Document:

EX-10.11

 Exhibit 10.11 

Execution Copy 
 CERTAIN
IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT 
 IS BOTH (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE
COMPETITIVE HARM IF 
 PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED. 

AMENDMENT NO. 5 to 

RESEARCH, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT, 

DATED MAY 24, 2004, by and between VERTEX PHARMACEUTICALS INCORPORATED and CYSTIC 

FIBROSIS FOUNDATION THERAPEUTICS INCORPORATED 

This Amendment No. 5 (the “Fifth Amendment”) is made effective as of April 1, 2011 (the “Effective
Date”) by and between Vertex Pharmaceuticals Incorporated, a Massachusetts corporation with its principal offices at 130 Waverly Street, Cambridge, Massachusetts 02139-4242 (“Vertex”), and Cystic Fibrosis Foundation
Therapeutics Incorporated, a Delaware corporation with its principal offices at 6931 Arlington Road, Bethesda, Maryland 20814 (“CFFT”). 

This Fifth Amendment amends the Research, Development and Commercialization Agreement, dated May 24, 2004, by and between Vertex and CFFT
(the “Original Agreement”), as amended by Amendment No. 1 to the Original Agreement, dated January 6, 2006 (the “First Amendment”), Amendment No. 2 dated January 1, 2006 (the “Second
Amendment”), Amendment No. 3 dated November 20, 2006 (the “Third Amendment”), and Amendment No. 4 dated August 20, 2007 (the “Fourth Amendment”). Any reference herein to the
“Original Agreement, as amended”, refers to the Original Agreement and all amendments, excluding this Fifth Amendment, unless the context otherwise requires. Vertex and CFFT are referred to herein individually as a
“Party” and collectively as the “Parties.” 

 Background 

In 1998, CFFT made an award to Aurora Biosciences Corporation (“Aurora”) to conduct a feasibility study using high throughput
screening for cystic fibrosis targets. On May 19, 2000, CFFT selected and provided support for Aurora to conduct high throughput screening with respect to the cystic fibrosis transmembrane conductance regulator (“CFTR”) target
identified by CFFT. From that time until March 31, 2008 (the “Original Research Term”), Aurora, and then after its merger into Vertex, Vertex, conducted a research program with CFFT’s support aimed at identification and
design of “Potentiator” and “Corrector” compounds, both of which are directed as a principal mode of therapeutic action at modulation of the biological effect of CFTR in different ways and with different anticipated results. 

On May 24, 2004, the Parties executed the Original Agreement. The Original Agreement contemplated that during the course of the research
program, Vertex, with CFFT’s agreement, would select either the Potentiator or the Corrector approach as its Primary Program (as defined in the Original Agreement, as amended), to which a majority of resources under the research program would
be directed, and the other approach would be designated as an Alternative Program (as defined in the Original Agreement, as amended), to which the balance of resources would be directed. 

In 2005, with the concurrence of CFFT, Vertex selected the Potentiator approach as the Primary Program, and designated a certain Potentiator, VX-770, as a Development Candidate under the terms of the Original Agreement, as amended. On March 16, 2006, the Parties executed the Second Amendment, which provided for funding for the accelerated development
of Potentiator Compounds. On November 20, 2006, the Parties executed the Third Amendment, which allocated on-going CFFT funding to the Vertex Potentiator Back-up
Program. 
 To further the discovery of Corrector Compounds of significant potential value as therapeutics, on January 6, 2006, the
Parties executed the First Amendment, which provided, among other things, for continued funding for research relating to Corrector Compounds. On August 20, 2007, the Parties executed the Fourth Amendment, which
re-allocated certain of the Corrector Research Program funding in order to support accelerated preclinical development of the Corrector Development Candidate VX-809.
Upon termination of the Original Research Term, the Original Agreement, as amended, expired pursuant to Section 10.1, and certain provisions, set forth in Section 10.4 of the Original Agreement, as amended, survived. 

  
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 As of the date of this Fifth Amendment, Vertex is continuing the clinical development of the
Potentiator VX-770, the Corrector VX-809, and a combination regimen of both VX-770 and
VX-809. Vertex also is developing the Corrector VX-661, which was discovered during the Original Research Term, and intends to identify
VX-661 as a Development Candidate in accordance with Section 3.1 of the Original Agreement, as amended. VX-809 and VX-661,
together with any additional Correctors discovered by Vertex during the Original Research Term are referred to in this Fifth Amendment as “First Generation Correctors.” 

In furtherance of its charitable purpose to cure and/or mitigate the effects of cystic fibrosis, CFFT intends to provide the additional
funding specified in this Fifth Amendment for the research and development of Correctors for cystic fibrosis. This Fifth Amendment sets forth the Parties’ agreement with respect to such (a) additional funding from CFFT to support clinical
development of VX-661, (b) additional funding from CFFT for a new research term to conduct further research relating to discovery of additional Corrector Compounds, such newly-discovered compounds to be
referred to herein as “Second Generation Correctors,” and (c) clinical development of Second Generation Corrector(s), in accordance with the Original Agreement, as amended, together with this Fifth Amendment; and to amend the
Original Agreement, as amended, accordingly. 

  
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 Capitalized terms not otherwise defined in this Fifth Amendment shall have the meaning
ascribed to them in the Original Agreement, as amended. Terms used in this Fifth Amendment to refer to a Drug Product which is prepared from a specific Drug Product Candidate or Category of Drug Candidate, for example, Drug Product prepared from VX-770 or Second Generation Correctors, shall be referred to herein by identifying the Drug Product Candidate or category, such as VX-770 Drug Product or Second Generation
Corrector Drug Product. If specific provisions of this Fifth Amendment are inconsistent with specific provisions of the Original Agreement, as amended, the provisions of this Fifth Amendment, with respect to the subject matter of this Fifth
Amendment, shall control. Otherwise the Original Agreement, as amended, to the extent its provisions have survived the termination of the Original Research Term, shall continue to be applicable. 

Amendment 
 In
consideration of the mutual covenants set forth in this Fifth Amendment, and other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties agree as follows: 

Section 1. First Generation Corrector Development and Development Funding. 

1.1 VX-661 as Drug Product Candidate. The Parties agree that
VX-661 will be designated as a Development Candidate, and that Vertex has commenced a Development Program with respect thereto. The Corrector JDC in place for VX-809
development shall serve as the JDC for VX-661. 
 1.2 Development Plan. The Corrector JDC
shall review implementation of the overall development plan for VX-661. The development plan shall describe the proposed clinical trial activities, non-clinical
development activities, and supply and manufacturing activities for VX-661. Any change in the development plan for VX-661 will be reviewed [***]. 

