immediately succeeding sentence. Upon the expiration or earlier termination of the Term, Tenant shall remove (i) all wires, cables or similar equipment which Tenant has installed in the
Premises or in the risers or plenums of the Building, (ii) any Installations for which Landlord has given Tenant notice of removal in accordance with the immediately preceding sentence, and (iii) all of Tenant’s Property (as
hereinafter defined), and Tenant shall restore and repair any damage caused by or occasioned as a result of such removal, including, without limitation, capping off all such connections behind the walls of the Premises and repairing any holes.
During any restoration period beyond the expiration or earlier termination of the Term, Tenant shall pay Rent to Landlord as provided herein as if said space were otherwise occupied by Tenant. If Landlord is requested by Tenant or any lender, lessor
or other person or entity claiming an interest in any of Tenant’s Property to waive any lien Landlord may have against any of Tenant’s Property, and Landlord consents to such waiver, then Landlord shall be entitled to be paid as
administrative rent a fee of $1,000 per occurrence for its time and effort in preparing and negotiating such a waiver of lien. 
 For
purposes of this Lease, (x) “Removable Installations” means any items listed on Exhibit F attached hereto and any items agreed by Landlord in writing to be included on Exhibit F in the future, (y) “Tenant’s
Property” means Removable Installations and, other than Installations, any personal property or equipment of Tenant that may be removed without material damage to the Premises, and (z) “Installations” means all
property of any kind paid for by Landlord, all Alterations, all fixtures, and all partitions, hardware, built-in machinery, built-in casework and cabinets and other similar additions, equipment, property and improvements built into the Premises so
as to become an integral part of the 

			
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Premises, including, without limitation, fume hoods which penetrate the roof or plenum area, built-in cold rooms, built-in warm rooms, walk-in cold rooms, walk-in warm rooms, deionized water
systems, glass washing equipment, autoclaves, chillers, built-in plumbing, electrical and mechanical equipment and systems, and any power generator and transfer switch. 

13. Landlord’s Repairs. Landlord, as an Operating Expense, shall maintain all of the structural, exterior, parking and
other Common Areas of the Project, including HVAC, plumbing, fire sprinklers, elevators and all other building systems serving the Premises and other portions of the Project (“Building Systems”), in good repair, reasonable wear and
tear and uninsured losses and damages caused by Tenant, or by any of Tenant’s agents, servants, employees, invitees and contractors (collectively, “Tenant Parties”) excluded. Losses and damages caused by Tenant or any Tenant
Party shall be repaired by Landlord, to the extent not covered by insurance, at Tenant’s sole cost and expense. Landlord reserves the right to stop Building Systems services when necessary (i) by reason of accident or emergency, or
(ii) for planned repairs, alterations or improvements, which are, in the judgment of Landlord, desirable or necessary to be made, until said repairs, alterations or improvements shall have been completed. Landlord shall have no responsibility
or liability for failure to supply Building Systems services during any such period of interruption; provided, however, that Landlord shall, except in case of emergency, make a commercially reasonable effort to give Tenant 48 hours
advance notice of any planned stoppage of Building Systems services for routine maintenance, repairs, alterations or improvements. Tenant shall promptly give Landlord written notice of any repair required by Landlord pursuant to this Section, after
which Landlord shall make a commercially reasonable effort to effect such repair. Landlord shall not be liable for any failure to make any repairs or to perform any maintenance unless such failure shall persist for an unreasonable time after
Tenant’s written notice of the need for such repairs or maintenance. Tenant waives its rights under any state or local law to terminate this Lease or to make such repairs at Landlord’s expense and agrees that the parties’ respective
rights with respect to such matters shall be solely as set forth herein. Repairs required as the result of fire, earthquake, flood, vandalism, war, or similar cause of damage or destruction shall be controlled by Section 18. 

14. Tenant’s Repairs. Subject to Section 13 hereof, Tenant, at its expense, shall repair, replace and maintain
in good condition all portions of the Premises, including, without limitation, entries, doors, ceilings, interior windows, interior walls, and the interior side of demising walls. Such repair and replacement may include capital expenditures and
repairs whose benefit may extend beyond the Term. Should Tenant fail to make any such repair or replacement or fail to maintain the Premises, Landlord shall give Tenant notice of such failure. If Tenant fails to commence cure of such failure within
10 days of Landlord’s notice, and thereafter diligently prosecute such cure to completion, Landlord may perform such work and shall be reimbursed by Tenant within 10 days after demand therefor; provided, however, that if such failure by Tenant
creates or could create an emergency, Landlord may immediately commence cure of such failure and shall thereafter be entitled to recover the costs of such cure from Tenant. Subject to Sections 17 and 18, Tenant shall bear the full
uninsured cost of any repair or replacement to any part of the Project that results from damage caused by Tenant or any Tenant Party and any repair that benefits only the Premises. 

15. Mechanic’s Liens. Tenant shall discharge, by bond or otherwise, any mechanic’s lien filed against the Premises or
against the Project for work claimed to have been done for, or materials claimed to have been furnished to, Tenant within 10 days after the filing thereof, at Tenant’s sole cost and shall otherwise keep the Premises and the Project free from
any liens arising out of work performed, materials furnished or obligations incurred by Tenant. Should Tenant fail to discharge any lien described herein, Landlord shall have the right, but not the obligation, to pay such claim or post a bond or
otherwise provide security to eliminate the lien as a claim against title to the Project and the cost thereof shall be immediately due from Tenant as Additional Rent. If Tenant shall lease or finance the acquisition of office equipment, furnishings,
or other personal property of a removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any Uniform Commercial Code Financing Statement filed as a matter of public record by any lessor or creditor of
Tenant will upon its face or by exhibit thereto indicate that such Financing Statement is applicable only to removable personal property of Tenant located within the Premises. In no event shall the address of the Project be furnished on the
statement without qualifying language as to applicability of the lien only to removable personal property, located in an identified suite held by Tenant.  

			
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 16. Indemnification. Tenant hereby indemnifies and agrees to defend, save and
hold Landlord harmless from and against any and all Claims for injury or death to persons or damage to property occurring within or about the Premises, arising directly or indirectly out of use or occupancy of the Premises or a breach or default by
Tenant in the performance of any of its obligations hereunder, unless caused solely by the willful misconduct or gross negligence of Landlord. Landlord shall not be liable to Tenant for, and Tenant assumes all risk of damage to, personal property
(including, without limitation, loss of records kept within the Premises). Tenant further waives any and all Claims for injury to Tenant’s business or loss of income relating to any such damage or destruction of personal property (including,
without limitation, any loss of records). Landlord shall not be liable for any damages arising from any act, omission or neglect of any tenant in the Project or of any other third party. 

17. Insurance. Landlord shall maintain all risk property and, if applicable, sprinkler damage insurance covering the full
replacement cost of the Project or such lesser coverage amount as Landlord may elect provided such coverage amount is not less than 90% of such full replacement cost. Landlord shall further procure and maintain commercial general liability
insurance with a single loss limit of not less than $2,000,000 for bodily injury and property damage with respect to the Project. Landlord may, but is not obligated to, maintain such other insurance and additional coverages as it may deem necessary,
including, but not limited to, flood, environmental hazard and earthquake, loss or failure of building equipment, errors and omissions, rental loss during the period of repair or rebuilding, workers’ compensation insurance and fidelity bonds
for employees employed to perform services and insurance for any improvements installed by Tenant or which are in addition to the standard improvements customarily furnished by Landlord without regard to whether or not such are made a part of the
Project. All such insurance shall be included as part of the Operating Expenses. The Project may be included in a blanket policy (in which case the cost of such insurance allocable to the Project will be determined by Landlord based upon the
insurer’s cost calculations). Tenant shall also reimburse Landlord for any increased premiums or additional insurance which Landlord reasonably deems necessary as a result of Tenant’s use of the Premises.  

Tenant, at its sole cost and expense, shall maintain during the Term: all risk property insurance with business interruption and extra
expense coverage, covering the full replacement cost of all property and improvements installed or placed in the Premises by Tenant at Tenant’s expense; workers’ compensation insurance with no less than the minimum limits required by law;
employer’s liability insurance with such limits as required by law; and commercial general liability insurance, with a minimum limit of not less than $2,000,000 per occurrence for bodily injury and property damage with respect to the Premises.
The commercial general liability insurance policy shall name Alexandria Real Estate Equities, Inc., and Landlord, its officers, directors, employees, managers, agents, invitees and contractors (collectively, “Landlord Parties”), as
additional insureds; insure on an occurrence and not a claims-made basis; be issued by insurance companies which have a rating of not less than policyholder rating of A and financial category rating of at least Class X in “Best’s Insurance
Guide”; shall not be cancelable for nonpayment of premium unless 30 days prior written notice shall have been given to Landlord from the insurer; contain a hostile fire endorsement and a contractual liability endorsement; and provide primary
coverage to Landlord (any policy issued to Landlord providing duplicate or similar coverage shall be deemed excess over Tenant’s policies). Copies of such policies (if requested by Landlord), or certificates of insurance showing the limits of
coverage required hereunder and showing Landlord as an additional insured, along with reasonable evidence of the payment of premiums for the applicable period, shall be delivered to Landlord by Tenant upon commencement of the Term and upon each
renewal of said insurance. Tenant’s policy may be a “blanket policy” with an aggregate per location endorsement which specifically provides that the amount of insurance shall not be prejudiced by other losses covered by the policy.
Tenant shall, at least 5 days prior to the expiration of such policies, furnish Landlord with renewal certificates.  

			
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 In each instance where insurance is to name Landlord as an additional insured, Tenant shall
upon written request of Landlord also designate and furnish certificates so evidencing Landlord as additional insured to: (i) any lender of Landlord holding a security interest in the Project or any portion thereof, (ii) the landlord under
any lease wherein Landlord is tenant of the real property on which the Project is located, if the interest of Landlord is or shall become that of a tenant under a ground or other underlying lease rather than that of a fee owner, and/or
(iii) any management company retained by Landlord to manage the Project. 
 The property insurance obtained by Landlord and
Tenant shall include a waiver of subrogation by the insurers and all rights based upon an assignment from its insured, against Landlord or Tenant, and their respective officers, directors, employees, managers, agents, invitees and contractors
(“Related Parties”), in connection with any loss or damage thereby insured against. Neither party nor its respective Related Parties shall be liable to the other for loss or damage caused by any risk insured against under property
insurance required to be maintained hereunder, and each party waives any claims against the other party, and its respective Related Parties, for such loss or damage. The failure of a party to insure its property shall not void this waiver. Landlord
and its respective Related Parties shall not be liable for, and Tenant hereby waives all claims against such parties for, business interruption and losses occasioned thereby sustained by Tenant or any person claiming through Tenant resulting from
any accident or occurrence in or upon the Premises or the Project from any cause whatsoever. If the foregoing waivers shall contravene any law with respect to exculpatory agreements, the liability of Landlord or Tenant shall be deemed not released
but shall be secondary to the other’s insurer. 
 Landlord may require insurance policy limits to be raised to conform with
requirements of Landlord’s lender and/or to bring coverage limits to levels then being generally required of new tenants within the Project. 

18. Restoration. If, at any time during the Term, the Project or the Premises are damaged or destroyed by a fire or other
insured casualty, Landlord shall notify Tenant within 60 days after discovery of such damage as to the amount of time Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable (the “Restoration
Period”). If the Restoration Period is estimated to exceed 9 months from the date of discovery of the damage or destruction (the “Maximum Restoration Period”), Landlord may, in such notice, elect to terminate this Lease as
of the date that is 75 days after the date of discovery of such damage or destruction; provided, however, that notwithstanding Landlord’s election to restore, Tenant may elect to terminate this Lease by written notice to Landlord
delivered within 5 business days of receipt of a notice from Landlord estimating a Restoration Period for the Premises longer than the Maximum Restoration Period. Unless either Landlord or Tenant so elects to terminate this Lease, Landlord shall,
subject to receipt of sufficient insurance proceeds (with any deductible to be treated as a current Operating Expense), promptly restore the Premises (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant), subject to
delays arising from the collection of insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or other authorization of any kind required in connection with Tenant’s occupancy of the Premises to enter into
and restore the Premises issued by any Governmental Authority having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (as defined in Section 30) in, on
or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided, however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum
Restoration Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and restoration or Tenant may by written notice to Landlord delivered within 5 business days of the
expiration of the Maximum Restoration Period or, if longer, the Restoration Period, elect to terminate this Lease, in which event Landlord shall be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of
the date that is 75 days after the later of: (i) discovery of such damage or destruction, or (ii) the date all required Hazardous Materials Clearances are obtained, but Landlord shall retain any Rent paid and the right to any Rent payable
by Tenant prior to such election by Landlord or Tenant. 

			
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 Except to the extent that this Lease is terminated by Landlord or Tenant pursuant to the
terms of this Section 18, Tenant, at its expense, shall promptly perform, subject to delays arising from the collection of insurance proceeds, from Force Majeure (as defined in Section 34) events or to obtain Hazardous
Material Clearances, all repairs or restoration not required to be done by Landlord and shall promptly re-enter the Premises and commence doing business in accordance with this Lease. Notwithstanding the foregoing, Landlord may terminate this Lease
if the Premises are damaged during the last 1 year of the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage, or if insurance proceeds are not available for such restoration. Rent shall be abated from
the date all required Hazardous Material Clearances are obtained until the Premises are repaired and restored, in the proportion which the area of the Premises, if any, which is not usable by Tenant bears to the total area of the Premises, unless
Landlord provides Tenant with other space during the period of repair that is suitable for the temporary conduct of Tenant’s business. In the event that no Hazardous Material Clearances are required to be obtained by Tenant with respect to the
Premises, rent abatement shall commence on the date of discovery of the damage or destruction. Such abatement shall be the sole remedy of Tenant, and except as provided in this Section 18, Tenant waives any right to terminate the Lease
by reason of damage or casualty loss. 
 The provisions of this Lease, including this Section 18, constitute an express
agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, or any other portion of the Project, and any statute or regulation which is now or may hereafter be in effect shall have
no application to this Lease or any damage or destruction to all or any part of the Premises or any other portion of the Project, the parties hereto expressly agreeing that this Section 18 sets forth their entire understanding and
agreement with respect to such matters. 
 19. Condemnation. If the whole or any material part of the Premises or the Project is
taken for any public or quasi-public use under governmental law, ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking” or “Taken”), and the Taking would in
Landlord’s reasonable judgment, materially interfere with or impair Landlord’s ownership or operation of the Project or would in the reasonable judgment of Landlord and Tenant either prevent or materially interfere with Tenant’s use
of the Premises (as resolved, if the parties are unable to agree, by arbitration by a single arbitrator with the qualifications and experience appropriate to resolve the matter and appointed pursuant to and acting in accordance with the rules of the
American Arbitration Association), then upon written notice by Landlord or Tenant to the other, this Lease shall terminate and Rent shall be apportioned as of said date. If part of the Premises shall be Taken, and this Lease is not terminated as
provided above, Landlord shall promptly restore the Premises and the Project as nearly as is commercially reasonable under the circumstances to their condition prior to such partial Taking and the rentable square footage of the Building, the
rentable square footage of the Premises, Tenant’s Share of Operating Expenses and the Rent payable hereunder during the unexpired Term shall be reduced to such extent as may be fair and reasonable under the circumstances. Upon any such Taking,
Landlord shall be entitled to receive the entire price or award from any such Taking without any payment to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award. Tenant shall have the right, to the extent that
same shall not diminish Landlord’s award, to make a separate claim against the condemning authority (but not Landlord) for such compensation as may be separately awarded or recoverable by Tenant for moving expenses and damage to Tenant’s
trade fixtures, if a separate award for such items is made to Tenant. Tenant hereby waives any and all rights it might otherwise have pursuant to any provision of state law to terminate this Lease upon a partial Taking of the Premises or the
Project. 
 20. Events of Default. Each of the following events shall be a default (“Default”) by Tenant under this
Lease: 
 (a) Payment Defaults. Tenant shall fail to pay any installment of Rent hereunder when due; provided, however, that Landlord
will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed
to be, any notice required by law. 

			
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 Tenant shall fail to pay any amounts due under this Lease other than Base Rent and Operating
Expenses; provided, however that Landlord will give Tenant written notice and an opportunity to cure any failure to pay such amounts other than Base Rent and Operating Expenses within 3 days of any such notice. 

(b) Insurance. Any insurance required to be maintained by Tenant pursuant to this Lease shall be canceled or terminated or shall expire
or shall be reduced or materially changed, or Landlord shall receive a notice of nonrenewal of any such insurance and Tenant shall fail to obtain replacement insurance before the expiration of the current coverage. 

(c) Abandonment. Tenant shall abandon the Premises. 

(d) Improper Transfer. Tenant shall assign, sublease or otherwise transfer or attempt to transfer all or any portion of Tenant’s
interest in this Lease or the Premises except as expressly permitted herein, or Tenant’s interest in this Lease shall be attached, executed upon, or otherwise judicially seized and such action is not released within 90 days of the action. 

(e) Liens. Tenant shall fail to discharge or otherwise obtain the release of any lien placed upon the Premises in violation of this
Lease within 10 days after any such lien is filed against the Premises. 
 (f) Insolvency Events. Tenant or any guarantor or surety
of Tenant’s obligations hereunder shall: (A) make a general assignment for the benefit of creditors; (B) commence any case, proceeding or other action seeking to have an order for relief entered on its behalf as a debtor or to
adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of it or its debts or seeking appointment of a receiver, trustee, custodian or other similar official for it or for
all or of any substantial part of its property (collectively a “Proceeding for Relief”); (C) become the subject of any Proceeding for Relief which is not dismissed within 90 days of its filing or entry; or (D) die or
suffer a legal disability (if Tenant, guarantor, or surety is an individual) or be dissolved or otherwise fail to maintain its legal existence (if Tenant, guarantor or surety is a corporation, partnership or other entity). 

(g) Estoppel Certificate or Subordination Agreement. Tenant fails to execute any document required from Tenant under
Sections 23 or 27 within 5 days after a second notice requesting such document. 
 (h) Other Defaults. Tenant
shall fail to comply with any provision of this Lease other than those specifically referred to in this Section 20, and, except as otherwise expressly provided herein, such failure shall continue for a period of 30 days after written
notice thereof from Landlord to Tenant. 
 Any notice given under Section 20(h) hereof shall: (i) specify the alleged default,
(ii) demand that Tenant cure such default, (iii) be in lieu of, and not in addition to, or shall be deemed to be, any notice required under any provision of applicable law, and (iv) not be deemed a forfeiture or a termination of this
Lease unless Landlord elects otherwise in such notice; provided that if the nature of Tenant’s default pursuant to Section 20(h) is such that it cannot be cured by the payment of money and reasonably requires more than 30
days to cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said 30 day period and thereafter diligently prosecutes the same to completion; provided, however, that such cure shall be completed no
later than 60 days from the date of Landlord’s notice. 
 21. Landlord’s Remedies. 

(a) Payment By Landlord; Interest. Upon a Default by Tenant hereunder, Landlord may, without waiving or releasing any obligation of
Tenant hereunder, make such payment or perform such act. All sums so paid or incurred by Landlord, together with interest thereon, from the date such sums were paid or incurred, at the annual rate equal to 12% per annum or the highest rate
permitted by law (the 

			
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“Default Rate”), whichever is less, shall be payable to Landlord on demand as Additional Rent. Nothing herein shall be construed to create or impose a duty on Landlord to
mitigate any damages resulting from Tenant’s Default hereunder. 
 (b) Late Payment Rent. Late payment by Tenant to Landlord of
Rent and other sums due will cause Landlord to incur costs not contemplated by this Lease, the exact amount of which will be extremely difficult and impracticable to ascertain. Such costs include, but are not limited to, processing and accounting
charges and late charges which may be imposed on Landlord under any Mortgage covering the Premises. Therefore, if any installment of Rent due from Tenant is not received by Landlord within 5 days after the date such payment is due, Tenant shall pay
to Landlord an additional sum equal to 6% of the overdue Rent as a late charge. The parties agree that this late charge represents a fair and reasonable estimate of the costs Landlord will incur by reason of late payment by Tenant. In addition to
the late charge, Rent not paid when due shall bear interest at the Default Rate from the 5th day after the date due until paid. 
 (c)
Remedies. Upon the occurrence of a Default, Landlord, at its option, without further notice or demand to Tenant, shall have in addition to all other rights and remedies provided in this Lease, at law or in equity, the option to pursue any one
or more of the following remedies, each and all of which shall be cumulative and nonexclusive, without any notice or demand whatsoever. 

(i) Terminate this Lease, or at Landlord’s option, Tenant’s right to possession only, in which event Tenant shall
immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy which it may have for possession or arrearages in rent, enter upon and take possession of the Premises and expel or
remove Tenant and any other person who may be occupying the Premises or any part thereof, without being liable for prosecution or any claim or damages therefor; 

(ii) Upon any termination of this Lease, whether pursuant to the foregoing Section 21(c)(i) or otherwise, Landlord
may recover from Tenant the following: 
 (A) The worth at the time of award of any unpaid rent which has been earned at the
time of such termination; plus 
 (B) The worth at the time of award of the amount by which the unpaid rent which would have
been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 

(C) The worth at the time of award of the amount by which the unpaid rent for the balance of the Term after the time of award
exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 
 (D) Any other amount
necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, specifically including, but
not limited to, brokerage commissions and advertising expenses incurred, expenses of remodeling the Premises or any portion thereof for a new tenant, whether for the same or a different use, and any special concessions made to obtain a new tenant;
and 
 (E) At Landlord’s election, such other amounts in addition to or in lieu of the foregoing as may be permitted
from time to time by applicable law. 
 The term “rent” as used in this Section 21 shall be deemed to be and to mean all sums
of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed
by 

			
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allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the
discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%. 
 (iii) Landlord may continue this
Lease in effect after Tenant’s Default and recover rent as it becomes due (Landlord and Tenant hereby agreeing that Tenant has the right to sublet or assign hereunder, subject only to reasonable limitations). Accordingly, if Landlord does not
elect to terminate this Lease following a Default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies hereunder, including the right to recover all Rent as it becomes due. 

(iv) Whether or not Landlord elects to terminate this Lease following a Default by Tenant, Landlord shall have the right to
terminate any and all subleases, licenses, concessions or other consensual arrangements for possession entered into by Tenant and affecting the Premises or may, in Landlord’s sole discretion, succeed to Tenant’s interest in such subleases,
licenses, concessions or arrangements. Upon Landlord’s election to succeed to Tenant’s interest in any such subleases, licenses, concessions or arrangements, Tenant shall, as of the date of notice by Landlord of such election, have no
further right to or interest in the rent or other consideration receivable thereunder. 
 (v) Independent of the exercise of
any other remedy of Landlord hereunder or under applicable law, Landlord may conduct an environmental test of the Premises as generally described in Section 30(d) hereof, at Tenant’s expense. 

(d) Effect of Exercise. Exercise by Landlord of any remedies hereunder or otherwise available shall not be deemed to be an acceptance
of surrender of the Premises and/or a termination of this Lease by Landlord, it being understood that such surrender and/or termination can be effected only by the express written agreement of Landlord and Tenant. Any law, usage, or custom to the
contrary notwithstanding, Landlord shall have the right at all times to enforce the provisions of this Lease in strict accordance with the terms hereof; and the failure of Landlord at any time to enforce its rights under this Lease strictly in
accordance with same shall not be construed as having created a custom in any way or manner contrary to the specific terms, provisions, and covenants of this Lease or as having modified the same and shall not be deemed a waiver of Landlord’s
right to enforce one or more of its rights in connection with any subsequent default. A receipt by Landlord of Rent or other payment with knowledge of the breach of any covenant hereof shall not be deemed a waiver of such breach, and no waiver by
Landlord of any provision of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord. To the greatest extent permitted by law, Tenant waives the service of notice of Landlord’s intention to re-enter,
re-take or otherwise obtain possession of the Premises as provided in any statute, or to institute legal proceedings to that end, and also waives all right of redemption in case Tenant shall be dispossessed by a judgment or by warrant of any court
or judge. Any reletting of the Premises or any portion thereof shall be on such terms and conditions as Landlord in its sole discretion may determine. Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished
because of, Landlord’s failure to relet the Premises or collect rent due in respect of such reletting or otherwise to mitigate any damages arising by reason of Tenant’s Default. 

22. Assignment and Subletting. 

(a) General Prohibition. Without Landlord’s prior written consent subject to and on the conditions described in this
Section 22, Tenant shall not, directly or indirectly, voluntarily or by operation of law, assign this Lease or sublease the Premises or any part thereof or mortgage, pledge, or hypothecate its leasehold interest or grant any concession
or license within the Premises, and any attempt to do any of the foregoing shall be void and of no effect. If Tenant is a corporation, partnership or limited liability company, the shares or other ownership interests thereof which are not actively
traded upon a stock exchange or in the over-the-counter market, a transfer or series of transfers whereby 50% or more of the issued and outstanding shares or other ownership interests of such corporation are, or

			
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voting control is, transferred (but excepting transfers upon deaths of individual owners) from a person or persons or entity or entities which were owners thereof at time of execution of this
Lease to persons or entities who were not owners of shares or other ownership interests of the corporation, partnership or limited liability company at time of execution of this Lease, shall be deemed an assignment of this Lease requiring the
consent of Landlord as provided in this Section 22. 
 (b) Permitted Transfers. If Tenant desires to assign, sublease,
hypothecate or otherwise transfer this Lease or sublet the Premises, other than pursuant to a Permitted Assignment (as defined below), then at least 15 business days, but not more than 45 business days, before the date Tenant desires the
assignment or sublease to be effective (the “Assignment Date”), Tenant shall give Landlord a notice (the “Assignment Notice”) containing such information about the proposed assignee or sublessee, including the
proposed use of the Premises and any Hazardous Materials proposed to be used, stored handled, treated, generated in or released or disposed of from the Premises, the Assignment Date, any relationship between Tenant and the proposed assignee or
sublessee, and all material terms and conditions of the proposed assignment or sublease, including a copy of any proposed assignment or sublease in its final form, and such other information as Landlord may deem reasonably necessary or appropriate
to its consideration whether to grant its consent. Landlord may, by giving written notice to Tenant within 15 business days after receipt of the Assignment Notice: (i) grant such consent, (ii) refuse such consent, in its sole and absolute
discretion, if the proposed assignment, hypothecation or other transfer or subletting concerns more than (together with all other then effective subleases) 50% of the Premises, (iii) refuse such consent, in its reasonable discretion, if the
proposed subletting concerns (together with all other then effective subleases) 50% or less of the Premises (provided that Landlord shall further have the right to review and approve or disapprove the proposed form of sublease prior to the effective
date of any such subletting), or (iv) terminate this Lease with respect to the space described in the Assignment Notice as of the Assignment Date (an “Assignment Termination”). If Landlord delivers notice of its election to
exercise an Assignment Termination, Tenant shall have the right to withdraw such Assignment Notice by written notice to Landlord of such election within 5 business days after Landlord’s notice electing to exercise the Assignment Termination. If
Tenant withdraws such Assignment Notice, this Lease shall continue in full force and effect. If Tenant does not withdraw such Assignment Notice, this Lease, and the term and estate herein granted, shall terminate as of the Assignment Date with
respect to the space described in such Assignment Notice. No failure of Landlord to exercise any such option to terminate this Lease, or to deliver a timely notice in response to the Assignment Notice, shall be deemed to be Landlord’s consent
to the proposed assignment, sublease or other transfer. Tenant shall pay to Landlord a fee equal to One Thousand Five Hundred Dollars ($1,500) in connection with its consideration of any Assignment Notice and/or its preparation or review of any
consent documents. Notwithstanding the foregoing, Tenant shall have the right to assign this Lease, upon 30 days prior written notice to Landlord but without obtaining Landlord’s prior written consent, to a corporation or other entity which is
a successor-in-interest to Tenant, by way of merger, consolidation or corporate reorganization, or by the purchase of all or substantially all of the assets or the ownership interests of Tenant provided that (i) such merger or consolidation, or
such acquisition or assumption, as the case may be, is for a good business purpose and not principally for the purpose of transferring the Lease, and (ii) the net worth (as determined in accordance with generally accepted accounting principles
(“GAAP”)) of the assignee is not less than the greater of the net worth (as determined in accordance with GAAP) of Tenant as of (A) the Commencement Date, or (B) as of the date of Tenant’s most current quarterly or
annual financial statements, and (iii) such assignee shall agree in writing to assume all of the terms, covenants and conditions of this Lease arising after the effective date of the assignment (a “Permitted Assignment”). 

