Document:

EX-10.12

 Exhibit 10.12 

[***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN
FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 

 

 CONFIDENTIAL 
  

					
	Xeris/Bachem	  	Quality Assurance Agreement	  	

 This Quality Assurance Agreement (the “Quality Assurance Agreement”) is made as of November 20,
2015 (“Effective Date”) between Bachem AG, an entity organized under the laws of Switzerland, with its principal place of business at Hauptstrasse 144, CH-4416 Bubendorf, Switzerland
(“Bachem”), and Xeris Pharmaceuticals, Inc. an entity organized under the laws of Texas with its principal place of business at 3208 Red River Street, Suite 300, Austin, TX 78705, USA (“Xeris”). 

PREAMBLE 
 WHEREAS,
Bachem is engaged in the business of manufacturing of active pharmaceutical ingredients (API) and has a broad proprietary know-how in the development of the manufacturing process for peptides including related
analytical methods as well as in the manufacturing of peptides: 
 WHEREAS, Xeris is a company engaged in research, development and
eventual commercialization and sate of medicinal products. 
 WHEREAS, the Parties now desire to set forth in this Quality Assurance
Agreement a plan, prepared by Xeris and Bachem, for determining the conformity of Product supplied by Bachem to Xeris under this Agreement to the Specifications (as defined below). 

NOW THEREFORE, in consideration of premises and mutual promises herein made, and in consideration of representations, warranties, and
covenants herein contained, Bachem and Xeris agree as follows: 
 ARTICLE 1 

PREAMBLE AND DEFINITIONS 

Section 1.1 Preamble. The preamble to this Quality Assurance Agreement forms an integral part hereof. 

Section 1.2 Definitions. Unless the context otherwise requires, the following terms as used in this Quality Assurance Agreement
shall have the following meaning: 
 “Annex” means an exhibit annexed lo and forming part of this Quality Assurance
Agreement. 
 “Competent Authorities” mean the FDA in the United States or any other applicable national,
supranational, federal, state or local regulatory agency or entity having the responsibility, jurisdiction, and authority to approve the clinical manufacture, use, importation, packaging, labeling, marketing, and sale of Product or Xeris’
Pharmaceutical Products in any country where Bachem has authorized Xeris to access Bachem’s DMF. 

  
 Page 1 of 18 

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

“Xeris’ Pharmaceutical Products” means Xeris’ pharmaceutical medications or formulations, including those in
any manner arising or resulting from the use of the Product in connection with the above medications. 
 “Certificate of
Analysis” means a certificate In writing for each batch of Product, signed by a Qualified Person or its deputy, that provides full analytical results of the batch of Product, a
TSE-Safely-Certificate and certifies (a) the conformity of the batch of Product to the Specifications and (b) that manufacturing and release records of the respective batch of Product were reviewed
by Bachem and manufacturing and release of the respective batch of Product is in accordance with all applicable cGMP requirements. All Product batches delivered to Xeris or its designee shall comply with provisions of this Quality Assurance
Agreement. 
 “Confidential Information” means, with respect to a Party, all information of a confidential nature
which may be disclosed by or on behalf of that Party to the other Party including, but not limited to, the Product Information and information relating to the disclosing Party’s business or scientific strategies, research, product development,
marketing, customers. Opportunities, finances, sales and pricing of products, processes, and all other written information clearly identified as “Confidential” when submitted by the disclosing Party to the receiving Party. 

“DMF” means Drug Master File maintained with the FDA or its equivalent maintained with a Competent Authority in any other
country mutually agreed between the Parties. 
 “GMP or cGMP” means the (a) current regulations for Good
Manufacturing Practice as outlined in the US Code of Federal Regulations and applicable FDA guidance documents as amended and (b) the ICH 07 guideline for the production and release of active substances and in EC Directive 2003/94/EC as amended
from time to time and transposed into the respective national laws at the member states of the European Union and the equivalent US (FDA) laws and regulations. 

“Latent Defect” means, with respect to Product, a hidden or latent defect not detected by the analytical test methods
in operation at the date of shipment to Xeris of the relevant Product by Bachem and which was not detected by Xeris during the initial Testing Period. 

“Manufacture” means the manufacture, processing, packing, or holding of a product including packaging and labelling
operations, testing, and quality control and QA release. 
 “Major Deviation” means a deviation with the potential
to have an impact on Product quality, safety, efficacy or stability. 
 “Minor Deviation” means any deviation that
will not have an impact on Product quality, safety, efficacy or stability. 
 “Major Change” means a change
that may adversely impact quality, safely, efficacy, stability, or regulatory compliance of the Product. Any change that will require regulatory authority approval is also defined as a Major Change. 

  
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 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

“Minor Change” means a change that will not have any adverse impact on Product quality, safely, efficacy,
stability, or regulatory compliance, and will not require authority approval. 
 “OOS” means out of specification and, with
respect to a Product or testing of a Product, means that the Product does not conform to the Specifications or the results of testing of the Product indicate non-conformance of the Product to the
Specifications. 
 “Party” or “Parties” shall mean Bachem or Xeris, Individually or collectively as
the context requires. 
 “Product” means synthetically manufactured human Glucagon as described in more detail in
the Specifications in Annex 1 of this Quality Assurance Agreements non-sterile active pharmaceutical ingredient(s) in bulk form, manufactured under GMP requirements. 

“Qualified Person” has the meaning ascribed to it in EC Directive 2003/94/EEC as amended or as m any other applicable
GMP regulation. 
 “Specifications” means the specifications for the Product, as more specifically described in
Annex 1 of this Quality Assurance Agreement. Annex 1 may be modified from time to time by written amendment to this Quality Assurance Agreement in accordance with Section 12.4. 

“Testing Period” means the time after Xeris’ receipt of any shipment of Product to subject such Shipment, on a
sample basis, to quality control testing to determine conformity with the relevant Specifications (including COAs and COCs), and whether or not a Product is free from defects in workmanship or materials, and manufactured according to cGMP. 

“TSE-Safety-Certificate” means a certificate certifying that a batch of the
Products) complies with or is outside the scope of monograph 5.2.8 of the European Pharmacopeia. 
 “USP” means current
United States Pharmacopeia official compendia of standards. 
 “EP” means current European Pharmacopoeia official compendia
of standards. 
 Section 1.3 Interpretation. Words denoting the singular include the plural and vice versa, words denoting a
gender include all genders, and words denoting persons include corporations and all other legal entities. 
 ARTICLE 2 

SUBJECT OF THIS QUALITY ASSURANCE AGREEMENT 

Section 2.1 The purpose of this Quality Assurance Agreement is to define and to establish the obligations and responsibilities of Bachem
and Xeris relating to the quality assurance requirements of the manufacture, release and supply of the Product pursuant to the Agreement by Bachem in accordance with GMP guidelines tor active pharmaceutical ingredients (APIs), namely the US Code of
Federal Regulation, Parts 11, 210, 211, applicable 

  
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 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

FDA guidance documents and ICH 07 GMP Guide for APIs as accepted and implemented by the national and international regulations of the European Community, the
United States of America, Japan and the member slates of the Pharmaceutical inspection Convention (PIC) scheme. 
 ARTICLE 3 

QUALITY ASSURANCE AGREEMENT CONTACT INFORMATION 

Section 3.1 Notices. Any notice, request, delivery, approval or consent required or permitted to be given under this
Quality Assurance Agreement shall be in writing and shall be deemed to have been sufficiently given if delivered in person, transmitted by telecopy with a confirming copy, by e-mail with a confirming copy,
sent by Overnight courier or registered mail to the Party to whom it is directed at its address shown in Section 3.02 and Section 3.03 or such other address as such Party shall have last given by notice 10 the other Party. 

Section 3.2 Notices to Bachem. Any notice to Bachem under this Quality Assurance Agreement shall be addressed to: 

Bachem AG, Hauptstrasse 144 
 4410
Bubendorf, Switzerland 
 [***] 

[***] 
 [***] 

[***] 
 Section 3.3
Notices to Xeris. Any notice to Xeris Shall be addressed to: 
 Xeris Pharmaceuticals Inc., 3208
Red River Street, Suite 300 
 Austin, TX 78705 

[***] 
 [***] 

[***] 
 ARTICLE 4 

THE PRODUCT 

Section 4.1 Product. The Product covered by this Quality Assurance Agreement, together with the related Specifications, is
listed in Annex 1. 
 ARTICLE 5 

SUPPLY AND MANUFACTURE 

Section 5.1 Premises and Subcontracting. Bachem will manufacture and release the Product at its Site in Bubendorf,
Switzerland. Bachem may subcontract quality control work provided that the respective contract laboratories have been qualified by Bachem. In case Bachem subcontracts any work. Bachem is solely responsible for the fulfillment of the obligations of
this Quality Assurance Agreement by its subcontractors Bachem agrees to only use qualified laboratory resources listed in Annex I Any modification to the approved contract laboratories list will require prior notice to Xeris. 