  
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 1.3 Budget and Funding. Exhibit 1.3(a) contains a summary that sets forth
certain estimated costs of the proposed VX-661 development activities for the period through the completion of the [***]. CFFT agrees to fund up to [***]. The proposed activities and
budget[***] for the VX-661 development program may be revised by the Corrector JDC from time to time, provided that the amount of [***] to be reimbursed by CFFT shall not be increased without the
written consent of CFFT. 
 [***]. On the Effective Date CFFT shall pay Vertex [***] (of the total [***] to be funded)
[***]. For purposes of this Fifth Amendment, Vertex will provide CFFT with [***] reports within [***] (commencing with the second calendar quarter of 2011) showing expenses incurred and invoices received under the VX-661 development program during the quarter just ended against budgeted expenses for that quarter (which, for the second calendar quarter of 2011, shall include any expenses for activities undertaken during the
first calendar quarter of 2011 that were invoiced [***]). Payments due for [***] shall be made by CFFT to Vertex [***] within [***] following receipt by CFFT of an invoice for such
VX-661 External Development Costs accompanied by usual and customary documentation of such costs, including copies of Third Party invoices supporting such costs and evidence that the costs relate to the VX-661 development program. All payments shall be made without deduction for withholding or similar taxes in United States dollars to the credit of such bank account as may be designated in writing to CFFT. Any
payments that fall due on a date that is a legal holiday in The Commonwealth of Massachusetts may be made on the next following day that is not a legal holiday in The Commonwealth. 

  
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 If the development program for VX-661 is
discontinued or the VX-661 External Development Costs incurred to advance VX-661 through completion of the [***] are less than [***], CFFT agrees, subject
to termination rights by CFFT in accordance with this Fifth Amendment, that any funds remaining from the original [***] funding commitment hereunder will be available to reimburse Vertex for the actual external development costs related to
continued development of First Generation Correctors, on the invoicing and payment terms set forth in this Section 1.3 as if it were with respect to VX-661 External Development Costs. 

At its sole discretion, CFFT shall have the right to terminate its funding obligation under this Section 1.3, effective upon written
notice provided to Vertex [***]. Upon any such funding termination: (a) CFFT shall be responsible to fund only those costs incurred for activities initiated by Vertex and for which Vertex has incurred
non-terminable obligations to a Third Party prior to the funding termination; (b) the royalty rates for Net Sales of VX-661 Drug Product and VX-809 Drug Product set forth in Section 5.3.1(b), [***], as illustrated by the examples set forth in Exhibit 1.3(c); and (c) Section 10.6 of the Original Agreement, as amended by this
Fifth Amendment, shall terminate and CFFT shall have none of the rights set forth in such Section 10.6. 
 Section 2. Second Generation
Corrector Research and Development Program Funding. 
 2.1 Research Plan and Program. Beginning on the Effective Date,
the “Research Program” will refer to research undertaken under the terms of this Fifth Amendment pursuant to the research plan for Second Generation Corrector Research (which shall be the “Research Plan” referred to
in Section 2.4 of the Original Agreement, as amended, and the research conducted under the Research Plan shall be the “Research Program” under the Original Agreement, as amended, and under this Fifth Amendment), an initial
version of which is attached hereto as Exhibit 2.1 (the “Second Generation Corrector Research Plan”). The “Research Term” shall begin on the Effective Date and end on the Research Termination Date (as defined
in this Fifth Amendment). 

  
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 2.2 Budget; Funding Obligation; Payments. The budget for the Research Program
[***] (as defined in this Fifth Amendment) is attached hereto as Exhibit 2.2(a) (as revised during the term of the Research Program, the “Second Generation Corrector Research Budget”). CFFT agrees to fund up to
[***] of the costs of the Research Program for Second Generation Correctors as set forth herein and in the Second Generation Corrector Research Budget, including Vertex internal costs and external costs, for research and development
activities, which for purposes of this Fifth Amendment, shall include all research and development activities undertaken with respect to a Second Generation Corrector or Correctors from [***]. 

For purposes of this Fifth Amendment, Vertex will provide CFFT with [***] reports within [***] (commencing with the second
calendar quarter of 2011) showing expenses incurred and invoices received under the Research Program during the quarter just ended against budgeted expenses for that quarter. The first such report shall be due after completion of the second calendar
quarter of 2011, and will cover the period from [***] through the end of that quarter. 
 Payments due under the Second Generation
Corrector Research Budget on account of internal FTEs shall be made by CFFT [***]. Internal FTE costs will be calculated at an annual rate of $[***] per FTE. On the Effective Date CFFT shall pay [***] (of the total [***]
to be funded), [***]. 

  
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 Payments due on account of external costs of the Research Program shall be made by CFFT to
Vertex [***] within [***] days following receipt by CFFT of an invoice for such external costs accompanied by usual and customary documentation of such costs, including copies of Third Party invoices supporting such costs and evidence
that the costs relate to the Research Program. For all non-United States Dollar expenditures, documentation of the currency conversion rate shall be provided. Each invoice shall also include a quarterly “true-up” of internal FTEs. Accounting and invoicing for expenditures for the Research Program shall be maintained and provided separately from those for the VX-661
development program. 
 On or before January 31 of each year during the Research Term, Vertex will provide CFFT with an accounting of
all internal FTE costs and external research costs (including documentary evidence of external FTEs and other costs, which shall include a yearly FTE true-up) incurred under the Research Program during the
most recently concluded calendar year. If CFFT’s funding for any reporting period is in excess of the amount set forth in the Second Generation Corrector Research Budget for that period, the excess amount will be carried over and applied as a
credit against CFFT’s required funding in future periods, subject to the limit of CFFT’s funding obligation set forth above. If CFFT’s funding for any reporting period is less than the amount set forth in the Second Generation
Corrector Research Budget for that period, the balance remaining will be carried over and added to the budgeted amount for the next reporting period. If there is any unexpended funding provided by CFFT at the termination of the Research Program, it
shall be promptly returned to CFFT. To the extent not inconsistent with the provisions of this Amendment, the provisions of Section 4.5 of the Original Agreement, as amended, will apply to the Research Program. 

  
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 CFFT agrees to fund up to [***] of external development costs for Second Generation
Correctors, as set forth in the estimated development budget in Exhibit 2.2(b), which for purposes of this Fifth Amendment shall include all costs and expenses invoiced by Third Parties, whether for goods or services, associated with the
development of a Second Generation Corrector or Correctors at any time after an IND is opened for such Second Generation Corrector or Correctors. Vertex will provide CFFT with [***] reports within [***] showing external expenses
incurred in development of Second Generation Corrector(s) during the quarter just ended against budgeted expenses for that quarter. Payments due for such expenses shall be made by CFFT to Vertex [***] within [***] days following
receipt by CFFT of an invoice for such expenses accompanied by usual and customary documentation of such costs. 
 For illustrative
purposes, Exhibit 2.2(c) shows the total combined costs to be funded by CFFT for (i) the Second Generation Corrector Research Program (as set forth in greater detail in Exhibit 2.2(a)) and (ii) the estimated external
development costs for the clinical development of Second Generation Correctors (as set forth in greater detail in Exhibit 2.2(b)). 

All payments made by CFFT under this Section 2.2 shall be made without deduction for withholding or similar taxes in United States
dollars to the credit of such bank account as may be designated in writing to CFFT. Any payments that fall due on a date that is a legal holiday in The Commonwealth of Massachusetts may be made on the next following day that is not a legal holiday
in The Commonwealth. 
 2.3 Conduct of Research. Vertex will dedicate a minimum average of [***] FTE scientists (on an
annualized basis) to the Research Program during its term[***]. 
 2.4 Termination of Research and/or Development Funding. The
Research Term shall end on [***], unless the Research Program is otherwise extended or terminated in accordance with this Fifth Amendment (the “Research Termination Date”). After the Research Termination Date, CFFT shall be
responsible to fund only those expenses that do not exceed the Second Generation Corrector Research Budget for activities initiated by Vertex prior to the Research Termination Date and for which Vertex has either incurred non-terminable obligations to a Third Party, or which require a minimal amount of time and/or resources to complete after the Research Termination Date. 

