Document:

Intellectual Property Purchase and Business Cooperation Agreement

 EXHIBIT 10.3 
 CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT OF 1933. 
 INTELLECTUAL PROPERTY PURCHASE AND BUSINESS COOPERATION 
 AGREEMENT

 This INTELLECTUAL PROPERTY PURCHASE AND BUSINESS COOPERATION AGREEMENT (this “Agreement”),
dated as of December     , 2010, is entered into by and between Unidym, Inc., a Delaware corporation having a principal place of business at 1244 Reamwood Avenue, Sunnyvale, California 94089, USA
(“Unidym”), and Samsung Electronics Co., Ltd., a company organized under the laws of the Republic of Korea and having a principal place of business at 416 Maetan 3-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do, 443-742, the Republic of
Korea (“Samsung”). Unidym and Samsung may be referred to herein, individually, as a “Party” or, collectively, as the “Parties.” 

WHEREAS, Unidym is engaged in the research, development, marketing and sale of certain carbon nanotube and graphene based products
and technologies; 
 WHEREAS, Samsung desires to purchase certain present and future Patent Rights from Unidym relating
to Unidym’s carbon nanotube and graphene based technologies; Unidym desires to sell such Patent Rights to Samsung on and subject to the terms and conditions set forth herein; and the Parties further desire to cooperate in further development
and commercialization of Unidym’s carbon nanotube and graphene based technologies on and subject to the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, and, for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the Parties, intending to be legally bound, agree as follows: 
  

	1.	DEFINITIONS 

 1.1
Definitions. 
 “Affiliate” shall mean any entity directly or indirectly controlled by, controlling or
under common control with, a Party to this Agreement. For purposes of this definition, “control” (including, with correlative meanings, “controlled by,” “controlling” and “under common control with”) means
(a) possession, direct or indirect, of the power to direct or cause direction of the management or policies of an entity (whether through ownership of securities or other ownership interests, by contract or otherwise), or (b) beneficial
ownership of *** percent (***%) or more of the voting securities or other ownership interest (whether directly or pursuant to any option, warrant or other similar arrangement) or other comparable equity interests of an entity. 

 “Business Day” shall mean a day other than a Saturday, Sunday, or bank or
other public holiday in the State of California, USA or Seoul, Republic of Korea. 
 “Claim” shall mean any
claim, action, lawsuit or other proceeding. 
 “CNT Production Patent License Agreement” shall mean the
agreement of even date herewith entered into by and between Unidym and Samsung relating to sole license of Unidym CNT Production Patents. 
 “Confidential Information” shall have the meaning set forth in Section 9.1. 
 “Contract” shall mean any contract, license, sublicense, purchase, sale, permit, loan, security, pledge, instrument and any other arrangement or any commitment to enter into any of the
foregoing (in each case, whether written or oral). 
 “Control” shall mean, with respect to any intellectual
property rights, ownership or possession of the legal authority or right of a Party hereto (or any of its Affiliates) to grant a license or sublicense of any such intellectual property right to the other Party or to otherwise disclose proprietary or
trade secret information to the other Party, without breaching the terms of any Contract with a Third Party or infringing or misappropriating the intellectual property rights of a Third Party. 

“Effective Date” shall have the meaning set forth in Section 2.1. 

“Existing Unidym Outbound License Agreements” shall mean the contracts executed before the Effective Date and listed on
Exhibit B, pursuant to which Third Parties have and continue to maintain in the future licenses to both Unidym In-Licensed Patents and patents owned by Unidym prior to this Transaction. 

“Existing Unidym Patent License Agreements” shall mean the license agreements between Unidym and Third Parties executed
prior to the Effective Date, pursuant to which Unidym licensed only Unidym Patents to Third Parties, listed on Exhibit C. 
 “Intellectual Property Purchase and Business Cooperation Agreement Disclosure Schedules” shall mean the disclosure schedules attached hereto as Exhibit F. 

“License and Enforcement Agreement” shall mean the agreement of even date herewith entered into by and between Unidym
and Samsung relating to license and enforcement of Unidym In-Licensed Patents. 
 “Licensed Products”
shall mean any products, processes or services covered by the Unidym Patents or Unidym *** Patent Rights, as applicable. 
 “Liens” shall mean, with respect to any property or asset, any mortgage, pledge, security interest, encumbrance, claim, lien, or charge of any kind in respect of such property or asset
(including, without limitation, any conditional sale or option), any sale of receivables with recourse against such seller, or any agreement to file any of the foregoing. 

  
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 “Losses” shall have the meaning set forth in Section 8.1.

 “Patent Rights” shall mean all patents, patent applications, patent disclosures and equivalents thereof,
whether domestic or foreign, including all continuations, continuations-in-part, divisionals, provisionals and renewals, and letters patent granted with respect to any of the foregoing, and all reissues, re-examinations and extensions thereof.

 “Subsidiary” shall mean, with respect to any specified Party, any entity of which securities or other
interests having the power to elect a majority of that entity’s board of directors or similar governing body, or otherwise having the power to direct the business and policies of that entity (other than securities or other interests having such
power only upon the happening of a contingency that has not occurred) are held by such specified Party or one or more Subsidiaries of such specified Party. 
 “Third Party” shall mean any person or entity other than one of the Parties or an Affiliate of a Party. 
 “Transaction Documents” shall mean, collectively, this Agreement, the License and Enforcement Agreement and the CNT Production Patent License Agreement. 

“Unidym CNT Production Patents” shall mean the patent(s) and patent application(s) owned by Unidym or its Subsidiaries
as of the Effective Date and listed on Exhibit A of CNT Production Patent License Agreement. 
 “Unidym ***
Patent Rights” shall mean ***. 
 “Unidym Inbound Agreements” shall mean the Contracts listed on
Exhibit B of the License and Enforcement Agreement pursuant to which Unidym in-licenses the Unidym In-Licensed Patents from the Unidym In-Licensors. 
 “Unidym In-Licensor” means any entity that has granted license to Unidym for the Unidym In-Licensed Patents. 

“Unidym In-Licensor Consents” shall mean the three-party letter agreements between Unidym, Samsung and the licensors
under the Unidym Inbound Agreements, together with corresponding amendments required by Samsung and specific to each such Unidym Inbound Agreement, in the form agreed to by Samsung, Unidym and the applicable licensor and attached to the License and
Enforcement Agreement as Exhibits C through I. 
 “Unidym In-Licensed Patents” shall mean any and
all Patent Rights licensed to Unidym by the Unidym In-Licensors pursuant to the Unidym Inbound Agreements, including the Patent Rights listed on Exhibit A of the License and Enforcement Agreement and further including any patents that may
issue from, or claim priority to or through, the applications included in such Patent Rights. 
 “Unidym
Patents” shall mean all Patent Rights existing anywhere in the world owned by Unidym or its Subsidiaries as of the Effective Date, including all the Patent Rights listed on Exhibit A, and further including any patents that may issue
from, or claim priority to or through, the applications included in such Patent Rights, except for the Unidym CNT Production Patents which will be retained by Unidym. 

  
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 1.2 Other Definitional and Interpretative Provisions. The words “hereof,”
“herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The captions herein are included for convenience of
reference only and shall be ignored in the construction or interpretation hereof. References to Sections, Exhibits and Schedules are to Sections, Exhibits and Schedules of this Agreement unless otherwise specified. All Exhibits and Schedules annexed
hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit or Schedule but not otherwise defined therein, shall have the meaning as defined in
this Agreement. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation,” whether or not they are in fact
followed by those words or words of like import. When the words “not to be unreasonably withheld” are used in this Agreement, they shall be deemed to be followed by the phrase “, conditioned or delayed,” whether or not they are
in fact followed by that phrase or a phrase of like import. References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof. References
to any Third Party include the successors and permitted assigns of that Third Party. References from or through any date mean, unless otherwise specified, from and including or through and including, respectively. References to “law” or
“laws” shall be deemed to include any and all applicable laws. 
  

	2.	EFFECTIVENESS OF AGREEMENT 

2.1 This Agreement shall come into effect upon receipt by Samsung of all deliverables set forth in Section 2.3 below, provided
that the conditions set forth in Section 2.2 have also been met (the date of satisfaction of all such conditions and receipt of all such deliverables being the “Effective Date”). 

2.2 The effectiveness of this Agreement shall be subject to each of the following conditions: 

(a) Accuracy of Representations and Warranties. The representations and warranties of Unidym set forth in
Section 7.1 and of Samsung set forth in Section 7.2 shall be true and correct in all material respects as of the Effective Date. 
 (b) Litigation. As of the Effective Date, no action, suit, litigation, proceeding or investigation shall have been instituted, be pending or threatened against Unidym or its Affiliates challenging
or seeking to make illegal, to delay or otherwise directly or indirectly to restrain or prohibit the consummation of the transactions contemplated by this Agreement and the other Transaction Documents, or seeking to obtain damages in connection with
the transactions contemplated by this Agreement or the other Transaction Documents. 

  
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 (c) No Loss or Destruction. As of the Effective Date, no material
loss, damage, destruction, rejection or expiration shall have occurred to the Unidym Patents, regardless of whether covered by insurance. 
 (d) Transaction Documents. Each of the Transaction Documents shall be executed simultaneously with this Agreement as of the Effective Date. 

2.3 The effectiveness of this Agreement shall be subject to Unidym having delivered to Samsung the following on the Effective Date:

 (a) a certificate signed on behalf of Unidym by its Chief Executive Officer, dated the Effective Date,
certifying that the conditions specified in Sections 2.2(a) through (d) have been satisfied in all respects; 
 (b) a certificate signed on behalf of Unidym by its Chief Executive Officer, dated the Effective Date, certifying that all the documents required under Section 3.2 will have been delivered to
Samsung by the indicated time period and the list of such documents; 
 (c) a duly-executed Patent Assignment
Agreement for the assignment of the Unidym Patents in the form attached hereto as Exhibit D (the “Patent Assignment Agreement”); 
 (d) a certificate signed by the corporate secretary of Unidym, dated the Effective Date, attaching the resolutions and consents of the board of directors of Unidym and, to the extent required, each of its
Affiliates authorizing the execution and delivery of, and the consummation of the transactions contemplated by, this Agreement and the other Transaction Documents; 

(e) all Unidym In-Licensor Consents, duly executed and delivered by all parties thereto (other than Samsung); 

(f) a duly-executed consent from ***; and 

(g) a duly-executed letter from ***. 
  

	3.	ASSIGNMENT OF UNIDYM PATENTS 

 3.1 Assignment of Unidym Patents. On the Effective Date, Unidym shall sell, convey, assign, transfer and deliver to Samsung the entire right, title and interest of Unidym and each of its
Subsidiaries in, to and under the Unidym Patents, together with all income, royalties, damages and payments due or payable as of the Effective Date and thereafter, and all of Unidym’s and its Subsidiaries’ causes of action, lawsuits,
judgments and other claims or demands of any nature with respect to the Unidym Patents, including the right to sue and recover for past, present and future infringement thereof. For the avoidance of doubt, Unidym shall retain certain rights to the
Unidym Patents only necessary for the purpose of not breaching its obligations under the Existing Unidym Outbound License Agreements and/or Existing Unidym Patent License Agreements, and Samsung shall be entitled to (a) one hundred percent
(100%) of 

  
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all income, royalties and payments due to Unidym under the Existing Unidym Patent License Agreements and, (b) to other income, royalties and payments due to Unidym under the Existing Unidym
Outbound License Agreements, as agreed between the Parties pursuant to the License and Enforcement Agreement. 
 3.2 Delivery
of Certificates and Records. Unidym shall, within one (1) week from the Effective Date, deliver to Samsung (a) all letters patent and all other registrations and certificates for the Unidym Patents; (b) all records whether
tangible or intangible relating to the conception and/or reduction to practice of any inventions included or claimed in the Unidym Patents; (c) all files, records and documentation pertaining to the enforcement of the Unidym Patents, including
any correspondence, memoranda, non-infringement/validity opinion letters, or other documentation pertaining to any infringement, validity or enforceability issues as they relate to the Unidym Patents; and (d) a complete copy of the prosecution
file for each patent and pending patent application in the Unidym Patents, including: (i) all documents received from, or sent to, the patent office in which such patent issued or such patent application is pending, (ii) all correspondence
between Unidym and the patent attorney(s) or agent(s) handling the prosecution of such patent or pending patent application, and (iii) all documents and materials supplied to such attorney(s) or agent(s) to assist with such prosecution. Unidym
shall deliver on the Effective Date a list of the foregoing documents. 
 3.3 No Liabilities Assumed. The Unidym Patents
shall be assigned, transferred, conveyed and delivered to Samsung free and clear of any and all Liens. Except as expressly set forth herein and in Schedule 3.3, Samsung does not assume, and shall not be deemed to have assumed, any Contract,
liability, debt or obligation relating to the Unidym Patents. 
 3.4 Cooperation for Patent Registration. Unidym shall
provide any necessary and prompt support to Samsung, at Samsung’s request, for the valid transfer of the Unidym Patents including, without limitation, Samsung’s registration for the assignment of the Unidym Patents around the world.

 3.5 Grant-back License under Unidym Patents. Upon execution of this Agreement and effective as of the Effective Date,
Samsung hereby grants to Unidym only, and Unidym hereby accepts from Samsung, a nontransferable, non-assignable, non-sublicensable, non-exclusive, *** license under the Unidym Patents to research, develop, make, have made, import, have imported,
use, have used, sell, have sold, offer for sale, have offered for sale and otherwise exploit any products or processes covered by the Unidym Patents. 
 3.6 Unidym Customers. Samsung agrees not to enforce Unidym Patents against any Third Party that purchases Licensed Products from Unidym, provided: (a) ***; (b) ***; and (c) ***. For
the avoidance of doubt, Samsung retains its rights to enforce against any Third Party for ***. 
  

	4.	BUSINESS COOPERATION 

 4.1
Continued Development and Commercialization. Unidym and its Subsidiaries will continue to use their best efforts to develop new technologies supporting commercialization of transparent, conductive films based on carbon nanotube and graphene
technologies (“CNT Products”). 