(c) Additional Conditions. As a condition to any such assignment or subletting, whether or not Landlord’s consent is required,
Landlord may require: 
 (i) that any assignee or subtenant agree, in writing at the time of such assignment or subletting,
that if Landlord gives such party notice that Tenant is in default under this Lease, such party shall thereafter make all payments otherwise due Tenant directly to Landlord, which payments will be received by Landlord without any liability except to
credit such payment against those due under the Lease, and any such third party shall agree to attorn to Landlord or its successors and assigns should this Lease be terminated for any reason; provided, however, in no event shall
Landlord or its successors or assigns be obligated to accept such attornment; and 

			
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 (ii) A list of Hazardous Materials, certified by the proposed assignee or
sublessee to be true and correct, which the proposed assignee or sublessee intends to use, store, handle, treat, generate in or release or dispose of from the Premises, together with copies of all documents relating to such use, storage, handling,
treatment, generation, release or disposal of Hazardous Materials by the proposed assignee or subtenant in the Premises or on the Project, prior to the proposed assignment or subletting, including, without limitation: permits; approvals; reports and
correspondence; storage and management plans; plans relating to the installation of any storage tanks to be installed in or under the Project (provided, said installation of tanks shall only be permitted after Landlord has given its written consent
to do so, which consent may be withheld in Landlord’s sole and absolute discretion); and all closure plans or any other documents required by any and all federal, state and local Governmental Authorities for any storage tanks installed in, on
or under the Project for the closure of any such tanks. Neither Tenant nor any such proposed assignee or subtenant is required, however, to provide Landlord with any portion(s) of the such documents containing information of a proprietary nature
which, in and of themselves, do not contain a reference to any Hazardous Materials or hazardous activities. 
 (d) No Release of Tenant,
Sharing of Excess Rents. Notwithstanding any assignment or subletting, Tenant and any guarantor or surety of Tenant’s obligations under this Lease shall at all times remain fully and primarily responsible and liable for the payment of Rent
and for compliance with all of Tenant’s other obligations under this Lease. If the Rent due and payable by a sublessee or assignee (or a combination of the rental payable under such sublease or assignment plus any bonus or other consideration
therefor or incident thereto in any form) exceeds the sum of the rental payable under this Lease, (excluding however, any Rent payable under this Section) and actual and reasonable brokerage fees, legal costs and any design or construction fees and
costs directly related to and required pursuant to the terms of any such sublease) (“Excess Rent”), then Tenant shall be bound and obligated to pay Landlord as Additional Rent hereunder 50% of such Excess Rent within 10 days
following receipt thereof by Tenant. If Tenant shall sublet the Premises or any part thereof, Tenant hereby immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any such
subletting, and Landlord as assignee and as attorney-in-fact for Tenant, or a receiver for Tenant appointed on Landlord’s application, may collect such rent and apply it toward Tenant’s obligations under this Lease; provided, however, that
until the occurrence of a Default, Tenant shall have the right to collect such rent. 
 (e) No Waiver. The consent by Landlord to an
assignment or subletting shall not relieve Tenant or any assignees of this Lease or any sublessees of the Premises from obtaining the consent of Landlord to any further assignment or subletting nor shall it release Tenant or any assignee or
sublessee of Tenant from full and primary liability under the Lease. The acceptance of Rent hereunder, or the acceptance of performance of any other term, covenant, or condition thereof, from any other person or entity shall not be deemed to be a
waiver of any of the provisions of this Lease or a consent to any subletting, assignment or other transfer of the Premises. 
 (f) Prior
Conduct of Proposed Transferee. Notwithstanding any other provision of this Section 22, if (i) the proposed assignee or sublessee of Tenant has been required by any prior landlord, lender or Governmental Authority to take
remedial action in connection with Hazardous Materials contaminating a property, where the contamination resulted from such party’s action or use of the property in question, (ii) the proposed assignee or sublessee is subject to an
enforcement order issued by any Governmental Authority in connection with the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials (including, without limitation, any order related to the failure to make a
required reporting to any Governmental Authority), or (iii) because of the existence of a pre-existing environmental condition in the vicinity of or underlying the Project, the risk that Landlord would be targeted as a responsible party in
connection with the remediation of such pre-existing environmental condition would be materially increased or exacerbated by the proposed use of Hazardous Materials by such proposed assignee or sublessee, Landlord shall have the absolute right to
refuse to consent to any assignment or subletting to any such party. 

			
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 23. Estoppel Certificate. Tenant shall, within 10 business days of written notice from
Landlord, execute, acknowledge and deliver a statement in writing in any form reasonably requested by a proposed lender or purchaser, (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature
of such modification and certifying that this Lease as so modified is in full force and effect) and the dates to which the rental and other charges are paid in advance, if any, (ii) acknowledging that there are not any uncured defaults on the
part of Landlord hereunder, or specifying such defaults if any are claimed, and (iii) setting forth such further information with respect to the status of this Lease or the Premises as may be requested thereon. Any such statement may be relied
upon by any prospective purchaser or encumbrancer of all or any portion of the real property of which the Premises are a part. Tenant’s failure to deliver such statement within such time shall, at the option of Landlord, constitute a Default
under this Lease, and, in any event, shall be conclusive upon Tenant that the Lease is in full force and effect and without modification except as may be represented by Landlord in any certificate prepared by Landlord and delivered to Tenant for
execution. 
 24. Quiet Enjoyment. So long as Tenant is not in Default under this Lease, Tenant shall, subject to the terms of this
Lease, at all times during the Term, have peaceful and quiet enjoyment of the Premises against any person claiming by, through or under Landlord. 

25. Prorations. All prorations required or permitted to be made hereunder shall be made on the basis of a 360 day year and 30 day
months. 
 26. Rules and Regulations. Tenant shall, at all times during the Term and any extension thereof, comply with all
reasonable rules and regulations at any time or from time to time established by Landlord covering use of the Premises and the Project. The current rules and regulations are attached hereto as Exhibit E. If there is any conflict between said
rules and regulations and other provisions of this Lease, the terms and provisions of this Lease shall control. Landlord shall not have any liability or obligation for the breach of any rules or regulations by other tenants in the Project and shall
not enforce such rules and regulations in a discriminatory manner. 
 27. Subordination. This Lease and Tenant’s interest and
rights hereunder are hereby made and shall be subject and subordinate at all times to the lien of any Mortgage now existing or hereafter created on or against the Project or the Premises, and all amendments, restatements, renewals, modifications,
consolidations, refinancing, assignments and extensions thereof, without the necessity of any further instrument or act on the part of Tenant; provided, however that so long as there is no Default hereunder, Tenant’s right to
possession of the Premises shall not be disturbed by the Holder of any such Mortgage. Tenant agrees, at the election of the Holder of any such Mortgage, to attorn to any such Holder. Tenant agrees upon demand to execute, acknowledge and deliver such
instruments, confirming such subordination, and such instruments of attornment as shall be requested by any such Holder, provided any such instruments contain appropriate non-disturbance provisions assuring Tenant’s quiet enjoyment of the
Premises as set forth in Section 24 hereof. Tenant hereby appoints Landlord attorney-in-fact for Tenant irrevocably (such power of attorney being coupled with an interest) to execute, acknowledge and deliver any such instrument and
instruments for and in the name of Tenant and to cause any such instrument to be recorded. Notwithstanding the foregoing, any such Holder may at any time subordinate its Mortgage to this Lease, without Tenant’s consent, by notice in writing to
Tenant, and thereupon this Lease shall be deemed prior to such Mortgage without regard to their respective dates of execution, delivery or recording and in that event such Holder shall have the same rights with respect to this Lease as though this
Lease had been executed prior to the execution, delivery and recording of such Mortgage and had been assigned to such Holder. The term “Mortgage” whenever used in this Lease shall be deemed to include deeds of trust, security
assignments and any other encumbrances, and any reference to the “Holder” of a Mortgage shall be deemed to include the beneficiary under a deed of trust.  

			
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 28. Surrender. Upon the expiration of the Term or earlier termination of Tenant’s
right of possession, Tenant shall surrender the Premises to Landlord in the same condition as received, subject to any Alterations or Installations permitted by Landlord to remain in the Premises, free of Hazardous Materials brought upon, kept,
used, stored, handled, treated, generated in, or released or disposed of from, the Premises by any person other than a Landlord Party (collectively, “Tenant HazMat Operations”) and released of all Hazardous Materials Clearances,
broom clean, ordinary wear and tear and casualty loss and condemnation covered by Sections 18 and 19 excepted. At least 3 months prior to the surrender of the Premises, Tenant shall deliver to Landlord a narrative description of
the actions proposed (or required by any Governmental Authority) to be taken by Tenant in order to surrender the Premises (including any Installations permitted by Landlord to remain in the Premises) at the expiration or earlier termination of the
Term, free from any residual impact from the Tenant HazMat Operations and otherwise released for unrestricted use and occupancy (the “Surrender Plan”). Such Surrender Plan shall be accompanied by a current listing of (i) all
Hazardous Materials licenses and permits held by or on behalf of any Tenant Party with respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the Premises, and shall be
subject to the review and approval of Landlord’s environmental consultant. In connection with the review and approval of the Surrender Plan, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such additional
non-proprietary information concerning Tenant HazMat Operations as Landlord shall request. On or before such surrender, Tenant shall deliver to Landlord evidence that the approved Surrender Plan shall have been satisfactorily completed and Landlord
shall have the right, subject to reimbursement at Tenant’s expense as set forth below, to cause Landlord’s environmental consultant to inspect the Premises and perform such additional procedures as may be deemed reasonably necessary to
confirm that the Premises are, as of the effective date of such surrender or early termination of the Lease, free from any residual impact from Tenant HazMat Operations. Tenant shall reimburse Landlord, as Additional Rent, for the actual out-of
pocket expense incurred by Landlord for Landlord’s environmental consultant to review and approve the Surrender Plan and to visit the Premises and verify satisfactory completion of the same, which cost shall not exceed $5,000. Landlord shall
have the unrestricted right to deliver such Surrender Plan and any report by Landlord’s environmental consultant with respect to the surrender of the Premises to third parties. 

If Tenant shall fail to prepare or submit a Surrender Plan approved by Landlord, or if Tenant shall fail to complete the approved Surrender
Plan, or if such Surrender Plan, whether or not approved by Landlord, shall fail to adequately address any residual effect of Tenant HazMat Operations in, on or about the Premises, Landlord shall have the right to take such actions as Landlord may
deem reasonable or appropriate to assure that the Premises and the Project are surrendered free from any residual impact from Tenant HazMat Operations, the cost of which actions shall be reimbursed by Tenant as Additional Rent, without regard to the
limitation set forth in the first paragraph of this Section 28. 
 Tenant shall immediately return to Landlord all keys and/or
access cards to parking, the Project, restrooms or all or any portion of the Premises furnished to or otherwise procured by Tenant. If any such access card or key is lost, Tenant shall pay to Landlord, at Landlord’s election, either the cost of
replacing such lost access card or key or the cost of reprogramming the access security system in which such access card was used or changing the lock or locks opened by such lost key. Any Tenant’s Property, Alterations and property not so
removed by Tenant as permitted or required herein shall be deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant’s expense, and Tenant waives all claims against Landlord for any damages resulting from
Landlord’s retention and/or disposition of such property. All obligations of Tenant hereunder not fully performed as of the termination of the Term, including the obligations of Tenant under Section 30 hereof, shall survive the
expiration or earlier termination of the Term, including, without limitation, indemnity obligations, payment obligations with respect to Rent and obligations concerning the condition and repair of the Premises. 

29. Waiver of Jury Trial. TO THE EXTENT PERMITTED BY LAW, TENANT AND LANDLORD WAIVE ANY RIGHT TO TRIAL BY JURY OR TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE, BETWEEN LANDLORD AND TENANT ARISING OUT OF THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE
TRANSACTIONS RELATED HERETO. 

			
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 30. Environmental Requirements. 

(a) Prohibition/Compliance/Indemnity. Tenant shall not cause or permit any Hazardous Materials (as hereinafter defined) to be brought
upon, kept, used, stored, handled, treated, generated in or about, or released or disposed of from, the Premises or the Project in violation of applicable Environmental Requirements (as hereinafter defined) by Tenant or any Tenant Party. If Tenant
breaches the obligation stated in the preceding sentence, or if the presence of Hazardous Materials in the Premises during the Term or any holding over results in contamination of the Premises, the Project or any adjacent property or if
contamination of the Premises, the Project or any adjacent property by Hazardous Materials brought into, kept, used, stored, handled, treated, generated in or about, or released or disposed of from, the Premises by anyone other than Landlord and
Landlord’s employees, agents and contractors otherwise occurs during the Term or any holding over, Tenant hereby indemnifies and shall defend and hold Landlord, its officers, directors, employees, agents and contractors harmless from any and
all actions (including, without limitation, remedial or enforcement actions of any kind, administrative or judicial proceedings, and orders or judgments arising out of or resulting therefrom), costs, claims, damages (including, without limitation,
punitive damages and damages based upon diminution in value of the Premises or the Project, or the loss of, or restriction on, use of the Premises or any portion of the Project), expenses (including, without limitation, attorneys’,
consultants’ and experts’ fees, court costs and amounts paid in settlement of any claims or actions), fines, forfeitures or other civil, administrative or criminal penalties, injunctive or other relief (whether or not based upon personal
injury, property damage, or contamination of, or adverse effects upon, the environment, water tables or natural resources), liabilities or losses (collectively, “Environmental Claims”) which arise during or after the Term as a
result of such contamination. This indemnification of Landlord by Tenant includes, without limitation, costs incurred in connection with any investigation of site conditions or any cleanup, treatment, remedial, removal, or restoration work required
by any federal, state or local Governmental Authority because of Hazardous Materials present in the air, soil or ground water above, on, or under the Premises. 

(b) Business. Landlord acknowledges that it is not the intent of this Section 30 to prohibit Tenant from using the Premises
for the Permitted Use. Tenant may operate its business according to prudent industry practices so long as the use or presence of Hazardous Materials is strictly and properly monitored according to all then applicable Environmental Requirements. As a
material inducement to Landlord to allow Tenant to use Hazardous Materials in connection with its business, Tenant agrees to deliver to Landlord prior to the Commencement Date a list identifying each type of Hazardous Materials to be brought upon,
kept, used, stored, handled, treated, generated on, or released or disposed of from, the Premises and setting forth any and all governmental approvals or permits required in connection with the presence, use, storage, handling, treatment,
generation, release or disposal of such Hazardous Materials on or from the Premises (“Hazardous Materials List”). Tenant shall deliver to Landlord an updated Hazardous Materials List at least once a year and shall also deliver an
updated list before any new Hazardous Material is brought onto, kept, used, stored, handled, treated, generated on, or released or disposed of from, the Premises. Tenant shall deliver to Landlord true and correct copies of the following documents
(the “Haz Mat Documents”) relating to the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials prior to the Commencement Date, or if unavailable at that time, concurrent with the receipt from or
submission to a Governmental Authority: permits; approvals; reports and correspondence; storage and management plans, notice of violations of any Legal Requirements; plans relating to the installation of any storage tanks to be installed in or under
the Project (provided, said installation of tanks shall only be permitted after Landlord has given Tenant its written consent to do so, which consent may be withheld in Landlord’s sole and absolute discretion); all closure plans or any other
documents required by any and all federal, state and local Governmental Authorities for any storage tanks installed in, on or under the Project for the closure of any such tanks; and a Surrender Plan (to the extent surrender in accordance with
Section 28 cannot be accomplished in 3 months). Tenant is not required, however, to provide Landlord with any portion(s) of the Haz Mat Documents containing information of a proprietary nature which, in and of themselves, do not contain
a reference to any Hazardous Materials or hazardous activities. It is not the intent of this Section to provide Landlord with information which could be detrimental to Tenant’s business should such information become possessed by Tenant’s
competitors. 

			
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 (c) Tenant Representation and Warranty. Tenant hereby represents and warrants to
Landlord that (i) neither Tenant nor any of its legal predecessors has been required by any prior landlord, lender or Governmental Authority at any time to take remedial action in connection with Hazardous Materials contaminating a property
which contamination was permitted by Tenant of such predecessor or resulted from Tenant’s or such predecessor’s action or use of the property in question, and (ii) Tenant is not subject to any enforcement order issued by any
Governmental Authority in connection with the use, storage, handling, treatment, generation, release or disposal of Hazardous Materials (including, without limitation, any order related to the failure to make a required reporting to any Governmental
Authority). If Landlord determines that this representation and warranty was not true as of the date of this lease, Landlord shall have the right to terminate this Lease in Landlord’s sole and absolute discretion. 

(d) Testing. Landlord shall have the right to conduct annual tests of the Premises to determine whether any contamination of the
Premises or the Project has occurred as a result of Tenant’s use. Tenant shall be required to pay the cost of such annual test of the Premises; provided, however, that if Tenant conducts its own tests of the Premises using third party
contractors and test procedures acceptable to Landlord which tests are certified to Landlord, Landlord shall accept such tests in lieu of the annual tests to be paid for by Tenant. In addition, at any time, and from time to time, prior to the
expiration or earlier termination of the Term, Landlord shall have the right to conduct appropriate tests of the Premises and the Project to determine if contamination has occurred as a result of Tenant’s use of the Premises. In connection with
such testing, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such non-proprietary information concerning the use of Hazardous Materials in or about the Premises by Tenant or any Tenant Party. If contamination has
occurred for which Tenant is liable under this Section 30, Tenant shall pay all costs to conduct such tests. If no such contamination is found, Landlord shall pay the costs of such tests (which shall not constitute an Operating Expense).
Landlord shall provide Tenant with a copy of all third party, non-confidential reports and tests of the Premises made by or on behalf of Landlord during the Term without representation or warranty and subject to a confidentiality agreement. Tenant
shall, at its sole cost and expense, promptly and satisfactorily remediate any environmental conditions identified by such testing in accordance with all Environmental Requirements. Landlord’s receipt of or satisfaction with any environmental
assessment in no way waives any rights which Landlord may have against Tenant. 
 (e) Control Areas. Tenant shall be allowed to
utilize up to its pro rata share of the Hazardous Materials inventory within any control area or zone (located within the Premises), as designated by the applicable building code, for chemical use or storage. As used in the preceding sentence,
Tenant’s pro rata share of any control areas or zones located within the Premises shall be determined based on the rentable square footage that Tenant leases within the applicable control area or zone. For purposes of example only, if a control
area or zone contains 10,000 rentable square feet and 2,000 rentable square feet of a tenant’s premises are located within such control area or zone (while such premises as a whole contains 5,000 rentable square feet), the applicable
tenant’s pro rata share of such control area would be 20%. 
 (f) Underground Tanks. Tenant shall have no right to use or
install any underground or other storage tanks at the Project. 
 (g) Tenant’s Obligations. Tenant’s obligations under this
Section 30 shall survive the expiration or earlier termination of the Lease. During any period of time after the expiration or earlier termination of this Lease required by Tenant or Landlord to complete the removal from the Premises of
any Hazardous Materials (including, without limitation, the release and termination of any licenses or permits restricting the use of the Premises and the completion of the approved Surrender Plan), Tenant shall continue to pay the full Rent in
accordance with this Lease for any portion of the Premises not relet by Landlord in Landlord’s sole discretion, which Rent shall be prorated daily. 

			
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 (h) Definitions. As used herein, the term “Environmental
Requirements” means all applicable present and future statutes, regulations, ordinances, rules, codes, judgments, orders or other similar enactments of any Governmental Authority regulating or relating to health, safety, or environmental
conditions on, under, or about the Premises or the Project, or the environment, including without limitation, the following: the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation and Recovery Act; and
all state and local counterparts thereto, and any regulations or policies promulgated or issued thereunder. As used herein, the term “Hazardous Materials” means and includes any substance, material, waste, pollutant, or contaminant
listed or defined as hazardous or toxic, or regulated by reason of its impact or potential impact on humans, animals and/or the environment under any Environmental Requirements, asbestos and petroleum, including crude oil or any fraction thereof,
natural gas liquids, liquefied natural gas, or synthetic gas usable for fuel (or mixtures of natural gas and such synthetic gas). As defined in Environmental Requirements, Tenant is and shall be deemed to be the “operator” of
Tenant’s “facility” and the “owner” of all Hazardous Materials brought on the Premises by Tenant or any Tenant Party, and the wastes, by-products, or residues generated, resulting, or produced therefrom. 

31. Tenant’s Remedies/Limitation of Liability. Landlord shall not be in default hereunder unless Landlord fails to perform any of
its obligations hereunder within 30 days after written notice from Tenant specifying such failure (unless such performance will, due to the nature of the obligation, require a period of time in excess of 30 days, then after such period of time as is
reasonably necessary). Upon any default by Landlord, Tenant shall give notice by registered or certified mail to any Holder of a Mortgage covering the Premises and to any landlord of any lease of property in or on which the Premises are located and
Tenant shall offer such Holder and/or landlord a reasonable opportunity to cure the default, including time to obtain possession of the Project by power of sale or a judicial action if such should prove necessary to effect a cure; provided
Landlord shall have furnished to Tenant in writing the names and addresses of all such persons who are to receive such notices. All obligations of Landlord hereunder shall be construed as covenants, not conditions; and, except as may be otherwise
expressly provided in this Lease, Tenant may not terminate this Lease for breach of Landlord’s obligations hereunder. 
 All
obligations of Landlord under this Lease will be binding upon Landlord only during the period of its ownership of the Premises and not thereafter. The term “Landlord” in this Lease shall mean only the owner for the time being of the
Premises. Upon the transfer by such owner of its interest in the Premises, such owner shall thereupon be released and discharged from all obligations of Landlord thereafter accruing, but such obligations shall be binding during the Term upon each
new owner for the duration of such owner’s ownership. 
 32. Inspection and Access. Landlord and its agents, representatives,
and contractors may enter the Premises at any reasonable time to inspect the Premises and to make such repairs as may be required or permitted pursuant to this Lease and for any other business purpose. Landlord and Landlord’s representatives
may enter the Premises during business hours on not less than 48 hours advance written notice (except in the case of emergencies in which case no such notice shall be required and such entry may be at any time) for the purpose of effecting any such
repairs, inspecting the Premises, showing the Premises to prospective purchasers and, during the last year of the Term, to prospective tenants or for any other business purpose. Landlord may erect a suitable sign on the Premises stating the Premises
are available to let or that the Project is available for sale. Landlord may grant easements, make public dedications, designate Common Areas and create restrictions on or about the Premises, provided that no such easement, dedication,
designation or restriction materially, adversely affects Tenant’s use or occupancy of the Premises for the Permitted Use. At Landlord’s request, Tenant shall execute such instruments as may be necessary for such easements, dedications or
restrictions. Tenant shall at all times, except in the case of emergencies, have the right to escort Landlord or its agents, representatives, contractors or guests while the same are in the Premises, provided such escort does not materially and
adversely affect Landlord’s access rights hereunder. 
 33. Security. Tenant acknowledges and agrees that security devices and
services, if any, while intended to deter crime may not in given instances prevent theft or other criminal acts and that 

			
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Landlord is not providing any security services with respect to the Premises. Tenant agrees that Landlord shall not be liable to Tenant for, and Tenant waives any claim against Landlord with
respect to, any loss by theft or any other damage suffered or incurred by Tenant in connection with any unauthorized entry into the Premises or any other breach of security with respect to the Premises. Tenant shall be solely responsible for the
personal safety of Tenant’s officers, employees, agents, contractors, guests and invitees while any such person is in, on or about the Premises and/or the Project. Tenant shall at Tenant’s cost obtain insurance coverage to the extent
Tenant desires protection against such criminal acts. 
 34. Force Majeure. Except for the payment of Rent, neither Tenant nor
Landlord shall be responsible or liable for delays in the performance of its obligations hereunder when caused by, related to, or arising out of acts of God, sinkholes or subsidence, strikes, lockouts, or other labor disputes, embargoes,
quarantines, weather, national, regional, or local disasters, calamities, or catastrophes, inability to obtain labor or materials (or reasonable substitutes therefor) at reasonable costs or failure of, or inability to obtain, utilities necessary for
performance, governmental restrictions, orders, limitations, regulations, or controls, national emergencies, delay in issuance or revocation of permits, enemy or hostile governmental action, terrorism, insurrection, riots, civil disturbance or
commotion, fire or other casualty, and other similar causes or events beyond the reasonable control of such party (“Force Majeure”). 

35. Brokers. Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person
(collectively, “Broker”) in connection with this transaction and that no Broker brought about this transaction, other than Cornish & Carey Commercial, NKF and Jones Lang LaSalle. Landlord and Tenant each hereby agree
to indemnify and hold the other harmless from and against any claims by any Broker, other than the broker, if any named in this Section 35, claiming a commission or other form of compensation by virtue of having dealt with Tenant or
Landlord, as applicable, with regard to this leasing transaction. 
 36. Limitation on Landlord’s Liability. NOTWITHSTANDING
ANYTHING SET FORTH HEREIN OR IN ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT TO THE CONTRARY: (A) LANDLORD SHALL NOT BE LIABLE TO TENANT OR ANY OTHER PERSON FOR (AND TENANT AND EACH SUCH OTHER PERSON ASSUME ALL RISK OF) LOSS, DAMAGE OR
INJURY, WHETHER ACTUAL OR CONSEQUENTIAL TO: TENANT’S PERSONAL PROPERTY OF EVERY KIND AND DESCRIPTION, INCLUDING, WITHOUT LIMITATION TRADE FIXTURES, EQUIPMENT, INVENTORY, SCIENTIFIC RESEARCH, SCIENTIFIC EXPERIMENTS, LABORATORY ANIMALS, PRODUCT,
SPECIMENS, SAMPLES, AND/OR SCIENTIFIC, BUSINESS, ACCOUNTING AND OTHER RECORDS OF EVERY KIND AND DESCRIPTION KEPT AT THE PREMISES AND ANY AND ALL INCOME DERIVED OR DERIVABLE THEREFROM; (B) THERE SHALL BE NO PERSONAL RECOURSE TO LANDLORD FOR ANY
ACT OR OCCURRENCE IN, ON OR ABOUT THE PREMISES OR ARISING IN ANY WAY UNDER THIS LEASE OR ANY OTHER AGREEMENT BETWEEN LANDLORD AND TENANT WITH RESPECT TO THE SUBJECT MATTER HEREOF AND ANY LIABILITY OF LANDLORD HEREUNDER SHALL BE STRICTLY LIMITED
SOLELY TO LANDLORD’S INTEREST IN THE PROJECT OR ANY PROCEEDS FROM SALE OR CONDEMNATION THEREOF AND ANY INSURANCE PROCEEDS PAYABLE IN RESPECT OF LANDLORD’S INTEREST IN THE PROJECT OR IN CONNECTION WITH ANY SUCH LOSS; AND (C) IN NO
EVENT SHALL ANY PERSONAL LIABILITY BE ASSERTED AGAINST LANDLORD IN CONNECTION WITH THIS LEASE NOR SHALL ANY RECOURSE BE HAD TO ANY OTHER PROPERTY OR ASSETS OF LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS.
UNDER NO CIRCUMSTANCES SHALL LANDLORD OR ANY OF LANDLORD’S OFFICERS, DIRECTORS, EMPLOYEES, AGENTS OR CONTRACTORS BE LIABLE FOR INJURY TO TENANT’S BUSINESS OR FOR ANY LOSS OF INCOME OR PROFIT THEREFROM. 

37. Severability. If any clause or provision of this Lease is illegal, invalid or unenforceable under present or future laws, then and
in that event, it is the intention of the parties hereto that the remainder of this Lease shall not be affected thereby. It is also the intention of the parties to this Lease 

			
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that in lieu of each clause or provision of this Lease that is illegal, invalid or unenforceable, there be added, as a part of this Lease, a clause or provision as similar in effect to such
illegal, invalid or unenforceable clause or provision as shall be legal, valid and enforceable. 
 38. Signs; Exterior Appearance.
Except as set forth in this Section 38, Tenant shall not, without the prior written consent of Landlord, which may be granted or withheld in Landlord’s sole discretion: (i) attach any awnings, exterior lights, decorations,
balloons, flags, pennants, banners, painting or other projection to any outside wall of the Project, (ii) use any curtains, blinds, shades or screens other than Landlord’s standard window coverings, (iii) coat or otherwise sunscreen
the interior or exterior of any windows, (iv) place any bottles, parcels, or other articles on the window sills, (v) place any equipment, furniture or other items of personal property on any exterior balcony, or (vi) paint, affix or
exhibit on any part of the Premises or the Project any signs, notices, window or door lettering, placards, decorations, or advertising media of any type which can be viewed from the exterior of the Premises. Interior signs on doors and the directory
tablet shall be inscribed, painted or affixed for Tenant by Landlord, with Landlord and Tenant each responsible for 50% of the cost thereof, and shall be of a size, color and type consistent with Landlord’s signage program for the Project.
Nothing may be placed on the exterior of corridor walls or corridor doors other than Landlord’s standard lettering. The directory tablet shall be provided exclusively for the display of the name and location of tenants. 

Subject to applicable Legal Requirements, Tenant shall have the non-exclusive right to display, at Tenant’s cost and expense, signage
bearing Tenant’s name on the exterior of the Building (i) facing the bay in a location on the Building reasonably acceptable to Landlord and Tenant, and (ii) subject to an equitable arrangement being entered into between Tenant and
the other tenant(s) of the Building, on the southeast corner of the Building in a location on the Building reasonably acceptable to Landlord and Tenant (collectively, “Building Sign”). Tenant shall also have the non-exclusive right
to display, at Landlord’s cost and expense, Tenant’s name on the existing monument sign at the Project (“Monument Sign”). Tenant further acknowledges and agrees that Tenant’s signage on the Monument Sign and the
Building Sign including, without limitation, the location, size, color and type, shall be subject to Landlord’s prior written approval, which shall not be unreasonably withheld and shall be consistent with Landlord’s signage program at the
Project and applicable Legal Requirements and in no event shall Tenant be entitled to more than Tenant’s pro rata share of any such signage. Tenant shall be responsible, at Tenant’s sole cost and expense, for the maintenance of
Tenant’s signage on the Monument Sign and the Building Sign, for the removal of Tenant’s signage from the Monument Sign and the Building Sign at the expiration or earlier termination of this Lease and for the repair all damage resulting
from such removal. 
 Subject to obtaining all necessary and required approvals including, without limitation, as may be required by Legal
Requirements, Landlord will work with Tenant to add a directional sign at the Project, the installation of which shall be at Landlord’s cost. 

39. Right to Extend Term. Tenant shall have the right to extend the Term of the Lease upon the following terms and conditions: 

(a) Extension Rights. Tenant shall have 1 right (an “Extension Right”) to extend the term of this Lease for 2 years
(an “Extension Term”) on the same terms and conditions as this Lease (other than with respect to Base Rent and the Work Letter) by giving Landlord written notice of its election to exercise the Extension Right at least 9 months
prior, and no earlier than 12 months prior, to the expiration of the Base Term of the Lease. 
 Upon the commencement of the Extension Term,
Base Rent shall be payable at the Market Rate (as defined below). Base Rent shall thereafter be adjusted on each annual anniversary of the commencement of such Extension Term by a percentage as determined by Landlord and agreed to by Tenant at the
time the Market Rate is determined. As used herein, “Market Rate” shall mean the then market rental rate for comparable laboratory space in the South San Francisco, California. The Market Rate shall be as determined by Landlord and
agreed to by Tenant. Landlord and Tenant shall use reasonable efforts to agree upon the Market Rate. 