  
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 CFFT may in its sole discretion upon [***] notice provided any time after the first
anniversary of the Effective Date terminate its funding obligation for the Research Program. In addition, at its sole discretion, CFFT shall have the right to terminate its funding obligations for external development costs for Second Generation
Correctors [***]. Upon any such funding termination: (a) CFFT shall be responsible to fund those internal costs incurred for research activities, if any, initiated by Vertex prior to the termination and/or external costs for activities
initiated by Vertex and for which Vertex has incurred non-terminable obligations to a Third Party prior to the funding termination; (b) the royalty rates set forth in Sections 5.3.1(c)[***] shall
be reduced [***]; and (c) Section 10.6 of the Original Agreement, as amended by this Fifth Amendment, shall terminate and CFFT shall have none of the rights set forth in such Section 10.6. 

Section 3. Amendments to Royalty Rates. 

3.1 Royalty Rates. Section 5.3.1 of the Original Agreement, as amended, is deleted, and in its place the following shall be
inserted: 
 “5.3.1 Net Sales in the Field 

(a) Vertex shall pay to CFFT the following royalties on Net Sales 

[***]: 
  

	 	•	 	 [***] 

  

	 	•	 	 [***] 

  

	 	•	 	 [***]; 

[***]. 

  
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 (b) [***]: 

 

	 	•	 	 [***]  

  

	 	•	 	 [***]. 

[***]. 

(c) [***]: 
  

	 	•	 	 [***] 

  

	 	•	 	 [***]. 

[***]. 

3.2 Section 5.3.2 of the Original Agreement, as amended, is amended by designating the original language as subparagraph (a), and
adding the following as subparagraph (b): 
 (b) “Vertex also shall pay [***] in two equal installments, as set
forth below. [***] which would be payable in the following amounts, in each case within [***] after the [***] in which cumulative Net Sales of Drug Products containing VX-661 or VX-809 have reached the following levels: 
  

					
	 [***]
	  		  	 [***]

	 [***]
	  		  	 [***]

	 [***]
	  		  	 [***]

		  	 [***]
	  	[***]”

  
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 Section 4. Miscellaneous Provisions. 

Section 4.1 Interruption. Section 10.6 of the Original Agreement, as amended, shall be deleted in its entirety,
and the following substituted therefore: 
 10.6 Interruption. 

10.6.1 Definitions. For purposes of this Agreement, the terms defined in this Section 10.6.1 shall have the
following meanings: 
 10.6.1.1 “Ceased”, with respect to the development of a Development Candidate, will
mean that Vertex has ceased commercially reasonable development activity, in accordance with the standards of commercial reasonableness set forth in Section 3.1 of the Original Agreement, as amended, with respect to that Development Candidate
for a period of twelve consecutive months. 
 10.6.1.2 “Follow-on”
[***]. 
 10.6.1.3 “Lead” [***]. 

10.6.1.4 “Permitted Reason” shall mean, with respect to any Second Generation Corrector: 

(a) Vertex has not completed a clinical study of such Second Generation Corrector designed to establish so-called “proof-of-concept (“POC”), but either (i) Vertex obtained evidence that such compound is unlikely
to achieve Successful POC; or (ii) such compound failed to demonstrate Successful Pre-Clinical CFTR Correction Activity; or 

(b) Vertex completed clinical studies designed to establish POC for the compound and the compound failed to achieve Successful
POC. 
 10.6.1.5 “Successful Pre-Clinical CFTR Correction Activity”
shall mean, with respect to any compound, demonstration that the compound [***]; and (b) [***]. [***]. 

  
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 10.6.1.6 “Successful POC” shall mean demonstration by a
compound [***] of [***]. 
 10.6.1.7 “Vertex” for the purpose of this Section 10.6 only
shall mean Vertex or any of its Affiliates, licensees, sublicensees, assignees or partners. 
 10.6.2 Interruption;
License to CFFT. If, prior to commercialization by Vertex of a Second Generation Corrector, Vertex has ceased development with respect to all Correctors (first generation and second generation), there shall be deemed to be an
“Interruption.” In the event of an Interruption, the following license in favor of CFFT shall become effective: 

(a) if Vertex is not commercializing any First Generation Corrector at the time of the Interruption, then CFFT shall have an
irrevocable, exclusive worldwide license [***], with the right to sublicense, under the Vertex CF Technology, to develop, manufacture, have manufactured, use, sell, offer to sell and import those Compounds in the Field; or 

(b) if Vertex is commercializing a First Generation Corrector at the time of the Interruption, then CFFT shall have an
irrevocable, exclusive worldwide license [***], with the right to sublicense, under the Vertex CF Technology, to develop, manufacture, have manufactured, use, sell, offer to sell and import those Compounds in the Field; 

provided, however, the license under this Section 10.6.2(b) shall not encompass any Corrector for which Vertex ceased
Development for a Permitted Reason. 
 [***]. 

  
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 10.6.3. Termination of Interruption Rights. This Section 10.6
shall terminate, and CFFT shall have no further rights hereunder, immediately upon the First Commercial Sale of a Second Generation Corrector Drug Product, and as otherwise provided in this Fifth Amendment. 

Section 4.2 Termination upon Vertex
Change-in-Control. CFFT shall have the right, exercisable in its sole discretion, to terminate all of its funding obligations under this Fifth Amendment upon a Change-in-Control of Vertex, subject to CFFT’s obligations to fund previously committed amounts in accordance with the provisions of this Fifth Amendment. In the event of
any such termination prior to an Interruption (as defined above), the provisions of Section 10.6 shall be terminated and have no further force or effect. For purposes of this Section 4.2, a “Change-in-Control” shall mean that any “person” or “group,” as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934 (the
“Act”), becomes a beneficial owner, as such term is used in Rule 13d-3 promulgated under the Act, of securities of Vertex representing more than [***] of the combined voting power of
the outstanding securities of Vertex having the right to vote in the election of directors; or (b) all or substantially all the business or assets of Vertex are sold or disposed of, or Vertex or a subsidiary of Vertex combines with another
company pursuant to a merger, consolidation, or other similar transaction, other than (i) a transaction solely for the purpose of reincorporating Vertex or one of its subsidiaries in a different jurisdiction or
recapitalizing or reclassifying Vertex’s stock; or (ii) a merger or consolidation in which the shareholders of Vertex immediately prior to such merger or consolidation continue to own at least a majority of the outstanding voting
securities of Vertex or the surviving entity immediately after the merger or consolidation. 

  
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 Section 4.3 Publicity. The provisions of Section 6.3
of the Original Agreement shall apply to this Fifth Amendment as if it were being entered into as part of the Original Agreement, as amended. The Parties will agree on the timing and content of a press release relating to this Fifth Amendment. 

Section 4.4 Third Party Testing. 