  
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 (a) Preferred Supplier. Subject to: (1) ***; (2) ***;
(3) ***; and (4) ***, Samsung will, in its sole discretion, consider purchasing *** CNT Products from Unidym ***. 
 (b) Pre-paid Purchase of CNT Products. Within twelve (12) months of the Effective Date, upon submission of a purchase order by Samsung, at Samsung’s request and in its sole discretion,
Unidym shall deliver to Samsung *** liters of CNT Ink. *** shall serve as pre-payment for the CNT Ink. The title to and the risk of loss and/or damage for the CNT Inks purchased by Samsung shall be passed from Unidym to Samsung upon completion of
the delivery thereof. For the avoidance of doubt, with respect to the above paragraphs (a) and (b) of this Section 4.1, Unidym acknowledges and agrees that Samsung has no legal obligations to perform any activities described
therein. 
 (c) Assignment of Unidym *** Patent Rights. For *** years from the Effective Date (the
“Transfer Period”), if Unidym or its Subsidiaries files Unidym *** Patent Rights, Unidym or its Subsidiaries, as the case may be, hereby shall fully transfer and assign to Samsung all its worldwide rights, title and interest in and
to all Unidym Improvement Patent Rights. Unidym or its Subsidiaries shall reasonably assist and cooperate with Samsung, at the expense of Samsung, to enable Samsung to acquire, maintain, and perfect its ownership rights in and to the Unidym ***
Patent Rights. 
 (d) Grant-back License. Subsequent to the assignment of the Unidym *** Patent Rights to
Samsung under Section 4.2(a), Samsung shall grant to Unidym a nontransferable, non-assignable, non-sublicensable, non-exclusive, *** license under the Unidym *** Patent Rights to research, develop, make, have made, import, have imported,
use, have used, sell, have sold, offer for sale, have offered for sale and otherwise exploit any products or processes covered by the Unidym *** Patent Rights. 
 4.2 Unidym Customers. Samsung agrees not to enforce Unidym *** Patent Rights against any Third Party that purchases Licensed Products from Unidym, provided: (a) ***; (b) ***; and
(c) ***. For the avoidance of doubt, Samsung retains its rights to enforce against any Third Party ***. 
 4.3 License
of Unidym *** Patent Rights. After the Transfer Period, Unidym shall grant to Samsung a non-exclusive, fully paid up, royalty-free, worldwide license under the Unidym *** Patent Rights to research, develop, make, have made, import, have
imported, use, have used, sell, have sold, offer for sale, have offered for sale and otherwise exploit any products or processes covered by the Unidym *** Patent Rights for the next *** years. 

 

	5.	PAYMENTS 

 5.1 Subject to
satisfaction of conditions in Section 2 and Sections 3.1, 3.2 and 3.4, Samsung shall pay to Unidym according to the following schedule: 

(a)*** US Dollars (US$ ***) within thirty (30) Business Days from the Effective Date; and 

  
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 (b)*** US Dollars (US$ ***) within three (3) months after the
completion of Samsung’s registration for the assignment of the Unidym Patents pursuant to Section 3.4. 
 5.2
Unidym shall send Samsung an invoice for any payment to be made by Samsung to Unidym under this Agreement sufficiently early for Samsung to receive such invoice no later than thirty (30) Business Days before the due date specified for such
payment herein. Each invoice shall clearly reference this Agreement and indicate the invoiced amount and what such amount relates to. 
 5.3 The payment hereunder by Samsung to Unidym shall be made by electronic transfer in immediately available funds via either a bank wire transfer or any other means of electronic funds transfer, at
Samsung’s election, to such bank account as Unidym may designate in a written notice at least thirty (30) Business Days before the payment is due. 
  

	6.	TAX 

 6.1 Each Party shall
be solely responsible for paying any and all taxes, levies, imposts, duties or fees (collectively, “Taxes”) imposed by the United States in the case of Unidym and by the Republic of Korea in the case of Samsung in connection with
the transactions contemplated by this Agreement or any of the other Transaction Documents and the performance of such Party’s obligations under this Agreement or any of the other Transaction Documents. 

6.2 With respect to withholding Taxes, Samsung shall, if applicable, pay the amount of applicable withholding Tax imposed by the Republic
of Korea on any payments to Unidym under this Agreement, transmit such amount of withholding Tax to the appropriate authority, and promptly deliver to Unidym applicable certification or other evidence of such withholding Tax payments. Such withheld
amount shall be treated for all purposes of this Agreement as having been paid to Unidym. 
  

	7.	REPRESENTATIONS AND WARRANTIES 

 7.1 Representations and Warranties of Unidym. As of the Effective Date, Unidym hereby represents and warrants to Samsung, as a material inducement for Samsung’s entry into this Agreement, as
follows: 
 (a) Organization. Unidym is a corporation validly existing and in good standing under the laws
of its jurisdiction of incorporation or formation. 
 (b) Authority. Unidym’s execution, delivery and
performance of this Agreement and the other Transaction Documents and the consummation of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of Unidym and do not and shall not violate any
provisions of its organizational documents. This Agreement constitutes the valid and binding agreement and obligation of Unidym, enforceable against Unidym in accordance with its terms, subject to applicable bankruptcy, reorganization, insolvency,
moratorium and other laws affecting creditors’ rights generally from time to time in effect, and to general equitable principles. 

  
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 (c) No Conflict or Violations. The execution and delivery of this
Agreement and the Transaction Documents, the consummation of the transactions contemplated hereby and thereby, including the performance of, fulfillment of and compliance with the terms and conditions hereof and thereof by Unidym does not and shall
not: (i) violate any statute, law, rule, regulation, order, writ, injunction or decree of any court or governmental authority, including any applicable import, export and re-export laws and regulations; (ii) violate or conflict with or
constitute a default under any Contract to which Unidym is a party as of the Effective Date; and (iii) result in the creation or imposition of any Lien upon any of the Unidym Patents. 

(d) Governmental Consents. No consent, approval or authorization of, or designation, declaration or filing with,
any governmental authority on the part of Unidym or any of its Affiliates is required in connection with the execution and delivery of this Agreement and the other Transaction Documents, or the consummation by Unidym and its Subsidiaries of the
transactions contemplated hereby or thereby. 
 (e) No Broker. To the extent Unidym or any of its
Affiliates has engaged any corporation, firm or other Third Party who is entitled to any fee or commission as a finder or a broker in connection with the negotiation of this Agreement or the other Transaction Documents or the consummation of the
transactions contemplated hereby and thereby, Unidym shall be responsible for any such fee or commission 
 (f)
Unidym Patents. 
  

	 	(i)	Except as disclosed in Schedule 7.1(f)(i), Unidym or its Affiliates are the sole and exclusive owner, free and clear of any and all Liens, of all right, title
and interest in and to the Unidym Patents. 

  

	 	(ii)	Except as disclosed in Schedule 7.1(f)(i), Unidym or its Affiliates have not granted to any Third Party any ownership, license or other rights in any of the
Unidym Patents. 

  

	 	(iii)	 The Unidym Patents are valid and enforceable or, in the case of patent applications included therein, are the subject of valid and pending
applications for letters patent. Unidym has taken all reasonable and necessary actions to maintain and protect the Unidym Patents, including the payment of all maintenance and other fees when due and the recording of all statutorily required filings
regarding its interests therein. Except as set forth in Schedule 7.1(f)(i), as of the Effective Date and for a period of six (6) months thereafter, no maintenance fees, responses to office actions or other responses or fees shall be due
with respect to any of the Unidym Patents. For the 

  
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avoidance of doubt, Unidym shall be responsible for any and all maintenance fees for which Unidym has received a notice or invoice from relevant patent authorities before the Effective
Date. 

  

	 	(iv)	There are no claims, actions, suits, proceedings, investigations or inquiries before any court, arbitrator or governmental or regulatory official or office pending,
or, to Unidym’s knowledge, threatened involving the Unidym Patents, including any of the foregoing challenging the ownership, validity or enforceability of any of the Unidym Patents. No Unidym Patent is subject to any judgment, order or decree
entered in any lawsuit or proceeding that would prohibit the transfer and assignment of such Unidym Patent to Samsung under this Agreement. 

  

	 	(v)	All listed inventors in the Unidym Patents are the sole inventors of such Unidym Patents, including as the term “inventor” is defined and interpreted under
United States patent law or patent laws of any other relevant jurisdiction. 

  

	 	(vi)	Except as disclosed in Schedule 7.1(f)(ii), Unidym’s use or practice of the Unidym Patents has not and does not infringe, misappropriate, dilute or
otherwise conflict with the Intellectual Property Rights of any Third Party. 

  

	 	(vii)	Except as disclosed in Schedule 7.1(f)(iii), to Unidym’s knowledge, no third party has infringed, misappropriated, diluted or otherwise conflicted with,
or is infringing, misappropriating, diluting or otherwise conflicting with, any of the Unidym Patents. 

  

	 	(viii)	Under the Technology License Agreement that Unidym entered into with *** on ***, *** does not have a right to sublicense under the applicable Unidym Patents to any
Third Party except ***’s Subsidiaries and to any Third Party solely for the purpose of having the Third Party make products or provide services for *** or *** Subsidiaries. 

 

	 	(ix)	There is no contractual obligation for Unidym, Nanoconduction, or any Unidym or Nanoconduction inventors of the Unidym Patents co-owned by *** and Unidym to obtain
consent from *** to transfer its partial ownership interest in the Unidym Patents co-owned by *** and Unidym to Samsung. 

  
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 7.2 Representations and Warranties of Samsung. As of the Effective Date, Samsung
hereby represents and warrants to Unidym, as a material inducement for Unidym’s entry into this Agreement, as follows: 
 (a) Organization. Samsung is a corporation validly existing and in good standing under the laws of its jurisdiction of incorporation or formation. 

(b) Authority. Samsung’s execution, delivery and performance of this Agreement and the consummation of the
transactions contemplated hereby have been duly authorized by all necessary action on the part of Samsung and do not and shall not violate any provisions of its organizational documents. This Agreement constitutes the valid and binding agreement and
obligation of Samsung, enforceable against Samsung in accordance with its terms, subject to applicable bankruptcy, reorganization, insolvency, moratorium and other laws affecting creditors’ rights generally from time to time in effect, and to
general equitable principles. 
  

	8.	INDEMNIFICATION 

 8.1
Indemnification by Unidym. Unidym shall indemnify, defend and hold harmless Samsung and its Affiliates, and their directors, officers, employees, customers and agents (collectively, “Samsung Indemnitees”), from and against
any and all liabilities, losses, costs, damages, fees or expenses (including reasonable legal expenses and attorneys’ fees) (collectively, “Losses”) arising out of or resulting from (a) the misrepresentation or breach of
any representation, warranty or covenant of Unidym under this Agreement; and (b) any liability, debt or obligation arising prior to the Effective Date and directly attributable to the Unidym Patents; provided that (A) Unidym is notified
promptly in writing by the Samsung Indemnitees of any Claim for which the Samsung Indemnitees are entitled to indemnification under this Section 8.1; (B) Unidym has the sole right to control and defend any litigation or settlement
within the scope of this indemnity; and (C) all Samsung Indemnitees cooperate to the extent reasonably necessary in the defense of any such Claim at Unidym’s reasonable expense. 

8.2 Indemnification by Samsung. Samsung shall indemnify, defend and hold harmless Unidym and its Subsidiaries, and their
directors, officers, employees, customers and agents (collectively, “Unidym Indemnitees”), from and against any and all Losses arising out of or resulting from the misrepresentation or breach of any representation or warranty of
Samsung under this Agreement, provided that (i) Samsung is notified promptly in writing by the Unidym Indemnitees of any Claim for which the Unidym Indemnitees are entitled to indemnification under this Section 8.2,
(ii) Samsung has the sole right to control and defend any litigation or settlement within the scope of this indemnity, and (iii) all Unidym Indemnitees cooperate to the extent reasonably necessary in the defense of any such Claim at
Samsung’s reasonable expense. 
 8.3 Limitation of Liability. EXCEPT TO THE EXTENT OF ANY SUCH DAMAGES PAID TO A
THIRD PARTY IN CONNECTION WITH A THIRD PARTY CLAIM UNDER SECTION 8.1 OR 8.2, AS APPLICABLE, OR IN CONNECTION WITH A BREACH OF SECTION 9, (A) IN NO EVENT SHALL EITHER PARTY OR ITS AFFILIATES BE LIABLE UNDER THIS AGREEMENT
FOR ANY SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, WHETHER IN CONTRACT, 

  
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WARRANTY, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, INCLUDING LOSS OF PROFITS OR REVENUE, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, and (B) EACH
PARTY’S TOTAL CUMULATIVE LIABILITY ARISING FROM OR RELATING TO THIS AGREEMENT SHALL NOT EXCEED (1) $ *** FOR EITHER PARTY UNTIL THERE IS A CHANGE OF CONTROL IN UNIDYM; AND (2) $ *** FOR ANY SUCCESSOR OR ASSIGN OF EITHER PARTY FROM THE
OCCURRENCE OF UNIDYM’S CHANGE OF CONTROL TO THE EXPIRATION OF THE LAST OF THE UNIDYM PATENTS. 
 For the purpose of this
provision, the term “Change of Control” shall mean (i) the direct or indirect sale or exchange by the stockholders of Unidym of all or substantially all of the stocks of Unidym or (ii) a merger or consolidation in which Unidym is
a party. The foregoing limitation on liability shall not apply to Samsung’s obligation to pay the amounts specified in Section 5.1. 
  

	9.	CONFIDENTIAL INFORMATION 

9.1 Confidential Information; Exceptions. Except as provided herein, each Party shall maintain in confidence, and shall not use for
any purpose or disclose to any Third Party, information disclosed by the other Party in writing and marked “Confidential” or in a similar manner to indicate its confidential nature or that is disclosed orally and confirmed in writing as
confidential within thirty (30) Business Days following such disclosure (collectively, “Confidential Information”). Confidential Information shall not include any information that is: (a) already known to the receiving
Party at the time of disclosure hereunder, or (b) now or hereafter becomes publicly known other than through acts or omissions of the receiving Party in breach of this Agreement, or (c) disclosed to the receiving Party by a Third Party
under no obligation of confidentiality to the disclosing Party, or (d) independently developed by the receiving Party without use of reliance on the Confidential Information of the disclosing Party. 