			
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 If, on or before the date which is 180 days prior to the expiration of the Base Term of this
Lease, Tenant has not agreed with Landlord’s determination of the Market Rate during the first year of the Extension Term and the rent escalation after negotiating in good faith, Tenant shall be deemed to have elected arbitration as described
in Section 39(b). Tenant acknowledges and agrees that, if Tenant has elected to exercise the Extension Right by delivering notice to Landlord as required in this Section 39(a), Tenant shall have no right thereafter to rescind
or elect not to extend the term of the Lease for the Extension Term. 
 (b) Arbitration. 

(i) Within 10 days of Tenant’s notice to Landlord of its election (or deemed election) to arbitrate Market
Rate and escalation, each party shall deliver to the other a proposal containing the Market Rate and escalation that the submitting party believes to be correct (“Extension Proposal”). If either party fails to timely submit an
Extension Proposal, the other party’s submitted proposal shall determine the Base Rent and escalation for the Extension Term. If both parties submit Extension Proposals, then Landlord and Tenant shall meet within 7 days after delivery of the
last Extension Proposal and make a good faith attempt to mutually appoint a single Arbitrator (and defined below) to determine the Market Rate and escalation. If Landlord and Tenant are unable to agree upon a single Arbitrator, then each shall, by
written notice delivered to the other within 10 days after the meeting, select an Arbitrator. If either party fails to timely give notice of its selection for an Arbitrator, the other party’s submitted proposal shall determine the Base Rent for
the Extension Term. The 2 Arbitrators so appointed shall, within 5 business days after their appointment, appoint a third Arbitrator. If the 2 Arbitrators so selected cannot agree on the selection of the third Arbitrator within the time above
specified, then either party, on behalf of both parties, may request such appointment of such third Arbitrator by application to any state court of general jurisdiction in the jurisdiction in which the Premises are located, upon 10 days prior
written notice to the other party of such intent. 
 (ii) The decision of the Arbitrator(s) shall be made within 30
days after the appointment of a single Arbitrator or the third Arbitrator, as applicable. The decision of the single Arbitrator shall be final and binding upon the parties. The average of the two closest Arbitrators in a three Arbitrator panel shall
be final and binding upon the parties. Each party shall pay the fees and expenses of the Arbitrator appointed by or on behalf of such party and the fees and expenses of the third Arbitrator shall be borne equally by both parties. If the Market Rate
and escalation are not determined by the first day of the Extension Term, then Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the Extension Term and increased by the Rent Adjustment Percentage
until such determination is made. After the determination of the Market Rate and escalation, the parties shall make any necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then execute an amendment recognizing the Market
Rate and escalation for the Extension Term. 
 (iii) An “Arbitrator” shall be any person appointed by
or on behalf of either party or appointed pursuant to the provisions hereof and: (i) shall be (A) a member of the American Institute of Real Estate Appraisers with not less than 10 years of experience in the appraisal of improved office
and high tech industrial real estate in the greater San Francisco metropolitan area, or (B) a licensed commercial real estate broker with not less than 15 years experience representing landlords and/or tenants in the leasing of high tech or
life sciences space in the greater San Francisco metropolitan area, (ii) devoting substantially all of their time to professional appraisal or brokerage work, as applicable, at the time of appointment and (iii) be in all respects impartial
and disinterested. 
 (c) Rights Personal. The Extension Right is personal to Tenant and is not assignable without
Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with
any Permitted Assignment of this Lease. 

			
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 (d) Exceptions. Notwithstanding anything set forth above to the contrary, at
Landlord’s option, the Extension Right shall not be in effect and Tenant may not exercise the Extension Right: 

(i) during any period of time that Tenant is in Default under any provision of this Lease; or 

(ii) if Tenant has been in Default under any provision of this Lease 3 or more times, whether or not the Defaults are cured,
during the 12 month period immediately prior to the date that Tenant intends to exercise the Extension Right, whether or not the Defaults are cured. 

(e) No Extensions. The period of time within which the Extension Right may be exercised shall not be extended or enlarged by
reason of Tenant’s inability to exercise the Extension Right. 
 (f) Termination. The Extension Right shall, at
Landlord’s option, terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Extension Right, if, after such exercise, but prior to the commencement date of the Extension Term, (i) Tenant fails
to timely cure any default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of the Extension Right to the date of the commencement of the Extension Term, whether or not
such Defaults are cured. 
 40. Right to Expand. 

(a) Right of First Refusal. Each time during the Term that Landlord intends to accept a written proposal (the “Pending
Deal”) to lease the ROFR Space (as hereinafter defined) to a third party, Landlord shall deliver to Tenant written notice (the “Pending Deal Notice”) of the existence of such Pending Deal. For purposes of this
Section 40(a), “ROFR Space” shall mean any space on the second floor of the Building, which is not occupied by a tenant or which is occupied by a then existing tenant whose lease is expiring within 9 months or less and
such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. Tenant shall be entitled to exercise its right under this Section 40(a) only with respect to the entire ROFR Space
described in such Pending Deal Notice. Within 10 days after Tenant’s receipt of the Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “Space Acceptance Notice”) if Tenant elects to lease the ROFR Space.
Tenant’s right to receive the Pending Deal Notice and election to lease or not lease the ROFR Space pursuant to this Section 40(a) is hereinafter referred to as the “Right of First Refusal.” If Tenant elects to
lease the ROFR Space described in the Pending Deal Notice by delivering the Space Acceptance Notice within the required 10 day period, Tenant shall be deemed to agree to lease the ROFR Space on the same general terms and conditions as this Lease
except that the terms of this Lease shall be modified to reflect the terms of the Pending Deal Notice for the rental of the ROFR Space. Tenant acknowledges that the term of the Lease with respect to the ROFR Space and the Term of the Lease with
respect to the then-existing Premises may not be co-terminous. Notwithstanding anything to the contrary contained herein, in no event shall the Work Letter apply to the ROFR Space. If Tenant fails to deliver a Space Acceptance Notice to Landlord
within the required 10 day period, Tenant shall be deemed to have waived its rights under this Section 40(a) to lease the ROFR Space, and Landlord shall have the right to lease the ROFR Space to the third party subject to the Pending
Deal (or an affiliate of such third party) on substantially the same business terms and conditions set forth in the Pending Deal Notice. 

(b) Amended Lease. If: (i) Tenant fails to timely deliver a Space Acceptance Notice, or (ii) after the expiration of a
period of 10 days after Landlord’s delivery to Tenant of a lease amendment or lease agreement for Tenant’s lease of the ROFR Space no lease amendment or lease agreement for the ROFR Space acceptable to both parties each in their sole and
absolute discretion, has been executed, Tenant shall be deemed to have waived its right to lease such ROFR Space. 

			
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 (c) Exceptions. Notwithstanding the above, the Right of
First Refusal shall, at Landlord’s option, not be in effect and may not be exercised by Tenant: 
 (i) during any
period of time that Tenant is in Default under any provision of this Lease; or 
 (ii) if Tenant has been in default under
any provision of this Lease 3 or more times, whether or not the defaults are cured, during the 12 month period prior to the date on which Tenant seeks to exercise the Right of First Refusal. 

(d) Termination. The Right of First Refusal shall, at Landlord’s option, terminate and be of no further force or effect
even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the commencement date of the lease of such ROFR Space, (i) Tenant fails to timely cure any default by Tenant under the Lease;
or (ii) Tenant has defaulted 3 or more times during the period from the date of the exercise of the Right of First Refusal, to the date of the commencement of the lease of the ROFR Space, whether or not such defaults are cured. 

(e) Subordinate. Tenant’s rights in connection with the Right of First Refusal are and shall be subject to and subordinate
to any expansion or extension rights granted in Project prior to the date of this Lease. 
 (f) Rights Personal. The
Right of First Refusal is personal to Tenant and is not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s
interest in the Lease. 
 (g) No Extensions. The period of time within which the Right of First Refusal may be
exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise the Right of First Refusal. 

41. Landlord’s Right to Relocate Tenant. Landlord shall have the right to relocate Tenant, upon 180 days’ prior
written notice, from all or part of the Premises to another area in the Project designated by Landlord (the “Relocation Premises”), provided that: (a) the size of the Relocation Premises is at least equal to the size of the Premises;
and, (b) Landlord pays the reasonable costs of moving Tenant and improving the Relocation Premises to a substantially similar standard as that of the Premises, and reimburses Tenant for all reasonable costs directly incurred by Tenant as a
result of relocation, including without limitation all costs incurred by Tenant replacing Tenant’s letterhead, promotional materials, business cards and similar items. Tenant shall cooperate with Landlord in all reasonable ways to facilitate
relocation. 
 42. Miscellaneous. 

(a) Notices. All notices or other communications between the parties shall be in writing and shall be deemed duly given upon delivery
or refusal to accept delivery by the addressee thereof if delivered in person, or upon actual receipt if delivered by reputable overnight guaranty courier, addressed and sent to the parties at their addresses set forth above. Landlord and Tenant may
from time to time by written notice to the other designate another address for receipt of future notices. 
 (b) Joint and Several
Liability. If and when included within the term “Tenant,” as used in this instrument, there is more than one person or entity, each shall be jointly and severally liable for the obligations of Tenant. 

(c) Financial Information. Tenant shall furnish Landlord with true and complete copies of Tenant’s most recent audited
annual financial statements within 90 days of the end of each of Tenant’s fiscal years during the Term. Upon Landlord’s request from time to time, Tenant shall also furnish Landlord with true and complete copies of any additional financial
information requested by Landlord; provided, however, in no event shall Tenant be required to provide any financial information to Landlord which Tenant does not otherwise prepare (or cause to be prepared) for its own purposes. 

			
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 (d) Recordation. Neither this Lease nor a memorandum of lease shall be filed by
or on behalf of Tenant in any public record. Landlord may prepare and file, and upon request by Landlord Tenant will execute, a memorandum of lease.  

(e) Interpretation. The normal rule of construction to the effect that any ambiguities are to be resolved against the drafting
party shall not be employed in the interpretation of this Lease or any exhibits or amendments hereto. Words of any gender used in this Lease shall be held and construed to include any other gender, and words in the singular number shall be held to
include the plural, unless the context otherwise requires. The captions inserted in this Lease are for convenience only and in no way define, limit or otherwise describe the scope or intent of this Lease, or any provision hereof, or in any way
affect the interpretation of this Lease. 
 (f) Not Binding Until Executed. The submission by Landlord to Tenant of
this Lease shall have no binding force or effect, shall not constitute an option for the leasing of the Premises, nor confer any right or impose any obligations upon either party until execution of this Lease by both parties. 

(g) Limitations on Interest. It is expressly the intent of Landlord and Tenant at all times to comply with applicable law
governing the maximum rate or amount of any interest payable on or in connection with this Lease. If applicable law is ever judicially interpreted so as to render usurious any interest called for under this Lease, or contracted for, charged, taken,
reserved, or received with respect to this Lease, then it is Landlord’s and Tenant’s express intent that all excess amounts theretofore collected by Landlord be credited on the applicable obligation (or, if the obligation has been or would
thereby be paid in full, refunded to Tenant), and the provisions of this Lease immediately shall be deemed reformed and the amounts thereafter collectible hereunder reduced, without the necessity of the execution of any new document, so as to comply
with the applicable law, but so as to permit the recovery of the fullest amount otherwise called for hereunder. 
 (h)
Choice of Law. Construction and interpretation of this Lease shall be governed by the internal laws of the state in which the Premises are located, excluding any principles of conflicts of laws. 

(i) Time. Time is of the essence as to the performance of Tenant’s obligations under this Lease. 

(j) OFAC. Tenant, and all beneficial owners of Tenant, are currently (a) in compliance with and shall at all times during the Term
of this Lease remain in compliance with the regulations of the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of Treasury and any statute, executive order, or regulation relating thereto (collectively, the
“OFAC Rules”), (b) not listed on, and shall not during the term of this Lease be listed on, the Specially Designated Nationals and Blocked Persons List maintained by OFAC and/or on any other similar list maintained by OFAC or
other governmental authority pursuant to any authorizing statute, executive order, or regulation, and (c) not a person or entity with whom a U.S. person is prohibited from conducting business under the OFAC Rules. 

(k) Incorporation by Reference. All exhibits and addenda attached hereto are hereby incorporated into this Lease and made a part
hereof. If there is any conflict between such exhibits or addenda and the terms of this Lease, such exhibits or addenda shall control. 

(l) Entire Agreement. This Lease, including the exhibits attached hereto, constitutes the entire agreement between Landlord and
Tenant pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, letters of intent, negotiations and discussions, whether oral or written, of the parties, and there are no warranties,
representations or other agreements, express or implied, made to either party by the other party in connection with the subject matter hereof except as specifically set forth herein. 

(m) No Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount than the monthly installment of Base
Rent or any Additional Rent will be other than on account of 

			
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the earliest stipulated Base Rent and Additional Rent, nor will any endorsement or statement on any check or letter accompanying a check for payment of any Base Rent or Additional Rent be an
accord and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Rent or to pursue any other remedy provided in this Lease. 

(n) Hazardous Activities. Notwithstanding any other provision of this Lease, Landlord, for itself and its employees, agents and
contractors, reserves the right to refuse to perform any repairs or services in any portion of the Premises which, pursuant to Tenant’s routine safety guidelines, practices or custom or prudent industry practices, require any form of protective
clothing or equipment other than safety glasses. In any such case, Tenant shall contract with parties who are acceptable to Landlord, in Landlord’s reasonable discretion, for all such repairs and services, and Landlord shall, to the extent
required, equitably adjust Tenant’s Share of Operating Expenses in respect of such repairs or services to reflect that Landlord is not providing such repairs or services to Tenant.  

43. Roof Equipment. As long as Tenant is not in default under this Lease, Tenant shall have the right at its sole cost
and expense, subject to compliance with all Legal Requirements, to install, maintain, and remove on the top of the roof of the Building in a location designated by Landlord, equipment (having a diameter and height acceptable to Landlord) for the
transmission or reception of communication of signals as Tenant may from time to time desire (collectively, “the “Roof Equipment”) on the following terms and conditions: 

(a) Requirements. Tenant shall submit to Landlord (i) the plans and specifications for the installation of the Roof
Equipment, (ii) copies of all required governmental and quasi-governmental permits, licenses, and authorizations that Tenant will and must obtain at its own expense, with the cooperation of Landlord, if necessary for the installation and
operation of the Roof Equipment, and (iii) an insurance policy or certificate of insurance evidencing insurance coverage as required by this Lease and any other insurance as reasonably required by Landlord for the installation and operation of
the Roof Equipment. Landlord shall not unreasonably withhold or delay its approval for the installation and operation of the Roof Equipment; provided, however, that Landlord may reasonably withhold its approval if the installation or
operation of the Roof Equipment (A) may damage the structural integrity of the Building, (B) may void, terminate, or invalidate any applicable roof warranty, (C) may interfere with any service provided by Landlord or any tenant of the
Building, (D) may reduce the leasable space in the Building, or (E) is not properly screened from the viewing public.  

(b) No Damage to Roof. If installation of the Roof Equipment requires Tenant to make any roof cuts or perform any other roofing
work, such cuts shall only be made to the roof area of the Building located directly above the Premises and only in the manner designated in writing by Landlord; and any such installation work (including any roof cuts or other roofing work) shall be
performed by Tenant, at Tenant’s sole cost and expense by a roofing contractor designated by Landlord. If Tenant or its agents shall otherwise cause any damage to the roof during the installation, operation, and removal of the Roof Equipment
such damage shall be repaired promptly at Tenant’s expense and the roof shall be restored in the same condition it was in before the damage. Landlord shall not charge Tenant Additional Rent for the installation and use of the Roof Equipment.
If, however, Landlord’s insurance premium or Tax assessment increases as a result of the Roof Equipment, Tenant shall pay such increase as Additional Rent within ten (10) days after receipt of a reasonably detailed invoice from Landlord.
Tenant shall not be entitled to any abatement or reduction in the amount of Rent payable under this Lease if for any reason Tenant is unable to use the Roof Equipment. In no event whatsoever shall the installation, operation, maintenance, or removal
of the Roof Equipment by Tenant or its agents void, terminate, or invalidate any applicable roof warranty. 
 (c)
Protection. The installation, operation, and removal of the Roof Equipment shall be at Tenant’s sole risk. Tenant shall indemnify, defend, and hold Landlord harmless from and against any and all claims, costs, damages, liabilities and
expenses (including, but not limited to, attorneys’ fees) of every kind and description that may arise out of or be connected in any way with Tenant’s installation, operation, or removal of the Roof Equipment. 

			
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 (d) Removal. At the expiration or earlier termination of this Lease or the
discontinuance of the use of the Roof Equipment by Tenant, Tenant shall, at its sole cost and expense, remove the Roof Equipment from the Building. Tenant shall leave the portion of the roof where the Roof Equipment was located in good order and
repair, reasonable wear and tear excepted. If Tenant does not so remove the Roof Equipment, Tenant hereby authorizes Landlord to remove and dispose of the Roof Equipment and charge Tenant as Additional Rent for all costs and expenses incurred by
Landlord in such removal and disposal. Tenant agrees that Landlord shall not be liable for any Roof Equipment or related property disposed of or removed by Landlord. 

(e) No Interference. The Roof Equipment shall not interfere with the proper functioning of any telecommunications equipment or
devices that have been installed or will be installed by Landlord or for any other tenant or future tenant of the Building. Tenant acknowledges that other tenant(s) may have approval rights over the installation and operation of telecommunications
equipment and devices on or about the roof, and that Tenant’s right to install and operate the Roof Equipment is subject and subordinate to the rights of such other tenants. Tenant agrees that any other tenant of the Building that currently has
or in the future takes possession of any portion of the Building will be permitted to install such telecommunication equipment that is of a type and frequency that will not cause unreasonable interference to the Roof Equipment. 

(f) Relocation. Landlord shall have the right, at its expense and after 60 days prior notice to Tenant, to relocate the Roof
Equipment to another site on the roof of the Building as long as such site reasonably meets Tenant’s sight line and interference requirements and does not unreasonably interfere with Tenant’s use and operation of the Roof Equipment.

 (g) Access. Landlord grants to Tenant the right of ingress and egress on a 24 hour 7 day per week basis to install,
operate, and maintain the Roof Equipment. Before receiving access to the roof of the Building, Tenant shall give Landlord at least 24 hours’ advance written or oral notice, except in emergency situations, in which case 2 hours’ advance
oral notice shall be given by Tenant. Landlord shall supply Tenant with the name, telephone, and pager numbers of the contact individual(s) responsible for providing access during emergencies. 

(h) Appearance. If permissible by Legal Requirements, the Roof Equipment shall be painted the same color as the Building so as
to render the Roof Equipment virtually invisible from ground level. 
 (i) No Assignment. The right of Tenant to use
and operate the Roof Equipment shall be personal solely to Tenant, and (i) no other person or entity shall have any right to use or operate the Roof Equipment, and (ii) except in connection with a Permitted Assignment, Tenant shall not
assign, convey, or otherwise transfer to any person or entity any right, title, or interest in all or any portion of the Roof Equipment or the use and operation thereof. 

[ Signatures on next page ] 

			
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 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of the day and year first
above written. 
  

							
	TENANT:
	
	 CYTOMX THERAPEUTICS, INC.,
 a
Delaware corporation

		
	By:	 	 /s/ Sean McCarthy

	Its:	 	 CEO

	
	LANDLORD:
	
	 ARE-TECHNOLOGY CENTER SSF, LLC,

a Delaware limited liability company

		
	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
		 	 a Delaware limited partnership,

managing member

			
		 	By:	 	 ARE-QRS CORP.,
 a Maryland
corporation,
 general partner

				
		 		 	    By:	 	 /s/ Eric S. Johnson

		 		 	    Its:	 	 Vice President

		 		 		 	 Real Estate Legal Affairs

 343 Oyster/CytomX - Page 1 

 

 EXHIBIT A TO LEASE 

DESCRIPTION OF PREMISES 
  

 
 

 

 343 Oyster/CytomX - Page 1 

 

 EXHIBIT B TO LEASE 

DESCRIPTION OF PROJECT 
 The land
referred to in this policy is situated in the State of California, County of San Mateo, City of South San Francisco and is described as follows: 

PARCEL I: 
 Parcel A, as shown on that certain
Parcel Map entitled, “PARCEL MAP NO. 98-033” filed for Record on December 30, 1998 in Book 71 of Parcel Maps at Pages 13 and 14, Series No. 98222035, San Mateo County Records. 

PARCEL II: 
 Ingress, Egress and Public Utilities

 Affects: A non-exclusive easement for ingress, egress and utility purposes in, on, over, under and along all that certain real property situate in the
City of South San Francisco, County of San Mateo, State of California, being over a portion of Parcel 1 as said Parcel 1 is shown on that certain Parcel Map, filed for record on November 12, 1973 in Book 22 of Parcel Maps at Page 45, San Mateo
County Records; said easement being more particularly described as follows: 
 BEGINNING at the Southwest corner of said Parcel 1; thence from said Point of
Beginning Northerly along the Westerly line of said Parcel 1 the following courses; North 0° 00’ 55” West 632.44 feet, South 89° 59’ 05” West 10.00 feet and North 0° 00’ 55” West 112.00 feet to a point
thereon; thence leaving last said line North 89° 59’ 05” East 25.00 feet; thence South 0° 00’ 55” East 743.67 feet to a point on the general Southerly line of said Parcel 1; thence Westerly along last line South 87°
03’ 05” West 15.02 feet to the Point of Beginning. 
 PARCEL III: 

Ingress and Egress 
 Affects: A non-exclusive easement for
ingress, egress, purposes in, on, over, under and along all that certain real property situated in the City of south San Francisco, County of San Mateo, State of California being a portion of Parcel 1, as said Parcel 1 is shown on that certain
Parcel Map, filed for record on November 12, 1973 in Book 22 of Parcel Maps at Page 45, San Mateo County Records; said easement being over a strip of land 30.00 feet in width lying Westerly of and immediately adjacent to the following described
Easterly line thereof. 

 343 Oyster/CytomX - Page 2 

 

 BEGINNING at the Northeast corner of said Parcel 1; thence from said Point of Beginning Southeasterly along
the general Easterly line of said Parcel 1 the following courses. South 0° 00’ 55” East 365.43 feet, tangent to the proceeding course along the arc of curve to the left having a radius of 85.00 feet and central angle of 20°
29’ 29”, an arc distance of 30.40 feet, tangent to the proceeding curve South 20° 30’ 24” East 137.30 feet, tangent to the proceeding course along the arc of a curve to the left having a radius of 85.00 feet and a central
angle of 39° 30’ 31”, an arc distance of 58.61 feet, tangent to the proceeding curve South 60° 00’ 55” East 66.36 feet, tangent to the proceeding course along the arc of a curve to the right having a radius of 115.00 feet
and a central angle of 60° 00’ 00”, an arc distance of 120.43 feet and tangent to the proceeding curve South 0° 00’ 55” East 73.76 feet to the southeast corner of said Parcel 1, last said point being also the Southerly
terminus of the easement described herein, said easement being contiguous for its full width at its Northerly terminus to the Northerly line of said Parcel 1 and at its Southerly terminus to the southerly line of said Parcel 1. 

PARCEL IV: 
 Slope Easement 

Affects: A non-exclusive easement for slope purposes in, on, over, under and along all that certain real property situate in the City of South San Francisco,
County of San Mateo, State of California; said easement being over a portion of Parcel 3, as said Parcel is shown on that certain Parcel Map filed for record on January 15, 1974 in Book 23 of Parcel Map at Page 27, San Mateo County Records;
said easement being more particularly described as follows: 
 BEGINNING at a point on the general Northerly line of said Parcel 3, distant thereon North
89° 59’ 05” East 25.00 feet from the Northwesterly corner thereof; thence from said Point of Beginning Easterly along the Northerly line of said Parcel 3 North 89° 59’ 05” East 21.00 feet to a point thereon; thence
leaving last said line South 08° 35’ 00” East 13.00 feet; thence tangent to the preceding course along the arc of a curve to the left having a radius of 60.00 feet and a central angle of 67° 42’ 23” an arc distance of
70.90 feet; thence Southerly along a line being parallel with and perpendicularly distant 93.03 feet Easterly from the Westerly line of said Parcel 3; thence South 0° 00’ 55” East 21.74 feet; thence South 89° 59’ 05”
West 68.03 feet; thence North 0° 00’ 55” West 83.94 feet to the Point of Beginning. 
 EXCEPTING THEREROM any portion lying within Parcel I of
Parcels II, III and IV. 

			
	Work Letter – Tenant Build		343 Oyster/CytomX - Page 1

  

 EXHIBIT C TO LEASE 

WORK LETTER 

THIS WORK LETTER dated             ,
         (this “Work Letter”) is made and entered into by and between ARE-TECHNOLOGY CENTER SSF, LLC, a Delaware limited liability company (“Landlord”), and CYTOMX
THERAPEUTICS, INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the Lease Agreement dated             ,
         (the “Lease”), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease. 

1. General Requirements. 

(a) Tenant’s Authorized Representative. Tenant designates Fletcher Payne and Sean McCarthy (either such individual acting
alone, “Tenant’s Representative”) as the only persons authorized to act for Tenant pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any request, approval, inquiry or other communication
(“Communication”) from or on behalf of Tenant in connection with this Work Letter unless such Communication is in writing from Tenant’s Representative. Tenant may change either Tenant’s Representative at any time upon not
less than 5 business days advance written notice to Landlord. Neither Tenant nor Tenant’s Representative shall be authorized to direct Landlord’s contractors in the performance of Landlord’s Work (as hereinafter defined). 

(b) Landlord’s Authorized Representative. Landlord designates Todd Miller and Rob Kain (either such individual acting
alone, “Landlord’s Representative”) as the only persons authorized to act for Landlord pursuant to this Work Letter. Tenant shall not be obligated to respond to or act upon any request, approval, inquiry or other Communication
from or on behalf of Landlord in connection with this Work Letter unless such Communication is in writing from Landlord’s Representative. Landlord may change either Landlord’s Representative at any time upon not less than 5 business days
advance written notice to Tenant. Landlord’s Representative shall be the sole persons authorized to direct Landlord’s contractors in the performance of Landlord’s Work. 

(c) Architects, Consultants and Contractors. Landlord and Tenant hereby acknowledge and agree that: (i) the general
contractor and any subcontractors for the Tenant Improvements shall be selected by Landlord, subject to Tenant’s approval, which approval shall not be unreasonably withheld, conditioned or delayed, and (ii) DGA shall be the architect (the
“TI Architect”) for the Tenant Improvements.  
 2. Tenant Improvements. 

(a) Tenant Improvements Defined. As used herein, “Tenant Improvements” shall mean all improvements to the
Project of a fixed and permanent nature as shown on the approved TI Construction Drawings, as defined in Section 2(c) below. Other than Landlord’s Work (as defined in Section 3(a) below, Landlord shall not have any
obligation whatsoever with respect to the finishing of the Premises for Tenant’s use and occupancy. 
 (b)
Tenant’s Space Plans. Landlord and Tenant acknowledge and agree that the plan prepared by the TI Architect attached hereto as Schedule 1 (the “Space Plan”) and the scope of work attached hereto as Schedule
2 (“Scope of Work”) have been approved by both Landlord and Tenant. Tenant shall be solely responsible for all costs incurred by Landlord to alter the Building (or Landlord’s plans for the Building) as a result of
Tenant’s requested changes to such Space Plan. 
 (c) Working Drawings. Not later than 7 business days following
the mutual execution and delivery of the Lease, Landlord shall cause the TI Architect to prepare and deliver to Tenant for review and comment construction plans, specifications and drawings for the Tenant Improvements (“TI Construction
Drawings”), which TI Construction Drawings shall be prepared substantially in accordance 

			
	Work Letter – Tenant Build		343 Oyster/CytomX - Page 2

  

 
with the Space Plan. Tenant shall be solely responsible for ensuring that the TI Construction Drawings reflect Tenant’s requirements for the Tenant Improvements. Tenant shall deliver its
written comments on the TI Construction Drawings to Landlord not later than 10 business days after Tenant’s receipt of the same; provided, however, that Tenant may not disapprove any matter that is consistent with the Space Plan without
submitting a Change Request. Landlord and the TI Architect shall consider all such comments in good faith and shall, within 10 business days after receipt, notify Tenant how Landlord proposes to respond to such comments, but Tenant’s review
rights pursuant to the foregoing sentence shall not delay the design or construction schedule for the Tenant Improvements. Any disputes in connection with such comments shall be resolved in accordance with Section 2(d) hereof. Provided
that the design reflected in the TI Construction Drawings is consistent with the Space Plan, Tenant shall approve the TI Construction Drawings submitted by Landlord, unless Tenant submits a Change Request. Once approved by Tenant, subject to the
provisions of Section 4 below, Landlord shall not materially modify the TI Construction Drawings except as may be reasonably required in connection with the issuance of the TI Permit (as defined in Section 3(b) below).
Landlord shall obtain Tenant’s prior written approval (which approval shall not be unreasonably withheld or delayed) of modifications to the TI Construction Drawings that are required in connection with the issuance of the TI Permit. 

(d) Approval and Completion. It is hereby acknowledged by Landlord and Tenant that the TI Construction Drawings must be
completed and approved not later than April 28, 2013, in order for the Landlord’s Work to be Substantially Complete by the Target Commencement Date (as defined in the Lease). Upon any dispute regarding the design of the Tenant
Improvements, which is not settled within 10 business days after notice of such dispute is delivered by one party to the other, Tenant may make the final decision regarding the design of the Tenant Improvements, provided (i) Tenant acts
reasonably and such final decision is either consistent with or a compromise between Landlord’s and Tenant’s positions with respect to such dispute, (ii) to the extent that such decision is not consistent with the Space Plan and/or
the TI Construction Drawings, that all costs and expenses resulting from any such decision by Tenant shall be payable by Tenant, and (iii) Tenant’s decision will not affect the base Building, structural components of the Building or any
Building systems. Any changes to the TI Construction Drawings following Landlord’s and Tenant’s approval of same requested by Tenant shall be processed as provided in Section 4 hereof. 