  
 Page 4 of 18 

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

Section 5.2 GMP Guidelines. The premises, equipment and systems used to manufacture and release the Product must be in
compliance with all applicable GMP requirements for APIs, including the principles detailed in the US Code of Federal Regulations, Parts 11, 210, 211, and ICH Q7 GMP Guide for APIs, as accepted and implemented by the national and international
regulations of the European Community, the United States of America, Japan and the member slates of the PIC scheme. 
 Section 5.3
Materials. Bachem shall be responsible for procuring all materials for manufacturing, release and supply of the Product. Bachem shall also be responsible for the specifications and the release of such materials. Upon Xeris’
request, Bachem shall provide access to such specifications and release documents for such materials to Xeris for review at Bachem’s Site in Bubendorf. 

Section 5.4 Manufacturing Batch Records. Bachem shall maintain the manufacturing process and method information in its own
formal in manufacturing batch records. COAs including a CoC in English shall be sent to Xeris in a PDF file or equivalent. 

Section 5.5 Manufacturing Process. Product must be manufactured, tested, released and packed in compliance with the
requirements of the provisions of this Quality Assurance Agreement and CGMPs. Any changes made to the established manufacturing process are subject to Bachem’s change control process as described in Article 7 of this Quality Assurance
Agreement hereunder. Xeris shall be notified in advance of any Major Changes associated with the manufacture and quality control of Product. 

Section 5.6 Facilities. Bachem shall manufacture the Product in facilities which are regularly monitored by Bachem to
demonstrate compliance with applicable cGMP guidelines and codes of practice for the type of production. 
 Section 5.7 Batch
Numbering. Bachem shall implement and use a unique batch numbering system for numbering each batch of Product. This number shall appear on all documents relating to the particular batch of Product. Bachem is responsible for maintaining an
associated lot genealogy, where the final lot number may be traced back to the intermediates and starting materials used in the specified batch. 

Section 5.8 Date of Manufacture. Bachem Shalt allocate the dale of manufacture as the dale when ail manufacturing work has
been completed and the batch is ready for release testing. Bachem shall ensure that stability and retest dates are aligned with Bachem’s assigned Date of Manufacture. 

Section 5.9 Re-Test Date. The re-test date
for Product shall be allocated based on the date of manufacture together with the retest period established by stability data generated using Product produced by the validated manufacturing process. 

Section 5.10 Rework and Reprocessing. Reprocessing and rework of Product is permitted with rework steps that have been
validated as part of the manufacturing process and in accordance with the provisions of the ICH Q7 guideline Bachem will notify Xeris prior to any reworking. 

  
 Page 5 of 18 

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

Section 5.11 Manufacturing and Equipment Data. Bachem shall be responsible for keeping records of equipment usage,
cleaning, raw material batch numbers and certification as well as in process results and parameters. Such documentation shall be retained by Bachem as described in Section 6.9 hereunder. 

Section 5.12 Training and Personnel. Bachem shall maintain a GMP compliant training program. Bachem will ensure and
document that employees have and maintain education, naming, and experience appropriate to their job duties. Bachem will not employ any person or GMP service provider listed in the DMF that has been debarred by any Competent Authorities or,
to Bachem’s knowledge, is currently under any investigation which could lead to such debarment. Bachem will provide upon request the required statement supporting the claim that none of the employees or service providers listed in the DMF have
been debarred or, to Bachem’s knowledge, are under investigation by any Competent Authorities. 
 Section 5.13 Drug Master
File. In mutually agreed countries, Bachem will maintain the Product DMF according to requirements defined by each local Competent Authority. Bachem will provide a letter to the specified Competent Authority at Xeris’ request in accordance
with Section 5.2 of the Agreement allowing such Competent Authority to review Bachem’s Product DMF relative to any Xeris submission. 

ARTICLE 6 
 QUALITY
ASSURANCE AND QUALITY CONTROL 
 Section 6.1 Sampling and Samples. Bachem shall ensure that representative samples of
Product are taken in accordance with GMP guidelines. Bachem will store API retention samples for all lots produced, sufficient to perform at least [***] full specification analyses, in containers that are equivalent to or more protective than the
commercial packaging in accordance with the applicable GMP guidelines API samples will be retained for a minimum of [***] as of batch release. These retain samples will not be specific to Xeris. Xeris shall retain sufficient samples of Product for
[***]. A quantity sufficient to perform [***] tests of Products shall be retained by Xeris. 
 Section 6.2 Testing of Raw
Materials. Bachem shall ensure that materials and packaging components used to manufacture the Product’s) are in compliance with the specifications as defined by Bachem and, if applicable, disclosed to Xeris for on-site review in Bubendorf. Reduced testing shall be permitted for vendors that have been formally qualified by Bachem and have a demonstrated history of meeting all test specifications, per an approved Bachem SOP.
In this case raw materials for use in the manufacture of the Product shall be tested at a minimum for identity on each shipment delivered. Bachem will store retention samples of all STARTING MATERIALS and IMTERMEDIATES used sufficient to perform at
least [***] full specification analyses and meaningful use tests, in containers that are equivalent to or more protective than the commercial packaging. In all cases, sample packaging and storage conditions shall maintain the physical and chemical
integrity of the sample. Samples are to be retained for [***]. However, there will be no retains (or compressed gasses and extremely hazardous materials. 

  
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 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

Section 6.3 In-Process Testing. Bachem shall be responsible for ensuring that all
required in-process testing is completed using suitable methods, when applicable, and documented. This will include environmental controls where required. Bachem shall also be responsible for defining
appropriate tests and criteria. 
 Section 6.4 Specifications. Bachem shall implement Specifications for the
Product as mutually agreed in this Quality Assurance Agreement. It will remain the responsibility of Xeris to ensure that the Specifications are appropriate for The intended use of Product. 

Section 6.5 Approval to ship the Product. Bachem shall be responsible for ensuring that the Product conforms to the Specifications
and has been made and tested in accordance with the manufacturing procedure and with all provisions or this Quality Assurance Agreement This will be carried out by Bachem’s Qualified Person or deputy before any shipment of Product to Xeris.

 Section 6.6 Certificate of Analysis. Bachem shall issue a Certificate of Analysis serving as a confirmation that The
Product has been manufactured and tested in accordance with the GMP requirements and with all provisions of this Quality Assurance Agreement The Certificate of Analysis will be signed by Bachem’s Qualified Person or deputy and provide full
analytical results for each batch. It will be supplied with each delivery of each batch of Product. 
 Section 6.7 Release of
Product for use by Xeris. Bachem shall release Products under their quality system ensuring compliance with applicable regulations Release documentation shall accompany a CoA / CoC as described in this document. Xeris shall be responsible
for release of the Products for further use. Xeris shall alto be responsible for ensuring that all further medicinal use of Product is in accordance with the relevant laws and regulations. 

Section 6.8 Documentation. Bachem shall create and maintain complete manufacturing and control documentation that is at
minimum comprised of (i) a completed batch production record including m-process controls; and (ii) a completed analytical batch record; and (iii) equipment charts and print-cuts, and
(iv) any documentation on investigations, deviations, OOS or failures as applicable (v) employee training files and records to support manufacturing (vi) cleaning, maintenance and validation records lo support manufacturing. 

Section 6.9 Document Retention. Bachem shall retain all documentation relevant to the manufacture and release of the Product
securely and for a minimum of [***]. The documentation will be available to Xeris and Competent Authorities for on-site review at Bachem in Bubendorf. 

Section 6.10 Retained Samples. Bachem Shall retain sufficient samples of Product for [***] years after batch release A quantity
sufficient to perform at least [***] shall be retained. Xeris Shall retain Product samples as described in Section 6.1 above. 

Section 6.11 Stability Studies. Bachem will run stability testing under ICH conditions according to the relevant Bachem’s
SOP. 

  
 Page 7 of 18 

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

Section 6.12 Rejection of Product by Xeris. Any problem likely to cause rejection (excluding Latent Defects as defined
above) of Product shall promptly be notified to Bachem after It Is identified and in any event within [***] of receipt of Products by Xeris. 

Section 6.13 Reference Standards. Bachem will use a fully qualified internal reference standard which is qualified
according to expectations of Competent Authorities and as detailed in current guidance documents which may be amended from time to time. Bachem and Xeris will collaborate to consider implementation of USP methods and reference standard when
appropriate and practical. 
 Section 6.14 Conflict Resolution of Analytical Issues. In the event that a dispute arises
between Bachem and Xeris in the analysis of the Product, the resolution shall conform with GMP rules on OOS results and shall proceed in stages. The first stage requires direct communication between analytical experts from the Parties to determine
that the methods of analysis are the same and are being executed in the same manner at both sites. In a second stage, carefully controlled and split samples shall be exchanged to attempt to reach agreement. Should there be a failure to achieve a
common set of results, analytical experts from the Parties shall be required to meet to work through the analysis of a mutually agreed sample, if these actions fail to achieve a common set of results a qualified, independent, third party referee
laboratory shall be used to achieve resolution. This laboratory shall be selected mutually by the Parties. The results from this referee laboratory shall be binding on both Parties. Whatever the outcome, Xeris retains the right to decide whether the
Product will be used to manufacture Xeris’s Pharmaceutical Product. Nothing in this Section 6.14 shall be construed to limit Bachem’s or Xeris’ rights. 