9.2 Authorized Disclosure. Notwithstanding the provisions of Section 9.1 above, the receiving Party may use and
disclose Confidential Information of the disclosing Party as follows: (a) under appropriate confidentiality provisions substantially equivalent to those in this Agreement (i) in connection with the performance of its obligations or as
reasonably necessary or useful in the exercise of its rights under this Agreement, (ii) to its Affiliates, (iii) to advisors (including lawyers, accountants and auditors); (b) to a government entity as is reasonably necessary to
comply with applicable law, governmental regulations or court order, provided that, the receiving Party, to the extent it may legally do so, shall give reasonable advance notice to the disclosing Party of the disclosure and shall cooperate with the
disclosing Party to secure confidential treatment of Confidential Information prior to its disclosure (whether through a protective order or otherwise); or (c) to the extent mutually agreed to by the Parties. 

9.3 Confidentiality of Agreement. Each Party agrees that the existence and general nature of this Agreement (subject only to
Section 9.4), and the terms and conditions this Agreement shall be treated as confidential, provided, however, that each Party may disclose the foregoing: (a) as required by any court or other governmental body; (b) as
otherwise required by law; (c) to such Party’s advisors (including lawyers, accountants and auditors); (d) subject to Section 9.5, in connection with the requirements of a public offering or securities filing or in

  
 12 

 
filings with national stock exchanges; (e) in confidence, to banks and sources of finance and their advisors; (f) in confidence, to such Party’s Affiliates; (g) in confidence,
in connection with the performance of such Party’s obligations, or as reasonably necessary or useful in the exercise of such Party’s rights under this Agreement; (h) in confidence, in connection with the enforcement of this Agreement
or of such Party’s rights under this Agreement; or (i) in confidence, in connection with a spin out, sale of stock, sale of assets, a merger or otherwise. 
 9.4 Press Releases; Use of Names. The Parties shall agree upon a press release to announce the execution of this Agreement in the form attached hereto as Exhibit E for use in responding to
inquiries about the Agreement; thereafter, each Party may disclose to Third Parties solely the information contained in such press release without the need for further approval by the other Party. Subject to the other provisions of this
Section 9, each Party may issue additional press releases solely with the prior written consent of the other Party (such consent not to be unreasonably withheld) or as required to comply with any law or by the rules of any stock
exchange. Except in press releases permitted pursuant to this Section 9.4, neither Party shall use the name of the other Party in connection with this Agreement or its activities hereunder. 

9.5 Filing, Registration or Notification of the Agreement. To the extent, if any, that a Party concludes in good faith that it is
required by applicable law to file or register this Agreement or a notification thereof with any governmental authority, including the U.S. Securities and Exchange Commission and any foreign equivalent, such Party may do so, and the other Party
shall cooperate in such filing or notification and shall execute all documents reasonably required in connection therewith; provided, however, that such Party shall give reasonable advance notice to the other Party of such filing or notification and
shall cooperate with the other Party to secure confidential treatment of any sensitive term or condition identified by the other Party prior to its filing or notification. Without limiting any of the foregoing, the filing Party shall request
confidential treatment of sensitive provisions of the Agreement to the extent permitted by applicable laws and, as reasonably practicable, shall permit the other Party to review and approve the redacted copy of the Agreement prior to any such
filing, registration or notification being made. The Parties shall promptly inform each other as to the activities or inquiries of any such governmental authority relating to this Agreement and shall cooperate to respond to any request for further
information therefrom. 
  

	10.	TERM AND TERMINATION 

10.1 Term. This Agreement shall become effective on the Effective Date and shall continue thereafter until the last of the Unidym
Patents hereunder expires. 
 10.2 Termination. This Agreement shall only be terminated as follows: 

(a) Unidym may terminate this Agreement solely in the event of Samsung’s failure to make the payment owed to Unidym
under Section 5.1 by the date specified therein and Samsung has not remedied such failure to pay within thirty (30) Business Days of Samsung’s receipt of Unidym’s written notice of such failure. 

  
 13 

 (b) Samsung may terminate this Agreement upon written notice in the event of
Unidym’s material breach of this Agreement, which remains uncured thirty (30) Business Days after Samsung’s written notice to Unidym specifying such breach. 
 10.3 Liabilities Upon Termination. No termination shall release either Party hereto from any liability which at the time of such termination has already accrued to the other Party. 

10.4 Return of Materials. Upon any termination of this Agreement, each Party shall promptly return or destroy all documents
embodying or disclosing Confidential Information of the other Party, provided, however, that each Party shall be entitled to retain one archival copy of the other’s Confidential Information for purposes of determining its obligations under this
Agreement, and further provided, however, that the foregoing obligation to return or destroy shall not apply to Samsung solely with respect to any Confidential Information of Unidym that is necessary for Samsung to continue to exercise its surviving
rights in the event of Samsung’s termination of this Agreement pursuant to Section 10.2(b). 
 10.5 General
Survival. The following Articles 1, 3,11 and 12 and Sections 4.1(c), 4.1(d), 4.2, 4.3, 7, 8, 9, 10.3, and 10.4 shall survive any termination or expiration
of this Agreement. The representations and warranties set forth in this Agreement shall survive execution, delivery and effectiveness of this Agreement and continue for the life of this Agreement. 

 

	11.	DISPUTE RESOLUTION; ARBITRATION 

 11.1 Party Consultation. In the event any Party claims breach of this Agreement, the Parties shall consult with each other in good faith on the most effective means to cure the breach and to
achieve any necessary restitution of its consequences. This consultation shall be undertaken within a period of thirty (30) Business Days following the receipt of a written request to consult, and the consultation period shall not exceed
forty-five (45) Business Days. During the consultation period, neither arbitration nor litigation may be pursued until attempts at consultative dispute resolution have been exhausted. 

11.2 Arbitration. All disputes, controversies or claims between the Parties arising out of or in connection with this Agreement
(including its existence, validity or termination) not resolved pursuant to Section 11.1 shall be finally resolved by arbitration to be held in the State of New York and Borough of Manhattan and conducted in English under the Rules of
Arbitration of the International Chamber of Commerce. The arbitral award shall be final and binding on the Parties. Judgment upon the award rendered in arbitration may be entered and enforced in any court having jurisdiction. Except to the extent
entry of judgment and any subsequent enforcement may require disclosure, all matters relating to the arbitration, including the award, shall be held in confidence. 
 Notwithstanding anything in this Article 11, nothing shall limit either Party’s right to seek injunctive relief in any court of competent jurisdiction. 

  
 14 

	12.	MISCELLANEOUS 

 12.1
Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective permitted successors and assigns. Unidym shall not assign this Agreement or any of its rights and obligations under this Agreement
***. Samsung may assign this Agreement or any of its rights and obligations under this Agreement without the prior written consent of Unidym to (a) an Affiliate or (b) any entity that succeeds to all or substantially all of Samsung’s
assets and business to which this Agreement relates (whether pursuant to a spin out, sale of stock, sale of assets, a merger or otherwise). Any attempted assignment, delegation, or subcontracting by operation of law or otherwise (other than as
expressly permitted herein) in contravention of the above provisions shall be void and ineffective. With respect to Unidym only, any change of control, whether pursuant to a spin out, sale of stock, sale of assets, a merger or otherwise, shall be
deemed an assignment hereunder. 
 12.2 Governing Law. This Agreement shall be governed by and construed, interpreted and
enforced in accordance with the laws of the State of New York, USA, without giving effect to the principles of conflicts of law thereof. 
 12.3 Force Majeure. Neither Party shall be liable for delay or failure in the performance of any of its obligations hereunder if such delay or failure is due to causes beyond its reasonable
control, including natural disasters, strikes and labor disputes, acts of governments or governmental agencies, and acts of war, terrorism or civil unrest; provided, however, that the affected Party promptly notifies the other Party in writing and
further provided that the affected Party shall use its commercially reasonable efforts to avoid or remove such causes of non-performance and to mitigate the effect of such occurrence, and shall continue performance with reasonable dispatch whenever
such causes are removed. 
 12.4 Notice. All notices, consents, waivers and communications hereunder given by any Party
to the other shall be in writing (including email) and delivered personally, by email (provided that receipt is confirmed and that a copy is provided in addition by personal delivery, by courier or by mail as provided herein), by a recognized
overnight courier, or by dispatching the same by certified or registered air mail, return receipt requested, with postage prepaid, in each case addressed: 
 If to Samsung: 
 Samsung Electronics Co., Ltd. 

Intellectual Property Center 
 Intellectual Property Strategy Team 
 416 Maetan 3-dong, yeongtong-gu 

Suwon-si, Gyeonggi-do 443-742 
 Republic of Korea 
 Attention: Hosik Jang, Vice President 

Email: *** 

  
 15 

 If to Unidym: 
 Unidym, Inc. 
 1244 Reamwood Avenue 

Sunnyvale, CA 94089 
 USA 
 Attention: Mark Tilley, CEO 

Email: *** 
 or to such other
address or addresses as Unidym or Samsung may from time to time designate by notice as provided herein, except that notices of changes of address shall be effective only upon receipt. All such notices, consents, waivers and communications shall:
(a) when posted by certified or registered mail, postage prepaid, return receipt requested, be effective three (3) Business Days after dispatch, unless such communication is sent trans-Pacific, in which case it shall be deemed effective
five (5) Business Days after dispatch, (b) when sent using a recognized overnight courier or in person, be effective upon receipt when delivered, or (c) when sent by email, upon receipt of confirmatory hard copies from the sender or
return email from the recipient. 
 12.5 Independent Contractor. Nothing in this Agreement shall be construed to create:
(a) a relationship of agency, partnership, joint venture or other joint business arrangement between the Parties; (b) any fiduciary duty owed by one Party to the other Party or any of its Affiliates; (c) a relationship of employer and
employee between the Parties; or (d) any basis for any employee of one Party to claim that he or she is an employee of the other Party. No Party shall have the authority to commit the other Party contractually or otherwise to any obligations to
Third Parties. 
 12.6 Amendment and Waivers. None of the terms of this Agreement shall be amended, supplemented or
modified except in a writing signed by the Parties. Any term or condition of this Agreement may be waived at any time by the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written
instrument duly executed by or on behalf of the Party or Parties waiving such term or condition. Neither the waiver by any Party of any term or condition of this Agreement nor the failure on the part of any Party, in one or more instances, to
enforce any of the provisions of this Agreement or to exercise any right or privilege, shall be deemed or construed to be a waiver of such term or condition for any similar instance in the future or of any subsequent breach hereof. All rights,
remedies, undertakings, obligations and agreements contained in this Agreement shall be cumulative and none of them shall be a limitation of any other remedy, right, undertaking, obligation or agreement. 

12.7 Severability. If and solely to the extent that any provision of this Agreement shall be invalid or unenforceable, or shall
render this entire Agreement to be invalid or unenforceable, such offending provision shall be of no effect and shall not affect the validity of the remainder of this Agreement or any of its provisions; provided, however, the Parties shall use their
respective reasonable efforts to replace the invalid or unenforceable provision in a manner that best accomplishes the original intentions of the Parties. 
 12.8 Construction. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event any ambiguity or question of intent or interpretation arises, this

  
 16 

 
Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the
provisions of this Agreement. 
 12.9 Entire Agreement. This Agreement, together with the Exhibits and Schedules hereto
(which are incorporated herein by reference) and the other Transaction Documents constitute the entire agreement between the Parties with respect to the subject matter hereof and supersede all prior agreements, understandings and negotiations, both
written and oral, between the Parties with respect to the subject matter of this Agreement. 
 12.10 Counterparts. This
Agreement may be executed in two or more counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument. 
 12.11 Expenses. Except as otherwise expressly provided in this Agreement, Unidym and Samsung shall each pay their own expenses incident to this Agreement and the preparation for, and consummation
of, the transactions provided for herein. 
 12.12 Further Assurances. Each Party agrees to do and perform all such
further acts and things and shall execute and deliver such other agreements, certificates, instruments and documents necessary to carry out the intent and accomplish the purposes of this Agreement and to evidence, perfect or otherwise confirm its
rights hereunder. 
 12.13 Compliance with Laws. Each of Unidym and Samsung shall, in the performance of this Agreement
and its exercise of the rights and licenses granted hereunder, comply with all applicable laws, regulations and orders of the United States and any applicable foreign jurisdiction, including all applicable export and import control laws and
regulations and all laws and regulations relating to the Foreign Corrupt Practices Act, 15 U.S.C. §§ 78dd-1 et. seq., as amended. 
 *        *        *        * 

[Signature Page Follows] 

  
 17 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed by
their authorized officers as of the date first written above. 
  

									
	 UNIDYM, INC.
	 		 	SAMSUNG ELECTRONICS CO., LTD.
					
	By:	 	  
	 		 	By:	 	  

					
	Name:	 	  
	 		 	Name:	 	  

					
	Title:	 	  
	 		 	Title:	 	  

  
 18 

 EXHIBIT A 
 UNIDYM PATENTS 
  

													
	 COUNTRY
	 	APPLN. NO.	 	PUB. NO.	 	ISSUE NO.	 	TITLE	 	OWNERSHIP	 	STATUS
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***
							
	***	 	***	 	***	 	***	 	***	 	***	 	***

  
 19 

 EXHIBIT B 
 EXISTING UNIDYM OUTBOUND LICENSE AGREEMENTS 
 Amended and Restated Collaboration and
License Agreement between Unidym and ***, dated ***. 
 License Agreement between Unidym and ***, dated ***. 