3. Performance of Landlord’s Work. 

(a) Definition of Landlord’s Work. As used herein, “Landlord’s Work” shall mean the work of
constructing the Tenant Improvements. 
 (b) Commencement and Permitting. Landlord shall commence construction of the
Tenant Improvements upon obtaining a building permit (the “TI Permit”) authorizing the construction of the Tenant Improvements consistent with the TI Construction Drawings approved by Tenant. The cost of obtaining the TI Permit
shall be payable by Landlord. Tenant shall assist Landlord in obtaining the TI Permit. If any Governmental Authority having jurisdiction over the construction of Landlord’s Work or any portion thereof shall impose terms or conditions upon the
construction thereof that: (i) are inconsistent with Landlord’s obligations hereunder, (ii) increase the cost of constructing Landlord’s Work, or (iii) will materially delay the construction of Landlord’s Work, Landlord
and Tenant shall reasonably and in good faith seek means by which to mitigate or eliminate any such adverse terms and conditions. 

(c) Completion of Landlord’s Work. Landlord shall substantially complete or cause to be substantially completed
Landlord’s Work in a good and workmanlike manner, in accordance with the TI Permit subject, in each case, to Minor Variations and normal “punch list” items of a non-material nature that do not interfere with the use of the Premises
(“Substantial Completion” or “Substantially Complete”). Upon Substantial Completion of Landlord’s Work, Landlord shall require the TI Architect and the general contractor to execute and deliver, for the benefit
of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute of Architects (“AIA”) document G704. For purposes of this Work Letter, “Minor Variations” shall mean any
modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or to obtain or to comply with any required permit 

			
	Work Letter – Tenant Build		343 Oyster/CytomX - Page 3

  

 
(including the TI Permit); (ii) to comply with any request by Tenant for modifications to Landlord’s Work; (iii) to comport with good design, engineering, and construction
practices that are not material; or (iv) to make reasonable adjustments for field deviations or conditions encountered during the construction of Landlord’s Work. 

(d) Selection of Materials. Where more than one type of material or structure is indicated on the TI Construction Drawings
approved by Landlord and Tenant, the option will be selected at Landlord’s reasonable discretion. As to all building materials and equipment that Landlord is obligated to supply under this Work Letter, Landlord shall select the manufacturer
thereof in its reasonable discretion. 
 (e) Delivery of the Premises. When Landlord’s Work is Substantially Complete,
subject to the remaining terms and provisions of this Section 3(e), Tenant shall accept the Premises. Tenant’s taking possession and acceptance of the Premises shall not constitute a waiver of: (i) any warranty with respect to
workmanship (including installation of equipment) or material (exclusive of equipment provided directly by manufacturers), (ii) any non-compliance of Landlord’s Work with applicable Legal Requirements, or (iii) any claim that
Landlord’s Work was not completed substantially in accordance with the TI Construction Drawings (subject to Minor Variations and such other changes as are permitted hereunder) (collectively, a “Construction Defect”). Tenant
shall have one year after Substantial Completion within which to notify Landlord of any such Construction Defect discovered by Tenant, and Landlord shall use reasonable efforts to remedy or cause the responsible contractor to remedy any such
Construction Defect within 30 days thereafter. Notwithstanding the foregoing, Landlord shall not be in default under the Lease if the applicable contractor, despite Landlord’s reasonable efforts, fails to remedy such Construction Defect within
such 30-day period, in which case Landlord shall have no further obligation with respect to such Construction Defect other than to cooperate, at no cost to Landlord, with Tenant should Tenant elect to pursue a claim against such contractor, provided
that Tenant shall defend with counsel reasonably acceptable to Landlord, indemnify and hold Landlord harmless from and against any claims arising out of or in connection with any such claim. 

Tenant shall be entitled to receive the benefit of all construction warranties and manufacturer’s equipment warranties relating to
equipment installed in the Premises. If requested by Tenant, Landlord shall attempt to obtain extended warranties from manufacturers and suppliers of such equipment, but the cost of any such extended warranties shall be borne solely by Tenant.
Landlord shall promptly undertake and complete, or cause to be completed, all punch list items. 
 (f) Commencement Date
Delay. Except as otherwise provided in the Lease, Delivery of the Premises shall occur when Landlord’s Work has been Substantially Completed, except to the extent that completion of Landlord’s Work shall have been actually delayed by
any one or more of the following causes (“Tenant Delay”): 
 (i) Tenant’s Representative was not
available to give or receive any Communication or to take any other action required to be taken by Tenant hereunder; 
 (ii)
Tenant’s request for Change Requests (as defined in Section 4(a) below) whether or not any such Change Requests are actually performed; 

(iii) Construction of any Change Requests; 

(iv) Tenant’s request for materials, finishes or installations requiring unusually long lead times; 

(v) Tenant’s delay in reviewing, revising or approving plans and specifications beyond the periods set forth herein; 

			
	Work Letter – Tenant Build		343 Oyster/CytomX - Page 4

  

 (vi) Tenant’s delay in providing information critical to the normal
progression of the Project. Tenant shall provide such information as soon as reasonably possible, but in no event longer than one week after receipt of any request for such information from Landlord; 

(vii) Tenant’s delay in making payments to Landlord for Excess TI Costs (as defined in Section 5(b) below); or

 (viii) Any other act or omission by Tenant or any Tenant Party (as defined in the Lease), or persons employed by any of
such persons. 
 If Delivery is delayed for any of the foregoing reasons, then Landlord shall cause the TI Architect to certify the date on which the Tenant
Improvements would have been Substantially Completed but for such Tenant Delay and such certified date shall be the date of Delivery. 
 4.
Changes. Any changes requested by Tenant to the Tenant Improvements after the delivery and approval by Landlord of the Space Plan shall be requested and instituted in accordance with the provisions of this Section 4 and shall be
subject to the written approval of Landlord and the TI Architect, such approval not to be unreasonably withheld, conditioned or delayed. 

(a) Tenant’s Request For Changes. If Tenant shall request changes to the Tenant Improvements (“Changes”),
Tenant shall request such Changes by notifying Landlord in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent of any such
Change. Such Change Request must be signed by Tenant’s Representative. Landlord shall, before proceeding with any Change, use commercially reasonable efforts to respond to Tenant as soon as is reasonably possible with an estimate of:
(i) the time it will take, and (ii) the architectural and engineering fees and costs that will be incurred, to analyze such Change Request (which costs shall be paid by Tenant to the extent actually incurred, whether or not such change is
implemented). Landlord shall thereafter submit to Tenant in writing, within 5 business days of receipt of the Change Request (or such longer period of time as is reasonably required depending on the extent of the Change Request), an analysis of the
additional cost or savings involved, including, without limitation, architectural and engineering costs and the period of time, if any, that the Change will extend the date on which Landlord’s Work will be Substantially Complete. Any such delay
in the completion of Landlord’s Work caused by a Change, including any suspension of Landlord’s Work while any such Change is being evaluated and/or designed, shall be Tenant Delay. 

(b) Implementation of Changes. If Tenant: (i) approves in writing the cost or savings and the estimated extension in the
time for completion of Landlord’s Work, if any, and (ii) deposits with Landlord any Excess TI Costs required in connection with such Change, Landlord shall cause the approved Change to be instituted. Notwithstanding any approval or
disapproval by Tenant of any estimate of the delay caused by such proposed Change, the TI Architect’s determination of the amount of Tenant Delay in connection with such Change shall be final and binding on Landlord and Tenant. 

5. Costs. 
 (a)
TI Costs. Landlord shall be solely responsible for the payment of all design, permits and construction and related costs and expenses in connection with the construction of the Tenant Improvements, including, without limitation, the cost of
preparing the TI Construction Drawings and the Space Plans and Landlord’s out-of-pocket expenses (collectively, “TI Costs”). Notwithstanding anything to the contrary contained herein, in no event shall Landlord be required to
pay for any furniture, personal property or other non-Building system materials or equipment, including, but not limited to, Tenant’s voice or data cabling, non-ducted biological safety cabinets and other scientific equipment not incorporated
into the Tenant Improvements (collectively “FF&E”), which FF&E shall be at Tenant’s option and cost. 

(b) Excess TI Costs. Notwithstanding anything to the contrary contained herein, Tenant acknowledges and agrees that Landlord shall have
no responsibility for any costs arising from or related 

			
	Work Letter – Tenant Build		343 Oyster/CytomX - Page 5

  

 
to (i) Tenant’s changes to the Space Plan, (ii) Tenant’s changes to the TI Construction Drawings that are not consistent with the Space Plan or are requested after the TI
Construction Drawings have been approved by Landlord and Tenant pursuant to Section 2(c) of this Work Letter, (iii) Tenant Delays, (iv) the cost of any of the items identified in the Scope of Work as “Alternates Not
Included Above” (“Alternates”), and (v) the cost of Changes and Change Requests (collectively, “Excess TI Costs”); provided, however, Tenant shall only be responsible for the same to the extent of any
increase in Landlord’s net cost to design and construct the Tenant Improvements. Notwithstanding the foregoing, Tenant shall only be responsible for the cost of Alternates up to the amounts quoted in the Scope of Work and Landlord, as part of
TI Costs, shall be responsible for the cost of Alternates in excess of the amounts quoted in the Scope of Work, except to the extent any such increased cost is the result of Tenant Delays, Changes or Change Requests, in which case Tenant shall be
responsible for such excess costs. Upon Landlord’s request from time to time, Tenant shall deposit with Landlord, as a condition precedent to Landlord’s obligation to complete the Tenant Improvements, 100% of the Excess TI Costs. If Tenant
fails to deposit the Excess TI Costs with Landlord, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including, but not limited to, the right to interest at the Default Rate and the right to assess a
late charge). For purposes of any litigation instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. 

(c) TI Allowance. Landlord shall provide to Tenant a tenant improvement allowance (the “TI Allowance”) of up to
$60,000 in the aggregate, which shall, to the extent used, result in TI Rent as provided below. The TI Allowance may only be applied toward the cost of Alternates elected by Tenant, if any. Tenant shall have no right to the use or benefit (including
any reduction to or payment of Base Rent) of any portion of the TI Allowance not required for the payment of Alternates. Commencing on the Commencement Date and continuing thereafter on the first day of each month during the Base Term, Tenant shall
pay to Landlord in equal monthly payments the amount necessary to fully amortize the portion of the TI Allowance actually funded by Landlord, if any, with interest at a rate of 9% per annum.  

6. Tenant Access. 

(a) Tenant’s Access Rights. Landlord hereby agrees to permit Tenant access, at Tenant’s sole risk and expense, to the
Building (i) 10 days prior to the Commencement Date to perform any work (“Tenant’s Work”) required by Tenant other than Landlord’s Work, provided that such Tenant’s Work is coordinated with the TI Architect and
the general contractor, and complies with the Lease and all other reasonable restrictions and conditions Landlord may impose, and (ii) prior to the completion of Landlord’s Work, to inspect and observe work in process; all such access
shall be during normal business hours or at such other times as are reasonably designated by Landlord. Notwithstanding the foregoing, Tenant shall have no right to enter onto the Premises or the Project unless and until Tenant shall deliver to
Landlord evidence reasonably satisfactory to Landlord demonstrating that any insurance reasonably required by Landlord in connection with such pre-commencement access (including, but not limited to, any insurance that Landlord may require pursuant
to the Lease) is in full force and effect. Any entry by Tenant shall comply with all established safety practices of Landlord’s contractor and Landlord until completion of Landlord’s Work and acceptance thereof by Tenant. 

(b) No Interference. Neither Tenant nor any Tenant Party (as defined in the Lease) shall interfere with the performance of
Landlord’s Work, nor with any inspections or issuance of final approvals by applicable Governmental Authorities, and upon any such interference, Landlord shall have the right to exclude Tenant and any Tenant Party from the Premises and the
Project until Substantial Completion of Landlord’s Work. 
 (c) No Acceptance of Premises. The fact that Tenant may, with
Landlord’s consent, enter into the Project prior to the date Landlord’s Work is Substantially Complete for the purpose of performing Tenant’s Work shall not be deemed an acceptance by Tenant of possession of the Premises, but in such
event Tenant shall defend with counsel reasonably acceptable by Landlord, indemnify and hold Landlord harmless from and against any loss of or damage to Tenant’s property, completed work, fixtures, equipment, materials or merchandise, and from
liability for death of, or injury to, any person, caused by the act or omission of Tenant or any Tenant Party. 

			
	Work Letter – Tenant Build		343 Oyster/CytomX - Page 6

  

 7. Miscellaneous. 

(a) Consents. Whenever consent or approval of either party is required under this Work Letter, that party shall not unreasonably
withhold, condition or delay such consent or approval, unless expressly set forth herein to the contrary. 
 (b)
Modification. No modification, waiver or amendment of this Work Letter or of any of its conditions or provisions shall be binding upon Landlord or Tenant unless in writing signed by Landlord and Tenant. 

			
	Work Letter – Tenant Build		343 Oyster/CytomX - Page 7

  

 Schedule 1 

Space Plan 
  

 
 

 

			
	Work Letter – Tenant Build	  	343 Oyster/CytomX - Page 8

  

 Schedule 2 

Scope of Work 
  

											
	Project:	  	AREE - CytomX	  		  		 		 	

	  
 Location:
	  	  
 343 Oyster Point

South San Francisco, Ca
	  		  	Est. No.	 	6	 
		  		  		  	Est by:	 	AP/PP	 	
					
	Date:	  	March 6, 2013	  		  	    File:	 	3-6-13 - Cytomx Scope of Work

CYTOMX SCOPE OF WORK 
  

							
	 	  	 	  	 	  	 ITEM DESCRIPTION

		  	DIRECT COSTS	  		  	
				
	 20100
	  	SURVEY & LAYOUT	  		  	layout new labs, offices, conference rooms, vivarium
				
	 20500
	  	DEMOLITION	  		  	 selective interior demo per plan, includes removal of floor covering as necessary

and partial ceiling tile removal.

	 20700
	  	CONCRETE SAWCUT & PATCH	  		  	
	 20800
	  	ASBESTOS REMOVAL	  		  	n.i.c.
	 25000
	  	SITE CONCRETE	  		  	signage upgrades for HC parking - excludes site concrete
				
	 30000
	  	ADA IMPROVEMENTS	  		  	Per LBI letter dated 10/17/12 based on DGA survey letter dated 10/1/12. Note that Existing Showers are being demoed
				
	 33000
	  	EQUIPMENT ENCLOSURE	  		  	Existing trash enclosure to be modified to house new generator. Build new trash enclosure on West side of loading dock.
				
	 50000
	  	STRUCTURAL STEEL	  		  	
	 55000
	  	MISCELLANEOUS METAL	  		  	
				
	 60000
	  	ROUGH CARPENTRY	  		  	backing for casework, millwork, screens, etc.
				
	 65000
	  	MILLWORK & CABINETS	  		  	existing to remain
				
	 66000
	  	FINISH CARPENTRY	  		  	misc.trim@doors, casework, millwork, etc.
				
	 67000
	  	LAB CASEWORK	  		  	New base cabinets, sink assemblies, vertical pipe chases, reagent racks, deck mounted service fixtures & epoxy tops.
				
	 72000
	  	INSULATION	  		  	 wall insulation @ interior walls including vivarium, labs, offices & conference

rooms.

	 74600
	  	ROOF SCREEN	  		  	n.i.c.
	 75000
	  	MEMBRANE ROOFING	  		  	
	 76000
	  	SHEET METAL	  		  	
	 79200
	  	CAULKING	  		  	
				
	 82000
	  	WOOD & HOLLOW METAL DOORS	  		  	7’ doors to w/ anodized aluminum frames & sidelights in office areas. HM frames & doors in labs w/ vision lite kits & clear tempered glass. Finish hardware.
				
	 83300
	  	ACCORDIAN DOORS	  		  	n.i.c.
				
	 88000
	  	GLASS & GLAZING	  		  	1/4” clear tempered glass @ sidelites.
				
	 92000
	  	LATH & PLASTERING	  		  	
				
	 92500
	  	GYPSUM BOARD	  		  	level 4 finish throughout. Excludes coved corners @ the inside walls and wall to ceiling in the vivarium suite. Hardlid ceiling in vivarium.
				
	 93000
	  	CERAMIC & STONE SURFACE	  		  	
				
	 95000
	  	ACOUSTIC CEILING	  		  	patch (e) tile where walls are demoed. (e) ceiling tiles to remain at areas not affected by construction. Patch ceiling at new office area. Remove ceiling to facilitate new duct work
				
	 96800
	  	FLOOR COVERING	  		  	patch (e) carpet, vct, and sheet vinyl. New VCT in new lab areas.

  

Page 1 
  

 

			
	Work Letter – Tenant Build	  	343 Oyster/CytomX - Page 9

  

							
	 	  	 	  	 	  	 ITEM DESCRIPTION

				
	 98500
	  	EPOXY COATING	  		  	multipart epoxy floors, and walls in vivarium suite including holding rooms, procedure rooms, Ante / gown room and glass wash. Excludes fiberglass reinforced walls
				
	 99000
	  	PAINTING	  		  	paint new construction & affected areas only. Durapoxy @ vivarium hard lid ceilings. No work in bathrooms & lobby.
				
	 101600
	  	TOILET PARTITIONS	  		  	n.i.c.
	 102600
	  	CORNER / WALL GUARDS	  		  	in Vivarium suite
	 104000
	  	SIGNS/I.D. DEVICES	  		  	
	 105200
	  	FIRE EXTINGUISHERS	  		  	
	 105360
	  	AWNINGS	  		  	
	 108000
	  	TOILET ACCESSORIES	  		  	n.i.c. - use (e)
	 108010
	  	MARLITE	  		  	
	 111300
	  	AUDIO-VISUAL EQUIPMENT	  		  	2 new automatic projection screens
	 114000
	  	FOOD SERVICE EQUIPMENT	  		  	n.i.c.
	 125100
	  	WINDOW COVERINGS	  		  	keep (e) 1” horizontal blinds and repair blinds where exterior walls are removed.
				
	 130000
	  	SPECIAL CONSTRUCTION	  		  	relocated cold room from (e) space
				
	 153000
	  	FIRE PROTECTION	  		  	Add / relocate fire sprinklers as required for new walls. Includes fire sprinklers at new fume hoods.
				
	 154000
	  	PLUMBING	  		  	Reuse existing systems. Lab waste, sanitary sewer, vent piping, domestic cold & hot water. Vacuum, CDA, N2,O2,CO2,PVC, DI Piping. Includes allowance of $7,500 in Warm-up cost to startup VAC, CDA & DI. All sinks and drains
will be pumped due to the structural slab.
				
	 155000
	  	HVAC	  		  	use (e) units throughout. P&I new VAV boxes with reheat coils with DDC controls. new lab CAV boxes with reheat coils with DDC controls. Reuse / relocate existing lab or office boxes. New supply and exhaust grilles, relocated
supply and exhaust grilles where feasable. Modifications of mains as required. New reheat coil piping as required. Fume hood connections. P&I fan powered hepas to Tissue Culture and fan powered hepas to Vivarium. Vivarium to have (3) zones:
Holding Room -1, Procedure Room - 1, Corridor, Receiving Storage, Ante Room - 1. Includes commissioning and repairs to HVAC equipment
				
	 159500
	  	ENERGY MANAGEMENT SYSTEM	  		  	modify (e) system
				
	 160000
	  	ELECTRICAL	  		  	demo, safe-off, remove unused lights from site, re-switch lights as needed, new sealed lights @ vivarium, R4000, dual compartment wiremold, EM dedicated lights, new 225kW generator, use (e) ATS, hook up of new fan powered
hepas.
				
	 167200
	  	LIFE SAFETY SYSTEM	  		  	code compliant system per City of SSF
	 167300
	  	SECURITY ALARM SYSTEM	  		  	n.i.c.
	 167400
	  	COMMUNICATION CABLING	  		  	n.i.c.
				
		  	GENERAL CONDITIONS	  		  	
	 1100000
	  	PROJECT SUPERINTENDENT	  		  	full time
	 1150000
	  	PROJECT MANAGER	  		  	part time as required
	 1170000
	  	SAFETY COORDINATOR	  		  	part time as required
	 1200000
	  	TEMPORARY FACILITIES	  		  	temp power distribution, water, phones, & toilets
	 1400000
	  	SUPPLIES & SERVICES	  		  	photos & blueprints
	 1500000
	  	EQUIPMENT	  		  	small tools & supplies, fuel, misc. equipment rentals
	 1700000
	  	CLEAN UP	  		  	progressive & final clean up

  

Page 2 
  

 

			
	Work Letter – Tenant Build		343 Oyster/CytomX - Page 10

  

							
	 	  	 	  	 	  	 ITEM DESCRIPTION

				
		  	OTHER FEES	  		  	
				
	 1800000
	  	DESIGN FEES	  		  	
				
	 1900000
	  	FEES	  		  	
	 1992000
	  	 PERFORMANCE BOND
	  		  	
	 1993000
	  	 GENERAL LIABILITY INSURANCE
	  		  	excludes course of construction insurance
	 1994000
	  	 CONSTRUCTION CONTINGENCY
	  		  	
	 1995000
	  	 OVERHEAD & PROFIT
	  		  	

  

									
	
	ALTERNATES NOT INCLUDED ABOVE
				
	 ALT #1
	  	 Add 2nd Control Zone
	  	$	0	  	  	
				
	 ALT #2
	  	 Add glass wall @ All Hands Room
	  	$	0	  	  	 3ea 3’x7’ clear glass panels set in hollow metal or aluminun frames with high volume water curtain tied into the fire
sprinkler main line per code.

				
	 ALT #3
	  	 Additional Wiremold per Revised Plan
	  	$	8,227	  	  	
				
	 ALT #4
	  	 3 power/data boxes for Conference Room Tables
	  	$	7,120	  	  	 Thin wire or connect track will be used to run power to the Conference Room Tables

				
	 ALT #5
	  	 Add Apprx. 300 SF of Vivarium
	  	$	8,761	  	  	 we only charged for the additional epoxy coatings

				
	 ALT #6
	  	 Added Glass @ Lab & Relocate Fume Hood
	  	$	1,594	  	  	 fume hood relocation cost was $0

				
	 ALT #7
	  	 Add for All Hands Room w/ VCT Flooring, No Glass
	  	$	4,927	  	  	 the original plan had All Hands in an existing open area where we were only adding a wall. Now we need to do additional demo, flooring
and ceiling tie in

				
	 ALT #8
	  	 Server Room Modifications
	  	$	2,418	  	  	
				
	 ALT #9
	  	 CEO Area Modifications
	  	$	3,228	  	  	
				
	 ALT #10
	  	 Allowance for Carpet Tiles and Lighting Upgrades @ the All Hands Room
	  	$	7,644	  	  	 includes a flooring allowance of $9/sf and 2k for electrical fixtues

				
	 ALT #11
	  	 Allowance for Carpet Tiles and Lighting Upgrades @ the All Hands Room
	  	$	8,500	  	  	
				
	 ALT #12
	  	 Carpet @ CEO Office
	  	$	3,000	  	  	 includes removal of (e) carpet

		  		  	  
	  
	 	  	
			 TOTAL FOR ALL ALTERNATES
		 	55,420	  		
		  		  	  
	  
	 	  	

  
 Page 3 

 
  

 343 Oyster/CytomX - Page 1 

 

 EXHIBIT D TO LEASE 

ACKNOWLEDGMENT OF COMMENCEMENT DATE 

This ACKNOWLEDGMENT OF COMMENCEMENT DATE is made this      day of
            ,         , between ARE-TECHNOLOGY CENTER SSF, LLC, a Delaware limited liability company (“Landlord”), and
CYTOMX THERAPEUTICS, INC., a Delaware corporation (“Tenant”), and is attached to and made a part of the Lease dated             ,
         (the “Lease”), by and between Landlord and Tenant. Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease. 

Landlord and Tenant hereby acknowledge and agree, for all purposes of the Lease, that the Commencement Date of the Base Term of the Lease is
            ,          and the termination date of the Base Term of the Lease shall be midnight on
            ,         . In case of a conflict between the terms of the Lease and the terms of this Acknowledgment of Commencement Date, this
Acknowledgment of Commencement Date shall control for all purposes. 
 IN WITNESS WHEREOF, Landlord and Tenant have executed this
ACKNOWLEDGMENT OF COMMENCEMENT DATE to be effective on the date first above written. 
  

									
	TENANT:
	
	 CYTOMX THERAPEUTICS, INC.,

a Delaware corporation

		
	 By:
		  

	 Its:
		  

	
	LANDLORD:
	
	 ARE-TECHNOLOGY CENTER SSF, LLC,

a Delaware limited liability company

			
	By:				ALEXANDRIA REAL ESTATE EQUITIES, L.P.,
					a Delaware limited partnership,
					managing member
				
					By:		 ARE-QRS CORP.,
 a Maryland
corporation,
 general partner

					
							    By:		  

							    Its:		  

			
	Rules and Regulations		343 Oyster/CytomX - Page 1

  

 EXHIBIT E TO LEASE 

Rules and Regulations 

1. The sidewalk, entries, and driveways of the Project shall not be obstructed by Tenant, or any Tenant Party, or used by them for any purpose
other than ingress and egress to and from the Premises. 
 2. Tenant shall not place any objects, including antennas, outdoor furniture,
etc., in the parking areas, landscaped areas or other areas outside of its Premises, or on the roof of the Project. 
 3. Except for animals
assisting the disabled, no animals shall be allowed in the offices, halls, or corridors in the Project. 
 4. Tenant shall not disturb the
occupants of the Project or adjoining buildings by the use of any radio or musical instrument or by the making of loud or improper noises. 

5. If Tenant desires telegraphic, telephonic or other electric connections in the Premises, Landlord or its agent will direct the electrician
as to where and how the wires may be introduced; and, without such direction, no boring or cutting of wires will be permitted. Any such installation or connection shall be made at Tenant’s expense. 

6. Tenant shall not install or operate any steam or gas engine or boiler, or other mechanical apparatus in the Premises, except as
specifically approved in the Lease. The use of oil, gas or inflammable liquids for heating, lighting or any other purpose is expressly prohibited. Explosives or other articles deemed extra hazardous shall not be brought into the Project. 

7. Parking any type of recreational vehicles is specifically prohibited on or about the Project. Except for the overnight parking of operative
vehicles, no vehicle of any type shall be stored in the parking areas at any time. In the event that a vehicle is disabled, it shall be removed within 48 hours. There shall be no “For Sale” or other advertising signs on or about any parked
vehicle. All vehicles shall be parked in the designated parking areas in conformity with all signs and other markings. All parking will be open parking, and no reserved parking, numbering or lettering of individual spaces will be permitted except as
specified by Landlord. 
 8. Tenant shall maintain the Premises free from rodents, insects and other pests. 

9. Landlord reserves the right to exclude or expel from the Project any person who, in the judgment of Landlord, is intoxicated or under the
influence of liquor or drugs or who shall in any manner do any act in violation of the Rules and Regulations of the Project. 
 10. Tenant
shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference in the preservation of good order and cleanliness. Landlord shall not be responsible to Tenant for any loss of property on the Premises, however occurring,
or for any damage done to the effects of Tenant by the janitors or any other employee or person. 
 11. Tenant shall give Landlord prompt
notice of any defects in the water, lawn sprinkler, sewage, gas pipes, electrical lights and fixtures, heating apparatus, or any other service equipment affecting the Premises. 

12. Tenant shall not permit storage outside the Premises, including without limitation, outside storage of trucks and other vehicles, or
dumping of waste or refuse or permit any harmful materials to be placed in any drainage system or sanitary system in or about the Premises. 

			
	Rules and Regulations		343 Oyster/CytomX - Page 2

  

 13. All moveable trash receptacles provided by the trash disposal firm for the Premises must
be kept in the trash enclosure areas, if any, provided for that purpose. 
 14. No auction, public or private, will be permitted on the
Premises or the Project. 
 15. No awnings shall be placed over the windows in the Premises except with the prior written consent of
Landlord. 
 16. The Premises shall not be used for lodging, sleeping or cooking or for any immoral or illegal purposes or for any purpose
other than that specified in the Lease. No gaming devices shall be operated in the Premises. 
 17. Tenant shall ascertain from Landlord the
maximum amount of electrical current which can safely be used in the Premises, taking into account the capacity of the electrical wiring in the Project and the Premises and the needs of other tenants, and shall not use more than such safe capacity.
Landlord’s consent to the installation of electric equipment shall not relieve Tenant from the obligation not to use more electricity than such safe capacity. 

18. Tenant assumes full responsibility for protecting the Premises from theft, robbery and pilferage. 

19. Tenant shall not install or operate on the Premises any machinery or mechanical devices of a nature not directly related to Tenant’s
ordinary use of the Premises and shall keep all such machinery free of vibration, noise and air waves which may be transmitted beyond the Premises.EX-10.21

 Exhibit 10.21 

MASTER LOAN AND SECURITY AGREEMENT 

No. CYTOY 
 Dated as of
December 20, 2013 
 THIS AGREEMENT (this “Agreement”) is between ATEL VENTURES, INC. (together with its
successors and assigns, if any, “Lender”) and CYTOMX THERAPEUTICS, INC., (“Borrower”). Lender has an office at 600 Montgomery Street, 9th Floor, San Francisco, CA
94111. Borrower is a corporation organized and existing under the laws of the state of Delaware. Borrower’s mailing address and principal place of business is 343 Oyster Point Boulevard, Suite 100, South San Francisco, CA 94080. 

