Document:

License Agreement, Kirin Brewery Co. Ltd.

 Exhibit 10.22 
 Confidential Materials omitted and filed separately with the 
 Securities and Exchange Commission. Asterisks denote omissions. 
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 LICENSE AGREEMENT 
 This LICENSE AGREEMENT (this
“Agreement”) is entered into as of December 21, 2006 (the “Effective Date”) by and between KIRIN BREWERY CO., LTD, a Japanese corporation with
its principal offices at 10-1, Shinkawa 2-chome, Chuo-ku, Tokyo, 104-8288 Japan (“Kirin”), and AVEO PHARMACEUTICALS, INC., a Delaware corporation with its principal
offices at 75 Sidney Street, Cambridge, MA 02139 United States (“Aveo”). Kirin and Aveo may be referred to herein each, individually, as a “Party” or, collectively, as the “Parties.” 
 RECITALS 
 WHEREAS, Kirin has developed a proprietary compound that may be useful to treat cancer by inhibiting angiogenesis, and is currently sponsoring a phase I clinical trial of this compound in cancer patients
in Europe; 
 WHEREAS, Aveo focuses in the oncology area and has expertise in clinical
development of oncology drug candidates, as well as a platform technology for discovering the genetic profiles of tumors that do and do not respond to particular therapies; 
 WHEREAs, Aveo is interested in obtaining exclusive rights to further develop, manufacture and
commercialize Kirin’s compound (as well as a related back-up compound) in all territories outside of Asia (the Aveo Territory, more particularly defined below); and 
 WHEREAS, Kirin is willing to license Aveo for the Aveo Territory for the development, manufacture and commercialization of certain products based on such compounds,
while retaining all rights to do so for the Kirin Territory (defined below), all as more particularly set forth below. 
 NOW, THEREFORE, in consideration of the foregoing premises and the covenants and obligations set forth in this Agreement, the Parties agree as follows: 
 ARTICLE 1 
 DEFINITIONS 
 The initially capitalized terms below in this Article have the following meanings as used
throughout this Agreement. Derivative forms of these defined terms shall be interpreted accordingly. 
 1.1
“Active Contract” has the meaning given in Section 3.13. 
 1.2 “Affiliate”
means, with respect to a Party, any entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such Party. For this purpose, “control” means the ownership of fifty
percent (50%) or more of the voting securities entitled to elect the directors or management of the entity, or the actual power to elect or direct the management or policies of the entity, whether by law, contract or otherwise. 

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 1.3 “Annual Regulatory Report” has the meaning given in
Section 2.5. 
 1.4 “Aveo Annual Development Plan” means, for each calendar year, Aveo’s then
most current written plan that describes Aveo’s clinical development plans for Licensed Product activities for that year, and covers other subject matter as called for in Section 2.3. The Aveo Annual Development Plan shall be established
each year and may be modified during the course of any year as provided in Section 2.3. 
 1.5 “Aveo Overall
Clinical Development Plan” means a high-level, long-term plan for the clinical and regulatory development of Licensed Compounds, Licensed Products and Licensed Product Biomarkers by Aveo (and those deriving rights from Aveo, including its
Affiliates and Sublicensees) through their Marketing Approval in the Major Market Countries and the other countries of the Aveo Territory. The first Aveo Overall Clinical Development Plan has been exchanged between the Parties prior to the Effective
Date. The Aveo Overall Clinical Development Plan may be updated pursuant to Section 2.4, subject to the requirements of Section 2.4(b) regarding certain fundamental changes to the Aveo Overall Clinical Development Plan that would require
Kirin’s consent. 
 1.6 “Aveo Know-How” means all Know-How that Aveo develops or owns or Controls
during the Term that relates in any way to any Licensed Product, Licensed Compound, Licensed Product Biomarker or method of making, using (including methods of administration) or testing of (or in the case of testing, of or for the presence of) any
of the foregoing (or any article necessary or useful to practice (including those present during the practice of) any such method). The Aveo Know-How includes all clinical data generated in clinical trials of Licensed Product by Aveo or its
Affiliates. 
 1.7 “Aveo Patents” means all Patents that claim Aveo Product Inventions and all other
Patents Controlled by Aveo during the Term that claim or otherwise cover any Licensed Compound, Licensed Product, Licensed Product Biomarker, or method of making, using (including methods of administration) or testing of (or in the case of testing,
of or for the presence of) any of the foregoing (or any article necessary or useful to practice (including those present during the practice of) any such method). 
 1.8 “Aveo Product Inventions” means any and all Product Inventions for which Aveo (or its Affiliate) has (meaning that it employs or has engaged as a consultant) at least one
(1) person who would be a properly named inventor on the U.S. Patent claiming such invention, that were invented in the course of Aveo’s or its Affiliate’s Licensed Product activities during the Term, other than any Joint Product
Inventions. For purposes of this definition, all inventions conceived or reduced to practice under any Prior Agreement by Aveo (including under the Materials Transfer Agreement referred to in clause (ii) of the definition of “Prior
Agreements,” (which in accordance with Section 12.2 is being superseded with respect to ownership of and rights to each “Invention” as such term is defined in Section 7 of that agreement)) shall be deemed to have been
conceived or reduced to practice pursuant to Aveo’s Licensed Product activities during the Term. Inventorship for purposes of this definition shall be determined in accordance with United States patent law. 
  

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 1.9 “Aveo Product IP” means the Aveo Know-How; the Aveo Product
Inventions; the Aveo Patents and Aveo’s interest in the Joint Product Inventions and Jointly Owned Product Patents. 
 1.10 “Aveo Territory” means all countries in the world — other than those of the Kirin Territory — together with the territories and possessions of such countries that are not part of the Kirin Territory.

 1.11 “Bulk Drug Substance” means the compound that Kirin refers to as of the Effective Date as
KRN951, in bulk form, manufactured in accordance with Japanese and European Union cGMPs for clinical materials, which if appropriately formulated and finished, would constitute the Licensed Product. 
 1.12 “cGMP” means, as of a given point in time and regulatory jurisdiction, then-current Good Manufacturing
Practices in accordance with the regulations and standards required by the Regulatory Authority for such jurisdiction. 
 1.13 “Clinical Regulatory Filings” means data, filings or materials relating to Licensed Compounds, Licensed Products or Licensed Product Biomarkers submitted to the applicable Regulatory Authorities, including
(a) data derived from clinical trials, and (b) data, filings or materials relating to or contained in any CMC or DMF. 
 1.14 “CMC” means the Chemistry, Manufacturing and Controls portion of any Licensed Product NDA in the United States, or equivalent or similar portion of a Marketing Approval Application or Marketing Approval in
another regulatory jurisdiction. 
 1.15 “Combination Product” has the meaning given in
Section 5.8. 
 1.16 “Commercial Plan” has the meaning given in Section 2.2(e). 
 1.17 “Commercially Reasonable Efforts” means the efforts required in order to carry out a task in a diligent and
sustained manner without undue interruption, pause or delay; which level is at least commensurate with the level of efforts that a biopharmaceutical company would devote to a product of similar potential and having similar commercial and scientific
advantages and disadvantages resulting from the company’s own research efforts (i.e., explicitly ignoring the royalty, milestone and all other payments due Kirin under this Agreement), taking into account its safety and efficacy, the
competitiveness of alternative products, its proprietary position, pricing, reimbursement and other market-specific factors, and all other relevant factors. Commercially Reasonable Efforts requires (without limitation) that the Party exerting such
efforts (i) promptly assign responsibility for its obligations to specific employee(s) who are held accountable for progress and monitor such progress, on an ongoing basis, (ii) set and continue to seek to achieve specific and meaningful
objectives for carrying out such obligations, and (iii) make and implement decisions and allocate resources designed to advance progress with respect to such objectives, in each case in a commercially reasonable manner. 
 1.18 “[**]” has the meaning given in Section 2.4(b)(iii). 
  

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 1.19 “Competing Product” means any pharmaceutical product or
product candidate that: (i) contains (a) [**]. For the purpose of this Competing Product definition, [**] means any composition of matter [**]. 
 1.20 “Confidential Information” means all information received by either Party from the other Party or disclosed by either Party to the other Party pursuant to this Agreement, or
pursuant to or that is otherwise subject to any Prior Agreement, in each case, which information is disclosed under circumstances reasonably indicating that it is confidential. Notwithstanding the foregoing, Confidential Information shall not
include information that, in each case as demonstrated by competent written documentation: 
 (a) is publicly disclosed
and made generally available to the public by the disclosing Party, either before or after it becomes known to the receiving Party; 
 (b) was known to the receiving Party, without obligation to keep it confidential, prior to the date of disclosure by the disclosing Party; 
 (c) is subsequently disclosed to the receiving Party by a Third Party lawfully in possession thereof without obligation to keep it confidential and without a breach of such Third Party’s
obligations of confidentiality; 
 (d) has been publicly disclosed or made generally available to the public other than
through any act or omission of the receiving Party in breach of this Agreement; or 
 (e) has been independently
developed by the receiving Party without the aid, application or use of the disclosing Party’s Confidential Information (the competent written proof of which must be contemporaneous with such independent development). 
 1.21 “Control” means, with respect to any Know-How, Patent Right or other intellectual property right, possession by
a Party, directly or through an Affiliate controlled by such Party (whether by ownership or license (other than pursuant to this Agreement)) of the ability to grant a license or sublicense as provided for herein without violating the terms of any
pre-existing written agreement with any Third Party. Any Patent, Know-How or other intellectual property right that is licensed or acquired by a Party following the Effective Date and that would otherwise be considered to be under the Control of a
Party shall not be deemed to be under the Control of such Party if the application of such definition in the context of any licenses or sublicenses granted to the other Party under this Agreement would require the granting Party to make any
additional payments or royalties to a Third Party in connection with such license or sublicense grants, unless the other Party agrees to pay the additional payments or royalties to the Third Party. 
 1.22 “Current KRN951 Clinical Study” means the Phase I Clinical Study being conducted by Kirin as of the Effective
Date entitled “An Open-label, Non-randomized Dose Escalation Study of KRN951 Administered Orally to Patients with Solid Tumors”, having Protocol Number KRN951/03-B01. 
 1.23 “Current Manufacturer” means [**], an entity organized under the laws of Japan. As of the Effective Date, the
Current Manufacturer has an address for notice purposes at [**]. The Current Manufacturer may update its notice address for purposes of its rights under this Agreement, by written notice to Aveo given in accordance with Section 12.5.

  

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 1.24 “Development Committee” has the meaning given in
Section 2.2(a). 
 1.25 “Diligence Plan” has the meaning given such phrase in Section 3.4.

 1.26 “Distributor” means any non-Sublicensee Third Party (i.e., any Third Party that is not granted a
Sublicense) that has been granted the right to distribute or resell in the Aveo Territory any quantities of Licensed Product, which quantities are provided by Aveo or its Affiliates. 
 1.27 “DMF” means a Drug Master File in the United States or equivalent filing or filing serving a similar purpose in
another regulatory jurisdiction. 
 1.28 “EMEA” has the meaning given such term within the definition of
Regulatory Authority. 
 1.29 “FDA” means the United States Food and Drug Administration or any
successor entity. 
 1.30 “Field” means the diagnosis, prevention, and treatment of any and all diseases
and conditions in humans. 
 1.31 “FTE” means the equivalent of one (1) person working full time
for one (1) year (whether provided through the working time of one (1) individual or more individuals). 
 1.32
“GAAP” means, with respect to Aveo, then-current applicable Generally Accepted Accounting Principles in the United States, consistently applied, and with respect to Kirin, similar Japanese principles and procedures, consistently
applied. 
 1.33 “IND” means an Investigational New Drug application (as defined in the U.S. Federal
Food, Drug and Cosmetics Act and the regulations promulgated thereunder (21 C.F.R. §312) in the United States or a comparable filing in any other jurisdiction (i.e., a filing with a Regulatory Authority that must be made prior to commencing
clinical testing in humans), in each case with respect to a Licensed Product. 
 1.34 “Joint Inventions”
means any and all inventions for which Kirin (or its Affiliate) and Aveo (or its Affiliate) each have (meaning that each employs or has engaged as a consultant) at least one (1) person who would be a properly named inventor on the U.S. patent
claiming such invention. Inventorship for purposes of this definition shall be determined in accordance with United States patent law. 
 1.35 “Joint Other Invention Patents” means all Patents claiming or disclosing Joint Other Inventions. 
 1.36 “Joint Other Inventions” means any and all Joint Inventions that are not Product Inventions. 
  

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 1.37 “Joint Product Inventions” means any and all Joint
Inventions that are Product Inventions. 
 1.38 “Jointly Owned Product Patents” means all Patents that
claim Joint Product Inventions. 
 1.39 “Kirin Annual Development Plan” means, for each calendar year,
Kirin’s then most current written plan that describes Kirin’s clinical development plans for Licensed Product activities for that year, and covers other subject matter as called for in Section 2.3(e). The Kirin Annual Development Plan
shall be established each year and may be modified during the course of any year as provided in Section 2.3(e). 
 1.40
“Kirin Product Inventions” means any and all Product Inventions for which Kirin (or its Affiliate) has (meaning that it employs or has engaged as a consultant) at least one (1) person who would be a properly named inventor
on the U.S. Patent claiming such Product Invention, that were invented in the course of Kirin’s (or its Affiliate’s) Licensed Product activities during the Term, other than any Joint Product Inventions. Inventorship for purposes of this
definition shall be determined in accordance with United States patent law. 
 1.41 “Kirin Product Invention
Patents” means all Patents claiming or disclosing Kirin Product Inventions. 
 1.42 “Kirin
Territory” means all the countries in Asia, and their territories and possessions. The countries in Asia as defined by this Agreement are listed in Exhibit A. 
 1.43 “Know-How” means (i) all information, techniques, data, inventions, practices, methods, processes, knowledge, know-how, skill, experience, technical data, test results
(including pharmacological, toxicological, clinical, analytical and quality control data, regulatory submissions, correspondence and communications, and marketing, distribution, pricing, cost, manufacturing, patent and legal data or descriptions),
and (ii) compositions of matter, assays and other materials. 
 1.44 “Licensed Compounds” means
(i) the compound that Kirin refers to as of the Effective Date as KRN951 (the structure of which has previously been disclosed in writing to Aveo); (ii) the compound that Kirin refers to as of the Effective Date as KRN633 (the structure of
which has previously been disclosed in writing to Aveo), and (iii) any and all salts, stereoisomers, racemates, tautomers, polymorphs, complexes, chelates, crystalline and amorphous forms, prodrugs, solvates (including hydrates), metabolites
and metabolic precursors (whether active or inactive) thereof. 
 1.45 “Licensed Know-How” means all
Know-How that (i) is owned or Controlled by Kirin as of the Effective Date of this Agreement or thereafter during the Term, and (ii) relates in any way to any Licensed Compound, Licensed Product, Licensed Product Biomarker or method of
making, using (including methods of administration) or testing (in the case of testing, of or for the presence of) any of the foregoing (or any article necessary or useful to practice any such method); but excluding: (a) general formulation
Know-How of Kirin not specific to any of the foregoing and where such general formulation Know-How is not incorporated into the Licensed Product formulation that is in clinical testing as of the Effective Date, and (b) any in-licensed Know-How
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would owe a Third Party consideration if Kirin grants rights thereunder to Aveo (unless Aveo agrees in writing to pay such consideration). The items listed in Exhibit F, are included in the
Licensed Know-How. Kirin will provide instructions to its contractors identified in such Exhibit for them to disclose such items of Know-How to Aveo within ninety (90) days after the Effective Date, and shall take all additional actions
reasonably necessary to facilitate such transfer (other than payment of monies or relinquishment of other rights of Kirin), but shall not be responsible to directly transfer to or teach Aveo items of Licensed Know-How in the possession of these
contractors. If required by any such contractor, Aveo will pay the reasonable costs incurred by such contractor in transferring such Licensed Know-How. The Licensed Know-How disclosed by the contractors instead of directly by Kirin shall
nevertheless be deemed disclosed by Kirin under this Agreement for purposes of the “Confidential Information” definition. 
 1.46 “Licensed Patents” means the Listed Kirin Patents, the Kirin Product Invention Patents, and Kirin’s interest in the Jointly Owned Product Patents. 
 1.47 “Licensed Product Biomarkers” means any and all biomarkers (including metabolite, DNA, RNA and protein
profiles) discovered or developed by or on behalf of Aveo or Kirin that (a) are for use with (including use in clinical testing of or use in any decision whether to prescribe), or (b) relate to, are associated with or are correlated with
patient populations and/or tumors that do or do not respond to treatment with, in the case of each of (a) and (b), any one (1) or more Licensed Product(s). Such a biomarker is a Licensed Product Biomarker regardless of its stage of
discovery, development, advancement or commercialization, and whether or not the biomarker is already validated or recognized by any Regulatory Authority. Such biomarkers “discovered or developed by or on behalf of Aveo or Kirin” include
those discovered or developed by Aveo’s or Kirin’s respective Affiliates, Sublicensees or contractors. To avoid any doubt, as used throughout this Agreement, “methods of testing for the presence of any Licensed Product
Biomarkers” includes assays for the presence of such Licensed Product Biomarkers, including any that may be employed in either Party’s clinical testing of any Licensed Product or that may be referred to in the labeling for any Licensed
Product in connection with Marketing Approval thereof anywhere in the world, and any items necessary or useful to conduct such assays in the same manner as in such clinical testing or as referred to in such Marketing Approvals. 
 1.48 “Licensed Products” means any and all pharmaceutical compositions that contain one (1) or more Licensed
Compound(s). 
 1.49 “Licensed Technology” means both Licensed Patents and Licensed Know-How.

 1.50 “Listed Kirin Patents” means (a) all patents and patent applications listed in Exhibit B;
(b) all patent applications (including provisional and utility applications) claiming priority to or common priority with or based on any of the foregoing, including all divisionals, continuations, continuations-in-part, patents of addition and
substitutions of any of the foregoing; (c) all patents issuing on any of the foregoing, and all reissues, reexaminations, renewals and extensions of any of the foregoing, (d) all counterparts to the foregoing in other countries; and
(e) all Supplementary Protection Certificates, restoration of patent term and other similar rights of Kirin and its Affiliates based on any of the foregoing. 
  

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 1.51 “Major Market Countries” means the United States, Great
Britain, France, Italy, Spain and Germany. 
 1.52 “Marketing Approval” means, with respect to a
Licensed Product, all approvals (including supplements, amendments, pre- and post-approvals), licenses, registrations and authorizations of any national, supra-national (e.g., the European Commission or the Council of the European Union), regional,
state or local regulatory agency, department, bureau, commission, council or other governmental authority necessary for the manufacture, distribution, use or sale of such Licensed Product in a regulatory jurisdiction, including, in the case of a
country in the Territory where Pricing Approval is necessary for the sale of a Licensed Product, the granting of Pricing Approval in such country. As used in this definition of Marketing Approval, “Pricing Approval” means the
approval or governmental decision establishing a price for a Licensed Product that can be charged to consumers and will be reimbursed by the applicable government authority(ies) in such country. 
 1.53 “Marketing Approval Application” means an NDA or a comparable filing or filing serving to apply for Marketing
Approval in any other jurisdiction, in each case with respect to a Licensed Product. 
 1.54 “NDA” means
a New Drug Application as defined in the United States Food Drug and Cosmetics Act and the regulations promulgated thereunder (21 C.F.R. §314). 
 1.55 “Net Sales” means the gross amount invoiced by Aveo or its Affiliates (and to be clear, not sales by Sublicensees) for the sale of Licensed Products in the Aveo Territory,
less any of the following applicable deductions related to such sale and, except in the case of (e), included in the invoiced amounts: (a) normal, customary trade discounts (including volume discounts), credits, chargebacks, reductions, and
rebates, and allowances and adjustments for rejections, recalls, outdated products, returns, in each event whether voluntary or required; (b) freight, shipping, insurance, sales, use, excise, value-added and similar customs, taxes, tariffs or
duties imposed on such sale, transfer, or other disposition; (c) credits actually given or allowances actually made for wastage replacement, Medicare/Medicaid rebates, indigent patient and similar programs to provide Licensed Product on a
no-profit or at-cost basis, to the extent actually deducted from the gross amount invoiced and either not required to be paid by, or refunded to, the customer or other payor; (d) amounts repaid or credits taken by reason of rejections, defects
or returns or because of retroactive price reductions (to be clear, other than retroactive price reductions granted as part of any collections efforts or to resolve uncollectible accounts) or due to recalls or government laws or regulations
requiring rebates; (e) an allowance for bad debt and uncollectible accounts, not to exceed [**] percent ([**]%) of the gross amount invoiced and not to exceed the amount of the allowance actually used by the invoicing entity to account for bad
debt and uncollectible accounts with respect to such invoiced amounts to prepare the invoicing entity’s audited financial statements for financial reporting purposes. Even if there is overlap between any of deductions (a) - (d), each individual
item shall only be deducted once in each Net Sales calculation. Bad debt and uncollectible accounts shall be addressed solely by the deduction of the allowance provided for in clause (e) above in this paragraph, and any write-off of bad debt or
uncollectible accounts shall not be deemed encompassed in any of deductions (a) - (d). Net Sales calculated as described above shall be adjusted for Combination Products, as provided in Section 5.8. Net Sales shall not include amounts for any
Licensed Product furnished to a Third Party for which payment is not intended to be and is not received, such as Licensed Products used in clinical

  

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trials or Licensed Products distributed as promotional or free goods; provided that the amounts of such Licensed Products so made available are reasonable for the intended purpose and
within customary amounts; and provided, further, that this sentence is not intended to address accounting for quantities of Licensed Products associated with bad debt or uncollectible accounts (which, to be clear, shall be dealt with only
under clause (e) above). 
 Net Sales excludes amounts from sales or other dispositions of Licensed Product between Aveo
and any of its Affiliates or Sublicensees, solely to the extent that such entity purchasing a Licensed Product resells such Licensed Product to a Third Party and such resale is included in Net Sales or such sale forms the basis for (and is included
in) Sublicensing Revenue. 
 Net Sales includes sales to any Distributor. If, in addition to or in lieu of a transfer price paid
for quantities of Licensed Product supplied, any Distributor provides consideration to Aveo or its Affiliates or Sublicensees in connection with the grant of rights to distribute any Licensed Product, then such consideration shall be included in the
calculation of Net Sales in the quarter in which it is received by Aveo, its Affiliates or Sublicensees. 
 Net Sales amounts
shall be determined from the books and records of Aveo and its Affiliates maintained in accordance with GAAP consistently applied, and such amounts shall be calculated using the same accounting principles used for other Aveo (or Aveo Affiliate)
products for financial reporting purposes. 
 1.56 “Other Licensee(s)” means any Affiliate or Third
Party to whom Kirin or any of its Affiliates has granted a license or sublicense to research, develop, manufacture or commercialize a Licensed Compound, Licensed Product or Licensed Product Biomarker in the Kirin Territory. For clarity, Other
Licensee includes any Affiliate or Third Party to whom Kirin has granted a sublicense under the licenses granted to Kirin pursuant to Section 4.6. 
 1.57 “Party” and “Parties” have the meanings given such terms in the opening paragraph of this Agreement. 
 1.58 “Patent” means any patent application or patent anywhere in the world, including all of the following kinds:
provisional, utility, divisional, continuation, continuation-in-part, and substitution applications; and utility, re-issue, re-examination, renewal and extended patents, and patents of addition, and any Supplementary Protection Certificates
restoration of patent terms and other similar rights. 
 1.59 “Phase I Trial” means, with respect to a
Licensed Product, a clinical trial on sufficient numbers of normal, human volunteers and/or patients that is designed to establish that such Licensed Product is safe for its intended use, and to support its continued testing in Phase II Trials.

 1.60 “Phase II Trial” means, with respect to a Licensed Product, a clinical trial on sufficient
numbers of human patients that is designed to establish the safety and biological activity of such Licensed Product for its intended use, and to define warnings, precautions and adverse reactions that are associated with such Licensed Product in the
dosage range to be prescribed or that may be used to find or determine such dosage, as described as a phase II clinical trial in 21 C.F.R. §312.21(b), or similar clinical study in a country other than the United States. 
  

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 1.61 “Phase III Trial” means, with respect to a Licensed
Product, a clinical trial on sufficient numbers of human patients that is designed to establish that such Licensed Product is safe and efficacious for its intended use, and to define warnings, precautions and adverse reactions that are associated
with such Licensed Product in the dosage range to be prescribed, and more directly (than a Phase II Trial) supporting Marketing Approval or label expansion of such Licensed Product, as described as a phase III clinical trial in 21 C.F.R.
§312.21(c), or similar clinical study in a country other than the United States. 
 1.62 “Pivotal Clinical
Trial” means any clinical trial that is officially designated as a phase III clinical trial with the Regulatory Authority having jurisdiction, or that (regardless of whether denominated “phase II” or “phase III” or
otherwise denominated) is intended to serve to gather any of the pivotal data that (if favorable) would support Marketing Approval. 
 1.63 “Prior Agreements” means collectively: (i) that certain Confidential Information Agreement between the Parties dated August 22, 2005; (ii) that certain Material Transfer Agreement between the
Parties dated August 29, 2006; and (iii) that certain Memorandum of Understanding between the Parties dated October 6, 2006. 
 1.64 “Product Inventions” means any and all patentable inventions that constitute or relate in any way to (a) any Licensed Compound, Licensed Product, Licensed Product
Biomarker, (b) any method of making, using (including methods of administration) or testing (in the case of testing, of or for the presence of) any of the foregoing, and/or (c) any article necessary or useful to practice (including those
present during the practice of) any method referred to in clause (b). 
 1.65 “[**]” has the meaning
given in Section 2.4(b)(ii). 
 1.66 “Regulatory Authority” means any national (e.g., but without
limitation, the FDA), supra-national (e.g., but without limitation, the European Commission, the Council of the European Union, or the European Medicines Evaluation Agency (EMEA)), regional, state or local regulatory agency, department, bureau,
commission, council or other governmental entity in any jurisdiction of the world involved in the granting of Marketing Approval for pharmaceutical products or medical devices (including regulated diagnostics). 
 1.67 “Regulatory Exclusivity” means a government-granted right to exclude others from manufacturing, using or
marketing a pharmaceutical product, other than a right conferred solely by a Patent. 
 1.68 “[**]” has
the meaning given in Section 4.4(a). 
 1.69 “Safety Data” means adverse event information and
other information (if any) required by one (1) or more Regulatory Authorities to be reported to such Regulatory Authorities under applicable laws. 
  

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 1.70 “Specifications” means the list of tests, references to
analytical procedures and appropriate acceptance criteria to which Bulk Drug Substance shall conform to be considered acceptable for use in development work. The Specifications for the Bulk Drug Substance are set forth on Exhibit D. 
 1.71 “Sublicensee” means a Third Party to whom Aveo (or its Affiliate) has granted a sublicense under any Licensed
Technology. 
 1.72 “Sublicensing Revenue” means all consideration received by Aveo or any of its
Affiliates from (x) Sublicensees or (y) any Sublicensees of Aveo’s and its Affiliates’ direct Sublicensees, in either case in connection with rights relating to Licensed Compounds and/or Licensed Products. Sublicensing Revenue
includes upfront payments, milestone payments, research and development funding (subject to (b), below), royalties, and (subject to (a), below) equity investments (whether in the form of stock purchase, options, warrants or other forms) paid
directly or indirectly to Aveo (or any of its Affiliates) from (or on behalf of) any Sublicensees (and/or sub-Sublicensees) for Licensed Products. Notwithstanding the foregoing: 
 (a) Sublicensing Revenue will exclude amounts paid to Aveo as an equity investment in Aveo (whether in the form of stock purchase,
options, warrants or other forms) to the extent that the amount of such investment (calculated in case of options, warrants and the like as if exercised and including all amounts due on exercise) is equal to or less than [**] percent ([**]%) of the
total value of consideration from the particular Sublicensee and does not involve any premium greater than [**] percent ([**]%) over fair market value of the equity investment (and if the investment is less than such [**] percent ([**]%) limit, only
the premium greater than [**] percent ([**]%) over fair market value is included Sublicensing Revenues; to the extent such investment exceeds the [**] percent ([**]%) limit, [**] percent ([**]%) of the equity investment exceeding the [**] percent
([**]%) limit will be included in Sublicensing Revenue (regardless of whether representing fair market value or premium)); and 
 (b) research and development funding to fund activities directly in furtherance of Licensed Compound, Licensed Product and/or Licensed Product Biomarker clinical, regulatory and manufacturing process development in order ultimately
to seek Marketing Approval therefor (including pre-clinical studies to support the filing of an IND and clinical studies) is excluded from Sublicensing Revenue to the extent that such funding is equal to or less than [**] percent ([**]%) of the
total value of consideration from the particular Sublicensee, but will be included in Sublicensing Revenue to the full extent exceeding this [**] percent ([**]%) limit or not funding activities in such direct furtherance as described above in this
subsection (b). 
 Solely for purposes of determining the limits of (a) and (b), the total value of consideration from the
Sublicensee shall be deemed to be the un-discounted sum of all possible upfront payments, milestone payments, research and development funding, equity investments (whether in the form of stock purchase, option, warrant or other form and calculated
as regards options, warrants and other similar rights as if exercised and including all amounts due on exercise) and other payments due under or in connection with the Sublicense, excluding only royalties calculated as a percentage of net sales. The
probability and timing of payment and receipt of the payments included in the “total value of consideration from the Sublicensee” for purposes of (a) and (b) shall not be taken into consideration. Instead, the calculation shall
be made employing the assumption that all payments provided for in or in connection with the Sublicense will be made, and without applying any discount in relation to the time value of money. 
  

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 To avoid any doubt “consideration received by Aveo or any of its Affiliates from
Sublicensees in connection with rights relating to Licensed Compounds and/or Licensed Products” extends to and includes consideration that is paid on the basis of rights (including covenants not to sue) under any intellectual property relating
to any Licensed Product, even if not owned by Kirin (for example but without limitation, the Aveo Patents) and even if Aveo structures its grant of rights to the Sublicensee so that the grant of rights under the Licensed Patents formally occurs in a
separate written agreement from the grant of rights under other intellectual property of Aveo relating to the Licensed Compounds, Licensed Products and/or any Licensed Product Biomarker (including that so relate via any method of use thereof). The
Parties have negotiated the percentage for Sublicensing Revenue sharing set forth in Section 5.3 on the basis that all consideration from the Sublicensee will be included in the calculation. The foregoing provisions of this Section 1.72
notwithstanding, Sublicensing Revenue shall not include consideration received by Aveo in connection with any grant of rights relating to Licensed Product Biomarkers from entities that do not (themselves or via any affiliate(s)) benefit from the
grant of any rights to or under Licensed Compounds, Licensed Products and/or intellectual property associated with any of the foregoing (including via their manufacture or use). 
 1.73 “Term” has the meaning given in Section 10.1. 
 1.74 “Territory” means the Kirin Territory or the Aveo Territory. 
 1.75 “Third Party” means any person or entity other than a Party or an Affiliate of a Party. 
 1.76 “Transition Date” has the meaning given in Section 9.4(b). 
 1.77 “Valid Claim” means (i) a claim of an issued and unexpired patent within the Licensed Patents which has
not been found to be unpatentable, invalid or unenforceable by a court or other authority having jurisdiction, from which decision no appeal is taken or can be taken; and (ii) a claim of a pending application within the Licensed Patents that
has not been finally abandoned or finally rejected and which has been pending for no more than seven (7) years. (For clarity, a claim of the Licensed Patents that ceases to be a Valid Claim because it has been pending too long, but subsequently
issues and is otherwise described by clause (i) of the foregoing sentence shall again be considered to be a Valid Claim once it issues. The same principle shall apply in similar circumstances such as if, for example (but without limitation), a
final rejection of a claim is overcome.) 
 ARTICLE 2 
 OVERVIEW; MANAGEMENT; INFORMATION SHARING 
 2.1
Overview. A first Licensed Product is in Phase I Trials sponsored by Kirin as of the Effective Date. Beyond this ongoing trial, each Party will be researching, developing, manufacturing and commercializing Licensed Products and Licensed Product

  

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Biomarkers for its respective Territory. Each Party will have access to (a) all of the other Party’s (and such other Party’s Affiliates’, Sublicensees’ and Other
Licensees’) clinical data with respect to Licensed Compounds, Licensed Products and Licensed Product Biomarkers, and (b) all Clinical Regulatory Filings and Safety Data generated by such Party and its Affiliates, Sublicensees and Other
Licensees (as applicable), subject to and to the extent provided for in this Agreement, including under Sections 4.13 and 4.14. Aveo will be responsible for Licensed Product and Licensed Product Biomarker development for the Aveo Territory in
accordance with the Aveo Annual Development Plans that it will share in advance with Kirin, and which in turn must be consistent with the Aveo Overall Clinical Development Plan (as it exists on signing and as it may be updated pursuant to
Section 2.4). Aveo will be responsible for Licensed Product and Licensed Product Biomarker commercialization for the Aveo Territory in accordance with the annual, high-level Commercial Plans that Aveo will share with Kirin annually beginning in
the year prior to launch. Aveo is expected to bring to bear in these activities both Aveo’s expertise in clinical development of oncology drug candidates, and its platform Human Response PredictionTM technology (which may enable it to
identify Licensed Product Biomarkers that could aid in Licensed Product clinical testing; the Human Response PredictionTM technology is described on Aveo’s website as of the Effective Date). Kirin will have the sole right to conduct
Licensed Product development for the Kirin Territory, but, to be clear, has no diligence or other obligation to Aveo to conduct such activities. Kirin will share information with Aveo regarding any such activities by sharing with Aveo the Kirin
Annual Development Plan that is disclosed by Kirin and discussed by the Development Committee annually. While they may choose to work together on particular projects, the Parties will operate substantially independently in their activities for their
respective Territories, but will communicate regularly through the Development Committee, as further described below. 
 2.2
Development Committee. 
 (a) Committee Formation. Promptly after the execution of this Agreement, the Parties shall
form a committee composed of an equal number of representatives from each Party (but in any event no less than two (2) representatives from each Party) (the “Development Committee”). Each Party shall designate its Development
Committee representatives in writing to the other Party within thirty (30) days after the Effective Date. Each Party may change its representatives by written notice to the other Party. An alternate member designated by a Party may serve
temporarily in the absence of a permanent member of the Development Committee for such Party. 
 (b) Meetings and
Procedures. The Development Committee shall convene its first meeting within thirty (30) days after the Effective Date. Subsequently, Development Committee meetings shall be held at least every six (6) months until [**] after Marketing
Approval of the first Licensed Product in a Major Market Country and annually thereafter. The Development Committee may also meet more frequently as and to the extent requested by either Party, but no more frequently than quarterly, except that it
may meet more frequently if and as necessary in case of a dispute if required to perform its role for initial discussion of any disputes in accordance with Section 2.2(f). Other meetings may be held from time to time upon written request by
either Party (but not more frequently than quarterly except under exceptional circumstances). If not otherwise mutually agreed upon, a meeting must be held promptly after the requesting Party delivers the written request. Development Committee
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videoconference or teleconference, as the Parties may agree, except that at least one (1) meeting per year shall be in person. In-person meetings shall alternate between the Parties’
respective facilities. In addition to its Development Committee representatives, subject to Sections 2.3(d) and 2.3(e)(i), a Party may have other personnel attend Development Committee meetings with the approval of the Development Committee by
majority vote, with each Party having only one (1) vote. The Development Committee shall be chaired by a member of the Development Committee. Kirin and Aveo shall select the chairperson in alternating years, with Aveo choosing first. The
chairperson of the Development Committee shall be responsible for providing an agenda for each meeting and for preparing written minutes of each meeting for approval by each Party’s Development Committee representatives. Development Committee
meeting minutes for any particular meeting shall be effective only once signed by all of the representatives of the Party whose representative did not chair that meeting. 
 (c) Meeting Agendas. Each calendar year, agenda items for the first regularly scheduled Development Committee meeting after Aveo and Kirin provide the Aveo Annual Development Plan and the Kirin
Annual Development Plan shall include a discussion of the Aveo Annual Development Plan, the results Aveo has obtained in Licensed Product development in the year leading up to the meeting and Aveo’s plans for future development, as well as a
discussion of the Kirin Annual Development Plan, the results Kirin has obtained in Licensed Product development over the prior year, and Kirin’s plans for future development. In addition, (1) for every Development Committee meeting, the
agenda items shall include a presentation by each of Aveo and Kirin, respectively, as to: any modifications to the Aveo Annual Development Plan or the Kirin Annual Development Plan such Party has made since the previous meeting; the reasons for
those modifications; and progress in developing and commercializing Licensed Products; and (2) for at least one (1) Development Committee meeting per year shall include a report by each Party as to its new Aveo Product Inventions, Joint
Inventions and Kirin Product Inventions (as applicable) and progress in prosecution of Licensed Patents, Aveo Patents, Jointly Owned Product Patents and Joint Other Invention Patents for which such Party is responsible. For all other agenda items,
no later than fourteen (14) days in advance of each Development Committee meeting, each Party shall submit to the other Party any other proposed discussion items for the meeting agenda (except that under exigent circumstances requiring
Development Committee input, a Party may provide its proposed agenda items to the other Party in a shorter period of time in advance of the meeting). 
 (d) Functions and Powers. The Development Committee’s responsibilities shall include: 
 (i) encourage and facilitate ongoing cooperation and information exchange between the Parties; 
 (ii) discuss any coordination of activities that the Parties may desire; 
 (iii) provide a forum for discussion of the annual Aveo Annual Development Plan and the Kirin Annual Development Plan; it being clear that each Party shall be entitled to make all final decisions regarding development of Licensed
Products and Licensed Product Biomarkers in its respective Territory, except for the limitations placed on Aveo’s such decisions pursuant to Sections 2.3 and 2.4; 
  

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 (iv) monitor Aveo’s, and share information regarding each Party’s,
progress with respect to the development and commercialization of Licensed Products in their respective Territories, including regulatory strategy and material communications with Regulatory Authorities; 
 (v) receive regular updates from the Parties as to new Aveo Product Inventions, Joint Inventions and Kirin Product Inventions;

 (vi) provide a forum for exchange and discussion of each Party’s annual Commercial Plan beginning in the year
prior to anticipated first launch in such Party’s Territory; and 
 (vii) serve as a forum for informal dispute
resolution of issues that may arise in relation to activities engaged in pursuant to this Agreement, to the extent set forth in Section 2.2(f). 
 The Development Committee shall have no power to amend, modify or waive compliance with this Agreement. It shall have only such powers as are specifically set forth in this Agreement for the Development Committee to perform. The Development
Committee’s meeting minutes, regardless of whether signed by senior representatives of both Parties, shall not be deemed to amend, modify or waive compliance with this Agreement. 
 (e) Commercial Plan. Annually, beginning in the year prior to the first anticipated launch in a Party’s Territory (in the U.S.,
this year prior will be deemed to be the year in which the NDA is submitted), that Party shall provide to the other Party an annual written plan that summarizes the sales expectations, target audience, promotional and launch activities and overall
budget for Licensed Product in such country (the “Commercial Plan”). Once a Party begins to provide Commercial Plans, such Party will provide an updated version each year. The Development Committee shall have discussion of each
Party’s Commercial Plans as an agenda item to discuss once annually. The primary purpose of these discussions is to allow for an exchange of ideas and information so that each Party may learn from the commercial experiences and plans of the
other Party with Licensed Products. 
 (f) Actions and Conflict Resolution. If any dispute arises in relation to this
Agreement (including regarding its interpretation or a Party’s performance hereunder), then the Development Committee shall seek in good faith to resolve such dispute by having thorough discussions of it and attempting to reach consensus.
Unless the Development Committee unanimously decides to continue discussing the issue, it shall have only one (1) meeting to reach unanimous consensus on a resolution. If the Development Committee is unable to reach a resolution of the matter
(either after the first meeting or any mutually agreed continued discussions), then either Party may refer the matter for resolution under Article 11. 
  

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 2.3 Annual Development Plans. 
 (a) Plan and Content of the Aveo Annual Development Plan. Each calendar year, Aveo shall conduct Licensed Product development
activities for the Aveo Territory in accordance with the Aveo Annual Development Plan for the year that Aveo shares with Kirin in advance, as such plan may be modified during the course of the year. Aveo’s 2007 Aveo Annual Development Plan has
previously been provided to Kirin. Aveo shall annually present an updated Aveo Annual Development Plan to the Development Committee for discussion and feedback beginning in 2008. No later than thirty (30) days prior to the annual Development
Committee meeting, Aveo shall deliver the Aveo Annual Development Plan to Kirin. Aveo shall include in each Aveo Annual Development Plan: (1) a summary of its activities in the prior year (including all Aveo Product Inventions from that year;
clinical trials from which final reports are available; and Licensed Product Biomarkers discovered); and (2) its detailed plan for Licensed Product development in the next years (including clinical trials that will be commenced (including their
proposed protocols if already prepared); clinical trials that are expected in the next year to be completed; material meetings with Regulatory Agencies; and Marketing Approval Applications planned for filing. 
 (b) Presentation and Discussion of the Aveo Annual Development Plan. At the next regularly scheduled Development Committee meeting
after Aveo provides each Aveo Annual Development Plan, Aveo shall make a presentation to the Development Committee of the Aveo Annual Development Plan Aveo has provided, highlighting Aveo’s achievements in the past year, the reasons for
Aveo’s strategy and rationales for its plan going forward. The Development Committee shall discuss the Aveo Annual Development Plan and the information presented by Aveo. Aveo shall discuss openly and in good faith with Kirin any concerns,
questions or input Kirin may have. Aveo shall reasonably consider Kirin’s suggestions. If Aveo will not wish to incorporate Kirin’s suggestions, Aveo will explain the reasons why. After a full discussion (which may be completed at the
annual Development Committee meeting and may be completed through follow-up discussions reasonably requested by either Party), Aveo will be entitled to make the final decisions as to the Aveo Annual Development Plan with regard to Licensed Product
for the Aveo Territory (subject always to the requirements that (a) all Aveo Annual Development Plans must be consistent with the then-current Aveo Overall Clinical Development Plan; (b) Aveo must use Commercially Reasonable Efforts in
accordance with Section 3.3; and (c) Aveo must comply with the other terms and conditions of this Agreement). 
 (c) Effect of Aveo Annual Development Plan. Once each Aveo Annual Development Plan has been finalized by Aveo (in a manner consistent with Section 2.3(b)), Aveo shall provide a final copy of that year’s Aveo Annual
Development Plan to Kirin. Aveo shall do this within thirty (30) days after the Development Committee meeting at which such plan was discussed (unless Kirin continues to request additional follow-up discussions, in which case Aveo shall
circulate the final version of such plan promptly after such discussions are complete). Thereafter, Aveo shall conduct its Licensed Product development activities in accordance with such finalized Aveo Annual Development Plan. Aveo may update the
Aveo Annual Development Plan during the course of the year, but shall keep Kirin fully informed of all updates and the reasons for them through the Development Committee’s meetings. If, in between regularly scheduled Development Committee
meetings, Aveo wishes to make any change to the Aveo Annual Development Plan, Aveo shall promptly inform Kirin of such change, and be reasonably available to discuss such change at Kirin’s request. 
  