  
 20 

 EXHIBIT C 
 EXISTING UNIDYM PATENT LICENSE AGREEMENTS 
 License Agreement between Nanoconduction
and ***, dated ***. 
 License Agreement between Nanoconduction and ***, dated ***. 
 Agreement Regarding Intellectual Property and Waiver of Put Options Between Unidym and ***, dated ***. 

  
 21 

 EXHIBIT D  

PATENT ASSIGNMENT AGREEMENT 
 THIS PATENT ASSIGNMENT (“Assignment”) is made and entered into as of this      day of
            , 2010, (“Effective Date”), by and between UNIDYM, INC., a Delaware corporation (“Assignor”) and SAMSUNG ELECTRONICS CO., LTD., a
company incorporated under the laws of the Republic of Korea (“Assignee”). 
 WHEREAS, Assignor and
Assignee are parties to that certain Intellectual Property Purchase and Business Cooperation Agreement dated as of             , 2010 (“Purchase Agreement”),
pursuant to which Assignor has agreed to sell and Assignee has agreed to purchase certain assets as defined in the Purchase Agreement; 
 WHEREAS, Assignor is the sole and exclusive owner of the entire right, title and interest in, to and under those United States patents and patent applications identified and set forth on Schedule A
and the foreign patents and patent applications identified and set forth on Schedule B (together, the “Patents”); and 
 WHEREAS, Assignee wishes to acquire and Assignor wishes to assign all right, title and interest in and to the Patents. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor does hereby sell, convey, assign, transfer and deliver to Assignee, the
entire right, title and interest in and to the Patents, for the United States and for all foreign countries, including any continuations, divisions, continuations in part, reissues, reexaminations, extensions or foreign equivalents thereof, and
including the subject matter of all claims which may be obtained therefrom for Assignee’s own use and enjoyment, and for the use and enjoyment of its successors, assigns or other legal representatives, as fully and entirely as the same would
have been held and enjoyed by Assignor if this Assignment and sale had not been made; together with all income, royalties, damages and payments due or payable as of the Effective Date or thereafter, including, without limitation, all claims for
damages by reason of past, present or future infringement or other unauthorized use of the Patents, with the right to sue for, and collect the same for Assignee’s own use and enjoyment, and for the use and enjoyment of Assignee’s
successors, assigns, or other legal representatives. 
 Assignor authorizes and requests the Commissioner of Patents and
Trademarks and the equivalent official or institution in each country throughout the world to record Assignee as owner of the Patents, including any continuations, divisions, continuations-in part, reissues, reexaminations or extensions thereof, and
to issue any and all letters patent of the United States (or such other country) thereon to Assignee, as assignee of the entire right, title and interest in, to and under the same, for the sole use and enjoyment of Assignee, its successors, assigns
or other legal representatives. 
 Assignor hereby represents and warrants that its right, title and interest in, to and under
the Patents are free and clear of any liens and encumbrances, that it has full right to assign all of its right, title and interests therein, and that it has not executed and will not execute any agreement or other instrument in conflict herewith.

  
 22 

 Assignor shall provide Assignee and its successors, assigns or other legal representatives,
cooperation and assistance at Assignee’s request and expense (including the execution and delivery of any and all affidavits, declarations, oaths, exhibits, assignments, powers of attorney or other documentation as may be reasonably required):
(1) in the preparation and prosecution of any applications covering the inventions assigned herein; (2) in the prosecution or defense of any interference, opposition, reexamination, reissue, infringement or other proceedings that may arise
in connection with any of the patent rights assigned herein, including, but not limited to, testifying as to any facts relating to the patent rights assigned herein and this Assignment; (3) in obtaining any additional patent protection that
Assignee may deem appropriate which may be secured under the laws now or hereafter in effect in the United States or any other country; and (4) in the implementation or perfection of this Assignment throughout the world. 

Assignor shall take all further actions, and provide Assignee, Assignee’s successors, assigns or other legal representatives, all
such cooperation and assistance (including, without limitation, the execution and delivery of any and all affidavits, declarations, oaths, exhibits, assignments, powers of attorney or other documentation), reasonably requested by Assignee to more
fully and effectively effectuate the purposes of this Assignment. 
 Where Assignee is unable because of Assignor’s
unavailability, dissolution or for any other reason, to secure Assignor’s signature to apply for or to pursue any application for, or recordal of assignment of, any United States or foreign patents or patent applications, then Assignor hereby
irrevocably designates and appoints Assignee and its duly authorized officers and agents as Assignor’s agent and attorney in fact, to act for and in Assignor’s behalf and stead to execute and file and pursue any such applications and to do
all other lawfully permitted acts further the prosecution and issuance of patents and the recordal of assignment thereof with the same legal force and effect as if executed by Assignor. 

This Assignment may be executed in counterparts, each of which shall be an original, but all of which together shall constitute one and
the same instrument. 

*            *          
  *            *            *            * 

  
 23 

 IN TESTIMONY WHEREOF, the Assignor and Assignee have caused this Assignment to be
signed and executed by the undersigned officers thereunto duly authorized on the date specified below with each of the parties intended to be legally bound hereby. 
  

			
	UNIDYM, INC.
		
	By:	 	  

		
	Its:	 	  

		
	Date:	 	  

 

					
	STATE OF	  	)	 	
		  	)	 	SS.
	COUNTY OF	  	)	 	

 On this      day of
            , 2010, there appeared before me                     ,
personally known to me, who acknowledged that he signed the foregoing Assignment as his voluntary act and deed on behalf and with full authority of
                    . 
  

	
	  

	Notary Public

  
 24 

			
	SAMSUNG ELECTRONICS CO., LTD.
		
	By:	 	  

		
	Its:	 	  

		
	Date:	 	  

 

					
	STATE OF	  	)	 	 
		  	)	 	SS.
	COUNTY OF	  	)	 	

 On this      day of
            , 2010, there appeared before me                     ,
personally known to me, who acknowledged that he signed the foregoing Assignment as his voluntary act and deed on behalf and with full authority of
                    . 
  

	
	  

	Notary Public

  
 25 

 Schedule A – US Patents and Patent Applications 

 

																	
	 Country
	 	App. No.	 	Pub. No.	 	Issued
No.	 	Title	 	Third
Party
License
Rights	 	Assignee	 	Status	 	Fees &
Responses
To Office
Actions
Deadlines
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***

  
 26 

 Schedule B – Foreign Patents and Patent Applications 

 

																	
	 Country
	 	App. No.	 	Pub. No.	 	Issued
No.	 	Title	 	Third
Party
License
Rights	 	Assignee	 	Status	 	Fees &
Responses
To Office
Actions
Deadlines
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
									
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***

  
 27 

 EXHIBIT E 

PRESS RELEASE 
 UNIDYM ANNOUNCES ALLIANCE WITH SAMSUNG ELECTRONICS 
 Unidym, Inc., a
majority owned subsidiary of Arrowhead Research, announced today that it has completed IP cooperation and license agreements with Samsung Electronics Co., Ltd. (“Samsung”). Under the agreements: 

 

	 	1.	Unidym licensed to Samsung patents covering CNT materials, including fundamental patents on CNT compositions of matter, synthesis of CNTs, processing of CNTs, ink
formulations, and transparent conductive films. 

  

	 	2.	Unidym transferred certain patent rights to Samsung, primarily related to electronic devices incorporating CNTs. Samsung granted back to Unidym licenses to sell
products under the transferred patent rights. 

  

	 	3.	Unidym and Samsung will continue to work together to develop and commercialize CNT-based products. 

“This is an important development in carbon-based electronics,” said Mark Tilley, President and CEO of Unidym. “We have
worked with Samsung Electronics for several years, and we are now looking forward to this next phase in our relationship. We expect Samsung’s investment in this alliance and ongoing IP cooperation with Unidym will open the market for printable
carbon electronics.” 
 About Samsung Electronics Co., Ltd. 
 Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2009 consolidated sales of US$116.8 billion. Employing
approximately 174,000 people in 193 offices across 66 countries, the company consists of eight independently operated business units: Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, Digital
Imaging, Semiconductor and LCD. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs. For more information, please visit http://www.samsung.com.

 About Unidym, Inc. 
 Unidym is a leader in carbon nanotube-based transparent, conductive films (TCFs) for the electronics industry. TCFs are a critical component in devices such as touch panels, displays, and thin-film solar
cells. For example, both touch panels and LCDs typically employ two TCF layers per device. Unidym’s TCFs offer substantial advantages over the incumbent technology, indium-based metal oxides, including: improved durability, lower processing
costs, and lower overall cost structure. For more information, visit:http://www.unidym.com. Unidym is a majority-owned subsidiary of Arrowhead Research Corporation (NASDAQ: ARWR). 

  
 28 

 EXHIBIT F 

INTELLECTUAL PROPERTY PURCHASE AND BUSINESS COOPERATION 

AGREEMENT DISCLOSURE SCHEDULES 
 Schedule 3.3 
 With respect to the Unidym Patents co-owned by Unidym and
***, Samsung assumes the following rights and obligations of Unidym under Section 1.15 of the Asset Purchase Agreement by and between Unidym (“Seller”) and *** (“Buyer”) dated ***: 

(a) Patent Prosecution. Buyer and Seller shall cooperate to prosecute and maintain the [Unidym Patents co-owned by Unidym and ***].

 (b) Patent Costs. Buyer and Seller shall share equally all costs associated with prosecuting and maintaining the patents and
patent applications in the [Unidym Patents co-owned by Unidym and ***]. If either Buyer or Seller wishes to stop the payment of its share of the maintenance fees or prosecution costs associated with a patent or patent application in any country in
the [Unidym Patents co-owned by Unidym and ***], the other Party may take over the payment of such share. The Party discontinuing to pay its share shall transfer to the other Party which continues such payments, its title to, rights and interests in
such patent or patent applications for the countries concerned. The rights of third parties under already existing licenses and agreements shall not be prejudiced. 
 (c) Enforcement. If either Buyer or Seller wishes to file a lawsuit using the [Unidym Patents co-owned by Unidym and ***] against a third party, the other Party shall cooperate as necessary, including
joining of the lawsuit. The Party that files the lawsuit shall pay for all reasonable costs and expenses incurred by the other Party. The Party that files the lawsuit shall be entitled to *** percent (***%) of any net proceeds after such costs and
expenses resulting from the lawsuit, and the other Party shall be entitled to ***. (***%) of any such net proceeds resulting from the lawsuit. Neither Party shall assert issued patents in the [Unidym Patents co-owned by Unidym and ***] against any
third party that Buyer or Seller has entered a license or non-assertion agreement with respect to those issued patents. 
 (d)
Licensing. With [respect] to licensing the patents and patent applications in the [Unidym Patents co-owned by Unidym and ***] to third parties, Buyer and Seller agree as follows: 

(i) Buyer shall not license patents and patent applications in the [Unidym Patents co-owned by Unidym and ***] to any other party in any
field of use that Seller has already exclusively licensed such patents and patent applications prior to the Closing Date. 

  
 29 

 (ii) Subject to Section 1.15(d)(i), either Party may sublicense the patents and patent
applications in the [Unidym Patents co-owned by Unidym and ***] to third parties so long as such sublicensing party shall pay to the other Party *** percent (***%) of any licensing fees resulting from such sublicense, and provided, further, the
following: 
 (A) Buyer shall not license patents and patent applications in the [Unidym Patents co-owned by Unidym and ***] to
any competitors of Seller in the *** Business so long as (i) an exclusive contract manufacturing agreement relating to the sale of *** product in Sellers’ *** Business between Seller and Buyer is in full force and effect and
(ii) Seller is not in breach of such contract manufacturing agreement; and 
 (B) Seller will not be required to pay any
licensing fees to Buyer with respect to any sublicensing arrangements directly related to Seller’s Inks and Films Business. 

  
 30 

 Schedule 7.1(f)(i) 
  

																	
	 COUNTRY
	 	APP. NO.	 	PUB. NO.	 	ISSUE
NO.	 	TITLE	 	THIRD
PARTY
LICENSE
RIGHTS	 	ASSIGNEE	 	STATUS	 	FEES &
RESP TO
OFFICE
ACTION
DEADLINE
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***
	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***	 	***

  
 31 

 Schedule 7.1(f)(ii) 
  

	 	•	 	 U.S. Patent No. *** 

  

	 	•	 	 U.S. Patent No. *** 

  

	 	•	 	 U.S. Patent No. *** 

  

	 	•	 	 U.S. Patent Application *** 

  

	 	•	 	 U.S. Patent Application *** 

Schedule 7.1(f)(iii) 
 *** 

  
 32Patent and Technology License Agreement

 Exhibit 10.4 
 CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT OF 1933. 
 PATENT AND TECHNOLOGY LICENSE AGREEMENT 
 This AGREEMENT (“AGREEMENT”) is made on
this 14th day of December, 2010, by and between THE BOARD OF REGENTS (“BOARD”) of THE UNIVERSITY OF TEXAS SYSTEM (“SYSTEM”), an agency of the State of Texas, whose address is 201 West 7th Street, Austin, Texas 78701, on behalf of
THE UNIVERSITY OF TEXAS M. D. ANDERSON CANCER CENTER (“UTMDACC”), a member institution of SYSTEM, and ARROWHEAD RESEARCH CORPORATION a Delaware corporation having a principal place of business located at 201 South Lake Avenue, Suite 703,
Pasadena, CA 91101 (“LICENSEE”). 
 RECITALS 

 

	A.	BOARD owns certain PATENT RIGHTS and TECHNOLOGY RIGHTS related to LICENSED SUBJECT MATTER developed at UTMDACC. 

 

	B.	BOARD, through UTMDACC, desires to have the LICENSED SUBJECT MATTER developed in the LICENSED FIELD and used for the benefit of LICENSEE, BOARD, SYSTEM, UTMDACC, the
inventor(s), and the public as outlined in BOARD’s Intellectual Property Policy. 

  

	C.	LICENSEE wishes to obtain a license from BOARD to practice LICENSED SUBJECT MATTER. 

 NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, the parties agree as follows: 
 I. EFFECTIVE DATE 
  

	1.1	This AGREEMENT is effective as of the date written above (“EFFECTIVE DATE”) which is the date fully executed by all parties. 