1. CREATION OF SECURITY INTEREST; ADVANCE OF LOAN AND OTHER INVESTMENT MATTERS. 

(a) Security Interest. Borrower grants to Lender, its successors and assigns, a security interest in and against the Collateral (as that
term is defined herein) (“Lender’s Lien”). This security interest is given to secure the payment and performance of all debts, obligations and liabilities of any kind whatsoever of Borrower to Lender, now existing or arising in
the future, including but not limited to the payment and performance of certain Loan Schedules from time to time executed by Borrower substantially in the form set forth in Schedule C (collectively “Loan Schedules” and each a
“Loan Schedule”), and any renewals, extensions and modifications of such debts, obligations and liabilities (such Loan Schedules, debts, obligations and liabilities are called the “Indebtedness”). Any reference
herein to a “Loan” shall mean any Loan Schedule, as it incorporates by reference all the terms and conditions of this Agreement and any riders, exhibits or addendum thereto. Lender shall retain Lender’s Lien on all Loans until
Borrower has performed all obligations and paid in full all amounts due under all Loans (other than any unasserted claims for indemnification or expense reimbursement). 

(b) Advance of Loan. At Borrower’s written request pursuant to a Request for Advance in the form set forth in Schedule D,
Lender will advance Borrower an amount, (the “Advance”), in an aggregate amount not to exceed $3,000,000 for use by Borrower as general working capital, (the “Working Capital Line”). Lender’s obligation to make
the Advance under the Working Capital Line will be at its sole discretion and in any event, will be subject to the following conditions precedent (i) through (viii): (i) Lender and Borrower shall have entered into mutually acceptable Loan
documentation, along with such other ancillary documents and instruments as may be reasonably required by Lender in connection with the Advance under the Working Capital Line, including corporate resolutions and incumbency certificates, or other
documents evidencing the Borrower’s authority to execute and deliver the Loan (substantially in the form set forth in Schedule E or other form reasonably acceptable to Lender), evidence of insurance pursuant to “Accord”
certificates (pursuant to the request set forth in Schedule F), appropriate waivers or agreements (each a “Waiver”) from all Collateral lien-holders and entities in control of the real property on which Collateral with a fair
market value in excess of $50,000 is located including landlords and co-location facilities, but excluding entities and facilities performing Borrower’s drug trials and to which raw materials and goods are shipped, until products produced by
such entities and facilities can be classified as “inventory” under generally accepted accounting principles (“GAAP”) and the Uniform Commercial Code as from time to time in effect in the State of California (the
“UCC”) (substantially in the form set forth in Schedule H and Schedule I, respectively, or other form reasonably acceptable to Lender), provided, however, with respect to each Waiver, Borrower shall have sixty
(60) days after the effective date of this Agreement to obtain and deliver the appropriate Waiver from its landlord, and Borrower and Lender agree if the required Waiver is either missing or does not include language reasonably satisfactory to
Lender which provides to Lender an independent means of access to the Collateral, Borrower shall pay to Lender, as additional security, cash in an amount equal to one month’s Basic Loan Payment (“Additional Security”), which
deposit will be applied to the next Basic Loan Payment due after the required Waiver is provided and if the required Waiver is not provided, Lender shall apply the 

  
 1 

 
Additional Security to Borrower’s last Basic Loan Payment if no Event of Default has occurred; (ii) Borrower shall have requested an Advance on personal property that will become
Collateral to be placed under a Loan by executing a Request for Advance, and a list of Borrower’s major equipment collateral by make, model, serial number, purchase price, purchase date and location, provided, however, Borrower agrees that this
list is not intended in any way to limit Lender’s Lien only to items of equipment Collateral so listed; (iii) Borrower shall have authorized Lender to file UCC-1 financing Statements; (iv) Borrower shall have executed and delivered to
Lender a Loan Schedule for the aggregate principal amount of such Advance; (v) Borrower shall have full legal right, title, and interest in and to the Collateral, free and clear of all liens, claims, and encumbrances, whatsoever, other than
Permitted Liens; (vi) all representations and warranties of Borrower contained in Section 2 of this Agreement are true and correct in all material respects as of the date the Loan is advanced except for any representations and warranties
that expressly refer to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date; (vii) there shall not exist under the Loan any Event of Default, or
any condition, event, or act which with notice or lapse of time would become an Event of Default; and (viii) there has not been, in Lender’s opinion, any material adverse change or event since the date of the Proposal Letter dated
August 1, 2013 (“Proposal Letter”), with respect to the Advance, which, in the judgment of Lender, would impair the ability of Borrower to perform its obligations hereunder. Lender agrees that in the event Lender at its
discretion opts not to make an Advance under this Agreement after an Advance is requested by Borrower and all conditions precedent set forth in this Section 1(b) have been met by Borrower, the Warrant, which shall initially be based upon the
Working Capital Line of $3,000,000, shall be automatically reduced by the number of shares which equate to the proportion of the amount of the Working Capital Line not funded by Lender. Lender shall provide a certificate of adjustment indicating the
adjustment to the Warrant at such time within ten (10) days of the request of Borrower. Borrower agrees, however, that the Warrant shall not be so reduced in the event Lender is ready, willing and able to make Advances to Borrower under this
Agreement but Borrower chooses not to request the Advances. In the event the Warrant has been net exercised when any reduction in shares occurs, Lender shall forfeit and return to Borrower that number of shares which equate to the proportion of the
Working Capital Line not funded by Lender at its discretion. To the extent Lender has purchased the Warrant shares at the exercise price for cash when any reduction in shares occurs, Borrower shall have the right to repurchase from Lender in cash at
the exercise price paid by Lender that number of shares which equate to the proportion of the Working Capital Line not funded by Lender at its discretion. 

(c) Loan Payment. A daily loan payment (“Daily Loan Payment”) shall accrue from the Advance Date multiplied by the
number of days from (and including) the Advance Date to (but not including) the Commencement Date and shall be due and payable on the Commencement Date. The Basic Loan Payment payable hereunder during the Basic Loan Term is as set forth in the Loan
Schedule. Lender and Borrower agree that the Basic Loan Payment described in the Loan Schedule has a corresponding yield relationship to the U.S. Treasury obligation with the closest equivalent maturity as the applicable Basic Loan Term
(“Index Instrument”), as reported in The Wall Street Journal Online on the date of, and quoted in, Lender’s Proposal Letter, and consequently, the Basic Loan Payment, Loan Rate Factor, and Balance Due Values Table may be
adjusted upward to provide for any increase in the reported yield of the Index Instrument over 0.845%, and downward to provide for a decrease in the yield of the Index Instrument, provided such adjustment shall never be based on a yield that is less
than 0.845% by the Lender on the date of preparation of the Loan Schedule, or alternatively, on the funding date by a Notification of Loan Payment Adjustment amendment prepared thereafter, to reflect a change on such date in the reported yield of
the U.S. Treasury obligation, with the equivalent term of the U.S. Treasury obligation quoted in the Proposal Letter (or the closest term to such original U.S. Treasury obligation in the event an identical term issue is not reported, and in the
event that two or more comparison Treasury obligations are quoted with identical maturities, then with the “Asked” price which is closest to par) in order to preserve Lender’s anticipated corresponding yield relationship. Except as
may otherwise be provided in any Loan Schedule, Basic Loan Payment shall begin to accrue on the Commencement Date and shall be due and payable by Borrower on the first day of each period (advance) or

  
 2 

 
the last day (arrears) of each period, as set forth in the applicable Loan Schedule. In addition to the Basic Loan Payment Borrower shall pay Daily Loan Payment due as indicated in this Loan
Agreement, or on any Loan Schedule, or any Rider hereto or thereto. All Loan Payments due by Borrower hereunder are absolute and unconditional obligations of Borrower which may not be abated or offset for any reason whatsoever. 

(d) Stock Warrant. Concurrently with execution of this Agreement by the parties, Borrower will issue to Lender a Series B Preferred
warrant based on four and three quarters percent (4.75%) of the Working Capital Line, exercisable for $142,500 worth of shares of Borrower’s Series B Preferred Stock at an exercise price of $0.048961 per share (the
“Warrant”). Borrower and Lender hereby acknowledge and agree that the Warrant to purchase stock transferred to Lender is part of an investment unit within the meaning of Section 1273(c)(2) of the Internal Revenue Code which
includes the Loans entered into hereunder. Borrower and Lender further agree as between Borrower and Lender, that the fair market value of the Warrant is equal to US$100 and that, pursuant to Treas. Reg. § 1.1273-2(h), US$100 of the issue price
of the investment unit will be allocable to the Warrant and the balance shall be allocable to the Loans. Borrower and Lender agree to prepare their federal income tax returns in a manner consistent with the foregoing agreement and, pursuant to
Treas. Reg. § 1.1273, the original issue discount on the Loans shall be considered to be zero. 
 (e) Investment Right. If Lender
advances a Loan under the Working Capital Line to Borrower, then Borrower agrees that Lender will have the right (but not the obligation) to invest up to $500,000.00 in cash in a private equity round, in which Borrower will issue equity securities
ranking senior to Series B-1 preferred stock, par value $0.00001 per share, of Borrower (such senior equity securities, the “Senior Securities” and such private equity round, the “Qualified Financing Round”), to purchase
the same Senior Securities at the same purchase price per Senior Security paid in cash by the other investors participating therein (the “Purchase Price”), and, to the extent Lender does not invest the full $500,000.00 in one such
Qualified Financing Round, Lender shall have the right to invest any balance remaining in Borrower’s subsequent Qualified Financing Rounds at the same Purchase Price offered to investors in such subsequent Qualified Financing Rounds. The Lender
may exercise the foregoing investment right by (i) delivering written notice thereof to the Company no less than five (5) days prior to the investment, and (ii) within one (1) day (or such other period of time as may be mutually
agreed by the parties) after Lender has provided notice of its intent to invest in the equity round, providing Borrower with funds for the Lender’s investment and executed copies of all stock purchase agreements, voting agreements, investor
rights agreements and other documents entered into by other investors participating in the equity round. The investment right of Lender under this Section 1(e) shall not apply to the issuance by Borrower of any Exempted Securities (as defined
in Borrower’s Amended and Restated Certificate of Incorporation, as amended from time to time (the “Restated Certificate”)) and shall terminate and be of no further force or effect immediately prior to (i) the consummation
of an initial public offering of capital stock of Borrower, (ii) the date that the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Securities Exchange Act of 1934, as amended, or
(iii) the Deemed Liquidation Event (as defined in the Restated Certificate) of Borrower, whichever occurs first. 
 (f) Prepayment
Option. So long as no Event of Default shall exist and be continuing, Borrower may elect to terminate any outstanding Loan in whole or in part by paying to Lender in immediately available funds the Balance Due Value set forth in the applicable
Loan Schedule for the payment period immediately preceding the date of prepayment, and any outstanding fees, taxes, costs or other reimbursements owing to Lender (the “Prepayment Option”). In the event Borrower elects to exercise
its Prepayment Option, Borrower shall give Lender at least five (5) days prior written notice of the proposed prepayment date and such prepayment shall be made as of the regularly scheduled Basic Loan Payment date. Upon receipt by Lender of all
amounts due under the Loan (other than any unasserted claims for indemnification or expense reimbursement), Lender shall, at Borrower’s cost and expense, execute such further documents and take such further actions as may be necessary to affect
the release of its security interest in the Collateral under the 

  
 3 

 
terminated Loan Schedule, including duly executing and delivering UCC termination statements for filing in any relevant jurisdictions. Nothing in this paragraph is intended to extinguish
Lender’s Warrant or Lender’s right to indemnifications which by their nature survive the termination of the Loan. 
 2. REPRESENTATIONS AND
WARRANTIES OF BORROWER. 
 Borrower represents and warrants as of the date of this Agreement and as of the date of the Advance date of
any Loan Schedule that: 
  

	 	(a)	Due Organization. Borrower’s exact legal name is as set forth in the preamble of this Agreement and Borrower is duly organized, existing and in good standing under the laws of the State set forth in the
preamble of this Agreement, has its chief executive offices at the location specified in the preamble or such other location specified to Lender in writing, and, except as would not have a material adverse effect on Borrower or its business, is duly
qualified and licensed in every jurisdiction wherever necessary to carry on its business and operations. 

  

	 	(b)	Power and Capacity to Enter Into and Perform Obligations. Borrower has adequate power and capacity to enter into, and to perform its obligations under this Agreement, each Loan Schedule and any other documents
evidencing, or given in connection with, any of the Indebtedness including the Warrant, (all of the foregoing are called the “Debt Documents”). 

  

	 	(c)	Due Authorization. This Agreement and the other Debt Documents have been duly authorized, executed and delivered by Borrower and constitute legal, valid and binding agreements enforceable in accordance with their
terms, except to the extent that the enforcement of remedies may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general principles of
equity (whether enforcement is sought by proceedings in equity or at law). 

  

	 	(d)	Approvals and Consents. No approval, consent or withholding of objections is required from any governmental authority or instrumentality with respect to the entry into, or performance by Borrower of any of the
Debt Documents, except any already obtained. 

  

	 	(e)	No Violations or Defaults. The entry into, and performance by, Borrower of the Debt Documents will not (i) violate any of the organizational documents of Borrower or any judgment, order, law or regulation
applicable to Borrower, or (ii) except for any breach or default that would not have a material adverse effect on Borrower or its business, result in any breach of or constitute a default under any contract to which Borrower is a party, or
result in the creation of any lien, claim or encumbrance on any of Borrower’s property (except for liens in favor of Lender) pursuant to any indenture, mortgage, deed of trust, bank loan, credit agreement, or other agreement or instrument to
which Borrower is a party. 

  

	 	(f)	Litigation. There are no suits or proceedings pending in court or before any commission, board or other administrative agency against or affecting Borrower which if determined adversely to Borrower would, in the
aggregate, have a material adverse effect on Borrower, its business or operations, or its ability to perform its obligations under the Debt Documents, nor does Borrower know that any such suits or proceedings are threatened. 

 

	 	(g)	Solvency. The fair salable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; the Borrower is not left with unreasonably small capital after
the transactions in this Agreement or any Loan Schedule and Borrower is able to pay its debts (including trade debts) as they mature. 

  
 4 

	 	(h)	Financial Statements Prepared In Accordance with GAAP. All financial statements delivered to Lender in connection with the Indebtedness have been prepared in accordance with generally accepted accounting
principles (except that the monthly, quarterly and other unaudited financial statements do not contain notes thereto or account for normal year-end audit adjustments), and since the date of the most recent financial statement, there has been no
material adverse change in Borrower’s financial condition. 

  

	 	(i)	Use of Collateral. The Collateral is not used by Borrower for personal, family or household purposes. 

  

	 	(j)	Collateral in Good Condition and Repair. The Collateral is in good condition and repair and Borrower will not be negligent in its care and use. 

 

	 	(k)	Ownership of Collateral. Borrower is the sole and lawful owner and is in possession of, the Collateral, and has the sole right and lawful authority to grant the security interest described in this Agreement. The
Collateral is and shall remain personal property, and not part of any real estate or, except as expressly permitted in this Agreement or any other Debt Document, Borrower shall have obtained from all applicable real property interest holders
appropriate Waivers and releases as reasonably requested by Lender. 

  

	 	(l)	Receivables. As to each and every Receivable, (a) it is a bona fide existing obligation, valid and enforceable against the Account Debtor for a sum certain for sales of goods shipped or delivered, or goods
leased, or services rendered in the ordinary course of business; (b) all supporting documents, instruments, chattel paper and other evidence of indebtedness, if any, requested by and delivered to the Lender are complete and correct in all
material respects and valid and enforceable in accordance with their terms, and all signatures and endorsements that appear thereon are genuine, and all signatories and endorsers have full capacity to contract; (c) to the best of the
Borrower’s knowledge, the Account Debtor is liable for and will make payment of the amount expressed in such Receivable according to its terms; (d) it will be subject to no discount, deduction, setoff, counterclaim, return, allowance or
special terms of payment other than in the ordinary course of business without the prior approval of the Lender; (e) it is subject to no dispute, defense or offset, real or claimed; (f) it is not subject to any prohibition or limitation
upon assignment; (g) it has not been redated or reissued in satisfaction of prior Receivables; and (h) the Borrower has full right and power to grant the Lender a security interest therein and the security interest granted in such
Receivable to the Lender in this Agreement, when perfected, will be a valid first security interest (subject to Permitted Liens) which will inure to the benefit of the Lender without further action. The warranties set out herein shall be deemed to
have been made with respect to each and every Receivable now owned or hereafter acquired by the Borrower. 

  

	 	(m)	Encumbrances. The Collateral is free and clear of all liens, claims and encumbrances of any kind whatsoever, except for Permitted Liens. 

 

	 	(n)	Taxes. All federal, state and local tax returns required to be filed by Borrower have been filed with the appropriate governmental agencies and all material taxes due and payable by Borrower have been timely
paid, except as are being contested in good faith and by appropriate proceedings and for which adequate reserves have been established. 

  
 5 

	 	(o)	No Defaults. No event or condition exists under any material agreement, instrument or document to which Borrower is a party or may be subject, or by which Borrower or any of its properties are bound, which
constitutes a default or an event of default thereunder, or will, with the giving of notice, passage of time, or both, would constitute a default or event of default thereunder. 

 

	 	(p)	No Significant Event or Change. There has been no significant event affecting or change in Borrower’s financial condition, business operations, prospects, properties, product development, technology, or
business or contractual relations with third parties which would impair the ability of Borrower to perform its obligations hereunder or under any other financing agreement exceeding $100,000 to which it is a party or of Lender to enforce the
Indebtedness or realize upon the Collateral. 

  

	 	(q)	Omissions. Borrower has not omitted to state in any written statement furnished to Lender, any material fact which would make any of the representations and warranties set forth herein false or misleading in any
material respect in light of the circumstances under which made. 

  

	 	(r)	Primary Account and Wire Transfer Instructions. Borrower maintains its Primary Account (the “Primary Operating Account”) at the following bank and the Wire Transfer Instructions for the Primary
Operating Account are as follows: 

 Bank name: 

Acct number: 
 ABA No: 

Acct name: 
 In addition to the
Primary Operating Account identified hereinabove, Borrower maintains the following other deposit and investment accounts: 
 Bank Name: 

Acct number: 
 Acct Name: 

Investment account: 
 Bank Name:

 Acct number: 
 Acct name:

 Borrower has no other deposit or investment accounts other than the ones described here above, or of which Borrower has given Lender
notice and, except as otherwise permitted under this Agreement or any other Debt Document, taken such actions as are necessary to give Lender a perfected security interest therein. 

3. AFFIRMATIVE COVENANTS 
 The Borrower
covenants and agrees that, so long as any Loans (other than any un-asserted claims for indemnification or expense reimbursement) remain outstanding, or unless the Lender shall otherwise consent in writing: 

  
 6 

	 	(a)	Ownership and Possession of Collateral. Borrower shall remain the sole and lawful owner of the Collateral and in possession of the Collateral, except as otherwise permitted in this Agreement and the other Debt
Documents; except that Lender shall have the right to possess (i) any chattel paper or instrument that constitutes a part of the Collateral, and (ii) any other Collateral in which Lender’s security interest may be perfected only by
possession. Promptly, upon request by the Lender, Borrower shall deliver, assign, and endorse to the Lender all chattel paper and all other documents held by the Borrower in connection therewith. The Collateral is and shall remain personal property,
and not part of any real estate or, except as expressly permitted in this Agreement and the other Debt Documents, Borrower shall have obtained from all applicable real property interest holders appropriate Waivers and releases as reasonably
requested by Lender. 

  

	 	(b)	Maintenance of Collateral. Borrower shall (i) use the Collateral only in its trade or business, (ii) maintain all of the Collateral consisting of Equipment in good operating order and repair, normal
wear and tear excepted, (iii) use and maintain the Collateral consisting of Equipment only in compliance with manufacturers’ recommendations and all applicable laws, and (iv) keep all of the Collateral free and clear of all liens,
claims and encumbrances (except for Permitted Liens). 

  

	 	(c)	Taxes. Borrower shall pay promptly when due all taxes, license fees, assessments and public and private charges levied or assessed on any of the Collateral, on its use, or on this Agreement or any of the other
Debt Documents (other than income taxes of Lender), except as are being contested in good faith and by appropriate proceedings and for which adequate reserves have been established. At its option, Lender may discharge taxes, liens, security
interests or other encumbrances at any time levied or placed on the Collateral and may pay for the maintenance, insurance and preservation of the Collateral and effect compliance with the terms of this Agreement or any of the other Debt Documents.
Borrower agrees to reimburse Lender, on demand, all costs and expenses incurred by Lender in connection with such payment or performance and agrees that such reimbursement obligation shall constitute Indebtedness. Borrower agrees to file all
required property tax returns and reports concerning the Collateral with all appropriate governmental agencies, and, within not more than thirty (30) days after such filing, to send confirmation of and copies of such filings to Lender. Borrower
shall provide, on an annual basis, a copy of its property tax report lists to Lender and hereby certifies that all Collateral subject to property tax has been reported to the proper taxing jurisdiction. 

 

	 	(d)	Books and Records; Audit of Collateral. Borrower shall, at all times, keep accurate and complete records of the Collateral, and Lender shall have the right to inspect and make copies of all of Borrower’s
books and records relating to the Collateral during normal business hours, after giving Borrower reasonable prior notice. Upon forty-eight (48) hours’ advance notice, Borrower shall allow Lender to audit the Collateral at Borrower’s
expense. Such audits will be conducted no more often than once every year unless an Event of Default has occurred and is continuing. 

  

	 	(e)	Third Party Possession of Collateral. Borrower agrees and acknowledges that any third person who may at any time possess all or any portion of the Collateral shall be deemed to hold, and shall hold, the
Collateral as the agent of, and as pledge holder for, Lender. Upon the occurrence and during the continuation of any Event of Default, Lender may at any time give notice to any third person described in the preceding sentence that such third person
is holding the Collateral as the agent of, and as pledge holder for, the Lender. The Equipment Collateral may be temporarily relocated to third parties for repairs and maintenance in the ordinary course of business not to exceed 90 days which new
location(s) shall be provided to Lender for Collateral valued at more than $50,000 in the aggregate. 

  
 7 

	 	(f)	Bailees. If any Inventory is stored with a bailee, warehouseman, or similar party, the Borrower will cause any such bailee, warehouseman, or similar party to issue and deliver to the Lender, in a form reasonably
acceptable to the Lender, warehouse receipts in the Lender’s name evidencing the storage of the Inventory and Waiver in form substantially similar to the form set forth in Schedule J hereto or such other form as may be reasonably
acceptable to the Lender. All such warehouse receipts do and will evidence ownership of the Inventory stored by the issuers thereof, and the holder thereof is and will continue to be the owner of good and marketable title of same, free and clear of
any Liens or encumbrances. All such warehouse receipts are and will be genuine, valid and enforceable by the holder thereof in accordance with their terms and all statements thereon are and will be true and accurate in all respects. None of the
Collateral shall be placed by the Borrower on consignment with any person or entity. 

  

	 	(g)	Change of Address. All of the Collateral is located in and will in the future be in the possession of the Borrower at its address stated above or at such other addresses as set forth on the attached Schedule
A or otherwise provided to Lender in writing. The Lender shall be entitled to rely upon the foregoing unless it receives 14 days’ advance written notice of a change in the address of the Borrower’s executive offices or location of the
Collateral. 

  

	 	(h)	Fixtures. Borrower will not permit any item of the Equipment to become a fixture to real estate or an accession to other property without the prior written consent of the Lender, and the Equipment is now and
shall at all times remain personal property except with the Lender’s prior written consent. 

  

	 	(i)	Claims and Disputes. Immediately upon learning thereof, Borrower shall report to the Lender any reclamation, return or repossession of goods, any claim or dispute asserted by any Account Debtor or other obligor,
and any other matter affecting the value and enforceability or collectability of any of the Collateral with an aggregate fair market value in excess of $50,000. In addition, the Borrower shall, at its sole cost and expense (including attorneys’
fees), settle any and all such claims and disputes and indemnify and protect the Lender against any liability, loss or expense arising therefrom or out of any such reclamation, return or repossession of goods, provided, however, that the Lender, if
it shall so elect after the occurrence of an Event of Default, shall have the right at all times to settle, compromise, adjust or litigate all claims or disputes directly with the Account Debtor or other obligor upon such terms and conditions as the
Lender deems advisable and charge all costs and expenses thereof (including attorneys’ fees) to the Borrower’s account and add them to the principal amount of the Indebtedness. 

 

	 	(j)	Use of Collateral and Loan Proceeds. The Collateral will not be used by Borrower for personal, family or household purposes. Borrower agrees that it shall use the Loan proceeds for general working capital
purposes. 

  

	 	(k)	Domain Name. Borrower shall take the necessary or appropriate steps to ensure that the identity and location of the servers used in connection with the Borrower’s website and Borrowers domain name and the
identity of the party having control over the domain name server and of the administrative contact with the registry have been disclosed to the Lender. The Borrower shall not change the domain name server without notification to the Lender. The
Borrower shall maintain the trademark of the domain name by defending against any infringement suits and by policing the trademark. The Borrower shall renew the domain name registration and make all payment to the domain name registrar necessary to
maintain the domain name during the time that any Indebtedness is outstanding. 

  

	 	(l)	 Account Control Agreements. Borrower shall at all times maintain all Cash Equivalents owned by Borrower on deposit in a Deposit Account or
securities accounts in Borrower’s name with the institutions identified in Section 2(u) or at one or more other institutions disclosed to Lender (each, 

  
 8 

	 	
a “Third Party Institution”) and which accounts are covered by an account control agreement in favor of Lender (the terms of which shall be reasonably acceptable to Lender). At
any time that the Cash Equivalents or any portion thereof are held in an account or accounts in one or more Third Party Institutions, the related account control agreement shall provide that, upon request, Lender is to receive a copy of the account
statements delivered to Borrower. With respect to each such account, Borrower, Lender, and each Third Party Institution shall enter into a written agreement, granting Lender control of such account and providing that the Third Party Institution will
comply with instructions originated by the Lender directing disposition of the funds in such account without further consent by Borrower. Such account control agreement may in accordance with the provisions thereof provide terms under which Borrower
may remove funds from such account prior to Lender’s exercise of control; provided all funds in or transferred into such account on or after the effectiveness of this Agreement shall be subject to the security interest granted under this
Agreement. Notwithstanding anything in this Agreement or any other Debt Document to the contrary, in no event shall Borrower be required to deliver a control agreement over (i) any payroll and payroll taxes account, workers’ compensation
account or other employee wage or benefit payment account the proceeds of which are used solely to fund such purposes and (ii) any other deposit account or investment accounts, so long as the aggregate amount on deposit in (or credited to) all
such accounts excluded pursuant to this clause (ii) does not exceed $100,000 at any time. 

  

	 	(m)	Intellectual Property Rights. Borrower will (i) use commercially reasonable efforts to protect, defend and maintain the validity and enforceability of the Intellectual Property and promptly advise Lender in
writing of material infringements, and (ii) not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public without Lender’s written consent. 

 

	 	(n)	Notice of Significant Event or Change. Borrower shall give the Lender prompt written notice of any significant event, occurrence or other matter which has resulted or may result in a material adverse change in
its financial condition, business operations, prospects, product development, technology, or business or contractual relations with third parties of Borrower which would impair the ability of Borrower to perform its obligations hereunder or under
any of the other financing agreements to which it is a party or of Lender to enforce the Indebtedness or realize upon the Collateral. 

  

	 	(o)	Late Charges. If any Basic Loan Payment or other amount due under any Loan Schedule or this Agreement is not received when due, then upon receipt of notice of the outstanding sum, Borrower agrees to pay, in
addition to the amount of each such payment, a late payment charge of one and one half percent (1.5%) of the amount of said Basic Loan Payment or other amount, but not exceeding any lawful maximum, provided however, if Borrower’s first
Basic Loan Payment due hereunder is late due to Lender failing to timely debit the Basic Loan Payment by electronic means pursuant to Section 9(k), Borrower shall not owe a late charge in such event. 

 

	 	(p)	Solvency. The fair salable value of Borrower’s assets (including goodwill minus disposition costs) will at all times exceed the fair value of its liabilities. 

4. NEGATIVE COVENANTS. 
 The Borrower
covenants and agrees that, so long as any Loans (other than any unasserted claims for indemnification or expense reimbursement) remain outstanding, or unless the Lender shall otherwise consent in writing: 

  
 9 

	 	(a)	Distributions. Borrower shall not (i) pay any dividends or make any distributions on its equity securities; (ii) purchase, redeem, retire, defease or otherwise acquire for value any of its equity
securities (other than repurchases pursuant to the terms of employee stock purchase plans, employee restricted stock agreements or similar arrangements in an aggregate not to exceed $500,000 in any fiscal year of Borrower); (iii) return any
capital to any holder of its equity securities as such; (iv) make any distribution of assets, equity securities, obligations or securities to any holder of its equity securities as such; or (v) set apart any sum for any such purpose;
provided, however, Borrower may pay dividends payable solely in common stock. 

  

	 	(b)	Subordinated Indebtedness Payments. Borrower shall not (i) prepay, redeem, purchase, defease or otherwise satisfy in any manner prior to the scheduled repayment thereof any Subordinated Indebtedness for
borrowed money or lease obligations, (ii) amend, modify or otherwise change the terms of any Subordinated Indebtedness for borrowed money or lease obligations so as to accelerate the scheduled repayment thereof or (iii) repay any notes to
officers, directors or shareholders except as expressly provided for in a duly executed subordination agreement in favor of, and approved by Lender. 

  

	 	(c)	Additional Indebtedness. Borrower shall not create, incur, assume or permit to exist any Additional Indebtedness except Permitted Indebtedness. 

 

	 	(d)	Investments. Borrower shall not make any Investment except for Permitted Investments. 