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 (d) Affiliate/Sublicensee Activities and Plans. Aveo shall include Aveo’s
Affiliates’ and Sublicensees’ accomplishments and activities (past and planned) in Aveo’s Aveo Annual Development Plans, as if such achievements and plans were Aveo’s. Upon Aveo’s reasonable request and Kirin’s written
consent (not to be unreasonably withheld), Aveo’s Sublicensees may attend the annual Development Committee meeting to discuss the Aveo Annual Development Plan. 
 (e) Kirin Annual Development Plan For Informational Purposes. 
 (i)
At such time as Kirin intends to commence development of Licensed Products in the Kirin Territory, Kirin shall prepare and provide to Aveo a Kirin Annual Development Plan covering the activities Kirin, its Affiliates or Other Licensees intend to
undertake with respect to the development of Licensed Products and/or Licensed Product Biomarkers in the Kirin Territory during the first annual period of such activities. Kirin shall include in each Kirin Annual Development Plan: (1) a summary
of its activities in the prior year (including all Kirin Product Inventions from that year; clinical trials from which final reports are available; and Licensed Product Biomarkers discovered); (2) its detailed plan for Licensed Product
development in the next years (including clinical trials that will be commenced (including their proposed protocols if already prepared); clinical trials that are expected in the next year to be completed; material meetings with Regulatory Agencies;
and Marketing Approval Applications planned for filing; and (3) its high-level summary of planned Licensed Product development and regulatory events and achievements for the following five (5) years. Kirin shall include Kirin’s
Affiliates’ and Other Licensees’ accomplishments and activities (past and planned) in Kirin’s annual Kirin Annual Development Plans, as if such achievements and plans were Kirin’s. Upon Kirin’s reasonable request and
Aveo’s written consent (not to be unreasonably withheld), Kirin’s Other Licensees may attend the annual Development Committee meeting to discuss the Kirin Annual Development Plan. 
 (ii) At the next regularly scheduled Development Committee meeting after Kirin provides each annual Kirin Annual Development Plan,
Kirin shall make a presentation to the Development Committee of the Kirin Annual Development Plan it has provided, highlighting Kirin’s achievements in the past year, the reasons for Kirin’s strategy and rationales for its plan going
forward. The Development Committee shall discuss the Kirin Annual Development Plan and the information presented by Kirin, and Kirin shall discuss openly and in good faith with Aveo any concerns, questions or input Aveo may have. Kirin will be
entitled to make the final decisions as to the Kirin Annual Development Plan with regard to Licensed Product and Licensed Product Biomarkers for the Kirin Territory (subject always to the requirement that Kirin comply with the other terms and
conditions of this Agreement). Once the annual Kirin Annual Development Plan has been finalized by Kirin (in a manner consistent with this Section 2.3(e)), Kirin shall provide a final copy of that year’s Kirin Annual Development Plan to
Aveo. 
 (iii) To avoid any doubt, even though the Kirin Annual Development Plans are presented to and discussed by the
Development Committee, Kirin has no diligence obligation or other responsibility to Aveo to conduct Licensed Compound, Licensed Product and/or Licensed Product Biomarker development and/or commercialization for the Kirin Territory, whatsoever.

  

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 2.4 Aveo Overall Clinical Development Plan. 
 (a) The initial Aveo Overall Clinical Development Plan has been shared between the Parties prior to the Effective Date. Annually, on
the same timeline that Aveo provides its Aveo Annual Development Plan for the year, if Aveo wishes to make any updates to the Aveo Overall Clinical Development Plan, it shall disclose them to Kirin with the Aveo Annual Development Plan, and the
Development Committee shall discuss the proposed changes in the same meeting when it discusses the Aveo Annual Development Plan. 
 (b) The process for discussion of any annual updates to the Aveo Overall Clinical Development Plan shall be as provided in the first five (5) sentences of Section 2.3(b), applied mutatis mutandis. After following
this discussion process, Aveo shall be entitled to make the final decisions about changes to the Aveo Overall Clinical Development Plan, subject to all of the following: 
 (i) The Aveo Overall Clinical Development Plan must always be consistent with the requirement that Aveo devote Commercially Reasonable Efforts as required by Section 3.3. 
 (ii) To change the primary lead indication for development in the Aveo Overall Clinical Development Plan (x) to be anything
other than [**]; in the case of each (x) and (y) Aveo must obtain Kirin’s advance written consent in Kirin’s sole discretion. 
 (iii) To change the Aveo Overall Clinical Development Plan to provide that there would [**] to be conducted in Licensed Product development by Aveo (beyond the Current KRN951 Clinical Study and any
additional arms or dosages as part of that study once transferred to Aveo), Aveo must obtain Kirin’s advance written consent in Kirin’s sole discretion. 
 (iv) The original Aveo Overall Clinical Development Plan contains timelines consistent with the diligence goals and timelines set forth in Exhibit E. To change any of the timelines to achieve the
development milestones as set forth in Exhibit E (as they may be updated in accordance with Section 3.4), or to change the timeline of the Aveo Overall Clinical Development Plan to be inconsistent with the timelines of Exhibit E (as they may be
updated in accordance with Section 3.4), Aveo must obtain Kirin’s advance written consent in Kirin’s sole discretion. 
 (v) To change the Aveo Overall Development Plan’s original timelines to commence the [**], or to provide that the [**] will not be carried through to completion for any reason other than an adverse event or legitimate safety
concern, Aveo must obtain Kirin’s advance written consent in Kirin’s sole discretion. 
 (vi) Modifications to
the milestones as set forth in Exhibit E are only permitted if resulting from factors beyond Aveo’s reasonable control (including scientific, technical, clinical and regulatory matters) and are due to delays that do not result from Aveo’s
failure to apply Commercially Reasonable Efforts as required in Section 3.3. 
  

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 The last two (2) sentences of Section 2.3(c) shall apply mutatis
mutandis to mid-year changes to the Aveo Overall Clinical Development Plan. 
 2.5 Sharing of Clinical and Other
Data. From time to time (but no less frequently than annually, in advance of the Development Committee meeting(s) at which the Aveo Annual Development Plan and the Kirin Annual Development Plan will be discussed), each Party shall disclose to
the other Party a written summary, in a form mutually agreed by the Parties, of clinical data with respect to Licensed Products and Licensed Product Biomarkers generated by or under authority of such Party since the last such disclosure. It is
understood that a Party’s obligation to provide summaries under this Section 2.5 can be fulfilled by providing a copy of the annual report describing clinical development with respect to Licensed Products and Licensed Product Biomarkers
conducted by or on behalf of such Party, that such Party (or others acting under its authority, including Sublicensees and Other Licensees) provides to Regulatory Authorities in its Territory (each an “Annual Regulatory Report”).
Upon the request of either Party, the other Party shall provide prompt and complete access to and the right to use for purposes of the activities for which such requesting Party is licensed hereunder (in Aveo’s case in Section 4.1; and in
Kirin’s case, in Section 4.5) any Clinical Regulatory Filings and Safety Data generated by such Party, its Affiliates, its Sublicensees and its Other Licensees; provided that in any such case the requesting Party provides notice to
the other Party reasonably in advance and reimburses the other Party for any reasonably incurred costs of satisfying the request. (To be clear, this regards costs of providing access, not costs of generating the clinical data.) Each Party must
include its Sublicensees’ Clinical Regulatory Filings data (in the case of Aveo) and its Other Licensees’ Clinical Regulatory Filings data (in the case of Kirin) in such Party’s Annual Regulatory Reports (or cause the Sublicensee or
Other Licensee to provide such a report to Kirin or Aveo, respectively), and provide access to its Sublicensees’ or Other Licensee’s Clinical Regulatory Filings on the same basis as if the Sublicensees or Other Licensees were such Party.
If requested by either Party, the Development Committee shall discuss such Annual Regulatory Reports. In addition to the Annual Regulatory Report, Clinical Regulatory Filings and Safety Data required to be shared as stated above in this
Section 2.5, if reasonably necessary for a Party or its Affiliate, Sublicensee or Other Licensee to have access to the underlying raw data, case report forms or other original documents (including laboratory notebooks) generated by or on behalf
of the Other Party (or its Affiliates, Sublicensees and Other Licensees (collectively with such other Party, the “Possessing Entities”)), then the Possessing Entities shall provide copies, or if required by Regulatory Authorities,
access to the originals, of such items. 
 ARTICLE 3 
 DEVELOPMENT AND COMMERCIALIZATION 
 3.1 Allocation
of Responsibility for Development and Commercialization. Aveo shall be responsible, in the manner that it deems appropriate (subject to its obligations pursuant to Section 3.3 and complying with the information-sharing and other obligations
set forth for it in this Agreement), for all further development of Licensed Products for, and commercialization (including marketing, promotion and sales) of Licensed Products in, the Aveo Territory for the Field (and all associated Licensed
Product Biomarker development). This includes conducting all preclinical and clinical studies reasonably required to support Marketing Approval Applications for Licensed Products within the Aveo Territory for the Field. To that end, Aveo (and its
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Sublicensees) shall have the right to file in its own name, and to own, INDs and Marketing Approval Applications and Marketing Approvals for Licensed Products in the Aveo Territory for the Field.
As between the Parties, Aveo shall have the sole and exclusive right to select the trademarks for the Licensed Products in the Aveo Territory in the Field. Aveo (whether itself or through its Affiliates or Sublicensees) shall have the right to
conduct clinical trials of Licensed Product in the Kirin Territory if needed or reasonably useful to support Aveo’s (or its Affiliate’s or Sublicensees) development or commercialization of Licensed Products for the Aveo Territory, subject
to the prior written consent of Kirin, such consent not to be unreasonably withheld, delayed or conditioned. Aveo will notify Kirin in advance before seeking to commence (i.e. before filing any IND to enable) such trials in the Kirin Territory in
order to obtain such consent, and so that the Parties may choose to coordinate their activities to the extent they both desire. Aveo shall also have the right to conduct trials of or with Licensed Product Biomarkers in the Kirin Territory, subject
to the prior written consent of Kirin, such consent not to be unreasonably withheld, delayed or conditioned. Aveo will similarly notify Kirin in advance in order to obtain such consent, and to provide an opportunity for the Parties to elect to
coordinate before Aveo files any IND or similar filing with Regulatory Authorities of the Kirin Territory to enable such development. 
 3.2 Cost of Development and Commercialization. As between the Parties, Aveo is responsible for all costs relating to the development and commercialization of Licensed Products for the Aveo Territory, including manufacturing,
regulatory, clinical and registration costs. As between the Parties, Aveo is also responsible for all costs relating to development and commercialization of Licensed Product Biomarkers for the Aveo Territory, including manufacturing, regulatory,
clinical and registration costs. As between the Parties, Kirin is responsible for all costs relating to the development and commercialization of Licensed Products for the Kirin Territory, including manufacturing, regulatory, clinical and
registration costs. As between the Parties, Kirin is also responsible for all costs relating to development and commercialization of Licensed Product Biomarkers for the Kirin Territory, including manufacturing, regulatory, clinical and registration
costs. 
 3.3 Diligence Obligations. Aveo shall use Commercially Reasonable Efforts to develop and commercialize at least
one (1) Licensed Product for the Field in the Aveo Territory (including development for, with the goal of seeking Marketing Approval and launching in, at least each of the Major Market Countries). The scope of such development and
commercialization activities shall include clinical development, manufacturing, process development and scale-up, seeking Marketing Approval, providing for a reasonable commercial launch in each country where Marketing Approval is obtained and
thereafter actively promoting to the appropriate audience(s) all Licensed Products that have Marketing Approval and filling the market demand for them in the countries where they are approved. These efforts and activities shall include at a minimum
performing the activities provided for in the then current Aveo Overall Clinical Development Plan on the timeframe set forth in the then current Aveo Overall Clinical Development Plan for each such activity and meeting each of the diligence goals
set forth in Exhibit E by the timeframes set forth in such Exhibit (now or as they may be updated in accordance with Section 3.4). 
  

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 Aveo shall not be relieved of its diligence obligations hereunder by the granting of any
sublicense(s). The activities and achievements of any Sublicensee(s) shall be counted, however, towards Aveo’s performance hereunder. Aveo shall require each Sublicensee to comply with the Aveo Overall Clinical Development Plan as applicable to
such Sublicensee’s Sublicensed territory (including meeting timelines of the Aveo Overall Clinical Development Plan and the diligence goals set forth in Exhibit E by the corresponding timelines); as all of the foregoing timelines may be updated
in accordance with this Agreement. 
 3.4 Meetings. If Aveo fails to meet any of the activities set forth in the Aveo
Overall Clinical Development Plan by the corresponding timeline or diligence goal set forth in Exhibit E by the corresponding timeline, then Kirin may request a meeting with Aveo in writing, and must do so before sending any notice of termination
with respect to breach by Aveo of its obligations to use Commercially Reasonable Efforts under Section 10.2. The Parties shall meet within [**] days after Kirin’s written request to discuss the reasons for Aveo not meeting the applicable
timeline, how Aveo may overcome any impediments that may have prevented it from achieving any of the diligence goals or events in the Aveo Overall Clinical Development Plan timely, and a reasonable revised timeline for Aveo to achieve the remaining
diligence goals and activities set forth in the Aveo Overall Clinical Development Plan applying Commercially Reasonable Efforts (including if appropriate a modified timeline). Within [**] days after the Parties’ meeting, Aveo shall provide to
Kirin Aveo’s written plan for the further development and commercialization of Licensed Products and revised timelines for the activities set forth in the Aveo Overall Clinical Development Plan (including the diligence goals set forth in
Exhibit E) (the “Diligence Plan”) taking into consideration factors (including scientific, technical, clinical and regulatory factors) that are out of the reasonable control of or not reasonably foreseeable by Aveo. Aveo’s
Diligence Plan must be reasonably calculated to promptly meet all remaining activities set forth in the Aveo Overall Clinical Development Plan and the diligence goals set forth in Exhibit E as soon as is reasonably practicable after the original
timeline (as such may have been updated, pursuant to Section 2.4 (as regards the Aveo Overall Clinical Development Plan) or pursuant to this Section 3.4 (as regards the diligence goals of Exhibit E)) by the continued application of
Commercially Reasonable Efforts. Kirin may comment on Aveo’s Diligence Plan and if requested by Kirin the Parties shall promptly (within [**] days after Kirin’s request) meet to discuss Kirin’s comments. Aveo shall provide to Kirin a
final written plan reasonably addressing Kirin’s concerns within [**] days after any such meeting, and this revised version will be the Diligence Plan. Once a Diligence Plan is in place, then Aveo shall use Commercially Reasonable Efforts to
carry out the Diligence Plan. So long as Aveo used Commercially Reasonable Efforts to try timely to meet the original activities set forth in the Aveo Overall Clinical Development Plan as of the Effective Date by the original timeline (as such
timeline may have been updated pursuant to Section 2.4) and to meet the diligence goals set forth in Exhibit E by the original timeline set forth in such Exhibit (as such timeline may have been updated pursuant to this Section 3.4), and
uses Commercially Reasonable Efforts to comply with such a Diligence Plan, Aveo shall not be deemed to have been in breach of this Agreement by virtue of the original failure to meet the original timeline, and Kirin shall have no right to terminate
this Agreement under Section 10.2 by virtue of the original failure to meet the original timeline. 
 Once a Diligence Plan
is in place, then the lead indication for development and timelines that it provides for achievement of the diligence goals of Exhibit E shall, for purposes of the limitations on Aveo’s ability to modify the Aveo Overall Clinical

  

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Development Plan set forth in Section 2.4(b), have the same effect as the original timeline set forth in Exhibit E and original lead indication for development of the original Aveo Overall
Clinical Development Plan. Changes to the lead indication and initial clinical trials, whether effected through a Diligence Plan or a change to the Aveo Overall Clinical Development Plan, are all subject to Sections 2.4(b)(ii)-(vi). 
 3.5 Records. Each Party shall maintain complete and accurate records of all work (including research, development, clinical,
manufacturing and commercialization) it conducts (itself or through its Affiliates or Third Parties) under this Agreement and all results, data and developments made pursuant to its efforts under this Agreement. Such records shall be complete and
accurate and shall fully and properly reflect all work done and results achieved in the performance of this Agreement in sufficient detail and in good scientific manner appropriate for Patent and regulatory purposes. 
 3.6 Access to Records. Each Party shall have the right to review and copy the records of the other Party described in
Section 3.5 (including raw data and scientific notebooks, to the extent provided for under Section 3.5) at reasonable times to the extent necessary for it to conduct its activities in its respective Territory or exercise its rights under
this Agreement. To the extent required with respect to filings made to a Regulatory Authority (including applications for INDs, Marketing Approval Applications and the like) each of Aveo and Kirin shall make available to the other Party original
documentation of such records in connection therewith. Each of Aveo and Kirin shall have the right to use the records of the other Party for purposes of the development or commercialization of any Licensed Product or Licensed Product Biomarker
(including the filing of Marketing Approval Applications) in its respective Territory during the Term. 
 3.7 Communications
with Regulatory Authorities. Each Party shall keep the other Party informed on an ongoing basis at Development Committee meetings regarding its (or its Affiliate’s, Sublicensee’s or Other Licensee’s) regulatory strategy, planned
regulatory submissions and material communications with Regulatory Authorities with respect to all Licensed Products and Licensed Product Biomarkers in its respective Territory. Subject to Aveo’s rights under Section 3.1, and Kirin’s
rights under Section 3.8, Aveo, its Affiliates and Sublicensees, on the one hand, and Kirin, its Affiliates and Other Licensees on the other hand, shall not, during the Term, communicate with Regulatory Authorities of the other Party’s
Territory regarding any Licensed Compound, Licensed Product or Licensed Product Biomarker without such Party’s advance written consent, such consent not to be unreasonably withheld, delayed or conditioned. However, each Party shall provide the
other Party with reasonable advance notice of any meeting or substantive telephone conference with any Regulatory Authority relating to any Licensed Product or Licensed Product Biomarker. Each Party shall have the right to attend and observe (but
not participate actively in) any material meeting or material conference call with any Regulatory Authority regarding any of the other Party’s (or its Affiliate’s, Sublicensee’s, or Other Licensee’s) Licensed Products or Licensed
Product Biomarkers. In addition, each Party shall promptly furnish to the other Party copies of all correspondence that the furnishing Party (or its Affiliate, Sublicensee or Other Licensee) receives from, or submits to, any Regulatory Authority
(including contact reports concerning conversations or substantive meetings) relating to any Licensed Product or Licensed Product Biomarker.

  

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The furnishing Party shall also provide to the other Party any meeting minutes that reflect material communications with any Regulatory Authority regarding a Licensed Product or Licensed Product
Biomarker. 
 3.8 Kirin Clinical Trials. Kirin (whether itself or through its Affiliates, Other Licensees and
distributors) retains the right to conduct clinical trials of Licensed Product in the Aveo Territory if needed to support Kirin’s (or its Affiliate’s or Other Licensee’s or distributor’s) development or commercialization of
Licensed Products for the Kirin Territory, subject to the prior written consent of Aveo, such consent not to be unreasonably withheld, delayed or conditioned. Kirin will notify Aveo in advance before seeking to commence (i.e. before filing any IND
to enable) such trials in the Aveo Territory in order to obtain such consent, and so that the Parties may choose to coordinate their activities to the extent they both desire to do so. Kirin also retains the right to conduct trials of or with
Licensed Product Biomarkers in the Aveo Territory, subject to the prior written consent of Aveo, such consent not to be unreasonably withheld, delayed or conditioned. Kirin will similarly notify Aveo in advance in order to obtain such consent, and
to provide an opportunity for the Parties to elect to coordinate before Kirin files any IND or similar filing with Regulatory Authorities of the Aveo Territory to enable such development. 
 3.9 Transfer of Current KRN951 Clinical Study Sponsorship. Kirin shall work with Aveo to transfer to Aveo the sponsorship and
operational control of the Current KRN951 Clinical Study, including executing any documents reasonably required to effectuate such transfer, which transfer shall be completed as soon as possible but in no event later than thirty (30) days after
the Effective Date to the extent within the Parties’ reasonable control. Such transfer shall include, to the extent requested by Aveo, transfer of Active Contracts existing as of the Effective Date associated with the Current KRN951 Clinical
Study, including CMC, clinical, laboratory analysis and manufacturing contracts. Kirin and Aveo shall prepare a joint notice to contractors and vendors associated with the Current KRN951 Clinical Study indicating that sponsorship of such study has
been transferred from Kirin to Aveo, and that invoices for work performed after December 31, 2006 should be sent to Aveo. Kirin shall be responsible for the completion of the interim Phase 1 study report for the Current KRN951 Clinical Study.
Kirin shall be solely responsible for all costs relating to the Current KRN951 Clinical Study incurred prior to December 31, 2006, and Aveo shall be solely responsible for all such costs incurred on and after December 31, 2006;
provided that Aveo shall be responsible for reasonable, documented, actual costs, if any, incurred by Kirin relating to the enrollment of any additional patients in the expanded 1.0 mg cohort portion of the Current KRN951 Clinical Study prior
to December 31, 2006; provided, further, that currently the Parties have no intention to conduct such enrollment of additional patients before 2007. 
 3.10 Adverse Event/Safety Reporting Protocol. Initially, the Parties shall report to each other any and all serious adverse events encountered with Licensed Products in accordance with the Counsel
for International Organizations of Medical Science’s (CIOMS’s) standard format or if mutually agreed by the Parties in writing a different, mutually agreed standard. Prior to such time as the Parties are both simultaneously sponsoring
human clinical trials of Licensed Product within their respective Territories, the Parties shall promptly mutually agree in writing as to a more detailed protocol regarding the exchange of all adverse event information on an ongoing basis, including
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sufficient to allow both Parties to satisfy their reporting obligations to Regulatory Authorities (current or future, worldwide). Once the protocol is agreed, each Party shall comply with it, and
may propose updates to it from time to time. Each Party shall reasonably consider the other’s proposed updates and not withhold consent to any such updates that are needed to allow a Party to satisfy its reporting requirements to Regulatory
Authorities (current or future, worldwide). Each Party shall require it Affiliates, Other Licensees, distributors (including the Distributors) and Sublicensees, as applicable, to also comply with such protocol. 
 3.11 Kirin’s Supply of Initial Materials to Aveo. 
 (a) Finished Licensed Product at [**]. Promptly after the Effective Date, Kirin will transfer ownership to Aveo of all quantities of
finished Licensed Product then in the possession or control of [**] (and/or later produced under the Settlement Agreement listed in Exhibit H that Kirin will be assigning to Aveo) at the price set forth on Exhibit D. The Parties will execute any
documents necessary to effectuate such transfer, including the document attached hereto as Exhibit I. Without limiting Section 3.13, second paragraph as regards the other Active Contracts, Kirin agrees to seek permission from [**] to assign the
Settlement Agreement listed in Exhibit H to Aveo, and Kirin further agrees that if [**] does not agree to allow Kirin to assign the Settlement Agreement listed in Exhibit H to Aveo, then Kirin shall cooperate fully with Aveo to exercise Kirin’s
rights under such Settlement Agreement [**] in the manner directed by Aveo. 
 (b) Lot 003 of Bulk Drug Substance. Within
fifteen (15) days after the Effective Date, Kirin will ship [**] kilograms ([**] Kg) of Bulk Drug Substance identified as Lot 003 to Aveo or its designee (the “Lot 003 Drug Substance”). The Lot 003 Drug Substance shall be
packaged in heat sealed, double polyethylene bags enclosed in an outer fiber drum. Delivery terms shall be FOB (IncoTerms 2000) the Kirin facility or other venue Kirin designates. The Lot 003 Drug Substance shall be provided to Aveo (or its
designee) together with an existing Certificate of Analysis (as defined in Section 3.11(c)(ii)), materials safety data sheet (the “MSDS”) and representative chromatograms. The Lot 003 Drug Substance shall be provided to Aveo
without cost to Aveo; provided that Aveo shall be responsible for the costs of shipping and insurance, shall bear the risk of loss in transit, and shall be responsible for all customs clearances into the United States or other country of the
Aveo Territory. 
 (c) Lot 005 of Bulk Drug Substance. 
 (i) Unless and except to the extent the testing for conformity to Specifications that has on or before the Effective Date been
arranged for by Kirin (“Ongoing Testing”) shows a failure to conform to Specifications, within [**] days after the Effective Date, Kirin shall provide Aveo or its designee with [**] kilograms ([**] Kg) of Bulk Drug Substance
identified as Lot 005 (the “Lot 005 Drug Substance”) at the price set forth on Exhibit D. The Lot 005 Drug Substance shall be separated into [**] kilogram ([**] Kg) aliquots and packaged in heat sealed, double polyethylene bags and
placed in fiber drum outer containers. Delivery terms shall be FOB (IncoTerms 2000) the Kirin facility or other venue Kirin designates. Aveo shall be responsible for the costs of shipping and insurance, shall bear the risk of loss in transit, and
shall be responsible for all customs clearances into the United States or other country of the Aveo Territory. If the Ongoing Testing shows that the current inventory is not believed to conform to Specifications, then Kirin will not send any of the
[**] kilogram ([**] Kg) aliquots of the current inventory and subsection (v) of this Section 3.11(c) shall apply. 
  

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 (ii) The shipment of the Lot 005 Drug Substance shall be sampled and tested by
Kirin against the applicable Specifications prior to delivery to Aveo. A current Certificate of Analysis (as hereinafter defined) for the Lot 005 Drug Substance delivered shall set forth the items tested, Specifications and results, and shall
indicate that the Lot 005 Drug Substance has been manufactured in accordance with Japanese/European cGMP, and the applicable Specifications, and that all batch production and control records have been reviewed and approved by Kirin’s, or its
designee’s, quality control unit (a “Certificate of Analysis”). Kirin shall send the Certificate of Analysis, together with a MSDS and representative chromatograms from the analytical testing to Aveo or its designee
simultaneously with the shipment of the Lot 005 Drug Substance. 
 (iii) Upon receipt of the shipment of Lot 005 Drug
Substance, simultaneously with a complete Certificate of Analysis, MSDS and representative chromatograms, Aveo will review the Certificate of Analysis and will inspect the shipment and test samples of the Lot 005 Drug Substance against the
Specifications. Aveo will notify Kirin in writing of its acceptance or rejection of the Lot 005 Drug Substance within six (6) weeks of receipt of the Lot 005 Drug Substance shipment and a complete Certificate of Analysis relating to such
shipment. During this review period, the Parties agree to respond promptly, but in any event within ten (10) business days, to any reasonable inquiry by the other Party with respect to the Lot 005 Drug Substance shipment, the Certificate of
Analysis, MSDS or representative chromatograms. Aveo has no obligation to accept Lot 005 Drug Substance if it does not comply with the Specifications and/or was not manufactured in compliance with Japanese/European cGMP. 
 (iv) If the Parties cannot agree whether Lot 005 Drug Substance conforms to the applicable Specifications, a representative sample
of the Lot 005 Drug Substance shipment shall be submitted to a mutually agreed independent testing laboratory for final determination of whether the Lot 005 Drug Substance conforms to the Specifications. The laboratory must meet Japanese/European
cGLP compliance standards, be of recognized standing in the industry, and consent to the appointment of such laboratory shall not be unreasonably withheld or delayed by either Party. The laboratory shall use the test methods contained in the
applicable Specifications and the determination of conformance by such laboratory with respect to all or part of the Lot 005 Drug Substance shall be final and binding on the Parties. The fees and expenses of the laboratory incurred in making such
determination shall be paid by the Party against whom the determination is made. 
 (v) If Kirin finds on the basis of
the Ongoing Testing (defined above in subsection (i)) determines or otherwise agrees that there is not at least [**] kilogram ([**] Kg) aliquot of the Lot 005 Drug Substance to be supplied to or supplied to Aveo (or its designee) that conforms to
the Specifications, or if an independent laboratory determines that this is the case, then, at Aveo’s request, Kirin shall promptly arrange for the reprocessing (if feasible and appropriate) or re-manufacture of a minimum of [**] kilograms
([**] Kg) of Bulk Drug Substance (the “Replacement Bulk Drug Substance”). Shipment, testing, acceptance and

  

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payment for such Replacement Bulk Drug Substance by Aveo shall be in accordance with the procedures set forth in this Section 3.11(c), except that while Kirin shall be responsible for the
cost of producing or acquiring the Replacement Bulk Drug Substance, Aveo shall be responsible for any additional costs associated with shipment, customs clearance and/or insurance for such replacement Bulk Drug Substance. 
 (vi) Kirin will invoice Aveo according to the payment schedule set forth in the applicable purchase order. Payment of undisputed
invoices shall be due within thirty (30) days after Aveo’s notice to Kirin under Section 3.11(c) that it has accepted any shipment of the Lot 005 Drug Substance (or Replacement Bulk Drug Substance). 
 (vii) Kirin represents and warrants that the manufacture, testing and storage of Bulk Drug Substance and any finished Licensed
Product supplied to AVEO pursuant to this Agreement (the “Supplied Material”) will have been conducted in compliance with Japanese/European cGMP, clinical grade, and that the Supplied Material conforms to the Specifications (with
the exception that the Lot 003 Drug Substance is out-of-date). Kirin further represents and warrants that the Supplied Material shall be free of any lien, security, interest or other encumbrance on title. Aveo’s sole remedy for any breach of
this representation and warranty shall be the provision by Kirin of the Replacement Bulk Drug Substance. 
 3.12
Parties’ Supply to Each Other, Other Than Initial Supply by Kirin. Except as provided above in Section 3.11, either Party may supply the other Party with Licensed Compound and/or Licensed Product under this Agreement. The terms and
conditions of such supply shall be set forth in a written manufacturing agreement to be negotiated in good faith by the Parties and having commercially reasonable terms and conditions; provided that the supply price set forth in such written
agreement shall be equal to [**]. 
 3.13 Technology Transfer Assistance to Aveo. Promptly after the Effective Date Kirin
shall transfer (or teach) to Aveo all Licensed Know-How with respect to the Licensed Compound KRN-951 and the Current Licensed Product based on it existing as of the Effective Date that is set forth on Exhibit F (the “Existing Licensed
Know-How”). Kirin has used good faith efforts to identify and reflect on Exhibit F all Licensed Know-How relating to KRN951. Within six (6) months after the Effective Date, Kirin will update Exhibit F to include Licensed Know-How
relating to KRN633. If, during the Term, Kirin discovers any Licensed Know-How that was unintentionally omitted from Exhibit F, it shall notify Aveo and provide for such Licensed Know-How to be promptly transferred (or taught) to Aveo. Failure to
have included such Licensed Know-How on Exhibit F as of the Effective Date shall not be deemed a breach of this Agreement. Transfer of the Licensed Know-How shall take place either at Kirin’s facility or any Aveo facility (including, in Japan
or the United States) designated by Aveo, at Aveo’s discretion; provided that no more than ten (10) days of participation at any Aveo facility shall be required. Meetings and teleconferences as part of this process shall be
conducted in the English language. Documentation as part of this process may be provided in any language. Kirin shall have no obligation to translate documents written in the Japanese language (or any other language) into the English language. Aveo
may, at its expense, bring translators (appropriately bound to confidentiality in accordance with this Agreement) to any such meetings to facilitate the discussions. The disclosure of the Existing Licensed Know-How shall be conducted as soon as
practicable after the Effective Date and in any event shall be completed within ninety (90) days after the Effective Date, and shall be conducted at no further cost to

  

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Aveo; provided that Aveo shall bear all travel, food and lodging costs and expenses for Aveo representatives sent to Kirin’s facilities. From time to time during the Term, Kirin shall
disclose to Aveo any Licensed Know-How in addition to the Existing Licensed Know-How, and Aveo may request additional assistance from Kirin with respect to the transfer of any such additional Licensed Know-How to Aveo in order to facilitate
Aveo’s understanding thereof. In such case, Kirin shall provide such assistance to Aveo to the extent necessary to transfer to Aveo knowledge of Licensed Know-How that is necessary for Aveo’s (or its Affiliate’s or Sublicensee’s)
activities in the Aveo Territory. Aveo shall be responsible for the reasonable costs and expenses incurred by Kirin in providing such assistance, including (where applicable) FTE-based compensation and the expenses and costs of travel, food and
lodging. All representatives of a Party sent to the other Party’s facilities shall agree to and comply with such other Party’s applicable reasonable confidentiality, safety, and facility access policies. 
 In addition, to assist Aveo in making a smooth transition to commence its Licensed Product development activities for KRN951, the list of
contracts set forth in Exhibit H is a list of all contracts in effect between Kirin and Third Parties relating to the Licensed Compound KRN951 and Licensed Products based on this Licensed Compound that provide for currently ongoing or future
services with respect to such Licensed Compound and Licensed Products (“Active Contracts”). (To avoid any misunderstanding, Active Contracts exclude confidentiality agreements and materials transfer agreements.) To the extent Kirin
becomes aware that any Active Contracts existing as of the Effective Date have been omitted from the list in Exhibit H but remain in effect, Kirin will notify Aveo of the omitted contract. At Aveo’s request, Kirin will assign any of the Active
Contracts existing as of the Effective Date to Aveo, provided with respect to each such contract that it is assignable to Aveo and Aveo agrees to assume financial responsibility and all other post-assignment performance obligations under each
such contract; and provided, further, that assignment of the contract shall not be deemed to assign to Aveo any Patents that may have been assigned or are required to be assigned to Kirin under the contract based on inventions prior to the
time the contract is assigned to Aveo. Notwithstanding the foregoing, Kirin shall not be required to assign to Aveo any master services contracts affecting any compound(s) or product(s) other than Licensed Compounds and Licensed Products. If any
such master services contracts are Active Contracts as of the Effective Date, the Parties will cooperate to seek to assign the appropriate work order(s) or otherwise transition the appropriate services in a reasonable way. 
 3.14 Legal Compliance. In conducting any development activities hereunder, each of Aveo and Kirin (and their respective Affiliates,
Sublicensees and Other Licensees) shall: (a) use Commercially Reasonable Efforts to ensure that its employees, agents, clinical institutions and clinical investigators comply with all applicable Regulatory Authority statutory and regulatory
requirements with respect to Licensed Products and Licensed Product Biomarkers, including (as applicable): the Federal Food, Drug and Cosmetic Act, as amended (FFDCA), the Public Health Service Act (PHSA), regulatory provisions regarding protection
of human subjects, financial disclosure by clinical investigators, Institutional Review Boards (IRB), Good Clinical Practices, Good Laboratory Practices, Good Manufacturing Practices, IND regulations, and any conditions imposed by a reviewing IRB or
Regulatory Authority, and comparable statutes and regulatory requirements in other jurisdictions; and (b) not, to the best of its knowledge, utilize, in conducting such studies, any person or entity that at such time is debarred by, or that, at
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Regulatory Authority for debarment action pursuant to the provisions of the Generic Drug Enforcement Act of 1992 (21 U.S.C. Section 335), and comparable statutes and regulatory requirements
in other jurisdictions. 
 ARTICLE 4 
 LICENSING 
 4.1 License to Aveo. Subject to the terms and conditions
of this Agreement, Kirin hereby grants to Aveo an exclusive, royalty-bearing (in accordance with Article 5) license under the Licensed Patents and Licensed Know-How (a) to research, develop, use, sell, offer for sale and import Licensed
Compounds, Licensed Products and Licensed Product Biomarkers for the Field in the Aveo Territory; (b) to make, have made and use Licensed Compounds, Licensed Products and Licensed Product Biomarkers anywhere in the world for purposes of the
activities described in clauses (a) and/or (c), and (c) subject to the requirements of Section 3.1, to clinically test Licensed Products and Licensed Product Biomarkers in the Kirin Territory solely for purposes of the activities
listed in (a). Subject to the requirements of Sections 3.7 and 3.8, Kirin retains, however, the right under the Licensed Patents and the Licensed Know-How to research, develop, manufacture and have manufactured Licensed Compounds, Licensed Products
and Licensed Product Biomarkers on a worldwide basis in furtherance of Kirin’s development and/or commercialization of Licensed Products for the Field in the Kirin Territory or outside the Field worldwide. (For example, and without limitation,
Kirin may license a manufacturer in the Aveo Territory to manufacture Licensed Product that will be sold for the Field in the Kirin Territory. Similarly, Aveo may license a manufacturer in the Kirin Territory to manufacture Licensed Product that
will be sold for the Field in the Aveo Territory.) The license granted to Aveo in this Section 4.1 shall be sublicenseable solely as provided in Section 4.2, but shall otherwise be non-assignable and non-transferable (except as part of
assigning this Agreement pursuant to Section 12.9). 
 4.2 Sublicensing by Aveo. After filing an IND for a Licensed
Product in each of the United States and the European Union (each of which INDs is approved or is not rejected by the Regulatory Authorities having jurisdiction, such that it serves as the legal basis for clinical testing in humans of Licensed
Product in the applicable country or regulatory jurisdiction), Aveo shall be entitled to grant sublicenses under its license of Section 4.1 subject to all of the following, and the rights of Kirin and the Current Manufacturer as set forth in
Sections 4.3, 4.4 and 4.13: 
 (a) Aveo must provide Kirin with a true, accurate and complete copy of each sublicense
within [**] U.S. business days after execution; 
 (b) such Sublicensees cannot further sublicense except if all of the
following conditions are satisfied: (1) the further sublicenses must be on terms consistent with this Agreement, including this Section 4.2; and (2) the economic terms of the further sublicenses must be such that the [**]; 

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 (d) without Kirin’s advance written agreement as to how any associated
Sublicensing Revenue will be calculated, it being understood that Kirin shall not be obligated to agree to any such calculation (even though the failure to agree will prevent the transaction), Aveo shall not include in connection with any
sublicensing deal any “quids” to Aveo (such as rights for Aveo in any of the Sublicensee’s other product candidates or products or intellectual property unrelated to Licensed Products); 
 (e) before executing any sublicense that will result in the amount of Sublicensing Revenue payable to Kirin pursuant to
Section 5.3 being less than [**] percent ([**]%) of the Sublicensee’s net sales of Licensed Compounds and/or Licensed Products (as determined in accordance with the definition of net sales in such sublicense), Aveo shall first [**]; and

 (f) for sublicenses to Sublicensees that (themselves or through an Affiliate) have any [**], the Sublicensee must:

 (i) [**]; 
 (ii) [**]; 
 (iii) [**]; 
 (iv) commit in writing to keep the timelines required of Aveo under this Agreement as relevant to the Sublicensee’s sublicensed
territory; and 
 (v) promptly (within no more than thirty (30) days after requested by Kirin) meet with the
Development Committee through a representative of the Sublicensee at the level of at least Vice President or above. 
 4.3
[**] Sublicensing. If Aveo (or any of its Affiliates) decides to, intends to [**] any sublicense hereunder [**] Aveo shall [**] Aveo shall state [**] the territory and Licensed Products [**] of the proposed sublicense. If within [**] after [**],
Kirin notifies Aveo that Kirin wishes to [**] such proposed sublicense (or the terms under which [**] such proposed sublicense [**] then the Parties shall [**] provided that Aveo may [**] shall not [**] such proposed sublicense with [**]
Kirin’s written approval [**]. If Kirin does not [**] for the sublicense, or if the Parties [**], Aveo shall thereafter be [**] other terms of the sublicense; provided that [**] of the sublicense [**] then the terms of [**], and Aveo
shall [**]. 
 4.4 [**] Contract Manufacturing. 
 (a) With respect to the manufacture by Third Parties of quantities of Licensed Compound before [**], the Current Manufacturer shall
[**]: If Aveo or any Sublicensee of Aveo [**], Aveo shall [**] both Kirin and the Current Manufacturer [**]. Upon [**], the Current Manufacturer shall have [**] Aveo. Aveo shall [**] period. If, after receiving the Current Manufacturer’s [**],
then Aveo may [**]. Prior to [**] the Licensed Compound, Aveo shall then [**] Promptly after receipt of [**], the Current Manufacturer shall [**] with Aveo on [**] provided that the Current Manufacturer can [**]. If the Current Manufacturer
elects to [**]. If, [**], the Current Manufacturer has [**]. At such time as Aveo [**]. 
  