Section 6.15 Conflict Resolution in Quality Assurance Issues. In the event that a dispute arises between Bachem and Xeris
concerning the acceptability of a batch of Product, the resolution shall proceed in stages The first stage requires direct communication between The responsible quality assurance personnel from the Parties to determine the facts of the matter and to
produce an investigation report. This report shall contain complete details of the problem together with any discussion on the validity and weight to be applied to any results The investigation report shall be reviewed by the senior quality
personnel from the Parties and the Parties shall determine together the action to lake It these actions fail to achieve resolution, a qualified, independent external quality consultant shall be used to decide the appropriate action This consultant
shall be selected mutually by the Parties. The results from this consultant shall be binding on both Parties. Whatever the outcome, Xeris retains the right to decide whether the Product will be used to manufacture Xeris’s Pharmaceutical
Product. Nothing in this Section 6.15 shall be construed to limit Bachem’s or Xeris’s rights. 
 Section 6.16
Right to Audit. Bachem shall allow representatives of Xeris to have access to is manufacturing, warehousing and laboratory premises and to the associated records including inspection reports, Bachem responses and corrective actions
generated from the inspection by any Competent Authority, related to Product or Quality Systems if adversely impacting quality and supply of Product and redacted as necessary to preserve the confidential information of third parties, with prior
written reasonable notice for audit purposes. Xeris shall follow Bachem systems and procedures to ensure the safety, confidentiality and security of 

  
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 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

Bachem processes, facilities and personnel during any audit Responses to audit findings will be provided by Bachem within [***] of Bachem’s receipt of an
audit findings report from Xeris. Initial responses to critical observations that have the potential to impact safety, identity, strength purity or quality (SISPQ) of the Product will be provided to Xeris within [***]. 

Section 6.17 Audit Schedule. Without limiting Xeris’s rights, Bachem agrees to support Xeris audits according the following
schedule: 
  

	 	1.	[***] per year; 

  

	 	2.	[***] additional technical meeting associated with the NOA review as agreed between the parties; 

  

	 	3.	For cause audits may be conducted by Xeris with reasonable notice. 

 Section 6.18 Audit
of Competent Authorities. Bachem shall permit inspection by applicable Competent Authorities Bachem shall notify Xeris, in advance to the extent practical, of any inspections by a Competent Authority specifically related to the Product If
results of an unrelated inspection by a Competent Authority may impact Product. Bachem shall notify Xeris promptly, this includes unrelated inspectional findings that may impact the process, facilities, equipment, laboratories or personnel used to
manufacture, test and store Xeris Products. 
 Interactions with Competent Authorities. In the cases of responses to findings by
inspectors representing Competent Authorities, Bachem will meet mandatory response timelines and m the case where time is needed to provide a complete response. Bachem will notify the Competent Authority and work aggressively to ensure the complete
responses meet timelines specified by the Competent Authorities Bachem will provide Xeris with copies of all correspondence including corrective actions for those observations impacting Xeris products. In the case when DMF queries received by Bachem
from Competent Authorities are associated with third parties’ applications, Bachem will notify Xeris if the regulatory queries may impact Xeris’s Pharmaceutical Products and program timelines. In the case when queries or requested changes
from regulators may produce a conflict between Xeris’s Pharmaceutical Products and program(s) and Bachem’s’ changes relative to a third party’s application. Bachem will reasonably cooperate with Xeris in order to limit impact on
Xeris’s Pharmaceutical Products and programs. Xeris will also cooperate in good faith to support the intended change. 

Section 6.19 Latent Defects. Upon discovery that any batch, previously approved by Bachem and delivered to Xeris, fails to
conform to its Specifications or the regulatory dossier or has in any way been adulterated. Bachem shall promptly notify Xeris of such failure and of the nature thereof in detail, including supplying Xeris with all relevant investigation reports and
data. If Xeris notices any Latent Defects. Xeris shall inform Bachem in writing immediately, but no later than [***] alter their discovery and within [***] after receipt of the respective batch of Product. Xeris shall simultaneously send samples of
the alleged faulty Product to Bachem. Bachem shall investigate all such failures promptly, at its expense, and co-operate with Xeris in determining the cause for the failure and the corrective action required.

 Section 6.20 Product Complaints. Xeris shall be responsible for coordinating The investigation of any complaints about
the Xeris’ Pharmaceutical Product made from Product(s) and shall notify Bachem of any complaint which may be related to The quality of Product Bachem shall investigate and provide a rapid initial response and a report as soon as possible. 

  
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 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

Section 6.21 Product Recall. Xeris shall be responsible for instituting a medical product recall scheme for Xeris’
Pharmaceutical Product. Bachem will inform Xeris as soon as possible, but no later than [***] after Bachem becomes aware of such information. In case Xeris does not agree then Xeris releases Bachem from all consequent financial and liability
obligations. Xeris shall notify Bachem of any recall of Xeris’ Pharmaceutical Product, which may be due to manufacture, components or tests performed on Product(s) by Bachem. Bachem shall provide a rapid initial response and then a full report
as soon as possible The Parties shall cooperate on the response to the authorities. 
 ARTICLE 7 

DEVIATIONS AND INVESTIGATIONS 

Section 7.1 Deviations. (Major) Bachem shall ensure that any Major Deviation is carefully investigated, evaluated and
documented by quality assurance of Bachem Investigations shall include root cause determination and corrective actions, where applicable which must be reviewed and approved by Bachem’s quality assurance personnel Bachem will provide access to
alt documentation with respect to Major Deviations to Xeris on-site at Bachem’s facility. 

Section 7.2 Deviations. (Minor) Bachem shall ensure that any Minor Deviation is carefully evaluated and documented by
quality assurance of Bachem. In the case of Minor Deviations Bachem quality assurance and regulatory affairs will evaluate the acceptability regarding GMP, and the impact on conformity with regulatory submissions. Each investigation must give rise
to an explanation and for corrective action, which must be reviewed and approved by Bachem’s quality assurance personnel Bachem will ensure investigation closeout and corrective actions are completed prior to release of Product, if applicable
Bachem will provide access to all documentation with respect to Minor Deviations to Xeris on-site al Bachem’s facility. 

Section 7.3 OOS Results, and Failure Investigations. Bachem shall be responsible for investigating any OOS results that
occur with testing of the Product. According to Bachem’s OOS procedure, an initial tab error investigation will clarify whether the OOS result was caused by a lab error or by a batch failure. In case of a batch failure the Investigation will be
expanded at minimum to evaluate the cause of the failure and its impact on earlier and later production lots. Each investigation must give use to an explanation and/or corrective action which must be reviewed and approved by Bachem’s quality
assurance. OOS and failure investigations must be completed prior to Product release. 
 ARTICLE 8 

CHANGE CONTROL 

Section 8.1 Change Control. Bachem shall maintain a local Change control system that ensures compliance with GMP regulatory
submissions and with all provisions of this Quality Assurance Agreement. All changes will be evaluated by competent management personnel 

  
 Page 10 of 18 

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

regarding the technical implications Bachem’s quality assurance and regulatory affairs will evaluate the acceptability of the changes to Product
regarding GMPs, the impact on Product quality end stability as well as on conformity with regulatory submissions. Bachem will notify Xeris of any/all proposed Major Changes to the manufacturing process, quality controls, specifications, methods of
control, prior to initiation. 
 ARTICLE 9 

VALIDATION AND QUALIFICATION 

Section 9.1 Process Validation. Bachem will ensure that the manufacturing process used is fully validated, approved by
Bachem’s Quality Assurance and Regulatory Affairs groups and meets Competent Authorities requirements. Bachem will document the process validation, and at Xeris’ request, disclose such documentation to Xeris for on-site review at Bachem. 
 Section 9.2 Equipment Calibration. Bachem shall be responsible
for ensuring that manufacturing is carried out according to Competent Authorities requirements and ICH Q7 rules using calibrated equipment Bachem shall be solely responsible for the equipment calibration and equipment maintenance program including
record retention, recall bra lion, and preventive maintenance 
 Section 9.3 Cleaning Validation. Bachem shall be responsible
for ensuring that adequate cleaning is carried out between batches of different products to prevent cross contamination Bachem shall also be responsible for conducting cleaning verification or validation as appropriate (to ensure the integrity of
all products, including critical carry-over from similar batches). 
 Section 9.4 Facility and Utility Qualification (IQ, OQ,
PQ). Bachem Shall be responsible for The qualification and maintenance as appropriate of all relevant utilities, equipment, computer systems and facilities associated with the manufacture, storage or testing of Product according to Competent
Authorities requirements. 
 ARTICLE 10 

SPECIFIC RESPONSIBILITIES 

Without limiting each Party’s rights and obligations as otherwise set forth in this Quality Assurance Agreement, the following chart sets
forth each Party’s specific responsibilities in connection with quality assurance matters relating to the manufacture of Product: 
  

					
	 RESPONSIBILITY
	  	Bachem	 	Xeris
	 Manufacture
	  		 	—  
	 Manufacture of the API
	  	[***]	 	[***]
	 Development of manufacturing process for the API
	  	[***]	 	[***]
	 Manufacturing documentation for the API
	  	[***]	 	[***]
	 Ownership of manufacturing process and documentation for the API
	  	[***]	 	[***]