Upon receipt of a Testing Request (as defined below) from CFFT, Vertex will supply to an Agreed Lab (as defined below) reasonably adequate
quantities of the Lead and/or the Follow-on (as such terms are defined in Section 10.6.1, as revised by this Fifth Amendment), as necessary to enable the Agreed Lab to conduct in vitro testing of the
efficacy and potency of either or both of such Compounds [***] (for purposes of this Section 4.4, the “Vertex Assay”). All such testing will be undertaken at the expense of CFFT in addition to any funding otherwise
provided hereunder. 
 An “Agreed Lab” is a commercial testing laboratory unaffiliated with either CFFT or Vertex and
reasonably acceptable to both, which (a) specializes in rendering services to the pharmaceutical industry and has nationally recognized expertise in the testing of pharmaceutical compounds; (b) has a superior reputation for integrity in
dealing with the proprietary information of others and would be free of any real or apparent conflict of interest in performing the services which are the subject of this Section 4.4; and (c) is bound by the terms of a confidentiality
agreement with Vertex which is customary in form and content, which covers the testing contemplated by this Section 4.4, and which permits the Agreed Lab to report directly to CFFT and Vertex the results which it obtains with respect to
efficacy and potency of the Lead and/or Follow-on. The Agreed Lab will adhere strictly to testing protocol approved by Vertex and shall be required to report all testing results directly to both CFFT and
Vertex. [***]. 

  
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 A “Testing Request” is a written request relating to the testing of either
the Lead or Follow-on, which is delivered by CFFT to Vertex within the [***] period beginning upon receipt by CFFT of notification from Vertex of its identification of such Compound as Development
Candidate. 
 Vertex and CFFT acknowledge that the use of a commercially available assay equivalent to the Vertex Assay for the testing of
the Lead and Follow-on may yield results which are less robust than the results obtained by use of the Vertex Assay. The Parties also acknowledge that the transfer of the Vertex Assay to an Agreed Lab may be
difficult, and the results less than satisfactory, without a commitment of substantial time and effort by Vertex which, if undertaken, may adversely impact the progress of the Research Program. Therefore, the parties agree that Vertex’s
responsibility for the testing provided under this Section 4.4 shall be limited as follows: (a) Vertex will cooperate with CFFT in the selection of an Agreed Lab , as may be requested by CFFT, and thereafter will assist in the
determination whether commercially available assays conducted by the Agreed Lab are likely to provide satisfactory results; (b) Vertex will provide the Agreed Lab with requisite amounts of each Compound, in connection with Testing Requests from
CFFT as provided above, out of any supplies which Vertex may have on hand; (c) Vertex will provide telephone consulting to appropriate representatives of the Agreed Lab concerning applicable assay methodology; (d) if the parties conclude
that conventional testing will not yield adequate results, and upon the written request of CFFT rendered with due regard to the [***] to establish an assay based on proprietary protocols from Vertex, Vertex will provide the Vertex Assay to
the Agreed Lab sufficiently in advance of any testing provided for in this Section 4.4 to accommodate such testing, under provisions of confidentiality, restricted access and non-use (for other than
testing hereunder), and will ensure that appropriate Vertex representatives are available by telephone from time to time to answer questions and otherwise assist the Agreed Lab representatives in their efforts to establish the Vertex Assay. Vertex
shall in no event be responsible for any failure by the Agreed Lab to establish an effective assay using Vertex’s protocols, nor shall any time periods provided herein for action by CFFT be extended by reason of any such failure. 

  
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 Section 5. Original Agreement Ratified; Certain Expired Provisions Reinstated. 

In all other respects, the Original Agreement, as amended, to the extent unexpired, is hereby ratified and confirmed. The following provisions,
which expired under the Original Agreement, as amended, as a result of the conclusion of the Original Research Term, are hereby reinstated effective on the Effective Date solely for the purposes and to the extent applicable to the subjects addressed
in this Fifth Amendment: 2.4.1, 2.6, 2.7, 2.8, 10.1, 10.4, and Article XIII, and all other provisions that have expired as of the Effective Date, whether set forth in the Original Agreement or any amendment to the Original Agreement, shall have no
force or effect as a result of the execution of this Fifth Amendment. 
 [Signature Page Follows] 

  
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 In witness whereof, the Parties hereto have executed this Agreement as of the day and
year first above written. 
  

									
	VERTEX PHARMACEUTICALS,	 		 	CYSTIC FIBROSIS FOUNDATION
	INCORPORATED	 		 	THERAPEUTICS, INCORPORATED
					
	By:	 	 /s/ Matthew W. Emmens
	 		 	By:	 	 /s/ Robert J. Beall

	Title:	 	Chairman, CEO & President	 		 	Title:	 	President & CEO
	Date:	 	April 4, 2011	 		 	Date:	 	April 4, 2011

  
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 Exhibit 1.3(a) 

[***] 

  
 19 

 Exhibit 1.3(b) 

[***] 

  
 20 

 Exhibit 1.3(c) 

[***] 

  
 21 

 Exhibit 2.1 

Second Generation Corrector Research Plan 

[***] 

  
 22 

 Exhibit 2.2(a) 

[***] 

  
 23 

 Exhibit 2.2(b) 

[***] 

  
 24 

 Exhibit 2.2(c) 

[***] 

  
 25 

 Exhibit 2.4 

[***] 

  
 26EX-10.12

 Exhibit 10.12 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT 

IS BOTH (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM IF 

PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED. 

Amendment No. 7 

Research, Development and Commercialization Agreement, 

Dated May 24, 2004 by and between 

Vertex Pharmaceuticals Incorporated 

And 
 Cystic Fibrosis
Foundation Therapeutics Incorporated 
 Whereas, Cystic Fibrosis Foundation Therapeutics Incorporated, a Delaware corporation
(“CFFT”), and Vertex Pharmaceuticals Incorporated, a Massachusetts corporation (“Vertex”), are parties to that certain Research, Development and Commercialization Agreement dated May 24, 2004, as previously
amended by Amendment No. 1 thereto dated January 6, 2006, Amendment No. 2 thereto dated as of January 1, 2006, Amendment No. 3 thereto dated November 20, 2006, Amendment No. 4 thereto dated August 20, 2007,
Amendment No. 5 thereto dated as of April 1, 2011, and Amendment No. 6 thereto dated March 29, 2012 (collectively, the “Agreement”). Capitalized terms used herein without specific definition shall have the
meanings set forth in the Agreement. 
 Whereas, CFFT and Vertex have been engaged in discussions relating to several aspects of the
Agreement, including (a) the appropriate means for allocating Net Sales of Combination Products among the components thereof for purposes of determining royalties under the Agreement, (b) the application of certain royalty provisions of
the Agreement to Net Sales of certain Drug Products, and (c) the rights and obligations of the parties with respect to certain chemical compounds that Vertex represented were first synthesized and/or tested after February 28, 2014. The
parties have reached agreement on the matters under discussion, and wish to memorialize such agreement pursuant to this Amendment No. 7 executed on October 13, 2016 (the “Execution Date”). 