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 (b) If, [**], Aveo [**], Aveo shall provide [**] thereof to the Current
Manufacturer [**]. 
 4.5 Licenses to Kirin. 
 (a) Subject to the terms and conditions of this Agreement, Aveo hereby grants to Kirin an exclusive, royalty-free license under the
Aveo Product IP: (i) to research, develop, use, sell, offer for sale and import Licensed Compounds and Licensed Products in the Kirin Territory for the Field and worldwide for outside the Field, (ii) to make, have made and use Licensed
Compounds and Licensed Products anywhere in the world for purposes of the activities described in clauses (i) and/or (iii); and (iii) subject to Section 3.8, to clinically test Licensed Products anywhere in the world to obtain data to
support any Marketing Approval Application for Licensed Products in the Kirin Territory for applications within the Field and worldwide for applications outside the Field. 
 (b) Subject to the terms and conditions of this Agreement, Aveo hereby grants to Kirin a non-exclusive, royalty-free license under
the Aveo Product IP: (i) to research, develop, use, sell, offer for sale and import Licensed Product Biomarkers in the Kirin Territory for the Field and worldwide for outside the Field, (ii) to make, have made and use Licensed Product
Biomarkers anywhere in the world for purposes of the activities described in clauses (i) and/or (iii); and (iii) subject to Section 3.8, to clinically test Licensed Product Biomarkers anywhere in the world to obtain data to support
any Marketing Approval Application for Licensed Products and/or Licensed Product Biomarkers in the Kirin Territory for applications within the Field and worldwide for applications outside the Field. 
 (c) Subject to the requirements of Sections 3.1 and 3.7, Aveo retains the right under the Aveo Product IP to research, develop,
manufacture and have manufactured Licensed Compounds, Licensed Products and Licensed Product Biomarkers on a worldwide basis in furtherance of Aveo’s development and/or commercialization of Licensed Products for the Field in the Aveo Territory.
(For example, and without limitation, Aveo may license a manufacturer in the Kirin Territory to manufacture Licensed Product that will be sold for the Field in the Aveo Territory.) The licenses granted to Kirin in this Section 4.5 shall be
sublicenseable solely as provided in Section 4.6, but shall otherwise be non-assignable and non-transferable (except as part of assigning this Agreement as a whole pursuant to Section 12.9). 
 4.6 Sublicensing by Kirin. Kirin shall be entitled to grant sublicenses under the licenses granted to Kirin under Section 4.5,
subject to the following and the rights of Aveo as set forth in Section 4.13: 
 (a) Kirin must provide Aveo with a
true, accurate and complete copy of each sublicense within five (5) Japanese business days after execution; provided that Kirin may redact economic terms of such sublicense and other terms of such sublicense not required to demonstrate
compliance with this Agreement; and provided, further, that Kirin shall not be required to translate any sublicense agreement into the English language; 
 (b) Other Licensees receiving such sublicenses cannot further sublicense except on terms consistent with this Section 4.6; 
  

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 (c) each sublicense hereunder shall be subject to the terms and conditions of
this Agreement. 
 4.7 Exclusivity Commitment. Until one (1) year after the first post-Marketing Approval sale of
Licensed Product in the Aveo Territory, Aveo and its Owned Affiliates shall not in the Aveo Territory (a) seek Marketing Approval for, or in any way commercialize, any Competing Product, or (b) develop in any Phase III Trial or other
Pivotal Clinical Trial, or in any human clinical trial that is (at the time) as advanced as or more advanced than the then-most-advanced human clinical trial of Licensed Product by Aveo and its Affiliates, any Competing Product. As used in this
Section 4.7, “Owned Affiliate” means any person, corporation, joint venture or business entity (x) as to which Aveo is the beneficial owner of at least fifty percent (50%) of the voting share capital, and/or
(y) that Aveo has the ability to control the policies of (or to control the hiring and firing of the management who determine the policies of) through a voting agreement or other contract. 
 4.8 Use of Patents and Know-How. Each Party hereby covenants that it (and its Affiliates, Sublicensees, and Other Licensees, as
applicable) shall not practice the Patents or Know-How licensed to such Party hereunder outside the scope of the licenses to such Party under this Agreement. 
 4.9 Reservation of Rights. No right, title or interest is granted by either Party whether expressly or by implication to or under any Patents or Know-How, other than those rights and licenses
expressly granted in this Agreement. Each Party reserves to itself all rights not expressly granted under this Agreement. This Agreement shall not be deemed to restrict a Party from exploiting any of its rights not expressly granted to the other
Party under this Agreement except as provided in Section 4.7. 
 4.10 Third-Party Technology. Neither Aveo nor Kirin
shall in-license any intellectual property that contains subject matter relevant to any Licensed Product or Licensed Product Biomarker without first conferring with the other Party as to the application of the intellectual property being licensed.
If requested by the other Party, the licensing Party shall use good faith efforts to include in such in-licenses the ability to sublicense such intellectual property to be sublicensed to the other Party on a pass-through basis for the other
Party’s Territory throughout the same scope as set forth in Section 4.1 (with respect to Aveo) and Section 4.5 (with respect to Kirin). 
 4.11 Technology Sublicensed from Third Parties. The licenses granted under this Article 4, to the extent they include (or come to include) sublicenses under Patents or Know-How of a Third Party,
shall be subject to the terms and conditions of the agreement governing the license under which the sublicense is granted. If a good faith dispute between a Third Party and the Party that entered into a license with such Third Party arises about the
interpretation of any provision of the agreement governing such Third Party license, the other Party shall use its Commercially Reasonable Efforts to ensure that its actions, if any, under this Agreement do not detrimentally affect the ability of
the allegedly breaching Party to contest the interpretation advanced by such Third Party; provided, however, that in no event shall the obligation to exercise such Commercially Reasonable Efforts require such Party to waive any rights granted
to it under this Agreement or otherwise available to it at law or in equity. 
  

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 4.12 Cross-Territory Sales. The Parties recognize that it is possible that:

 (a) Licensed Products originally sold by Aveo (or its Affiliate, Sublicensee or distributor) in the Aveo Territory may
be imported and resold in the Kirin Territory, to Kirin’s detriment in that this would diminish sales of Licensed Products by Kirin (and its Affiliates, distributors and other Licensed Product licensees) in the Kirin Territory; or 

(b) Licensed Products sold by or under authority of Kirin (or its Affiliates, distributors or Other Licensees) in the Kirin
Territory may be imported and resold in the Aveo Territory, to Aveo’s detriment in that this would diminish sales of Licensed Products by Aveo (and its Affiliates, distributors and Sublicensees) in the Aveo Territory. 
 Both Aveo and Kirin shall take reasonable measures to prevent any such sales, to the full extent permitted by law. This shall include that
each Party (a) shall label Licensed Products sold by it as being for sale in such Party’s Territory (or a country thereof); and (b) refrain from selling Licensed Products to any entity such Party has reason to believe will resell
quantities of Licensed Product in the other Party’s Territory. If cross-Territory resales nevertheless occur, the Parties shall discuss in good faith and mutually agree an equitable mechanism to compensate the Party losing sales in its
Territory. 
 4.13 Coordination of Sublicenses and Rights of Other Licensees with this Agreement. 
 (a) Aveo shall ensure that its agreements with Sublicensees are consistent with and impose obligations consistent with the terms and
conditions regarding Sublicensees set forth in this Agreement, including Sections 2.3(d), 2.4, 2.5, 3.3-3.7, 3.10, 3.14, 4.2, 4.4, 4.5, 4.8, 4.11, 4.12, 4.13, 4.14, 5.3, 5.15, 5.17(d), 9.1, 10.6(h) and 10.7. Without limiting the generality of the
foregoing, Aveo shall in particular require its Sublicensees to make available Clinical Regulatory Filings, Safety Data, and underlying detailed data as required by Section 2.5. In addition to the foregoing, in any sublicense Aveo shall obtain
ownership of or the right to grant Kirin (and its Affiliates and Other Licensees) a royalty-free license having at least the same scope as the license of Section 4.5 under: (i) all Patents rights claiming inventions developed by or for the
Sublicensee in Licensed Product and/or Licensed Product Biomarker-related activities that if invented by Aveo would be Aveo Product Inventions; and (ii) all Know-How developed in such activities that if owned or Controlled by Aveo would be Aveo
Know-How. Information provided by a Sublicensee (or of a Sublicensee provided by Aveo) to Kirin and its Other Licensees under this Section 4.13(a) shall be the Confidential Information of Aveo. 
 (b) Kirin shall ensure that its agreements with Other Licensees are consistent with and impose on its Other Licensees obligations
consistent with the terms and conditions set forth in this Agreement, including Sections 2.5, 3.5-3.7, 3.10, 3.14, 4.1, 4.6, 4.8, 4.12, 4.13 and 4.14. In addition to the foregoing, in any agreement with Other Licensees, Kirin shall in particular
require its Sublicensees to make available Clinical Regulatory Filings, Safety Data, and underlying detailed data as required by Section 2.5. In addition to the foregoing, in any agreement with an Other Licensee Kirin shall obtain ownership of
or the right to grant Aveo (and its Affiliates and Sublicensees) a royalty-free license having at least the same scope as the license of Section 4.1 under: (i) all Patents rights claiming inventions developed by or for the Sublicensee in
Licensed Product and/or Licensed Product Biomarker-related

  

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activities that if invented by Kirin would be Kirin Product Inventions; and (ii) all Know-How developed in such activities that if owned or Controlled by Kirin would be Kirin Know-How.
Information provided by an Other Licensee (or of an Other Licensee provided by Kirin) to Aveo and its Sublicensees under this Section 4.13(b) shall be the Confidential Information of Kirin. 
 4.14 Inventions by Service Providers. 
 (a) From all contractors performing services in connection with the manufacture, research, development and/or commercialization of Licensed Compounds, Licensed Products and/or Licensed Product
Biomarkers (excluding Sublicensees who will be entitled to sell the Licensed Product for their own account), Aveo shall (i) obtain the royalty-free right of access and use by Kirin and its Other Licensees (including further sublicenses by such
Other Licensees) to Clinical Regulatory Filings and Safety Data developed by any such contractors, as well as all underlying original data and documentation as described in Section 2.5, for purposes of development and commercialization of
Licensed Products and Licensed Product Biomarkers in the Field in the Kirin Territory and outside the Field worldwide under this Agreement, and (ii) obtain the royalty-free right to grant to Kirin non-exclusive sublicenses (including the right
of Kirin to grant further sublicenses, and further sublicenses by such sublicensees), having at least the same scope as the license to Kirin in Section 4.5, under the Patents and Know-How developed by such contractors in the course of
conducting activities with respect to Licensed Compounds, Licensed Products or Licensed Product Biomarkers that if claiming an invention invented by Aveo or Know-How owned or Controlled by Aveo would be Aveo Product Inventions or Aveo Know-How.
Information provided by an Aveo contractor (or of an Aveo contractor provided by Aveo) to Kirin and its Other Licensees under this Section 4.14(a) shall be the Confidential Information of Aveo. 
 (b) From all contractors performing services in connection with the manufacture, research, development and/or commercialization of
Licensed Compounds, Licensed Products and/or Licensed Product Biomarkers (excluding Other Licensees who will be entitled to sell the Licensed Product for their own account), Kirin shall (i) obtain the royalty-free right of access and use by
Aveo and its Sublicensees (including further sublicenses by such Sublicensees) to Clinical Regulatory Filings and Safety Data developed by any such contractors as well as all underlying original data and documentation as described in
Section 2.5, for purposes of development and commercialization of Licensed Products and Licensed Product Biomarkers in the Field in the Aveo Territory under this Agreement, and (ii) obtain the royalty-free right to grant to Aveo
non-exclusive Sublicenses (including the right of Aveo to grant further Sublicenses, and further sublicenses by such Sublicensees), having at least the same scope as the license to Aveo in Section 4.1, under the Patents and Know-How developed
by such contractors in the course of conducting activities with respect to Licensed Compounds, Licensed Products or Licensed Product Biomarkers that if claiming an invention invented by Kirin or Know-How owned or Controlled by Kirin would be Kirin
Product Inventions or Kirin Know-How. Information provided by a Kirin contractor (or of a Kirin contractor provided by Kirin) to Aveo and its Sublicensees under this Section 4.14(b) shall be the Confidential Information of Kirin. 
  

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 4.15 No Implied Licenses. Except as explicitly set forth in this Agreement,
neither Party grants under its intellectual property (including Patents) any license, express or implied, to the other Party. 
 ARTICLE 5 
 COMPENSATION 
 5.1 Up-Front Payment. Within thirty (30) days after the Effective Date, Aveo shall pay Kirin a one-time, upfront payment of five million U.S. dollars (U.S.$5,000,000.00). Such amount shall be
non-refundable and shall not be creditable against any other amount due hereunder. 
 5.2 Milestone Payments. Aveo shall
also pay the following one-time milestone payments to Kirin, each within thirty (30) days after the first achievement of each milestone event indicated below (whether achieved by or on behalf of Aveo or its Affiliate or any other entity acting
on behalf of any of them, except for Sublicensees) with respect to a Licensed Product: 
  

			
	 Milestone Event
	  	Milestone Payment
		
	1.    [**].	  	[**] U.S. dollars
(U.S.$[**]).
		
	2.    [**].	  	[**] U.S. dollars
(U.S.$[**]).
		
	3.    [**].	  	[**] U.S. dollars
(U.S.$[**]).
		
	4.    [**].	  	[**] U.S. dollars
(U.S.$[**]).
		
	5.    [**].	  	[**] U.S. dollars
(U.S.$[**]).
		
	6.    [**].	  	[**] U.S. dollars
(U.S.$[**]).

 Each milestone payment by Aveo to Kirin hereunder shall be payable only once; for the sake of
clarity, this means that the total maximum amount of milestone payments under this Section 5.2 is sixty million U.S. dollars (U.S. $60,000,000.00). Each such payment shall be nonrefundable and noncreditable against any other payments due
hereunder. To avoid any doubt, for the purposes of milestone 1, [**]. If milestone 2 is achieved without milestone 1 having been paid, then Aveo shall pay the payment for milestone 1 along with the payment for milestone 2. This same principle shall
apply (and the earlier milestones shall be deemed achieved and payable) if milestone 3 or 4 is achieved before milestones 1 and/or 2 are paid; if milestone 5 is achieved before any of milestones 1, 2

  

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and 3; and if milestone 6 is achieved before any of milestones 1, 2, and 4. For the avoidance of doubt, no milestones shall be payable upon achievement of any milestones by Sublicensees; instead,
any milestone-related payments (which may or may not be based upon milestones similar to those set forth above) from Sublicensees shall be included in Sublicensing Revenue. 
 5.3 Sublicensing Revenue Sharing. Aveo shall pay to Kirin [**] percent ([**]%) of all Sublicensing Revenue. Such shares of
Sublicensing Revenue shall be payable quarterly, within thirty (30) days after the end of the calendar quarter in which Aveo or its Affiliate receives the underlying Sublicensing Revenue. 
 5.4 Royalty Payments. Aveo shall pay Kirin royalties on Net Sales at the following rates with respect to all Net Sales achieved
during the applicable Royalty Term (determined on a country-by-country and Licensed Product-by-Licensed Product basis in accordance with Section 5.7 below): 
  

			
	 Annual Net Sales Level
	  	Royalty Rate
(Percentage of Net
Sales)
		
	Level 1: That portion of Net Sales in a given calendar year that is [**] U.S. dollars (U.S.$[**]) or less.	  	[**] percent
([**]%).
		
	Level 2: That portion of Net Sales in a given calendar year between [**] U.S. dollars (U.S.$[**]) and [**] U.S. dollars (U.S.$[**]).	  	[**] percent
([**]%).
		
	Level 3: That portion of Net Sales in a given calendar year that is greater than or equal to [**] U.S. dollars (U.S.$[**]).	  	[**] percent
([**]%).

 5.5 Third Party Payments — General Case. If Aveo obtains a license from a
Third Party under any issued Patent that covers a Licensed Compound, Licensed Product or the manufacture, use, sale or importation thereof, and Aveo must pay to such Third Party a running royalty on net sales of Licensed Products under such license,
then Aveo shall be entitled to credit against Net Sales royalties to Kirin each quarter an amount equal to [**] percent ([**]%) of the amount paid by Aveo to such Third Party for such quarter. If Aveo obtains a license from a Third Party under any
pending Patent and such pending Patent issues and covers a Licensed Compound, Licensed Product or the manufacture, use, sale or importation thereof, then Aveo shall be entitled to a credit retroactively against Net Sales royalties to Kirin each
quarter an amount equal to [**] percent ([**]%) of the amount of any running royalty on net sales of Licensed Products under such license which is paid by Aveo to such Third Party for such quarter based on such Patent that ultimately issued with
such coverage (including those due based on such Patent from when it was pending). However, in no event shall royalties hereunder to Kirin in respect of any calendar quarter be reduced by more than [**] percent ([**]%) thereof. Unused amounts of
credit shall carry forward to subsequent calendar quarters subject always to the [**] percent ([**]%) limit on reducing the royalty to Kirin in any calendar quarter, as applied in such subsequent calendar quarters. 
  

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 5.6 Third Party Payments — Specific Case. If it becomes necessary for Aveo
and/or its Affiliates to access patent rights claiming priority from [**] in order to make, use or sell a Licensed Product in the Aveo Territory (i.e. if it issues and covers the Licensed Product actually being commercialized, and withstands any
challenge to it Kirin may at its own expense choose to bring), then Kirin will be responsible for taking a license thereunder (on an exclusive or non-exclusive basis) or another similar right (such as a covenant not to sue) and for sublicensing (or
otherwise transferring such license to Aveo) and shall bear (a) [**] percent ([**]%) of the cost associated with accessing such patent rights, and (b) any damages assessed against Aveo with respect to Aveo’s exercise of its rights
under this Agreement, other than activities by or on behalf of Sublicensees (Kirin’s responsibilities with respect to Sublicensees’ activities are addressed in the next sentence instead). If it becomes necessary for any Sublicensee to
access patent rights claiming priority from such application in order to make, use or sell a Licensed Product in such Sublicensee’s portion of the Aveo Territory (i.e. if it issues and covers the Licensed Product actually being commercialized,
and withstands any challenge to it Kirin may at its own expense choose to bring), then Kirin shall have the same responsibility to obtain a license to cover the Sublicensee’s sublicensed Licensed Compound and Licensed Product activities, but
Kirin’s financial responsibility for any consideration due the licensor or damages assessed based on such Sublicensee’s exercise of the rights that Kirin obtains shall be limited (a) overall, to the [**], and (b) with respect to [**],
to the [**]. Kirin agrees that before commencing any formal challenge to any such patents Kirin will first meet and confer with Aveo to discuss and seek to reach a common understanding whether such challenge would be likely to have a material
adverse effect on Aveo’s ability to commercialize the Licensed Product in the Aveo Territory and the most sensible course of action weighing the relevant probabilities, costs and benefits. 
 5.7 Royalty Term. “Royalty Term” means, on a Licensed Product-by-Licensed Product and country-by-country basis, the
time from the first post-Marketing Approval sale of such Licensed Product in such country until the later to occur of (a) the expiration of the last Valid Claim claiming or covering the composition, use or manufacture of the Licensed Product in
the country in which such Licensed Product is manufactured or sold, or (b) twelve (12) years after the first post-Marketing Approval sale of such Licensed Product in such country. The foregoing provisions of this Section 5.7
notwithstanding, the royalties payable with respect to Net Sales of Licensed Products shall be reduced to [**] percent ([**]%) of the amounts otherwise payable pursuant to Section 5.4 with respect to Net Sales of a Licensed Product in a country
during any portion of the Royalty Term when there is not a Valid Claim claiming or covering such Licensed Product’s composition, manufacture or use in the country of manufacture or sale. 
 5.8 Combination Products. If Aveo or its Affiliate sells any Licensed Product as a combination product containing one or more active
ingredients in addition to a Licensed Compound (which may be either combined in a single formulation or bundled with separate formulations) (“Combination Product”), Net Sales for such Combination Product shall be calculated by
multiplying actual Net Sales of such Combination Product by the fraction A/(A+B) where A is the invoice price of the Licensed Compound thereof if sold separately, and B is the total invoice price of any other active ingredient or ingredients in the
combination, if sold separately. If,

  

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on a country-by-country basis, the other active ingredient or ingredients in the combination are not sold separately in such country, Net Sales for the purpose of determining royalties of the
Combination Product shall be calculated by multiplying actual Net Sales of such Combination Product by the fraction A/C where A is the invoice price of the Licensed Product if sold separately, and C is the invoice price of the Combination Product.
If, on a country-by-country basis, neither the Licensed Compound nor the other active ingredient or ingredients of the Combination Product is sold separately in such country, or the mechanics provided above are otherwise inapplicable, Net Sales for
the purposes of determining royalties of the Combination Product shall be determined by the Parties in good faith, based on the relative fair market values of the different active ingredients and in accordance with standard and customary practice if
any, and in looking in particular to the relative list prices in other countries if available. If the immediately preceding sentence applies, Aveo shall in good faith propose to Kirin a Net Sales allocation for such Combination Product based on the
principles set forth in the immediately preceding sentence, Kirin shall in good faith consider such proposal, and the Parties shall seek to reach agreement on such allocation. If the Parties are unable to reach such agreement within sixty
(60) days of Aveo’s proposal, then the matter shall be referred for non-binding resolution to a mutually agreeable individual (not affiliated with either Party) having expertise in the research, development, marketing and sales of similar
pharmaceutical products (including experience in pricing and reimbursement), such resolution to occur within sixty (60) days after such referral. Such individual shall be instructed to determine the Net Sales allocation for such Combination
Product using the following standard: the allocation shall be made based on the relative fair market value contribution made by each of the different active ingredients contained in such Combination Product to its overall sales price, determined in
accordance with standard customary practice (if any), and looking in particular to the relative list prices in other countries, if available (the “Standard”). If either Party disagrees with the conclusions of such individual, then
such Party shall refer the matter for resolution in accordance with Article 11. The standard to be applied in any arbitration of this allocation under Article 11 shall be the Standard (defined above in this Section 5.8). 
 5.9 Quarterly Payment Timings. All royalties due under Section 5.4 shall be paid quarterly, on a country-by-country basis,
within sixty (60) days after the end of the relevant calendar quarter for which royalties are due. 
 5.10 Royalty
Payment Reports. With respect to each calendar quarter, within thirty (30) days after the end of the calendar quarter, Aveo shall provide to Kirin a written report stating the number and description of all Licensed Products sold during the
relevant calendar quarter; the gross sales associated therewith; and the calculation of Net Sales thereon, including the amount of any deduction provided for in the definition of Net Sales in Article 1. The report shall provide all such information
on a country-by-country and Licensed Product-by-Licensed Product basis. 
 5.11 Payment Method. Except as provided
in Section 5.14 regarding blocked currency, all payments due under this Agreement to Kirin shall be made by bank wire transfer in immediately available funds to an account designated by Kirin. All payments hereunder shall be made in the legal
currency of the United States of America, and all references to “$” or “dollars” shall refer to United States dollars (i.e., the legal currency of the United States). 
  

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 5.12 No Credits or Refunds. All payments to Kirin hereunder shall be
noncreditable and nonrefundable, except only to the extent that an audit conducted pursuant to Section 5.17 below confirms that Aveo had overpaid amounts to Kirin, in which case Kirin shall pay to Aveo such overpaid amounts within thirty
(30) days of receipt of an invoice from Aveo. 
 5.13 Taxes. Aveo shall be responsible for and may withhold from
payments made to Kirin under this Agreement any taxes required to be withheld by Aveo under applicable law. Accordingly, if any such taxes are levied on such payments due hereunder (“Withholding Taxes”), Aveo shall (i) deduct
the Withholding Taxes from the payment amount, (ii) pay all applicable Withholding Taxes to the proper taxing authority, and (iii) send evidence of the obligation together with proof of tax payment to Kirin within thirty (30) days
following that tax payment. If Kirin has the possibility to apply for any exemption from, or reduction in the rate of, withholding taxes under any double taxation or similar agreement or treaty in force from time to time and requests Aveo’s
assistance, the Parties shall reasonably cooperate in seeking such exemption or reduction. Kirin is entitled to require Aveo to pay all milestone payments (regardless of the country or countries to which the milestone events relate) and all
royalties on account of Net Sales in the U.S. from a U.S. entity or, if paid from a non-U.S. entity and tax is required to be withheld, then Aveo will make an additional payment to Kirin such that Kirin will net the same amount as Kirin would have
received in the absence of such withholding. To the extent Kirin can recover the amount withheld or obtain a tax benefit, in both cases without prejudice to any other recovery of withholding or tax benefit to which Kirin or its Affiliate would
otherwise be entitled, then Kirin will refund the recovered amount or the amount of the tax benefit (up to a total of the withheld amount) to Aveo. 
 5.14 Blocked Currency. In each country where the local currency is blocked and cannot be removed from the country, royalties accrued in that country shall be paid to Kirin in the country in local
currency by deposit in a local bank designated by Kirin, unless the Parties otherwise agree. 
 5.15 Sublicenses. If Aveo
grants any sublicenses, such sublicenses shall include an obligation for the Sublicensee to (i) maintain records adequate to document and verify the proper Sublicensing Revenues (including royalties) to be paid to Aveo; (ii) provide
reports with each Sublicensing Revenue payment to Aveo sufficient to allow such verification; and (iii) allow Aveo to conduct an audit as requested by Kirin to verify the proper payment of Sublicensing Revenues (such audit right is not required
to be any stronger than that of Section 5.17). 
 5.16 Foreign Exchange. If any currency conversion shall be
required in connection with the calculation of amounts payable hereunder, such conversion shall be made using the average of the exchange rates for the purchase and sale of U.S. dollars, as reported by Citibank, N.A. on the last business day of the
calendar quarter to which such payment pertains. With any payment in relation to which a currency conversion is performed to calculate the amount of payment due, Aveo shall provide to Kirin a true, accurate and complete copy of the Citibank, N.A.
exchange rates used in the calculation. 
  

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 5.17 Records; Inspection. 
 (a) Aveo shall keep and ensure that its Affiliates keep complete and accurate records of its sales and other dispositions (including
use in clinical trials, or provision on a compassionate use basis or as marketing samples) of the Licensed Products including all such records that may be necessary for the purposes of calculating all payments due under this Agreement. Aveo shall
make such records available for inspection by an accounting firm selected by Kirin under Section 5.17(c) at Aveo’s premises in the United States on reasonable notice during regular business hours (in accordance with the remaining
provisions of this Section 5.17) no more than once in any calendar year. 
 (b) Upon timely request and at least
thirty (30) business days’ prior written notice from Kirin, Aveo shall permit such audit to be conducted during regular business hours in such a manner as to not unnecessarily interfere with Aveo’s normal business activities. Such
audit shall be limited to results in any period that has not previously been audited under this Section 5.17, not to exceed five (5) years prior to the audit notification. 
 (c) At Kirin’s expense no more than once per calendar year, Kirin has the right to retain an independent certified public
accountant from a nationally recognized (in the U.S.) accounting firm (that is not an Affiliate of Kirin) perform on behalf of Kirin an audit, conducted in accordance with GAAP, of such books and records of Aveo and its Affiliates as are deemed
necessary by the independent public accountant to report on Net Sales for the period or periods requested by Kirin and the correctness of any report or payments made under this Agreement (all subject to subsection (b)). 
 (d) Aveo shall ensure that its Sublicensees keep complete and accurate records of such Sublicensee’s sales and other
dispositions (including use in clinical trials, or provision on a compassionate use basis or as marketing samples) of the Licensed Products including all such records that may be necessary for the purposes of calculating all payments due under this
Agreement. Aveo shall require that such Sublicensee make such records available for inspection by Aveo or an independent accounting firm selected by Aveo, at least once during any calendar year in which the agreement between Aveo and any Sublicensee
is in effect and thereafter for a period of five (5) years after the calendar year to which the audit pertains. Upon the reasonable request of Kirin with respect to any such Sublicensee, and no more than once in any calendar year, Aveo shall
exercise its audit rights with respect such Sublicensee and shall report the results of such audit to Kirin in accordance with Section 5.17(f). 
 (e) All information, data, documents and abstracts referred to in this Section 5.17 shall be used only for the purpose of verifying compliance with this Agreement, shall be treated as
Aveo’s Confidential Information subject to the obligations of this Agreement and need neither be retained more than one (1) year after completion of an audit hereof, if an audit has been requested; nor more than five (5) years from
the end of the calendar year to which each shall pertain; nor more than three (3) years after the date of the expiration or termination of this Agreement. 
 (f) Audit results shall be shared by Aveo and Kirin. The auditor shall be under written obligations to Aveo (and, where applicable, any Sublicensee) of confidentiality and non-use (other than uses
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 (g) If the audit reveals an underpayment, Aveo shall promptly pay to Kirin the
amount of such undisputed underpayment plus interest in accordance with Section 5.18. If the audit reveals that the undisputed monies owed by Aveo to Kirin has been understated by more than five percent (5%) for the period audited, Aveo
shall, in addition, pay the reasonable costs of such audit. If the audit reveals an undisputed overpayment, the amount of such overpayment shall be payable to Aveo as provided in Section 5.12. 
 5.18 Interest. If Aveo fails to make any payment due to Kirin under this Agreement, then interest shall accrue from the date the
particular payment is due until paid at a rate equal to the Dollars prime or equivalent rate per annum quoted by The Wall Street Journal on the first business day after such payment is due, plus [**] percent ([**]%). 
 ARTICLE 6 
 PATENTS 
 6.1 Ownership and Disclosure of Inventions. 
 (a) Kirin Product Inventions. Kirin shall solely own the Kirin Product Inventions and the Kirin Product Invention Patents.

 (b) Aveo Product Inventions and Aveo Patents. Aveo shall solely own the Aveo Product Inventions and Aveo Patents
(other than any Aveo Patents that may be in-licensed and are owned by the licensor). 
 (c) Joint Inventions. Kirin and
Aveo shall jointly own (as provided for below in Section 6.1(d)) the Joint Inventions, Jointly Owned Product Patents and Joint Other Invention Patents. 
 (d) U.S. Patent Law Nature of Joint Ownership. The joint ownership of Joint Inventions, Jointly Owned Product Patents and Joint Other Inventions Patents under Section 6.1(c) shall be, on a
worldwide basis with respect to each jurisdiction in which such a jointly owned Patent exists, joint ownership in accordance with and bearing with it the same rights as the joint ownership interests of co-inventors named on U.S. Patents under U.S.
patent laws in the absence of a written agreement (including the right to practice the invention without having to obtain consent from and without having any duty of accounting to the other Party; and including the right to license others to do the
same, without having to obtain consent from and without having any duty of accounting to the other Party), except solely to the extent explicitly provided to the contrary in this Agreement (including Article 4 and Article 5). Such rights of joint
ownership in accordance with the U.S. patent law treatment are further implemented by the Parties on a worldwide basis as provided for in Section 6.2(e). 
 (e) Invention Disclosure. Without modifying or limiting the ownership and rights as provided for in Sections 6.1(a)-(d), each Party shall promptly disclose to the other Party any Aveo Product
Invention, Joint Product Invention, Joint Other Invention and Kirin Product Invention, as applicable, prior to any public disclosure or filing of a patent application and allow sufficient time for comment and review by the other Party as to whether
such other Party would recommend for a Patent to be filed (by the Party or Parties who is or are entitled to do so in accordance with Section 6.2). 
  

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 6.2 Prosecution of Patents. 
 (a) Listed Kirin Patents and Kirin Product Invention Patents. Except as set forth in this Section 6.2, Kirin shall be responsible
to perform the filing, prosecution and maintenance of the Listed Kirin Patents and Kirin Product Invention Patents on a worldwide basis. Kirin shall be responsible for paying one hundred percent (100%) of the prosecution and maintenance costs
with respect to Listed Kirin Patents and Kirin Product Invention Patents worldwide. Aveo shall have the right to review and comment upon Kirin’s prosecution of the Listed Kirin Patents and Kirin Product Invention Patents in each case in the
Aveo Territory. Kirin shall provide Aveo with a copy of each substantive communication received from any patent authority within two (2) weeks of receipt by Kirin’s patent attorney; and a copy of each proposed submission to a patent
authority in the Aveo Territory regarding a Listed Kirin Patent or Kirin Product Invention Patent reasonably in advance of making such filing (normally four (4) weeks in advance but sometimes less under exigent circumstances). Furthermore, with
respect to the preparation, filing, prosecution and maintenance of Listed Kirin Patents and Kirin Product Invention Patents in each case in the Aveo Territory, Kirin agrees to: (i) keep Aveo reasonably informed with respect to such activities;
(ii) consult with Aveo regarding such matters, including the final abandonment of any Listed Kirin Patent or Kirin Product Invention Patent claims; and (iii) reasonably consider Aveo’s comments. If Kirin determines to abandon or not
maintain any Patent that is a Listed Kirin Patent or a Kirin Product Invention Patent in each case in the Aveo Territory, then Kirin shall provide Aveo with at least forty-five (45) days prior written notice of such determination (or such other
period of time reasonably necessary to allow Aveo to assume such responsibilities). In that case, Aveo shall have the right, at its option, to control the filing, prosecution and maintenance of any such Patent at its own expense in Kirin’s
name, without affecting any of the other financial terms set forth in this Agreement. 
 (b) Aveo Patents. Aveo shall be
responsible to perform the filing, prosecution and maintenance of the Aveo Patents on a worldwide basis. Aveo shall be responsible for paying one hundred percent (100%) of the prosecution and maintenance costs with respect to Aveo Patents
worldwide. Aveo shall keep Kirin reasonably informed of Aveo’s activities in preparing, filing and prosecuting the Aveo Patents in the Kirin Territory, and shall inform Kirin reasonably in advance of Aveo’s intention to abandon the
prosecution or maintenance of any Aveo Patent in the Kirin Territory. 
 (c) Jointly Owned Product Patents. With respect
to each Joint Product Invention, Kirin shall prepare, file, prosecute and maintain the corresponding Jointly Owned Product Patents in the Kirin Territory, and Aveo shall prepare, file, prosecute and maintain the corresponding Jointly Owned Product
Patents in the Aveo Territory; provided that the Parties shall mutually agree on which Party shall file the initial patent application disclosing any Joint Product Invention, and shall mutually agree as to the content and scope of such first
filing. Kirin shall be responsible for paying one hundred percent (100%) of the prosecution and maintenance costs incurred by Kirin with respect to Jointly Owned Product Patents in the Kirin Territory. Aveo shall be responsible for paying one
hundred percent (100%) of the prosecution and maintenance costs incurred by Aveo with respect to Jointly Owned Product Patents in the Aveo Territory. Each Party shall have the right to review and comment upon the other’s prosecution and
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Owned Product Patents in the other’s Territory. Furthermore, as regards filings that are applicable to both Territories (such as each original PCT filing for a Jointly Owned Product Patent),
the Parties shall reasonably cooperate and mutually agree as to such filings, sharing the costs equally. Each Party shall provide to the other Party a copy of each proposed submission to a patent authority in the submitting Party’s Territory
regarding a Jointly Owned Product Patent reasonably in advance of making such filing (normally four (4) weeks but sometimes less under exigent circumstances). More generally, with respect to the preparation, filing, prosecution and maintenance
of Jointly Owned Product Patents in a Territory, each prosecuting Party agrees to: (i) keep the other reasonably informed with respect to such activities; (ii) consult with the other Party regarding such matters, including the final
abandonment of any Jointly Owned Product Patent claims; and (iii) reasonably consider the other’s comments. If a prosecuting Party determines to abandon or not maintain any Jointly Owned Product Patent in the would-be-abandoning
Party’s Territory, then such Party shall provide the other Party with at least sixty (60) days prior written notice of such determination (or such other period of time reasonably necessary to allow the other Party to assume such
responsibilities). In that case, the other Party shall have the right, at its option, to control the filing, prosecution and maintenance of the Patent that would otherwise have gone abandoned, at such other Party’s own expense and in its name,
without affecting any of the other financial terms set forth in this Agreement. 
 (d) Joint Other Invention Patents.
With respect to each Joint Other Invention, the Parties shall confer and agree upon which Party shall prosecute and/or maintain the corresponding Joint Other Invention Patent. Either Party may disclaim its interest in any particular patent
application or patent that is a Joint Other Invention Patent on thirty (30) days written notice to the other Party, in which case (i) the disclaiming Party shall assign its ownership interest in such Patent to the other Party for no
additional consideration, (ii) the Party that is then the sole owner shall be solely responsible for all future costs of such patent application or patent, and (iii) the disclaiming Party shall hold no further rights thereunder.

 (e) Worldwide Implementation of Joint Ownership. To implement the rights of joint ownership throughout the world as
provided for in Sections 6.1(c) and (d), each Party hereby assigns to the other Party, and hereby grants to the other Party all consents, licenses and waivers, in each case that are necessary to achieve such joint ownership and the rights associated
with such joint ownership (as described in Section 6.1(d)) worldwide, and agrees to provide documents evidencing or that may be required to record such assignments, consents, licenses and waivers promptly upon the other Party’s request.
Each of the foregoing assignments and other grants is coupled with an interest. Promptly after requested in writing, each Party shall provide to the other all documents and instruments required to evidence or record any such assignments, consents,
licenses or waivers, or (to the extent otherwise consistent with this Agreement) to enforce rights in the assigned Patents. Each Party hereby appoints the other Party as the appointing Party’s attorney-in-fact to execute and deliver each of the
foregoing documents and instruments if the other Party is unable, after making reasonable inquiry, to obtain the appointing Party’s signature on any such documents and instruments. This Section 6.2(e) shall not be deemed, read, or used to
contradict or undermine the Parties’ rights and obligations as set forth in Article 4 and Article 5. 
  

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 (f) In-Licensed Patents. If there are at any time any Aveo Patents that are
in-licensed by Aveo instead of owned by Aveo (or an Aveo Affiliate), then Section 6.2(b) shall apply to the prosecution of such Patents in the same way as if they were Aveo Patents owned by Aveo, to the full extent Aveo has prosecution rights
under the agreement by which Aveo received its license rights to such Aveo Patents that are in-licensed by Aveo instead of owned by Aveo (or an Aveo Affiliate), and to the full extent permitted by such agreement. If there are at any time any Listed
Kirin Patents or Kirin Product Invention Patents that are in-licensed by Kirin instead of owned by Kirin (or any Kirin Affiliate), then Section 6.2(a) shall apply to the prosecution of such Patents in the same way as if they were Listed Kirin
Patents or Kirin Product Invention Patents owned by Kirin, to the full extent Kirin has prosecution rights under the agreement by which Kirin received its license rights to such Patents that are in-licensed by Kirin instead of owned by Kirin (or any
Kirin Affiliate), and to the full extent permitted by such agreement. 
 (g) Certain Proceedings. For the purposes of
this Section 6.2, “prosecution” shall include defending the applicable Patents in proceedings such as oppositions, reexaminations, interferences, nullities or other administrative actions in which a Third Party contests the
inventorship, validity, title or enforceability of a Patent. 
 (h) Affiliates/Sublicensees. Aveo may grant to its
Affiliates or Sublicensees all or certain of its rights with respect to the preparation, filing, prosecution and maintenance of Licensed Patents and Aveo Patents, set forth in this Section 6.2, and vice versa with respect to Kirin and
its Affiliates and Other Licensees. 
 6.3 Patent Term Extensions. The Parties shall discuss and seek to reach mutual
agreement for which, if any, of the Patents within the Licensed Patents (including Jointly Owned Product Patents) and the Aveo Patents, in each case in the Aveo Territory, the Parties shall apply to extend the patent term with respect to Licensed
Products, pursuant to patent term extension laws or regulations or Supplemental Protection Certificate laws and regulations in the Aveo Territory. If the Parties cannot reach agreement as to whether to apply to extend the term of a particular Patent
in the Aveo Territory, then if the Patent is an Aveo Patent or a Licensed Patent that is specific to Licensed Compound(s), Licensed Product(s) or any method(s) of making or using any of them (and therefore does not affect other products outside the
scope of the license to Aveo (“License-Specific Licensed Patents”)), Aveo shall have the right to make the final decision, provided that if Aveo determines to extend an Aveo Patent (where applicable, if permitted under the
agreement by which Aveo obtained its license rights to such Aveo Patent), but a Licensed Patent could have been extended instead, then the claims in such Licensed Patent shall continue for purposes of determining all affected Royalty Terms to be
deemed “Valid Claims” throughout the term of the extension that was available for the Licensed Patent, notwithstanding that they will have earlier expired. For Licensed Patents that are not Joint Patents and are not License-Specific
Licensed Patents, if Aveo wishes to extend any such other Licensed Patents, Kirin’s consent is required in Kirin’s sole discretion. 
 6.4 Non-Patent Regulatory Exclusivity. As between the Parties, Aveo shall have the exclusive right to apply for Regulatory Exclusivity for Licensed Products in the Aveo Territory for the Field.