  
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REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 
  

									
	 RESPONSIBILITY
	  	Bachem	 	 	Xeris	 
			
	 Procurement of the API raw and starting materials
	  	 	[***]	 	 	 	[***]	 
			
	 Analytical, Laboratory, Sampling and Control
	  				 			
			
	 Retain and store samples of all materials and the API
	  	 	[***]	 	 	 	[***]	 
			
	 Sampling, analysis and release of materials for API
	  	 	[***]	 	 	 	[***]	 
			
	 In-process analyses for manufacture of the API
	  	 	[***]	 	 	 	[***]	 
			
	 Reference standards for laboratory analysis performed by Bachem
	  	 	[***]	 	 	 	[***]	 
			
	 Incoming material testing of the API upon receipt and keeping retained samples as required by
competent authorities
	  	 	[***]	 	 	 	[***]	 
			
	 Quality Assurance Activities for API
	  				 			
			
	 Batch numbering _
	  	 	[***]	 	 	 	[***]	 
			
	 Approval of master batch documents
	  	 	[***]	 	 	 	[***]	 
			
	 Preparation and review of the batch production, analytical and packaging records as well as of
associated documents
	  	 	[***]	 	 	 	[***]	 
			
	 Assurance of correct storage conditions for the API prior to shipment to Xeris
	  	 	[***]	 	 	 	[***]	 
			
	 Release of API to Xeris
	  	 	[***]	 	 	 	[***]	 
			
	 Release of API for Xeris’ Pharmaceutical Product manufacture
	  	 	[***]	 	 	 	[***]	 
			
	 Shipping documentation
	  	 	[***]	 	 	 	[***]	 
			
	 Material safety data sheet provision
	  	 	[***]	 	 	 	[***]	 
			
	 Maintain a change control system
	  	 	[***]	 	 	 	[***]	 
			
	 Provide API Specification as maintained in DMF
	  	 	[***]	 	 	 	[***]	 
			
	 Approve API Specifications and ensure that Specifications are appropriate for further use
	  	 	[***]	 	 	 	[***]	 
			
	 Change Control for Specifications (Bachem for technical feasibility, Xeris for further
use)
	  	 	[***]	 	 	 	[***]	 
			
	 Failure investigation in case of batch failure
	  	 	[***]	 	 	 	[***]	 
			
	 Regulatory Documentation for API
	  				 			
			
	 Scheduling and ordering the regulatory work documentation and submissions for API section of
Xeris’ Drug Products, as needed
	  	 	[***]	 	 	 	[***]	 
			
	 Submission and maintenance of DMF for API
	  	 	[***]	 	 			
			
	 Stability studies for The API
	  	 	[***]	 	 	 	[***]	 
			
	 NDA or MAA submission and maintenance (or Xeris1 Drug Products
	  	 	[***]	 	 	 	[***]	 
			
	 Hosting GMP Inspections for the API by the Competent Authorities
	  	 	[***]	 	 	 	[***]	 
			
	 Maintain site registration licenses
	  	 	[***]	 	 	 	[***]	 
			
	 Validation for API
	  				 			
			
	 Qualification of equipment for manufacturing and analysis
	  	 	[***]	 	 	 	[***]	 

  
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REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 
  

									
	 RESPONSIBILITY
	  	Bachem	 	 	Xeris	 
			
	 Cleaning validation and cleaning verification
	  	 	[***]	 	 	 	[***]	 
			
	 Validation of test methods
	  	 	[***]	 	 	 	[***]	 
			
	 validation of manufacturing process
	  	 	[***]	 	 	 	[***]	 
			
	 Validation of computerized systems
	  	 	[***]	 	 	 	[***]	 
			
	 Complaint Handling, Drug Safety
	  				 			
			
	 Review and resolution of Xeris’ Pharmaceutical Product quality complaints when applicable to
API
	  	 	[***]	 	 	 	[***]	 
			
	 Decisions regarding the notification of critical API quality issues to Swissmedic and
Xeris
	  	 	[***]	 	 	 	[***]	 
			
	 Decisions regarding recalls and field alerts of Xeris’ Pharmaceutical Product
	  	 	[***]	 	 	 	[***]	 

 ARTICLE 11 

CONFIDENTIALITY 

Section 11.1 Confidentiality Restriction of Use. The Confidential Information communicated by one Party to The other Party
under this Quality Assurance Agreement through written documents or by any other means or any pan thereof shall be kept in confidence by the receiving Party which agrees to use the Confidential Information solely for The purpose of implementing this
Quality Assurance Agreement. This confidentiality shall survive the termination of this Quality Assurance Agreement for [***] years 

ARTICLE 12 

MISCELLANEOUS 

Section 12.1 Review terms of QAA. Bachem and Xeris shall evaluate in good faith the validity of the provisions defined in this
Quality Assurance Agreement every [***] years (or sooner, to the extent required by applicable laws of the manufacturing site) starting at the Effective Date. 

Section 12.2 Governing Law, Dispute Resolution. Any dispute a using cut of or in connection with this Quality Assurance Agreement,
including any question regarding its existence, validity or termination, shall be referred lo and finally resolved by arbitration under the London Court of International Arbitration Rules, which Rules are deemed to be incorporated herein by
reference. The number of arbitrators shall be one. The seal, or legal place, of arbitration shall be London, England. The language to be used in the arbitral proceedings shall be English. The governing law of the contract shall be the substantive
law of Switzerland. 
 Section 12.3 Annexes. The Annexes referenced in this Quality Assurance Agreement are specifically made a
part hereto. 
 Section 12.4 Amendment. Any amendment or modification of this Quality Assurance Agreement must be in writing and
signed by authorized representatives of both Parties. 

  
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REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

Section 12.5 Prevailing Agreement. To the extent that there is a conflict between, or ambiguity relating to this Quality Assurance
Agreement and any other Agreement, the wording of this Quality Assurance Agreement shall govern any and all quality matters. 

Section 12.6 Language. This Quality Assurance Agreement is made in the English language. 

Section 12.7 Number of Copies. Two master copies exist, one with each of the Parties. 

Section 12.8 Term. This Quality Assurance Agreement shall commence as of the Effective Date and shall terminate [***] years after
shipment of the final Batch of Product. For clarity, this Quality Assurance Agreement shall be terminated automatically, if no shipments of the Product to Xeris have been made over a period of [***] consecutive years. Termination of this Quality
Assurance Agreement shall not relieve the Parties of any obligation accruing prior lo termination and shall not extinguish any antecedent breach of any provisions thereof, and such provisions of this Quality Assurance Agreement which, by their
terms, survive shall continue in full force and effect after such termination. 
 Section 12.9 Assignment. Neither of the
Parties shall assign or transfer this Quality Assurance Agreement or any of their respective rights or obligations hereunder without the prior written consent of the other Party, which shall not be unreasonably withheld or delayed, except that
either Party may assign this Agreement and The rights and obligations hereunder without the consent of the other Party to any person succeeding to all or substantially all of the business or assets of The Party relating to the Product 

  
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REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

IN WITNESS WHEREOF, the Parties have caused this Quality Assurance Agreement lo be duly executed by their authorized representatives on
the Effective Dale. 
 Bubendorf .Switzerland 
  

							
		 	 Bachem AG
	 		 	
				
	 By
	 	 /s/ Gerard Haas December 9, 2015
	 	By:	 	 /s/ Jan van Bebber December 9, 2015

		 	 Dr Gerhard Haas
	 		 	 Dr. Jan van Bebber

		 	 VP QAVRA
	 		 	 Director QA/RA

 Austin. TX USA 
  

			
	 Xeris Inc.

		
	 By
	 	 /s/ Yash Sabharwal November 20, 2015

		 	 Yash Sabharwal

		 	 Chief Operating Officer

		
	 By
	 	 /s/ Banir Ruano November 20, 2015

		 	 Banir Ruano

		 	 VP of Global Manufacturing & Tech Ops

		
	 By
	 	 /s/ Rebecca Waterbury December 2, 2015

		 	Rebecca Waterbury
		 	 VP of Quality

  
 Page 15 of 18 

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REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 
  

					
	Xeris / Bachem Quality Assurance Agreement	  	 ANNEX 1
  

SPECIFICATIONS
	  	Glucagon

 The Product shall be released against the following Specifications: 

  
 Page 16 of 18 

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REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 

Product: Glucagon, Pharma Grade Material 
 [***] 

[***] 

  
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REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED 
  

 CONFIDENTIAL 
  

					
	Xeris / Bachem Quality Assurance Agreement	  	 ANNEX 2
  

APPROVED CONTRACT LABORATORIES
	  	Glucagon

 Certain analytical services are provided (or Bachem AG by contract laboratories. Following please find the list of these
institutes / companies including their potential service(s). All listed subcontractors are appropriately Qualified by Bachem Alternatively to using a contract laboratory these tests may be performed in house at Bachem provided that the specific
technique is available. 
  