  

	 	(e)	Negative Pledge Regarding Intellectual Property. Borrower shall not sell, transfer, assign, mortgage, pledge, lease, grant a security interest in, or encumber any of its Intellectual Property, or enter into any
agreement, document, instrument or other arrangement (except with or in favor of Lender) with any entity which directly or indirectly prohibits or has the effect of prohibiting Borrower from selling, transferring, assigning, mortgaging, pledging,
leasing, granting a security interest in or upon, or encumbering any of Borrower’s Intellectual Property; provided, however, that Borrower may grant exclusive and non-exclusive licenses with respect to components of
Borrower’s Intellectual Property in connection with joint ventures and corporate collaborations in the ordinary course of Borrower’s business and Borrower acknowledges that it has granted to Lender a lien in all licensing or royalty
revenue with respect thereto. If Borrower at any time violates its agreement set forth in this Section 4(e), Lender is hereby automatically granted by Borrower a concurrent security interest in Borrower’s Intellectual Property.

  

	 	(f)	Transactions with Affiliates. Borrower shall not, without the prior written consent of Lender, directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower except
for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a nonaffiliated Person.

  

	 	(g)	Change in Management. Borrower shall not, without providing prompt written notice to Lender, change the persons holding the offices of Chief Executive Officer or Chief Financial Officer. In the event of the
resignation of the Chief Executive Officer or Chief Financial Officer, Borrower agrees to identify a suitable replacement for such individual or individuals within ninety (90) calendar days, and any such individual or individuals so identified
shall be approved by Borrower’s Board of Directors. 

  
 10 

	 	(h)	Disposition of Collateral. Without the prior written consent of Lender, Borrower shall not (i) remove any of the Collateral from the continental United States except raw materials and goods used in
Borrower’s drug tests which are shipped to foreign entities and facilities, or (ii) sell, rent, lease, mortgage, license, grant a security interest in or otherwise transfer or encumber any of the Collateral, except for (a) Permitted
Liens, (b) sales of Inventory in the ordinary course of business, (c) Permitted Investments, (d) sales, assignments, transfers and other dispositions of accounts receivable in connection with the compromise, settlement or collection
thereof consistent in the ordinary course of business and not for purposes of financing, (e) leases or subleases entered into in the ordinary course of business, to the extent that they do not materially interfere with the business of Borrower,
(f) dispositions resulting from any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any property or asset of Borrower and (g) transfers of worn out or obsolete
equipment Collateral and (iii) Borrower shall provide to Lender in conjunction with the list of fixed assets required pursuant to Section 6(e) of this Agreement, information regarding any transfers of any items of worn out or obsolete
equipment Collateral valued in excess of $20,000. 

  

	 	(i)	Change in Control. EXCEPT FOR PERMITTED TRANSACTIONS, BORROWER SHALL NOT SELL, CONVEY, TRANSFER, PART WITH POSSESSION, OR ASSIGN OR OTHERWISE ENCUMBER THIS LOAN OR ANY OF THE COLLATERAL OR ANY OF ITS RIGHTS
HEREUNDER OR SUBLEASE THE EQUIPMENT COLLATERAL, OR SUFFER A CHANGE IN CONTROL, WITHOUT THE PRIOR WRITTEN CONSENT OF LENDER (SAID CONSENT NOT TO BE UNREASONABLY WITHHELD). EXCEPT AS PERMITTED HEREIN, ANY SUCH PURPORTED TRANSACTION SHALL BE NULL AND
VOID AND OF NO FORCE AND EFFECT. An affiliate that is a subsidiary may merge or consolidate into another subsidiary or into Borrower. 

For purposes of this Loan, “Permitted Transaction” shall mean (i) Permitted Liens; (ii) dispositions of Collateral made
concurrently with the exercise of Borrower’s Prepayment Option with respect to Equipment Collateral in accordance with the immediately succeeding paragraph; (iii) any Change in Control in which the surviving entity after such Change in
Control has a tangible net worth equal to or greater than that of the Borrower as of the date of the Change in Control, which shall be based on pro forma financial statements utilizing, in Lender’s reasonable opinion, reasonable assumptions in
the preparation thereof by Borrower and provided by Borrower to Lender at least five (5) Business Days before such Change in Control, and the financial condition of such entity will enable it, in Lender’s reasonable opinion, based on said
financial statements, to meet all obligations to Borrower’s creditors, including its obligations under the Loan, as they become due for the remaining term of the Loan; and (iv) each other transaction expressly permitted under this
Agreement and the other Debt Documents. No permitted assignment or sublease shall relieve Borrower of any of its obligations hereunder without the express written consent of Lender. 

Prepayment Requirement. In the event Lender in good faith does not give prior written consent to any event set forth in this
Section 4(i), and such event does not constitute a Permitted Transaction, Borrower shall prepay in full the Loan Schedule entered into under this Agreement affected by such event by paying to Lender the Balance Due Value as of the Basic Loan
Payment date immediately preceding the consummation of any event described in this Section 4(i) plus any other amounts outstanding and owed to Lender under such Loan Schedule. Upon receipt by Lender of all amounts due under the applicable Loan
Schedule (other than any unasserted claims for indemnification or expense reimbursement), Lender shall, at Borrower’s sole cost and expense, execute such further documents and take such further actions as may be necessary to affect the release
of its security interests in the applicable Collateral, including duly executing and delivering UCC termination statements for filing in any relevant jurisdictions or terminating account control agreements. Nothing in this paragraph is intended to
extinguish Lender’s Warrant or Lender’s right to indemnifications which by their nature survive the termination of this Agreement and the Loan Schedule. 

  
 11 

 5. INSURANCE. 
  

	 	(a)	Risk of Loss. Borrower shall at all times bear the entire risk of any loss, theft, damage to, or destruction of, any of the Collateral from any cause whatsoever. 

 

	 	(b)	Insurance Requirements. Borrower agrees to maintain general liability insurance and to keep the Collateral insured against loss or damage by fire and extended coverage perils, theft, burglary, risk of loss by
collision (for any or all Collateral which are vehicles) and such other risks as Lender may reasonably require. The liability insurance coverage shall be in an amount standard for companies similar to Borrower in Borrower’s industry in
Borrower’s geographic region. The property insurance coverage shall be in an amount no less than the full replacement value of the Collateral. All insurance policies shall be in a form, with companies and with deductible amounts reasonably
acceptable to Lender. Borrower shall deliver to Lender policies or certificates of insurance evidencing such coverage. Each policy shall name Lender as a loss payee and an additional insured, shall provide for coverage to Lender regardless of the
breach by Borrower of any warranty or representation made therein, shall not be subject to co-insurance, and shall provide that coverage may not be canceled or altered by the insurer except upon thirty (30) days prior written notice to Lender.
Borrower appoints Lender as its attorney-in-fact to make proof of loss, claim for insurance and adjustments with insurers, and to receive payment of and execute or endorse all documents, checks or drafts in connection with insurance payments,
provided that Lender shall not act as Borrower’s attorney-in-fact unless Borrower is in default. If any item of Collateral is materially damaged or suffers a casualty event, Borrower shall give to Lender prompt notice thereof. Borrower shall
determine within twenty (20) days after the date on which such damage or casualty event occurs whether such item of Collateral can be repaired. If Borrower determines that such item of Collateral can be repaired with commercially reasonable
efforts, Borrower shall cause such item of Collateral to be promptly repaired. If Borrower determines that such item of Collateral cannot be repaired with commercially reasonable efforts, Borrower shall either (i) promptly replace such item of
Collateral with equipment useful in the business of Borrower of equal or greater value free and clear of all liens and encumbrances except for Permitted Liens and the Loan with respect to such Collateral shall continue in full force and effect as
though such damage or destruction has not occurred, or (ii) pay to Lender an amount equal to the Balance Due Value for the item of Collateral for the Basic Loan Payment due date immediately preceding such damage or casualty event and the
applicable Loan will terminate with respect to such item of Collateral and the Basic Loan Payment under the applicable Loan Schedule will be reduced thereafter pro rata by the original cost of the item of Collateral suffering such damage or loss.
All proceeds of insurance received by Lender, the designated loss payee or Borrower under any insurance policy shall be applied to the cost of any such repair or replacement so long as no Event of Default has occurred and is continuing at the time
such proceeds are received. 

 6. REPORTS. 
  

	 	(a)	Notice of Events. Borrower shall promptly notify Lender of (i) any change in the name of Borrower, (ii) any change in the state of its incorporation or registration, (iii) any relocation of its
chief executive offices, (iv) any material amount of Collateral being lost, stolen, missing, destroyed, materially damaged or worn out, or (v) any lien, claim or encumbrance other than Permitted Liens attaching to or being made against any
of the Collateral. 

  
 12 

	 	(b)	Financial Statements, Reports and Certificates. (i) Borrower will deliver to Lender within one hundred and twenty (120) days of the close of each fiscal year of Borrower, Borrower’s complete
unaudited financial statements including a balance sheet, income statement, statement of shareholders’ equity and statement of cash flows; provided that Borrower shall provide a copy of Borrower’s audited financial statements within 5
business days of when the same shall become available to Borrower, each prepared in accordance with generally accepted accounting principles consistently applied, certified by a recognized firm of certified public accountants reasonably satisfactory
to Lender (it being agreed that PricewaterhouseCoopers LLP or any of the other “big four” accounting firms is satisfactory to Lender). (ii) Borrower will deliver to Lender copies of Borrower’s quarterly unaudited financial
statements including a balance sheet, income statement and statement of cash flows, each prepared by Borrower in accordance with generally accepted accounting principles consistently applied (except for the absence of notes thereto and of normal
year-end audit adjustments) within sixty (60) days after the close of each of Borrower’s fiscal quarters. (iii) Borrower will deliver to Lender copies of Borrower’s monthly unaudited financial statements including a company
prepared balance sheet, income statement and cash flow statement covering Borrower’s operations during such period, within thirty (30) days after the close of each month. (iv) So long as there are amounts due Lender under this Loan,
Borrower shall supply Lender with such other financial and operating performance data as is provided to its outside investors or commercial lenders and, if applicable, required to be provided to shareholders by the Security and Exchange Commission.

  

	 	(c)	Certification of Financial Information. All reports, certificates, schedules, notices and financial information (other than any projections or other forward-looking information) submitted by Borrower to the
Lender pursuant to this Agreement shall be certified as true and correct in all material respects by the president or chief financial officer of Borrower. 

  

	 	(d)	Receivables. Upon the written request of Lender, but no more frequently than once per month unless an Event of Default has occurred and is continuing, Borrower shall deliver to the Lender schedules of all
outstanding Receivables. Such schedules shall be in form reasonably satisfactory to the Lender and shall show the age of such Receivables in intervals of not more than thirty (30) days, and contain such other information and be accompanied by
such supporting documents as the Lender may from time to time reasonably prescribe. The Borrower shall also deliver to the Lender, upon Lender’s request, no more frequently than once per month unless an Event of Default has occurred and is
continuing copies of the Borrower’s invoices, sales journals, evidences of shipment or delivery and such other schedules and information as the Lender may reasonably request. The items to be provided under this Section are to be prepared and
delivered to the Lender from time to time solely for its convenience in maintaining records of the Collateral and the Borrower’s failure to give any of such items to the Lender shall not affect, terminate, modify or otherwise limit the
Lender’s security interest granted herein. 

  

	 	(e)	Quarterly Asset List. Within forty-five (45) days after the close of each of Borrower’s fiscal quarters, at the same time as Borrower delivers to Lender its quarterly financial statements, Borrower
shall deliver to Lender a current list of all Equipment Collateral. 

 7. FURTHER ASSURANCES. 

 

	 	(a)	 Further Assurances Regarding Security Interests. Borrower shall, upon request of Lender, furnish to Lender such further information, execute
and deliver to Lender such documents and instruments (including, without limitation, Uniform Commercial Code financing statements) and shall do such other acts and things as Lender may at any time reasonably request relating to the perfection or

  
 13 

	 	
protection of the security interest created by this Agreement or for the purpose of carrying out the intent of this Agreement. To the extent Lender has filed Uniform Commercial Code Financing
Statements prior to the execution of this Agreement by Borrower, Borrower hereby ratifies and confirms the completion and filing of any Uniform Commercial Code Financing Statements by Lender occurring prior to the execution by Borrower of this
Agreement. Without limiting the foregoing, Borrower shall cooperate and do all acts reasonably deemed necessary or advisable by Lender to continue in Lender a perfected first security interest in the Collateral, and, except as expressly permitted
under this Agreement or any other Loan Document, shall obtain and furnish to Lender any subordinations, releases, landlord waivers, lessor waivers, mortgagee waivers, or control agreements, and similar documents as may be from time to time
reasonably requested by, and in form and substance reasonably satisfactory to, Lender. If Borrower shall at any time acquire a commercial tort claim, as defined in the Code, Borrower shall immediately notify Lender in writing signed by Borrower of
the brief details thereof and grant to Lender in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to Lender.

  

	 	(b)	Authorization To File Financial Statements. Except as expressly permitted under this Agreement or any other Loan Document, Borrower shall perform any and all acts reasonably requested by the Lender to establish,
maintain and continue the Lender’s security interest and liens in the Collateral, including but not limited to, executing or authenticating financing statements and such other instruments and documents when and as reasonably requested by the
Lender. Borrower hereby authorizes Lender through any of Lender’s employees, agents or attorneys to file any and all financing statements, including, without limitation, any original filings, continuations, transfers or amendments thereof
required to perfect Lender’s security interest and liens in the Collateral under the UCC without authentication or execution by Borrower. 

  

	 	(c)	Indemnification. Borrower shall indemnify and defend the Lender, its successors and assigns, and their respective directors, officers and employees (collectively, “Indemnitees”), from and against
all claims, actions and suits (including, without limitation, related attorneys’ fees) of any kind whatsoever arising, directly or indirectly, in connection with any of the Collateral or the Debt Documents; provided that notwithstanding
the foregoing, in no event shall Borrower be required to indemnify any Indemnitee for any claims, actions or suits arising from the gross negligence or willful misconduct of any Indemnitee. 

 

	 	(d)	Transaction Costs and Fees. Borrower shall pay all reasonable itemized out of pocket costs and expenses (including reasonable attorneys’ fees and expenses for Lender’s outside counsel) incurred for
(i) negotiating and preparing the Debt Documents, and, in the future for (ii) amending, negotiating, administering, defending and enforcing the Debt Documents and related documents, (including, without limitation, those incurred in
connection with appeals or insolvency proceedings) or otherwise incurred with respect to Borrower until all obligations of Borrower to Lender are paid in full. Borrower shall also pay to Lender a facility fee equal to 1% of the Working Capital Line
equal to $30,000.00. 

 8. DEFAULT AND REMEDIES. 
  

	 	(a)	Default. Borrower shall be in default under this Agreement and each of the other Debt Documents (“Event of Default”) if any one of the following shall occur: 

  
 14 

	 	(i)	Borrower breaches its obligation to pay when due any installment or other amount due or coming due under any of the Debt Documents within five (5) days after the date the same becomes due and payable;

  

	 	(ii)	Borrower, without the prior written consent of Lender, attempts to or does sell, rent, lease, license, mortgage, grant a security interest in, or otherwise transfer or encumber, or allow Liens (except for Permitted
Liens) upon, any of the Collateral, in each case, except as expressly permitted under this Agreement or any other Debt Document; 

  

	 	(iii)	Borrower breaches any of its covenants under Sections 3 and 4 and, in the case of any breach of any covenant under Section 3(b), (d), (e), (f), (g), (h), (i),or (k), Borrower fails to cure that breach within
fifteen (15) days after written notice thereof to Borrower by Lender; provided that the cure and notice requirement in the preceding sentence does not apply to Borrower’s breaches of any of its covenants under Sections 3 (a), (c), (j),
(l), (m), (n), (o) or (p) and such breach shall be an immediate Event of Default. 

  

	 	(iv)	Borrower breaches any of its insurance obligations under Section 5; 

  

	 	(v)	Borrower breaches any of its other non-payment obligations under any of the Debt Documents and fails to cure that breach within thirty (30) days after written notice thereof to Borrower by Lender;

  

	 	(vi)	Any representation, warranty or statement made by Borrower in any of the Debt Documents or otherwise in connection with any of the Indebtedness, shall be, on the date such representation or warranty was made, false or
misleading in any material respect; 

  

	 	(vii)	Borrower breaches or is in default under any other agreement between Borrower and Lender; 

  

	 	(viii)	Any of the Collateral is subjected to attachment, execution, levy, seizure or confiscation in any legal proceeding or otherwise, or if any legal or administrative proceeding is commenced against Borrower or any of the
Collateral, which in the good faith judgment of Lender subjects any of the Collateral to a material risk of attachment, execution, levy, seizure or confiscation and no bond is posted or protective order obtained to remove the risk of same;

  

	 	(ix)	Borrower, or any guarantor or other obligor for any of the Indebtedness (collectively “Guarantor”) dissolves, terminates its existence, becomes insolvent, or ceases to do business as a going concern;

  

	 	(x)	A receiver is appointed for all or of any part of the property of Borrower or any Guarantor, or Borrower or any Guarantor makes any assignment for the benefit of creditors; 

 

	 	(xi)	Borrower or any Guarantor files a petition for relief under any bankruptcy, insolvency or similar law, or any such petition is filed against Borrower or any Guarantor and is not dismissed within thirty (30) days;

  

	 	(xii)	Borrower improperly files an amendment or termination statement relating to a filed financing statement describing the Collateral; 

  

	 	(xiii)	Borrower shall become the subject matter of, or enter into any Change in Control that is not a Permitted Transaction without the prior written consent of Lender; 

  
 15 

	 	(xiv)	Borrower defaults under any other financing arrangement between Borrower and a third party resulting in acceleration of the maturity of Borrower’s obligations to such third party in an amount equal to or greater
than $250,000; 

  

	 	(xv)	If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least $250,000 shall be rendered against Borrower and shall remain unsatisfied and un-stayed for a period of ten
(10) days or more; or 

  

	 	(xvi)	Lender shall have determined in its reasonable judgment that there has been a material adverse change in Borrower’s financial condition or business operations since either the date of the Proposal Letter or the
date of the most recent financial statements delivered to Lender pursuant to Section 6(b). 

  

	 	(b)	Acceleration. If an Event of Default has occurred, Lender, at its option, may declare any or all of the Indebtedness to be immediately due and payable, without demand or notice to Borrower or any Guarantor
(provided that if there is a default as a result of a bankruptcy or insolvency all Indebtedness shall become immediately due and payable without any action by Lender) and recover from Borrower as liquidated damages for loss of a bargain and not as a
penalty, an amount equal to the Balance Due with respect to any Loan Schedule calculated as of the payment date preceding the date that the event which resulted in the Event of Default occurred which payment shall become immediately due and payable.
The accelerated obligations and liabilities shall bear interest (both before and after any judgment) until paid in full at the lower of thirteen percent (13 %) per annum or the maximum rate not prohibited by applicable law. 

 

	 	(c)	 Rights and Remedies. Upon the occurrence of an Event of Default, Lender shall have all of the rights and remedies of a Lender under the Code,
and under any other applicable law. Without limiting the foregoing, upon the occurrence of an Event of Default, Lender shall have the right to do all of the following: (i) notify any Account Debtor of Borrower or any obligor on any instrument
which constitutes part of the Collateral to make payment to the Lender, (ii) with or without legal process, enter any premises where the Collateral may be and take possession of and remove the Collateral from the premises or store it on the
premises, (iii) sell the Collateral at public or private sale, in whole or in part, and have the right to bid and purchase at said sale, (iv) to instruct the Third Party Institution maintaining any deposit account or securities account
subject to a control agreement in favor of Lender to transfer the funds in such account to any account of the Lender, or (v) lease or otherwise dispose of all or part of the Collateral, applying proceeds from such disposition to the obligations
then in default, provided, however, Borrower hereby agrees that, in any event, it will be liable for any deficiency after any lease or other disposition of the Collateral. If requested by Lender, Borrower shall promptly assemble the Collateral and
make it available to Lender at a place to be designated by Lender, which is reasonably convenient to both parties. Lender may also render any or all of the Collateral unusable at the Borrower’s premises and may dispose of such Collateral on
such premises without liability for rent or costs. Any notice that Lender is required to give to Borrower under the Uniform Commercial Code of the time and place of any public sale or the time after which any private sale or other intended
disposition of the Collateral is to be made shall be deemed to constitute reasonable notice if such notice is given to the last known address of Borrower at least ten (10) days prior to such action. Upon the occurrence and during the
continuation of an Event of Default, Borrower hereby appoints Lender as Borrower’s attorney-in-fact, with full authority in Borrower’s place and stead and in Borrower’s name or otherwise, from time to time in Lender’s sole and
arbitrary discretion, to take any action and to execute any instrument which Lender may deem necessary or advisable to accomplish the purpose 

  
 16 

	 	
of this Agreement. Lender may ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in the manner provided for herein) the Collateral. In
connection therewith, upon the occurrence and during the continuation of an Event of Default, Lender and its agents and any purchasers at or after foreclosure are hereby granted a non-exclusive, irrevocable, perpetual, fully paid, royalty-free
license or other right, solely pursuant to the provisions of this Section 8, to use, without charge, Borrower’s Intellectual Property, including without limitation, labels, patents, copyrights, rights of use of any name, trade
secrets, trade names, trademarks, service marks, and advertising matter, or any property of a similar nature, now or at any time hereafter owned or acquired by Borrower or in which Borrower now or at any time hereafter has any rights;
provided, however, such license shall only be exercisable in connection with the disposition of Collateral upon Lender’s exercise of its remedies hereunder. 

 

	 	(d)	Application of Proceeds. Proceeds from any sale or lease or other disposition shall be applied: first, to all costs of repossession, storage, and disposition including without limitation attorneys’,
appraisers’, and auctioneers’ fees; second, to discharge the obligations then in default; third, to discharge any other Indebtedness of Borrower to Lender, whether as obligor, endorser, guarantor, surety or indemnitor; fourth, to expenses
incurred in paying or settling liens and claims against the Collateral; and lastly, to Borrower or the Person legally entitled thereto, if there exists any surplus. Borrower shall remain fully liable for any deficiency. 

 

	 	(e)	Fees and Costs. Borrower agrees to pay all reasonable attorneys’ fees and other itemized out-of-pocket costs incurred by Lender in connection with the enforcement, assertion, defense or preservation of
Lender’s rights and remedies under this Agreement, or if prohibited by law, such lesser sum as may be permitted. Borrower further agrees that such fees and costs shall constitute Indebtedness. 

 

	 	(f)	Remedies Cumulative. Lender’s rights and remedies under this Agreement or otherwise arising are cumulative and may be exercised singularly or concurrently. Neither the failure nor any delay on the part of
the Lender to exercise any right, power or privilege under this Agreement shall operate as a waiver, nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise of that or any other right, power
or privilege. LENDER SHALL NOT BE DEEMED TO HAVE WAIVED ANY OF ITS RIGHTS OR REMEDIES, WHETHER HEREINBEFORE OR HEREINAFTER EXISTING, PAST OR PRESENT, UNDER THIS AGREEMENT OR UNDER ANY OTHER AGREEMENT, INSTRUMENT OR PAPER SIGNED BY BORROWER UNLESS
SUCH WAIVER IS EXPRESSED IN WRITING AND SIGNED BY LENDER. A waiver on any one occasion shall not be construed as a bar to or waiver of any right or remedy on any future occasion. 

 

	 	(g)	 WAIVER OF JURY TRIAL. TO THE EXTENT PERMITTED BY LAW, BORROWER AND LENDER UNCONDITIONALLY WAIVE THEIR RIGHTS TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT, ANY OF THE OTHER DEBT DOCUMENTS, ANY OF THE INDEBTEDNESS SECURED HEREBY, ANY DEALINGS BETWEEN BORROWER AND LENDER RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION OR ANY RELATED
TRANSACTIONS, AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED BETWEEN BORROWER AND LENDER. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT. THIS WAIVER IS IRREVOCABLE. THIS WAIVER
MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING. THE WAIVER ALSO SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS 

  
 17 

	 	
AGREEMENT, ANY OTHER DEBT DOCUMENTS, OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS TRANSACTION OR ANY RELATED TRANSACTION. THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL
BY THE COURT. 

  

	 	(h)	Mitigation. In the event that Borrower shall have paid to Lender the liquidated damages referred to in Clause 8(b) above, and Borrower shall have previously returned the Collateral to Lender in accordance with
Clause 8(c) above, then Lender shall pay to Borrower, promptly after receipt thereof, all sale or rental proceeds received from any sale or re-letting of the Collateral during the balance of the Loan term (after deduction of all un-reimbursed
damages, costs and expenses incurred by Lender as a result of the Event of Default; or other sums due Lender by Borrower under the Loan), said amount never to exceed the amount of the liquidated damages paid by Borrower. Lender shall use
commercially reasonable efforts to sell, re-lease or otherwise use or dispose of the Collateral in mitigation of damages to the extent required by law (however, Lender shall not be obligated to give preference to the sale, lease or other disposition
of the Collateral over the sale, lease or other disposition of similar equipment owned or leased by Lender). 

 9. MISCELLANEOUS. 

 

	 	(a)	Assignment. This Agreement, any Loan Schedule and/or any of the other Debt Documents may be assigned, in whole or in part, by Lender without notice to Borrower, and Borrower agrees not to assert against any such
assignee, or assignee’s assigns, any defense, set-off, recoupment claim or counterclaim which Borrower has or may at any time have against Lender for any reason whatsoever. Borrower agrees that if Borrower receives written notice of an
assignment from Lender, Borrower will pay all amounts payable under any assigned Debt Documents to such assignee or as instructed by Lender. Borrower also agrees to confirm in writing receipt of the notice of assignment as may be reasonably
requested by Lender or assignee in form substantially similar to the form set forth in Schedule G attached hereto. Notwithstanding anything in this Agreement or any other Debt Document to the contrary, Lender hereby agrees that it will not
make any assignment to a third party unless that third party is: (i) any Affiliate of Lender, or (ii) any commercial bank, savings and loan association or savings bank or any other entity which is an “accredited investor” (as
defined in Regulation D under the Securities Act of 1933, as amended) which extends credit or buys loans as one of its businesses, including insurance companies, mutual funds, lease financing companies and commercial finance companies; and
(iii) such third party is not a competitor of Borrower or an Affiliate of a competitor of Borrower as reasonably determined by Lender in its good faith business judgment, and any such assignment in violation of this Section 9(a) shall be
null and void. 

  

	 	(b)	Notices. All notices to be given in connection with this Agreement shall be in writing, shall be addressed to the parties at their respective addresses set forth in this Agreement (unless and until a different
address may be specified in a written notice to the other party), and shall be deemed given (i) on the date of receipt if delivered in hand or by facsimile or e-mail transmission, (ii) on the next business day after being sent by express
mail, and (iii) on the fourth business day after being sent by regular, registered or certified mail. As used herein, the term “business day” shall mean and include any day other than Saturdays, Sundays, or other days on which
commercial banks in San Francisco, California are required or authorized to be closed. 

  

	 	(c)	Time is of the Essence. Time is of the essence of this Agreement. This Agreement shall be binding, jointly and severally, upon all parties described as the “Borrower” and their respective heirs,
executors, representatives, successors and assigns, and shall inure to the benefit of Lender, its successors and assigns. 

  
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	 	(d)	Entire Agreement. This Agreement and the Debt Documents constitute the entire agreement between the parties with respect to the subject matter of this Agreement and supersede all prior understandings (whether
written, verbal or implied) with respect to such subject matter. THIS AGREEMENT AND THE DEBT DOCUMENTS SHALL NOT BE CHANGED OR TERMINATED ORALLY OR BY COURSE OF CONDUCT, BUT ONLY BY A WRITING SIGNED BY BOTH PARTIES. Section headings contained in
this Agreement have been included for convenience only, and shall not affect the construction or interpretation of this Agreement. 

  

	 	(e)	Termination of Agreement and Security Interests. This Agreement shall continue in full force and effect until all of the Indebtedness has been paid in full to Lender or its assignee at which time this Agreement
and all security interests granted hereby shall terminate, provided, that Borrower’s indemnity obligations set forth in Section 7(c) shall survive until all applicable statute of limitations periods with respect to actions
that may be brought against Lender have run. This Agreement shall automatically be reinstated if Lender is ever required to return or restore the payment of all or any portion of the Indebtedness (all as though such payment had never been made).

  

	 	(f)	CHOICE OF LAW. BORROWER AGREES THAT LENDER AND/OR ITS SUCCESSORS AND ASSIGNS SHALL HAVE THE OPTION BY WHICH STATE LAWS THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED AND SHALL SELECT EITHER: (A) THE LAWS OF
THE STATE OF CALIFORNIA; OR (B) IF COLLATERAL HAS BEEN PLEDGED TO SECURE THE LIABILITIES, THEN BY THE LAWS OF THE STATE OR STATES WHERE THE COLLATERAL IS LOCATED, AT LENDER’S OPTION. THIS CHOICE OF STATE LAWS IS EXCLUSIVE TO THE LENDER.
BORROWER SHALL NOT HAVE ANY OPTION TO CHOOSE THE LAWS BY WHICH THIS AGREEMENT SHALL BE GOVERNED. BORROWER ACKNOWLEDGES THAT THIS AGREEMENT IS BEING SIGNED BY THE LENDER IN PARTIAL CONSIDERATION OF LENDER’S RIGHT TO ENFORCE IN THE JURISDICTION
STATED ABOVE. BORROWER CONSENTS TO JURISDICTION IN THE STATE OF CALIFORNIA OR THE STATE IN WHICH ANY COLLATERAL IS LOCATED AND VENUE IN ANY FEDERAL OR STATE COURT IN THE STATE OF CALIFORNIA OR THE STATE IN WHICH COLLATERAL IS LOCATED FOR SUCH
PURPOSES AND WAIVES ANY AND ALL RIGHTS TO CONTEST SAID JURISDICTION AND VENUE AND ANY OBJECTION THAT SAID COUNTY IS NOT CONVENIENT. BORROWER WAIVES ANY RIGHTS TO COMMENCE ANY ACTION AGAINST LENDER IN ANY JURISDICTION EXCEPT THE STATE OF CALIFORNIA,
OR IF LENDER CHOOSES TO LITIGATE IN A STATE WHERE COLLATERAL IS LOCATED THEN IN SUCH COUNTY AND STATE. 