  

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 6.5 Infringement of Patents by Third Parties. 
 (a) Notification. Each Party shall promptly notify the other Party in writing if the notifying Party reasonably believes that any
Licensed Patent, Jointly Owned Product Patent and/or Aveo Patent is being or has been infringed or misappropriated in any Territory by a Third Party (such infringement, together with any that may be imminently threatened to occur by any potential
generic version of a Licensed Product arising under the implementing procedures of 35 U.S.C. 271(e)(2) or ex-U.S. equivalent, “Infringement”, and “Infringe” shall be interpreted accordingly). 
 (b) Competitive Infringement of Licensed Patents (Including Listed Kirin Patents, Kirin Product Invention Patents, Aveo Patents and
Jointly Owned Product Patents). 
 (i) First Right. Aveo shall have the first right, but not the obligation, to
enforce the Listed Kirin Patents, Kirin Product Invention Patents, Aveo Patents and Jointly Owned Product Patents with respect to activities or conduct of a Third Party in the Field and the Aveo Territory that compete with, or are expected to
compete with, or otherwise materially affect the market for, Licensed Products in the Aveo Territory (“Competitive Infringement”). Aveo shall reasonably consider Kirin’s comments on any such enforcement activities. Except as
provided in Section 6.5(g), Aveo shall bear all costs and expenses for enforcement under this Section 6.5(b)(i) (including the costs of Kirin’s cooperation as required under subsection (e)). 
 (ii) Back-up Right for Competitive Infringement of Licensed Patents in the Aveo Territory. If Aveo does not bring action to prevent
or abate Competitive Infringement within [**] days (or [**] days in the case of an action brought under the Hatch-Waxman Act or any ex-U.S. equivalent of the Hatch-Waxman Act) after notification thereof to or by Aveo pursuant to Section 6.5(a),
then Kirin shall have the right, but not the obligation, to bring, at its own expense, an appropriate action in the Aveo Territory against any person or entity engaged in such Competitive Infringement directly or contributorily; provided,
however, Kirin shall not initiate legal action without first conferring with Aveo and considering in good faith Aveo’s reasons for not bringing any such action. 
 (iii) Certain Infringement in the Kirin Territory. Kirin shall have the sole right, but not the obligation, to enforce the Listed
Kirin Patents, Kirin Product Invention Patents and/or Jointly Owned Product Patents with respect to activities or conduct of a Third Party in or for the Field in the Kirin Territory or outside the Field worldwide. 
 (c) Non-Competitive Infringement Involving Listed Kirin Patents and/or Kirin Product Invention Patents. With respect to any
Infringement of any Listed Kirin Patents or Kirin Product Invention Patents anywhere in the world (including in the Aveo Territory) other than Competitive Infringement in the Aveo Territory or Infringement in the Kirin Territory resulting from
activities or conduct of a Third Party in or for the Field in the Kirin Territory that compete with, or are expected to compete with, or otherwise materially affect the market for, Licensed Products in the Kirin Territory (enforcement rights
regarding each of which are provided in subsection (b)), Kirin shall have the exclusive right (but not the obligation) to prevent or abate such Infringement, and as between the Parties shall bear all related expenses and retain all related
recoveries. In such event, Kirin shall notify Aveo of such Infringement and keep Aveo reasonably informed with respect to the disposition of any action taken in connection therewith. 
  

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 (d) Jointly Owned Product Patents and Joint Other Invention Patents. With respect
to any Third Party Infringement of (i) Jointly Owned Product Patents anywhere in the world (including in the Aveo Territory) other than a Competitive Infringement in the Aveo Territory or an Infringement in the Kirin Territory resulting from
activities or conduct of a Third Party in or for the Field in the Kirin Territory that compete with, or are expected to compete with, or otherwise materially affect the market for, Licensed Products in the Kirin Territory, or (ii) Joint Other
Invention Patents (it being understood that in each case such Infringement that is outside the scope of Sections 6.5(b) and 6.5(c)), the Parties shall confer and take such action in such manner as they shall agree. If the Parties are unable after a
reasonable period of time to agree on how to proceed, then each Party may exercise its rights as joint owner of the affected Joint Other Invention Patent in accordance with the allocation of joint ownership rights as expressed in Section 6.1.
The Parties shall allocate their expenses and recoveries in relation to such actions as they shall agree, provided that unless the Parties otherwise agree in writing, they shall divide such recoveries as set forth in Section 6.5(g).

 (e) Participation of the other Party with Respect to Infringement Suits. If a Party brings an action against
infringement under this Section 6.5, the other Party shall be entitled to separate representation in such matter by counsel of its own choice and at its own expense, and such Party shall cooperate fully with the Party bringing such action
including by being joined as a party plaintiff if necessary to obtain standing for such action (all at the expense on a pass-through basis of the prosecuting Party). 
 (f) Settlement. Kirin shall not settle a claim brought under this Section 6.5 involving Licensed Patents in a manner that would limit or restrict the ability of Aveo to sell Licensed Products
for use in the Field in the Aveo Territory, or impair the exclusivity of Aveo’s rights hereunder, in each case without the prior written consent of Aveo (which consent shall not be unreasonably withheld, conditioned or delayed). Aveo shall not
settle a claim brought under this Section 6.5 involving Licensed Patents, Jointly Owned Product Patents and/or other Aveo Patents that would limit or restrict the ability of Kirin to sell Licensed Products in the Kirin Territory or for use
outside the Field in the Aveo Territory, or impair the exclusivity of Kirin’s rights hereunder, in each case without the prior written consent of Kirin (which consent shall not be unreasonably withheld, conditioned or delayed). 
 (g) Allocation of Proceeds. If monetary damages are recovered from any Third Party in an action brought by a Party under
Section 6.5(b)(i), Section 6.5(b)(ii) or Section 6.5(d), whether such damages result from the infringement of Licensed Patents, Jointly Owned Product Patents and/or Aveo Patents, such recovery shall be allocated first to the
reimbursement of any costs and expenses incurred by the Party controlling such litigation (including, for this purpose, a reasonable allocation of expenses of internal counsel or other personnel acting in such capacity (i.e., coordination of
litigation matters and the like)), not previously reimbursed, and then the costs and expenses of the non-controlling Party, and any remaining amounts shall be split as follows: 
 (i) the portion of any such remaining amounts that represents recovery for [**] on any action brought under Section 6.5(b)(i)
(1) to the extent [**], with the remaining portion of the [**] that does not represent treble or punitive damages being allocated to Aveo; and (2) to the extent representing [**] shall be allocated [**] percent ([**]%) to Kirin and [**]
percent ([**]%) to Aveo; 
  

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 (ii) the [**] on any action brought under Section 6.5(b)(ii) shall be
allocated to Kirin in the same amount as under subsection (i) Aveo would have received if the action had been brought under Section 6.5(b)(i), with the remainder of the [**] under this subsection (ii) being allocated to Aveo;

 (iii) the portion of any such remaining amounts that represents recoveries in relation to lost sales of Licensed
Products in the Kirin Territory or of Licensed Products for use outside the Field in the Aveo Territory shall be allocated to Kirin; and 
 (iv) the portion of any such remaining amounts that represents recovery for Infringement in an action brought pursuant to Section 6.5(d) shall be [**] percent ([**]%) to Aveo and [**] percent
([**]%) to Kirin, unless Aveo and Kirin agree in writing to a different allocation. 
 (h) Affiliates/Sublicensees. Aveo
may grant to its Affiliates or Sublicensees its rights to enforce Licensed Patents as set forth in this Section 6.5, and vice versa for Kirin and its Affiliates and Other Licensees. 
 6.6 Infringement of Third-Party Rights. If any Licensed Product manufactured, used or sold by either Party, its Affiliates,
Sublicensees or Other Licensees becomes the subject of a Third Party’s claim or assertion of infringement of a Patent granted by a jurisdiction within the other Party’s Territory relating to the manufacture, use, sale, offer for sale or
importation of Licensed Product, the Party first having notice of the claim or assertion shall promptly notify the other Party, and the Parties shall promptly confer to consider the claim or assertion and the appropriate course of action. Unless the
Parties otherwise agree in writing, each Party shall have the right to defend itself against a suit that names it as a defendant, subject to the indemnification provisions of Article 9. Neither Party shall enter into any settlement of any claim
described in this Section 6.6 that affects the other Party’s rights or interests without such other Party’s written consent, which consent shall not be unreasonably withheld or delayed. In any event, the Parties shall reasonably
assist one another and cooperate in any such litigation at the other Party’s request and expense. 
 6.7 Patent
Marking. Aveo (or its Affiliate, Sublicensee or Distributor) shall mark Licensed Products marketed and sold by Aveo (or its Affiliate, Sublicensee or Distributor) hereunder with appropriate Licensed Patent numbers or indicia at Kirin’s
request to the extent permitted by law, in those countries in which such notices affect recoveries of damages or equitable remedies available with respect to infringements of patents. 
 6.8 Patent Oppositions and Other Proceedings. If either Party desires to bring an opposition, action for declaratory judgment,
nullity action, interference, reexamination or other attack upon the validity, title or enforceability of a Patent owned or controlled by a Third Party that covers or may cover the manufacture, use for the Field or sale of any Licensed Product, such
Party shall so notify the other Party. 
  

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 6.9 Trademarks. The trademarks on Licensed Products sold by Aveo (and its
Affiliates and Sublicensees) in the Aveo Territory shall be owned or controlled by Aveo. Neither Party grants to the other any license under trademarks owned or controlled by such Party. 
 ARTICLE 7 
 CONFIDENTIALITY 
 7.1 Treatment of Confidential Information. The Parties agree that during the Term, and for a period of five (5) years after the
Term expires in the last country in which it expires or is terminated, a Party receiving Confidential Information of the other Party shall (a) maintain in confidence such Confidential Information to the same extent such Party maintains its own
most highly confidential proprietary information (but at a minimum each Party shall use Commercially Reasonable Efforts), (b) not disclose such Confidential Information to any Third Party without prior written consent of the other Party, and
(c) not use such Confidential Information for any purpose except those permitted by this Agreement. 
 7.2 Authorized
Disclosure. Notwithstanding Section 7.1, a Party may disclose Confidential Information of the other Party to the extent such disclosure is reasonably necessary in the following instances: 
 (a) filing for, prosecuting or maintaining Patents; 
 (b) regulatory filings; 
 (c) prosecuting or defending litigation;

 (d) complying with applicable governmental regulations and/or submitting information to tax or other governmental
authorities, provided that if the receiving Party is required by law to make any public disclosures of Confidential Information of the disclosing Party, to the extent it may legally do so, it will give reasonable advance notice to the
disclosing Party of such disclosure and will use its reasonable efforts to secure confidential treatment of Confidential Information prior to its disclosure (whether through protective orders or otherwise); 
 (e) to (i) its Affiliates, and to prospective and actual licensees, Sublicensees, employees, consultants, agents, accountants,
lawyers, advisors and investors, and (ii) others in order to (and solely to the extent required to) exercise such Party’s rights or fulfill its obligations under this Agreement (including commercialization and/or sublicensing of Licensed
Patents, Licensed Know-How or Licensed Products) on a need to know basis, each of whom in (i) and (ii) prior to disclosure must be bound by similar obligations of confidentiality and non-use substantially equivalent in scope to those set
forth in this Article 7 and that are of reasonable duration in view of the circumstances of the disclosure; and 
 (f) to
the extent mutually agreed to in writing by the Parties. 
  

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 7.3 Termination of Prior Agreements. This Agreement supersedes the Prior
Agreements. All information exchanged between the Parties under or otherwise subject to a Prior Agreement shall be deemed Confidential Information (in accordance with and to the extent set forth in the definition of such term in Article 1), and
shall be subject to the terms of this Article 7. 
 7.4 Publicity. The Parties have agreed that Aveo may issue the press
release set forth in Exhibit G for the initial public announcement of the execution of this Agreement. Kirin may issue its own press release to announce the execution of this Agreement (in Japanese or another language), provided that such
press release does not disclose more information about this Agreement than is disclosed in Aveo’s press release. Any other publication, news release or other public announcement regarding the execution or terms of this Agreement, shall first be
reviewed and approved by both Parties, which approval shall not be unreasonably withheld, conditioned or delayed. In addition, each Party shall use good faith efforts to notify the other Party in advance of any significant public announcement
regarding Licensed Products’ performance and achievements hereunder. In case of any disclosure that is required by law as reasonably advised by the disclosing Party’s counsel, such Party will provide the other Party with prompt notice of
the required disclosure, such other Party shall not be entitled to withhold consent, but the Parties shall find a mutually acceptable manner in which to make the disclosure. Permission to repeat information that has already been publicly disclosed
shall not be required. The terms of this Agreement shall be treated as Confidential Information of both Parties. Such terms may be disclosed by a Party to individuals or entities covered by Section 7.2(e)(i) (but not Section 7.2(e)(ii))
above, each of whom prior to disclosure must be bound by similar obligations of confidentiality and non-use substantially equivalent in scope to those set forth in this Article 7. Disclosure of the terms of this Agreement (but not other Confidential
Information received from the other Party) may also be made, to actual or potential bankers, lenders and investors of the disclosing Party, who are bound to obligations of confidentiality and non-use substantially equivalent in scope to those set
forth in this Article 7. In addition, if at any time a Party is legally required to file a copy of this Agreement with the Securities and Exchange Commission (or its counterpart in any country other than the U.S.) in connection with any public
offering of such Party’s securities or regular reporting obligations as a public company (if and when such Party becomes public), such Party shall attempt to obtain confidential treatment of economic and trade secret information for which such
treatment is reasonably available in accordance with applicable laws and regulations and SEC practice. To that end, the filing Party shall, at least thirty (30) days in advance of any such filing, provide the other Party with a draft set of
redactions to the Agreement for which confidential treatment will be sought, and incorporate such other Party’s comments as to additional terms it would like to see redacted, and seek confidential treatment for such additional terms (except
only in the limited circumstances where confidential treatment is manifestly unavailable). 
 7.5 Publications. Neither
Party shall first publish or first present in a public forum the scientific or technical results of any activities performed pursuant to this Agreement without the opportunity for prior review by the other Party. Each Party agrees to provide the
other Party the opportunity to review any proposed abstracts, manuscripts or scientific presentations (including verbal presentations) which relate to its activities performed pursuant to this Agreement or any Licensed Product at least thirty
(30) days prior to their intended submission for publication and agrees, upon request, not to submit any such abstract or manuscript for

  

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publication until the other Party is given a reasonable period of time to secure patent protection for any material in such publication which it believes to be patentable. Both Parties understand
that a reasonable commercial strategy may require delay of publication of information or filing of patent applications first. The Parties agree to review and decide whether to delay publication to permit filing of patent applications. Neither Party
shall have the right to publish or present Confidential Information of the other Party. Nothing contained in this Section 7.5 shall prohibit the inclusion of information necessary for a patent application, provided the nonfiling Party is given
a reasonable opportunity to review the information to be included prior to submission of such patent application and to request deletion of its Confidential Information (subject to Section 7.2(a)). 
 ARTICLE 8 
 REPRESENTATIONS AND WARRANTIES 
 8.1 General Representations and Warranties. Each Party represents,
warrants and covenants to the other that: 
 (a) It is duly organized and validly existing under the laws of its state or
country of incorporation, and has full corporate power and authority to enter into this Agreement and to carry out the provisions hereof. 
 (b) It is duly authorized to execute and deliver this Agreement and to perform its obligations hereunder, and the person or persons executing this Agreement on its behalf has and have been duly
authorized to do so by all requisite corporate action. 
 (c) This Agreement is legally binding upon it and enforceable
in accordance with its terms. The execution, delivery and performance of this Agreement by it does not conflict with any agreement, instrument or understanding, oral or written, to which it is a party or by which it may be bound, nor violate any
material law or regulation of any court, governmental body or administrative or other agency having jurisdiction over it. 
 (d) It has not granted, and shall not grant during the Term of the Agreement, any right to any Third Party which would conflict with the rights granted to the other Party hereunder. It has (or shall have at the time performance is
due) maintained and shall maintain and keep in full force and effect all agreements necessary to perform its obligations hereunder. 
 (e) It is not aware of any action, suit or inquiry or investigation instituted by any governmental agency which questions or threatens the validity of this Agreement. 
 8.2 Kirin’s Warranties. Kirin represents and warrants that as of the Effective Date: 
 (a) The Listed Kirin Patents are owned or Controlled solely and exclusively by Kirin, free and clear of any liens, charges and
encumbrances, and no other person, corporate or other private entity, or governmental or university entity or subdivision thereof, has any valid claim of ownership with respect to the Listed Kirin Patents. 
  

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 (b) The Listed Kirin Patents include all Patents owned by Kirin anywhere in the
Aveo Territory, or anywhere in the world that may be extended into the Aveo Territory, that claim Licensed Compounds, the Licensed Product formulation that is currently in clinical testing in a Phase I Trial in Europe, the use of any of them, or any
method that is specific to manufacturing them or currently used by (or on behalf of) Kirin or its Affiliates (including by the Current Manufacturer) to manufacture any of them. The sole remedy for any unintentional breach of this representation and
warranty shall be for Kirin to update Exhibit B to reflect and include the unintentionally omitted Patent(s). 
 (c)
Neither Kirin nor its Affiliates has received any written notice of any claim that any Patent or trade secret right owned or controlled by a Third Party would be infringed or misappropriated by the manufacture, use, sale, offer for sale or
importation of Licensed Compounds or Licensed Products by Aveo, its Affiliates or Sublicensees, as contemplated by this Agreement. 
 (d) To the best of Kirin’s knowledge, (i) no proceeding is pending that challenges Kirin’s ownership or Control, as applicable, of the Licensed Patents, and (ii) the Licensed Patents are not subject to any pending
re-examination, opposition, interference or litigation proceedings. 
 (e) Neither Kirin nor its Affiliates is aware of
the existence of any documentation or publication or conduct by or on behalf of Kirin or its Affiliates, that would bring into question the validity or enforceability of the Listed Kirin Patents. 
 (f) To the best knowledge of Kirin and its Affiliates, the Licensed Patents and Licensed Know-How is not being infringed or
misappropriated by any Third Party, except where such infringement would not materially affect the rights granted to Aveo hereunder. 
 (g) There is no action, claim, demand, suit, proceeding, arbitration, grievance, citation, summons, or subpoena of any nature (civil, criminal, regulatory or otherwise), in law or in equity, pending or, to the best knowledge of Kirin
or its Affiliates threatened, against Kirin or its Affiliates relating to the Licensed Patents, the Licensed Know-How, the Licensed Compounds or the transaction contemplated by this Agreement. 
 (h) Neither Kirin nor its Affiliates has granted, expressly or otherwise, any assignment, license or other extension of right,
covenant not to sue, or other similar interest or benefit, exclusive or otherwise, to, under or in the Licensed Patents or the Licensed Know-How with respect to Licensed Compounds and/or Licensed Products in the Field for the Aveo Territory, and no
Third Party has retained any right, or other similar interest or benefit, exclusive or otherwise, to, under or in the Listed Kirin Patents in the Field for the Aveo Territory. 
 (i) Kirin has obtained rights to the current manufacturing process(es) for Licensed Compounds and/or Licensed Products developed
and/or used by Kirin, its Affiliates and/or the Current Manufacturer, sufficient to grant Aveo, its Affiliates and Sublicensees the exclusive right (subject to Section 4.4) to use such manufacturing process(es) for the development, manufacture
and commercialization of Licensed Compounds and Licensed Products for the Field in and for the Aveo Territory, as contemplated by this Agreement. 
  

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 (j) None of the Listed Kirin Patents or Licensed Know-How scheduled in Exhibit F
would require the payment of consideration by Kirin, its Affiliates or Other Licensees, or by Aveo, its Affiliates or Sublicensees to any Third Party in connection with the grant of rights to Aveo, its Affiliates or Sublicensees under this
Agreement, or the exercise of such rights by Aveo, its Affiliates or Sublicensees. 
 (k) Kirin has heretofore disclosed
to Aveo all material correspondence between Kirin and the FDA and any other Regulatory Authority or other governmental authority regarding the Licensed Compounds and Licensed Products (to be clear, to date there has been no such material
correspondence and therefore none has been disclosed to Aveo). 
 (l) The Know-How listed in Exhibit F is included in the
Licensed Know-How. 
 (m) The list of Third Party contracts set forth on Exhibit H is a complete and accurate list of all
Active Contracts existing as of the Effective Date relating to the Licensed Compound KRN951 and Licensed Products based on this Licensed Compound, each of such contracts is in full force and effect, and neither Kirin, nor, to the best of
Kirin’s knowledge, any Third Party to any such contract, is in breach or default of any such contract (at all, with respect to Kirin, or rising to a material level, with respect to counterparties to the Active Contracts as of the Effective
Date). To be clear, in accordance with Section 3.13, Active Contracts exclude confidentiality agreements and material transfer agreements. With respect to any material transfer agreements that have been entered into for Licensed Compounds or
Licensed Products, Kirin has obtained under each such agreement at least a non-exclusive license to all inventions made relating to such Licensed Compounds or Licensed Products. 
 8.3 Warranty of No Debarment. Each of Aveo and Kirin represents, warrants and covenants that in the course of the development of
Licensed Products or Licensed Product Biomarkers, such Party has not prior to the Effective Date used, and shall not during the Term use, any employee or consultant who has been debarred by the FDA or Regulatory Authorities, or, to the best of such
Party’s knowledge, who was or is the subject of debarment proceedings by the FDA or Regulatory Authorities. 
 8.4
Disclaimer Concerning Technology. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN, THE PATENTS AND KNOW-HOW PROVIDED BY EACH PARTY HEREUNDER ARE PROVIDED “AS IS” AND EACH PARTY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND,
EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION THE WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT OF THE INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES OR ARISING FROM A COURSE OF DEALING, USAGE OR TRADE
PRACTICES, IN ALL CASES WITH RESPECT THERETO. Without limiting the generality of the foregoing, each Party expressly does not warrant (i) the success of activities performed pursuant to this Agreement or (ii) the safety, efficacy or
usefulness for any purpose of the Patents or Know-How it provides under this Agreement or the subject matter of them. 
  

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 ARTICLE 9 
 INDEMNIFICATION 
 9.1 Indemnification by Aveo.
Aveo shall indemnify, hold harmless and defend Kirin, Kirin’s Affiliates, Kirin’s and its Affiliates’ Other Licensees and all of the respective officers, directors, employees and agents of each of the foregoing entities (collectively
the “Kirin Indemnitees”) from and against any and all losses, damages, liabilities, judgments, fines, amounts paid in settlement, expenses and costs of defense (including reasonable attorneys’ fees and witness fees)
(collectively “Losses”) resulting from any demand, claim, action or proceeding brought or initiated by a Third Party (each a “Third-Party Claim”) against any Kirin Indemnitees(s) to the extent that such Third-Party
Claim arises out of (i) the breach or alleged breach of any representation, warranty or covenant by Aveo in Article 8; (ii) the negligence or willful misconduct of any Aveo Indemnitee (defined in Section 9.2); or (iii) the
research, development, manufacture, storage, handling, use, sale, offer for sale or importation of Licensed Products or Licensed Product Biomarkers by or for the Aveo Indemnitees (as defined below) (to avoid any doubt, for this purpose, the Kirin
Indemnitees’ Licensed Compound, Licensed Product and Licensed Product Biomarker activities are not considered done by or for the Aveo Indemnitees); provided that (a) the Kirin Indemnitees comply with the procedure set forth in
Section 9.3; and (b) such indemnity shall not apply to the extent Kirin has an indemnification obligation pursuant to Section 9.2 for such Loss. Aveo shall require equivalent indemnification of the Kirin Indemnitees as in clause
(iii) of the foregoing sentence from each Sublicensee as to such Sublicensee’s activities described in such clause (iii). 
 9.2 Indemnification by Kirin. Kirin shall indemnify, hold harmless and defend Aveo, Aveo’s Affiliates, Aveo’s and its Affiliate’s Sublicensees and all of the respective officers, directors, employees and agents of each
of the foregoing entities (collectively the “Aveo Indemnitees”) from and against any and all Losses resulting from any Third-Party Claim against them to the extent that such Third-Party Claim arises out of (i) the breach or
alleged breach of any representation, warranty or covenant by Kirin in Article 8; (ii) the negligence or willful misconduct of any Kirin Indemnitee; or (iii) the development (which, for clarity, shall include all activities conducted prior
to the Transition Date (as defined in Section 9.4) in connection with the Current KRN951 Clinical Study), manufacture, storage, handling, use, sale, offer for sale or importation of Licensed Products or Licensed Product Biomarkers by or for
Kirin Indemnitees (to avoid any doubt, for this purpose, the Aveo Indemnitees’ Licensed Compound, Licensed Product, and Licensed Product Biomarker activities are not considered done by or for the Kirin Indemnitees) but excluding activities
conducted after the Transition Date by or for the Kirin Indemnitees in connection with the Current KRN951 Clinical Study; provided that (a) the Aveo Indemnitees comply with the procedure set forth in Section 9.3; and (b) such
indemnity shall not apply to the extent Aveo has an indemnification obligation pursuant to Section 9.1 for such Loss. 
 9.3 Procedure. To be eligible for its Kirin Indemnitees or Aveo Indemnitees (as applicable) to be indemnified hereunder, a Party shall provide the indemnifying Party with prompt notice of the Third-Party Claim giving rise to the
indemnification obligation pursuant to this Article 9 and the exclusive ability to defend (with the reasonable cooperation of the indemnified Party, at the defending Party’s expense on a pass-through basis) or settle any such claim;
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to be unreasonably withheld, delayed or conditioned. The indemnified Party shall have the right to participate, at its own expense and with counsel of its choice, in the defense of any claim or
suit that has been assumed by the indemnifying Party. If the Parties cannot agree as to the application of Sections 9.1 and 9.2 to any particular Third Party Claim, the Parties may conduct separate defenses of such Third Party Claim. Each Party
reserves the right to claim indemnity from the other in accordance with Sections 9.1 and 9.2 above upon resolution of the underlying claim, notwithstanding the provisions of this Section 9.3 requiring the indemnified Party to tender to the
indemnifying Party the exclusive ability to defend such claim or suit. 
 9.4 Insurance. 
 (a) General. Each Party shall procure and maintain insurance or self-insurance, including product liability insurance, adequate to
cover its obligations hereunder and which are consistent with normal business practices of prudent companies similarly situated, at all times during which any Licensed Product is being clinically tested in human subjects or commercially distributed
or sold by or on behalf of such Party. At a minimum, prior to the first Marketing Approval in a Party’s Territory, such Party shall be insured for [**] U.S. dollars (US$[**]) to cover its obligations under this Agreement. After Marketing
Approval, each Party shall be insured for a minimum of [**] U.S. dollars (US$[**]) to cover its obligations under this Agreement. It is understood that such insurance or self-insurance shall not be construed to create a limit of either Party’s
liability with respect to its indemnification obligations under this Article 9. Each Party shall provide the other with written evidence of such insurance or self-insurance upon request. Each Party shall provide the other with written notice at
least thirty (30) days prior to the cancellation, non renewal or material change in such insurance or self-insurance which materially adversely affects the rights of the other Party hereunder. 
 (b) Current KRN951 Clinical Study. Kirin currently maintains clinical trial insurance covering the Current KRN951 Clinical Study.
Promptly following the Effective Date, Aveo shall seek to obtain clinical trial insurance for the Current KRN951 Clinical Study, provided that Aveo may not be able to obtain such insurance until the sponsorship of the Current KRN951 Clinical
Study is transferred to Aveo pursuant to Section 3.9. As used herein, the term “Transition Date” means the date of transfer of the sponsorship of the Current KRN951 Clinical Study from Kirin to Aveo. Until the Transition Date,
Kirin shall maintain in force clinical trial insurance for the Current KRN951 Clinical Study; from and after the Transition Date, Aveo shall maintain in force clinical trial insurance for the Current KRN951 Clinical Study. 
 9.5 Limitation of Liability. EXCEPT TO THE EXTENT SUCH PARTY MAY BE REQUIRED TO INDEMNIFY THE OTHER PARTY UNDER THIS ARTICLE 9 OR IN
RESPECT OF A BREACH OF ARTICLE 7, NEITHER PARTY NOR ITS RESPECTIVE AFFILIATES AND LICENSEES (INCLUDING SUBLICENSEES AND OTHER LICENSEES) SHALL BE LIABLE FOR SPECIAL, INCIDENTAL, EXEMPLARY, CONSEQUENTIAL OR PUNITIVE DAMAGES, INCLUDING LOST PROFITS,
ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT, WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY OR OTHERWISE. 
  

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 ARTICLE 10 
 TERM AND TERMINATION 
 10.1 Term. This
Agreement shall become effective on the Effective Date and shall continue until it expires, with respect to each Licensed Product in each country of the Aveo Territory, upon the expiration of the last royalty or Sublicense Revenue sharing obligation
with respect to such Licensed Product in such country as set forth in Sections 5.3, 5.4 and 5.7, or is earlier terminated pursuant to this Article 10 (the “Term”). 
 10.2 Termination for Breach. 
 (a) Notice. If either Party believes that the other is in material breach of this Agreement, then the non-breaching Party may deliver written notice of such breach to the other Party;
provided that prior to sending any notice under this Section 10.2(a) with respect to a breach by Aveo of its obligations to use Commercially Reasonable Efforts, Kirin shall first follow the process set forth in Section 3.4. To be an
effective notice under this Section 10.2(a), the written notice must (i) explicitly reference this Section 10.2, and (ii) explicitly state that if the breach is not cured, the notifying Party will have the right to terminate this
Agreement. The allegedly breaching Party shall have [**] days from receipt of such notice to cure such breach; provided that the cure period shall be [**] days for breaches involving non-payment of any amount due hereunder. 
 (b) Failure to Cure. If the Party receiving notice of breach fails to cure such breach within such [**] day period (or [**] day
period in the case of non-payment breaches), the Party originally delivering the notice may terminate this Agreement effective immediately upon delivery of a second written notice to the allegedly breaching Party. 
 10.3 Disputes. If a Party gives notice of termination under Section 10.2, and the other Party disputes whether such notice was
proper, then the issue of whether this Agreement has been terminated shall be resolved in accordance with Article 11. If as a result of such dispute resolution process it is determined that the notice of termination was proper by reason of a
material breach of the Agreement and the breaching Party fails to cure such material breach within the applicable cure period after such determination, then such termination shall be deemed to be effective as of the date of the notice of
termination. If as a result of such dispute resolution process it is determined that the notice of termination was improper, then no termination shall have occurred and this Agreement shall remain in effect. 
 10.4 Elective Termination. Aveo shall have the right, in its sole discretion, to terminate this Agreement in its entirety or with
respect to (a) any country of the Aveo Territory that is not a Major Market Country, (b) the United States, or (c) all of the Major Market Countries of the European Union, (i) by providing not less than thirty (30) days
prior written notice of such termination to Kirin if a Third Party claims that a Licensed Compound or Licensed Product infringes such Third Party’s intellectual property in any country in the Aveo Territory, or (ii) by providing not less
than ninety (90) days written notice to Kirin if, in Aveo’s opinion, the safety, patient tolerability, efficacy, or the profile or the commercial viability of the Licensed Product does not justify continued development by Aveo, its
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by Aveo under this Section 10.4, this Agreement shall continue in full force and effect with respect to the countries of the Aveo Territory unaffected by such partial termination, and the
provisions of Sections 10.5 and 10.6 shall apply solely with respect to the countries of the Aveo Territory that are affected by such partial termination. If Aveo has failed to be diligent with respect to any Major Market Country with respect to
which it seeks to terminate, then termination with respect to such Major Market Country shall not relieve Aveo of responsibility for such diligence failure. 
 10.5 Survival. 
 (a) The following provisions shall survive any
expiration or termination of this Agreement: Articles 1 and 9-12 and Sections 3.6, 3.10 (to the extent required to permit either Party (or its Affiliate, Sublicensee, or Other Licensee) to fulfill its reporting obligations to Regulatory
Authorities), 4.5 (as qualified by Section 10.8 following the terminations covered by such Section), 4.6, 4.8, 4.9, 5.9-5.18 (to the extent necessary to govern mechanics of any accrued and any surviving payment obligations and related audits),
6.1, 6.2(c)-(e), 6.5 (as regards suits relating to allegedly infringing activities during the Term), 6.9, 7.1-7.4, and 8.4. 
 (b) Upon expiration of this Agreement with respect to a particular Licensed Product in a particular country, the licenses to Aveo pursuant to Section 4.1 shall automatically become, with respect to such Licensed Product and all
Licensed Product Biomarkers in such country, freely sublicensable, perpetual, non-exclusive, and fully paid. Unless this Agreement is earlier terminated as provided in this Article 10, the licenses granted to Kirin pursuant to Sections 4.5 and 4.6
shall survive until the expiration of this Agreement with respect to all Licensed Products and Licensed Product Biomarkers, at which time they shall automatically convert to become freely sublicensable, perpetual, non-exclusive, and fully paid.

 (c) Expiration and termination of this Agreement shall not relieve the Parties of any liability which accrued
hereunder prior to the effective date of such termination nor preclude either Party from pursuing all rights and remedies it may have hereunder or at law or in equity with respect to any breach of this Agreement nor prejudice either Party’s
right to obtain performance of any obligation. 
 10.6 Kirin’s Rights upon Certain Terminations. Upon termination of
this Agreement by Kirin under Section 10.2, or by Aveo under Section 10.4: 
 (a) License Termination. The
licenses granted by Kirin to Aveo under Article 4 shall terminate. 
 (b) License Grant; Patent and Know-How Assignment.
Effective upon termination as provided in the first sentence of this Section 10.6, Aveo hereby assigns to Kirin any and all Aveo Product IP owned by Aveo directly or through any Affiliate (including to avoid doubt, Aveo’s interest in all
Jointly Owned Product Patents), and if requested by Kirin in writing at the time, any manufacturing and any other contracts with respect to Licensed Compound, Licensed Product, or Licensed Product Biomarker. To the extent any Aveo Product IP is not
owned by but is instead licensed to Aveo, Aveo hereby grants to Kirin (effective upon such termination) an exclusive, irrevocable, perpetual, fully-paid sublicense under such Aveo Product IP, to the extent (in the case of Third

  

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Parties that are not Sublicensees or contractors covered under Section 3.14) permitted under Aveo’s agreement with the licensor of such Aveo Product IP. In the case of Third Parties
that are not Sublicensees or contractors covered under Section 3.14 Kirin shall pay Aveo or such Third Party licensor, as reasonably determined by Aveo, any payment due to such Third Party relating to such Aveo Product IP. In the case of
Sublicensees and contractors covered under Section 3.14, Aveo is required to obtain certain royalty-free licenses extendable to Kirin, its Affiliates and Other Licensees as provided above in this Agreement. 
 (c) Trademark License. At Kirin’s election, effective upon such a termination Aveo shall grant to Kirin an exclusive,
world-wide, fully paid, royalty-free license to use trademarks owned or controlled by Aveo and used solely in connection with the commercialization of Licensed Compounds, Licensed Products, and Licensed Product Biomarkers in the Aveo Territory.
Promptly after such termination, Aveo shall immediately discontinue all use of such trademarks, and Aveo shall execute any documents required to effectuate the license granted by this Section 10.6(c), and any good will that Aveo has acquired or
developed in any of the foregoing, to Kirin in the relevant country or countries of the Aveo Territory. 
 (d) Regulatory
Filings. To the extent permitted by law, Aveo shall transfer to Kirin all INDs, Marketing Approval Applications, Marketing Approvals and other regulatory filings related to any Licensed Compounds, Licensed Product or Licensed Product Biomarker
that Aveo holds as of the time of such termination. Aveo shall take all actions reasonably necessary to effect such transfer of such materials to Kirin. 
 (e) No Further Representations. Aveo shall discontinue making any representation regarding its status as a licensee of Kirin in the Aveo Territory for Licensed Compounds, Licensed Products and
Licensed Product Biomarkers and shall cease conducting all activities with respect to the marketing, promotion, sale or distribution of all of the foregoing. 
 (f) Transition Assistance. 
 (i) To the extent requested by Kirin,
for a period of [**] following the effective date of termination, Aveo shall also provide such assistance as may be reasonably necessary to transfer and/or transition over a reasonable period of time to Kirin any licenses and other contracts
specific to Licensed Compounds and Licensed Products (including clinical trial and manufacturing agreements with respect thereto), to the extent such agreements are in effect as of the effective date of termination and such assignment is permitted.

 (ii) In addition, to the extent that Aveo or an Aveo Affiliate or Sublicensee is then manufacturing Licensed Products
for the Aveo Territory, Aveo shall use Commercially Reasonable Efforts to (or cause its Affiliate or Sublicensee to) continue to manufacture Licensed Products for Kirin’s use in the Aveo Territory until the earlier of (i) [**] months after
the effective date of termination, and (ii) such time as Kirin has validated an alternative manufacturer, and quantities of Licensed Product supplied by such manufacturer may legally be sold in the Aveo Territory. Any such Licensed Product
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 (g) Remaining Inventories. Kirin shall have the right to purchase from Aveo all
of the inventory of Licensed Products and Licensed Product Biomarkers held by Aveo as of the effective date of termination at a price equal to Aveo’s fully burdened manufacturing cost, determined in accordance with GAAP, but only if the
following conditions are met as of the date of supply: (i) any such Licensed Compounds and Licensed Products meet the applicable release specifications; and (ii) the continued use of such Licensed Compounds and Licensed Products does not
cause objectively valid safety concerns for which Kirin is not willing to fully indemnify Aveo. Kirin shall notify Aveo within [**] months after termination whether Kirin elects to exercise such right. 
 (h) Affiliates and Sublicensees. Aveo shall cause its Affiliates and Sublicensees to comply with Section 10.6(a)-(g) as if
they were Aveo. 
 10.7 Treatment of Sublicensees. If this Agreement is terminated by Kirin pursuant to
Section 10.2, any Sublicense granted by Aveo in compliance with this Agreement the Sublicensee for which is then in good standing and has not contributed to the breach that led to termination (excluding only payment breaches) shall remain in
full force and effect pursuant to the terms thereof, notwithstanding such termination, but all monies and other obligations due thereunder shall become immediately due to Kirin instead of Aveo. The foregoing sentence only applies if the Sublicensee
promptly (within [**] days after termination) pays to Kirin any amounts due hereunder that have not by then been paid by Aveo, that are due hereunder in respect of the particular Sublicensee’s sublicensed territory. 
 10.8 Aveo’s Rights Upon Certain Terminations. If Aveo terminates this Agreement under Section 10.2, then the Parties’
rights and obligations under this Agreement shall remain in effect until the time this Agreement would otherwise have expired, provided that: (i) the rights and licenses granted to Aveo pursuant to Sections 4.1 and 4.2 shall survive,
provided that the provisions of Section 4.2(e) and (f) shall no longer apply; (ii) the rights and licenses granted to Kirin pursuant to Sections 4.5 and 4.6 shall immediately convert to become non-exclusive, and (iii) the
following provisions of the Agreement shall no longer apply: (A) Aveo’s obligations to share and discuss Aveo Annual Development Plans and Aveo Annual Clinical Development Plans with Kirin under Article 2; (B) Aveo’s obligations
to participate in Development Committee meetings in Article 2; (C) Aveo’s obligations under Sections 3.3, 3.7, 4.3, 4.7, 4.10, 4.12 (without implying any right or license for Aveo or its Affiliates or the Sublicensees to sell into the
Kirin Territory), and 4.13 (meaning that to the extent this subsection (C) relieves Aveo of certain performance obligations, the Sublicensees shall be relieved to the same extent); and (D) Kirin’s rights under Sections 3.3, 4.3, 4.7,
and 4.10. For purposes of the duration of the Parties’ obligations under Article 7, the Term shall be deemed to continue until the time it would otherwise have expired if Aveo had not terminated the Agreement. 
 ARTICLE 11 
 DISPUTE RESOLUTION 
 11.1 Seeking Consensus. If any dispute, controversy or claim arising out of or
relating to the validity, construction, enforceability, performance or breach of this Agreement arises between the Parties and cannot be resolved by the Development Committee pursuant to Section 2.2(f) (“Dispute”), then upon the
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executives with decision-making authority of each Party meet and discuss in good faith the matter. The written request shall explain the nature of the Dispute and refer to the relevant provisions
of the Agreement upon which the Dispute is based. The complaining Party shall also set forth a proposed solution to the problem, including a suggested time frame within which the Parties must act. The non-complaining Party must respond in writing
within [**] days of receiving the notice with an explanation, including references to the relevant provisions of the Agreement and a response to the proposed solution and suggested time frame for action. The complaining Party must initiate the
scheduling of this resolution meeting. The Parties shall have such senior executives, and other personnel as necessary, meet within [**] days after the initial request in writing by either Party. The Parties shall discuss possible options for
resolving the Dispute, including a discussion of whether mediation may be a useful mechanism for resolving the Dispute; provided that neither Party shall be obligated to enter into or participate in mediation. If the matter is not resolved
within [**] following the request for discussions, and the Parties have not agreed upon mediation, then either Party may then invoke arbitration in accordance with this Article 11. If mediation takes place and is unsuccessful, then either Party may
then invoke arbitration in accordance with this Article 11. 
 11.2 Arbitration, Rules and Place. Any Disputes not
resolved after all procedures under Section 11.1 may be referred by either Party to final and binding arbitration in accordance with the remainder of this Article 11 by written notice to the other Party. If a Party intends to begin an
arbitration to resolve a Dispute, such Party shall provide written notice by certified or registered mail to the other Party informing such other Party of such intention and the issues to be resolved. The complaining Party’s notice shall
include a detailed description of the Dispute. The arbitration shall be conducted in accordance with the rules of the International Chamber of Commerce Rules (“ICC Rules”) except to the extent of any conflict with this Article 11.
The Parties consent to the exclusive jurisdiction of such Dispute resolution mechanism. Any situation not expressly covered by this Agreement shall be decided in accordance with the ICC Rules. The arbitration shall take place in San Francisco,
U.S.A., and the arbitration proceeding shall be conducted in English. 
 11.3 Arbitrator. The arbitrator shall be one
(1) neutral, independent and impartial arbitrator with experience in the area of the Dispute selected pursuant to the ICC Rules; provided that upon the request of either Party, the arbitration will be submitted to a panel of three
(3) neutral, independent and impartial arbitrators with experience in the area of Dispute, with one (1) arbitrator selected by each of Kirin and Aveo and the third selected by the other two (2) arbitrators (collectively the
“arbitrator”). 
 11.4 Governing Law. This Agreement will be construed in accordance with, and governed
in all respects by, the laws of the State of New York (without giving effect to principles of conflicts of law). 
 11.5
Legal Fees. Subject to Section 11.8(c), each Party shall bear its own legal fees, costs and expenses. 
 11.6
Injunctive Relief. Provided a Party has made a sufficient showing, the arbitrator shall have the freedom to invoke, and the Parties agree to abide by, injunctive measures after either Party submits in writing for arbitration claims requiring
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Notwithstanding the foregoing or any other provision of this Article 11, the Parties shall have the right to request one or more provisional equitable remedies from a court of competent
jurisdiction in aid of arbitration. 
 11.7 Discovery. The Parties shall be entitled to discovery as provided in the ICC
Rules. To the extent such rules of discovery are within the discretion of the neutral arbitrator, it is the intent of the Parties that they be permitted to conduct meaningful discovery in order to minimize the potential for surprise at the
proceeding and encourage settlement prior to such proceeding, but that discovery not be unduly burdensome or delay the deadline in Section 11.8(a) for issuance of the arbitrator’s award. 
 11.8 Award. 
 (a) The power of the arbitrator to fashion procedures and remedies within the scope of this Agreement is recognized by the Parties as essential to the success of the arbitration process. The arbitrator shall not have the authority to
fashion remedies that would not be available to a judge hearing the same Dispute, and the arbitrator shall not be entitled to reform, modify or materially change this Agreement except in accordance with Section 12.13. The arbitrator is
encouraged to operate on this premise in an effort to reach a fair and just decision but shall fashion such rules and procedures to best approximate judicial rules and procedures except with respect to procedural time limits and delays (which shall
be set by the arbitrator). A written award shall be rendered by the arbitrator following a full comprehensive hearing, no later than twelve (12) months following the selection of the arbitrator as provided for in Section 11.3. 