Whereas, CFFT entered into an agreement with RPI Finance Trust (“RP”) pursuant to which it has assigned and transferred to RP
certain of its rights under the Agreement, including its right to receive certain royalty payments from Vertex under the Agreement. Solely for purposes of Sections 6, 8, 9, 10, 11, 12.1 and 13 of this Amendment No. 7, and as a material
inducement for Vertex to enter into this Amendment No. 7, RP is a signatory to this Amendment No. 7. 
 Whereas, nothing in this
Amendment No. 7. is intended to alter CFFT’s original charitable purpose for entering into the Agreement. 
 Whereas, in
connection with this Amendment No. 7, on or about the date hereof, the Cystic Fibrosis Foundation and Vertex are entering into a Data License Agreement. 

Now, therefore, in consideration of the mutual covenants set forth in this Amendment No. 7, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, effective as of September 1, 2016 (the “Amendment No. 7 Effective Date”), the parties agree as follows: 

 1.Definitions. 

1.1 Additional Definitions. The following defined terms shall be added to Section 1 of the Agreement in alphabetical order: 

(a) “Additional Compound” means each chemical compound listed on Exhibit 2016-A and [***]. Vertex represents that each such
compound was first synthesized and/or tested by or under the direction of Vertex on or after March 1, 2014 and on or prior to August 31, 2016 (the “Additional Term”) in connection with Vertex’s research and
development of Correctors for the treatment of cystic fibrosis. A list of the Additional Compounds (other than [***]) is set forth in Exhibit 2016-A. Each such compound is listed by its VRT number, a
designation given to each unique chemical structure by Vertex. Any compound first synthesized and/or tested by Vertex after the Additional Term that is assigned its own VRT number consistent with Vertex’s historical practices, including any
such compound derived from any Additional Compound, shall not be an Additional Compound for purposes of this Agreement unless such compound is [***] of a compound set forth in Exhibit 2016-A. 

(b) “Additional Product” means a pharmaceutical product or formulation comprising, in whole or in part, an Additional
Compound. For clarity, in no event will an Additional Product be deemed to be a Drug Product. 
 (c) “Corrector” means any
compound which as its principal mode of therapeutic action, modulates the biological effect of CFTR by increasing the amount of functional del508 CFTR present at the apical cell membrane. 

(d) “CF Spend” means, with respect to a given period, the aggregate (i) [***] (ii) [***] in each case incurred by [***]during
such period in connection with [***], including, without limitation, [***]. 
 (e) “FTE Rate” means [***]; provided
that such rate will increase or decrease on [***]. The FTE Rate includes (i) all wages and salaries, employee benefits, bonus, travel and entertainment, supplies and other direct expenses and (ii) indirect allocations, including all
general and administrative expenses, human resources, finance, occupancy and depreciation. 
 (f) A [***] of an Additional Compound shall
mean a compound that (A) is [***]such Additional Compound as evidenced by [***], and (B) at [***], such Additional Compound represents in [***] of the compound and its [***]. 

1.2 Net Sales. Section 1.25 of the Agreement is deleted in its entirety and replaced with the following: 

1.25 “Net Sales” with respect to any Drug Product or Additional Product shall mean the gross amount invoiced by Vertex and any
Vertex Affiliate, licensee, sublicensee, assignee or transferee for that Drug Product or Additional Product sold in bona fide, arms-length transactions to Third Parties for use in the Field, less (i) quantity and/or cash discounts from the
gross invoice price which are actually allowed or taken; (ii) freight, postage and insurance included in the invoice price; (iii) amounts repaid or credited by reasons of rejections or return of goods or because of retroactive price
reductions specifically identifiable to the Drug Product or Additional Product; (iv) amounts payable resulting from government (or agency thereof) mandated rebate programs; (v) third-party rebates to the extent actually allowed;
(vi) invoiced customs duties and sales taxes 

 
(excluding income, value-added and similar taxes), if any, actually paid and directly related to the sale that are not reimbursed by the buyer; and (vii) any other specifically identifiable
amounts included in the Drug Product’s or Additional Product’s gross invoice price that should be credited for reasons substantially equivalent to those listed above; all as determined in accordance with Vertex’s usual and customary
accounting methods, which are in accordance with generally accepted accounting principles. 
 1.25.1 In the case of any sale or other
disposal of a Drug Product or Additional Product between or among Vertex and its Affiliates, licensees, sublicensees, assignees or transferees for resale, Net Sales shall be calculated as above only on the value charged or invoiced on the first arm’s-length sale thereafter to a Third Party; 
 1.25.2 In the case of any sale which is not invoiced
or is delivered before invoice, Net Sales shall be calculated at the time of shipment or when the Drug Product or Additional Product is paid for, if paid for before shipment or invoice; 

1.25.3 In the case of any sale or other disposal for value, such as barter or counter-trade, of any Drug Product or Additional Product, or part
thereof, other than in an arm’s length transaction exclusively for money, Net Sales shall be calculated as above on the value of [***] or the [***] of the Drug Product or Additional Product in the country of sale or disposal; 

1.25.4. If the Drug Product or Additional Product is sold in finished dosage form with one or more other active pharmaceutical ingredients
(“Combination Product”), which may include Drug Product(s), Additional Product(s) and other active pharmaceutical ingredients that are not Drug Product(s) or Additional Product(s) (each such other ingredient, a “Non-royalty Bearing Component”), the Net Sales of each Drug Product or Additional Product, for the purposes of determining royalty payments under this Agreement, shall be determined by multiplying the Net
Sales of the Combination Product by the fraction 1/n, where “n” is the total number of active ingredients (including the Drug Product(s), Additional Product(s) and Non-royalty Bearing Component(s))
in such Combination Product. For example, if a Combination Product consists of one Drug Product, one Additional Product and one Non-royalty Bearing Component, then Net Sales of the Combination Product shall be
allocated one-third to each of the three (3) active pharmaceutical ingredients in such Combination Product (i.e. 1/3rd to the Drug Product, 1/3rd to the Additional Product and 1/3rd to the Non-royalty Bearing Component). For the avoidance of doubt, no royalty will be paid to CFFT under this Agreement with respect to any portion of Net Sales allocated to a
Non-royalty Bearing Component as provided above. 
 2. Royalties. Section 5.3.1 of the
Agreement is deleted in its entirety and replaced with the following: 
 5.3.1 Net Sales in the Field. 

(a) Original Drug Products. Vertex shall pay to CFFT the following royalties on aggregate Net Sales of [***] Drug Product, First [***])
and Second Generation Corrector Drug Products (together, the “Original Drug Products”) in the Field: 
 (i) [***] Net Sales
of Original Drug Products in the Field that are [***]; 
 (ii) [***] Net Sales of Original Drug Products in the Field [***]. 

 The foregoing rates shall be effective as of [***]. All royalties payable on the Original
Drug Products for the period from [***] through [***] shall be payable in accordance with the methodology for calculating royalties on Original Drug Products contained in the royalty reports delivered by Vertex to CFFT for the first and second
calendar quarters of 2016. 
 (b) [Intentionally Omitted]. 

(c) [Intentionally Omitted]. 