  
 1 

 II. DEFINITIONS 

As used in this AGREEMENT, the following terms have the meanings indicated: 

 

	2.1	AFFILIATE means any business entity more than fifty percent (50%) owned by LICENSEE, any business entity which owns more than fifty percent (50%) of
LICENSEE, or any business entity that is more than fifty percent (50%) owned by a business entity that owns more than fifty percent (50%) of LICENSEE. 

 

	2.2	IMPROVEMENT(s) means BOARD’s rights in any invention that is an improvement or modification to the PATENT RIGHTS in the LICENSED FIELD, that cannot be
practiced without infringing a claim of any issued patent or pending application under the PATENT RIGHTS, and that: 

  

	 	(1)	is conceived and reduced to practice solely by Wadih Arap, M.D., Ph.D. and/or Renata Pasqualini, Ph.D., and/or any UTMDACC lab personnel working solely under the
supervision of either of them, while both are employed solely by UTMDACC, and is conceived and reduced to practice solely at UTMDACC-owned facilities; and 

  

	 	(2)	is conceived and reduced to practice within five (5) years of the EFFECTIVE DATE; and 

 

	 	(3)	is not obligated, in whole or in part, to a third party in any field of use and is owned solely by the BOARD; and 

 

	 	(4)	is disclosed to UTMDACC’s Office of Technology Commercialization “OTC”) in accordance with UTMDACC’s Intellectual Property Policy or is otherwise
disclosed to OTC. 

  
 2 

 Notwithstanding the foregoing, IMPROVEMENTS shall not include any improvement or
modification involving or related to the EXCLUDED PEPTIDES/FRAGMENTS. 
  

	2.3	IND means the application submitted to the United States Food and Drug Administration (“FDA”) for approval to conduct a clinical investigation with an
investigational new drug, as more specifically defined by 21 C.F.R. §312 et seq., or any future revisions or substitutes thereof, or an equivalent application filed with any equivalent regulatory agency or governmental authority in any
jurisdiction other than the United States. 

  

	2.4	 LICENSED FIELD means the fields of: (A) therapeutics, diagnostics and research products and services that satisfy both of the following
criteria: (1) the products and services incorporate peptides that specifically target receptors on adipose tissue or vasculature associated with adipose tissue; and (2) the products and services are used to treat, diagnose or research
solely the following: (a) obesity and overweight; and/or (b) metabolic conditions related to, caused by, and/or associated with obesity and overweight; and (B) cancer therapeutics, cancer diagnostics and cancer research products and
services, involving the direct or indirect use of any of the *** peptide, any functional fragments thereof, or any derivatives or functional analogs of any such peptides or fragments. Notwithstanding the foregoing, the LICENSED FIELD shall not
include any field that involves the direct or indirect use of any of the following peptides, any functional fragments thereof, or any derivatives, or analogs of any such peptides or fragments (including any compositions, products, processes,

  
 3 

	 	 
methods, or services comprising or incorporating any of the foregoing peptides, fragments, derivatives or analogs (collectively, the ***): (1) the ***; (2) the ***; (3) the ***;
(4) the ***; (5) the ***; and (6) the ***. 

  

	2.5	LICENSED PRODUCTS means any product or service sold by LICENSEE or its AFFILIATES or their sublicensees comprising LICENSED SUBJECT MATTER pursuant to this
AGREEMENT. 

  

	2.6	LICENSED SUBJECT MATTER means inventions and discoveries covered by PATENT RIGHTS or TECHNOLOGY RIGHTS within LICENSED FIELD. 

 

	2.7	LICENSED TERRITORY means worldwide. 

  

	2.8	MARKETING APPROVAL means the approval required by the United States Food and Drug Administration (“FDA”) in the United States, or an equivalent
regulatory agency or governmental authority in any jurisdiction other than the United States, to market and sell a LICENSED PRODUCT in such jurisdiction. 

  

	2.9	NDA means a New Drug Application or Biologics License Application filed with the FDA in connection with obtaining MARKETING APPROVAL, or an equivalent
application filed with any equivalent regulatory agency or governmental authority in any jurisdiction other than the United States. 

  

	2.10	 NET SALES means the gross revenues received by LICENSEE or its AFFILIATES or their sublicensees from a SALE less sales discounts actually
granted, sales and/or use taxes actually paid, import and/or export duties actually 

  
 4 

	 	 
paid, outbound transportation actually prepaid or allowed, and amounts actually allowed or credited due to returns (not exceeding the original billing or invoice amount), all as recorded by
LICENSEE or its AFFILIATES or their sublicensees in their official books and records in accordance with generally accepted accounting practices and consistent with their published financial statements and/or regulatory filings with the United States
Securities and Exchange Commission. 

  

	2.11	PATENT RIGHTS means BOARD’s rights in the information or discoveries described in invention disclosures, or claimed in any patents and/or patent
applications, whether domestic or foreign, as identified in Exhibit I attached hereto, and all divisionals, continuations, continuations-in-part (to the extent the claims of such continuations-in-part are entitled to claim priority to the aforesaid
patents and/or patent applications identified in Exhibit I), reissues, reexaminations or extensions of the patents and/or patent applications identified in Exhibit I, and any letters patent, domestic or foreign, that issue thereon.

  

	2.12	PHASE I CLINICAL STUDY means: (a) that portion of the FDA submission and approval process which provides for the first introduction into humans of a product
with the purpose of determining human toxicity, metabolism, absorption, elimination and other pharmacological action, as more fully defined by the rules and regulations of the FDA, including 21 C.F.R. § 312.21(a) or any future revisions or
substitutes therefor; or (b) a similar clinical study in any jurisdiction other than the United States. 

  
 5 

	2.13	PHASE II CLINICAL STUDY means: (a) that portion of the FDA submission and approval process which provides for early controlled clinical studies conducted to
obtain preliminary data on the effectiveness of a product for a particular indication, as more specifically defined by the rules and regulations of the FDA, including 21 C.F.R. § 312.21(b) or any future revisions or substitutes therefor; or
(b) a similar clinical study in any jurisdiction other than the United States. 

  

	2.14	PHASE III CLINICAL STUDY means: (a) that portion of the FDA submission and approval process in which expanded clinical trials are conducted to gather the
additional information about effectiveness and safety that is needed to evaluate the overall benefit-risk relationship of a product, as more specifically defined by the rules and regulations of the FDA, including 21 C.F.R. § 312.21(c) or any
future revisions or substitutes therefor; or (b) a similar clinical study in any jurisdiction other than the United States. 

  

	2.15	SALE or SOLD means the transfer or disposition of a LICENSED PRODUCT for value to a party other than LICENSEE, an AFFILIATE or a ROYALTY-FREE
PRACTITIONER. As used herein, “ROYALTY-FREE PRACTITIONER” means UTMDACC and the following individuals: Wadih Arap, M.D., Ph.D. and Amado Zurita-Saavedra, M.D. (“PHYSICIAN INVENTORS”), and any partner or associate who practices
medicine with one or more of the PHYSICIAN INVENTORS, but with respect to such partner or associate, only for such time as he/she is engaged in a bona fide medical practice with one or more of the PHYSICIAN INVENTORS. 

  
 6 

	2.16	TECHNOLOGY RIGHTS means BOARD’s rights in any technical information, know-how, processes, procedures, compositions, devices, methods, formulae, protocols,
techniques, software, designs, drawings or data created by the inventor(s) listed in Exhibit I at UTMDACC before the EFFECTIVE DATE, which are not claimed in PATENT RIGHTS but that are necessary for practicing PATENT RIGHTS.

  

	2.17	VALID CLAIM means: (a) a claim of any issued, unexpired patent that has not been revoked or held unenforceable or invalid by a decision of a court or
governmental agency of competent jurisdiction from which no appeal can be taken, or with respect to which an appeal is not taken within the time allowed for appeal, and that has not been disclaimed or admitted to be invalid or unenforceable through
reissue, disclaimer or otherwise; or (b) a claim of any pending or published patent application that that has not been cancelled, withdrawn or abandoned and that has not been pending for more than five (5) years from the filing date of the
earliest patent application from which the pending or published application containing such claim claims priority. For purposes of clarification, if a claim in an application has been pending for more than five (5) years from its priority date,
and a patent subsequently issues containing such claim, then upon issuance of the patent, the claim shall thereafter be considered a VALID CLAIM. 

  
 7 

 III. LICENSE 

 

	3.1	BOARD, through UTMDACC, hereby grants to LICENSEE a royalty-bearing, exclusive license under LICENSED SUBJECT MATTER to manufacture, have manufactured, use, import,
offer to sell and/or sell LICENSED PRODUCTS within LICENSED TERRITORY for use within LICENSED FIELD. This grant is subject to Sections 14.1, 14.2 and 14.3 hereinbelow, the payment by LICENSEE to UTMDACC of all consideration as provided herein, the
timely payment of all amounts due hereunder, and is further subject to the following rights retained by BOARD and UTMDACC to: 

  

	 	(a)	Publish the general scientific findings from research related to LICENSED SUBJECT MATTER, subject to the terms of ARTICLE XI–Confidential Information and
Publication; and 

  

	 	(b)	Use LICENSED SUBJECT MATTER for: (1) commercial and non-commercial research; and (2) teaching, patient care, and other academically-related purposes; provided
however, that BOARD and UTMDACC shall not engage in commercial research that is specifically directed to the use of PATENT RIGHTS and/or TECHNOLOGY RIGHTS in the LICENSED FIELD. BOARD and UTMDACC may engage in general commercial research with
respect to PATENT RIGHTS and TECHNOLOGY RIGHTS and in commercial research in fields of use other than the LICENSED FIELD.

  
 8 

	3.2	LICENSEE may extend the license granted herein to any AFFILIATE provided that the AFFILIATE consents in writing to be bound by this AGREEMENT to the same extent as
LICENSEE. LICENSEE agrees to deliver such contract to UTMDACC within thirty (30) calendar days following execution thereof. 

  

	3.3	LICENSEE may grant sublicenses under LICENSED SUBJECT MATTER consistent with the terms of this AGREEMENT provided that LICENSEE is responsible for its sublicensees
relevant to this AGREEMENT, and for diligently collecting all amounts due LICENSEE from sublicensees. If a sublicensee pursuant hereto becomes bankrupt, insolvent or is placed in the hands of a receiver or trustee, LICENSEE, to the extent allowed
under applicable law and in a timely manner, agrees to use its best commercially reasonable efforts to collect all consideration owed to LICENSEE and to have the sublicense agreement confirmed or rejected by a court of proper jurisdiction.

  

	3.4	LICENSEE must deliver to UTMDACC a true and correct copy of each sublicense granted by LICENSEE, and any modification or termination thereof, within sixty
(60) calendar days after execution, modification, or termination. 

  

	3.5	If this AGREEMENT is terminated pursuant to ARTICLE XIII-Term and Termination, BOARD and UTMDACC agree to accept as successors to LICENSEE, existing sublicensees in
good standing at the date of termination provided that each such sublicensee consents in writing to be bound by all of the terms and conditions of this AGREEMENT. 

  
 9 

	3.6	UTMDACC shall promptly disclose any IMPROVEMENTS to LICENSEE. LICENSEE shall have ninety (90) days from the date of such disclosure to notify UTMDACC in writing
whether LICENSEE desires to include such IMPROVEMENTS under this AGREEMENT. If LICENSEE desires to include a disclosed IMPROVEMENT in this AGREEMENT, the parties shall enter into an amendment to this AGREEMENT adding BOARD’s rights in such
IMPROVEMENT to Exhibit I, giving LICENSEE a license to such IMPROVEMENT in the LICENSED FIELD. LICENSEE will reimburse UTMDACC for all documented legal and filing fees incurred by UTMDACC relating to any IMPROVEMENT added to this AGREEMENT. If
LICENSEE does not send written notice to UTMDACC of its desire to add the IMPROVEMENT to the AGREEMENT prior to expiration of the ninety (90) day period, then thereafter UTMDACC shall have the right to freely license the IMPROVEMENT to third
parties, with no further obligation or consideration due to LICENSEE. In the event an IMPROVEMENT is added to the AGREEMENT pursuant to this Section 3.6, the term “EFFECTIVE DATE” as used in Section 2.16 for purposes of defining
the TECHNOLOGY RIGHTS related to such IMPROVEMENT shall be deemed to be the effective date of the amendment adding such IMPROVEMENT to this AGREEMENT. 