(b) Reasons for the arbitrator’s decisions should be complete and explicit in the arbitrator’s award. The arbitrator
shall provide a full transcript and record of the proceedings as well as written decisions including all determinations of law and fact to the Parties within fifteen (15) days after the end of the arbitration proceedings. The written reasons
should also include the basis for any damages awarded and a statement of how the damages were calculated. 
 (c) The
arbitrator shall assess the costs of the arbitration, including administrative costs and arbitrator fees, and the reasonable attorneys’ fees and other legal expenses of the Party winning the arbitration (collectively “attorneys
fees”) against the Party losing the arbitration, unless he or she believes that neither Party is the clear loser, in which case the arbitrator shall divide the costs of arbitration according to his or her sole discretion, and the Parties
shall each be responsible for their respective attorneys’ fees. The precise sums of any award of attorneys fees, to a Party shall be determined after a bill of attorneys fees, expenses and costs has been presented following the award on the
merits. 
 (d) If as to any issue the arbitrator should determine under the applicable law that the position taken by a
Party is frivolous or that any wrongdoing they find is in callous disregard of law and equity or the rights of the other Party, the arbitrator may also award an appropriate allocation of the adversary’s reasonable attorney fees, costs and
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 (e) With respect to money damages, nothing contained herein shall be construed to
permit the arbitrator or any court or any other forum to award punitive, exemplary or consequential damages (except that a Party’s direct damages may include consequential damages paid to a Third Party covered by an indemnification obligation
hereunder). By entering into this agreement to arbitrate, the Parties expressly waive any claim for punitive, exemplary or consequential damages (except that a Party’s direct damages may include consequential damages paid to a Third Party
covered by an indemnification obligation hereunder). The only damages recoverable under this Agreement are direct compensatory damages, together with equitable (non-monetary) remedies as ordered by the arbitrator. 
 (f) The award shall include interest from the date of any damages incurred for breach of the Agreement, and from the date of the
award until paid in full, at a rate fixed by the arbitrator. 
 11.9 Payment. Any monetary award shall be paid in U.S.
dollars free of any tax, deduction or offset; and any costs or fees incident to enforcing the award shall, to the maximum extent permitted by law, be charged against the Party resisting enforcement. 
 11.10 Enforcement. Each Party agrees that such award may be entered in a court of competent jurisdiction, if necessary, to its
enforcement. 
 11.11 Confidentiality. The ADR proceeding shall be confidential and the arbitrator shall issue
appropriate protective orders to safeguard each Party’s Confidential Information. Except as required by law, no Party shall make (or instruct the arbitrator to make) any public announcement with respect to the proceedings or decision of the
arbitrator without prior written consent of each other Party. The existence of any Dispute submitted to ADR, and the award, shall be kept in confidence by the Parties and the arbitrator, except as required in connection with the enforcement of such
award or as otherwise required by applicable law. 
 11.12 Waiver. By agreeing to binding arbitration, the Parties
understand that they are waiving certain rights and protections which may otherwise be available if a Dispute were determined by a litigation in court, including the right to seek or obtain certain types of damages precluded by the arbitration
procedures set forth in this Article 11, the right to a trial by jury, and the right to invoke formal rules of procedure and evidence. 
 11.13 Survivability. Any duty to arbitrate under this Agreement shall remain in effect and be enforceable after termination of this Agreement for any reason. 
 ARTICLE 12 
 MISCELLANEOUS 
 12.1 Export Control. This Agreement is made subject to any restrictions concerning the export of products or technical information
from the United States of America or other countries which may be imposed upon or related to Kirin or Aveo from time to time. Each Party agrees that it shall not export, directly or indirectly, any technical information acquired from the other Party
under this Agreement or any products using such technical information to a location or in a manner that at the time of export requires an export license or other governmental approval, without first obtaining the written consent to do so from the
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 12.2 Entire Agreement; Amendment. This Agreement (including the Exhibits hereto)
sets forth the complete, final and exclusive agreement and all the covenants, promises, agreements, warranties, representations, conditions and understandings between the Parties hereto and supersedes and terminates all prior agreements and
understandings between the Parties (including the Prior Agreements with respect solely to (a) Confidential Information, and (b) inventions conceived under the Prior Agreements, including the “Inventions” as defined in the
Material Transfer Agreement referred to in clause (ii) of the definition of Prior Agreements). There are no covenants, promises, agreements, warranties, representations, conditions or understandings, either oral or written, between the Parties
other than as are set forth herein and therein. No subsequent alteration, amendment, change or addition to this Agreement shall be binding upon the Parties unless reduced to writing and signed by an authorized officer of each Party. 
 12.3 Bankruptcy. All rights and licenses granted under or pursuant to this Agreement by either Party to the other are and shall be
deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of rights to “intellectual property” as defined under Section 101(52) of the US. Bankruptcy Code. Each Party agrees that the other Party, as a
licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the U.S. Bankruptcy Code. Without limiting the foregoing, the Parties further agree that if a bankruptcy proceeding is commenced
by or against one Party (the “Debtor”) then, in the event the Debtor rejects this Agreement pursuant to Section 365 of the U.S. Bankruptcy Code or otherwise applicable law and the other Party elects to retain its rights
hereunder pursuant to Section 365(n) of the U.S. Bankruptcy Code or otherwise applicable law, the other Party shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all
embodiments of such intellectual property. The Parties further agree, without limiting the foregoing, that unless and until the Debtor rejects this Agreement pursuant to applicable law, the Debtor shall perform all of its obligations hereunder or
immediately provide to the other Party a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, and the same, if not already in the other Party’s
possession; provided, however, that upon assumption of this Agreement by the Debtor pursuant to Section 365 of the U.S. Bankruptcy Code or otherwise applicable law, the other Party shall promptly return all such tangible materials,
intellectual property and embodiments thereof that have been provided to it solely as a result of this Section 12.3. 
 12.4 Force Majeure. Both Parties shall be excused from the performance of their obligations under this Agreement to the extent that such performance is prevented by a Force Majeure and the nonperforming Party promptly provides notice
of the prevention to the other Party. Such excuse shall be continued so long as the condition constituting Force Majeure continues and the nonperforming Party takes reasonable efforts to remove the condition. For purposes of this Agreement,
“Force Majeure” means conditions beyond a Party’s reasonable control or ability to plan for, including acts of God, war, terrorism, civil commotion, labor strike or lock-out, epidemic, failure or default of public utilities or
common carriers, and destruction of production facilities or materials by fire, earthquake, storm or like catastrophe; provided, however, the payment of invoices due and owing hereunder shall not be excused by reason of a Force Majeure
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 12.5 Notices. Any notice required or permitted to be given under this Agreement
shall be in writing, shall specifically refer to this Agreement and shall be deemed to have been sufficiently given for all purposes if mailed by first class certified or registered mail, postage prepaid, express delivery service or personally
delivered. Unless otherwise specified in writing, the mailing addresses of the Parties shall be as described below. 
 If to
Kirin: 
 Kirin Brewery Co., Ltd. 
 6-26-1, Jingumae 
 Shibuya-ku, Tokyo, 150-8011 Japan 
 Attention: Vice President,
Licensing Department 
 Facsimile: + 81 (3) 5485 6720 
 with a required copy to: 
 Morrison & Foerster LLP 
 425 Market Street San

 Francisco, CA 94105 
 Attention: Laura O. Spiegelman 
 Facsimile: +1 (415) 268-7522 
 In the case of Aveo: 
 Aveo Pharmaceuticals, Inc. 
 75 Sidney Street 
 Cambridge, MA 02139 
 Attention: Chief Business Officer 
 Facsimile: (617) 995-4995 
 with a required copy to: 
 Wilmer Cutler Pickering Hale and Dorr
LLP 
 60 State Street 
 Boston, MA 02109 
 Attention: Steven D. Singer, Esq. 
 Facsimile No.:
(617) 526-5000 
 12.6 Maintenance of Records. Each Party shall keep and maintain all records required by law or
regulation with respect to Licensed Products and shall make copies of such records available to the other Party upon request. 
 12.7 Construction. This Agreement has been prepared jointly and shall not be strictly construed against either Party. Any reference in this Agreement to an Article, Section, subsection, paragraph, clause, Schedule or Exhibit shall be
deemed to be a

  

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reference to any Article, Section, subsection, paragraph, clause, Schedule or Exhibit, of or to, as the case may be, this Agreement. Except where the context otherwise requires, (a) any
definition of or reference to any agreement, instrument or other document refers to such agreement, instrument other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments,
supplements or modifications set forth herein or therein), (b) any reference to any laws refers to such laws as from time to time enacted, repealed or amended, (c) the words “herein,” “hereof” and hereunder,” and
words of similar import, refer to this Agreement in its entirety and not to any particular provision hereof, (d) the words “include,” “includes” and “including” shall be deemed to be followed by the phrase
“but not limited to,” “without limitation” or words of similar import. 
 12.8 Ambiguities.
Ambiguities, if any, in this Agreement shall not be construed against any Party, irrespective of which Party may be deemed to have authored the ambiguous provision. 
 12.9 Assignment. Neither this Agreement nor any right or obligation hereunder may be assigned or otherwise transferred by any Party without the consent of the other Party; provided, however,
that any Party may, without such consent, assign this Agreement, (a) in whole or in part (divided on a geographic basis but not otherwise), to any of its respective Affiliates; provided that such Party shall remain jointly and severally
liable with such Affiliate in respect of all obligations so assigned; such Affiliate has acknowledged and confirmed this in writing effective as of such assignment or other transfer; and such Affiliate shall be bound by this Agreement as if it were
a party to it as and to the identical extent applicable to the transferor; or (b) as a whole, if either Party merges with, or all or substantially all of its business or assets are acquired by, another entity (whether by merger, sale of assets,
sale of stock or otherwise) (an “M&A Event”), to the Party’s merger partner or the acquiror as part of that M&A Event. To avoid doubt, Aveo’s Affiliates having received partial assignment of this Agreement, even if
the Affiliate is later acquired by a Third Party, are not entitled to further assign rights under the partial assignment of this Agreement outside the Aveo and Aveo Affiliates corporate family; if an Aveo Affiliate leaves the Aveo and Aveo
Affiliates corporate family it must re-assign its rights under this Agreement to Aveo (or another Aveo Affiliate) prior to the departure from the family becoming effective. Each Party agrees that, notwithstanding any provisions of this Agreement to
the contrary, if this Agreement is assigned by a Party in connection with an M&A Event, such assignment shall not provide the non-assigning Party with rights or access to intellectual property or technology of the acquirer of the assigning
Party. Any permitted assignment shall be binding on the successors of the assigning Party. Any assignment or attempted assignment by either Party in violation of the terms of this Section 12.9 shall be null and void. In addition to the
foregoing, Aveo acknowledges that Kirin has publicly announced its plans to create a new pharmaceutical entity in July, 2007 (or thereabouts). Aveo hereby acknowledges and agrees that Kirin shall be entitled to assign this Agreement in connection
with the establishment of such entity, provided that Kirin shall remain jointly and severally liable with such assignee in respect of all obligations so assigned; such assignee has acknowledged and confirmed this in writing effective as of
such assignment or other transfer; and such assignee shall be bound by this Agreement as if it were a party to it as and to the identical extent applicable to Kirin. 
  

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 12.10 Performance by Affiliates. Each of the Parties acknowledge that obligations
under this Agreement may be performed by Affiliates of Kirin and Aveo, and each of Kirin and Aveo guarantee performance of this Agreement by its respective Affiliates. If any dispute arises out of the performance of this Agreement by an Affiliate,
or the alleged failure of an Affiliate to comply with the conditions and obligations of this Agreement, the Party seeking to resolve such dispute shall have the right do so directly with the other Party, without any obligation to first pursue an
action against, or recovery from, the Affiliate which is alleged to have caused a breach of this Agreement. 
 12.11
Independent Contractors. It is expressly agreed that Kirin and Aveo shall be independent contractors and that the relationship between them shall not constitute a partnership, joint venture or agency. Neither Kirin nor Aveo shall have the
authority to make any statements, representations or commitments of any kind, or to take any action, which shall be binding on the other Party, without the prior written consent of the other Party to do so. 
 12.12 Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. 
 12.13 Severability. If any provision of this
Agreement is held to be invalid or unenforceable in the alternative dispute resolution proceedings specified in Article 11 from which no court appeal can be or is taken, the provision shall be considered severed from this Agreement and shall not
serve to invalidate any remaining provisions hereof. The Parties shall make a good faith effort to replace any invalid or unenforceable provision with a valid and enforceable one such that the objectives contemplated by the Parties when entering
this Agreement may be realized. 
 12.14 Headings. The headings for each article and section in this Agreement have been
inserted for convenience of reference only and are not intended to limit or expand on the meaning of the language contained in the particular article or section. 
 12.15 No Waiver. Any delay in enforcing a Party’s rights under this Agreement or any waiver as to a particular default or other matter shall not constitute a waiver of such Party’s rights
to the subsequent enforcement of its rights under this Agreement, excepting only as to an express written and signed waiver as to a particular matter for a particular period of time executed by an authorized officer of the waiving Party. 

12.16 Costs. Each Party shall bear its own legal costs of and incidental to the preparation, negotiation and execution of this
Agreement. 
 [Remainder of page intentionally left blank.] 
  

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 IN WITNESS WHEREOF, Kirin and Aveo execute this Agreement by the hands of their duly
authorized officers, effective as of the Effective Date: 
  

									
	Kirin Brewery, Co., Ltd.	 		 	AVEO Pharmaceuticals, Inc.
					
	By:	 	 /s/ Katsuhiko Asano
	 		 	By:	 	 /s/ Tuan Ha-Ngoc

	Name:	 	Katsuhiko Asano	 		 	Name:	 	Tuan Ha-Ngoc
	Title:	 	Managing Executive Officer,	 		 	Title:	 	President and CEO
		 	President of Pharmaceutical Division	 		 		 	

  

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 LIST OF EXHIBITS 
  

			
	Exhibit A —	 	Asian Countries
		
	Exhibit B —	 	List of Patent Families for Listed Kirin Patents
		
	Exhibit C —	 	[Intentionally Omitted]
		
	Exhibit D —	 	Inventory of Licensed Compound and Licensed Product That Will be Transferred; Specifications for Supplied Materials
		
	Exhibit E —	 	Timeline for Diligence Goals
		
	Exhibit F —	 	Existing Licensed Know-How
		
	Exhibit G —	 	Initial Public Announcement
		
	Exhibit H —	 	Certain Kirin Third-Party Contracts for KRN951
		
	Exhibit I —	 	Bill of Sale for Finished Product at [**]

  

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 EXHIBIT A 
 ASIAN COUNTRIES 
 Afghanistan 
 Bahrain 
 Bangladesh 
 Bhutan 
 Brunei 
 Cambodia 
 India 
 Indonesia 
 Iran 
 Iraq 
 Israel 
 Japan 
 Jordan 
 Kuwait 
 Laos 
 Lebanon 
 Malaysia 
 Maldives 
 Mongolia 
 Myanmar 
 Nepal 
 North Korea 
 Oman 
 Pakistan 
 Peoples Republic of China (including Hong
Kong and Macao) 
 Philippines 
 Qatar

 Saudi Arabia 
 Singapore 

South Korea 
 Sri Lanka 
 Syria 
 Taiwan 
 Thailand 
 Timor-Leste 
 Turkey 
 United Arab Emirates 
 Vietnam 
 Yemen 
  

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 EXHIBIT B 
 LIST OF PATENT FAMILIES 
 Families 
 [**] 
 Confidential Materials omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. A total of 3 pages were omitted. 
  

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 EXHIBIT C 
 [Intentionally Omitted] 
  

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 EXHIBIT D 
 INVENTORY OF LICENSED COMPOUND AND LICENSED PRODUCT 
 THAT WILL BE TRANSFERRED; 
 SPECIFICATIONS FOR SUPPLIED MATERIALS 
 Bulk Drug Substance Containing KRN951 
 [**] Kg at $[**]/Kg 
 Finished Licensed Product Containing KRN951 
 About [**] 1.0 mg capsules at $[**]/1,000 capsules 
 About [**] 1.5 mg capsules at $[**]/1,000 capsules 
 About [**] 2.0 mg capsules at
$[**]/1,000 capsules 
 Specifications for KRN951 Drug Substance 
  

			
	 Test name
	  	 Specifications

	Appearance	  	[**]
	Identification	  	[**]
	Related substances	  	
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 Total
	  	[**]
	Organic volatile impurities	  	
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	Water	  	[**]
	Assay	  	[**]
	[**]	  	[**]

  

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 Specifications for KRN951 Drug Product 
  

			
	 Test name
	  	 Specifications

	Appearance	  	[**]
	Related substances	  	
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 Other individual impurities
	  	[**]
	 Total impurities
	  	[**]
	Dissolution	  	[**]
	Assay	  	[**]

  

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 EXHIBIT E 
 TIMELINE FOR DILIGENCE GOALS 
 [**] 
  

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 EXHIBIT F 
 EXISTING LICENSED KNOW-HOW 
  

																					
	 Category I
	  	 Category II
	  	 Report No.
	  	 J/E
	  	 Date of
Report
	  	 Study title
	  	 GXP
	  	 Facility
	  	 Provided
to Aveo?
	  	 Contract
Active?
	  	 pdf file name

											
	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	

 Confidential Materials omitted and filed separately with the Securities and Exchange Commission
pursuant to a request for confidential treatment. A total of 24 pages were omitted. 

 CONFIDENTIAL 
 EXECUTION COPY 
 EXHIBIT G 
 INITIAL PUBLIC ANNOUNCEMENT 
 

 
  

			
	AVEO PHARMACEUTICALS	  	NOONAN RUSSO (MEDIA)
		
	Tuan Ha-Ngoc	  	Benjamin Carmichael
	President & CEO	  	Account Executive
	thangoc@aveopharma.com	  	Benjamin.Carmichael@eurorscg.com
	(617) 299-5969	  	(212) 845-4242

 AVEO ACQUIRES CLINICAL STAGE ANTI-CANCER COMPOUND FROM KIRIN 
 - AVEO adds Phase II-ready VEGF receptor inhibitor to growing product portfolio - 
 CAMBRIDGE, Mass. Jan. xx, 2007 – AVEO Pharmaceuticals, Inc., a biopharmaceutical company focused on the discovery and
development of novel cancer medicines, today announced it has acquired from Kirin Brewery Co., Ltd. an exclusive license to develop and commercialize Kirin’s highly potent and selective, once-a-day, oral VEGF receptor inhibitor, KRN951, in all
territories outside of Asia. Financial terms of the agreement were not disclosed. 
 KRN951 is currently completing a 30-patient
Phase I clinical trial in patients with advanced solid tumors in which the maximum tolerated dose of KRN951 has been established. Results recently presented at the EORTC-NCI-AACR meeting in Prague by lead investigator Dr. Ferry Eskens of the
Department of Medical Oncology, Erasmus Medical Center in Rotterdam, found that of seven patients with refractory renal cell carcinoma enrolled to date, all have achieved either a partial response or stable disease as defined by the trial protocol,
with one patient exhibiting a response lasting more than 2.5 years. Treatment with KRN951 in the trial was well-tolerated. The most common side effect seen in the trial was hypertension — an expected mechanism-based toxicity. Blood pressure was
readily controlled by standard antihypertensive agents in all but one of the patients who developed hypertension during the trial. 
 AVEO expects to commence Phase II clinical studies for KRN951 by mid-2007. Given the strong activity signal in the Phase I trial, AVEO initially plans to develop KRN951 for the treatment of renal cell
carcinoma, but also intends to develop this well-tolerated VEGF receptor inhibitor as a combination treatment in multiple solid tumor types. AVEO will apply its unique Human Response PredictionTM Platform to identify optimal chemotherapy combinations, as well as additional patient populations likely
to respond to KRN951 monotherapy and combination therapy. 

 CONFIDENTIAL 
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 “The licensing of KRN951 is a significant event for AVEO, as we continue to build
out a clinical-stage portfolio of targeted therapies intended to serve major unmet medical needs in cancer,” said Tuan Ha-Ngoc, president and chief executive officer of AVEO. “AVEO’s strategy has been to develop a balanced portfolio
of products that address the major pathways implicated in cancer. Like AV-412, AVEO’s EGFR/HER2 inhibitor currently in Phase I clinical trials, KRN951 is directed against a validated target demonstrated to be important in multiple cancer types
but has unique properties that confer upon it the real potential to become best-in-class.” 
 “The benefit of VEGF
receptor inhibition in multiple tumor types is now well-accepted,” added Dr. Rick Klausner, former director of the National Cancer Institute and a member of AVEO’s Scientific Advisory Board. “Notwithstanding this, however, the
field also recognizes that, as has been the case with many other novel mechanisms, first generation inhibitors may be sub-optimal in important respects. There is no doubt that a significant opportunity remains for a potent, specific, and
well-tolerated VEGF receptor inhibitor, particularly one with the target selectivity of this compound, that can easily be combined with other anti-cancer drugs.” 
 “We are very pleased to be partnering KRN951 with AVEO,” said Katsuhiko Asano, President of Pharmaceutical Division, Kirin Brewery Co., Ltd. “Although Kirin had the opportunity to partner
KRN951 with a number of different companies, we believe that AVEO’s unique expertise in cancer biology and commitment to translational medicine offer the best chance for realizing the benefit that KRN951 may have for cancer patients.”

 About KRN951 
 KRN951 is a novel, oral angiogenesis inhibitor that is highly potent and specific for VEGF receptors 1, 2 and 3. Angiogenesis inhibition has demonstrated benefit for patients with a wide range of cancer
types, including renal cell carcinoma, metastatic breast cancer, colorectal cancer, and non-small cell lung cancer. Due to its specificity, KRN951 may be more readily combined with standard chemotherapy as well as other targeted therapies,
potentially increasing the breadth of its clinical utility. AVEO’s translational research effort, comprising its Human Response PredictionTM Platform, offers an opportunity to exploit KRN951’s unique characteristics and will provide further insight into
potential clinical settings, tumor subtypes and responsive patient populations. 
 About AVEO 
 AVEO is a private biopharmaceutical company focused on the discovery and development of novel cancer therapeutics. The Company utilizes its
proprietary, genetically-defined cancer models for the identification and validation of novel cancer targets, and has begun to build an impressive portfolio of drug discovery and development programs around these high-value targets. AVEO also uses
its Human Response PredictionTM Platform to identify genetic profiles that correspond with patient responsiveness. AVEO expects to commence Phase 2 clinical studies by mid-2007 for KRN951, its oral, second-generation VEGF receptor inhibitor and
most advanced clinical program. AV-412, AVEO’s EGFR/HER2 inhibitor, is currently in Phase I clinical trials. AV-299, a novel anti-HGF mAb, is currently being manufactured by Xoma under a supply agreement in anticipation of entering the clinic
in early 2008. AVEO is located in Cambridge, Massachusetts. For more information, please visit the company’s website at www.aveopharma.com. 

 CONFIDENTIAL 
 EXECUTION COPY 
  

 About Kirin Brewery Co., Ltd. 
 Kirin Brewery Co., Ltd. is a research-driven company, producing a wide range of consumer food and pharmaceutical products. Kirin focuses on
its areas of strength: kidney disease, cancer and hematology, immune disorder and infectious diseases. It markets erythropoietin for end-stage renal disease and G-CSF for cancer patients in Asia. The company is committed to scientific progress,
pharmaceutical advancement and the creation of products that benefit worldwide people’s welfare. More information about the company can be found by visiting http://www.kirin.co.jp/. 

 CONFIDENTIAL 
 EXECUTION COPY 
 EXHIBIT H 
 CERTAIN KIRIN THIRD-PARTY CONTRACTS FOR KRN951

 [**] 

 CONFIDENTIAL 
 EXECUTION COPY 
 EXHIBIT I 
 BILL OF SALE FOR FINISHED PRODUCT
AT [**] 
 This BILL OF SALE is entered
into as of December     , 2006 (the “Effective Date”) by and between KIRIN BREWERY, CO., LTD, a Japanese corporation with its
principal offices at 10-1, Shinkawa 2-chome, Chuo-ku, Tokyo, 104-8288 Japan (“Kirin”), and AVEO PHARMACEUTICALS, INC., a Delaware corporation with its principal offices at 75 Sidney Street,
Cambridge, MA 02139 United States (“Aveo”). 
 Recitals 
 WHEREAS, Aveo and Kirin are parties to a License Agreement dated as of December
    , 2006 (the “Agreement”); and 
 WHEREAS, Aveo and
Kirin now desire to carry out the intent and purpose of the Agreement by Kirin’s execution and delivery to Aveo of this instrument evidencing the conveyance, assignment, transfer and delivery of certain quantities of KRN951 finished product
currently in the possession of [**] or hereafter produced by [**] in fulfillment of the Settlement Agreement dated 14 September 2006 between Kirin and [**] (which agreement Kirin is assigning to Aveo), as referenced in Section 3.11(a) of
the Agreement and enumerated in Exhibit A to this Bill of Sale (the “Transferred Product Quantities”); 
 NOW, THEREFORE, in consideration of the covenants set forth in the Agreement, Kirin does hereby sell to Aveo, all of Kirin’s right, title and interest in and to the Transferred
Product Quantities, subject to the terms and conditions of the Agreement. 
 Kirin hereby authorizes [**] to release and provide
the Transferred Product Quantities to Aveo without the need for further instructions from Kirin. 
 If any provision of this
Bill of Sale conflicts with a provision in the Agreement, the provision in the Agreement shall be deemed to be controlling and shall prevail. This Bill of Sale does not in any way amend, alter or modify, nor shall it be used to interpret, the terms
of the Agreement. This instrument shall be binding upon and shall inure to the benefit of the successors and assigns of Aveo. This Bill of Sale shall be construed and enforced in accordance with the laws (other than the conflict of law rules) of the
State of New York. 
 IN WITNESS WHEREOF, Kirin has executed,
made and delivered this Bill of Sale as of the Effective Date and Aveo has acknowledged this. 
  

									
	Kirin Brewery, Co., Ltd.	 		 	Acknowledged by AVEO
		 		 		 	Pharmaceuticals, Inc.
					
	By:	 	  
	 		 	By:	 	  

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

 CONFIDENTIAL 
 EXECUTION COPY 
  

 EXHIBIT A TO BILL OF SALE 
 INVENTORY OF EXISTING TRANSFERRED PRODUCT QUANTITIES 
 KRN951 Inventory List 
 The
following table shows the inventory of KRN951, bulk capsules and packaged capsule (bottle or box) at [**] as of December 15, 2006. 
  

																							
	 No.
	  	 PMID
	  	 Lot. No.
	  	 Batch No.
	  	 Description
	  	 Strength
	  	 Purpose
	  	 Process
	  	 Remaining
Amount
	  	 Shipment /
Dispense
	  	 Expiry
Date
	  	 
												
	1	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
												
	2	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
												
	3	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]
												
	4	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]	  	[**]

 Additionally, the Bill of Sale covers all quantities of KRN951 produced or to be produced under the
Settlement Agreement dated 14 September 2006 between Kirin and [**].First Amended and Restated License and Research Collaboration Agreement

 Exhibit 10.23 
 Execution Copy 
 Confidential Materials omitted and filed separately with the

 Securities and Exchange Commission. Asterisks denote omissions. 
 FIRST AMENDED AND RESTATED 
 LICENSE AND 
 RESEARCH COLLABORATION 
 AGREEMENT 
 between 
 MERCK & CO., INC. 
 and 
 AVEO PHARMACEUTICALS, INC. 

							
	 1.
	 	 DEFINITIONS
	  	1
			
	 2.
	 	 RESEARCH PROGRAM
	  	13
				
		 	 2.1
	  	 General
	  	13
				
		 	 2.2
	  	 Conduct of Research
	  	13
				
		 	 2.3
	  	 Use of Research Funding
	  	13
				
		 	 2.4
	  	 Joint Research Committee
	  	14
				
		 	 2.5
	  	 Exchange of Information
	  	15
				
		 	 2.6
	  	 Records and Reports
	  	15
				
		 	 2.7
	  	 Research Information and Inventions
	  	16
				
		 	 2.8
	  	 Research Program Term
	  	16
				
		 	 2.9
	  	 AVEO In Vivo Validation Research and Development Funding
	  	17
				
		 	 2.10
	  	 Pilot Experiments
	  	17
				
		 	 2.11
	  	 Compliance
	  	18
				
		 	 2.12
	  	 Exclusive Efforts
	  	18
			
	 3.
	 	 LICENSE; EXCHANGE OF INFORMATION; DEVELOPMENT AND COMMERCIALIZATION
	  	18
				
		 	 3.1
	  	 License Grant
	  	18
				
		 	 3.2
	  	 Covenants Not to Sue
	  	20
				
		 	 3.3
	  	 Section 365(n) of the Bankruptcy Code
	  	21
				
		 	 3.4
	  	 Exclusive Option for Non-MAP Collaboration Targets
	  	21
				
		 	 3.5
	  	 Research, Development and Commercialization
	  	27
				
		 	 3.6
	  	 Excused Performance
	  	28
			
	 4.
	 	 CONFIDENTIALITY AND PUBLICATION
	  	29
				
		 	 4.1
	  	 Nondisclosure Obligation
	  	29
				
		 	 4.2
	  	 AVEO Know-How
	  	30
				
		 	 4.3
	  	 Publication
	  	31
				
		 	 4.4
	  	 Publicity/Use of Names
	  	31
			
	 5.
	 	 PAYMENTS; ROYALTIES AND REPORTS
	  	32
				
		 	 5.1
	  	 Upfront Payment
	  	32

  

 i 

							
				
		 	 5.2
	  	 Research Program Funding
	  	33
				
		 	 5.3
	  	 Milestone Payments
	  	33
				
		 	 5.4
	  	 Royalties
	  	34
				
		 	 5.5
	  	 Audits
	  	36
				
		 	 5.6
	  	 Payment Exchange Rate
	  	37
				
		 	 5.7
	  	 Income Tax Withholding
	  	37
			
	 6.
	 	 REPRESENTATIONS AND WARRANTIES
	  	38
				
		 	 6.1
	  	 Representations and Warranties of AVEO
	  	38
				
		 	 6.2
	  	 Representations and Warranties of MERCK
	  	38
				
		 	 6.3
	  	 No Warranties
	  	38
				
		 	 6.4
	  	 Indemnification
	  	39
				
		 	 6.5
	  	 Third Party License Agreements
	  	39
			
	 7.
	 	 PATENT PROVISIONS
	  	39
				
		 	 7.1
	  	 Filing, Prosecution and Maintenance of Patents
	  	39
				
		 	 7.2
	  	 Interference, Opposition, Reexamination and Reissue
	  	40
				
		 	 7.3
	  	 Enforcement and Defense
	  	41
				
		 	 7.4
	  	 Patent Term Extension
	  	43
			
	 8.
	 	 TERM AND TERMINATION
	  	43
				
		 	 8.1
	  	 Term and Expiration
	  	43
				
		 	 8.2
	  	 Termination of Agreement by MERCK
	  	43
				
		 	 8.3
	  	 Termination of Agreement for Cause
	  	44
				
		 	 8.4
	  	 Effect of Expiration or Termination: Survival
	  	45
			
	 9.
	 	 MISCELLANEOUS
	  	45
				
		 	 9.1
	  	 Force Majeure
	  	45
				
		 	 9.2
	  	 Assignment/Change of Control
	  	45
				
		 	 9.3
	  	 Severability
	  	46
				
		 	 9.4
	  	 Notices
	  	47
				
		 	 9.5
	  	 Applicable Law
	  	47

  

 ii 

							
				
		 	 9.6
	  	 Dispute Resolution
	  	48
				
		 	 9.7
	  	 Entire Agreement; Amendments
	  	49
				
		 	 9.8
	  	 Headings
	  	49
				
		 	 9.9
	  	 Independent Contractors
	  	49
				
		 	 9.10
	  	 Waiver
	  	49
				
		 	 9.11
	  	 Cumulative Remedies
	  	49
				
		 	 9.12
	  	 Waiver of Rule of Construction
	  	49
				
		 	 9.13
	  	 Counterparts
	  	49

  

 iii 

 FIRST AMENDED AND RESTATED 
 LICENSE AND RESEARCH COLLABORATION AGREEMENT 
 This
First Amended and Restated License and Research Collaboration Agreement (the “Agreement”), effective as of April 13, 2005 (the “Restatement Effective Date”) by and between MERCK & CO., INC., a
corporation organized and existing under the laws of New Jersey (“MERCK”), and AVEO PHARMACEUTICALS, INC. (formerly known as GenPath Pharmaceuticals, Inc. or “GENPATH”), a corporation organized and existing under the laws
of Delaware (“AVEO”), amends, supersedes, and restates in its entirety, the License and Research Collaboration Agreement effective as of November 10, 2003 (the “Effective Date”) by and between MERCK and GENPATH
(the “Prior Agreement”). 
 RECITALS: 
 WHEREAS, AVEO has developed AVEO Know-How (as hereinafter defined) and has rights to AVEO Patent Rights (as hereinafter defined);

 WHEREAS, pursuant to the terms and conditions of the Prior Agreement, MERCK and GENPATH entered into a research
collaboration to discover targets suitable for the development of small molecule oncology therapeutic and/or prophylactic agents which target essential tumor maintenance genes; and 
 WHEREAS, MERCK and AVEO wish to amend and restate the Prior Agreement in its entirety upon the terms and conditions set forth
herein. 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained,
the Parties (as hereinafter defined) hereby agree as follows: 
  

	1.	DEFINITIONS 

 Unless
specifically set forth to the contrary herein, the following terms, whether used in the singular or plural, shall have the respective meanings set forth below: 
  

	1.1	“Additional Targets” means Targets which (a) have been identified by or on behalf of AVEO other than in the course of the Research Program
(“Additional Model Targets”) or (b) are identified in the course of the Research Program and are tractable only for Biologicals (“Additional Biological Targets”), or (c) are identified in the course of the
Research Program and are tractable both for chemical entities and Biologicals (“Additional Dual Targets”). 

  

	1.2	“Affiliate” means (i) any corporation or business entity of which fifty percent (50%) or more of the securities or other ownership
interests representing the equity, the voting stock or general partnership interest are owned, controlled or held, directly or indirectly, by MERCK or AVEO; or (ii) any corporation or business entity which, directly or indirectly, owns,
controls or holds fifty percent (50%) (or the maximum ownership interest permitted by law) or more of the securities or other ownership interests representing the equity, the voting stock or, if applicable, the general partnership interest, of
MERCK or AVEO; or (iii) any corporation or business entity of which fifty percent (50%) or more of the securities or other ownership interests representing the equity, the voting stock or general partnership interest are owned, controlled
or held, directly or indirectly, by a corporation or business entity described in (i) or (ii). 

  

 -1- 

	1.3	“Available Retained Target” has the meaning set forth in Section 3.4.2(d)(iii). 

  

	1.4	“AVEO Genetic Screen Data” means all data with respect to Potential Collaboration Targets generated by AVEO in conducting the MaSS Screen under
the Research Program using the Collaboration Models. 

  

	1.5	“AVEO Information and Inventions” means all discoveries, processes, methods, protocols, formulas, data, Inventions, know-how and trade secrets,
patentable or otherwise, which (a) arise from the Research Program, (b) are necessary or useful to MERCK in the research of the Non-MAP Collaboration Target or MAP Collaboration Target, and/or the research, development, manufacture,
marketing, use or sale of Collaboration Compound or Product in the Territory in the Field, and (c) are developed or invented solely by employees of AVEO or other persons not employed by MERCK acting on behalf of AVEO. Notwithstanding the
foregoing, AVEO Information and Inventions shall not include any discoveries, processes, methods, protocols, formulas, data, Inventions, know-how and trade secrets, patentable or otherwise, that are necessary or useful in connection with or that
claim or cover the Collaboration Models or any other method, material, tool or technology conceived or used by or on behalf of AVEO for the discovery of any target other than the Non-MAP Collaboration Targets or the MAP Collaboration Targets.

  

	1.6	“AVEO Know-How” means all information and materials, including but not limited to, discoveries, processes, methods, protocols, formulas, data,
inventions (including without limitation AVEO Information and Inventions and AVEO’s rights in Joint Information and Inventions), know-how and trade secrets, patentable or otherwise, which during the term of this Agreement (i) are in the
Control of AVEO or its Affiliates, (ii) are not generally known and (iii) are necessary or useful to MERCK in the research of the Non-MAP Collaboration Targets or the MAP Collaboration Targets, and/or the research, development,
manufacture, marketing, use or sale of Collaboration Compound or Product in the Territory in the Field. Notwithstanding the foregoing, AVEO Know-How shall not include any information and materials, including but not limited to, discoveries,
processes, methods, protocols, formulas, data, inventions, know-how and trade secrets, patentable or otherwise that are necessary or useful in connection with or that claim or cover the Collaboration Models or any other method, material, tool or
technology conceived or used by or on behalf of AVEO for the discovery of any target other than the Non-MAP Collaboration Targets or the MAP Collaboration Targets. 

  

	1.7	 “AVEO Patent Rights” means any and all Patent Rights which during the term of this Agreement are Controlled by AVEO, including,
but not limited to, those listed on Subpart A of Schedule 1.7, which schedule shall be updated by AVEO reasonably promptly upon the filing of such Patent Rights or otherwise at the request of MERCK, and which: (i) claim the composition of

  

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matter of a Collaboration Compound and/or Product or the use of a Collaboration Compound and/or Product Directed to a Non-MAP Collaboration Target or Discovery Target; (ii) claim AVEO
Know-How; (iii) claim AVEO Information and Inventions, or (iv) are necessary or useful to MERCK in the research of the Non-MAP Collaboration Targets or the MAP Collaboration Targets, and/or the research, development, manufacture,
marketing, use or sale of Collaboration Compound or Product in the Territory in the Field, but excluding all Patent Rights which are necessary or useful in connection with or that claim or cover the Collaboration Models or any other method,
material, tool or technology conceived or used by or on behalf of AVEO for the discovery of any target other than the Non-MAP Collaboration Targets or the MAP Collaboration Targets. 

  

	1.8	“AVEO Targets” has the meaning set forth in Section 3.1.7. 

  

	1.9	“Biological” means: (i) antibodies; and/or (ii) other polypeptides, polypeptides that are genetically or chemically fused to a
stabilizing protein, peptide aptamers, proteins, protein-constructs, fusion proteins, including without limitation purified proteins, lipoproteins, glycoproteins, and nucleotide consisting of either modified or unmodified DNA or RNA sequences,
including without limitation single-stranded or double-stranded or a combination of both. For avoidance of doubt, small molecules that are fused to a stabilizing protein shall not be considered Biologicals. 

  

	1.10 	“Calendar Quarter” means the respective periods of three (3) consecutive calendar months ending on
March 31, June 30, September 30 and December 31. 

  

	1.11 	“Calendar Year” means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

  

	1.12 	“Change of Control” means with respect to a Party: (1) a sale of all or substantially all of such Party’s assets, voting stock or
securities or business relating to this Agreement; (2) a merger, reorganization or consolidation involving a Party in which the stockholders of such Party immediately prior to such transaction cease to own collectively a majority of the voting
equity securities of a successor entity; or (3) a person or group of persons acting in concert (other than, in the case of AVEO, current stockholders of AVEO) acquire fifty percent (50%) or more of the voting equity securities of such
Party. 

  

	1.13 	“Clinical Trial(s)” means a Phase II Clinical Trial or a Phase III Clinical Trial. 