			
	 Contract laboratory
	  	 Description of typical service(s)

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

  
 Page 18 of 18 

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SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 

Amendment 1 to the 

Quality Assurance Agreement 
 This
Amendment 1 (the “Amendment 1”) is made as of October 31, 2016 (the “Effective Date”) by and between Bachem AG, an entity organized under the laws of Switzerland, with its principal place of business at
Hauptstrasse 144, CH-4416 Bubendorf, Switzerland (“Bachem”), and Xeris Pharmaceuticals, Inc., an entity organized under the laws of Texas, with its principal place of business at 3208 Red
River Street, Suite 300, Austin, TX 78705, USA (“Xeris”). 
 PREAMBLE 

WHEREAS, Bachem and Xeris have entered into a Quality Assurance Agreement between the Parties effective as of November 20, 2015
the “Quality Assurance Agreement”; 
 WHEREAS, Bachem and Xeris now mutually desire to amend, modify and restate certain
terms and conditions of the Quality Assurance Agreement. 
 NOW THEREFORE, the Parties hereto, intending to be legally bound, agree
as follows: 
  

	 	1.	Definitions 

 The capitalized terms used in this Amendment 1 shall have the meaning ascribed to
such terms in the Quality Assurance Agreement, unless otherwise stated. 
  

	 	2.	Amendments 

 The Parties agree that, as of the Effective Date, the Quality Assurance Agreement is
amended as set forth in this Section 2. 
 2.1 Section 3.3 (Notices to Xeris) of the Quality Assurance Agreement
shall be deleted in its entirety and replaced by the following: 
 Section 3.3 Notices to Xeris. Any notice to Xeris shall be addressed
to: 
 Xeris Pharmaceuticals, Inc., 3208 Red River Street, Suite 300 

Austin, TX 78705 
 [***] 

 

	 	3.	MISCELLANEOUS 

 3.1 The Parties agree that the provisions of this Amendment 1 shall be
applied with immediate effect. For the avoidance of doubt it is acknowledged that the provisions of this Amendment 1 shall be valid for future manufacturing and release of the Product. 

3.2 In the event of any conflict between the terms of this Amendment 1 and the terms of the Quality Assurance Agreement the terms of this
Amendment 1 shall prevail. 

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL
SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED 
  

 3.3 Except as expressly modified by this Amendment 1, the terms and provisions of the Quality
Assurance Agreement remain and shall remain in full force and effect. 
 IN WITNESS WHEREOF, the Parties have caused this Amendment 1
to the Quality Assurance Agreement to be duly executed by their authorized representatives on the Effective Date. 

Bubendorf, November 3, 2016 

Bachem AG 
  

							
	By:	 	 /s/ Gerard Haas
	 	By:	 	 /s/ Jan van Bebber

		 	Dr. Gerhard Haas	 		 	Dr. Jan van Bebber
		 	Vice President QA/RA	 		 	Director QA/RA

 Austin, TX USA, November 7, 2016 

Xeris Inc. 
  

			
	By:	 	 /s/ Benir Ruano

		 	Benir Ruano
		 	VP of Global Manufacturing & Tech Ops

  

			
	By:	 	 /s/ Leslie Osmera

		 	Leslie Osmera
		 	VP of QA

  
 2 

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SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED 
  

 Amendment 2 to the 

Quality Assurance Agreement 

This Amendment 2 (the “Amendment 2”) is made as of January 26, 2017 (the “Effective
Date”) by and between Bachem AG, an entity organized under the laws of Switzerland, with its principal place of business at Hauptstrasse 144, CH-4416 Bubendorf, Switzerland
(“Bachem”), and Xeris Pharmaceuticals, Inc., an entity organized under the laws of Texas, with its principal place of business at 3208 Red River Street, Suite 300, Austin, TX 78705, USA (“Xeris”). 

PREAMBLE 
 WHEREAS,
Bachem and Xeris have entered into a Quality Assurance Agreement between the Parties effective as of November 20, 2015, an amendment to the Quality Assurance Agreement dated October 31, 2016 (“Amendment 1”) collectively
comprising the “Quality Assurance Agreement”; 
 WHEREAS, Bachem and Xeris now mutually desire to amend, modify and
restate certain terms and conditions of the Quality Assurance Agreement. 
 NOW THEREFORE, the Parties hereto, intending to be
legally bound, agree as follows: 
  

	 	1.	DEFINITIONS 

 The capitalized terms used in this Amendment 2 shall have the meaning
ascribed to such terms in the Quality Assurance Agreement, unless otherwise stated. 
  

	 	2.	AMENDMENTS 

 The Parties agree that, as of the Effective Date, the Quality Assurance
Agreement is amended as set forth in this Section 2. 
 2.1 Exhibit A (Specifications) of the Quality Assurance Agreement shall be
deleted in its entirety and replaced by the following: 
 (The remainder of this page is intentionally left blank) 

  

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SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED 
  

					
	 Xeris / Bachem Quality
 Assurance
Agreement
	  	 ANNEX 1
  

SPECIFICATIONS
	 	Glucagon

 The Product shall be released against the following Specifications: 

[***] 
  

					
	 Tests
	 	 Specifications
	  	 Controls

	Appearance R	 	[***]	  	
	Appearance of solution R 	 	[***]	  	
	Identification (HPLC)	 	[***]	  	
	Identification (HPLC)1,2	 	[***]	  	
	Identification (amino acid analysis)	 	 [***]
 [***]

[***]
 [***]

[***]
 [***]

[***]
[***]
	  	
	Identification (MS)2	 	[***]	  	
	Specific optical rotation	 	[***]	  	
			
	Related substances (HPLC) R	 	[***]	  	
			
	Peptide content R
(elemental analysis)	 	[***]	  	
	Assay (HPLC) 1,2,R	 	[***]	  	
	Bioassay	 	[***]	  	
	Mass balance	 	[***]	  	
	Water content (Karl Fischer)R	 	[***]	  	
	Residue on ignition	 	[***]	  	
	Acetic acid content (HPLC)	 	[***]	  	
	Ammonium content (IC)	 	[***]	  	
	Chloride content (titration)	 	[***]	  	
	Residual organic solvents (GC)	 	[***]	  	

  
 2 

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		 	 [***]
	 	
			
	Nitrogen content R (elemental analysis)	 	[***]	 	
			
	Zinc content (ICP-OES)	 	[***]	 	
			
	Bacterial endotoxins (USP <85>)	 	[***]	 	
			
	Microbial limit test (USP <61>) Total aerobic microbial count (TAMC)	 	[***]	 	
			
	Total yeasts and moulds count (TYMC)	 	[***]	 	

  

	R 	performed for retest 

	1 	the analytical test method is based on the Glucagon monograph of [***] 

	2 	report separately as Additional Data 

 To be analyzed according to [***] 

Product: Glucagon, Pharma Grade Material 
 Bachem No.: [***]

 Peptide Sequence: [***] 
  

	 	3.	MISCELLANEOUS 

 3.1 The Parties agree that the provisions of this Amendment 2 shall be
applied with immediate effect. For the avoidance of doubt it is acknowledged that the provisions of this Amendment 2 shall be valid for future manufacturing and release of the Product. 

3.2 Both Parties acknowledge and Xeris agrees that there will be a Major Change to the existing Quality Assurance Agreement within the next
months (Change request letter dated February 22, 2016) and therefore the Agreement will be amended with the new Quality Standard reflecting such Change as soon as available. 

3.3 In the event of any conflict between the terms of this Amendment 2 and the terms of the Quality Assurance Agreement or the terms of the
Amendment 1, the terms of this Amendment 2 shall prevail. 
 3.4 Except as expressly modified by this Amendment 2, the terms and provisions
of the Quality Assurance Agreement and Amendment 1 remain and shall remain in full force and effect. 
 IN WITNESS WHEREOF, the Parties have
caused this Amendment 2 to the Quality Assurance Agreement to be duly executed by their authorized representatives on the Effective Date. 

  
 3 

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SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE 
 COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED 
  

 Bubendorf, February 8, 2017 

Bachem AG 
  

					
	 By:
	 	 /s/ Gerard Haas
	  	 /s/ Jan van Bebber

	Dr.	 	Gerhard Haas	  	Dr. Jan van Bebber
	 Vice President QA/RA
	  	Director QA/RA
		
	 Austin, TX USA, February 16, 2017
	  	
	 Xeris Inc.
	  	