  
 10 

 IV. CONSIDERATION, PAYMENTS AND REPORTS 

 

	4.1	In consideration of rights granted by BOARD to LICENSEE under this AGREEMENT, LICENSEE agrees to pay UTMDACC the following: 

 

	 	(a)	 All documented legal and filing fees incurred by UTMDACC after the EFFECTIVE DATE in filing, prosecuting, and maintaining PATENT RIGHTS, and all such
future expenses incurred by UTMDACC, for so long as, and in such countries as this AGREEMENT remains in effect (“PATENT EXPENSES”). Notwithstanding the foregoing, in the event that there are other entities with licenses to both of the
technologies listed on Exhibit I in other fields of use (“ADDITIONAL LICENSEES”), then LICENSEE shall be obligated to pay only a pro rata share of the PATENT EXPENSES as follows. LICENSEE’s pro rata share shall be calculated by
dividing the total amount of PATENT EXPENSES by the total number of ADDITIONAL LICENSEES with active licenses plus one (for LICENSEE). In the event ADDITIONAL LICENSEES are added after LICENSEE has paid an invoice, LICENSEE shall not be entitled to
a refund of any past payments for PATENT EXPENSES. However, LICENSEE shall be entitled to reduce the amount of prospective payments due to UTMDACC by an amount that will result in LICENSEE’S share of PATENT EXPENSES being equal to the pro rata
share of the PATENT EXPENSES divided by the number of then currently active ADDITIONAL LICENSEES plus one (for LICENSEE). UTMDACC will invoice LICENSEE on a quarterly basis for PATENT EXPENSES and will indicate in the invoice the total number of
ADDITIONAL LICENSEES with active licenses and specify the amount owed by LICENSEE. Any invoiced amounts will be due and payable by LICENSEE within thirty (30) calendar days of invoice. With respect to patent expenses incurred prior to the
EFFECTIVE DATE, it is understood and agreed that certain patent expenses incurred prior to the EFFECTIVE 

  
 11 

	 	 
DATE have been paid by LICENSEE and that the Option Fee of *** paid by LICENSEE pursuant to the Option Agreement between the parties dated June 15, 2010 has been applied towards patent
expenses incurred prior to the EFFECTIVE DATE. LICENSEE understands and agrees that LICENSEE is not entitled to any refund of such payments, nor is LICENSEE entitled to apply or credit any such past payments (including, but not limited to the Option
Fee) towards any amounts due under this AGREEMENT; and 

  

	 	(b)	A one-time nonrefundable license documentation fee in the amount of $2,000,000.00. This fee will not reduce the amount of any other payment provided for in this ARTICLE
IV, and is due and payable within thirty (30) calendar days after the AGREEMENT has been fully executed by all parties and LICENSEE has received an invoice for the amount from UTMDACC. This license documentation fee is not subject to the thirty
(30) day cure period set forth in Section 13.3(b); and 

  

	 	(c)	The following nonrefundable annual maintenance fees (each an “Annual Maintenance Fee”) due and payable (without invoice) within thirty (30) calendar days
of each anniversary of the EFFECTIVE DATE until the first SALE as follows: 

  

	 	(1)	an Annual Maintenance Fee of *** shall be due and payable within thirty (30) calendar days of the first anniversary of the EFFECTIVE DATE;

  
 12 

	 	(2)	thereafter, the Annual Maintenance Fee will increase by *** each year up to a maximum of ***. For example, an Annual Maintenance Fee of *** will be due and payable
within thirty (30) calendar days of the second anniversary of the EFFECTIVE DATE; an Annual Maintenance Fee of *** will be due and payable within thirty (30) calendar days of the third anniversary of the EFFECTIVE DATE, and so on. The
Annual Maintenance Fee may be credited against milestone payments due under Section 4.1(f). Otherwise, the Annual Maintenance Fee will not reduce the amount of any other payment provided for in this ARTICLE IV; and 

 

	 	(d)	Running royalties to be calculated on a country-by-country basis as follows: 

 

	 	(1)	a running royalty equal to *** of NET SALES of LICENSED PRODUCTS covered by a VALID CLAIM in the jurisdiction of SALE at the time of SALE; and 

 

	 	(2)	a running royalty equal to *** of NET SALES of LICENSED PRODUCTS not covered by a VALID CLAIM in the jurisdiction of SALE at the time of SALE, unless LICENSEE declined
to pay or failed to pay the applicable PATENT EXPENSES for pursuing and obtaining a VALID CLAIM in the jurisdiction of SALE, in which case a running royalty equal to *** of NET SALES of LICENSED PRODUCTS shall apply; and 

  
 13 

	 	(e)	After the first SALE, minimum annual royalties (“Minimum Annual Royalties”) of ***, due and payable (without invoice) within thirty (30) calendar days of
the first and subsequent anniversaries of the EFFECTIVE DATE which follow the first SALE. Running royalties accrued under Section 4.1(d) and paid to UTMDACC during the one year period preceding an anniversary of the EFFECTIVE DATE shall be
credited against the Minimum Annual Royalties due on that anniversary date; and 

  

	 	(f)	The following one-time milestone payments, due and payable to UTMDACC regardless of whether the milestone is achieved by LICENSEE, a sublicensee or AFFILIATE:

  

	 	(1)	Commencement of the first PHASE I CLINICAL STUDY in any jurisdiction for a LICENSED PRODUCT that is covered by a VALID CLAIM in at least one jurisdiction: ***;

  

	 	(2)	Commencement of the first PHASE II CLINICAL STUDY in any jurisdiction for a LICENSED PRODUCT that is covered by a VALID CLAIM in at least one jurisdiction: ***;

  

	 	(3)	Commencement of the first PHASE III CLINICAL STUDY in any jurisdiction for a LICENSED PRODUCT that is covered by a VALID CLAIM in at least one jurisdiction: ***;

  

	 	(4)	submission of the first NDA in any jurisdiction for a LICENSED PRODUCT that is covered by a VALID CLAIM in at least one jurisdiction: ***; 

  
 14 

	 	(5)	receipt of MARKETING APPROVAL in the United States for the first LICENSED PRODUCT that is covered by a VALID CLAIM in any jurisdiction: ***; 

 

	 	(6)	receipt of MARKETING APPROVAL in Europe for the first LICENSED PRODUCT that is covered by a VALID CLAIM in any jurisdiction: ***; and 

 

	 	(7)	receipt of MARKETING APPROVAL in Japan for the first LICENSED PRODUCT that is covered by a VALID CLAIM in any jurisdiction: ***. 

“Commencement” of a clinical study as used in this AGREEMENT shall be deemed to occur upon the first administration of a
LICENSED PRODUCT or placebo to any individual enrolled in the applicable clinical study. Each of the foregoing milestone payments shall be made by LICENSEE to UTMDACC (without invoice) within thirty (30) calendar days of achieving the milestone
event and shall not reduce the amount of any other payment provided for in this ARTICLE IV. LICENSEE will promptly advise UTMDACC when each milestone is achieved; and 
  

	 	(g)	The following percentages of all consideration (other than research and development money, royalties for NET SALES, and consideration for the purchase of
LICENSEE’s stock or other securities not in excess of fair market value) received by the LICENSEE from a sublicensee pursuant to Sections 3.3 and 3.4 hereinabove, including, but not limited to, up-front payments, marketing, distribution,
franchise, option, license, or documentation fees, bonus, milestone payments and equity securities: 

  

	 	(1)	*** of all such consideration received on or before completion of a PHASE I CLINICAL STUDY in any jurisdiction sponsored by LICENSEE for a LICENSED PRODUCT covered by a
VALID CLAIM in at least one jurisdiction; 

  
 15 

	 	(2)	*** of all such consideration received after completion of a PHASE I CLINICAL STUDY in any jurisdiction sponsored by LICENSEE for a LICENSED PRODUCT covered by a VALID
CLAIM in at least one jurisdiction, but on or before completion of a PHASE II CLINICAL STUDY in any jurisdiction sponsored by LICENSEE for a LICENSED PRODUCT covered by a VALID CLAIM in at least one jurisdiction; and 

 

	 	(3)	*** of all such consideration received after completion of a PHASE II CLINICAL STUDY in any jurisdiction sponsored by LICENSEE for a LICENSED PRODUCT covered by a VALID
CLAIM in at least one jurisdiction; and 

  

	 	(h)	In the event this AGREEMENT or any sublicense under this AGREEMENT is assigned to a third party (other than an AFFILIATE), the following percentage of all consideration
received for the assignment of rights under this AGREEMENT/sublicense shall be payable to UTMDACC (in partial consideration for UTMDACC’s allowing the assignment) on or before the effective date of the assignment: 

 

	 	(1)	*** of all consideration received on or before completion of a PHASE I CLINICAL STUDY for a LICENSED PRODUCT sponsored by LICENSEE; 

  
 16 

	 	(2)	*** of all consideration received after completion of a PHASE I CLINICAL STUDY for a LICENSED PRODUCT sponsored by LICENSEE, but on or before completion of a PHASE II
CLINICAL STUDY for a LICENSED PRODUCT sponsored by LICENSEE; and 

  

	 	(3)	*** of all consideration received after completion of a PHASE II CLINICAL STUDY for a LICENSED PRODUCT sponsored by LICENSEE. 

 

	4.2	Unless otherwise provided, all such payments are payable within thirty (30) calendar days after March 31, June 30, September 30, and
December 31 of each year during the term of this AGREEMENT, at which time LICENSEE will also deliver to UTMDACC a true and accurate report, giving such particulars of the business conducted by LICENSEE, its AFFILIATES and its sublicensees, if
any exist, during the preceding three (3) calendar months under this AGREEMENT as necessary for UTMDACC to account for LICENSEE’s payments hereunder. This report will include pertinent data, including, but not limited to:

  

	 	(a)	the accounting methodologies used to account for and calculate the items included in the report and any differences in such accounting methodologies used by LICENSEE
since the previous report; and 

  
 17 

	 	(b)	a list of LICENSED PRODUCTS produced for the three (3) preceding calendar months categorized by the technology it relates to under PATENT RIGHTS; and

  

	 	(c)	the total quantities of LICENSED PRODUCTS produced by the category listed in Section 4.2(b); and 

 

	 	(d)	the total SALES by the category listed in Section 4.2(b); and 

  

	 	(e)	the calculation of NET SALES by the category listed in Section 4.2(b); and 

 

	 	(f)	the royalties so computed and due UTMDACC by the category listed in Section 4.2(b) and/or minimum royalties; and 

 

	 	(g)	all consideration received from each sublicensee or assignee and payments due UTMDACC; and 

 

	 	(h)	all other amounts due UTMDACC herein. 

 Simultaneously with the delivery of each such report, LICENSEE agrees to pay UTMDACC the amount due, if any, for the period of such report. These reports are required even if no payments are due.

  

	4.3	 During the term of this AGREEMENT and for one (1) year thereafter, LICENSEE agrees to keep complete and accurate records of its, its
AFFILIATES’ and its sublicensees’ SALES and NET SALES in sufficient detail to enable the royalties and other payments due hereunder to be determined. LICENSEE agrees

  
 18 

	 	 
to permit UTMDACC or its representatives, at UTMDACC’s expense, to periodically examine LICENSEE’s books, ledgers, and records during regular business hours for the purpose of and to
the extent necessary to verify any report required under this AGREEMENT. If any amounts due UTMDACC are determined to have been underpaid in an amount equal to or greater than ten percent (10%) of the total amount due during the period so
examined, then LICENSEE will pay the cost of the examination plus accrued interest at the highest allowable rate. 

  

	4.4	Within thirty (30) calendar days following each anniversary of the EFFECTIVE DATE, LICENSEE will deliver to UTMDACC a written progress report as to LICENSEE’s
(and any sublicensee’s) efforts and accomplishments during the preceding year in diligently commercializing LICENSED SUBJECT MATTER in the LICENSED TERRITORY and LICENSEE’s (and sublicensees’) commercialization plans for the upcoming
year. 

  

	4.5	All amounts payable hereunder by LICENSEE will be paid in United States funds without deductions for taxes, assessments, fees, or charges of any kind. Checks are to be
made payable to The University of Texas M. D. Anderson Cancer Center, and sent by United States mail to Box 4390, Houston, Texas 77210-4390, or by wire transfer to: 

JPMorgan Chase Bank, N.A. 
 910 Travis 
 Houston, Texas 77002 

SWIFT: CHASUS33 (for international wires only) 
 ABA ROUTING NO: 021000021 
 ACCOUNT NAME: Univ. of Texas M. D. Anderson Cancer
Center 
 ACCOUNT NO.: 1586838979 

  
 19 

 REFERENCE: include title and EFFECTIVE DATE of AGREEMENT and type of payment (e.g., license
documentation fee, milestone payment, royalty [including applicable patent/application identified by MDA reference number and patent number or application serial number], or annual maintenance fee, etc.). 

 

	4.6	No payments due or royalty rates owed under this AGREEMENT will be reduced as the result of co-ownership of LICENSED SUBJECT MATTER by BOARD and another party,
including, but not limited to, LICENSEE. 

 V. SPONSORED RESEARCH 

 

	5.1	If LICENSEE desires to sponsor research for or related to the LICENSED SUBJECT MATTER, and particularly where LICENSEE receives payments for sponsored research pursuant
to a sublicense under this AGREEMENT, LICENSEE (a) will notify UTMDACC in writing of all opportunities to conduct this sponsored research (including clinical trials, if applicable), (b) will solicit research and/or clinical proposals from
UTMDACC for this purpose, and (c) will give good faith consideration to funding the proposals at UTMDACC. 

VI. PATENTS AND INVENTIONS 
  

	6.1	 If after consultation with LICENSEE both parties agree that a new patent application should be filed for LICENSED SUBJECT MATTER, UTMDACC will prepare
and file appropriate patent applications, and LICENSEE will pay the cost of searching, preparing, filing, prosecuting and maintaining same. If LICENSEE notifies UTMDACC that it does not intend to pay the cost of filing, prosecuting or maintaining a
patent application or patent directed to the PATENT RIGHTS, or if LICENSEE fails to promptly confirm its intent to pay the cost of filing, prosecuting or maintaining a patent application or patent upon inquiry from UTMDACC, or if LICENSEE is in
arrears on any expense payments due under 

  
 20 

 
Section 4.1(a), then UTMDACC may take any action it deems appropriate with respect to such patent application or patent. By way of example, and not by way of limitation, UTMDACC may elect to
file, not file, continue prosecution or maintenance, or abandon such patent application or patent at its own expense without further notice to LICENSEE. In the event UTMDACC files or continues prosecution or maintenance of such patent application or
patent at UTMDACC’s expense, then LICENSEE’s rights to such invention under this AGREEMENT shall terminate in their entirety. UTMDACC will provide LICENSEE with a copy of any applications and substantive filings and correspondence with or
to a patent office with respect to any patent application or patent for which LICENSEE has paid and is continuing to pay PATENT EXPENSES in accordance with Section 4.1(a). UTMDACC will use reasonable efforts to provide copies of such
applications, substantive filings and correspondence to be sent to or filed with a patent office sufficiently in advance of submission so as to give LICENSEE a reasonable opportunity to comment thereon. BOARD and UTMDACC shall consider
LICENSEE’s comments in good faith, but shall not be required to implement them. The parties agree that they share a common legal interest to get valid enforceable patents and that LICENSEE will keep all privileged information received pursuant
to this Section confidential. 