  

	1.14 	“Collaboration Compound” means: 

 (a) with respect to a Non-MAP Collaboration Target that is not an Additional Biological Target or an Additional Dual Target, a chemical entity, other than a Biological, which is intended to and actually
inhibits or modulates the activity of such Target; 
 (b) with respect to a Non-MAP Collaboration Target that is an Additional
Biological Target and that the Parties expressly agree in writing pursuant to Section 3.7.1 to designate as a Potential Collaboration Target, a Biological which is intended to and actually inhibits or modulates the activity of such Target; or

  

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 (c) with respect to a Non-MAP Collaboration Target that is an Additional Dual Target,
(i) a chemical entity, other than a Biological, which is intended to and actually inhibits or modulates the activity of such Target and (ii) subject to the express prior written agreement of the Parties pursuant to Section 3.7.3, a
Biological which is intended to and actually inhibits or modulates the activity of such Target. 
 For purposes of clarity, a
“Collaboration Compound” does not include: (x) a chemical entity, or (y) a Biological, or (z) a chemical entity and a Biological, which (1) is being developed by MERCK as an inhibitor or modulator of a MAP
Nominated Target or a MAP Collaboration Target, and (2) is primarily intended to and actually inhibits or modulates the activity of a MAP Nominated Target or a MAP Collaboration Target. 
  

	1.15 	“Collaboration Model” means: (a) [**], as each of such models are more fully described in the Research Plan; and/or (d) additional
models, if any, which the Parties specifically agree shall be Collaboration Models pursuant to the Research Plan. 

  

	1.16 	“Combination Product” means a Product which includes one or more Collaboration Compound(s) in combination with one or more clinically active
components that are not Collaboration Compounds. All references to Product in this Agreement shall be deemed to include Combination Product. 

  

	1.17 	“Commercially Reasonable Efforts” means with respect to the efforts to be expended by a Party with respect to any objective, reasonable, good
faith efforts to accomplish such objective as such Party would normally use to accomplish a similar objective under similar circumstances, it being understood and agreed that with respect to the development or commercialization of a Product, such
efforts shall be similar to those efforts and resources commonly used by a Party for a similar pharmaceutical product owned by it or to which it has rights, which product is at a similar stage in its development or product life and is of similar
market potential taking into account efficacy, safety, approved labeling, the competitiveness of alternative products in the marketplace, the patent and other proprietary position of the product, the likelihood of regulatory approval given the
regulatory structure involved, the profitability of the product including the royalties payable to licensors of patent or other intellectual property rights, alternative products and other relevant factors. Commercially Reasonable Efforts shall be
determined on a market-by-market and indication-by-indication basis for a particular Product, and it is anticipated that the level of effort will be different for different markets, and will change over time, reflecting changes in the status of the
Product and the market(s) involved. 

  

	1.18 	“Committee” means the joint research committee established to facilitate the Research Program as more fully described in Section 2.4.1.

  

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	1.19 	“Competitive Product” means a product or products sold by one or more Third Parties: (a) (i) which is used for the treatment and/or
prevention of oncology indications, and (ii) which has the effect of inhibiting or modulating the same Discovery Target as is inhibited or modulated by a Product; and (b) which has or attains on a Calendar Year basis, on its own or
cumulative with other products that meet the test set forth in subsection (a) of this Section 1.13, a market share of [**] percent ([**]%) or more of sales in a country of sale as measured by IMS or other similar information; provided
that, for Products which are non-Biologicals, only non-Biologicals shall be considered Competitive Products, and for Products which are Biologicals, only Biologicals shall be considered Competitive Products. 

  

	1.20 	“Control”, “Controls” or “Controlled by” means, with respect to any item of or right under Patent Rights or Know-How, the
possession of (whether by ownership or license, other than pursuant to this Agreement) the ability of a Party to grant access to, or a license or sublicense of, such items or right as provided for herein without violating the terms of any agreement
or other arrangement with any Third Party existing at the time such Party would be required hereunder to grant the other Party such access or license or sublicense. 

  

	1.21 	“Counterscreen(s)” means an assay designed to confirm that a small molecule or Biological does not have the effect of modulating or inhibiting a
Potential Collaboration Target, Non-MAP Collaboration Target, MAP Collaboration Target or Discovery Target, where such assay is used for the purpose of researching, developing and/or commercializing prophylactic and/or therapeutic agents that
inhibit or modulate a target other than a Potential Collaboration Target, Non-MAP Collaboration Target, MAP Collaboration Target or Discovery Target. 

  

	1.22 	“Development Candidate” means a Collaboration Compound for which MERCK has commenced dosing of the first animal in a toxicology study, under conditions
meeting Good Laboratory Practices pursuant to 21 CFR Part 58, where such study is intended to support an IND filing. 

  

	1.23 	“Diagnostic Use” means the use of Biologicals, Non-MAP Collaboration Target(s), MAP Collaboration Targets, Discovery Target(s), Collaboration
Compound(s) and/or Product(s) (i) for any and all uses in the diagnosis and/or ongoing evaluation of a disease or medical condition in humans or animals, where (ii) MERCK, in its reasonable judgment, determines that the Product for such
use described in (i) above is useful in the regulatory approval, marketing and/or sale of a Product for Therapeutic Use. 

  

	1.24 	“Directed” means that a Collaboration Compound is intended to inhibit or modulate the activity of a Non-MAP Collaboration Target or Discovery Target,
and actually inhibits or modulates the activity of such Non-MAP Collaboration Target or Discovery Target. 

  

	1.25 	“Discovery Target” means a Non-MAP Collaboration Target for which MERCK is or has allocated chemistry or high throughput screening resources
specifically for the purpose of identifying small molecule (or, as applicable, Biological) inhibitors or modulators of such Target. 

  

 -5- 

	1.26 	“Effective Date” has the meaning set forth in the Preamble. 

  

	1.27 	“European Union” means the countries that are members of the European Union as of the Effective Date of this Agreement. 

  

	1.28 	“Expired Target” has the meaning set forth in Section 3.4.5. 

  

	1.29 	“Extended Research Program Term” has the meaning set forth in Section 2.8.1. 

  

	1.30 	“Field” means the use of Non-MAP Collaboration Target(s), MAP Collaboration Target(s), Discovery Target(s), Collaboration Compound(s) and/or Product(s)
for any and all Therapeutic Use(s) and/or Diagnostic Use(s). 

  

	1.31 	“Filing” of an NDA means the acceptance by a Regulatory Authority of an NDA for filing. 

  

	1.32 	“First Commercial Sale” means, with respect to any Product, the first sale for end use or consumption of such Product in a country after all required
approvals, including Marketing Authorization (but excluding pricing approvals), have been granted by the Regulatory Authority of such country. 

  

	1.33 	“FTE” means a full-time equivalent person year (consisting of a total of [**] hours per year), of scientific work on or directly related to the
Research Program, as set forth in the Research Plan. The portion of a FTE devoted by an employee to the Research Program shall be determined by dividing (a) the number of hours during any twelve-month period devoted by such employee to the
Research Program by (b) [**]. 

  

	1.34 	“In Vitro Validation” has the meaning set forth in Research Plan. 

  

	1.35 	“IND” means an Investigational New Drug application, Clinical Study Application, Clinical Trial Exemption, or similar application or submission
for approval to conduct human clinical investigations filed with or submitted to a Regulatory Authority in conformance with the requirements of such Regulatory Authority. 

  

	1.36 	“Information” means any and all information and data, including without limitation all MERCK Know-How, AVEO Know-How, and all other scientific,
pre-clinical, clinical, regulatory, manufacturing, marketing, financial and commercial information or data, whether communicated in writing or orally or by any other method, which is provided by one Party to the other Party in connection with this
Agreement. 

  

	1.37 	“Internal Research Purposes” means the [**]. 

  

 -6- 

	1.38 	“Invention” means any process, method, composition of matter, article of manufacture, discovery or finding that is conceived in the course of the
Research Program. 

  

	1.39 	“Joint Information and Inventions” means all discoveries, processes, methods, protocols, formulas, data, Inventions, know-how and trade secrets,
patentable or otherwise, which (a) arise from the Research Program, and (b) are developed or invented jointly by employees of MERCK and AVEO or others acting on behalf of MERCK and AVEO. 

  

	1.40 	“Joint Patent Rights” means all Patent Rights that claim or cover the Joint Information and Inventions. 

  

	1.41 	“Know-How” means AVEO Know-How and MERCK Know-How. 

  

	1.42 	“Major Market” means any one of the following countries: United States, Japan, the United Kingdom, France, Germany, Italy or Spain.

  

	1.43 	“Major Pharma Entity” shall mean any health care company or group of companies acting in concert for whom collective worldwide sales of ethical
pharmaceutical products in the Calendar Year that preceded the Change of Control were [**] dollars ($US [**]) or more. 

  

	1.44 	“Major Pharma Change of Control” shall mean a Change of Control in which a Major Pharma Entity is the acquirer of AVEO’s assets or voting equity
securities (by asset purchase, merger, consolidation, reorganization or otherwise). 

  

	1.45 	“MAP Collaboration Target” has the meaning set forth in Section 3.4.2(e)(i). 

  

	1.46 	“MAP Nominated Target” has the meaning set forth in Section 3.4.2(c). 

  

	1.47 	“MAP Target Research Plan” has the meaning set forth in Section 3.4.2(e)(i). 

  

	1.48 	“MAP Technology Access Fee” has the meaning set forth in Section 3.4.2(e)(ii)(A). 

  

	1.49 	“Marketing Authorization” means all approvals from the relevant Regulatory Authority necessary to market and sell a Product in any country (including
without limitation, all applicable pricing and governmental reimbursement approvals). 

  

	1.50 	“MaSS Screen” has the meaning set forth in the Research Plan. 

  

	1.51 	 “MERCK Active Program” means, with respect to a Target, (a) (i) that MERCK has allocated chemistry or high throughput
screening resources in the [**] months immediately prior to the Relevant Non-MAP Dates or the Relevant MAP Date, as applicable, specifically for the purpose of identifying small molecule inhibitors or modulators of such a Target for oncology

  

 -7- 

	 	 
purposes, including but not limited to the nomination of a Target for high throughput screening for the purpose of identifying such small molecules, or (ii) that MERCK has allocated
resources in the [**] months immediately prior to the Relevant Non-MAP Dates or the Relevant MAP Date, as applicable, specifically for the purpose of identifying Biological inhibitors or modulators of such a Target for oncology purposes, including
but not limited to nomination of a Target for screening for the purpose of identifying such Biologicals, or (iii) that MERCK is in discussions with a Third Party for rights to such Target or to a chemical entity or a Biological directed to such
Target prior to receipt by MERCK of AVEO Genetic Screen Data from AVEO for such Target; and (b) which Target MERCK has identified in writing to the Outside Neutral as being the subject of a MERCK Active Program prior to the Relevant Non-MAP
Dates or the Relevant MAP Date, as applicable. 

  

	1.52 	“MERCK Discovery Target Data Package” means the following Information relating to a Discovery Target to the extent that the necessary experiments were
performed and subject to the terms of any Third Party agreements through which the data was generated or obtained: (a) Information that would be contained in a MERCK Non-MAP Collaboration Target Data Package for such Discovery Target;
(b) phenotype of model cell systems, animal models and Collaboration Models in which binding of small molecules to the Discovery Target has occurred; and (c) concentrations and plasma levels required to induce phenotypic changes in model
cell systems, animal models and Collaboration Models. For purposes of clarity, Information related to the small molecules and research tools used in generating the above data is excluded from the MERCK Discovery Target Data Package.

  

	1.53 	“MERCK Information and Inventions” means all discoveries, processes, methods, protocols, formulas, data, Inventions, know-how and trade secrets,
patentable or otherwise, (i) arising from the Research Program, and (ii) relating to a Collaboration Compound, Product or Non-MAP Collaboration Target, and (iii) developed or invented solely by employees of MERCK or other persons not
employed by AVEO acting on behalf of MERCK. 

  

	1.54 	“MERCK Know-How” means any information and materials, including but not limited to, discoveries, processes, methods, protocols, formulas, data,
inventions (including without limitation MERCK’s Information and Inventions and MERCK’s rights in Joint Information and Inventions), know-how and trade secrets, patentable or otherwise, which during the term of this Agreement, (i) are
in MERCK’s Control, (ii) are not generally known, and (iii) are in MERCK’s opinion necessary to AVEO in the performance of its obligations under the Research Program. 

  

	1.55 	“MERCK Microarray Data” has the meaning set forth in Section 3.4.2(b). 

  

	1.56 	 “MERCK Non-MAP Collaboration Target Data Package” means the following Information relating to a Non-MAP Collaboration Target to the
extent that the necessary experiments were performed and subject to the terms of any Third Party agreements through which the data was generated or obtained: (a) expression profile of the Non-MAP Collaboration Target in normal versus tumor
tissue and cell lines; (b) functional and biochemical characterization of the Non-MAP Collaboration

  

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Target; and (c) phenotype of model cell systems and animal models in which expression levels of the Non-MAP Collaboration Target have been altered. For purposes of clarity, Information
related to the research tools used in generating the above data is excluded from the MERCK Non-MAP Collaboration Target Data Package. 

  

	1.57 	“MERCK Patent Rights” means any and all Patent Rights which are Controlled by MERCK during the term of this Agreement, and which claim the
composition of matter of a Collaboration Compound and/or Product or the use of a Collaboration Compound and/or Product Directed to a Non-MAP Collaboration Target or Discovery Target; provided, however, that MERCK Patent Rights shall
not include Patent Rights that are the subject of a patent application filed by MERCK prior to receipt by MERCK of AVEO Genetic Screen Data from AVEO relating to such Non-MAP Collaboration Target or Discovery Target, but shall include Patent Rights
that are the subject of (i) any claims filed or amended in a patent application that otherwise meets the definition of MERCK Patent Rights if such claims or amendments are filed after receipt by MERCK of AVEO Genetic Screen Data from AVEO
related to such Non-MAP Collaboration Target or Discovery Target and such claims or amendments are supported by AVEO Information and Inventions, and (ii) a continuation-in-part arising from such patent application that otherwise meets the
definition of MERCK Patent Rights if such continuation-in-part is filed after receipt by MERCK of AVEO Genetic Screen Data from AVEO related to such Non-MAP Collaboration Target or Discovery Target. 

  

	1.58 	“NDA” means a New Drug Application, Biological License Application, Worldwide Marketing Application, Marketing Application Authorization,
Section 510(k) filing or similar application or submission for Marketing Authorization of a Product filed with a Regulatory Authority to obtain marketing approval for a pharmaceutical or diagnostic product in that country or in that group of
countries. 

  

	1.59 	“Net Sales” means the gross invoice price of Product sold by MERCK or its Related Parties to the first Third Party after deducting, if not previously
deducted, from the amount invoiced or received: 

  

	 	(a)	trade and quantity discounts other than early pay cash discounts; 

  

	 	(b)	returns, rebates, chargebacks and other allowances; 

  

	 	(c)	retroactive price reductions that are actually allowed or granted; 

  

	 	(d)	sales commissions paid to Third Party distributors and/or selling agents outside of Major Markets; 

  

	 	(e)	a fixed amount equal to [**] percent ([**]%) of the amount invoiced to cover bad debt, sales or excise taxes, early payment cash discounts, transportation and
insurance, custom duties, and other governmental charges; and 

  

	 	(f)	MERCK’s standard inventory cost of devices or delivery systems provided by MERCK for the dispensing or administering Product. 

  

 -9- 

 In the case of sale of Product for consideration other than cash, such as barter or counter
trade, Net Sales shall be calculated on the fair market value of the consideration received. 
 In the event a Collaboration
Compound is sold as part of a Combination Product, the Net Sales from the Combination Product, for the purposes of determining royalty payments, shall be determined by multiplying the Net Sales of the Combination Product (as defined in the standard
Net Sales definition), during the applicable royalty reporting period, by the fraction, A/A+B, where A is the average sale price of the Product containing such Collaboration Compound, as applicable, when sold separately in finished form and B is the
average sale price of the other products whose clinically active components are included in the Combination Product when such products are sold separately in finished form, in each case during the applicable royalty reporting period or, if sales of
both the Product and the other product(s) did not occur in such period, then in the most recent royalty reporting period in which sales of both occurred. In the event that such average sale price cannot be determined for both the Product and all
other product(s) included in the Combination Product, Net Sales for the purposes of determining royalty payments shall be calculated by multiplying the Net Sales of the Combination Product by the fraction of C/C+D where C is the fair market value of
the Collaboration Compound, as applicable, and D is the fair market value of all other clinically active ingredient(s) included in the Combination Product. In such event, MERCK shall in good faith make a determination of the respective fair market
values of the Product and all other clinically active components included in the Combination Product, and shall notify AVEO of such determination and provide AVEO with data to support such determination. AVEO shall have the right to review such
determination and supporting data, and to notify MERCK if it disagrees with such determination. If AVEO does not agree with such determination and if the Parties are unable to agree in good faith as to such respective fair market values, then such
matter shall be settled pursuant to the provisions of Section 9.6. 
  

	1.60 	“Nominated Target” has the meaning set forth in Section 3.4.2(c). 

  

	1.61 	“Non-MAP Collaboration Target” means a Non-MAP Nominated Target regarding which MERCK, in its sole discretion, has exercised its Option pursuant to
Section 3.4.1 and paid to AVEO the milestone set forth in Section 5.3.1(1)(a), provided that such target shall cease to constitute a Non-MAP Collaboration Target at such time as it becomes an AVEO Target. 

 

	1.62 	“Non-MAP Nominated Target” has the meaning set forth in Section 3.4.2(c). 

  

	1.63 	“Non-MAP Target Package Plan” has the meaning set forth in Section 3.4.2(d)(i). 

  

	1.64 	“Option” means MERCK’s written notice, provided pursuant to and subject to the conditions set forth in Section 3.4, that MERCK wishes to
obtain the licenses set forth in Sections 3.1.1, 3.1.2 and 3.1.3 with regard to a Non-MAP Nominated Target. 

  

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	1.65 	“Option Period” has the meaning set forth in Section 3.4.5. 

  

	1.66 	“Outside Neutral” shall mean DSI Technology Escrow Services, Inc., or such other Third Party that is mutually agreed upon by both Parties who agrees
pursuant to a written agreement to abide by the confidentiality and non-use provisions of this Agreement and to the provisions of Sections 3.4.2 and 3.4.3, and agrees to hold the list of MERCK Active Programs, as updated from time to time, in escrow
on behalf of the Parties. 

  

	1.67 	“Party” means MERCK or AVEO singly, and “Parties” means MERCK and AVEO collectively. 

  

	1.68 	“Patent Rights” means any and all patents and patent applications in the Territory (which for the purposes of this Agreement shall be deemed to include
certificates of invention and applications for certificates of invention) and all divisions, continuations, continuations-in-part, reissues, renewals, extensions, supplementary protection certificates, and the like of any such patents and patent
applications and foreign equivalents thereof. 

  

	1.69 	“Phase II Clinical Trial” means a human clinical trial in any country that would satisfy the requirements of 21 CFR 312.21(b).

  

	1.70 	“Phase III Clinical Trial” means a human clinical trial in any country the results of which could be used to establish safety and efficacy of a Product
as a basis for a Marketing Application or that would otherwise satisfy the requirements of 21 CFR 312.21(c). 

  

	1.71 	“Pilot Experiments” mean the portion of the Research Program which involves the use of AVEO’s proprietary [**] to explore the potential use of
AVEO’s proprietary model systems for responder identification, the work plan for which is attached hereto as Schedule 1.71. 

  

	1.72 	“Potential Collaboration Target” means a Target that is identified in the course of the Research Program, including all Targets identified by
the MaSS Screen in the Collaboration Models and all Additional Dual Targets; provided, however, that (a) Additional Biological Targets shall be excluded from the Potential Collaboration Targets except as otherwise expressly agreed
in writing by the Parties pursuant to Section 3.7.1, and (b) Additional Model Targets shall be excluded from the Potential Collaboration Targets except as otherwise expressly agreed in writing by the Parties pursuant to 3.7.2.

  

	1.73 	“Product” means any preparation in final form, either for sale by prescription, over-the-counter or any other method or for administration to human
patients in Clinical Trials, for any and all uses in the Field, which preparation (i) contains a Collaboration Compound, or (ii) in the case of a Product for Diagnostic Use, utilizes the relevant Discovery Target and/or Collaboration
Compound for Diagnostic Use. 

  

	1.74 	“Regulatory Authority” means any applicable government regulatory authority involved in granting approvals for the manufacturing, marketing,
reimbursement and/or pricing of a Product in the Territory, including, in the United States, the United States Food and Drug Administration and any successor governmental authority having substantially the same function. 

  

 -11- 

	1.75 	“Related Party” means MERCK, its Affiliates, and permitted sublicensees (which term does not include distributors that are not Affiliates of MERCK).

  

	1.76 	“Relevant MAP Date” means, with respect to a Target that MERCK designates as a MAP Nominated Target pursuant to Section 3.4.2(c), the date upon
which MERCK receives the AVEO Genetic Screen Data for such Target. 

  

	1.77 	“Relevant Non-MAP Dates” means, with respect to any Non-MAP Nominated Target, (a) for purposes of determining whether MERCK has a MERCK Active
Program pursuant to Section 3.4.2(c), the date upon which MERCK receives the AVEO Genetic Screen Data from AVEO for such Target pursuant to Section 3.4.2(a), and (b) for purposes of determining whether MERCK has a MERCK Active Program
pursuant to Section 3.4.2(d)(ii), the date upon which the Committee approves the Non-MAP Target Package Plan for such Target pursuant to Section 3.4.2(d)(i). 

  

	1.78 	“Research Plan” has the meaning set forth in Section 2.1. 

  

	1.79 	“Research Program Term” means the duration of the Research Program and “Initial Research Program Term” shall mean the initial
three-year period of the Research Program, as described more fully in Section 2.8.1. 

  

	1.80 	“Research Program” means the research activities undertaken by the Parties hereto as set forth in Article 2 and Schedules 1.71 and 2.1, including the
Pilot Experiments. 

  

	1.81 	“Restatement Effective Date” has the meaning set forth in the Preamble. 

  

	1.82 	“Retained Target” has the meaning set forth in Section 3.1.7. 

  

	1.83 	“Target” means a nucleotide sequence, including all expressed variants of such nucleotide sequence. 

  

	1.84 	“Target Package” shall mean the package of information relating to a Non-MAP Nominated Target provided by AVEO to MERCK pursuant to Section 3.4.2,
as more fully described in Schedule 1.84. 

  

	1.85 	“Territory” means all of the countries in the world, and their territories and possessions. 

  

	1.86 	“Therapeutic Use” means the use of Non-MAP Collaboration Target(s), MAP Collaboration Target(s), Discovery Targets, Collaboration Compound(s) and/or
Product(s) for any and all uses in the treatment and/or prevention of a disease or medical condition in humans or animals. 

  

	1.87 	“Third Party” means an entity other than MERCK and its Related Parties, and AVEO and its Affiliates. 

  

 -12- 

	1.88 	“Valid Patent Claim” means a claim of an issued and unexpired patent included within the AVEO Patent Rights, MERCK Patent Rights and/or Joint
Patent Rights which claims (i) the composition of matter or use of a Discovery Target, (ii) the composition of matter of a Product or a Collaboration Compound, or (iii) the use of a Product or Collaboration Compound Directed at a
Discovery Target, which claim has not been revoked or held unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction, and which is not appealable or has not been appealed with the time allowed for
appeal, and which has not been disclaimed, denied or admitted to be invalid or unenforceable through reissue, re-examination or disclaimer or otherwise. 

  

	2.	RESEARCH PROGRAM 

  

	2.1	General 

 AVEO and
MERCK shall engage in the Research Program upon the terms and conditions set forth in this Agreement. The activities to be undertaken in the course of Research Program are set forth in the Research Plan attached as Schedule 2.1 to this Agreement,
which may be amended from time to time upon the mutual written agreement by authorized representatives of the Parties (as so amended, the “Research Plan”). 
  

	2.2	Conduct of Research 

 AVEO and MERCK each shall use Commercially Reasonable Efforts to conduct the Research Program in good scientific manner, and in compliance in all material respects with all requirements of applicable laws, rules and regulations and all
applicable good laboratory practices to attempt to achieve their objectives efficiently and expeditiously. AVEO and MERCK each shall use Commercially Reasonable Efforts to proceed diligently with the work set out in the Research Program and shall
use Commercially Reasonable Efforts to allocate sufficient time, effort, equipment and facilities to the Research Program and to use personnel with sufficient skills and experience as are required to accomplish the Research Program in accordance
with the terms of this Agreement and Schedules 1.71 and 2.1. 
 AVEO shall be entitled to utilize the service of Third Parties
to perform its Research Program activities only upon the prior written consent of MERCK (which consent shall not be unreasonably withheld) or as specifically set forth in Schedule 2.1. Notwithstanding any such consent, AVEO shall remain at all times
fully liable for its responsibilities under the Research Program. 
  

	2.3	Use of Research Funding 

 AVEO shall apply the research funding it receives from MERCK under this Agreement to carry out its Research Program activities in accordance with Schedules 1.71 and 2.1 and the terms and conditions of this Agreement. 
  

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	2.4	Joint Research Committee 

 The Parties hereby establish a committee to facilitate the Research Program as follows: 
  

	2.4.1 	Composition of the Joint Research Committee. The Research Program shall be conducted under the direction of a joint research committee (the
“Committee”) comprised of three (3) named representatives of MERCK and three (3) named representatives of AVEO. Each Party shall appoint its respective representatives to the Committee from time to time, and may substitute
one or more of its representatives, in its sole discretion, effective upon notice to the other Party of such change. These representatives shall have appropriate technical credentials, experience and knowledge, and ongoing familiarity with the
Research Program. Additional representatives or consultants may from time to time, by mutual consent of the Parties, be invited to attend Committee meetings, subject to such representative’s and consultant’s written agreement to comply
with the requirements of Section 4.1. Each Party shall bear its own expenses related to the attendance of such meetings by its representatives. The Committee shall be chaired by a representative of MERCK. Decisions of the Committee shall be
made unanimously by the members. In the event that the Committee cannot or does not, after good faith efforts, reach agreement on an issue, the issue will be referred to the appropriate MERCK Executive Vice President and AVEO officer designated by
AVEO’s Chief Executive Officer for resolution. If agreement is not reached at that level, the issue will be referred to the appropriate MERCK Executive Vice President and the AVEO Chief Executive Officer for resolution, provided,
however, that, except as provided below, if the Parties cannot thereafter agree on any issue relating to the activities of AVEO or MERCK relating to a Collaboration Compound, Product, Non-MAP Collaboration Target, MAP Collaboration Target or
Discovery Target, the final decision shall be made by the President of the MERCK Research Laboratories division. All decisions of the Committee required pursuant to Section 3.4.2(d)(i) and 3.4.2(e)(i) must be unanimous and are not subject to
the final decision-making authority of the President of the MERCK Research Laboratories division. 

 Notwithstanding any other provision of this Section 2.4.1, no decision shall be made by the Committee or either Party which is inconsistent with the terms of this Agreement or imposes any obligation or burden upon the other Party that
is outside the scope of this Agreement. 
  

	2.4.2 	Meetings of Committee During Research Program Term. The Committee shall meet in accordance with a schedule established by mutual written agreement of the
Parties, but no less frequently than once per Calendar Quarter, with the location for such meetings alternating between AVEO and MERCK facilities (or such other locations as is determined by the Committee). Alternatively, the Committee may meet by
means of teleconference, videoconference or other similar communications equipment. The Committee shall confer regarding the status of the Research Program, review relevant data, consider and advise on any technical issues that arise, consider
issues of priority, and review and advise on any budgetary and economic matters relating to the Research Program which is referred to the Committee. 

  

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	2.5	Exchange of Information 

 Upon execution of this Agreement, and on an ongoing basis during the term of the Research Program, AVEO shall disclose to MERCK in English and in writing all AVEO Know-How not previously disclosed. MERCK shall promptly disclose to AVEO
during the term of the Research Program all MERCK Know-How not previously disclosed. 
  

	2.6	Records and Reports 

  

	2.6.1 	Records. Each Party shall maintain records, in sufficient detail and in good scientific manner appropriate for patent and regulatory purposes, which shall
fully and properly reflect all work done and results achieved in the performance of the Research Program by both Parties. 

  

	2.6.2 	Copies and Inspection of Records. MERCK shall have the right, during normal business hours and upon reasonable notice, to inspect and copy all such
records of AVEO referred to in Section 2.6.1; provided, however that MERCK shall not have the right to review or copy records to the extent that such records contain information that does not relate to the Research Program, and
AVEO, in lieu of providing such access to its records, may elect to provide copies of the relevant records to MERCK; and, provided further that MERCK’s right of inspection and copying shall be limited to records relating to Non-MAP
Collaboration Targets, MAP Collaboration Targets or Discovery Targets, or to AVEO’s activities in connection with the prosecution of Joint Patent Rights. MERCK shall maintain such records and the Information disclosed therein in confidence in
accordance with Section 4.1. MERCK shall have the right to arrange for its employees and/or consultants involved in the activities contemplated under this Section 2.6.2 to visit the offices and laboratories of AVEO and any of its Third
Party contractors as permitted under Section 2.2 during normal business hours and upon reasonable notice, and to discuss the Research Program work and its results in detail with the technical personnel and consultants of the Parties.

  

	2.6.3 	Committee Reports. At each Committee meeting, each Party shall provide to the other Party a report on the progress of the Research Program, evaluating the
work performed in relation to the goals of the Research Program. Each Party shall provide such other information required by the Research Program or reasonably requested by the other Party relating to the progress of the goals or performance of the
Research Program. 

  

	2.6.4 	 Activities after Research Program Term. After the expiration or termination of the Research Program Term as provided in Section 2.8,
MERCK shall continue to keep AVEO generally apprised of the status of MERCK’s research activities regarding (a) Non-MAP Collaboration Targets and Discovery Targets, and, (b) solely to the extent reasonably required to determine the
likelihood of achieving relevant milestones under Section 5.3, the MAP Collaboration Targets. MERCK shall provide written summaries regarding relevant Non-MAP Collaboration Targets and Discovery Targets to AVEO at the end of the second and
fourth Calendar Quarter of each Calendar Year; provided, however, that if MERCK fails to timely provide such a written report, AVEO shall request such a report, and MERCK shall promptly provide such written report in response to
AVEO’s request. In the event that AVEO is concerned with MERCK’s diligence in performing research regarding a Non-MAP Collaboration Target or Discovery Target as provided for in Sections 3.5(b) or (c), AVEO may request in writing that a
meeting of the Committee be

  

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convened to review MERCK’s activities and to determine, in accordance with Sections 2.4.1 and Sections 3.5(b) or (c), whether MERCK has met its diligence obligations with regard to such
Non-MAP Collaboration Target or Discovery Target. Such a meeting shall be held within thirty (30) days after AVEO’s written request and may be by videoconference, teleconference or other similar communications equipment.

  

	2.7	Research Information and Inventions 

 The entire right, title and interest in: 
  

	 	(a)	AVEO Information and Inventions shall be owned solely by AVEO; 

  

	 	(b)	MERCK Information and Inventions shall be owned solely by MERCK; and 

  

	 	(c)	Joint Information and Inventions shall be owned jointly by AVEO and MERCK. 

 AVEO shall disclose to MERCK the development, making, conception and/or reduction to practice of AVEO Information and Inventions and Joint Information and Inventions during meetings of the Committee.
MERCK shall disclose to AVEO the development, making, conception and/or reduction to practice of MERCK Information and Inventions and Joint Information and Inventions during meetings of the Committee. 
  

	2.8	Research Program Term 

  

	2.8.1 	Term. Except as otherwise provided herein, the term of the Research Program shall commence on the Effective Date and continue for a period of three
(3) years (“Initial Research Program Term”). The Parties may extend the term of the Research Program on a year-by-year basis, for a total of up to two (2) years (“Extended Research Program Term”),
initially at least ninety (90) days prior to the three-year anniversary of the commencement of the Research Program and, thereafter, at least ninety (90) days prior to each subsequent anniversary, and shall, in such case, amend the
Research Plan as applicable. 

  

	2.8.2 	Termination of Research Program by MERCK. Notwithstanding anything contained in this Agreement to the contrary, MERCK shall have the right to terminate
the Research Program at any time during the Research Program Term in its sole discretion by giving one hundred twenty (120) days’ advance written notice to AVEO. 

  

	2.8.3 	 Termination Prior to Expiration of Initial Research Program Term. In the event of termination of the Research Program under
Section 2.8.2 prior to the expiration of the Initial Research Program Term: (i) MERCK shall pay all amounts then due and owing as of the termination date of the Research Program; (ii) all rights under the AVEO Know-How and AVEO Patent
Rights relating to Potential Collaboration Targets (including, for purposes of clarity, Non-MAP Nominated Targets that are not Non-MAP Collaboration Targets and MAP Nominated Targets that are not MAP Collaboration Targets) and Non-MAP Collaboration
Targets which have not qualified as Discovery Targets prior to the date of termination of the Research Program

  

 -16- 

	 	 
Term shall revert to AVEO; provided, however, that MERCK shall have a fully paid-up, non-exclusive license to use AVEO Information and Inventions relating to such Potential
Collaboration Targets and Non-MAP Collaboration Targets for Internal Research Purposes in the Field; (iii) subject to the remaining terms of the Agreement, the licenses granted to MERCK pursuant to Sections 3.1.1, 3.1.2 and 3.1.3 shall continue
in full force and effect as such licenses relate to Discovery Targets which have qualified as Discovery Targets prior to the date of termination of the Research Program Term; (iv) the Option Period set forth in Section 3.4.5 shall
terminate as of the termination of the Research Program Term; and (v) except for the provisions of this Article 2, the rights and obligations of the Parties under this Agreement shall continue after the date of such termination of the Research
Program, but subject to the modifications set forth in this Section 2.8.3. 

  

	2.8.4 	Termination On or After Expiration of Initial Research Program Term. In the event of expiration of the Initial Research Program Term, the expiration of
the Extended Research Program Term, or termination of the Research Program under Section 2.8.2 during any Extended Research Program Term: (i) MERCK shall pay all amounts then due and owing as of the termination date of the Research
Program; (ii) all rights under the AVEO Know-How and AVEO Patent Rights relating to Potential Collaboration Targets (including, for purposes of clarity, Non-MAP Nominated Targets that are not Non-MAP Collaboration Targets and MAP Nominated
Targets that are not MAP Collaboration Targets) shall revert to AVEO; provided, however, that MERCK shall have a fully paid-up, non-exclusive license to use AVEO Information and Inventions relating to such Potential Collaboration
Targets for Internal Research Purposes in the Field; (iii) subject to the remaining terms of the Agreement, including the provisions of Section 3.4.5, (A) the licenses granted to MERCK pursuant to Sections 3.1.1, 3.1.2 and 3.1.3 shall
continue in full force and effect as such licenses relate to Non-MAP Collaboration Targets for which the Option has been exercised prior to the date of termination of the Research Program, and (B) the licenses granted to MERCK pursuant to
Sections 3.1.4 shall continue in full force and effect as such licenses relate to MAP Collaboration Targets for which the MAP Technology Access Fee has been paid prior to the date of termination of the Research Program; and (iv) except for the
provisions of this Article 2, the rights and obligations of the Parties hereunder shall continue after the date of such termination of the Research Program, but subject to the modifications set forth in this Section 2.8.4. 

 

	2.9	INTENTIONALLY OMITTED 

  

	2.10 	Pilot Experiments 

 AVEO used an appropriate portion of the funding provided by MERCK prior to the Restatement Effective Date pursuant to Section 5.2 to perform the Pilot Experiments. In the event the Pilot Experiments are successful, the Parties may
choose to enter into a collaboration and license agreement for the responder identification technology that is the subject of the Pilot Experiments and, if MERCK and AVEO so choose, MERCK and AVEO shall negotiate a separate agreement, with separate
financial provisions, regarding a research collaboration and license for such technology, provided that neither Party shall be obligated to enter into such an agreement. AVEO shall own data generated in the performance of the Pilot
Experiments, and MERCK shall have the right to use such data for Internal Research Purposes. 
  

 -17- 

	2.11	Compliance 

 AVEO
and MERCK shall conduct the Research Program in accordance with all applicable laws, rules and regulations, including, without limitation, all current governmental regulatory requirements concerning Good Laboratory Practices. In addition, if animals
are used in research hereunder, AVEO and MERCK will comply with the Animal Welfare Act or any other applicable local, state, national and international laws or regulations relating to the care and use of laboratory animals. The Parties are each
encouraged to use the highest standards, such as those set forth in the Guide for the Care and Use of Laboratory Animals (NRC, 1996), for the humane handling, care and treatment of such research animals. Any animals which are used in the course of
the Research Program, or products derived from those animals, such as eggs or milk, will not be used for food purposes, nor will these animals be used for commercial breeding purposes. AVEO and MERCK shall notify each other in writing of any
deviations from applicable regulatory or legal requirements. Each Party hereby certifies that it will not and has not employed or otherwise used in any capacity the services of any person debarred under Section 21 USC 335a in performing any
services hereunder. 
  

	2.12	Exclusive Efforts 

 During the Research Program Term, AVEO shall work exclusively (even as to AVEO itself) with MERCK to use the Collaboration Models to discover Potential Collaboration Targets for use in the Field; provided, however, this
Section 2.12 shall not limit in any way AVEO’s freedom to fully exploit any right not licensed exclusively to MERCK under this Agreement, or any right which reverts to AVEO under this Agreement, including, without limitation, the freedom
to exploit for any purpose any AVEO Targets. 
  

	3.	LICENSE; EXCHANGE OF INFORMATION; DEVELOPMENT AND COMMERCIALIZATION 

  

	3.1	License Grant 

  

	3.1.1 	Therapeutic Use. Upon exercise of the Option for a specified Non-MAP Collaboration Target as set forth in Section 3.4.1, and subject to
payment of the milestone set forth in Section 5.3.1(1)(a) and further subject to the reversion rights as set forth in Sections 3.1.7 and 3.5, AVEO hereby grants to MERCK an exclusive license (even as to AVEO) in the Territory under the AVEO
Patent Rights and AVEO Know-How, with a right to sublicense for any and all Therapeutic Uses, as set forth in Section 3.1.6, to develop, make, have made, use, offer to sell, sell and/or import Collaboration Compound(s) and/or Product(s)
Directed at such Non-MAP Collaboration Target for Therapeutic Use. 

  

 -18- 

	3.1.2 	Diagnostic Use. Upon exercise of the Option for a specified Non-MAP Collaboration Target as set forth in Section 3.4.1, and subject to payment
of the milestone set forth in Section 5.3.1(1)(a) and further subject to the reversion rights as set forth in Sections 3.1.7 and 3.5, AVEO hereby grants to MERCK a non-exclusive license in the Territory under the AVEO Patent Rights and AVEO
Know-How, with a right to sublicense for any and all Diagnostic Use, as set forth in Section 3.1.6, to develop, make, have made, use, offer to sell, sell and/or import Collaboration Compound(s) and/or Product(s) Directed at such Non-MAP
Collaboration Target for Diagnostic Use. 

  

	3.1.3 	Biologicals. Upon exercise of the Option as set forth in Section 3.4.1 for a specified Non-MAP Collaboration Target that is not an Additional
Biological Target, and subject to payment of the milestone set forth in Section 5.3.1(1)(a) and further subject to the reversion rights as set forth in Sections 3.1.7 and 3.5, AVEO hereby grants to MERCK a non-exclusive license in the Territory
under the AVEO Patent Rights and AVEO Know-How, with a right to sublicense to MERCK’s Affiliates subject to Section 3.1.6, to develop, make, have made and use Biologicals Directed to a Non-MAP Collaboration Target or Discovery Target for
the sole purpose of the research and/or development of a Product for Therapeutic Use and/or Diagnostic Use. For purposes of clarity, the license grant set forth in this Section 3.1.3 does not include a right of MERCK to sell or offer to sell
such Biologicals for any purpose. 

  

	3.1.4 	MAP Collaboration Targets. Upon MERCK’s payment of the MAP Technology Access Fee for a specified MAP Collaboration Target as set forth in
Section 3.4.2(e)(ii)(A), and subject to payment of the milestone payments set forth in Section 3.4.2(e)(ii)(C) with respect thereto, AVEO hereby grants to MERCK a non-exclusive license under the AVEO Patent Rights and AVEO Know-How that
arise from the activities under the MAP Target Research Plan to develop, make, have made, use, offer to sell, sell and/or import inhibitors or modulators directed to such MAP Collaboration Target for Therapeutic Use and Diagnostic Use.

  

	3.1.5 	Limitation. For purposes of clarity, the license grants set forth in Sections 3.1.1, 3.1.2, 3.1.3 and 3.1.4 do not include the right to use any
Non-MAP Collaboration Target or Potential Collaboration Target in order to research, identify, discover or develop any target other than (i) any Non-MAP Collaboration Target or MAP Collaboration Target for which MERCK receives an express
license, or (ii) as a Counterscreen. 

  

	3.1.6 	Sublicenses. Each sublicense shall be subject and subordinate to, and consistent with, the terms and conditions of this Agreement, including but
not limited to provisions related to confidentiality (Article 4), consequential damages, commercialization and development, record-keeping and audit provisions and shall provide that any such sublicensee shall not further sublicense. MERCK shall
remain responsible for the performance of its sublicensees, and shall ensure that any such sublicensees comply with the relevant provisions of this Agreement. In the event of a material default by any sublicensee under a sublicense agreement, MERCK
will inform AVEO and take such action which in MERCK’s reasonable business judgment will address such default. 