			
	By:	 	 /s/ Benir Ruano
	  	 /s/ Leslie Osmera

	 Benir Ruano
	  	Leslie Osmera
	 VP of Global Manufacturing & Tech Ops
	  	VP of QA

  
 4EX-10.13

 Exhibit 10.13 

[***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

					
	  
 

	  	Document No:	  	MSA-Xeris
	  	Revision:	  	00
	  	Revision Date:	  	11/01/16
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 MASTER SERVICE AGREEMENT 

This Master Service Agreement (“Agreement”) is made and entered into as of November 1, 2016 (“Effective Date”) by and between: 

PYRAMID Laboratories Inc. (“PYRAMID”), a California Corporation, having its principal place of business at 3598 Cadillac Avenue, Costa Mesa, CA
92626 and Xeris Pharmaceuticals, Inc. (“XERIS”), located at 3208 Red River, Suite 300, Austin, TX 78705. 
 PURPOSE

 XERIS wishes to engage PYRAMID to perform the GMP manufacture of Product and PYRAMID wishes to provide such services to XERIS subject
to the terms and conditions of this Agreement: 
 AGREEMENT 
  

	1.	DEFINITIONS 

 1.1 “Affiliates” means any corporation, firm, partnership,
or other entity which directly or indirectly controls, is controlled by, or is under common control with XERIS. 
 1.2
“cGMP” means the current Good Manufacturing Practices for manufacturing finished pharmaceutical products as set forth in 21 CFR 210 and 211, the guidelines to GMP (under directive 2003/94/EC) as detailed in “The Rules Governing
Medicinal Products in the European Union”- Column IV Good Manufacturing Practice for Medicinal Products and in accordance with the Quality Responsibilities detailed in the relevant EC Directive or any foreign equivalent specified in the
applicable Work Order, 
 1.3 “cGMP Grade” means Product that has been produced and manufactured in accordance with the
Specifications and Regulatory Standards. 
 1.4 “Product” means the intermediates, formulations, or finished products to be
tested and/or manufactured by PYRAMID under any Work Order. 
 1.6 “Proposal” is defined as the offer PYRAMID submits to
XERIS for the proposed manufacture of Product by PYRAMID. Once it is signed and authorized by XERIS, it will be the “Work Order”, which is defined in Section 3. 

1.7 “Quality Agreement” is defined in Section 8. 

  
  

3598 Cadillac Avenue ● Costa Mesa, CA 92626 ● 714-435-9800 ● 714-435-9585 (Fax)

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

					
	  
 

	  	Document No:	  	MSA-Xeris
	  	Revision:	  	00
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 1.8 “Regulatory Standards” means requirements of the United States FDA (Food
and Drug Administration) or foreign equivalent requirements for PYRAMID’S facility, cGMP and all other regulations applicable to PYRAMID, PYRAMID’S facility, and PYRAMID’S manufacture, storage, packaging, labeling, testing, control,
and shipment of Product. 
 1.9 “Services” is defined in Section 2. 

1.10 “Specifications” means (a) for any Product, the manufacturing, handling, and storage specifications set out in the
Work Order or otherwise specified by XERIS in writing; and (b) any standard operating procedures or guidelines for the manufacture of Product provided to PYRAMID by XERIS in writing. 

1.11 “Work Order” is defined in Section 3. 

1.12 “XERIS Materials” means any raw materials, active pharmaceutical ingredient(s), or components supplied to PYRAMID by
XERIS for testing and/or the manufacture of Products under any Work Order. 
  

	2.	SCOPE OF AGREEMENT 

 Under this Agreement XERIS may request PYRAMID to perform
cGMP manufacture, fill and finish, and/or testing of Product from time to time (“Services”). 
  

	3.	WORK ORDERS 

 The Services detailed in an executed signed Proposal to be performed by
PYRAMID under this Agreement, will be considered Work Orders (“Work Orders”), and will be subject to the terms and conditions of this Agreement. In the event of any conflict between the terms of any Work Order and the terms of this
Agreement, the terms of this Agreement will take precedence over any Work Order. 
  

	4.	MANUFACTURE AND SUPPLY 

 PYRAMID will manufacture the Products in strict accordance with
the Specifications and the Regulatory Standards. PYRAMID will supply cGMP Grade Product to XERIS in the quantities, on the schedule, and at the price stated in the Work Order. PYRAMID will store all starting materials and in-process products in accordance with cGMP. 

  
  

3598 Cadillac Avenue ● Costa Mesa, CA 92626 ● 714-435-9800 ● 714-435-9585 (Fax)

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

					
	  
 

	  	Document No:	  	MSA-Xeris
	  	Revision:	  	00
	  	Revision Date:	  	11/01/16
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 of 14

  
  

	5.	SHIPPING 

 PYRAMID will package, insure, and ship the Product in accordance with the
instructions stated in the Work Order and the applicable Specifications (i.e., applicable batch record), at XERIS expense. 
  

	6.	PAYMENT 

 6.1 PYRAMID requires [***] ([***]%) down payment upon receipt of a signed Work
Order (for development, manufacturing, and analytical), with the exception of stability studies, in order to initiate any project phase. The final balance including all consumables will be due [***] after submittal of the corresponding production
records and/or project related documents, reports, etc., as applicable. Product will be available thereafter for delivery at XERIS’ request. All late payments shall bear interest at a rate of [***] ([***]%) per month, if not prohibited
by law, otherwise at the highest lawful contract rate. PYRAMID shall not initiate any phase of the Work Order unless PYRAMID receives a signed Work Order and down payment from XERIS to proceed with such phase. 

6.2 XERIS will pay PYRAMID for the Services as stated in the Work Order. XERIS shall be responsible for payment of freight,
insurance, customs duties, and related charges for delivery of packaged Products to XERIS, unless otherwise specified in the Work Order. 

6.3 Except as otherwise provided in the applicable Work Order, XERIS will pay toPYRAMID any federal, state, and local sales taxes, if
applicable, based on or measured by thesale or use of packaged Products, exclusive of any taxes based on PYRAMID’S income. 
 6.4
Unless otherwise stated in the applicable Work Order, PYRAMID will invoice XERIS on completion of the Work Order and XERIS will pay any and all undisputed invoices within [***] of its receipt by XERIS. All invoices must
reference XERIS Work Order number and must be sent to the address specified in the applicable Work Order. 
 6.5 PYRAMID shall
arrange for hazardous waste disposal, if any, at XERIS expense after written notification and authorization. 
 6.6 Executed Work
Orders must be received by PYRAMID within [***] of the mutually agreed scheduled commencement date for manufacture of Product in order to reserve the necessary Research & Development resources and/or manufacturing time, and XERIS
will endeavor to provide any required XERIS Materials according to the timelines mutually agreed by the parties under such Work Order. 
  

  
  

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 6.7 Cancellation or Rescheduling 

 

	 	6.7.1	Cancellation or rescheduling of a manufacturing event by XERIS within: 

  

	 	6.7.1.1	Greater than [***] of the scheduled event will incur no charge. 

  

	 	6.7.1.2	Less than or equal to [***] of the scheduled event will incur a charge of [***] ([***]%) of the total project cost plus pre-production costs (labor and materials for processed
components) specifically for XERIS per Process Lot. 

  

	 	6.7.1.3	Less than or equal to [***] of the scheduled event will incur a charge of [***] ([***]%) of the total project cost plus pre-production costs (labor and materials for processed
components) specifically for XERIS per Process Lot. 

  

	 	6.7.1.4	Less than or equal to [***] of manufacturing of the scheduled event will incur a charge of [***] ([***]%) of the total project cost plus pre-production costs (labor and materials
for processed components) specifically for XERIS per Process Lot. 

  

	 	6.7.1.5	Less than or equal to [***] of manufacturing of the scheduled event will incur a charge of [***] ([***]%) of the total project cost. 

 

	 	6.7.2	In the event of cancellation of any initiated stability study, a [***] ($[***]) fee will be applied for the reconciliation and close out of the stability study. 

 

	 	6.7.3	It is recognized that all or part of any formulation development and/or analytical development Services may be terminated upon notification from XERIS. It is PYRAMID’S policy to assess a fee for studies terminated
after the initiation of its Work Order. The fee will be prorated based upon the stage of completion of the Phase, and in any event PYRAMID will only be paid for Services completed up to the effective date of such termination, 

6.8 In the event of default in the payment of Services rendered or expenses incurred by PYRAMID for XERIS, pursuant to this Agreement, XERIS
shall be responsible for all collection fees and reasonable expenses incurred by PYRAMID, including attorney’s fees. 
  

	7.	XERIS MATERIALS AND PRODUCT 

 7.1 XERIS Materials will remain XERIS’ property
at all times and will only be used by PYRAMID for the purposes of manufacturing Product under the relevant Work Order. 

  
  

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 7.2 PYRAMID will store and maintain XERIS Materials in accordance with the terms of the
applicable Work Order and in such a way that they are clearly identifiable as XERIS property. 
 7.3 XERIS Materials will be insured by
XERIS against any damages that may occur during the storage at the premises of PYRAMID. PYRAMID will not be liable for destruction or deterioration of these materials unless destruction or deterioration is due to the negligence or willful
misconduct on the part of PYRAMID. 
 7.4 XERIS shall provide to PYRAMID the most current technical data relating to XERIS Materials
including, but not limited to, specifications, material data safety sheets together with pertinent environmental health and safety information necessary to assure safe handling and disposal of XERIS Materials by PYRAMID employees. 

 

	8.	QUALITY ASSURANCE 

 The parties will enter into a quality agreement (the “Quality
Agreement”). Any breach of the Quality Agreement will be deemed a breach of this Agreement. In the event of any conflict between the terms of the Quality Agreement and this Agreement, the terms of this Agreement will take precedence over the
Quality Agreement. The parties may mutually agree from time to time to update the Quality Agreement. 
  