  
 21 

 VII. INFRINGEMENT BY THIRD PARTIES 

 

	7.1	To the extent not prohibited by the Pre-Existing Agreements as defined in Section 7.3, below, LICENSEE, at its expense, shall have the first right to, but is not
obligated to, enforce any patent exclusively licensed hereunder against infringement by third parties in the LICENSED FIELD and is entitled to retain recovery from such enforcement. After reimbursement of LICENSEE’s reasonable legal costs and
expenses related to such recovery, LICENSEE agrees to pay UTMDACC either: (a) *** of any monetary recovery that is for lost sales due to the infringement and *** of any related enhanced, increased or punitive damages; or (b) *** of any
monetary recovery that is for reasonable royalties or lost profits and *** of any related enhanced, increased or punitive damages. LICENSEE must notify UTMDACC in writing of any potential infringement in the LICENSED FIELD within thirty
(30) calendar days of knowledge thereof. If LICENSEE does not file suit against a substantial infringer in the LICENSED FIELD within nine (9) months of knowledge thereof, then BOARD or UTMDACC may, at its sole discretion, enforce any
patent licensed hereunder on behalf of itself and LICENSEE, with UTMDACC retaining all recoveries from such enforcement, and/or reduce the license granted hereunder to non-exclusive. 

 

	7.2	In any suit or dispute involving an infringer, the parties agree to cooperate fully with each other, and, if applicable, with licensees in other fields of use. At the
request and expense of the party bringing suit, the other party will permit access during regular business hours, to all relevant personnel, records, papers, information, samples, specimens, and the like in its possession. 

  
 22 

	7.3	Notwithstanding any other provision herein to the contrary, LICENSEE understands that BOARD and UTMDACC have previously entered into license agreements with third
parties granting licenses to the PATENT RIGHTS and/or TECHNOLOGY RIGHTS in other fields of use outside of the LICENSED FIELD (“Pre-Existing Agreements”). These Pre-Existing Agreements contain language regarding the third parties’
rights and obligations in the event of infringement of the PATENT RIGHTS. To the extent the provisions of this ARTICLE VII conflict with these Pre-Existing Agreements, LICENSEE understands and agrees that the Pre-Existing Agreements shall control.

 VIII. PATENT MARKING 
  

	8.1	LICENSEE agrees that all packaging containing individual LICENSED PRODUCT(S), documentation therefor, and, when possible, actual LICENSED PRODUCT(S) sold by LICENSEE,
AFFILIATES, and/or sublicensees of LICENSEE will be permanently and legibly marked with the number of any applicable patent(s) licensed hereunder in accordance with each country’s patent laws, including Title 35, United States Code, to the
extent such marking is necessary or required to fully preserve PATENT RIGHTS in each such country. 

 IX.
INDEMNIFICATION AND INSURANCE 
  

	9.1	LICENSEE agrees to hold harmless and indemnify BOARD, SYSTEM, UTMDACC, their Regents, officers, employees (including inventors), students and agents from and against
any claims, demands, or causes of action whatsoever, costs of suit and reasonable attorney’s fees, including without limitation, those costs arising on account of any injury or death of persons or damage to property caused by, or arising out
of, or resulting from, the exercise or practice of the rights granted hereunder by LICENSEE, its officers, its AFFILIATES or their officers, employees, agents or representatives. 

  
 23 

	9.2	IN NO EVENT SHALL BOARD, SYSTEM OR UTMDACC BE LIABLE FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL, EXEMPLARY, OR PUNITIVE DAMAGES (INCLUDING, WITHOUT
LIMITATION, DAMAGES FOR LOSS OF PROFITS OR REVENUE) ARISING OUT OF OR IN CONNECTION WITH THE AGREEMENT OR ITS SUBJECT MATTER, REGARDLESS OF WHETHER ANY SUCH PARTY KNOWS OR SHOULD KNOW OF THE POSSIBILITY OF SUCH DAMAGES. OTHER THAN FOR CLAIMS AGAINST
LICENSEE FOR INDEMNIFICATION (SECTION 9.1) OR FOR MISUSE OR MISAPPROPRIATION OR INFRINGEMENT OF BOARD AND/OR UTMDACC’S INTELLECTUAL PROPERTY RIGHTS, LICENSEE WILL NOT BE LIABLE TO BOARD AND/OR UTMDACC FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL OR
PUNITIVE DAMAGES (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS OR REVENUE) ARISING OUT OF OR IN CONNECTION WITH THE AGREEMENT OR ITS SUBJECT MATTER, REGARDLESS OF WHETHER LICENSEE KNOWS OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH
DAMAGES. 

  
 24 

	9.3	Beginning at the time when any LICENSED SUBJECT MATTER is being distributed or sold (including for the purpose of obtaining regulatory approvals) by LICENSEE, an
AFFILIATE, or by a sublicensee, LICENSEE shall, at its sole cost and expense, procure and maintain commercial general liability insurance in amounts not less than $2,000,000 per incident and $2,000,000 annual aggregate, and LICENSEE shall use
reasonable efforts to have the BOARD, SYSTEM, UTMDACC, their Regents, officers, employees, students and agents named as additional insureds. Such commercial general liability insurance shall provide: (i) product liability coverage;
(ii) broad form contractual liability coverage for LICENSEE’s indemnification under this AGREEMENT; and (iii) coverage for litigation costs. The minimum amounts of insurance coverage required herein shall not be construed to create a
limit of LICENSEE’s liability with respect to its indemnification under this AGREEMENT. 

  

	9.4	LICENSEE shall provide UTMDACC with written evidence of such insurance within thirty (30) calendar days of its procurement. Additionally, LICENSEE shall provide
UTMDACC with written notice of at least fifteen (15) calendar days prior to the cancellation, non-renewal or material change in such insurance. 

  

	9.5	LICENSEE shall maintain such commercial general liability insurance beyond the expiration or termination of this AGREEMENT during: (i) the period that any LICENSED
SUBJECT MATTER developed pursuant to this AGREEMENT is being commercially distributed or sold by LICENSEE, an AFFILIATE or by a sublicensee or agent of LICENSEE; and (ii) the five (5) year period immediately after such period.

  
 25 

 X. USE OF BOARD AND UTMDACC’S NAME 

 

	10.1	LICENSEE will not use the name of (or the name of any employee of) UTMDACC, SYSTEM or BOARD in any advertising, promotional or sales literature, on its Web site, or for
the purpose of raising capital without the advance express written consent of BOARD secured through: 

 The
University of Texas 
 M. D. Anderson Cancer Center 
 Legal Services, Unit 0537 
 P.O. Box 301439 

Houston, TX 77230-1439 
 ATTENTION: *** 
 Email: *** 

Notwithstanding the above, LICENSEE may use the name of (or name of employee of) UTMDACC, SYSTEM or BOARD in routine business
correspondence, or as needed in appropriate regulatory submissions without express written consent. 
 XI. CONFIDENTIAL
INFORMATION AND PUBLICATION 
  

	11.1	UTMDACC, LICENSEE, and any AFFILIATE(s) to whom this AGREEMENT is extended in accordance with Section 3.2, each agree that all information contained in documents
marked “confidential” and forwarded to one by the other (i) are to be received in strict confidence, (ii) are to be used only for the purposes of this AGREEMENT, and (iii) will not be disclosed by the recipient party (except
as required by law or court order), its agents (which include counsel, consultants, accountants and financial advisors) or employees without the prior written consent of the disclosing party, except to the extent that the recipient party can
establish by competent written proof that such information: 

  

	 	(a)	was in the public domain at the time of disclosure; or 

  

	 	(b)	later became part of the public domain through no act or omission of the recipient party, its employees, agents, successors or assigns; or 

  
 26 

	 	(c)	was lawfully disclosed to the recipient party by a third party having the right to disclose it; or 

 

	 	(d)	was already known by the recipient party at the time of disclosure; or 

  

	 	(e)	was independently developed by the recipient party without use of the disclosing party’s confidential information; or 

 

	 	(f)	is required by law or regulation to be disclosed. 

  

	11.2	Each party’s obligation of confidence hereunder will be fulfilled by using at least the same degree of care with the disclosing party’s confidential
information as it uses to protect its own confidential information, but always at least a reasonable degree of care. This obligation will exist while this AGREEMENT is in force and for a period of three (3) years thereafter.

  

	11.3	To the extent authorized by the Constitution and laws of the State of Texas and subject to the statutory duties of the Texas Attorney General, the parties agree as
follows: If either party is required by law to disclose any confidential information of the other party, it will provide the other party with reasonable notice of such potential disclosure to afford the other party an opportunity to obtain a
protective order or other appropriate remedy. In any event, the party being required to make the disclosure will disclose only that portion of the confidential information which is legally required and will use best efforts to assure that
confidential treatment is afforded to any confidential information so disclosed. 

  
 27 

	11.4	UTMDACC reserves the right to publish the general scientific findings from research related to LICENSED SUBJECT MATTER, with due regard to the protection of
LICENSEE’s confidential information. UTMDACC will submit the manuscript of any proposed publication to LICENSEE at least thirty (30) calendar days before submission for publication, and LICENSEE shall have the right to review and comment
upon the publication in order to protect LICENSEE’s confidential information. Upon LICENSEE’s request, submission shall be delayed up to sixty (60) additional calendar days to enable LICENSEE to secure adequate intellectual property
protection of LICENSEE’s confidential information that would otherwise be affected by the publication. 

XII. ASSIGNMENT 
  

	12.1	Except in connection with the sale of substantially all of LICENSEE’s assets to a third party, this AGREEMENT may not be assigned by LICENSEE without the prior
written consent of UTMDACC, which will not be unreasonably withheld. For any assignment of this AGREEMENT to be effective: (a) the LICENSEE must timely pay UTMDACC the assignment consideration specified in Section 4.1(h); and
(b) the assignee must assume in writing (a copy of which writing will be provided to UTMDACC) all of LICENSEE’s interests, rights, duties, and obligations under the AGREEMENT and agree to comply with all terms and conditions of the
AGREEMENT as if the assignee were the original party (i.e., the LICENSEE) to the AGREEMENT. Notwithstanding the foregoing, LICENSEE may make a one-time assignment of this AGREEMENT (including any amendments thereto) to an AFFILIATE without prior
written consent of UTMDACC provided that all of the conditions set forth above in subpart (b) are satisfied. 

  
 28 

 XIII. TERM AND TERMINATION 

 

	13.1	Subject to Sections 13.3 and 13.4 hereinbelow, the term of this AGREEMENT is from the EFFECTIVE DATE to the full end of the term or terms for which a VALID CLAIM of the
PATENT RIGHTS exists, or if only TECHNOLOGY RIGHTS are licensed and no PATENT RIGHTS are applicable, for a term of fifteen (15) years from the EFFECTIVE DATE. 

 

	13.2	(a) Any time after three (3) years from the EFFECTIVE DATE, BOARD or UTMDACC have the right to terminate this license in any national political jurisdiction within
the LICENSED TERRITORY if LICENSEE, within ninety (90) calendar days after receiving written notice from UTMDACC of the intended termination, fails to provide written evidence satisfactory to UTMDACC that LICENSEE or its sublicensee(s) has
commercialized or is actively and effectively attempting to commercialize a licensed invention in such jurisdiction(s). The following definitions apply to Section 13.2: (a) “commercialized” means having SALES in such
jurisdiction; and (b) “actively and effectively attempting to commercialize” means having an effective, ongoing and active research, development, manufacturing, marketing or sales program as appropriate, directed toward obtaining
regulatory approval, and/or production and/or SALES in any jurisdiction, and has provided plans acceptable to UTMDACC, in its sole discretion, to commercialize licensed inventions in the jurisdiction(s) that UTMDACC intends to terminate.

  
 29 

 (b) In addition to the foregoing, UTMDACC shall have the right to terminate this AGREEMENT
if LICENSEE (directly, or indirectly through its AFFILIATES or sublicensees) fails to meet any of the following commercial diligence milestones (each, a “DILIGENCE MILESTONE”) with respect to the LICENSED SUBJECT MATTER: 

 

	 	(1)	Submission to UTMDACC of a protocol for a PHASE II CLINICAL STUDY for a LICENSED PRODUCT within two (2) years of approval of an IND; 

 

	 	(2)	Commencement of a PHASE II CLINICAL STUDY for a LICENSED PRODUCT within four (4) years of approval of an IND; and 

 

	 	(3)	Commencement of a PHASE III CLINICAL STUDY for a LICENSED PRODUCT within seven (7) years of approval of an IND. 

LICENSEE may extend any of the deadlines for meeting the DILIGENCE MILESTONES forth in this Section 13.2(b) above, upon written
notice to UTMDACC requesting an extension and full payment of the EXTENSION FEE, as defined below, prior to expiration of the applicable deadline. For purposes of this Section 13.2(b), the term “EXTENSION FEE” shall mean *** for the
first year extension. Thereafter, the EXTENSION FEE will double in price, i.e., *** shall be due for the second year extension, *** shall be due for the third year extension, *** shall be due for the fourth year extension, and so on. Upon payment of
each EXTENSION FEE with respect to any of the DILIGENCE MILESTONES, an additional year will be added to the time for completion of such DILIGENCE MILESTONE and all other as yet unmet DILIGENCE MILESTONES. It is understood and agreed that time is of
the essence with respect to payment of the EXTENSION FEE, and failure to timely pay an EXTENSION FEE shall not be subject to any cure period. 

  
 30 

 (c) In addition to the foregoing, UTMDACC shall have the right to terminate this AGREEMENT
with respect to any IMPROVEMENT added under Section 3.6, if LICENSEE fails to meet any of the following commercial diligence milestones with respect to that IMPROVEMENT (each, an “IMPROVEMENT MILESTONE”): 

 

	 	(1)	On or before the seventh anniversary of the EFFECTIVE DATE, LICENSEE will initiate a commercialization path for a LICENSED PRODUCT incorporating the IMPROVEMENT.
LICENSEE may satisfy this milestone by providing written evidence satisfactory to UTMDACC that LICENSEE or its sublicensee(s) has commercialized or is actively and effectively attempting to commercialize a LICENSED PRODUCT incorporating the
IMPRVOVEMENT; 

  

	 	(2)	On or before the tenth anniversary of the EFFECTIVE DATE, LICENSEE will submit an IND to the FDA for a LICENSED PRODUCT incorporating the IMPROVEMENT; and

  

	 	(3)	On or before the twelfth anniversary of the EFFECTIVE DATE, LICENSEE will Commence a PHASE I CLINICAL STUDY of a LICENSED PRODUCT incorporating the IMPROVEMENT.