  

 -19- 

	3.1.7 	AVEO Targets. Any of AVEO’s rights to AVEO Know-How, AVEO Patent Rights, AVEO Information and Inventions, Joint Information and Inventions and
Joint Patent Rights not specifically licensed to MERCK shall be retained by AVEO, including, but not limited to (i) any applications outside of the Field for any purpose, and (ii) all rights, title and interest in and to AVEO Know-How and
AVEO Patent Rights relating to AVEO Targets. “AVEO Targets” shall be defined as (a) any Nominated Target to which MERCK does not exercise its Option as set forth in Section 3.4.1 or Section 3.4.2(d)(iii) within the
applicable timeframes in Section 3.4.2 (“Retained Target(s)”); (b) any Replaced Target (as defined in Section 3.4.4); (c) any Expired Targets (as defined in Section 3.4.5); and (d) any Non-MAP
Collaboration Target or Discovery Targets with respect to which rights revert to AVEO pursuant to Sections 3.5(b) or 3.5(c). 

  

	3.1.8 	MERCK Information and Inventions and MERCK Know-How. Subject to AVEO’s rights under the last sentence of Section 3.4.2(b) with respect to
MERCK Microarray Data, AVEO shall not use any MERCK Information and Inventions or MERCK Know-How for the pre-clinical or clinical development of any therapeutic, diagnostic or prophylactic agent other than an AVEO Target (except for AVEO Targets
which are Expired Targets wherein such Expired Targets are Potential Collaboration Targets which have not been designated as Nominated Targets), whether inside or outside of the Field. For the avoidance of doubt, AVEO will not willfully use MERCK
Information and Inventions or MERCK Know-How to direct research into the discovery or identification of additional targets in the same pathway as any Potential Collaboration Target, Non-MAP Collaboration Target or Discovery Target; provided,
however, that the foregoing restriction shall not apply to any AVEO Target other than AVEO Targets which are Expired Targets wherein such Expired Targets are Potential Collaboration Targets which have not been designated as Nominated Targets.

  

	3.2	Covenants Not to Sue 

  

	3.2.1 	AVEO Covenant. In the event the making, having made, use, offer for sale, sale or import by MERCK or MERCK’s Related Parties of any Product(s)
Directed at a Non-MAP Collaboration Target would infringe during the term of this Agreement a claim of issued Patent Rights which AVEO Controls and which Patent Rights are not covered by the grants in Section 3.1.1, 3.1.2, 3.1.3 or 3.1.4, AVEO
hereby covenants not to sue MERCK or its Related Parties under such Patent Rights solely for MERCK to develop, make, have made, use, sell, offer for sale or import such Product(s) in the Territory and in the Field. 

  

	3.2.2 	MERCK Covenant. In the event the AVEO’s performance of activities for MERCK under the Research Program would infringe during the Research Program
Term a claim of issued Patent Rights which MERCK Controls, MERCK hereby covenants not to sue AVEO or its Affiliates or sublicensees under such Patent Rights solely for AVEO to perform such activities. 

  

 -20- 

	3.3	Section 365(n) of the Bankruptcy Code 

 All rights and licenses granted under or pursuant to any section of this Agreement are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses of
rights to “intellectual property” as defined under Section 101(35A) of the U.S. Bankruptcy Code. The Parties shall retain and may fully exercise all of their respective rights and elections under the U.S. Bankruptcy Code. The Parties
agree that MERCK, as a licensee of such rights under this Agreement, shall retain and may fully exercise all of its rights and elections under the U.S. Bankruptcy Code, and that upon commencement of a bankruptcy proceeding by or against AVEO under
the U.S. Bankruptcy Code, MERCK shall be entitled to a complete duplicate of or complete access to (as MERCK deems appropriate), any such intellectual property and all embodiments of such intellectual property, provided MERCK continues to fulfill
its payment and/or royalty obligations as specified herein in full. Such intellectual property and all embodiments thereof shall be promptly delivered to MERCK (i) upon any such commencement of a bankruptcy proceeding upon written request
therefore by MERCK, unless AVEO elects to continue to perform all of its obligations under this Agreement or (ii) if not delivered under (i) above, upon the rejection of this Agreement by or on behalf of AVEO upon written request therefore
by MERCK. The foregoing is without prejudice to any rights MERCK may have arising under the U.S. Bankruptcy Code or other applicable law. 
  

	3.4	Exclusive Option for Non-MAP Collaboration Targets 

  

	3.4.1 	Option for Non-MAP Collaboration Targets. AVEO hereby grants to MERCK an exclusive Option to obtain an exclusive license (even as to AVEO) pursuant
to Section 3.1.1, and a non-exclusive license pursuant to Sections 3.1.2 and 3.1.3, for up to [**] Non-MAP Nominated Targets at any one time, pursuant to and subject to the provisions of this Section 3.4.1 and Section 3.4.2.

  

	3.4.2 	Procedure for Potential Collaboration Targets.  

  

	 	(a)	Disclosure of AVEO Genetic Screen Data. During the Research Program Term, AVEO shall provide to MERCK in writing the AVEO Genetic Screen Data as set forth
in this Section 3.4.2. AVEO shall inform MERCK in writing when AVEO Genetic Screen Data is available. MERCK shall, within [**] days of receiving such written notice submit to the Outside Neutral a true and complete list of MERCK Active
Programs, and shall then notify AVEO that AVEO may send the applicable AVEO Genetic Screen Data to MERCK. In no event shall the information provided by MERCK to the Outside Neutral be provided to AVEO except pursuant to Section 3.4.3 or any
Third Party unless there is a subsequent dispute over whether MERCK has complied with the provisions of this Section 3.4 relating to the existence of a MERCK Active Program. 

  

	 	(b)	 MERCK Microarray Data; Collaborative Review and Analysis. In accordance with the Research Plan, MERCK shall perform array-based
experiments on the full set of [**] arising from each of the screens and shall provide copies of all data generated in such experiments (“MERCK Microarray Data”) to AVEO. AVEO and MERCK shall collaboratively review and analyze the
AVEO Genetic Screen Data and the MERCK Microarray Data in order to better identify high quality Potential Collaboration Targets. From time-to-time, at MERCK’s sole discretion, MERCK will prioritize Potential Collaboration Targets. In so
prioritizing, MERCK may apply its own proprietary information and

  

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technology. For purposes of clarity, MERCK shall have no obligation to disclose to AVEO such proprietary data, technology or other information applied by MERCK. During the Research Program Term,
AVEO shall perform activities and allocate resources under the Research Plan in accordance with the prioritization communicated by MERCK to AVEO from time to time. AVEO may use the MERCK Microarray Data solely (i) in the performance of
activities specifically set forth in the Research Plan, and/or (ii) in connection with research and development of AVEO Targets, Additional Biological Targets and/or Additional Dual Targets, provided, however, that AVEO will not
willfully use MERCK Microarray Data to direct research into the discovery or identification of additional targets in the same pathway as any Potential Collaboration Target, Non-MAP Collaboration Target or Discovery Target unless such target is an
AVEO Target, an Additional Biological Target or an Additional Dual Target. 

  

	 	(c)	Nominated Targets. At any time during the Research Program Term, MERCK may, upon written notice to AVEO, designate any Potential Collaboration Target as a
“Nominated Target”, and upon any such designation, the remaining terms of this Section 3.4.2 shall apply. In such written notice, MERCK shall indicate whether MERCK had a MERCK Active Program for such designated Potential
Collaboration Target at the time that MERCK received the AVEO Genetic Screen Data for such Potential Collaboration Target pursuant to Section 3.4.2(a) above. If MERCK indicates in such notice that MERCK did not have a MERCK Active Program for a
Nominated Target at such time, such Nominated Target will be referred to herein as a “Non-MAP Nominated Target”. If MERCK indicates in such notice that MERCK had a MERCK Active Program for a Nominated Target at such time, such
Nominated Target will be referred to herein as a “MAP Nominated Target”. AVEO may, at its discretion, submit an inquiry to the Outside Neutral pursuant to Section 3.4.3 in order to verify any such designation by MERCK.

 Each Potential Collaboration Target that MERCK elects not to designate as a “Nominated Target” shall
remain subject to the rights of MERCK under this Section 3.4.2(c) until the termination of the Research Program Term, at which time all rights under the AVEO Know-How and AVEO Patent Rights relating to such Potential Collaboration Targets shall
revert to AVEO in accordance with Sections 2.8.3 or 2.8.4, as applicable. 
  

	 	(d)	Non-MAP Nominated Targets. 

  

	 	(i)	 Non-MAP Target Package Plan. Promptly following the designation by MERCK of a Non-MAP Nominated Target, the Committee shall meet and, in
accordance with Section 2.4.1, shall determine (A) a research plan for developing a Target Package for such Non-MAP Nominated Target, (B) any changes to the data required for completion of such Target Package as set forth in Schedule
1.84, and (C) the amount of time estimated to complete the package, provided that such time shall be no longer than [**] months from the date of the Committee’s decision to adopt such package plan (unless otherwise extended by a
written decision of the Committee), and provided further that, in the event that the Committee fails to decide to adopt such package plan within [**] months after the date of MERCK’s

  

 -22- 

	 	 
designation of such Non-MAP Nominated Target pursuant to Section 3.4.2(c) above (other than as a result of MERCK’s election), then such [**] month period shall automatically be deemed
to begin as of the expiration of such [**] month period (collectively, the “Non-MAP Target Package Plan”). During the ongoing effort to complete such Target Package, AVEO and MERCK shall collaborate exclusively with each other with
respect to such Non-MAP Nominated Target. If, with respect to any Non-MAP Nominated Target, AVEO fails to complete all activities as provided in the Non-MAP Target Package Plan and to deliver all such data and information required thereby to MERCK
within the timeframe required above (or, if applicable, as extended by a written decision of the Committee), then: (x) MERCK shall be permitted to use the data generated by AVEO in the course of preparing such incomplete Non-MAP Target Package
for Internal Research Purposes in the Field, and (y) AVEO may not use the MERCK Microarray Data received from MERCK relating to such Non-MAP Nominated Target for any purpose. 

  

	 	(ii)	Update to Outside Neutral. Upon the Committee’s approval of a Non-MAP Target Package Plan for a Non-MAP Nominated Target, Merck shall, within [**] days
thereafter (or, if applicable, as extended by the Parties in writing), submit to the Outside Neutral a true and complete updated list of MERCK Active Programs as of the date that the Committee approved such Non-MAP Target Package Plan. If a Non-MAP
Nominated Target has become, as of the Committee’s approval of the Non-MAP Target Package Plan for such Nominated Target, the subject of a MERCK Active Program that MERCK did not initiate based on or as a direct result of any data or
information received from AVEO pursuant to this Agreement, then MERCK shall notify AVEO in writing of such change. Upon AVEO’s receipt of such notice, such Nominated Target shall no longer be a Non-MAP Nominated Target, and shall thereafter be
deemed to be a “MAP Nominated Target” that is subject to the terms and conditions of Section 3.4.2(e); provided, however, that AVEO may, at its discretion, submit an inquiry to the Outside Neutral pursuant to
Section 3.4.3 in order to verify any such change in designation by MERCK. In no event shall the information provided by MERCK to the Outside Neutral be provided to AVEO except pursuant to Section 3.4.3 or any Third Party unless there is a
subsequent dispute over whether MERCK has complied with the provisions of Section 3.4.3 relating to the existence of a MERCK Active Program. 

  

	 	(iii)	 MERCK Option For Non-MAP Nominated Targets. Upon completion of the Target Package for a Non-MAP Nominated Target, AVEO shall deliver such Target
Package to MERCK. MERCK shall have [**] days from its receipt of such Target Package (or, if applicable, as extended by the Parties in writing) to notify AVEO in writing whether it is exercising its Option relating to such Non-MAP Nominated Target.
If MERCK exercises its Option relating to such Non-MAP Nominated Target, then such Target shall become a Non-MAP Collaboration Target

  

 -23- 

	 	 
and MERCK shall pay the milestone set forth in Section 5.3.1(1)(a). If MERCK fails to exercise its Option relating to such Non-MAP Nominated Target within the applicable [**]-day period (or,
if applicable, as extended by the Parties in writing), then such Non-MAP Nominated Target shall be a Retained Target pursuant to Section 3.1.7. In such an event, (i) MERCK shall be permitted to use the data contained in the Target Package
for Internal Research Purposes, but for no other purpose, and (ii) except as set forth below in this Section 3.4.2(d)(iii), for [**] months after MERCK receives the Target Package for such Non-MAP Nominated Target, MERCK shall not
undertake chemistry or high throughput screening specifically for the purpose of identifying modulators of such Non-MAP Nominated Target unless the relevant information contained in the Target Package is publicly disclosed through no fault of MERCK.

 Notwithstanding the foregoing, with respect to any Non-MAP Nominated Target that becomes a Retained Target
as a result of MERCK’s failure to exercise its Option pursuant to this Section 3.4.2(d)(iii), and with respect to which AVEO has not (A) encumbered or entered into discussions or negotiations with any third party regarding the
licensing or exploitation of AVEO Information and Inventions or AVEO Know-How related to such Retained Target, or (B) allocated significant resources to the research or development of such Retained Target (each, an “Available Retained
Target”), MERCK may, by written notice to AVEO at any time during the Option Period, exercise its Option to designate such Available Retained Target as a Non-MAP Collaboration Target as if such Retained Target were a Non-MAP Nominated
Target hereunder. 
  

	 	(e)	Research Collaboration for MAP Nominated Targets. 

  

	 	(i)	MAP Target Research Plan. MERCK and AVEO may collaborate with respect to each MAP Nominated Target, on a Target-by-Target basis, as set forth in this
Section 3.4.2(e). Following MERCK’s designation of a MAP Nominated Target, the Committee shall meet to develop, in accordance with Section 2.4.1, a research plan relating to such MAP Nominated Target including the total number of AVEO
FTEs and the responsibilities thereof (the “MAP Target Research Plan”). Each MAP Target Research Plan approved by the Committee shall be deemed to be part of the Research Plan, and shall be attached as a separate schedule thereto.
Upon payment of the MAP Technology Access Fee set forth in Section 3.4.2(e)(ii)(A) below with respect to a MAP Nominated Target, such MAP Nominated Target shall be deemed to be a “MAP Collaboration Target” for all purposes
hereunder. 

  

 -24- 

	 	(ii)	Financial Terms. 

  

	 	(A)	Technology Access Fee. Within thirty (30) days after the Committee’s approval of the MAP Target Research Plan for each MAP Nominated Target, MERCK
shall pay AVEO a technology access fee of [**] Dollars (US $[**]) (the “MAP Technology Access Fee”). 

  

	 	(B)	Research Funding. In consideration for AVEO’s research and development activities pursuant to each MAP Target Research Plan that is approved by the
Committee in accordance with Section 2.4.1, MERCK shall pay AVEO at the rate of [**] Dollars (US$[**]) per AVEO FTE. 

  

	 	(C)	Milestones. For each MAP Collaboration Target, MERCK shall also pay AVEO milestone payments in accordance with Section 5.3.1(1)(c) through 5.3.1(1)(f) and
5.3.1(2) as if the MAP Collaboration Target were a Non-MAP Collaboration Target, provided that, such milestone payments shall begin upon the achievement of the milestone set forth in Section 5.3.1(1)(c), inclusive of such milestone, and
shall in all cases be reduced to an amount that is equal to [**] percent ([**]%) of the amounts set forth in Section 5.3.1 for each milestone therein. 

  

	 	(D)	No Royalties. Notwithstanding the provisions of Section 5.4, MERCK shall have no obligation to pay any royalties to AVEO under this Agreement with respect
to MAP Nominated Targets or MAP Collaboration Targets, including the rights and licenses granted under Section 3.1.4. 

  

	 	(f)	Target Packages Submitted Prior To Restatement Effective Date. The Parties acknowledge and agree that all Target Packages submitted by AVEO to MERCK prior
to the Restatement Effective Date are hereby deemed to be complete as of their respective dates of delivery, and nothing in this Agreement shall require any additional work to be performed by AVEO with respect to such Target Packages.
Notwithstanding the terms and conditions of Section 3.4.2, all of such Target Packages shall be subject to the [**] day Option period set forth in Section 3.4.2(d)(iii) above, provided, however, that (i) the [**] day
Option period for each such Target Package shall be deemed to have begun (or begin, as applicable) (A) with respect to any Target Package received by MERCK in calendar year 2004, upon receipt of such Target Package by MERCK, and (B) with
respect to any Target Package received MERCK in calendar year 2005, [**] days after MERCK’s receipt of such Target Package (and, in each case, nothing herein shall extend such period unless otherwise agreed to by the Parties in writing),
(ii) all such Targets with respect to which MERCK has not or does not exercise its Option within the applicable Option period shall be deemed to be Expired Targets (regardless of whether such Targets were the subject of a MERCK Active Program
as of the submission of the relevant Target Package), (iii) any such Targets with respect to which MERCK exercises its Option within the applicable Option period and which were not at the time of submission of the relevant Target Package the
subject of a Merck Active Program, shall be deemed to be Non-MAP Collaboration Targets under this Agreement, and (iv) any such Targets with respect to which Merck exercises its Option within the applicable Option period and which were at the
time of submission of the relevant Target Package the subject of a Merck Active Program, shall be deemed to be MAP Nominated Targets under this Agreement and subject to the terms and conditions of Section 3.4.2(e) hereof.

  

 -25- 

	3.4.3 	Inquiries to Outside Neutral. In the event that AVEO in good faith believes that MERCK has improperly designated a Nominated Target based on
whether a MERCK Active Program existed, AVEO shall notify MERCK in writing of such belief, and if AVEO is not satisfied with MERCK’s explanation, then AVEO may inquire of the Outside Neutral whether MERCK has previously identified a particular
Nominated Target as being the subject of a MERCK Active Program prior to the Relevant Non-MAP Dates and the Relevant MAP Date, as applicable. All communications between AVEO and the Outside Neutral shall be in writing, with a copy to MERCK. In no
event shall the Outside Neutral provide any information to AVEO except in response to a specific written inquiry relating to a specified Nominated Target. In the event of a dispute between the Parties regarding MERCK’s designation of a
Nominated Target as either a MAP Nominated Target or a Non-MAP Nominated Target, AVEO and MERCK shall cooperate in order to resolve such dispute in accordance with Section 9.6. 

  

	3.4.4 	Substitution of Non-MAP Collaboration Targets. At any time during the Option Period (as defined in Section 3.4.5 below), MERCK may, in its sole
discretion, but subject to the limitations set forth in Sections 3.4.2, and 3.4.1: (a) inform AVEO in writing that it wishes to replace a Non-MAP Collaboration Target for which MERCK has previously exercised its Option with a different
Potential Collaboration Target that is not an AVEO Target, or (b) select an additional Non-MAP Collaboration Target to replace a Non-MAP Collaboration Target that has qualified as a Discovery Target. For purposes of clarity, MERCK’s rights
under this Section 3.4.4 shall not apply to any AVEO Target. Upon providing such written notice, and upon payment of the milestone set forth in 5.3.1(1)(a), MERCK shall have the licenses to such new Non-MAP Collaboration Target set forth in
Sections 3.1.1, 3.1.2, and 3.1.3. Rights to a Non-MAP Collaboration Target that is replaced pursuant to Section 3.4.4(a) (the “Replaced Target”) shall revert in full to AVEO, and MERCK shall provide to AVEO a MERCK Non-MAP
Collaboration Target Package relating to such Non-MAP Collaboration Target as provided in Section 3.5(b); provided, however, that MERCK shall retain the right to use Joint Information and Inventions and MERCK Information and
Inventions for all purposes outside the Field, and relating to such Replaced Target for Internal Research Purposes in the Field. 

  

	3.4.5 	 Duration of MERCK’s Option Rights. Unless MERCK terminates the Research Program prior to the end of the Initial Research
Program Term (in which case, the Option Period shall be deemed immediately terminated), the period of time during which AVEO shall be obligated to present Target Packages to MERCK subject to and in accordance with Section 3.4.2, shall continue
for the duration of the Research Program Term, and for a period of [**] months thereafter (the “Option Period”). Notwithstanding anything to the contrary in this Agreement, (i) AVEO shall have no obligation to conduct
any research

  

 -26- 

	 	 
other than pursuant to the Research Plan (including pursuant to any Non-MAP Target Package Plan or MAP Target Research Plan) and during the Research Program Term, (ii) at the end of the
Option Period, except as otherwise set forth in this Agreement (including but not limited to MERCK’s right to use AVEO Information and Inventions or AVEO Know-How for Internal Research Purposes), (A) all rights under MERCK Know-How and
MERCK Patent Rights relating to Expired Targets (as defined below) shall in each case (to the extent such rights have not already reverted to MERCK) immediately and unconditionally revert to MERCK, and (B) all rights under AVEO Know-How and
AVEO Patent Rights relating to Expired Targets (as defined below) shall in each case (to the extent such rights have not already reverted to AVEO) immediately and unconditionally revert to AVEO. For purposes of clarity, nothing contained in this
Section 3.4.5 shall be deemed: (A) to limit or prevent MERCK in any way from pursuing any Potential Collaboration Target using intellectual property other than: (i) AVEO Know-How and AVEO Patent Rights, or (ii) any other
intellectual property Controlled by AVEO, or (B) to provide MERCK with any right to exercise any Option, with respect to any Non-MAP Nominated Targets, after the expiration of the [**] period set forth in Section 3.4.2(d)(iii) with respect
thereto (or, if applicable, as extended by the Parties in writing), or with respect to any Available Retained Target, after the expiration of the Option Period (or, if applicable, as extended by the Parties in writing). As used in this Agreement,
the term “Expired Targets” shall mean all Potential Collaboration Targets (including, without limitation, Non-MAP Nominated Targets and MAP Nominated Targets) that are not, in each case, as of the expiration of the Option Period,
either Non-MAP Collaboration Targets, MAP Collaboration Targets, or Discovery Targets. 

  

	3.5	Research, Development and Commercialization 

  

	 	(a)	Collaboration Models. AVEO shall use Commercially Reasonable Efforts to develop the Collaboration Models pursuant to the Research Plan. 

 

	 	(b)	Non-MAP Collaboration Targets. MERCK shall use Commercially Reasonable Efforts, at its own expense, to conduct pre-clinical research on Non-MAP Collaboration
Targets in order to advance the research relating to such Non-MAP Collaboration Targets such that they qualify as Discovery Targets, and shall notify AVEO in writing promptly upon qualification as Discovery Targets. If MERCK fails to exercise
reasonable diligence in pursuing research regarding a Non-MAP Collaboration Target such that it qualifies as a Discovery Target within a reasonable period as determined by the Committee (but in any case within [**] months after such Target is first
designated as a Non-MAP Collaboration Target), or if such Non-MAP Collaboration Target otherwise reverts to AVEO pursuant to Section 3.1.7(ii)(b) or (d), all AVEO Patent Rights and AVEO Know-How relating to such Non-MAP Collaboration Target
shall revert to AVEO, and MERCK shall, upon AVEO’s request, provide the MERCK Non-MAP Collaboration Target Data Package for such Non-MAP Collaboration Target to AVEO, and AVEO shall be permitted to use and otherwise exploit the information
contained in such MERCK Non-MAP Collaboration Target Data Package for research and commercialization purposes; provided, however, that MERCK shall retain the right to use Joint Information and Inventions and MERCK Information and
Inventions for all purposes outside the Field, and relating to such Non-MAP Collaboration Target for Internal Research Purposes in the Field. 

  

 -27- 

	 	(c)	Discovery Targets. MERCK shall use Commercially Reasonable Efforts, at its own expense, to conduct pre-clinical research on Discovery Targets in order to
identify Development Candidates Directed at such Discovery Target. If MERCK fails to identify Development Candidates Directed at such Discovery Target within a reasonable period as determined by the Committee, or if rights to such Discovery Target
otherwise revert to AVEO pursuant to Section 3.1.7(ii)(b) or (d), all AVEO Patent Rights and AVEO Know-How relating to such Discovery Target shall revert to AVEO, and MERCK shall, upon AVEO’s request, provide the MERCK Discovery Target
Data Package for such Discovery Target to AVEO, and AVEO shall be permitted to use and otherwise exploit the information contained in such MERCK Discovery Target Data Package for research and commercialization purposes; provided,
however, that MERCK shall retain the right to use Joint Information and Inventions and MERCK Information and Inventions for all purposes outside the Field, and related to such Discovery Target for Internal Research Purposes in the Field. In
the event that such Discovery Target becomes an AVEO Target pursuant to this Section, AVEO and MERCK shall, at AVEO’s request made within [**] days of AVEO’s receipt of the MERCK Discovery Target Data Package, negotiate in good faith
concerning the license to AVEO of compounds discovered or developed by MERCK related to such Discovery Target that MERCK, in its sole discretion, elects to out-license, upon terms to be negotiated in good faith by the Parties and reflected in a
separate agreement. For the avoidance of doubt, MERCK shall be under no obligation to enter any agreement with AVEO, to provide AVEO with any particular terms in comparison to any other potential licensee, or to give AVEO preference over any other
potential licensee. 

  

	 	(d)	Products. MERCK shall use Commercially Reasonable Efforts, at its own expense, to develop and commercialize each Product on a commercially reasonable basis in
such countries in the Territory where in MERCK’s opinion it is commercially viable to do so. 

  

	3.6	Excused Performance 

 In addition to the provisions of Article 6 hereof, the obligations of MERCK with respect to any Product under Section 3.5 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or
efficacy of the Product, and the obligation of MERCK to develop or market any such Product shall be delayed or suspended so long as in MERCK’s opinion any such condition or event exists. 
  

 -28- 

	3.7	Additional Targets 

  

	3.7.1 	Additional Biological Targets. Additional Biological Targets shall not be deemed to be Potential Collaboration Targets unless (i) MERCK
notifies AVEO that it desires to nominate an Additional Biological Target as a Non-MAP Nominated Target, and (ii) AVEO, in its sole discretion, expressly agrees in writing that such Additional Biological Target shall be deemed to be a Potential
Collaboration Target. 

  

	3.7.2 	Additional Model Targets. AVEO may, in its sole discretion, communicate to MERCK that it desires to provide data to MERCK regarding an Additional
Model Target. In such case, MERCK and AVEO may negotiate the terms upon which AVEO would be willing to disclose and MERCK would be willing to accept such data. AVEO shall have no obligation to disclose any data or otherwise grant any rights to MERCK
with respect to any Additional Model Target, and MERCK shall have no obligation to accept or receive any such data or rights, unless and until AVEO and MERCK enter into a mutually acceptable written agreement with respect thereto.

  

	3.7.3 	Additional Dual Targets. With respect to each Non-MAP Collaboration Target that is an Additional Dual Target, a Collaboration Compound shall
exclude the rights set forth in Section 1.8(c)(ii) unless (i) MERCK notifies AVEO that it desires to include within the definition of Collaboration Compounds for such Target Biologicals that are intended to and actually inhibit or
modulate the activity of such Target, and (ii) AVEO, in its sole discretion, expressly agrees in writing pursuant to this Section 3.7.3 that Biologicals that are intended to and actually inhibit or modulate the activity of such Target
shall be included within the definition of Collaboration Compound specifically for such Target. 

  

	4.	CONFIDENTIALITY AND PUBLICATION 

  

	4.1	Nondisclosure Obligation 

 All Information disclosed by one Party to the other Party hereunder shall be maintained in confidence by the receiving Party and shall not be disclosed to a Third Party or used for any purpose except as set forth herein without the prior
written consent of the disclosing Party, except to the extent that such Information: 
  

	 	(a)	is known by receiving Party at the time of its receipt, and not through a prior disclosure by the disclosing Party, as documented by the receiving Party’s business
records; 

  

	 	(b)	is properly in the public domain through no fault of the receiving Party; 

  

	 	(c)	is subsequently disclosed to the receiving Party by a Third Party who may lawfully do so and is not under an obligation of confidentiality to the disclosing Party;

  

	 	(d)	is developed by the receiving Party independently of Information received from the disclosing Party, as documented by the receiving Party’s business records;

  

	 	(e)	is disclosed to governmental or other regulatory agencies in order to obtain patents or to gain or maintain approval to conduct clinical trials or to market Product,
but such disclosure may be only to the extent reasonably necessary to obtain patents or authorizations; 

  

 -29- 

	 	(f)	is deemed necessary (i) by MERCK to be disclosed to Related Parties, agents, consultants, and/or other Third Parties for development (including regulatory
approvals), manufacturing and/or marketing of a Product (or for such parties to determine their interest in performing such activities) in accordance with this Agreement, or (ii) by AVEO to be disclosed to such Third Parties that are permitted
pursuant to Section 2.2 to perform its Research Program activities, in either case on the condition that such Third Parties agree to be bound by the confidentiality and non-use obligations contained this Agreement, provided the term of
confidentiality for such Third Parties shall be no less than seven (7) years; or 

 Any combination of
features or disclosures shall not be deemed to fall within the foregoing exclusions merely because individual features are published or available to the general public or in the rightful possession of the receiving Party, unless the combination
itself and principle of operation are published or available to the general public or in the rightful possession of the receiving party. For purposes of clarity, a scientific association between a Target with a disease or therapeutic area shall not
be deemed to fall within the foregoing exclusions merely because such Target (and/or the gene sequence of such Target) is published or available to the general public. 
 If a Party is required by judicial or administrative process to disclose Information that is subject to the non-disclosure provisions of this Section 4.1 or Section 4.2, such Party shall
promptly inform the other Party of the disclosure that is being sought in order to provide the other Party an opportunity to challenge or limit the disclosure obligations. Information that is disclosed by judicial or administrative process shall
remain otherwise subject to the confidentiality and non-use provisions of this Section 4.1 and Section 4.2, and the Party disclosing Information pursuant to law or court order shall take all steps reasonably necessary, including without
limitation obtaining an order of confidentiality, to ensure the continued confidential treatment of such Information. 
  

	4.2	AVEO Know-How 

 AVEO agrees to keep all AVEO Know-How relating to Non-MAP Collaboration Targets, Discovery Targets, Collaboration Compounds and/or Products confidential subject to exception (b) in Section 4.1 above; provided,
however, AVEO shall be free to disclose AVEO Know-How (i) outside of the Field for any purpose, including but not limited to the purpose of researching, developing and commercializing Biologicals, (ii) in the exercise of any right
retained by AVEO or any right that reverts to AVEO, including, without limitation, any use and exploitation of the AVEO Targets, (iii) in connection with the prosecution, maintenance, enforcement or defense of any Patent Rights, (iv) in
connection with the enforcement of the terms of this Agreement, (v) as required by law or any governmental authority, or (vi) to a limited number of potential investors for purposes of any equity or debt financing, provided,
however, that AVEO shall not disclose the Research Plan or any portion thereof or the identity of any specific Potential

  

 -30- 

 
Collaboration Target, Non-MAP Collaboration Target, MAP Collaboration Target, Discovery Target, Non-MAP Nominated Target or MAP Nominated Target to such potential investors. For purposes of
clarification, AVEO shall not be prohibited from disclosing AVEO-Controlled information that is not AVEO Know-How, including but not limited to, discoveries, processes, methods, protocols, formulas, data, inventions, know-how and trade secrets,
patentable or otherwise that are necessary or useful in connection with or that claim or cover the Collaboration Models or any other method, material, tool or technology conceived or used by or on behalf of AVEO for the discovery of any target,
other than the Non-MAP Collaboration Targets, Discovery Targets, Collaboration Compounds and/or Products. 
  

	4.3	Publication 

 MERCK
and AVEO each acknowledge the other Party’s interest in publishing the results of its research in order to obtain recognition within the scientific community and to advance the state of scientific knowledge. Each Party also recognizes the
mutual interest in obtaining valid patent protection and in protecting business interests and trade secret information. Consequently, except for disclosures permitted pursuant to Section 4.1, either Party, its employees or consultants wishing
to make a publication arising from the conduct of the Research Program shall deliver to the other Party a copy of the proposed written publication or an outline of an oral disclosure at least sixty (60) days prior to submission for publication
or presentation. The reviewing Party shall have the right (a) to propose modifications to the publication or presentation for patent reasons, trade secret reasons or business reasons, or (b) to request a reasonable delay in publication or
presentation in order to protect patentable information. If the reviewing Party requests a delay, the publishing Party shall delay submission or presentation for a period of ninety (90) days to enable patent applications protecting each
Party’s rights in such information to be filed in accordance with Article 7 below. Upon expiration of such ninety (90) days, the publishing Party shall be free to proceed with the publication or presentation. If the reviewing Party
requests modifications to the publication or presentation, the publishing Party shall edit such publication to prevent disclosure of trade secret or proprietary business information prior to submission of the publication or presentation. 

 

	4.4	Publicity/Use of Names 

 No disclosure of the existence of, or the terms of, this Agreement may be made by either Party, and no Party shall use the name, trademark, trade name or logo of the other Party or its employees in any publicity, news release or disclosure
relating to this Agreement or its subject matter, without the prior express written permission of the other Party, except as provided in Section 4.4(a), (b), (c) or (d). 
 (a) Either Party shall be permitted to disclose the existence and terms of this Agreement to the extent required, in the reasonable opinion
of such Party’s legal counsel, to comply with applicable laws, including without limitation the rules and regulations promulgated by the United States Securities and Exchange Commission or any other governmental agency. Notwithstanding the
foregoing, before disclosing this Agreement or any of the terms hereof pursuant to this Section 4.4(a), the Parties will consult with one another on the terms of this Agreement to be redacted in making any such disclosure. If a Party discloses
this Agreement or any of the terms hereof in accordance with this Section 4.4(a), such Party agrees, at its own expense, to seek confidential treatment of the portions of this Agreement or such terms, as may be reasonably requested by the other
Party. 
  

 -31- 

 (b) Either Party may also disclose the existence and terms of this Agreement to potential
acquirors, investors or lenders of such Party, as a part of their due diligence investigations, provided that such potential acquirors, investors or lenders have agreed in writing to keep the terms of this Agreement confidential and to use such
confidential information solely for the purpose permitted pursuant to this Section 4.4(b), provided, however, that AVEO shall not disclose the Research Plan or any portion thereof or the identity of any specific Potential
Collaboration Target, Nominated Target, Non-MAP Collaboration Target, MAP Collaboration Target or Discovery Target to such potential investors. Further, either Party may freely disclose any information that has been previously approved for
disclosure by the other Party. 
 (c) The Parties hereby acknowledge that, following the Effective Date, AVEO issued a press
release substantially similar to that set forth in Schedule 4.4(c). Following the Restatement Effective Date, AVEO may at its discretion issue a press release regarding this Agreement, provided that such release will be subject to MERCK’s prior
review and written approval. 
 (d) Upon the request of AVEO, AVEO and MERCK shall agree upon the text of a redacted copy of the
Agreement that AVEO shall be permitted to disclose to potential Third Party collaborators outside of the Field, on the condition that such Third Parties agree to be bound by the confidentiality and non-use obligations contained in this Agreement,
and provided the term of confidentiality for such Third Parties shall be no less than seven (7) years. 
  

	5.	PAYMENTS; ROYALTIES AND REPORTS 

  

	5.1	Payments 

  

	5.1.1 	In consideration for the option rights granted to MERCK in Section 3.4 with respect to Potential Collaboration Targets and in reimbursement of research and
development expenditures previously made by AVEO, AVEO acknowledges that, in November 2003, it received from MERCK a non-refundable up-front payment of Seven Million Dollars (US$7,000,000). 

  

	5.1.2 	In consideration for the rights granted to MERCK in Section 5.3.2, MERCK shall pay to AVEO Two Million Dollars (US$2,000,000) within thirty (30) days
after the Restatement Effective Date, and an additional Two Million Dollars (US$2,000,000) on the first anniversary of the Restatement Effective Date. 

  

	5.1.3 	MERCK hereby agrees to purchase Five Million Dollars (US$5,000,000.00) of Series C Preferred Stock of AVEO pursuant to the terms of the Series C Convertible
Preferred Stock Purchase Agreement entered into by the Parties concurrently with this Agreement. 

  

 -32- 

	5.2	Research Program Funding 

 In consideration for AVEO’s performance of its obligations under the Research Program, upon the terms and conditions contained herein, MERCK shall pay AVEO [**] Dollars (US$[**]) per Calendar Quarter during the Research Program Term
payable each Calendar Quarter. The first payment shall be pro-rated based on the number of days remaining in that Calendar Quarter and was made within ten (10) days of the Effective Date, and the payments thereafter shall be made by the first
day of each Calendar Quarter during the Research Program Term, with the final payment pro-rated based on the number of days in such Calendar Quarter preceding the date of expiration of the Research Program Term. 
  

	5.3	Milestone Payments 

  

	5.3.1 	Non-MAP Collaboration Targets. Subject to the terms and conditions in this Agreement (including, but not limited to, the provisions of
Section 3.4.2(e)(ii)(C) with respect to MAP Collaboration Targets), MERCK shall pay to AVEO the following non-refundable, non-creditable milestone payments: 

  

				
	 (1)    [**]
	  		
		
	          (a) [**]
	  	[	**] 
		
	          (b) [**]
	  	[	**] 
		
	          (c) [**]
	  	[	**] 
		
	          (d) [**]
	  	[	**] 
		
	          (e) [**]
	  	[	**] 
		
	          (f) [**]
	  	[	**] 
		
	 (2)    [**]
	  		
		
	          (a) [**]
	  	[	**] 
		
	          (b) [**]
	  	[	**] 
		
	          (c) [**]
	  	[	**] 
		
	          (d) [**]
	  	[	**] 

  

	5.3.2 	Fast-Track HTS. Notwithstanding Section 5.3.1(1)(b) above, (a) for a period of two (2) years starting upon the Restatement Effective Date
and continuing through the Option Period, MERCK may advance the research regarding up to [**] Non-MAP Collaboration Targets per year such that they qualify as Discovery Targets without any obligation to pay the milestone payment set forth in
Section 5.3.1(1)(b), and (b) for each calendar year after the second anniversary of the Restatement Effective Date that falls wholly or partially within the Option Period, MERCK may advance the research regarding up to [**] Non-MAP
Collaboration Targets for such annual period within the Research Program Term such that they qualify as Discovery Targets without any obligation to pay the milestone payment set forth in Section 5.3.1(1)(b), provided that MERCK pays to
AVEO a fee of [**] Dollars (US$[**]) for such calendar year or portion thereof. Except as expressly set forth in the foregoing sentence, the milestone payment obligation in Section 5.3.1(1)(b) shall remain in full force and effect.

  

 -33- 

	5.3.3 	Payment of Milestones. Upon the achievement of each milestone, MERCK shall notify AVEO in writing within thirty (30) days of such achievement,
and shall make the appropriate milestone payment within thirty (30) days of such achievement. A milestone payment shall be payable only upon the initial achievement of such milestone and no amounts shall be due hereunder for subsequent or
repeated achievement of such milestone for the same Non-MAP Collaboration Target or MAP Collaboration Target, in the case of Section 5.3.1(1), or for the same Product, in the case of Section 5.3.1(2); provided, however, that,
with respect to each Additional Dual Target, a milestone payment shall be payable upon the initial achievement of such milestone for both a chemical entity and a Biological inhibitor or modulator of such Target. Upon the achievement of a particular
milestone for a Non-MAP Collaboration Target, MAP Collaboration Target or Product, as applicable, all preceding milestones for such Non-MAP Collaboration Target, MAP Collaboration Target or Product, as applicable, shall be deemed achieved to the
extent not previously achieved and shall be paid contemporaneously therewith; provided, however, that the milestones payable under Sections 5.3.1(1)(a) and (b) shall under no condition be payable for any MAP Nominated Target or
MAP Collaboration Target. 

  

	5.4	Royalties 

  

	5.4.1 	Royalties Payable By MERCK. Subject to the terms and conditions of this Agreement, MERCK shall pay to AVEO royalties, calculated on a
Product-by-Product basis, as set forth in this Section 5.4.1. 

  

	5.4.1.1 	Patent Royalties; Competitive Product. 

  

	 	(a)	Royalty Tiers. Subject to the provisions of Section 5.4.1.1(b) and (c) and Section 5.4.1.2, MERCK shall pay AVEO in an amount equal to the
following percentage of Net Sales of Products by MERCK or its Related Parties, provided the sale of the Product would infringe a Valid Patent Claim in the country of sale: 

  

	 	(i)	[**] percent ([**]%) of worldwide Net Sales in each Calendar Year up to and including [**] Dollars ($US [**]); 

  

	 	(ii)	[**] percent ([**]%) of worldwide Net Sales in each Calendar Year on the increment of Net Sales which exceed [**] Dollars ($US [**]) and up to and including [**]
Dollars ($US [**]); and 

  

	 	(iii)	[**] percent ([**]%) of worldwide Net Sales in each Calendar Year on the increment of Net Sales over [**] Dollars ($US [**]). 

  

	 	(b)	Competitive Products. If the sale of a Product would not, absent the license hereunder, infringe a Valid Patent Claim of a AVEO Patent Right in the country of
sale, then notwithstanding the provisions of Section 5.4.1.1(a) above, in countries where a Competitive Product is sold, the royalty payable by MERCK to AVEO shall be [**] percent ([**]%) of Net Sales by MERCK or its Related Parties. The Net
Sales on which such royalties are based shall not be included in calculating the royalty tiers under Section 5.4.1.1(a) above. 

  

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	5.4.1.2 	Know-How Royalty. Notwithstanding the provisions of Section 5.4.1. above, in countries where the sale of Product by MERCK or its Related Parties would not
infringe a Valid Patent Claim, MERCK shall pay royalty rates that shall be set at [**] percent ([**]%) of the lowest applicable royalty rate determined according to 5.4.1.1., as applicable. Such royalties shall be calculated after first calculating
royalties under Section 5.4.1.1 above. 