	9.	REGULATORY INSPECTIONS 

 PYRAMID’S obligations to notify and cooperate with XERIS
regarding any audit or inspection by a competent regulatory authority with respect to the manufacture and/or testing of Products will be as set out in the Quality Agreement. All reasonable costs associated with PYRAMID’S compliance with any
official requests for information or documents relating to Services performed or goods provided by PYRAMID under the Work Order (including XERIS or regulatory authority audits) shall be paid by XERIS, unless any such audit is the
result of PYRAMID’S failure to comply with any Regulatory Standards, in which case PYRAMID will solely bear such costs. XERIS shall reimburse PYRAMID for all such reasonable costs including, but not limited to, hourly charge for persons
responding to requests, travel, lodging, meals, mileage, incidental expenses, reasonable attorney’s fees for preparation of any person called to testify, and associated fees and all other reasonable expenses associated with any such requests.

  

	10.	ON SITE REVIEW AND AUDIT 

 10.1 XERIS may conduct [***] of Quality Assurance Site
Compliance Audit each calendar year on a date mutually agreed upon by the parties. The Quality Assurance Audit will take such form as set out in the Quality Agreement and includes the right to inspect any facility

  
  

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being used by PYRAMID for the Services and to inspect all relevant records. Any additional audits will be charged at [***] ($[***]) per day. Qualified Person (QP) audits will be charged [***]
($[***]) per day. FDA Audits will be charged at [***] ($[***]) per day, to be limited to no more than [***] total. 
 10.2 PYRAMID will co-operate fully with XERIS during audits performed under this Section, including furnishing to XERIS copies of all requested documents. 

10.3 PYRAMID will provide to XERIS access to PYRAMID’S facilities during execution of the manufacturing Services under any WORK ORDER,
upon reasonable notice for the purpose of observing performance of the services, conducting a for-cause audit or investigation and providing technical assistance, where required. 

 

	11.	RECORDS 

 11.1 Unless stated otherwise in the Quality Agreement or the Specifications,
PYRAMID will, at its expense, store all testing and quality control records relating to a particular Work Order onsite for [***]; and for a period of [***] offsite following completion of the Work Order. At the end of the [***], XERIS will be
notified to determine whether the records may be destroyed, provided to XERIS, or continue to be stored at XERIS request or expense. 

11.2 PYRAMID will maintain, in accordance with Generally Accepted Accounting Principles and Practices, records reflecting the accuracy of
PYRAMID’S charges, including invoices for compensation, and other information as XERIS may reasonably require in connection with this Agreement (“Financial Records”). PYRAMID will preserve such Financial Records, without receipt of
additional compensation, for at least [***] years after the date of the final payment. 
  

	12.	REJECTION OF PRODUCT 

 12.1 XERIS will have the right to reject any Product that has not
been manufactured in compliance with the Quality Agreement, PYRAMID’S warranty in Section 16, or does not meet the established Specification, without invalidating the remainder of the relevant order. 

12.2 XERIS’ right of rejection will be exercised by delivery of written notice to PYRAMID in accordance with the procedures set out in
the Quality Agreement or Work Order. Any quantities of Product that are rejected pursuant to this section will be returned to PYRAMID at PYRAMID’S expense and either (a) will be promptly replaced by PYRAMID at PYRAMID’S sole
cost and expense if requested by XERIS not to exceed the paid amount or (b) PYRAMID will return the fees for that portion of the Services that is determined to be nonconforming or made of limited, nominal, or no value to XERIS
due to the said nonconforming portion. PYRAMID will be responsible for the replacement cost of any XERIS Materials rendered unusable by PYRAMID’S failure to comply with its warranty in Section 16. 

  
  

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 12.3 If PYRAMID disputes XERIS basis for rejecting Product, then the rejected Product will be
tested by an independent cGMP laboratory mutually agreed upon by the PARTIES. The independent laboratory’s determination will be final and binding on the parties. The cost of such testing will be borne by PYRAMID if the independent laboratory
confirms that the Product in question does not comply with PYRAMID’S warranty in Section 16. Otherwise the costs will be borne by XERIS. 
  

	13.	INTELLECTUAL PROPERTY 

 13.1 XERIS will retain ownership of any and all of XERIS’
Information and intellectual property in the Specifications, Product Formulation, Product Manufacturing Process, and XERIS Materials. Except for the limited purpose of performing its obligations under this Agreement, PYRAMID is not
granted any right, title, or interest in any intellectual property owned or controlled by XERIS. 
 13.2 All intellectual property
produced by PYRAMID in performance of Services, including formulation development, analytical testing, and/or the manufacture of Products under a Work Order will belong to XERIS. PYRAMID agrees to complete, at XERIS expense, but without
further compensation to PYRAMID, any documents necessary for XERIS to file patent applications and to prosecute patents with respect to such intellectual property in XERIS’ name or PYRAMID’S name, or both. PYRAMID will, if
deemed necessary or desirable by XERIS, on the same terms, execute an assignment of rights to XERIS with respect to such patent applications or patents. 
  

	14.	CONFIDENTIALITY 

 The parties agree that the Mutual Confidential Disclosure Agreement
dated August 26, 2014 entered into by the parties will govern any and all disclosures of confidential information between the parties under this Agreement. 
  

	15.	RELATIONSHIP WITH XERIS 

 15.1 PYRAMID is an independent contractor and PYRAMID
acknowledges that its personnel or employees are not employees of XERIS. Accordingly, neither PYRAMID nor its employees or personnel will (a) participate in XERIS employee benefit plans nor receive any other compensation beyond
that stated below, (b) have the power or authority to bind XERIS or to assume or create any obligation or responsibility, express or implied, on XERIS part or in XERIS, except as otherwise set forth in this
Agreement, or (c) represent to any person or entity that PYRAMID, its personnel or any employee of PYRAMID has such power or authority. 

  
  

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PYRAMID will remain solely liable for all aspects of the employment of such persons including, without limitation, recruitment, hiring, firing, training, promotion, compensation, all payroll
taxes and other deductions and all premiums or payments made for worker’s compensation coverage, unemployment benefits, or any other payments required by law to be made by employers for or on behalf of employees. 

15.2 PYRAMID represents and warrants that it and its personnel and employees are authorized to perform the Services and that neither it nor
its personnel or employees will act in violation of any applicable immigration laws or regulations. PYRAMID will indemnify XERIS against any and all claims, fines, penalties, and/or attorney’s fees incurred by XERIS for breach by
PYRAMID of any immigration laws or regulations and of this warranty. 
  

	16.	PYRAMID WARRANTIES 

 PYRAMID represents, warrants and covenants that: 

(a) all Product supplied to XERIS under this Agreement will be of cGMP Grade; 

(b) it is a corporation duly organized and existing in good standing under the laws of the state of its incorporation; 

(c) it has the right and authority to enter into and perform its obligations under this Agreement; 

(d) it will perform all of its obligations under this Agreement in accordance with all applicable governmental laws, rules, and regulations;

 (e) it and its employees, affiliates, and agents have never been debarred or convicted of a crime for which a person can be debarred
(i) under Section 306(a) or (b) of the Generic Drug Enforcement Act of 1992 or (ii) for the award of United States of America Federal contracts; and 

(f) none of PYRAMID’S employees, affiliates, or agents, according to PYRAMID’S best knowledge after due inquiry, has ever been
threatened to be debarred or indicted for a crime or otherwise engaged in conduct for which a person can be debarred, (i) under Section 306(a) or (b) or (ii) for the award of United States of America Federal contracts.
PYRAMID agrees that it will promptly notify XERIS upon learning of any such debarment, conviction, threat, or indictment; and 
 (g)
the foregoing warranty is made to XERIS only and is not transferable to any agents or assigns of XERIS except in accordance with Section 24.1. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THESE TERMS AND CONDITIONS, PYRAMID

  
  

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MAKES NO REPRESENTATION AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 

 

	17.	XERIS WARRANTIES 

 XERIS represents warrants and covenants that: 

(a) it is a corporation duly organized and existing in good standing under the laws of the state of its incorporation; 

(b) XERIS Materials and PYRAMID’S use of the processes or procedures described in the Specifications will not infringe the
intellectual property rights of third parties; 
 (c) it has the right and authority to enter into and perform its obligations under this
Agreement; and 
 (d) it will perform all of its obligations under this Agreement in accordance with all applicable governmental laws,
rules, and regulations. 
  

	18.	INDEMNIFICATION BY PYRAMID 

 18.1 PYRAMID will defend, indemnify, and hold harmless
XERIS and its Affiliates, and its or their officers, directors, shareholders, employees, agents, and representatives from and against any and all liability, damage, loss, cost, or expense (including reasonable attorney’s fees, costs, and
amounts paid in settlement) (collectively, “Losses”) resulting from any third party claim made or suit brought against XERIS or any such persons arising out of (a) PYRAMID’S breach of any of its representations,
warranties, or covenants in Section 16; or (b) the use by XERIS of any Product supplied by PYRAMID under this Agreement that does not comply with its applicable Specifications. 