  
 31 

 LICENSEE may extend any of the deadlines for meeting the IMPROVEMENT MILESTONES forth in
this Section 13.2(c) above, upon written notice to UTMDACC requesting an extension and full payment of the IMPROVEMENT EXTENSION FEE, as defined below, prior to expiration of the applicable deadline. For purposes of this Section 13.2(c),
the term “IMPROVEMENT EXTENSION FEE” shall mean *** for the first year extension. Thereafter, the IMPROVEMENT EXTENSION FEE will double in price, i.e, *** shall be due for the second year extension, *** shall be due for the third year
extension, *** shall be due for the fourth year extension, and so on. Upon payment of each IMPROVEMENT EXTENSION FEE with respect to any of the IMPROVEMENT MILESTONES, an additional year will be added to the time for completion of such IMPROVEMENT
MILESTONE and all other as yet unmet IMPROVEMENT MILESTONES. It is understood and agreed that time is of the essence with respect to payment of the IMPROVEMENT EXTENSION FEE, and failure to timely pay an IMPROVEMENT EXTENSION FEE shall not be
subject to any cure period. 
  

	13.3	Subject to any rights herein which survive termination, this AGREEMENT will earlier terminate in its entirety: 

 

	 	(a)	automatically, if LICENSEE files for bankruptcy or is declared bankrupt, and/or if LICENSEE is unable to pay its bills as they come due, and/or if the business of
LICENSEE shall be placed in the hands of a receiver, assignee, or trustee, whether by voluntary act of LICENSEE or otherwise; or 

  
 32 

	 	(b)	upon thirty (30) calendar days written notice from UTMDACC, if LICENSEE breaches or defaults on the payment or report obligations of ARTICLE IV (excluding the
license documentation fee specified in Section 4.1(b) for which no cure period applies), or use of name obligations of ARTICLE X, unless, before the end of the such thirty (30)-calendar day notice period, LICENSEE has cured the default or
breach to UTMDACC’s satisfaction, and so notifies UTMDACC, stating the manner of the cure; or 

  

	 	(c)	upon ninety (90) calendar days written notice from UTMDACC if LICENSEE breaches or defaults on any other obligation under this AGREEMENT, unless, before the end of
the such ninety (90) calendar-day notice period, LICENSEE has cured the default or breach to UTMDACC’s satisfaction and so notifies UTMDACC, stating the manner of the cure; or 

 

	 	(d)	at any time by mutual written agreement between LICENSEE and UTMDACC upon one hundred eighty (180) calendar days written notice to all parties and subject to any
terms herein which survive termination; or 

  

	 	(e)	if Section 13.2 or 15.9 is invoked; or 

  

	 	(f)	if LICENSEE has defaulted or been late on its payment obligations pursuant to the terms of this AGREEMENT on any three (3) occasions in a twelve (12) month
period; or 

  

	 	(g)	immediately, upon written notice from UTMDACC, if LICENSEE fails to timely pay the license documentation fee specified in Section 4.1(b). 

  
 33 

	13.4	Upon termination of this AGREEMENT: 

  

	 	(a)	nothing herein will be construed to release either party of any obligation maturing prior to the effective date of the termination; and 

 

	 	(b)	LICENSEE covenants and agrees to be bound by the provisions of ARTICLES IX (Indemnification and Insurance), X (Use of Board and UTMDACC’s Name) and XI
(Confidential Information and Publication) of this AGREEMENT; and 

  

	 	(c)	LICENSEE may, for a period of one year after the effective date of the termination, sell all LICENSED PRODUCTS and parts therefor that it has on hand at the date of
termination, if LICENSEE pays the earned royalty thereon and any other amounts due pursuant to ARTICLE IV of this AGREEMENT; and 

  

	 	(d)	Subject to Section 13.4(c), LICENSEE agrees to cease and desist any use and all SALE of the LICENSED SUBJECT MATTER and LICENSED PRODUCTS upon termination of this
AGREEMENT; and 

  

	 	(e)	LICENSEE grants to BOARD and UTMDACC a nonexclusive royalty bearing license with the right to sublicense others with respect to improvements made by LICENSEE (including
improvements licensed by LICENSEE from third parties) in the LICENSED SUBJECT MATTER. LICENSEE and UTMDACC agree to negotiate in good faith the royalty rate for the nonexclusive license. BOARD’s and UTMDACC’s right to sublicense others
hereunder is solely for the purpose of permitting others to develop and commercialize the entire technology package. 

  
 34 

 XIV. WARRANTY: SUPERIOR-RIGHTS 

 

	14.1	LICENSEE understands that the LICENSED SUBJECT MATTER may have been developed under a funding agreement with the Government of the United States of America
(“Government”) and, if so, that the Government may have certain rights relative thereto. This AGREEMENT is explicitly made subject to the Government’s rights under any such agreement and any applicable law or regulation. To the extent
that there is a conflict between any such agreement, applicable law or regulation and this AGREEMENT, the terms of such Government agreement, applicable law or regulation shall prevail. LICENSEE agrees that LICENSED PRODUCTS used or SOLD in the
United States will be manufactured substantially in the United States, unless a written waiver is obtained in advance from the GOVERNMENT. LICENSEE will promptly advise UTMDACC if such a written waiver is requested and/or obtained.

  

	14.2	Except for the rights, if any, of the Government of the United States of America as set forth above, to the knowledge of UTMDACC’s Office of Technology
Commercialization: (a) BOARD is the owner of the entire right, title, and interest in and to LICENSED SUBJECT MATTER; (b) BOARD has the sole right to grant licenses thereunder; and (c) BOARD has not knowingly granted licenses
thereunder to any other entity in the LICENSED FIELD that would restrict rights granted hereunder except as stated herein. 

  
 35 

	14.3	LICENSEE understands and agrees that, except as stated in Section 14,2, BOARD and UTMDACC, by this AGREEMENT, are licensing the LICENSED SUBJECT MATTER “as
is” in all respects. BOARD and UTMDACC, by this AGREEMENT, make no representation as to the validity and reproducibility of any data relating to the LICENSED SUBJECT MATTER, the scientific merit, operability or fitness for any use, safety,
efficacy, toxicity, approvability by regulatory authorities, time and cost of development, patentability, and/or breadth of the LICENSED SUBJECT MATTER. BOARD and UTMDACC, by this AGREEMENT, also make no representation as to whether any patent
covered by PATENT RIGHTS is valid or as to whether there are any patents now held, or which will be held, by others or by BOARD or UTMDACC in the LICENSED FIELD, nor do BOARD and UTMDACC make any representation that the inventions contained in
PATENT RIGHTS do not infringe any other patents or other intellectual property rights now held or that will be held by others or by BOARD. LICENSEE understands and agrees that the license granted herein is limited to BOARD’s rights only, and
that LICENSEE may have to obtain a license from third parties to practice the rights granted herein. 

  

	14.4	 LICENSEE, by execution hereof, acknowledges, covenants and agrees that LICENSEE has not been induced in any way by BOARD, SYSTEM, UTMDACC or employees
thereof to enter into this AGREEMENT, and further warrants and represents that (a) LICENSEE is entering into this AGREEMENT voluntarily; (b) LICENSEE has conducted its own due diligence (including its own scientific investigation) with
respect to all items and issues pertaining to this AGREEMENT; (c) LICENSEE is not relying on any statements or information provided by BOARD, UTMDACC or any inventor (or any employee, representative or agent of any of the foregoing) with
respect to the validity, 

  
 36 

	 	 
reproducibility, scientific merit or operability of the LICENSED SUBJECT MATTER; and (d) LICENSEE has adequate knowledge and expertise, or has used knowledgeable and expert consultants, to
adequately conduct its own due diligence, and agrees to accept all risks inherent herein. 

 XV. GENERAL

  

	15.1	This AGREEMENT constitutes the entire and only agreement between the parties for LICENSED SUBJECT MATTER and all other prior negotiations, representations, agreements
and understandings are superseded hereby. No agreements altering or supplementing the terms hereof will be made except by a written document signed by both parties. 

 

	15.2	Any notice required by this AGREEMENT must be given by prepaid, first class, certified mail, return receipt requested, and addressed in the case of UTMDACC to:

 The University of Texas M. D. Anderson Cancer Center 

Office of Technology Commercialization 
 7515 S. Main, Suite 490, Unit 0510 
 Houston, Texas 77030 

ATTENTION: Christopher C. Capelli, M.D. 
 or in the case of LICENSEE to: 
 Arrowhead Research Corporation 

201 South Lake Avenue 
 Suite 703 
 Pasadena, California 91101 

ATTENTION: Christopher Anzalone, CEO 
 or other addresses as may be given from time to time under the terms of this notice provision. 

  
 37 

	15.3	LICENSEE must comply with all applicable federal, state and local laws and regulations in connection with its activities pursuant to this AGREEMENT. LICENSEE
acknowledges that the LICENSED SUBJECT MATTER is subject to U. S. export control jurisdiction. LICENSEE agrees to comply with all applicable international and national laws that apply to the LICENSED SUBJECT MATTER, including U.S. Export
Administration Regulations, as well as end-user, end-use, and destination restrictions applied by the United States. 

  

	15.4	This AGREEMENT will be construed and enforced in accordance with the laws of the United States of America and of the State of Texas, without regard to its conflict of
law provisions. The Texas State Courts of Harris County, Texas (or, if there is exclusive federal jurisdiction, the United States District Court for the Southern District of Texas) shall have exclusive jurisdiction and venue over any dispute arising
out of this AGREEMENT, and LICENSEE consents to the jurisdiction and venue of such courts and hereby explicitly waives the rights to any other venue to which it might be entitled by cause of action, domicile or otherwise. Nothing in this AGREEMENT
shall be deemed as a waiver by BOARD, SYSTEM or UTMDACC of its sovereign immunity. 

  

	15.5	 Any dispute or controversy arising out of or relating to this AGREEMENT, its construction or its actual or alleged breach will be decided by mediation.
If the mediation does not result in a resolution of such dispute or controversy, it will be finally decided by an appropriate method of alternate dispute resolution, including without limitation, arbitration, conducted in the city of Houston, Harris
County, Texas, in accordance with the applicable, then-current procedures of the 

  
 38 

	 	 
American Arbitration Association. The arbitration panel will include members knowledgeable in the evaluation of the LICENSED SUBJECT MATTER. Judgment upon the award rendered may be entered in the
highest court or forum having jurisdiction, state or federal. The provisions of this Section 15.5 will not apply to decisions on the validity of patent claims or to any dispute or controversy as to which any treaty or law prohibits such
arbitration. The decision of the arbitration must be sanctioned by a court of law having jurisdiction to be binding upon and enforceable by the parties. 

 

	15.6	Failure of BOARD or UTMDACC to enforce a right under this AGREEMENT will not act as a waiver of right or the ability to later assert that right relative to the
particular situation involved. 

  

	15.7	Headings included herein are for convenience only and will not be used to construe this AGREEMENT. 

 

	15.8	If any part of this AGREEMENT is for any reason found to be unenforceable, all other parts nevertheless will remain enforceable. 

 

	15.9	 In the event that LICENSEE brings an action before any court, agency or tribunal seeking to invalidate or otherwise challenge the enforceability of or
BOARD’s ownership of any patent included in the PATENT RIGHTS, then UTMDACC may immediately terminate this AGREEMENT upon written notice to LICENSEE. Any dispute regarding the validity, enforceability or ownership of any patent included in the
PATENT RIGHTS shall be litigated in the courts located in Houston, Texas, and LICENSEE agrees not to challenge personal jurisdiction in that forum. To the extent that LICENSEE unsuccessfully

  
 39 

	 	 
challenges the validity or enforceability of any patent included in the PATENT RIGHTS, LICENSEE agrees to reimburse UTMDACC and BOARD for all costs and fees (including attorney’s fees) paid
by UTMDACC and BOARD in defending against such challenge. LICENSEE understands and agrees that, in the event LICENSEE successfully challenges the validity or enforceability of any patent included in the PATENT RIGHTS, all payments or other
consideration made or otherwise provided by LICENSEE to UTMDACC prior to a final, non-appealable adjudication of invalidity and/or unenforceability shall be non-refundable. The obligations of this Section shall survive the expiration or termination
of this AGREEMENT. 

  
 40 

 IN WITNESS WHEREOF, the parties hereto have caused their duly authorized representatives to execute
this AGREEMENT. 
  

									
	BOARD OF REGENTS OF THE
UNIVERSITY OF TEXAS SYSTEM	 		 	ARROWHEAD RESEARCH
CORPORATION
					
	By 	 	/s/ John Mendelsohn	 		 	By 	 	/s/ Christopher Anzalone
		 	John Mendelsohn, M.D.	 		 	Printed Name: Christopher Anzalone
		 	President	 		 	Title: President and CEO
		 	The University of Texas	 		 		 	
		 	M. D. Anderson Cancer Center	 		 		 	
			
	Date: December 14, 2010	 		 	Date: November 24, 2010

  

			
	THE UNIVERSITY OF TEXAS M. D. ANDERSON CANCER CENTER
		
	By 	 	/s/ Leon Leach
		 	Leon Leach
		 	Executive Vice President
		 	The University of Texas
		 	M. D. Anderson Cancer Center
	
	Date: December 14, 2010

  

			
	Approved as to Content:
		
	By 	 	/s/ Christopher C. Capelli
		 	Christopher C. Capelli, M.D.
		 	Vice President, Technology Based Ventures
		 	Office of Technology Commercialization
		 	M. D. Anderson Cancer Center
	
	Date: November 29, 2010

  
 41

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00184-of-00352.parquet"}]]