  

	5.4.1.3 	Calculation of Royalty. Royalty tiers pursuant to 5.4.1.1 and 5.4.1.2 shall be calculated based on worldwide Net Sales of each Product, provided that the
determination of whether the royalty shall be calculated under 5.4.1.1(b) and/or 5.4.1.2 shall be determined on a country-by-country basis. Royalties on each Product at the rates set forth above shall continue on a country-by-country basis until the
expiration of the later of: (i) the last-to-expire Valid Patent Claim; or (ii) for a period of ten (10) years after First Commercial Sale of such Product in such country (the “Royalty Period”). All royalties are
subject to the following conditions: 

 (x) that only one royalty shall be due with respect to the same unit of
Product; 
 (y) that no royalties shall be due upon the sale or other transfer among MERCK or its Related Parties, but in such
cases the royalty shall be due and calculated upon MERCK’s or its Related Party’s Net Sales to the first independent Third Party; and 
 (z) no royalties shall accrue on the disposition of Product in reasonable quantities by MERCK or its Related Parties as samples (promotion or otherwise) or as donations (for example, to non-profit
institutions or government agencies for a non-commercial purpose). 
  

	5.4.2 	Change in Sales Practices. The Parties acknowledge that during the term of this Agreement, MERCK’s sales practices for the marketing and distribution
of Product may change to the extent to which the calculation of the payment for royalties on Net Sales may become impractical or even impossible. In such event the Parties agree to meet and discuss in good faith new ways of compensating AVEO to the
extent currently contemplated under Section 5.4.1; provided, however if the Parties cannot agree on new ways of compensating AVEO, the terms of this Agreement shall remain in full force and effect. 

  

	5.4.3 	Royalties for Bulk Product. In those cases where MERCK sells bulk Product that is not in a finished, packaged form to a Third Party, the royalty
obligations of Section 5.4.1 shall be applicable to the bulk Product; provided, however, that if MERCK obtains additional compensation relating to the use or commercialization of such bulk Product, then the Parties agree that
there shall be additional compensation to AVEO reflecting the value of such additional compensation in an amount to be mutually agreed upon by the Parties. 

  

	5.4.4 	Compulsory Licenses. If a compulsory license is granted to a Third Party with respect to Product in any country in the Territory with a royalty
rate lower than the royalty rate provided by Section 5.4.1, then the royalty rate to be paid by MERCK on Net Sales in that country under Section 5.4.1 shall be reduced to the rate paid by the compulsory licensee. 

 

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	5.4.5 	Third Party Licenses. In the event that one or more patent licenses from other Third Parties are required by MERCK or its Related Parties in order to
make, have made, use, offer to sell, sell and/or import any Collaboration Compound(s) or Product(s) (“Third Party Patent Licenses”), and, in the absence of such license, the use by MERCK of the AVEO Patent Rights, AVEO
Know-How or AVEO Information and Inventions would infringe such Third Party patents, [**] percent ([**]%) of the consideration actually paid under such Third Party Patent Licenses by MERCK or its Related Parties for sale of such Collaboration
Compound or Product in a country for a Calendar Quarter shall be creditable against the royalty payments due AVEO by MERCK with respect to the sale of such Collaboration Compound(s) or Product(s) in such country; provided, however,
that in no event shall the royalties owed by MERCK to AVEO for such Calendar Quarter in such country be reduced, as a result of the reduction set forth in this section and the set-offs provided in Sections 7.1(d) and 7.3(b), by more than [**]
percent ([**]%) of the applicable royalty rate set forth in Section 5.4.1.1; and any amounts not able to be reduced due to the immediately foregoing limitation shall be carried forward to future Calendar Quarters for crediting against future
royalties in such country. For purposes of clarity, the foregoing credit shall not apply to claims of Third Party Patent Rights which relate to composition of matter of any Collaboration Compound or Product, or to the formulation, manufacturing or
delivery thereof. 

  

	5.4.6 	Reports; Payment of Royalty. During the term of the Agreement following the First Commercial Sale of a Product, MERCK shall furnish to AVEO a
quarterly written report for the Calendar Quarter showing the Net Sales of all Products subject to royalty payments sold by MERCK and its Related Parties in the Territory during the reporting period and the royalties payable under this Agreement.
Reports shall be due on the sixtieth (60) day following the close of each Calendar Quarter. Royalties shown to have accrued by each royalty report shall be due and payable on the date such royalty report is due. MERCK shall keep complete and
accurate records in sufficient detail to enable the royalties payable hereunder to be determined. 

  

	5.5	Audits 

  

	 	(a)	Upon the written request of AVEO and not more than once in each Calendar Year, MERCK shall permit an independent certified public accounting firm of nationally
recognized standing selected by AVEO and reasonably acceptable to MERCK, at AVEO’s expense, to have access during normal business hours to such of the records of MERCK as may be reasonably necessary to verify the accuracy of the royalty reports
hereunder for any year ending not more than twenty-four (24) months prior to the date of such request. The accounting firm shall disclose to AVEO only whether the royalty reports are correct or incorrect and the specific details concerning any
discrepancies. No other information shall be provided to AVEO. 

  

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	 	(b)	If such accounting firm correctly identifies a discrepancy made during such period, the appropriate Party shall pay the other Party the amount of the discrepancy within
thirty (30) days of the date AVEO delivers to MERCK such accounting firm’s written report so correctly concluding, or as otherwise agreed upon by the Parties. The fees charged by such accounting firm shall be paid by AVEO unless the
underpayment exceeded the greater of [**] thousand dollars ($[**]) and five percent (5%) of the royalty owed by MERCK to AVEO for such Calendar Year, in which case, MERCK shall pay to AVEO the fees charged by such accounting firm.

  

	 	(c)	MERCK shall include in each sublicense granted by it pursuant to this Agreement a provision requiring the sublicensee to make reports to MERCK, to keep and maintain
records of sales made pursuant to such sublicense and to grant access to such records by AVEO’s independent accountant to the same extent required of MERCK under this Agreement. Upon the expiration of twenty-four (24) months following the
end of any year, the calculation of royalties payable with respect to such year shall be binding and conclusive upon AVEO, and MERCK and its Related Parties shall be released from any liability or accountability with respect to royalties for such
year. 

  

	 	(d)	AVEO shall treat all financial information subject to review under this Section 5.5 or under any sublicense agreement in accordance with the confidentiality and
non-use provisions of this Agreement, and shall cause its accounting firm to enter into an acceptable confidentiality agreement with MERCK and/or its Related Parties obligating it to retain all such information in confidence pursuant to such
confidentiality agreement. 

  

	5.6	Payment Exchange Rate 

 All payments to be made by MERCK to AVEO under this Agreement shall be made in United States dollars and may be paid by check made to the order of AVEO or bank wire transfer in immediately available funds to such bank account in the United
States designated in writing by AVEO from time to time. In the case of sales outside the United States, the rate of exchange to be used in computing the amount of currency equivalent in United States dollars due AVEO shall be made at the monthly
rate of exchange utilized by MERCK in its worldwide accounting system, prevailing on the third to the last business day of the month prior to the month in which such sales are recorded by MERCK. 
  

	5.7	Income Tax Withholding 

 If laws, rules or regulations require withholding of income taxes or other taxes imposed upon payments set forth in this Article 5, MERCK shall make such withholding payments as required and subtract such withholding payments from the
payments set forth in this Article 5. MERCK shall submit appropriate proof of payment of the withholding taxes to AVEO within a reasonable period of time. 
  

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	6.	REPRESENTATIONS AND WARRANTIES 

  

	6.1	Representations and Warranties of AVEO 

 AVEO represents and warrants to MERCK that as of the Restatement Effective Date: 
  

	 	(a)	to the best of AVEO’s knowledge, the AVEO Patent Rights and AVEO Know-How exist and are not invalid or unenforceable, in whole or in part;

  

	 	(b)	it has the full right, power and authority to enter into this Agreement, to perform the Research Program and to grant the licenses granted under Article 3 hereof;

  

	 	(c)	it has not previously assigned, transferred, conveyed or otherwise encumbered its right, title and interest in AVEO Patent Rights or AVEO Know-How;

  

	 	(d)	there are no claims, judgments or settlements against or owed by AVEO or pending or threatened claims or litigation relating to the AVEO Patent Rights and AVEO
Know-How; and 

  

	 	(e)	AVEO has disclosed to MERCK all reasonably relevant information regarding the AVEO Patent Rights and AVEO Know-How licensed under this Agreement.

  

	 	(f)	To the best of AVEO’s knowledge, the activities of AVEO pursuant to the Research Plan do not infringe patents issued to any Third Party. 

As used in this Section 6.1, the phrase ‘best of AVEO’S knowledge’ does not require that AVEO conduct any special
inquiry or patent searches, or obtain any patent opinions, with respect to the matter which is the subject of the representation and warranty. 
  

	6.2	Representations and Warranties of MERCK 

 MERCK represents and warrants to AVEO that as of the Restatement Effective Date: 
  

	 	(a)	it has the full right, power and authority to enter into this Agreement and to fulfill its obligations hereunder; and 

  

	 	(b)	all necessary consents, approvals and authorizations of all government authorities and other persons required to be obtained by MERCK in connection with the execution,
delivery and performance of this Agreement have been or shall be obtained. 

  

	6.3	No Warranties 

 EXCEPT AS OTHERWISE EXPRESSLY SET FORTH HEREIN, THE PARTIES MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, AND PARTICULARLY THAT POTENTIAL COLLABORATION TARGETS WILL BE IDENTIFIED OR THAT PRODUCT(S)
WILL BE SUCCESSFULLY DEVELOPED HEREUNDER, AND IF PRODUCT(S) ARE DEVELOPED, WITH RESPECT TO SUCH PRODUCT(S), THE PARTIES DISCLAIM ALL IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. 
  

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	6.4	Indemnification 

 MERCK agrees to defend AVEO and its Affiliates at its cost and expense, and will indemnify and hold AVEO and its Affiliates and their respective directors, officers, employees and agents (the “AVEO Indemnified Parties”)
harmless from and against any losses, costs, damages, fees or expenses arising out of any Third Party claim relating to personal injury or death from the development, manufacture, use, sale or other disposition of the Product(s) by MERCK and/or
its Related Parties or collaborators. In the event of any such claim against the AVEO Indemnified Parties by any Third Party, AVEO shall promptly notify MERCK in writing of the claim and MERCK shall manage and control, at its sole expense, the
defense of the claim and its settlement. The AVEO Indemnified Parties shall cooperate with MERCK and may, at their option and expense, be represented in any such action or proceeding. MERCK shall not be liable for any litigation costs or expenses
incurred by the AVEO Indemnified Parties without MERCK’s prior written authorization. In addition, MERCK shall not be responsible for the indemnification of any AVEO Indemnified Party arising from any negligent or intentional acts by such AVEO
Indemnified Party, or as the result of any settlement or compromise by the AVEO Indemnified Parties without MERCK’s prior written consent. 
  

	6.5	AVEO Patent Rights and Third Party License Agreements 

 AVEO represents and warrants that, during the term of the Agreement, it shall reasonably promptly update Subpart A of Schedule 1.7 to reflect any and all AVEO Patent Rights. In addition, AVEO shall
promptly notify MERCK in writing if it receives a notice of breach or default under any of the license agreements identified on Subpart B of Schedule 1.7. 
  

	7.	PATENT PROVISIONS 

  

	7.1	Filing, Prosecution and Maintenance of Patents 

  

	 	(a)	AVEO Patent Rights. AVEO shall have the first right and option to file and prosecute any patent applications and maintain any patents included in the AVEO Patent
Rights. AVEO shall provide MERCK with an opportunity to review and comment on any papers to be filed in any patent office prior to their submission relating to each Non-MAP Collaboration Target from and after the exercise by MERCK of its Option to
such Non-MAP Collaboration Target. AVEO shall promptly give notice to MERCK of the allowance, grant, lapse, revocation, surrender, invalidation or abandonment of any AVEO Patent Rights licensed to MERCK for which AVEO is responsible for the filing,
prosecution and maintenance. If AVEO declines to file and prosecute any such patent application or maintain any such patents covering any AVEO Patent Rights licensed to MERCK under this Agreement, it shall give MERCK reasonable notice to this effect
and thereafter MERCK may, upon written notice to AVEO, file and prosecute such patent applications and maintain such patents in AVEO’s name. For patents and patent applications within the AVEO Patent Rights licensed to MERCK but not owned by
AVEO, AVEO will use its reasonable efforts to arrange the same rights for MERCK with the owners of such patents and patent applications. 

  

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	 	(b)	Joint Information and Inventions. MERCK shall have the first right and option to file and prosecute patent applications included in Joint Patent Rights, and
maintain any patents included in Joint Patent Rights, at MERCK’s expense. MERCK shall provide AVEO with an opportunity to review and comment on any papers to be filed in any patent office prior to their submission relating to each Non-MAP
Collaboration Target. MERCK shall promptly give notice to AVEO of the allowance, grant, lapse, revocation, surrender, invalidation or abandonment of any Joint Patent Rights for which MERCK is responsible for the filing, prosecution and maintenance.
If MERCK declines to file and prosecute any such patent application or maintain any such patents covering any Joint Patent Rights, it shall give AVEO reasonable notice to this effect and thereafter AVEO may, upon written notice to MERCK, file and
prosecute such patent applications and maintain such patents in MERCK’s and AVEO’s names. 

  

	 	(c)	MERCK Information and Inventions. MERCK shall have the exclusive right and option to file and prosecute any patent applications and to maintain any patents
covering MERCK Information and Inventions, at MERCK’s expense. 

  

	 	(d)	Expenses. All costs associated with filing, prosecuting and maintaining the AVEO Patent Rights, including the costs of any interference, opposition,
reexamination or reissue proceeding, shall by borne by AVEO. If AVEO declines to file, prosecute and/or maintain any of the AVEO Patent Rights and MERCK assumes such responsibilities, the costs associated with such patents or patent applications
shall be [**] by MERCK and AVEO; provided that MERCK shall pay all such costs and shall recoup AVEO’s [**] percent ([**]%) share as a setoff against royalties or milestones until AVEO’s share has been fully paid, provided further
that the royalty payment to AVEO in any Calendar Quarter shall not, as a result of the setoffs provided in this section and in Section 7.3(b) and the reduction set forth in Section 5.4.5, be reduced by more than [**] percent ([**]%) of
the amount otherwise owed to AVEO; and any amounts not able to be reduced due to the immediately foregoing limitation shall be carried forward to future Calendar Quarters for setoff against future royalties. 

  

	7.2	Interference, Opposition, Reexamination and Reissue 

  

	 	(a)	AVEO shall, within ten (10) days of learning of such event, inform MERCK of any request for, or filing or declaration of, any interference, opposition, or
reexamination relating to AVEO Patent Rights. MERCK and AVEO shall thereafter consult and cooperate fully to determine a course of action with respect to any such proceeding. MERCK shall have the right to review and approve any submission to be made
in connection with such proceeding. 

  

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	 	(b)	AVEO shall not initiate any reexamination, interference or reissue proceeding relating to AVEO Patent Rights without the prior written consent to MERCK, which consent
shall not be unreasonably withheld. 

  

	 	(c)	In connection with any interference, opposition, reissue, or reexamination proceeding relating to AVEO Patent Rights, MERCK and AVEO will cooperate fully and will
provide each other with any information or assistance that either may reasonably request. AVEO shall keep MERCK informed of developments in any such action or proceeding, including, to the extent permissible by law, consultation and approval of any
settlement, the status of any settlement negotiations and the terms of any offer related thereto. 

  

	7.3	Enforcement and Defense 

  

	 	(a)	AVEO shall give MERCK notice of either (i) any infringement of AVEO Patent Rights, or (ii) any misappropriation or misuse of AVEO Know-How, that may come to
AVEO’s attention. MERCK and AVEO shall thereafter consult and cooperate fully to determine a course of action, including but not limited to the commencement of legal action by either or both MERCK and AVEO, to terminate any infringement of AVEO
Patent Rights or any misappropriation or misuse of AVEO Know-How. However, AVEO, upon notice to MERCK, shall have the first right to initiate and prosecute such legal action at its own expense and in the name of AVEO and MERCK, or to control the
defense of any declaratory judgment action relating to AVEO Patent Rights or AVEO Know-How. AVEO shall promptly inform MERCK if it elects not to exercise such first right and MERCK shall thereafter have the right to either initiate and prosecute
such action or to control the defense of such declaratory judgment action in the name of MERCK and, if necessary, AVEO. Each Party shall have the right to be represented by counsel of its own choice. 

  

	 	(b)	In the event that AVEO elects not to initiate and prosecute an action as provided in paragraph (a), and MERCK elects to do so, the costs of any agreed-upon course of
action to terminate infringement of AVEO Patent Rights or misappropriation or misuse of AVEO Know-How, including without limitation the costs of any legal action commenced or the defense of any declaratory judgment, shall be [**] by AVEO and MERCK;
provided that MERCK shall pay all such costs and shall recoup AVEO’s [**] percent ([**]%) share as a set-off against royalties or milestones until AVEO’s share has been fully paid; provided further that the royalty payment to
AVEO in any Calendar Quarter shall not, as a result of the setoffs provided in this section and Section 7.1(d) and the reduction set forth in Section 5.4.5, be reduced by more than [**] percent ([**]%) of the amount otherwise owed to AVEO;
and any amounts not able to be reduced due to the immediately foregoing limitation shall be carried forward to future Calendar Quarters for crediting against future royalties in such country. 

  

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	 	(c)	For any action to terminate any infringement of AVEO Patent Rights or any misappropriation or misuse of AVEO Know-How, in the event that MERCK is unable to initiate or
prosecute such action solely in its own name, AVEO will join such action voluntarily and will execute and cause its Affiliates to execute all documents necessary for MERCK to initiate litigation to prosecute and maintain such action. In connection
with any action, MERCK and AVEO will cooperate fully and will provide each other with any information or assistance that either may reasonably request. Each Party shall keep the other informed of developments in any action or proceeding, including,
to the extent permissible by law, the consultation and approval of any settlement negotiations and the terms of any offer related thereto. 

  

	 	(d)	Any recovery obtained by either or both MERCK and AVEO in connection with or as a result of any action contemplated by this section, whether by settlement or otherwise,
shall be shared in order as follows: 

  

	 	(i)	the Party which initiated and prosecuted the action shall recoup all of its costs and expenses incurred in connection with the action; 

  

	 	(ii)	the other Party shall then, to the extent possible, recover its costs and expenses incurred in connection with the action; 

  

	 	(iii)	the amount of any recovery remaining from ordinary damages shall then be allocated between the Parties such that MERCK shall receive an amount equal to its lost profits
or a reasonable royalty on the infringing sales, or whichever measure of damages the court shall have applied, and that AVEO shall receive a reasonable approximation of the royalties and other amounts that MERCK would have paid to AVEO if MERCK had
sold the infringing products rather than the infringer, and on a pro rata basis taking into consideration the relative economic losses suffered by each Party; and 

  

	 	(iv)	the amount of any recovery remaining from special or punitive damages shall be [**] in any such award. 

  

	 	(e)	Any recovery obtained by MERCK or its Related Parties as a result of any action relating to Third Party infringement based upon MERCK Patent Rights or Joint Patent
Rights, whether by settlement or otherwise, shall, after MERCK has recouped all of its costs and expenses incurred in connection with such action, be deemed to constitute Net Sales of Products for which royalties are payable under Section 5.4.

  

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	 	(f)	AVEO shall inform MERCK of any certification regarding any AVEO Patent Rights it has received pursuant to either 21 U.S.C. §§355(b)(2)(A)(iv) or
(j)(2)(A)(vii)(IV) or it successor provisions or any similar provisions in a country in the Territory other than the United States and shall provide MERCK with a copy of such certification within five (5) days of receipt. AVEO’s and
MERCK’s rights with respect to the initiation and prosecution of any legal action as a result of such certification or any recovery obtained as a result of such legal action shall be as defined in paragraphs 7.3(a)-(d) hereof;
provided, however, AVEO shall exercise its first right to initiate and prosecute any action and shall inform MERCK of such decision within ten (10) days of receipt of the certification, after which time MERCK shall have the right
to initiate and prosecute such action. 

  

	7.4	Patent Term Extension 

 The Parties hereto shall cooperate with each other in obtaining patent term extension or supplemental protection certificates or their equivalents in any country in the Territory where applicable to AVEO Patent Rights, MERCK Patent Rights
and/or Joint Patent Rights. In the event that elections with respect to obtaining such patent term extension are to be made, MERCK shall have the right to make the election and AVEO agrees to abide by such election. 
  

	8.	TERM AND TERMINATION 

  

	8.1	Term and Expiration 

 This Agreement shall be effective as of the Effective Date and unless terminated earlier pursuant to Sections 8.2 or 8.3 below, this Agreement shall continue in effect until expiration of all royalty obligations hereunder. Upon expiration
of this Agreement, MERCK’s licenses pursuant to Section 3.1 shall become fully paid-up, perpetual licenses. 
  

	8.2	Termination of Agreement by MERCK 

 Notwithstanding anything contained herein to the contrary, MERCK shall have the right to terminate this Agreement at any time in its sole discretion by giving one hundred twenty (120) days’
advance written notice to AVEO. Not later than thirty (30) days after the date of such termination, each Party shall return or cause to be returned to the other Party all Information in tangible form received from the other party and all copies
thereof, except that each Party may retain one copy in its confidential files for records purposes. In the event of termination under this Section 8.2: (i) each Party shall pay all amounts then due and owing as of the termination date; and
(ii) except for the provisions of Section 8.3.2(b) and the surviving provisions set forth in Section 8.4 hereof, the rights and obligations of the Parties hereunder shall terminate as of the date of such termination; provided,
however, that MERCK shall have a fully paid-up non-exclusive license to use AVEO Information and Inventions and AVEO’s interest in Joint Information and Inventions for Internal Research Purposes. 
  

 -43- 

	8.3	Termination of Agreement for Cause 

  

	8.3.1 	Cause for Termination. This Agreement may be terminated at any time during the term of this Agreement upon written notice by either Party if the
other Party is in breach of its material obligations hereunder and has not cured such breach within [**] days after notice requesting cure of the breach (other than for non-payment which must be cured within [**] days); provided,
however, in the event of a good faith dispute with respect to the existence of a material breach, the [**] day or [**] day cure period shall be tolled until such time as the dispute is resolved pursuant to Section 9.6 hereof.

  

	8.3.2 	Effect of Termination on License 

  

	 	(a)	If MERCK terminates this Agreement under Section 8.3.1, (i) at MERCK’s option MERCK’s licenses pursuant to Section 3.1 shall become perpetual
licenses; provided, however, MERCK shall continue to fulfill MERCK’s payment and/or royalty obligations as specified herein, and provided, further, MERCK may reduce such payment and/or royalty obligations by the
amount of monetary damage suffered by MERCK as a direct result of AVEO’s breach of this Agreement; and (ii) AVEO shall, within thirty (30) days after such termination return or cause to be returned to MERCK all MERCK Information in
tangible form, and all substances or compositions delivered or provided by MERCK, as well as any other material provided by MERCK in any medium. 

  

	 	(b)	If AVEO terminates this Agreement under Section 8.3.1 or if MERCK terminates under Section 8.2, MERCK’s licenses pursuant to Section 3.1 shall
terminate and the covenant not to sue in Section 3.2.1 shall terminate as of such termination date, and MERCK shall, within thirty (30) days after such termination, return or cause to be returned to AVEO all Information in tangible form
and substances or compositions delivered or provided by AVEO, as well as any other material provided by AVEO in any medium. In the event of termination pursuant to this Section 8.3.2(b), MERCK shall, upon AVEO’s request, provide to AVEO
the MERCK Non-MAP Collaboration Target Data Package for each Non-MAP Collaboration Target, and MERCK Discovery Target Data Package for each Discovery Target, and AVEO shall be permitted to use and otherwise exploit the information contained in such
MERCK Non-MAP Collaboration Target Data Package or MERCK Discovery Target Data Package for research and commercialization purposes; provided, however, that MERCK shall retain the right to use Joint Information and Inventions and MERCK
Information and Inventions for all purposes outside the Field, and relating to such Non-MAP Collaboration Target or Discovery Target for Internal Research Purposes in the Field. In the event of termination pursuant to this Section 8.3.2(b),
AVEO and MERCK shall, at AVEO’s request made within [**] days of AVEO’s receipt of any MERCK Discovery Target Data Package pursuant to this Section, negotiate in good faith concerning the license to AVEO of compounds discovered or
developed by MERCK Directed to such Discovery Target that MERCK, in its sole discretion, elects to out-license, upon terms to be negotiated in good faith by the Parties and reflected in a separate agreement. For the avoidance of doubt, MERCK shall
be under no obligation to enter any agreement with AVEO, to provide AVEO with any particular terms in comparison to any other potential licensee, or to give AVEO preference over any other potential licensee. 

  

 -44- 

	 	(c)	Upon termination of this Agreement by MERCK pursuant to Section 8.2, or by AVEO pursuant to Section 8.3.1, MERCK and its Affiliates, sublicensees and
distributors shall be entitled, during the [**] month period immediately following the effective date of termination, to finish any work-in-progress and to sell any Products or Collaboration Compound remaining in inventory, in accordance with the
terms of this Agreement. Except as otherwise provided in the foregoing sentence, upon termination of this Agreement by MERCK pursuant to Section 8.2, or by AVEO pursuant to Section 8.3.1, MERCK and its Affiliates shall not (a) use,
make, have made, offer to sell, sell or import any Collaboration Compound or Product except for Internal Research Purposes, or (b) utilize any Non-MAP Collaboration Target or Potential Collaboration Target except for Internal Research Purposes.

  

	8.4	Effect of Expiration or Termination; Survival 

 Expiration or termination of the Agreement shall not relieve the Parties of any obligation accruing prior to such expiration or termination. Any expiration or termination of this Agreement shall be
without prejudice to the rights of either Party against the other accrued or accruing under this Agreement prior to expiration or termination, including without limitation the obligation to pay royalties for Product(s) or Collaboration Compound(s)
sold prior to such expiration or termination. The provisions of Article 4 shall survive the expiration or termination of the Agreement and shall continue in effect for ten (10) years. In addition, the provisions of Articles 7, 8 and 9, and
Section 5.5, and definitions related thereto, shall survive any expiration or termination of this Agreement. 
  

	9.	MISCELLANEOUS 

  

	9.1	Force Majeure 

 Neither Party shall be held liable to the other Party nor be deemed to have defaulted under or breached the Agreement for failure or delay in performing any obligation under the Agreement when such failure or delay is caused by or results
from causes beyond the reasonable control of the affected Party including, but not limited to, embargoes, war, acts of war (whether war be declared or not), acts of terrorism, insurrections, riots, civil commotions, strikes, lockouts or other labor
disturbances, fire, floods, or other acts of God, or acts, omissions or delays in acting by any governmental authority or the other Party. The affected Party shall notify the other Party of such force majeure circumstances as soon as reasonably
practical, and shall promptly undertake all reasonable efforts necessary to cure such force majeure circumstances. 
  

	9.2	Assignment/Change of Control. 

 (a) Except as provided in this Section 9.2, this Agreement may not be assigned or otherwise transferred, nor may any right or obligation hereunder be assigned or transferred, by either Party without
the consent of the other Party. 
  

 -45- 

 (b) MERCK may, without consent of AVEO, assign this Agreement and its rights and obligations
hereunder in whole or in part to an Affiliate of MERCK or in connection with a Change of Control. 
 (c) AVEO may, without
MERCK’s consent, assign this Agreement and its rights and obligations hereunder to a wholly-owned subsidiary of AVEO or in connection with a Change of Control; provided, however, that in the event of a Major Pharma Change of
Control, AVEO shall provide written notice to MERCK at least [**] days prior to the completion of such Major Pharma Change of Control and MERCK shall have the right, at its election (such election to be made within [**] days after such notice) to
implement some or all of the following revisions to this Agreement: 
  

	 	(i)	to the extent that provisions of the Agreement require MERCK to provide MERCK Know-How and other information regarding the Collaboration to AVEO, such provisions shall
be automatically amended to no longer impose such an obligation on MERCK; 

  

	 	(ii)	the provisions of the Agreement providing for the participation of AVEO in decision-making through the Committee (including but not limited to Section 2.4) shall
be of no further force and effect; and 

  

	 	(iii)	MERCK shall be entitled to terminate the Research Program as provided in Section 2.8.2, provided, however, that such termination shall be deemed to
be a termination of the Research Program pursuant to Section 2.8.4, regardless of when such Research Program termination occurs. 

 (d) Further, upon any assignment or Change of Control by AVEO, MERCK’s obligation to provide royalty reports pursuant to Section 5.4.6 shall be limited to reporting MERCK’s total worldwide
royalty obligations. 
 (e) Any attempted assignment not in accordance with this Section 9.2 shall be void. 
  

	9.3	Severability 

 If
any one or more of the provisions contained in this Agreement is held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or
impaired thereby, unless the absence of the invalidated provision(s) adversely affects the substantive rights of the Parties. The Parties shall in such an instance use their best efforts to replace the invalid, illegal or unenforceable provision(s)
with valid, legal and enforceable provision(s) which, insofar as practical, implement the purposes of this Agreement. 
  

 -46- 

	9.4	Notices 

 All
notices which are required or permitted hereunder shall be in writing and sufficient if delivered personally, sent by facsimile (and promptly confirmed by personal delivery, registered or certified mail or overnight courier), sent by
nationally-recognized overnight courier or sent by registered or certified mail, postage prepaid, return receipt requested, addressed as follows: 
  

			
	if to AVEO, to:	  	 AVEO Pharmaceuticals, Inc.
 75
Sidney Street, Fourth Floor
 Cambridge, MA 02139
 Attention: Chief Business Officer
 Telephone: 617-299-5950
 Facsimile: 617-995-4995

		
	and	  	With a copy to:
		
		  	 Wilmer Cutler Pickering Hale and Dorr LLP
 60 State Street
 Boston, MA 02109
 Attention: Steven D. Singer
 Telephone: 617-526-6410
 Facsimile: 617-526-5000

		
	if to MERCK, to:	  	 Merck & Co., Inc.
 One
Merck Drive
 P.O. Box 100, WS3A-65
 Whitehouse Station, NJ 08889-0100
 Attention: Office of Secretary
 Facsimile No.: (908) 735-1246

		
	and	  	 Merck & Co., Inc.
 One
Merck Drive
 P.O. Box 100, WS2A-30
 Whitehouse Station, NJ 08889-0100
 Attention: Chief Licensing Officer
 Facsimile: (908) 735-1214

 or to such other address as the Party to whom notice is to be given may have furnished to the other
Party in writing in accordance herewith. Any such notice shall be deemed to have been given: (a) when delivered if personally delivered or sent by facsimile on a business day; (b) on the business day after dispatch if sent by
nationally-recognized overnight courier; and/or (c) on the fifth business day following the date of mailing if sent by mail. 
  

	9.5	Applicable Law 

 The Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey and the patent laws of the United States without reference to any rules of conflict of laws or renvoi. The United Nations Convention on
the Sale of Goods shall not apply. 
  

 -47- 

	9.6	Dispute Resolution 

  

	9.6.1 	The Parties shall negotiate in good faith and use reasonable efforts to settle any dispute, controversy or claim arising from or related to this Agreement or the breach
thereof. If the Parties do not fully settle, and a Party wishes to pursue the matter, each such dispute, controversy or claim that is not an “Excluded Claim” shall be finally resolved by binding arbitration in accordance with the
Commercial Arbitration Rules and Supplementary Procedures for Large Complex Disputes of the American Arbitration Association (“AAA”), and judgment on the arbitration award may be entered in any court having jurisdiction thereof.

  

	9.6.2 	The arbitration shall be conducted by a panel of three persons experienced in the pharmaceutical business: within 30 days after initiation of arbitration, each
Party shall select one person to act as arbitrator and the two Party-selected arbitrators shall select a third arbitrator within 30 days of their appointment. If the arbitrators selected by the Parties are unable or fail to agree upon the third
arbitrator, the third arbitrator shall be appointed by the AAA. The place of arbitration shall be New York, New York, and all proceedings and communications shall be in English. 

  

	9.6.3 	Either Party may apply to the arbitrators for interim injunctive relief until the arbitration award is rendered or the controversy is otherwise resolved. Either
Party also may, without waiving any remedy under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that Party pending the arbitration award. The arbitrators
shall have no authority to award punitive or any other type of damages not measured by a Party’s compensatory damages. Each Party shall bear its own costs and expenses and attorneys’ fees and an equal share of the arbitrators’ and any
administrative fees of arbitration. 

  

	9.6.4 	Except to the extent necessary to confirm an award or as may be required by law or regulation, neither a Party nor an arbitrator may disclose the existence,
content, or results of an arbitration without the prior written consent of both Parties. In no event shall an arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim
would be barred by the applicable New York statute of limitations. 

  

	9.6.5 	The parties agree that, in the event of a dispute over the nature or quality of performance under this Agreement, neither party may terminate the Agreement until
final resolution of the dispute through arbitration or other judicial determination. The parties further agree that any payments made pursuant to this Agreement pending resolution of the dispute shall be refunded if an arbitrator or court determines
that such payments are not due. 

  

	9.6.6 	As used in this Section, the term “Excluded Claim” means a dispute, controversy or claim that concerns (a) the validity or infringement of
a patent, trademark or copyright; or (b) any antitrust, anti-monopoly or competition law or regulation, whether or not statutory. 

  

 -48- 

	9.7	Entire Agreement; Amendments 

 The Agreement, together with the Preferred Escrow Agreement dated as of August 27, 2005 by and among MERCK, AVEO and DSI Technology Escrow, Inc., contains the entire understanding of the Parties with
respect to the Research Program and licenses granted hereunder; provided, however, that the Parties acknowledge and agree that the rights and obligations that accrued under the Prior Agreement shall remain in effect pursuant to the
terms and conditions of this Agreement. All express or implied agreements and understandings, either oral or written, with regard to the Research Program and the licenses granted hereunder are superseded by the terms of this Agreement. The Agreement
may be amended, or any term hereof modified, only by a written instrument duly executed by authorized representatives of both Parties hereto. 
  

	9.8	Headings 

 The
captions to the several Articles and Sections hereof are not a part of the Agreement, but are merely for convenience to assist in locating and reading the several Articles and Sections hereof. 
  

	9.9	Independent Contractors 

 It is expressly agreed that AVEO and MERCK shall be independent contractors and that the relationship between AVEO and MERCK shall not constitute a partnership, joint venture or agency. AVEO shall not have the authority to make any
statements, representations or commitments of any kind, or to take any action, which shall be binding on MERCK, without the prior written consent of MERCK, and MERCK shall not have the authority to make any statements, representations or commitments
of any kind, or to take any action, which shall be binding on AVEO, without the prior written consent of AVEO. 
  

	9.10	Waiver 

 The waiver
by either Party hereto of any right hereunder, or the failure of the other Party to perform, or a breach by the other Party, shall not be deemed a waiver of any other right hereunder or of any other breach or failure by such other Party whether of a
similar nature or otherwise. 
  

	9.11	Cumulative Remedies 

 No remedy referred to in this Agreement is intended to be exclusive, but each shall be cumulative and in addition to any other remedy referred to in this Agreement or otherwise available under law. 
  

	9.12	Waiver of Rule of Construction 

 Each Party has had the opportunity to consult with counsel in connection with the review, drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity in this
Agreement shall be construed against the drafting Party shall not apply. 
  

	9.13	Counterparts 

 The
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
  

 -49- 

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first set
forth above. 
  

									
	MERCK & CO., INC.	 		 	AVEO PHARMACEUTICALS, INC.
					
	BY:	 	/s/ Raymond V. Gilmartin	 		 	BY:	 	/s/ Tuan Ha-Ngoc
		 	RAYMOND V. GILMARTIN	 		 		 	
		 	Chairman, President and Chief Executive Officer	 		 	TITLE:	 	CEO
			
	DATE: 4/12/05	 		 	DATE: 4/15/05

  

 -50- 

 SCHEDULE 1.7 
 AVEO PATENT RIGHTS 
 Subpart A 
 [TO BE UPDATED PERIODICALLY BY AVEO] 
 Subpart B 
 [**] 

 SCHEDULE 1.71 
 PILOT EXPERIMENTS 
 [**].  
 The results of these experiments will be jointly evaluated and a determination will be made on whether there is an interest in proceeding. Performing any
subsequent experiments will be subject to the negotiation of an additional agreement between AVEO and Merck. 
 Information sharing: all data
from the Pilot Experiments will be shared between AVEO and Merck. 
  

 - 2 - 

 SCHEDULE 1.84 
 TARGET PACKAGE 
 [**]. 
  

 - 3 - 

 SCHEDULE 2.1 
 RESEARCH PLAN 
 OVERVIEW OF TARGET FLOW 

 IDENTIFICATION OF POTENTIAL COLLABORATION TARGETS 
  

	 	•	 	 [**]. 

 MERCK
DESIGNATION OF NOMINATED TARGETS 
  

	 	•	 	 [**]. 

 DEVELOPMENT OF
TARGET PACKAGE PLAN 
  

	 	•	 	 [**]. 

  

 - 4 - 

 DETAILED PLAN 
 MODEL GENERATION 
 [**]. 
 The models included in the Collaboration are: 
  

	 	1.	[**]. 

  

	 	2.	[**] 

  

	 	3.	[**] 

  

	 	4.	Additional models as provided further in the Agreement. 

 Methods for model generation. [**]. 
 Timelines for generation of the Collaboration Models. [**]. 

 CELL LINE GENERATION 
 [**].

 Timelines for cell line generation. The current timelines for obtaining inducible cell lines from the Collaboration Models are/were as
follows: 
 [**]. 
 GENETIC SCREENS

 [**]. 
 Timelines for genetic
screens. The current timelines for obtaining recurrent MaSS Screen candidates from the models are/were as follows: 
 [**]. 
 BIOINFORMATICS TRIAGE/MOLECULAR PROFILING 
 [**]. 
  

 - 5 - 

 IN VITRO VALIDATION 
 [**]. 
 Timelines for in
vitro validation. [**]. 
 IN VIVO VALIDATION 
 [**]. 
 SUPPORT FOR COMPOUND OPTIMIZATION 

 [**]. 
 Timelines for compound
optimization. [**]. 
  

 - 6 - 

 SCHEDULE 4.4(c) 
 PRESS RELEASE 
  

			
	 FOR IMMEDIATE RELEASE
  
  
 November XX, 2003
	 	 For Information Contact:
  
 Tuan Ha-Ngoc
  
 617-250-5969
  
 thangoc@genpathpharma.com

 GENPATH PHARMACEUTICALS AND MERCK ENTER INTO POTENTIAL $100 
 MILLION DEAL FOR THE DISCOVERY OF NOVEL CANCER DRUGS 
 CAMBRIDGE, MA October XX, 2003 – GenPath Pharmaceuticals, Inc., a drug discovery and development company focused on the treatment of cancer and other diseases, announced today that it has entered
into a multi-year collaborative agreement with Merck & Co., Inc. (NYSE: MRK). Under the agreement, GenPath will use its proprietary cancer models to identify essential tumor maintenance genes which maybe suitable targets for the development
of small molecule oncology agents. GenPath will also use its inducible, spontaneous tumor models to guide candidate drug selection and optimization. 
 Under the agreement, Merck will have an exclusive option to obtain exclusive worldwide license rights to a specified number of small molecule targets discovered and validated in a selected group of GenPath models. GenPath’s models will
also be used in downstream drug discovery and optimization activities to guide the selection of the appropriate candidates to move into development. Merck will be responsible for drug discovery, clinical development and commercialization of the
resulting products. 
 Under the terms of the agreement, GenPath will receive a significant upfront payment plus annual research funding, as
well as potential milestones and royalties from Merck. Total payments to GenPath by Merck based on the successful commercialization of multiple products resulting from the collaboration, exclusive of royalties, could exceed $100 million. 

“Despite recent technological advances, there remains a huge unmet medical need in the treatment of most types of cancer. Merck has made a strategic
commitment to address the challenges of developing novel and efficacious therapies in cancer. . Our partnership with GenPath, is a very important element of our cancer research strategy. ,” said Stephen Friend, M.D., Ph.D., senior vice
president, Molecular Profiling and Cancer Research at Merck. 
  

 - 7 - 

 “We are thrilled to be partnering with Merck for the discovery of novel cancer targets,” said Tuan
Ha-Ngoc, president and CEO of GenPath. “Merck has made an important commitment to the field of cancer research, and shares a common vision with GenPath. This deal is not just about discovering the right targets, but also about utilizing our
unique technology to ensure that the most appropriate compounds move into development, and are tested in the appropriate patients. Coming on the heels of our recent $42.7M Series B financing, this partnership indicates the excitement that our
technology has generated in both the industry and investment communities,” said Ha-Ngoc. 
 About GenPath 
 GenPath employs powerful, proprietary genetic model systems to discover and develop drugs against essential targets critical to the origin, maintenance, and
spread of malignant tumors. This novel, high-throughput in-vivo pathway technology platform enables the rapid functional prioritization of only the most relevant drug targets, thus dramatically improving the efficiency of drug discovery. In
addition, when coupled with high-throughput genomics and bioinformatics, this platform is designed to enhance drug development through the identification of novel biomarkers for both exposure and efficacy endpoints to guide clinical development.
Beyond oncology, GenPath’s technologies are broadly applicable to other disease states, including cardiovascular, metabolic and neurodegenerative disorders. 
 GenPath is a privately held company located in Cambridge, MA. For more information, please visit the company’s website at www.genpathpharma.com. 
  

 - 8 -

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