18.2 Upon receipt of notice of any such claim or suit, XERIS will promptly notify PYRAMID thereof and will permit PYRAMID, at its cost,
to handle and control such claim or suit. XERIS will have the right to participate in the defense of such claim or suit at its own expense. XERIS shall afford PYRAMID all reasonable assistance (at PYRAMID’S cost and expense), will
make no admission prejudicial to the defense of such claim or suit, and agrees not to compromise or settle such claim or demand without PYRAMID’S prior written consent. 

18.3 The foregoing indemnification obligation will not apply to any claim or suit to the extent it arises directly out of XERIS
negligence, willful misconduct, or breach of any term, representation, warranty, or covenant contained in this Agreement or is otherwise covered by XERIS’ indemnification obligations under Section 19 below. 

  
  

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	19.	INDEMNIFICATION BY XERIS 

 19.1 XERIS will defend, indemnify, and hold harmless
PYRAMID and its Affiliates, and its or their officers, directors, shareholders, employees, agents, and representatives from and against any and all liability, damage, loss, cost, or expense (including reasonable attorney’s fees, costs, and
amounts paid in settlement) (collectively, “Losses”) resulting from any third party claim made or suit brought against PYRAMID or any such persons arising out of (a) XERIS breach of any of its representations, warranties, or
covenants in Section 17; or (b) the use by XERIS of any Product supplied by PYRAMID under this Agreement that complies with its applicable Specifications. 

19.2 Upon receipt of notice of any such claim or suit, PYRAMID will promptly notify XERIS thereof and will permit XERIS, at its
cost, to handle and control such claim or suit. PYRAMID will have the right to participate in the defense of such claim or suit at its own expense. PYRAMID will afford XERIS all reasonable assistance (at XERIS cost and expense), will
make no admission prejudicial to the defense of such claim or suit, and agrees not to compromise or settle such claim or demand without XERIS’ prior written consent. 

19.3 The foregoing indemnification obligation will not apply to any claim or suit to the extent it arises directly out of PYRAMID’S
negligence, willful misconduct, or breach of any term, representation, warranty, or covenant contained in this Agreement or is otherwise covered by PYRAMID’S indemnification obligations under Section 18 above. 

 

	20.	INSURANCE 

 At all times commencing with the date of the signed Work Order, XERIS
shall maintain adequate product or general liability insurance as determined by insurance industry standards. At all times commencing with the date of a signed Work Order, PYRAMID shall carry insurance adequate to cover its interest or
liabilities hereunder including, but not limited to, worker’s compensation and general liability. 
  

	21.	LIMITATION OF LIABILITY 

 Both parties shall be limited to the amount paid under this
Agreement and shall not be liable under this Agreement, whether in tort, contract or otherwise, for any indirect, incidental, or consequential losses or any punitive or exemplary damages. 

 

	22.	PUBLICITY 

 22.1 No press releases or other statements in connection with this Agreement
intended for use in the public or private media shall be made by XERIS or PYRAMID without the prior written consent of the other party. If either party is required by law or governmental regulation to describe its relationship to the other,
it will promptly give the other party notice with a copy of any disclosure it proposes to make. 

  
  

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 22.2 In addition, PYRAMID will not use XERIS in connection with any products,
services, promotion, or advertising without XERIS prior written permission. 
  

	23.	TERM AND TERMINATION 

 23.1 This Agreement will end on completion of the Services under
the last Work Order placed within [***] from the Effective Date. 
 Either Party may terminate any Work Order or this Agreement without cause by giving
[***] notice to the other Party in writing. In addition to Section 6.6, if XERIS terminates this Agreement or any Work Order without cause, XERIS’ only obligation will be to pay PYRAMID for the Services completed under the
Agreement or the terminated Work Order, as the case may be, up to the date of termination, at the rates provided in the Work Order. All payments paid to PYRAMID in excess of those due to it under this Section will be returned to XERIS 

23.2 If either party breaches this Agreement, the other party may terminate this agreement if the breaching party does not cure the breach
within [***] of written notice of the same. Termination will be without prejudice to any rights that may have been accrued to either party before termination. 

23.3 On termination of this Agreement for any reason, PYRAMID will return, at XERIS expense, all XERIS Materials. In addition,
the parties will return to each all copies of the other party’s information except for one copy that may be retained for the sole purpose of determining continuing obligations under Section 14. 

 

	24.	GENERAL 

 24.1 Assignment; Subcontractors. PYRAMID will not transfer or assign its
rights or obligations under this Agreement, in whole or in part, without XERIS’ prior written permission. XERIS may assign its rights and obligations under this Agreement to any Affiliate without PYRAMID’S prior consent, but
must give PYRAMID written notice of such assignment within [***] following the assignment. PYRAMID may not utilize subcontractors to perform any part of the Services without prior written authorization by XERIS. 

24.2 Entire Agreement; Amendments. The provisions, terms, and conditions of this Agreement (including its schedules and any subsequent
Work Orders) constitute the entire agreement of the parties with regard to the subject matter of this Agreement and supersede any prior agreements whether oral or written. No waiver, modification, change, or amendment of any of the provisions of
this Agreement shall be valid unless in writing and signed by the party 

  
  

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against whom such claimed waiver, modification, change, or amendment is sought to be enforced. The terms of this Agreement shall supersede any subsequent schedules or Work Orders in the event of
inconsistencies with the terms of this Agreement. 
 24.3 Notices. All notices, requests, demands and other communications required
or permitted to be given hereunder will be in writing and will be deemed to have been given (a) when received, if delivered in person, or (b) when sent, if sent by facsimile with receipt confirmed, or (c) three (3)
business days following the mailing thereof, if mailed by certified first class mail, postage prepaid, return receipt requested, in any such case as follows: 
  

			
	 If to PYRAMID:
	  	 PYRAMID Laboratories, Inc.

		  	 3598 Cadillac Ave.

		  	 Costa Mesa, California 92626

		  	 Attn.: Medhat Gorgy

		  	 President & CEO

		
	 If to XERIS:
	  	 XERIS

		  	 Xeris Pharmaceuticals, Inc.

		  	 3208 Red River Road, Suite 300

		  	 Austin, TX 78705

		  	 Attn: Peter Knauer, VP of CMC

 24.4 Severability. If any term or provision of this Agreement is invalid or unenforceable, the
remainder of this Agreement shall be unaffected thereby and each remaining term or provision of this Agreement is valid and will be enforceable to the fullest extent permitted by law. 

24.5 Waiver. The failure of either party to insist upon strict observation or performance of any provision of this Agreement, or to
exercise any right or remedy shall not impair or waive any such right or remedy in the future. Every right and remedy given by this Agreement to the parties may be exercised from time to time as often as appropriate. All remedies, either under this
Agreement or by law or otherwise afforded, will be cumulative and not alternative. 
 24.6 Force Majeure. Neither party will be
liable nor deemed to be in default for any delay or failure in performance under this Agreement or other interruption of service or employment deemed resulting directly or indirectly from Acts of God, civil or military authority, acts of public
enemy, war, accident, fire, explosion, earthquake, flood, failure of transportation, strike, or other work interruption by either party’s employees or any similar or dissimilar cause beyond the reasonable control of either party. 

  
  

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 24.7 Binding Effect. This Agreement will be binding upon and will inure to the benefit
of XERIS and PYRAMID, their respective successors and permitted assigns. 
 24.8 Arbitration. Any dispute, controversy, or
claim arising out of or related to this Agreement, or the breach thereof, shall be settled by binding arbitration in accordance with the Commercial Rules of the American Arbitration Association, and judgment upon any arbitration award rendered
hereunder may be entered in any court having jurisdiction. Each party shall select one (1) neutral arbitrator from a list provided by the American Arbitration Association and those two arbitrators shall select a third arbitrator from the list-
The arbitration process shall take place in Orange County, California, or such other place as the parties may hereafter agree. The prevailing party shall have the costs for the arbitration, including attorney’s fees, paid by the non-prevailing party. 
 24.9 Governing Law. This Agreement is to be construed and determined under
the laws of the State of Delaware. 
 24.10 Headings. The headings of this Agreement are inserted merely for convenience and ease of
reference and will not affect or modify the meaning of any of the terms, covenants or conditions of this Agreement. 

  
  

3598 Cadillac Avenue ● Costa Mesa, CA 92626 ● 714-435-9800 ● 714-435-9585 (Fax)

 [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED 
  

					
	  
 

	  	Document No:	  	MSA-Xeris
	  	Revision:	  	00
	  	Revision Date:	  	11/01/16
	  	Replaces:	  	N/A
	  	Page:	  	
 14
 of 14

  
  

 IN WITNESS WHEREOF, the parties have executed this Agreement in duplicate originals by their duly
authorized representatives. 
  

									
	PYRAMID Laboratories Inc.	 		 	XERIS Pharmaceuticals, Inc.
					
	By:	 	 /s/ Medhat Gorgy
	 		 	By:	 	 /s/ Douglas R. Baum

	Name:	 	Medhat Gorgy	 		 	Name:	 	Douglas R. Baum
	Title:	 	President & CEO	 		 	Title:	 	President & CEO
					
	Date:	 	November 1, 2016	 		 	Date:	 	November 1, 2016

  
  

3598 Cadillac Avenue ● Costa Mesa, CA 92626 ● 714-435-9800 ● 714-435-9585 (Fax)

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