(d) Additional Products. Vertex shall pay to CFFT the following royalties on Net Sales of Additional Products in the Field: 

 

	 	i.	 For Additional Products containing Additional Compounds first synthesized and/or tested by or under the
direction of Vertex during the period commencing on [***] and ending on and including [***]: [***] of annual Net Sales of such Additional Product in the Field; 

 

	 	ii.	 For Additional Products containing Additional Compounds first synthesized and/or tested by or under the
direction of Vertex during the period commencing on [***] and ending on and including [***]: [***] of annual Net Sales of such Additional Products in the Field; and 

 

	 	iii.	 For Additional Products containing Additional Compounds first synthesized and/or tested by or under the
direction of Vertex during the period commencing on [***] and ending on and including [***]: [***] of annual Net Sales of such Additional Products in the Field. 

(e) Royalties Payable Once. Royalties on Net Sales of any Drug Product and Additional Product will be payable only once and if there are
Drug Products and/or Additional Products in a Combination Product, royalties shall only be paid once for each Drug Product or Additional Product, as applicable, with respect to the portion of the Net Sales of the Combination Product that is
allocated to such Drug Product or Additional Product as provided in Section 1.25.4. 
 (f) Application of Royalty Provisions to
ORKAMBI Net Sales. For purposes of clarity, (1) ORKAMBI is a Combination Product consisting of two Original Drug Products, VX-770 Drug Product and VX-809 Drug
Product, and (2) accordingly, royalties on Net Sales of ORKAMBI shall be payable as follows: under the Combination Product principles set forth in Section 1.25.4, 1/n, where n=2, or fifty percent (50%) of Net Sales of ORKAMBI shall be
allocated to each of the VX-770 Drug Product and the VX-809 Drug Product. An illustrative example of the calculation of royalties on Net Sales of ORKAMBI and KALYDECO
(i.e., VX-770 Drug Product sold not as a Combination Product) is attached hereto as Exhibit 2016-B. 

(g) Additional Example. For purposes of clarity, if Vertex were to sell a Combination Product consisting of VX-770 Drug Product, an Additional Product described in Section 5.3.1(d)(i) and an Additional Product described in Section 5.3.1(d)(ii), royalties on Net Sales of such Combination Product shall be payable
as follows: under the Combination Product principles set forth in Section 1.25.4, one third (1/3) of Net Sales of such Combination Product shall be allocated to each of the VX-770 Drug Product and the
first and second Additional Products, and royalties on the portion of Net Sales allocated to the VX-770 Drug Product would be payable under Section 5.3.1(a), royalties on the portion of Net Sales
allocated to the Additional Product described in 

 
Section 5.3.1(d)(i) would be payable under Section 5.3.1(d)(i) and royalties on the portion of Net Sales allocated to the Additional Product described in Section 5.3.1(d)(ii) would
be payable under Section 5.3.1(d)(ii). An illustrative example of such calculation is attached hereto as Exhibit 2016-C. 

(h) Calendar Year. For the avoidance of doubt, each calculation of annual Net Sales shall be calculated on the basis of a calendar year
from January 1 of such calendar year through December 31 of such calendar year. 
 (i) Third Party Compounds. For purposes
of this Agreement, Compounds and Additional Compounds shall not include any chemical compound as to which rights are or were acquired by Vertex or any of its Affiliates from bona fide Third Party entities after [***], whether by merger,
acquisition of shares, asset acquisition, license or other means of conveyance whether or not Vertex or its Affiliates or any third party acting under Vertex’s or its Affiliate’s direction evaluated such compound prior to [***]. For
example, [***]. 
 (j) Reporting on Additional Product. The reporting and payment provisions set forth in Section 5.4 of the
Agreement shall apply to Additional Products (substituting “Additional Product” for “Drug Product” therein). 
 3.
Dispute Resolution. Section 12.2 of the Agreement is deleted in its entirety and replaced with the following: 
 12.2 Dispute
Resolution Process. 
 (a) In the event of any dispute, controversy or claim arising out of or relating to this Agreement, or the rights
and obligations of Vertex, CFFT and RP in relation thereto, Vertex, CFFT and RP, each on its own behalf and on behalf of its predecessors, successors, assigns, officers, directors, employees, trustees, parents, subsidiaries and Affiliates, shall,
before initiating any action under Section 12.2(b), refer the relevant dispute, controversy or claim to the Chief Executive Officers of Vertex, CFFT and (in the event RP has an interest in such dispute, controversy or claim) RP, who shall, as
soon as practicable, attempt in good faith to resolve the dispute, controversy or claim. If such dispute, controversy or claim is not resolved within [***] after the referral of the matter to the Chief Executive Officers, Vertex or CFFT (jointly
with RP, if applicable) may initiate proceedings pursuant to Section 12.2(b) below. 
 (b) (i) Any dispute, controversy or claim
arising out of or relating to this Agreement, or the breach thereof, shall be adjudicated by confidential arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules (including Procedures for
Large Complex Cases) and judgment on the award rendered by the arbitrators shall be final, not subject to appeal and may be entered in any court having jurisdiction thereof. The place of arbitration shall be New York, New York. 

(ii) Claims shall be heard by a panel of three arbitrators. Each party shall select (or, if RP is a party to such claim, CFFT and RP shall
jointly select) one arbitrator and shall provide notice of such selection with its initial pleading. The two arbitrators selected by the parties (and RP, if applicable) shall select a third arbitrator within thirty days after the notice of the
second arbitrator’s selection. If the arbitrators selected by the parties (and RP, if applicable) are unable or fail to agree upon the third arbitrator, the third arbitrator shall be selected by the American 

 
Arbitration Association from its Large, Complex Commercial Case Panel. Each party (and RP, if applicable) shall bear its own costs and expenses and an equal share (with CFFT and RP jointly
bearing [***], if applicable) of the arbitrators’ fees and administrative fees of arbitration. The award of the arbitrators shall be accompanied by a reasoned opinion. Except as may be required by law, neither a party nor RP nor an arbitrator
may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of both parties (and RP, if applicable). 

4. Confidentiality. 
 4.1
Undertaking. The phrase “During the term of this Agreement” shall be deleted from the first sentence of Section 6.1 of the Agreement. 

4.2 Survival. Section 6.4 of the Agreement is deleted in its entirety and replaced with the following: 

The provisions of this Article VI shall survive until the [***] of the date of expiration of all payment obligations under this Agreement. 

5. Additional Exhibits. The new Exhibits 2016-A, Exhibit
2016-B and Exhibit 2016-C shall be added to and become part of the Agreement. 

6. Acknowledgement Regarding Past Royalties and Drug Products and Additional Products. 

6.1 CFFT and RP acknowledge and agree that no royalties in excess of the royalties already paid by Vertex to CFFT (and its assignees) are due
to CFFT (or its assignees) based on Net Sales of Drug Products occurring prior to June 30, 2016. 
 6.2 CFFT and RP agree that subject
to the definitions of Compound and Additional Compound, no chemical compound that is first synthesized and/or tested by or under the direction of Vertex after August 31, 2016 shall be considered a Compound or Additional Compound under the
Agreement regardless of any such chemical compound’s structural, chemical or other similarity to a chemical compound first synthesized and/or tested by or under the direction of Vertex prior to August 31, 2016. 