  

	 	(g)	Limitation of Liability. The Lender shall not, under any circumstances, be liable for any error or omission or delay of any kind occurring in the settlement, collection or payment of any Receivables or any
instrument received in payment thereof or for any damage resulting therefrom. The Lender is authorized to accept the return of the goods represented by any of the Receivables, without notice to or consent by the Borrower, or without discharging or
in any manner affecting the Indebtedness. 

  

	 	(h)	 Notification to Account Debtors. The Lender shall have the right at any time after the occurrence and during the continuation of an Event of
Default to notify any Account Debtor of the Lender’s security interest in the Receivables and to require payments to be made directly to the Lender. To facilitate direct collection, the Borrower hereby appoints the Lender and any officer or
employee of the Lender, as the Lender may from time to time designate, after the occurrence and during the 

  
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continuation of an Event of Default as attorney-in-fact for the Borrower to (a) receive, open and dispose of
all mail addressed to the Borrower and take therefrom any payments on or proceeds of Receivables; (b) take over the Borrower’s post office boxes or make such other arrangements, in which the Borrower shall cooperate, to receive the
Borrower’s mail, including notifying the post office authorities to change the address for delivery of mail addressed to the Borrower to such address as the Lender shall designate; (c) endorse the name of the Borrower in favor of the
Lender upon any and all checks, drafts, money orders, notes, acceptances or other evidences of payment or Collateral that may come into the Lender’s possession; (d) sign and endorse the name of the Borrower on any invoice or bill of lading
relating to any of the Receivables, on verifications of Receivables sent to any Account Debtor, to drafts against any Account Debtor, to assignments of Receivables, and to notices to any Account Debtor; and (e) do all acts and things necessary
to carry out this Agreement and the transactions contemplated hereby, including signing the name of the Borrower on any instruments required by law in connection with the transactions contemplated hereby and on financing statements as permitted by
the Code. The Borrower hereby ratifies and approves all acts of such attorneys-in-fact, and neither the Lender nor any other such attorney-in-fact shall be liable for any acts of commission or omission, or for any error of judgment or mistake of fact or law of any such
attorney-in-fact, in each case, except to the extent resulting from the gross negligence or willful misconduct of Lender or such other attorney-in-fact. This power,
being coupled with an interest, is irrevocable so long as the Indebtedness (other than any unasserted claims for indemnification or expense reimbursement) remains unsatisfied, or any Loan Document remains effective, as solely determined by the
Lender. 

  

	 	(i)	Loss, Depreciation or Other Damage. The Lender shall not be liable for or prejudiced by any loss, depreciation or other damage to Receivables or other Collateral unless caused by the Lender’s gross
negligence or willful misconduct, and the Lender shall have no duty to take any action to preserve or collect any Receivable or other Collateral beyond the degree of care with which Lender treats its own property. 

 

	 	(j)	Use of Information. Borrower shall permit Lender to list Borrower’s name and logo and to describe the transaction contemplated herein in Lender’s marketing materials and press releases and to post such
information on Lender’s website. Lender and Borrower agree to enter into a mutually agreeable press release announcing the financing contemplated by this Loan Agreement, provided that the press release shall be approved by Borrower within ten
(10) days of Lender’s request. 

  

	 	(k)	Payments. Borrower authorizes Lender to debit the Loan payments by electronic means (e.g., automated clearinghouse payment) (the “ACH Payments”) from Borrower’s deposit account and Borrower
shall provide Lender with the ACH Payment information and instructions prior to funding of any Advance hereunder. 

 10. DEFINITIONS.

 As used herein, the following terms, when initial capital letters are used, shall have the respective meanings set forth below. In
addition, all terms defined in the California Uniform Commercial Code (including revised Article 9 thereof) (the “Code”) shall have the meanings given therein unless otherwise defined herein. 

Defined Terms. As used in this Agreement, the following terms shall have the following meanings, unless the context otherwise requires: 

“Account Debtor” shall mean the account debtor or any customer of the Borrower who is obligated or indebted to the Borrower
with respect to any of the Receivables and/or the prospective purchaser with respect to any contract right, and/or any party or organization who enters into any contract or other arrangement with the Borrower pursuant to which the Borrower is to
deliver any personal property or perform any service. 

  
 20 

 “Additional Indebtedness” means, with respect to Borrower or any of its
subsidiaries, the aggregate amount of, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (c) all
obligations of such Person to pay the deferred purchase price of property or services (excluding trade payables aged less than one hundred eighty (180) days), (d) all capital lease obligations of such Person, (e) all obligations or
liabilities of others secured by a Lien on any asset of such Person, whether or not such obligation or liability is assumed, (f) all obligations or liabilities of others guaranteed by such Person, and (g) any other obligations or
liabilities which are required by GAAP to be shown as debt on the balance sheet of such Person. Unless otherwise indicated, the term “Additional Indebtedness” shall include all Indebtedness of Borrower and its subsidiaries. 

“Affiliate” of a Person is a Person that owns or controls directly or indirectly the Person, any Person that controls or is
controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that Person’s managers and members. 

“Balance Due” means the product of the corresponding percentage indicated on the Balance Due Rider, which is attached as
Rider No. 2 to the applicable Loan Schedule, for the Basic Loan Payment date immediately preceding the date that the event which caused the Event of Default occurred, multiplied by the total principal amount borrowed by Borrower under
such Loan Schedule. 
 “Cash Equivalents” means the sum outstanding, at any one time, of (i) all cash (in United States
dollars) owned by Borrower at such time plus (ii) the fair market value of all cash equivalents and short term investments (as those terms are defined by GAAP) owned by Borrower at such time. 

“Change in Control” means (i) a change in the majority interest or control of ownership of the Borrower in any one
transaction or series of related transactions, or (ii) a sale, assignment, or acquisition of all, or substantially all, of the property of Borrower by merger, consolidation or purchase; provided that in no event shall the occurrence of a
Qualified Public Offering constitute a Change in Control. 
 “Collateral” shall mean all personal property and fixtures of
the Borrower, including, but not limited to all of the Receivables, Payments, accounts, the Deposit Account or Accounts, contract rights, instruments, documents, chattel paper (including tangible and electronic chattel paper), payment intangibles,
commercial tort claims, health-care-insurance receivables, instruments, investment property, supporting obligations and general intangibles now owned or hereafter acquired by the Borrower and all goods, equipment, general intangibles and property of
the Borrower described below which is now owned or hereafter acquired by the Borrower, wherever located; all deposit accounts (including all signature cards, account agreements and other documents relating to deposit accounts) and other obligations
or indebtedness owed to the Borrower from whatever source arising; letter of credit rights; all rights of the Borrower to receive any payment in money or kind; all Inventory; all Equipment; all of the Borrower’s rights as an unpaid seller,
including stoppage in transit, detinue and reclamation; all guarantees, or other agreements or property securing or relating to any of the items referred to above, or acquired for the purpose of 

  
 21 

 
securing and enforcing any of such items; all books of account and documents related thereto; all customer lists and other documents containing the names, addresses and other information
regarding the Borrower’s customers, subscribers or those to whom the Borrower provides any services; computer tapes, programs, discs and other material, media or documents relating to the recording, billing or analyzing of any of the above; all
computers, word processors, printers, switches, interfaces, source codes, mask works, software, web servers, website service contracts, internet connection contract or line lease, website hosting service contract, website license agreements, back-up
copies of website content, contracts with website advertisers, scripts, codes or Active X controls, technology escrow agreements, website content development agreements, all rights, of whatever form, in and to instructional material, and connectors
and all parts, accessories, additions, substitutions, or options together with all property or equipment used in connection with any of the above or which are used to operate or cause to operate any features, special applications, format controls,
options or software of any or all of the above-mentioned items; whether now owned or existing or hereafter acquired or arising, contractual rights, literary rights, all amounts received as an award in or
settlement of a suit in damages, proceeds of loans, interests in joint ventures or general or limited partnerships, the sale by the Borrower of any of the foregoing and all proceeds (cash and non-cash) of the
foregoing; proceeds of property received wholly or partly in trade or exchange for the Collateral and all rents, revenues, issues, profits and proceeds in any form, including cash, insurance proceeds, distributions on stock, negotiable instruments
and other evidences of indebtedness, chattel paper, security agreements and other documents arising from the sale, lease, license, encumbrance, collection of, or any other temporary or permanent disposition of, the Collateral or any interest
therein. Notwithstanding anything in this Agreement or any other Debt Document to the contrary, the term Collateral shall not include any Intellectual Property of Borrower (the “Excluded Property”); provided, however, the
Collateral shall include all accounts, license and royalty fees and other revenues, proceeds, or income arising out of or relating to any of the foregoing Intellectual Property, (“Rights to Payments”). Notwithstanding
the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying intellectual property herein described, is necessary to have a security interest in the Rights to Payment, then the
Collateral shall automatically, and effective as of the date of the Agreement, include the intellectual property to the extent necessary to permit perfection of Lender’s security interest in the Rights to Payment. The Lender may at any time and
from time to time file, pursuant to the provisions of this Agreement, financing and continuation statements and amendments thereto reflecting the same. 

“Deposit Account” means a demand, time, savings, passbook, or similar account maintained with a bank. 

“Equipment” shall mean (a) all goods and equipment of the Borrower of every type and description, now owned and hereafter
acquired and wherever located, including, without limitation, all imbedded software, machinery, motor vehicles and other rolling stock, furniture, furnishings, tools, dies, fittings, accessories, all substitutions therefore, leasehold improvements,
fixtures, and materials and supplies relating to any of the foregoing; (b) all present and future documents of title and trust receipts relating to any of the foregoing; (c) all present and future rights, claims and causes of action of
Borrower in connection with purchases of (or contracts for the purchase of), or warranties relating to, or damages to, goods held or to be held by the Borrower as equipment; (d) all present and future warranties, manuals and other written
materials (and packaging thereof or relating thereto) relating to any of the foregoing; and (e) all present and future general intangibles of the Borrower in any way relating to any of the foregoing. 

  
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 “Intellectual Property” shall mean (a) all of the Borrower’s right,
title and interest, whether now owned or existing or hereafter acquired or arising, in and to all domestic and foreign copyrights, copyright registrations and copyright applications, whether or not registered or filed with any governmental
authority, together with (i) all renewals thereof, (ii) all present and future rights of the Borrower under all present and future license agreements relating thereto, whether the Borrower is licensee or licensor thereunder, (iii) all
income, royalties, damages and payments now or hereafter due and/or payable to the Borrower thereunder or with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof, (iv) all of
the Borrower’s present and future claims, causes of action and rights to sue for past, present or future infringements thereof, and (v) all rights corresponding thereto throughout the world (collectively “Copyright
Rights”); (b) all of the Borrower’s right, title and interest, whether now owned or existing or hereafter acquired or arising, in and to all United States and foreign patents, and pending and abandoned United States and foreign
patent applications, including, without limitation, the inventions and improvements described or claimed therein, together with (i) any reissues, divisions, continuations, certificates of re-examination,
extensions and continuations-in-part thereof, (ii) all present and future rights of the Borrower under all present and future license agreements relating thereto, whether the Borrower is licensee or
licensor thereunder, (iii) all income, royalties, damages and payments now or hereafter due and/or payable to the Borrower thereunder or with respect thereto, including, without limitation, damages and payments for past, present or future
infringements thereof, (iv) all of the Borrower’s present and future claims, causes of action and rights to sue for past, present or future infringements thereof, and (v) all rights corresponding thereto throughout the world
(collectively “Patent Rights”); (c) all of the Borrower’s right, title and interest, whether now owned or existing or hereafter acquired or arising, in and to all domestic and foreign trademarks, trademark registrations,
trademark applications and trade names, whether or not registered or filed with any governmental authority, together with (i) all renewals thereof, (ii) all present and future rights of the Borrower under all present and future license
agreements relating thereto, whether the Borrower is licensee or licensor thereunder, (iii) all income, royalties, damages and payments now or hereafter due and/or payable to the Borrower thereunder or with respect thereto, including, without
limitation, damages and payments for past, present or future infringements thereof, (iv) all of the Borrower’s present and future claims, causes of action and rights to sue for past, present or future infringements thereof, and
(v) all rights corresponding thereto throughout the world (collectively “Trademark Rights”); (d) all present and future licenses and license agreements of the Borrower, and all rights of the Borrower under or in connection
therewith, whether the Borrower is licensee or licensor thereunder, including, without limitation, any present or future franchise agreements under which the Borrower is franchisee or franchisor, together with (i) all renewals thereof,
(ii) all income, royalties, damages and payments now or hereafter due and/or payable to the Borrower thereunder or with respect thereto, including, without limitation, damages and payments for past, present or future infringements thereof,
(iii) all claims, causes of action and rights to sue for past, present or future infringements thereof, and (iv) all rights corresponding thereto throughout the world (collectively “License Rights”); (e) all present
and future trade secrets of the Borrower; and (f) all other present and future intellectual property of the Borrower. 

“Inventory” shall mean and include (a) all goods now owned or hereafter acquired by the Borrower, which are held for sale
or lease by the Borrower or are furnished or to be furnished by the Borrower under contracts of service; (b) all raw materials, work in process, finished goods, packaging materials, and other materials and supplies of every kind used or
consumed in connection with the manufacture, production, packing, shipping, advertising or sale of such goods; (c) all proceeds and products from the sale or other disposition of such goods, including all goods returned, repossessed, or
acquired by the Borrower by way of substitution or replacement, and all 

  
 23 

 
additions and accessions thereto, and all documents and instruments (as those terms are defined in the Uniform Commercial Code) covering such goods; (d) all the Borrower’s rights as an
unpaid seller, including stoppage in transit, detinue and reclamation; and (e) all of the above owned by the Borrower or in which the Borrower now has or in which the Borrower may hereafter acquire an interest, whether in transit or in the
Borrower’s constructive or actual possession or held by the Borrower or others for the Borrower’s account (including any of the above held on consignment), including, without limitation, all of the above which may be located on the
Borrower’s premises or upon the premises of any carriers, forwarding agents, truckers, warehousemen, vendors, selling agents, finishers, converters or other third parties who may have possession, temporary or otherwise, thereof. 

“Investment” means the purchase or acquisition of any capital stock, equity interest, or any obligations or other securities
of, or any interest in, any Person, or the extension of any advance, loan, extension of credit or capital contribution to, or any other investment in, or deposit with, any Person. 

“Lien(s)” shall mean any mortgage, pledge, deed of trust, assignment, security interest, encumbrance, hypothecation, lien, or
charge of any kind (including any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, and the filing of, or agreement to give, any financing statement under
the Uniform Commercial Code or comparable law of any jurisdiction). 
 “Payment” or “Payments” shall mean
any check, draft, cash or any other remittance or credit in payment or on account of any or all of the Receivables and the cash proceeds of any returned, rejected or repossessed goods, the sale or lease of which gave rise to a Receivable. 

“Permitted Indebtedness” means and includes: (i) Indebtedness of Borrower to Lender; (ii) Additional Indebtedness
arising from the endorsement of instruments in the ordinary course of business; (iii) Additional Indebtedness existing on the date hereof and set forth in Schedule B; (iv) Subordinated Indebtedness; (v) Additional Indebtedness
not to exceed $50,000 in the aggregate in any fiscal year of Borrower secured by Liens described in clause “(v)” of the definition of Permitted Liens, provided such Additional Indebtedness does not exceed the cost of the Equipment financed
with such Additional Indebtedness; (vi) other Additional Indebtedness not otherwise permitted by Section 4(c) not exceeding $100,000 in the aggregate at any time; (vii) Additional Indebtedness with respect to surety bonds and
like obligations with respect to performance contracts in the ordinary course of business; (viii) Additional Indebtedness of Borrower to any subsidiary of Borrower so long as the terms thereof do not require Borrower to pay more than $50,000 in
aggregate amount in any fiscal year to its subsidiaries; (ix) Additional Indebtedness with respect to surety, appeal, indemnity, bid, performance, warranty, release or other similar bonds or letters of credit for operating purposes and
completion guarantees, in each case in the ordinary course of business; (x) Additional Indebtedness owed to any Person (including obligations in respect of letters of credit for the benefit of such Person) providing workers’ compensation,
health, disability or other employee benefits or property, casualty or liability insurance, pursuant to reimbursement or indemnification obligations to such Person, in each case incurred in the ordinary course of business; (xi) Additional
Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business;
provided, however, that such Indebtedness is promptly extinguished; (xii) Additional Indebtedness arising in connection with endorsement of instruments for deposit in the ordinary course of business; (xiii) Indebtedness arising from
customary cash management services or in connection with any 

  
 24 

 
automated clearinghouse transfer of funds in the ordinary course of business; (xiv) Indebtedness consisting of the financing of insurance premiums or take or pay obligations contained in
supply arrangements, in each case, entered into in the ordinary course of business; and (xv) the extension, renewal or refinancing of the Additional Indebtedness described above so long as it constitutes Permitted Indebtedness, but the then
outstanding principal amount of the Additional Indebtedness may not increase or the terms modified to impose materially more burdensome terms upon the Borrower. 

“Permitted Investments” means and includes any of the following Investments as to which Lender has a perfected security
interest: (a) Deposits and deposit accounts with commercial banks organized under the laws of the United States or a state thereof to the extent: (i) the deposit accounts of each such institution are insured by the Federal Deposit
Insurance Corporation up to the legal limit; and (ii) each such institution has an aggregate capital and surplus of not less than One Hundred Million Dollars ($100,000,000); (b) Investments in marketable obligations issued or fully
guaranteed by the United States and maturing not more than one (1) year from the date of issuance; (c) Investments in open market commercial paper rated at least “A1” or “P1” or higher by a national credit rating agency
and maturing not more than one (1) year from the creation thereof; (d) Investments pursuant to or arising under currency agreements or interest rate agreements entered into in the ordinary course of business; (e) investments in joint
ventures, strategic alliances, licensing and similar arrangements customary in Borrower’s industry and which do not require Borrower to assume or otherwise become liable for the obligations of any third party not directly related to or arising
out of such arrangement; (f) any Investments permitted by Borrower’s investment policy as of the date hereof, as amended from time to time, provided that any such amendment thereto has been approved by Lender; and (g) other
Investments in an aggregate amount not to exceed $100,000 in any fiscal year of Borrower. 
 “Permitted Liens” means
(i) Lender’s Lien; (ii) liens existing on the date of this Loan Agreement and described on Schedule B so long as such liens are or shall be subordinate to Lender’s Lien or, in Lender’s reasonable opinion, do not
impact Lender rights to the Collateral; (iii) liens representing any interest or title of a licensor, lessor or sublicensor or sublessor under any lease or license permitted by this Agreement; (iii) liens for current taxes or other
governmental or regulatory assessments which are not delinquent, (subject to permitted extensions), or which are contested in good faith by the appropriate procedures and for which appropriate reserves are maintained; (iv) bankers’ liens,
rights of setoff and similar liens incurred on deposits made in the ordinary course of business as long as an account control agreement (or equivalent) for each account in which such deposits are held in a form acceptable to Lender has been executed
and delivered to Lender; (v) Liens not to exceed $50,000 in the aggregate in any fiscal year (A) upon or in any Equipment acquired or held by Debtor to secure the purchase price of such Equipment or Additional Indebtedness incurred solely
for the purpose of financing the acquisition or lease of such Equipment, or (B) existing on such Equipment at the time of its acquisition provided that the Lien is confined solely to the Equipment so acquired and improvements thereon and the
proceeds of such Equipment, (vi) materialmen’s, mechanics’, repairmen’s, employees’, carriers’, warehousemen’s or other like liens arising in the ordinary course of business and which are not delinquent for more
than forty-five (45) days or are being contested in good faith by appropriate proceedings, provided that all such liens listed in this subsection (vi) shall never secure more than $100,000 in the aggregate annually; (vii) liens on
deposits in the ordinary course of business to secure liabilities to insurance carriers, lessors, utilities and other service providers; (viii) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of
customs duties in connection with the importation of goods; and (ix) other liens securing indebtedness in an amount not in excess of $100,000 in the aggregate at any one time. 

  
 25 

 “Person” is any individual, sole proprietorship, partnership, limited liability
company, joint venture, company association, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 

“Qualified Public Offering” shall mean an initial public offering of the equity interests of the Borrower which generates cash
proceeds of at least $30,000,000. 
 “Receivables” shall mean in addition to the definition of account as contained in the
Uniform Commercial Code (a) all of the Borrower’s present and future accounts, contract rights, receivables, promissory notes and other instruments, chattel paper (including tangible and electronic chattel paper), tax refunds, general
intangibles (excluding the Intellectual Property) and all rights to receive the Payments including the payment of money or other consideration under present or future contracts including, without limitation; (b) all present and future cash of
the Borrower; (c) all present and future judgments, orders, awards and decrees in favor of the Borrower and causes of action in favor of the Borrower; (d) all present and future contingent and non-contingent rights of the Borrower to the
payment of money for any reason whatsoever, whether arising in contract, tort or otherwise including, without limitation, all rights to receive payments under presently existing or hereafter acquired or created letters of credit; (e) all
present and future claims, rights of indemnification and other rights of the Borrower under or in connection with any contracts or agreements to which the Borrower is or becomes a party or third party beneficiary; (f) all goods previously or
hereafter returned, repossessed or stopped in transit, the sale, lease or other disposition of which contributed to the creation of any account, instrument or chattel paper of the Borrower; (g) all present and future rights of the Borrower as
an unpaid seller of goods, including rights of stoppage in transit, detinue and reclamation; (h) all rights which the Borrower may now or at any time hereafter have, by law or agreement, against any Account Debtor or other obligor of the
Borrower, and all rights, liens and security interests which the Borrower may now or at any time hereafter have, by law or agreement, against any property of any Account Debtor or other obligor of the Borrower; (i) all invoices and shipping
documents; and (j) all present and future interests and rights of the Borrower, including rights to the payment of money, under or in connection with all present and future leases and subleases of real or personal property to which the Borrower
is a party, as lessor, sublessor, lessee or sublessee; and (k) all receivables due to Borrower related to the sale of Borrower’s software products, or the provision by Borrower of services related to its software products. 

“Subordinated Indebtedness” means Additional Indebtedness subordinated to the Indebtedness on terms and conditions acceptable
to Lender in its sole discretion. 

  
 26 

 IN WITNESS WHEREOF, Borrower and Lender, intending to be legally bound hereby, have duly
executed this Agreement in one or more counterparts, each of which shall be deemed to be an original, as of the day and year first aforesaid. 
  

									
	 LENDER:
				BORROWER:
			
	 ATEL VENTURES, INC.
				CYTOMX THERAPEUTICS, INC.
					
	 By:
		 /s/ Paritosh K. Choksi
				By:		 /s/ Fletcher Payne

	 Name: Paritosh K. Choksi
				Name: Fletcher Payne
	 Title: Executive Vice President
				Title: CFO

  
 27 

 SCHEDULE A 

(Collateral Locations) 

  
 28 

 SCHEDULE B 

(Permitted Indebtedness) 

(Permitted Liens) 

  
 29 

 SCHEDULE C 

COUNTERPART NO.          OF          MANUALLY EXECUTED COUNTERPARTS. ONLY
THE MANUALLY EXECUTED COUNTERPART NUMBERED “1” SHALL BE DEEMED “CHATTEL PAPER” AS SUCH TERM IS DEFINED IN THE UNIFORM COMMERCIAL CODE AND IS SUFFICIENT TO TRANSFER LENDER’S INTEREST, OR TO GRANT A SECURITY INTEREST HEREIN.

 LOAN SCHEDULE NO.          to 

MASTER LOAN AND SECURITY AGREEMENT NO. CYTOY (the “Loan”) 

dated as of December     , 2013 by and between 

ATEL VENTURES, INC. (“Lender”) and CYTOMX THERAPEUTICS, INC. (“Borrower”) 

 

	1.	Collateral Description: [See Rider 1 hereto] 

  

	2.	Amount of Advance: $3,000,000. 

  

	3.	Collateral Locations: See Schedule A to the Master Loan and Security Agreement 

  

	4.	Commencement Date: The Commencement Date shall be the first day of the calendar month following the Advance Date of the Loan, or if the Advance Date is the first day of the calendar month, on such day,
[            , 2013. 

  

	5.	Advance Date: the date indicated on the Request for Advance as the Advance Date, [            , 2013 

 

	6.	Basic Loan Term: 42 months 

  

	7.	Basic Loan Payment: In advance, $81,588.00 per month. The first and last Basic Loan Payments shall be due on the Commencement Date, and at Lender’s option, may be deducted from the Advance funded on the
Advance Date. 

  

	8.	Loan Rate Factor: The Basic Loan Payment is conditional upon Lender financing the amount of the Advance indicated above. Lender and Borrower agree that the Basic Loan Payment described herein is based on a Loan
Rate Factor of 2.7196% which equates to $27.196 for each full $1,000 of the Advance. Lender and Borrower further agree that the Basic Loan Payment and Loan Rate Factor described herein may be adjusted in accordance with the provisions of
Section 1(c) of the Master Loan and Security Agreement. 

  

	9.	Riders:     Rider No. 2 to the Loan Schedule – Balance Due Value 

  is incorporated herein by reference. 
  

	10.	Loan Agreement: All of the terms, covenants and conditions set forth in the Master Loan and Security Agreement are incorporated herein by reference as if the same had been set forth herein in full.

  

	11.	End-of-Loan Requirement: At the expiration of the Basic Loan Term of this Loan, Borrower shall make a final payment equal to six and one half percent (6.5%) of the original amount of the Advance set forth on
this Loan Schedule. 

 Lender shall provide a Notification of Schedule Adjustment to Borrower should the Basic Loan Payment be adjusted
as provided for in Paragraph 8 above. 
  

									
	 ATEL VENTURES, INC.
				CYTOMX THERAPEUTICS, INC.
					
	 By:
		  
				By:		  

					
	 Title:
		  
				Title:		  

					
	 Date:
		  
				Date:		  

  
 30 

 RIDER NO. 1 

TO LOAN SCHEDULE NO. [    ] 

TO MASTER LOAN AND SECURITY AGREEMENT NO. CYTOY 

dated as of December     , 2013 (the “Loan”) between 

ATEL VENTURES, INC. as Lender and CYTOMX THERAPEUTICS, INC., as Borrower 

“Collateral” shall mean all personal property and fixtures of the Borrower, including, but not limited to all of the
Receivables, Payments, accounts, the Deposit Account or Accounts, contract rights, instruments, documents, chattel paper (including tangible and electronic chattel paper), payment intangibles, commercial tort claims, health-care-insurance
receivables, instruments, investment property, supporting obligations and general intangibles now owned or hereafter acquired by the Borrower and all goods, equipment, general intangibles and property of the Borrower described below which is now
owned or hereafter acquired by the Borrower, wherever located; all deposit accounts (including all signature cards, account agreements and other documents relating to deposit accounts) and other obligations or indebtedness owed to the Borrower from
whatever source arising; letter of credit rights; all rights of the Borrower to receive any payment in money or kind; all Inventory; all Equipment; all of the Borrower’s rights as an unpaid seller, including stoppage in transit, detinue and
reclamation; all guarantees, or other agreements or property securing or relating to any of the items referred to above, or acquired for the purpose of securing and enforcing any of such items; all books of account and documents related thereto; all
customer lists and other documents containing the names, addresses and other information regarding the Borrower’s customers, subscribers or those to whom the Borrower provides any services; computer tapes, programs, discs and other material,
media or documents relating to the recording, billing or analyzing of any of the above; all computers, word processors, printers, switches, interfaces, source codes, mask works, software, web servers, website service contracts, internet connection
contract or line lease, website hosting service contract, website license agreements, back-up copies of website content, contracts with website advertisers, scripts, codes or Active X controls, technology escrow agreements, website content
development agreements, all rights, of whatever form, in and to instructional material, and connectors and all parts, accessories, additions, substitutions, or options together with all property or equipment used in connection with any of the above
or which are used to operate or cause to operate any features, special applications, format controls, options or software of any or all of the above-mentioned items; whether now owned or existing or hereafter
acquired or arising, contractual rights, literary rights, all amounts received as an award in or settlement of a suit in damages, proceeds of loans, interests in joint ventures or general or limited partnerships, the sale by the Borrower of any of
the foregoing and all proceeds (cash and non-cash) of the foregoing; proceeds of property received wholly or partly in trade or exchange for the Collateral and all rents, revenues, issues, profits and proceeds
in any form, including cash, insurance proceeds, distributions on stock, negotiable instruments and other evidences of indebtedness, chattel paper, security agreements and other documents arising from the sale, lease, license, encumbrance,
collection of, or any other temporary or permanent disposition of, the Collateral or any interest therein. Notwithstanding anything in this Agreement or any other Debt Document to the contrary, the term Collateral shall not include any
Intellectual Property of Borrower (the “Excluded Property”); provided, however, the Collateral shall include all accounts, license and royalty fees and other revenues, proceeds, or income arising out of or relating to any of the foregoing
Intellectual Property, (“Rights to Payments”). Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying intellectual property herein
described, is necessary to have a security interest in the Rights to Payment, then the Collateral shall automatically, and effective as of the date of the Agreement, include the intellectual property to the extent necessary to permit perfection of
Lender’s security interest in the Rights to Payment. The Lender may at any time and from time to time file, pursuant to the provisions of this Agreement, financing and continuation statements and amendments thereto reflecting the same. 