7. Program Awards by CFFT to Vertex. 

7.1 CFFT shall award Vertex a one-time, non-refundable, non-creditable sum of $75.0 million payable [***] after the Execution Date by wire transfer of immediately available funds to an account designated by Vertex for expenditures in connection with research and
development efforts regarding Original Drug Products and Additional Products. 
 7.2 For so long as Vertex is conducting (or has a bona fide
intention of conducting in the future) at least [***] to evaluate an Original Drug Product or an Additional Product, CFFT shall provide [***] awards to Vertex of [***], with the first payment due on [***], to support research and development efforts
regarding Original Drug Products and Additional Products; provided, that if Vertex and its Affiliates have collectively incurred [***] in CF Spend during the [***] period ending on the [***] (the “[***] Period”), the
amount to be paid by CFFT on the applicable payment date will be reduced to an amount equal to [***] less the amount by which the aggregate amount of CFFT’s awards under this Section 7.2 during such [***] Period exceed [***] of the
applicable CF Spend during such [***] Period. Any negative amount will be carried forward 

 
and used to reduce any awards otherwise due hereunder. For so long as CFFT is obligated to provide Vertex with funding under this Section 7.2, at least [***] prior to the date on which each
such payment is due, Vertex will provide CFFT with a high-level summary of the CF Spend during the applicable [***] Period (including the total number of FTEs and a break-out of the total amount of internal
costs and out-of-pocket costs incurred), together with a certificate of an officer of Vertex certifying the accuracy of such high-level summary. 

8. Release. 
 8.1 CFFT and
RP and each of their predecessors, successors, assigns, officers, directors, employees, trustees, parents, subsidiaries and Affiliates fully, finally and forever release, relinquish, acquit and discharge Vertex and each of its predecessors,
successors, assigns, officers, directors, employees, trustees, parents, subsidiaries, Affiliates, customers, suppliers and distributors (each individually a “Vertex Releasee”) of and from, and covenant not to sue, not to assign to
any other entity a right to sue, and not to authorize any other entity to sue any Vertex Releasee for any and all Losses (as defined below) of every name and nature, both at law and in equity, known or unknown, suspected or unsuspected, accrued or
unaccrued that (a) arise out of or relate to the Agreement and (b) existed as of the Execution Date. This release shall not prevent or impair the right of CFFT or RP to bring a claim for any breach of the Agreement, as amended, arising on
or after the Execution Date or for breach of a representation, warranty, or covenant made in this Amendment No. 7. 
 8.2 Vertex and
each of its predecessors, successors, assigns, officers, directors, employees, trustees, parents, subsidiaries and Affiliates fully, finally and forever release, relinquish, acquit and discharge CFFT and RP and each of their predecessors,
successors, assigns, officers, directors, employees, trustees, parents, subsidiaries, Affiliates, customers, suppliers and distributors (each individually a “CFFT Releasee” or “RP Releasee”), of and from, and
covenant not to sue, not to assign to any other entity a right to sue and not to authorize any other entity to sue, any CFFT Releasee or RP Releasee for any and all Losses of every name and nature, both at law and in equity, known or unknown,
suspected or unsuspected, accrued or unaccrued that (a) arise out of and relate to the Agreement and (b) existed as of the Execution Date. This release shall not prevent or impair Vertex from making a claim for any breach of the Agreement,
as amended, arising on or after the Execution Date or for breach of a representation, warranty, or covenant made in this Amendment No. 7. 

8.3 Each party waives to the fullest extent permitted by law the provisions and benefits of Section 1542 of the California Civil code,
which provides that: 
 “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her
favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement to the debtor.” 

8.4 “Losses” shall mean claims, actions, causes of actions, suits, defenses, judgments, debts, offsets, accounts, covenants,
contracts, agreements, torts, damages and any and all demands and liabilities whatsoever, including costs, expenses and attorneys’ fees. 

8.5 Each party represents, warrants and covenants that it has not heretofore assigned or transferred to any person or entity any matters
released by such party in this Section 8, and such party agrees to indemnify and hold harmless the other party and its Releasees from and against any Losses arising from any such alleged or actual assignment or transfer. 

 9. Agreement to be Bound. RP (on its own behalf and on behalf of its predecessors,
successors, assigns, officers, directors, employees, trustees, parents, subsidiaries and Affiliates) agrees to be bound by (a) the dispute resolution procedures set forth in Section 12.2 of the Agreement (as amended by Section 3 of
this Amendment No. 7) and (ii) Sections 6, 8, 9, 10, 11, 12.1 and 13 of this Amendment No. 7. 
 10. Communications.
Notwithstanding Section 6.3 of the Agreement, Vertex, CFFT and RP (and their respective predecessors, successors, assigns, officers, directors, employees, trustees, parents, subsidiaries and Affiliates) agree that any public or private
communication regarding the terms of this Amendment No. 7, shall be made in the form of, or in a manner consistent with, Schedule 1 to this Amendment No. 7; provided that (a) Vertex, CFFT and RP may disclose the terms of this
Amendment No. 7 to the extent required by applicable law and/or in connection with arbitration under this Agreement, (b) RP and CFFT may disclose the terms of this Amendment No. 7 in their audited financial statements to the extent so
required by their independent accountants, and include comparable disclosure in its unaudited quarterly financial statements, (c) RP may disclose the terms of this Amendment No. 7 to its existing and prospective lenders and equity
investors so long as such parties are subject to reasonable restrictions of confidentiality and (d) CFFT may disclose the terms of this Amendment No. 7 to Canada Pension Plan Investment Board. 

11. [***]. Vertex agrees that it shall not at any time [***] regarding [***] current or former directors, officers, stockholders, employees,
agents, attorneys or representatives, any of the other CFFT Releasees or RP Releasees under Section 8, or regarding CFFT’s or RP’s [***]. CFFT [***] each agree that neither of them shall at any time [***] regarding Vertex or
Vertex’s current or former directors, officers, stockholders, employees, agents, attorneys or representatives, any of the other Vertex Releasees under Section 8, or regarding Vertex’s [***]. 

12. Representations and Warranties; Covenants. 

12.1 Mutual Representations. Each party represents and warrants to the other party that (a) such party is duly organized,
validly existing, and in good standing under the laws of the jurisdiction of its establishment or incorporation, (b) such party has taken all action necessary to authorize it to enter into this Agreement and perform its obligations under this
Amendment No. 7, (c) this Amendment No. 7 has been duly executed and delivered on behalf of such party and constitutes a legal, valid and binding obligation of such party and (d) neither the execution of this Amendment No. 7 nor
the performance of such party’s obligations hereunder will conflict with, result in a breach of, or constitute a default under any provision of such party’s organizational documents, or of any law, rule, regulation, authorization or
approval of any government entity, or of any agreement to which it is a party or by which it is bound. 
 12.2 Vertex Representation.
Vertex represents and warrants to CFFT that Exhibit 2016-A was prepared in good faith by Vertex based on its business records and includes all compounds first synthesized and/or tested by Vertex in connection
with its research and development of Correctors during the Additional Term, [***]. If the parties agree (or the arbitrators acting under Section 12.2 of the Agreement determine) that any compound that was first synthesized and/or tested by
Vertex in connection with its research and development of Correctors during the Additional 