  
 31 

 RIDER NO. 2 

TO LOAN SCHEDULE NO. [        ] 

TO MASTER LOAN AND SECURITY AGREEMENT NO. CYTOY 

dated as of December         , 2013 (the “Loan”) between 

ATEL VENTURES, INC. as Lender and CYTOMX THERAPEUTICS, INC., as Borrower 

Balance Due Value: means the product of the corresponding percentage indicated below, for the Basic Loan Payment date immediately preceding the date
that the event which caused an Event of Default or Prepayment occurred times the original amount of the Working Capital Line in the event of an Event of Default or Prepayment. 

 

					
	 Period
	  	Balance Due
Value
For Events of Loss or Event of
Default
(stated as a percentage of Cost)	 
	 After Payment Period No. 1
	  	 	114.56	% 
	
                         
                  2
	  	 	111.88	% 
	
                         
                  3
	  	 	109.19	% 
	
                         
                  4
	  	 	106.50	% 
	
                         
                  5
	  	 	103.81	% 
	
                         
                  6
	  	 	101.12	% 
	
                         
                  7
	  	 	98.43	% 
	
                         
                  8
	  	 	95.74	% 
	
                         
                  9
	  	 	93.05	% 
	
                         
                  10
	  	 	90.36	% 
	
                         
                  11
	  	 	87.66	% 
	
                         
                  12
	  	 	84.97	% 
	
                         
                  13
	  	 	82.28	% 
	
                         
                  14
	  	 	79.58	% 
	
                         
                  15
	  	 	76.88	% 
	
                         
                  16
	  	 	74.19	% 
	
                         
                  17
	  	 	71.49	% 
	
                         
                  18
	  	 	68.79	% 
	
                         
                  19
	  	 	66.09	% 
	
                         
                  20
	  	 	63.39	% 
	
                         
                  21
	  	 	60.69	% 
	
                         
                  22
	  	 	57.99	% 
	
                         
                  23
	  	 	55.28	% 
	
                         
                  24
	  	 	52.58	% 
	
                         
                  25
	  	 	49.88	% 
	
                         
                  26
	  	 	47.17	% 
	
                         
                  27
	  	 	44.47	% 
	
                         
                  28
	  	 	41.76	% 
	
                         
                  29
	  	 	39.05	% 
	
                         
                  30
	  	 	36.34	% 
	
                         
                  31
	  	 	33.63	% 
	
                         
                  32
	  	 	30.92	% 
	
                         
                  33
	  	 	28.21	% 

  
 32 

					
	
                         
                  34
		 	25.50	% 
	
                         
                  35
		 	22.79	% 
	
                         
                  36
		 	20.08	% 
	
                         
                  37
		 	17.36	% 
	
                         
                  38
		 	14.65	% 
	
                         
                  39
		 	11.93	% 
	
                         
                  40
		 	9.22	% 
	
                         
                  41
		 	6.50	% 
	
                         
                  42
		 	6.50	% 

 Balance Due Values are in addition to payment(s) due during the referenced period. 

 

			
	 CYTOMX THERAPEUTICS, INC.

		
	 By:
		  

		
	 Title:
		  

		
	 Date:
		  

  
 33 

 [SCHEDULE D] 

MASTER LOAN AND SECURITY AGREEMENT NO. CYTOY (the “Loan”) 

dated as of December         , 2013, by and between 

ATEL VENTURES, INC. (the “Lender”) and CYTOMX THERAPEUTICS, INC. (the “Borrower”) 

REQUEST FOR ADVANCE No.         -         

WHEREAS, CYTOMX THERAPEUTICS, INC. (“Borrower”) will execute a Loan Schedule [No.
        ] to a certain Master Loan and Security Agreement No. CYTOY dated December     , 2013, (the Loan Schedule, as it incorporates or will incorporate the term of the Loan Agreement,
hereinafter referred to as the “Loan”) between itself and ATEL VENTURES, INC. (“Lender”), and 

WHEREAS, said Loan Schedule lists or will list certain Collateral more fully described on Rider 1 hereto (“Collateral”); 

NOW, THEREFORE, (i) Borrower requests that Lender make an Advance to Borrower equal to $3,000,000.00. The date of any such
payment shall be set forth below and known as the “Advance Date”. Borrower agrees that Lender may fill in the Advance Date below on the date such Advance is made. 

Borrower agrees that pursuant to the terms of the Loan, the Daily Loan Payment is
$             which will be multiplied by the number of days from (and including) the Advance Date to (but not including) the Commencement Date of the Loan Schedule and shall be due and
payable on the Commencement Date and such Daily Loan Payment is due without right of deduction, offset, abatement, defense, counterclaim or demand whatsoever. The Basic Loan Payment hereunder is
$             per month, and is due monthly in advance without right of deduction, offset, abatement, defense, counterclaim or demand whatsoever on the Commencement Date and on the first
day of each month thereafter for 42months. 
 Borrower confirms that the Collateral is insured with the Lender designated as Loss
Payee/Additional Insured. 
 Borrower confirms having made for its own records a copy of this Request for Advance contemporaneously with its
execution. 
  

			
	 CYTOMX THERAPEUTICS, INC.

		
	 By:
		  

		
	 Title:
		  

	
	
Advance Date:                      
                                    

  
 34 

 [SCHEDULE E] 

CYTOMX THERAPEUTICS, INC. 

CERTIFICATE OF SECRETARY 

December         , 2013 

The undersigned, Fletcher Payne, does hereby certify that he is the duly elected and qualified Secretary of CytomX Therapeutics, Inc., a
Delaware corporation (the “Company”), and that pursuant to Section 1(b) of that certain Master Loan and Security Agreement dated as of December     , 2013, by and between the Company and ATEL Ventures, Inc.
(the “Agreement”): 
 1. Attached hereto as Exhibit A is a true and complete copy of the Amended and Restated
Certificate of Incorporation of the Company, as amended to date, as filed with the Secretary of State of the State of Delaware, which is in full force and effect as of the date hereof. 

2. Attached hereto as Exhibit B is a true and complete copy of the Bylaws of the Company, as amended to date, which are in full
force and effect as of the date hereof. 
 3. Attached hereto as Exhibit C is a true and complete copy of the resolutions duly
adopted by the Board of Directors of the Company on December     , 2013 authorizing the Agreement, the execution, delivery and performance of the Agreement and all ancillary agreements and the taking of all action required
thereunder or in connection therewith. Such resolutions have not been modified, rescinded or amended since their adoption and are in full force and effect as of the date hereof. 

4. Each of the persons listed below has been duly elected to and now holds the office(s) of the Company set forth opposite his name and is
currently serving in such capacity(ies), and the signature of each such person set forth opposite his or her name is his true and genuine signature: 
  

					
	 Name
	  	 Title
	  	 Signature

			
	 Hoyoung Huh
	  	Chairman of the Board	  	  

			
	 Sean McCarthy
	  	Chief Executive Officer and Assistant Secretary	  	  

			
	 Fletcher Payne
	  	Chief Financial Officer and Secretary	  	  

 Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the
Agreement. The foregoing shall be deemed to be the representations of the Company and not of the undersigned personally. 
 [Remainder of
page intentionally left blank] 
  

 IN WITNESS WHEREOF, the undersigned has executed this Certificate of Secretary as of the date
first above written. 
  

			
	 By:
		  

			Fletcher Payne
			Secretary

 [SCHEDULE F] 

INSURANCE VERIFICATION 
  

							
	 TO:
		_____________,___________		________________________		
			Insurance Company		Agent’s Name  		
			_____________,___________		________________________		
			Address		Phone Number  		
			_____________,___________				
			City, State, Zip Code				

 Gentlemen: 
 Under the term of
our Loan Agreement, we hereby request that a Memorandum or Certificate of Insurance be issued as follows: 
  

	 	1.	Liability Policy: “ATEL VENTURES, INC. (ATEL) and ITS ASSIGNEES” to be named as an “ADDITIONAL INSURED” party.  

 

	 	[a]	Named Additional Insured: ATEL VENTURES, INC. and its Assignees 

  

	 	[b]	Minimum Insured Value: [$3,000,000] 

  

	 	2.	Physical Damage or Loss Policy: “ATEL and ITS ASSIGNEES” to be named as a “LOSS PAYEE” and 

  

	 	[a]	Loss Payee, as interest may appear: ATEL VENTURES, INC. and its Assignees 

  

	 	[b]	Minimum Insured Value: [$            ] 

THIRTY (30) DAY NOTICE OF CANCELLATION OR CHANGE IN POLICY MUST BE GIVEN 

This insurance coverage is mandatory to consummate this loan transaction. Please mail one copy of the Memorandum or Certificate of Insurance to ATEL and one to
the additional insured/Loss Payee. 
 Your immediate implementation of this instrument would be appreciated. Should you have any questions, please contact
ATEL (415) 989-8800. 
 The undersigned authorizes ATEL, its assignees, or the Loss Payee to coordinate insurance coverage requirement with our agents.

  

			
	 CYTOMX THERAPEUTICS, INC.
		
		
	 By:
                                         
           
		
			RETURN TO
	
Title:                        
                             
		ATEL VENTURES, INC.
			600 Montgomery Street, 9th Floor
	
Date:                        
                             
		San Francisco, CA 94111-2711

 [SCHEDULE G] 

NOTICE AND ACKNOWLEDGMENT OF ASSIGNMENT 

Reference is hereby made to Master Loan and Security Agreement No. CYTOY, dated as of December     , 2013, and to Loan
Schedule No.             thereto, dated as of             , between ATEL VENTURES, INC., as Lender (“Lender”) and
CYTOMX THERAPEUTICS, INC. as Borrower (“Borrower”) (the Loan Schedule and the Master Loan and Security Agreement as it is incorporated in the Loan Schedule, and any and all other documentation relating to the transaction
contemplated thereby is hereinafter referred to as the “Loan”.) 
 Lender hereby gives Borrower notice and Borrower hereby
acknowledges receipt of notice that Lender has assigned to             whose offices are at             (“Assignee”)
all of its rights, but none of its obligations, in the Loan and the Collateral financed thereunder (“Collateral “) [as security for a loan made or about to be made by Assignee to Assignor]. Borrower agrees to make payment of any and all
monies due or to become due Assignor thereunder to Assignee until Assignee instructs Borrower otherwise in writing. 
 In recognition of
Assignee’s reliance upon this Notice and Acknowledgment of Assignment in agreeing make a loan secured by the Collateral subject to the Loan and in consideration of Assignee’s agreement to not interfere with Borrower’s quiet possession
of the Collateral subject to the terms of the Loan, Borrower certifies, confirms and agrees as follows: 
 1. That the Borrower will not
assert against Assignee any defense, claim, counterclaim, recoupment, setoff, or right to cancel or terminate the Loan which Borrower may have against Assignor. Borrower agrees that it will pay to Assignee all monies due or to become due under the
Loan without regard to any such defense, claim, counterclaim, recoupment, set-off or right whether arising under this Loan or any other transaction or otherwise and will not seek to recover any part of the same from Assignee, provided that Borrower
shall not be obligated to make any payment or perform any obligation under the Loan in favor of Assignee if, when no Event of Default shall have occurred and be continuing and has not been cured to the satisfaction of Lender, Assignee interferes
with Borrower’s right to quiet enjoyment of the Collateral. [Notwithstanding the foregoing, nothing herein shall be deemed to relieve Assignor of any of its obligations to Borrower under the Loan.] 

2. That the Collateral is in Borrower’s possession at the address specified in the Loan Schedule, that the Collateral has been inspected
by duly authorized representatives of Borrower and has been fully and finally accepted by duly authorized representatives of Borrower as the Collateral under the Loan and found to be in good working order and suitable for the Borrower’s
purposes in all respects. 
 3. That the Loan is in full force and effect and that any modification, amendment or supplement to the Loan has
been approved by Assignee. Any future modification, termination, amendment or supplement to the Loan or settlement of amounts due thereunder shall be ineffective without Assignee’s prior written consent, which will not be unreasonably withheld
or delayed. 
 4. That neither Borrower nor, to Borrower’s knowledge, Assignor has breached the Loan in any respect and that payments of
any and all monies due under the Loan have been and will continue to be paid in strict accordance with the terms of the Loan. As of             ,
2            , there are             successive loan payments of
$            each due under the Loan. 
 5. [Borrower acknowledges that Assignee
has not assumed any of the obligations of Assignor or any other party under the terms of the Loan, and Assignee shall not be responsible in any way for the performance by Assignor or any other party of the terms and conditions of the Loan. Further,
]Assignor hereby notifies Borrower and Borrower acknowledges that Assignee is entitled to the benefits of each and every right accorded Assignor in the Loan, including but not limited to remedies, inspection rights, indemnity rights, right to give
consent, right to receive payment of costs and expenses incurred in exercising rights and remedies under the Loan, including reasonable attorney’s fees, and the right to receive notices and other documents required to be furnished under the
Loan. 
 6. That Borrower has received no notice of a prior sale, transfer, assignment, hypothecation or pledge of the Loan, the Loan Payment
reserved thereunder or the Collateral. Borrower agrees to not enter into any assignment, sublease or other transfer of its rights, duties, obligations or interests in the Loan or Collateral except in accordance with the provisions of the Loan. 

7. That Borrower is aware of no claim of any kind or nature in or to the Collateral, or of any lien thereon other than Assignor’s
interest, Permitted Liens and Borrower’s rights thereto under the Loan, and that Borrower will keep the Loan and Collateral free and clear of all liens and encumbrances arising by, through, or from Borrower. 

9. All representations and duties of Assignor intended to induce Borrower to enter into this Loan whether required by the Loan or otherwise,
have been fulfilled. 
  

									
	 ATEL VENTURES, INC.
				CYTOMX THERAPEUTICS, INC.
					
	 By:
		  
				By:		  

					
	 Title:
		  
				Title:		  

					
	 Date:
		  
				Date:		  

 [SCHEDULE H] 

CONSENT TO REMOVAL OF COLLATERAL 

The undersigned has an interest as owner in the following described real property, (the “Real Property”): 

That certain real property located at 343 OYSTER POINT BLVD. S. SAN FRANCISCO CA.  

CYTOMX THERAPEUTICS, INC., as Borrower (“Borrower”), in order to obtain a loan, has entered into or will enter into Master
Loan and Security Agreement No. CYTOY dated as of December     , 2013 with ATEL VENTURES, INC., as Lender (“Lender”). The Master Loan and Security Agreement and related Loan Schedules which incorporate the terms and
conditions of the Master Loan and Security Agreement (together, the “Loans”), are secured by a lien on certain equipment of Borrower (the “Collateral”), which is or will be located upon the Real Property, and is described as
follows: 
 See attached Rider 1 which Rider 1 may be amended from time to time. 

Lender, as a condition to entering into the Loans, requires that the undersigned landlord consent to the removal by Lender of the Collateral
from the Real Property, no matter how it is affixed thereto, and to the other matters set forth below. 
 NOW, THEREFORE, for a good and
sufficient consideration, receipt of which is hereby acknowledged, the undersigned consents to the placing of the Collateral on the Real Property, and agrees with Lender as follows: 

1. The Collateral shall be considered to be personal property of Borrower and shall not be considered part of the Real Property regardless of
whether or by what means it is or may become attached or affixed to the Real Property. 
 2. The undersigned has not and will not claim any
interest in the Collateral. The undersigned waives any right of distraint, attachment or execution against the Collateral or any claim to the Collateral, statutory or otherwise, during the effectiveness of the Loans. 

3. The undersigned will permit Lender or its successors and assigns or agents to enter upon the Real Property for the purpose of exercising any
right it may have under the terms of the Loans or otherwise including, without limitation, the right to inspect and the right to remove the Collateral from the Real Property; provided, however, that if Lender, in removing the Collateral damages any
improvements of the undersigned on the Real Property, Lender will at its expense, cause the same to be promptly repaired. 
 4. Prior to the
undersigned taking any action to terminate the Real Property lease or to evict Borrower from the Real Property for breach of the Real Property lease, the undersigned shall give Lender not less than thirty (30) days’ written notice of such
action at the address set forth below, and a reasonable opportunity to preserve, protect, liquidate, or remove any Collateral on the Real Property. 

5. This agreement shall be binding upon the heirs, successors and assignees of the undersigned. 

6. This agreement may be executed in counterparts all of which together shall constitute the original. 

7. This agreement shall be deemed to have been made under and shall be governed by the laws of the State of California in all respects,
including matters of construction, validity and performance. At Lender’s sole discretion, option and election, jurisdiction and venue for any legal action between the parties arising out of or relating to this Waiver shall be in the Superior
Court of San Francisco County, California, or, in cases where federal diversity jurisdiction is available, in the United States District Court for the Northern District of California located in San Francisco, California. The prevailing party in any
legal action under this agreement shall be entitled to recover reasonable attorneys’ fees and costs from the losing party. 
 IN
WITNESS WHEREOF, the undersigned has executed this instrument as of «DATE». 
  

			
	«INSERT UNDERSIGNED_NAME»
		
	By:		  

		
	Title:		  

		
	Telephone:		  

		
	E-Mail: 		  

			
	Acknowledged and Agreed:
	
	ATEL VENTURES, INC.
		
	By:		  

		
	Title:		  

	
	The foregoing Consent must be returned to:
	
	ATEL Ventures, Inc.
	600 Montgomery Street, 9th Floor
	San Francisco, California 94111
	Attn: Kay Jones
	 (415) 616-3440

kjones@atel.com

 RIDER 1 TO 

CONSENT TO REMOVAL OF COLLATERAL 
  

 [SCHEDULE I] 

WAIVER AGREEMENT 
 CYTOMX THERAPEUTICS,
INC., (“Customer”) and «COMPANY _NAME», (“Company”) entered into a             dated as of
            , (“Agreement”) for the placement of certain Equipment, as defined below, at Company’s address at
            (the “Location”). 
 ATEL VENTURES, INC.
(“ATEL”) has entered into a Master Loan and Security Agreement No. CYTOY with Customer dated as of December     2013, (the “Security Agreement”) covering the equipment described on Rider 1 hereto and any
additions, accessions or replacements thereto (the “Collateral”). 
 ATEL, Company and Customer now desire to enter into this
Waiver Agreement (“Waiver”) as of «DATE». 
 NOW, THEREFORE, notwithstanding anything to the contrary contained
in this Waiver, Customer, Company and ATEL agree as follows: 
 1. Company shall have no right of bailment and Company shall not hold any or
all of the Collateral in bailment. 
 2. The Collateral shall be considered to be personal property and shall not be considered part of any
real property regardless of whether or by what means it is or may become attached or affixed to any real or other personal property. 
 3.
Company has no, and will not claim any, interest in the Collateral. 
 4. Upon three days prior notice to Company, Company will permit ATEL
to enter the Location for the purpose of inspecting or removing the Collateral, provided that ATEL indemnifies Company and holds it harmless from and against any other person, corporation or entity claiming to have any interest in the Collateral.
Company agrees to such removal of the Collateral. If ATEL, in removing any of the Collateral damages any improvements of Company at the Location, ATEL will cause the same to be repaired at ATEL’s expense. 

5. Company shall not remove any of the Collateral without ATEL’s prior written consent. Company shall notify ATEL within 10 days of any
termination or expiration of the Agreement and permit ATEL to remove the Collateral as described in Section 4 above. 
 6. All notices
hereunder shall be sent by reliable, overnight messenger, with proof of delivery. The terms of this Waiver shall be binding on the heirs, successors and assigns of each party. Customer may not assign the Agreement without ATEL’s prior written
consent. Company may assign the Agreement with prior written notice to ATEL. 
 7. Company and Customer shall not amend the Agreement without
prior written notice to ATEL. 
 8. This Waiver may only be modified by a writing signed by an authorized representative of each party. 

9. This Waiver may be executed in counterparts all of which together shall constitute the original. 

10. In the event of any conflict between the terms of this Waiver and the Agreement, the terms of this Waiver shall prevail. 

11. This Waiver shall be deemed to have been made under and shall be governed by the laws of the State of California in all respects, including
matters of construction, validity and performance. At ATEL’s sole discretion, option and election, jurisdiction and venue for any legal action between the parties arising out of or relating to this Waiver shall be in the Superior Court of San
Francisco County, California, or, in cases where federal diversity jurisdiction is available, in the United States District Court for the Northern District of California located in San Francisco, California. The prevailing party in any legal action
under this Waiver shall be entitled to recover reasonable attorneys’ fees and costs from the losing party. 
 [signature pages follow]

  

 IN WITNESS WHEREOF, the parties have executed this Waiver Agreement. 

 

									
	Company:				Customer:
					
	By:		  
				By:		  

	Title:		  
				Title:		  

	Notice Address:		  
				Notice Address:		  

	  
				  

	Attention:		  
				Attention:		  

	Telephone:		  
				Telephone:		
	Fax:		  
				Fax:		  

				
	ATEL VENTURES, INC.						
					
	By:		  
						
	Title:		  
						
	Notice Address: 600 Montgomery Street, 9th Floor						
	San Francisco, CA 94111						
	Attention: General Counsel						
	Telephone: (415) 989-8800						
	Fax: (415) 616-5555						

  

 RIDER NO. 1 TO 

WAIVER AGREEMENT 
  

 [SCHEDULE J] 

BAILEE WAIVER AND AGREEMENT 

This Bailee Waiver and Agreement (this “Agreement”) is executed by the undersigned for the benefit of ATEL VENTURES, INC., as Lender
(the “Lender”) under the Loan Agreement defined below, effective as of «DATE», as follows: 
 DEFINITIONS

 The following definitions shall apply throughout this Agreement: 

“Lender” means ATEL VENTURES, INC., a California corporation with an office located at 600 Montgomery Street, 9th
Floor, San Francisco, CA 94111, in its capacity as the Lender under the Loan Agreement, and its successors and assigns. 

“Bailee” means the undersigned, and its successors and assigns. 

“Borrower” means CYTOMX THERAPEUTICS, INC., a Delaware corporation. 

“Business Day” is any day that is not a Saturday, Sunday or a day on which banks are closed. 

“Collateral” has the meaning specified in the Loan Agreement (including, without limitation, Borrower’s
accounts, payment intangibles and inventory, and other assets of the Borrower related thereto). 
 “Loan Agreement”
means that certain Master Loan and Security Agreement No. CYTOY, dated as of December             , 2013, among the Borrower, the Lender, and any amendment, restatement, supplement, or
other modification thereof. 
 “Lender” means the Lender (as defined in the Loan Agreement) as a party to the Loan
Agreement. 
 “Premises” collectively means any and all locations owned, leased, or otherwise controlled by the
Bailee where any Property is located. 
 “Property” means, collectively, any and all property constituting
Collateral (including, without limitation, inventory and books and records) now or hereafter owned by the Borrower and delivered by or on behalf of the Borrower to the Bailee pursuant to any bailment agreement, processing agreement, consignment,
“sale or return” or similar agreement (regardless of when, or whether, title passes to the Bailee) or any other agreement, which at any time, from time to time, is stored on or otherwise located on the Premises for any purpose.
“Property” also includes any and all proceeds of any of the foregoing, including, without limitation, all accounts, cash proceeds, or other property received upon sale or disposition thereof. 

RECITALS 
 A. The Borrower
and the Lender have entered into the Loan Agreement. 
 B. To secure the payment and performance of the Borrower’s obligations under the
Loan Agreement, the Borrower has granted to the Lender pursuant to the Loan Agreement, a continuing security interest and lien in (among other property) the Property. 

C. The Borrower has delivered, and from time to time hereafter will deliver, to the Bailee the Property at the Premises. 

D. In consideration of the Lender’s agreement to provide credit to the Borrower under the Loan Agreement, the Lender has required that the
Bailee enter into this Agreement with the Lender. 
 NOW THEREFORE, for value received, and for other good and valuable consideration, the
receipt and adequacy of which hereby are acknowledged, the Bailee hereby agrees with the Lender, as follows: 
 1. Notification and
Acknowledgment. The Lender hereby notifies the Bailee of the continuing security interest and lien of the Lender, in and to all of the Collateral, including all Property now or hereafter at any time in possession of the Bailee. The Bailee hereby
acknowledges receipt of such notification. The Bailee hereby acknowledges and agrees that title to all Property now or hereafter received from the Borrower and held by the Bailee for processing, storing, or sale shall at all times remain with the
Borrower, and the Bailee shall make no claim with respect thereto. The Bailee agrees, at the Borrower’s expense, to execute in favor of the Lender, or join with the Borrower in the execution of, such documents, instruments, financing
statements, certificates, and agreements as the Lender may reasonably request from the Bailee hereafter to evidence or give notice of such security interest. 

2. Waiver. The Bailee hereby waives and releases any and all liens, security interests, or other interests, however arising, which the
Bailee now has or may hereafter acquire with respect to any of the Property, and agrees that all possessory rights now or hereafter claimed by the Bailee with respect thereto are expressly subordinate and subject to the Lender’s rights as
provided herein. 
 3. Directives. Until receipt of further written notice from the Lender to the Bailee at the Bailee’s address
set forth in paragraph 10 (“Notices”) below, the Bailee is hereby authorized to release Property in accordance with the Borrower’s directions, provided, that upon written notice by the Lender to the Bailee, the Bailee shall not honor
any directions by the Borrower and shall release Property only in accordance with the Lender’s instructions. 

 4. Rights of the Lender. The Bailee agrees that the Lender, through its authorized
representatives, may enter upon the Premises from time to time for the purpose of inspecting, repairing, removing, or conducting a sale or sales of any or all of the Property, and the Bailee shall not hinder or prevent the Lender from taking any
such action. The Bailee further agrees that the Lender shall have no obligation or liability to the Bailee except for costs and expenses actually incurred by the Bailee to repair any damage to the Premises directly caused by the Lender or its
authorized representatives in any such removal of the Property. 
 5. Segregation. The Bailee hereby agrees that the Property at all
times will be kept segregated and apart from other property, if any, from time to time located on the Premises. 
 6. Access; Charges.
Nothing contained in this agreement shall modify the obligation of the Borrower to pay charges and fees of the Bailee. The Bailee agrees to promptly notify the Lender if at any time any charges or fees owing from the Borrower become ninety
(90) days past due. The Bailee agrees that upon receipt of such notice the Lender, at its option, may (a) maintain the Property at the Premises for a period of up to ninety (90) days, without charge other than reasonable and customary
storage fees and charges accruing during such ninety (90) day period as may be mutually agreed to between the Bailee and the Lender, (b) enter the Premises during the Bailee’s normal business hours, upon notice to the Bailee (or at
such other mutually agreeable time as may be determined by the Lender and the Bailee) in order to remove the Property therefrom, without charge, other than accrued processing charges with respect to Property removed from the Premises by the Lender,
and/or (c) require the Bailee to process or complete processing of any Property then or thereafter delivered to the Bailee, at a price mutually agreed to by the Lender and the Bailee. In any such event, the Bailee agrees to cooperate with the
Lender and not to hinder the Lender’s actions in enforcing its remedies with respect to the Property or any other Collateral (as defined in the Loan Agreement). 

7. Delivery of Proceeds to the Lender and the Lenders. If from time to time the Bailee ever comes into possession or control of any
identifiable cash proceeds arising from the sale of any of the Property, such proceeds shall be held by the Bailee in trust for the benefit of the Lender, and the same shall be paid and delivered to the Lender promptly after receipt by the Bailee.

 8. Notice of Default; Notice of Termination. Prior to the Bailee’s taking any action to terminate the agreements between the
Bailee and the Borrower (the “Underlying Agreements”) or to remove the Property (other than in accordance with the instructions of the Borrower in the ordinary course of business prior to the Bailee’s receipt of a Notice) for breach
of or default under any Underlying Agreement, the Bailee shall give the Lender not less than thirty (30) days’ written notice of such action at the address set forth below, and a reasonable opportunity to preserve, protect, liquidate, or
remove any Collateral from the Premises (but in no event to exceed the time period set forth in paragraph 6 hereof) and, if the Lender so elects, to cure such breach of or default under the Underlying Agreements. Notwithstanding the provisions of
this paragraph, the Lender shall have no obligation to cure any such breach or default. The cure of any such breach or default by the Lender on any one occasion shall not obligate the Lender to cure any other breach or default or to cure such breach
or default on any other occasion. 
 9. Reliance by the Lender. This Agreement is for the benefit of the Lender. 

10. Notices. All notices, consents, requests, approvals, demands, or other communication by any party to this Agreement must be in
writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt
requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or
(d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. 

 

			
	Lender:		ATEL VENTURES, INC.
			600 Montgomery Street, 9th. Floor
			San Francisco, CA 94111
			Attention: Kay B. Jones
			Fax: (415) 616-5555
			E-Mail: kjones@atel.com
			Telephone: (415) 616-3440
		
	Bailee:		«INSERT BAILEE NAME» 
			[                                      
                  ]
			[                                      
                  ]
			Attention:
                                        

			Fax:
                                         
         
			E-Mail:
                                         
   
			Telephone:
                                      
		
	Borrower:		CYTOMX THERAPEUTICS, INC.
		
			343 Oyster Point Blvd, Suite 100
			South San Francisco, CA 94080-1913
			Attn: Fletcher Payne, CFO
			Fax: (650) 351-0353
			E-Mail: fpayne@cytomx.com
			Telephone: 925-998-9845

 Any party hereto shall have the right to change its address for notice hereunder to any other location within the
continental United States by notice to the other parties hereto of such new address at least thirty (30) days prior to the effective date of such new address. 

11. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW. THIS AGREEMENT SHALL BE BINDING UPON THE BAILEE AND ITS SUCCESSORS AND ASSIGNS AND INURE TO THE BENEFIT OF THE LENDER AND ITS SUCCESSORS AND ASSIGNS. 

12. This Agreement may be executed in counterparts all of which together shall constitute the original. 

[signature pages follow] 

 IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement as of the date above
first written. 
  

			
	«INSERT BAILEE NAME», as Bailee
		
	By:		  

		
	Name:		  

		
	Title:		  

	
	ATEL VENTURES, INC., as Lender
		
	By:		  

		
	Name:		  

		
	Title:		  

	
	CYTOMX THERAPEUTICS, INC., as Borrower
		
	By:		  

		
	Name:		  

		
	Title:		  

  
 13

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