 
Term is not included in Exhibit 2016-A, such compound shall be added to Exhibit 2016-A, will be an Additional
Compound, and shall be treated as having been included in Exhibit 2016-A as of the Amendment No. 7 Effective Date. The addition of such compound to Exhibit 2016-A
and the application of the terms of this Agreement to such compound will be CFFT’s sole and exclusive remedies for any good-faith failure to include such compound on Exhibit 2016-A. Vertex represents and
warrants as of the Amendment No. 7 Effective Date that no Correctors other than [***] have been advanced into clinical trials and that Vertex has a bona fide intention to advance one or more Additional Products other than [***],[***] into
clinical trials in the [***] following the Amendment No. 7 Effective Date, subject to further assessment of efficacy and safety. 
 12.3
Vertex Covenant. If, at any time following the Amendment No. 7 Effective Date, Vertex files a new drug application with the United States Food and Drug Administration for marketing approval pursuant to 21 C.F.R. § 314.3 or submits a
similar application to any regulatory authority in any other country or jurisdiction, in each case, with respect to any product containing a Corrector, if requested by CFFT in writing, Vertex will provide CFFT with reasonably detailed information
regarding the date on which each such compound was first synthesized and/or tested by or at the direction of Vertex as part of its research and development of Correctors. Except as set forth in this Section 12.3, and subject to CFFT’s
right to enforce representations and obligation herein, Vertex will not be obligated to provide CFFT with any information regarding the date on which any compound was first synthesized and/or tested by or at the direction of Vertex as part of its
research and development of Correctors. 
 13. Assignment. None of the Agreement, nor any Compound, any Original Drug Product or
Additional Compound, or any rights to any Compound or Additional Compound, may be transferred or assigned by Vertex without the prior written consent of CFFT, except that, Vertex may transfer all of its rights in the Agreement and all Compounds,
Original Drug Products, and Additional Compounds, but only if the transferee or assignee executes and delivers to CFFT an agreement to assume all of Vertex’s obligations under the Agreement. CFFT may transfer or assign its rights under the
Agreement solely as provided in the Agreement. RP may not assign or transfer its rights under this Amendment No. 7. 
 14. Existing
Agreement Ratified. As amended and supplemented hereby, all terms and provisions of the Agreement in effect immediately prior to the Amendment No. 7 Effective Date shall remain in full force and effect. For the avoidance of doubt, the
following sections from the Agreement remain in effect, as amended by this Amendment No. 7 and prior amendments: Articles V, VI (for the period of time specified therein), VII (for the period of time specified therein), VIII, IX, XI, XII, XIII
and any other provision of the Agreement that, by its terms, survives the termination of the Agreement. If specific provisions of this Amendment No. 7 are inconsistent with specific provisions of the Agreement, the provisions of this Amendment
No. 7 shall control. This Amendment No. 7 may be executed in any number of counterparts, each of which shall be deemed an original, and all of which, taken together, shall constitutes one and the same agreement. Vertex, CFFT and RP may
execute this Amendment No. 7 by electronically transmitted signature and such electronically transmitted signature will be as effective as an original executed signature page. 

[Signature Page Follows] 

 In WITNESS WHEREOF, the undersigned have executed this Amendment No. 7 on the Execution
Date effective as of the Amendment No. 7 Effective Date. 
  

							
	 CYSTIC FIBROSIS FOUNDATION

THERAPEUTICS INCORPORATED
	  	 VERTEX PHARMACEUTICALS

INCORPORATED

				
	By:	  	 /s/ Preston Campbell
	  	By:	  	 /s/ Ian Smith

	Name:	  	Preston Campbell	  	Name:	  	Ian Smith
	Title:	  	President & CEO	  	Title:	  	EVP& CFO

 SOLELY FOR PURPOSES OF SECTIONS 6, 8, 9, 10, 11, 12.1 AND 13 OF THIS AMENDMENT NO. 7, RP HAS EXECUTED THIS
AMENDMENT NO. 7 ON THE EXECUTION DATE EFFECTIVE AS OF THE AMENDMENT NO. 7 EFFECTIVE DATE. 
 RPI FINANCE TRUST 

 

			
	By:	 	 Wilmington Trust Company, not
 in its individual
capacity but
 solely in its capacity as owner trustee

  

			
	RPI FINANCE TRUST
		
	By:	 	 Wilmington Trust Company, not
 in its individual
capacity but
 solely in its capacity as owner trustee

		
	By:	 	 /s/ Eric A Kardash

	Name:	 	Eric A Kardash
	Title:	 	Assistant Vice President

 It is expressly understood and agreed by the parties hereto that (i) this Agreement is executed and delivered by
Wilmington Trust Company, not individually or personally, but solely as owner trustee of RPI Finance Trust, (ii) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, any
such liability, if any, being expressly waived by the parties hereto and by any person claiming by, through or under the parties hereto, and (iii) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any
indebtedness or expenses of RPI Finance Trust. 

 Exhibit 2016-A 

Additional Compounds 
 [***]  

 Exhibit 2016-B 

KALYDECO & ORKAMBI Example 

If annual Net Sales of KALYDECO are equal to [***] and annual Net Sales of ORKAMBI are equal to [***], and no other products containing VX-770 Drug Product or VX-809 Drug Product or any other Original Drug Product are sold in the applicable calendar year, the royalty payable to CFFT by Vertex would be
calculated as follows: 
  

					
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 Royalty Paid on Original Drug Products:
	  			
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 Total Royalty:
	  	$	[	***] 

 Exhibit 2016-C 

Additional Example 
 If annual Net
Sales of the Combination Product described in Section 5.3.1(g) are equal to [***] and no other products containing any of the components of such Combination Product or any Original Drug Product or Additional Product either separately or as part
of another unrelated Combination Product, are sold in the applicable year, the royalty payable to CFFT by Vertex would be calculated as follows: 
  

					
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 [***]:
	  			
	 [***]
	  	$	[	***] 
	 [***]
	  	$	[	***] 
	 Royalty Paid on Additional Product under Section 5.3.1(d)(i):
	  			
	 Total Annual Net Sales [***]
	  	$	[	***] 
	 Royalty Paid on Additional Product under Section 5.3.1(d)(ii):
	  			
	 Total Annual Net Sales [***]
	  	$	[	***] 
	 Total Royalty:
	  	$	[	***] 

 Schedule 1 

Publicity 
 Item 1.01. Entry into a
Material Definitive Agreement 
 The information contained in Item 8.01 regarding the Amendment is incorporated herein by reference. 

Item 8.01 Other Events 
 On
October 13, 2016, we amended and expanded our Research, Development and Commercialization Agreement (the “Collaboration Agreement”), dated May 24, 2004, by and between Cystic Fibrosis Foundation Therapeutics Incorporated
(“CFFT”) and Vertex Pharmaceuticals Incorporated (the “Amendment”), in order to update and clarify the terms of our relationship. The Amendment provides for an upfront program award from CFFT to us of $75.0 million and
development funding from CFFT to us of up to $6.0 million annually. Pursuant to the Amendment, we have agreed to pay royalties ranging from low single digits to mid-single digits on certain compounds
first synthesized and/or tested between March 1, 2014 and August 31, 2016. We will continue to pay royalties ranging from single digits to sub-teens on any approved drugs first synthesized and/or
tested on or before February 28, 2014. The parties also clarified that net sales on combination products will be allocated equally to each of the active pharmaceutical ingredients in the combination product consistent with the allocation of net
sales for ORKAMBI and provided further clarification with respect to the calculation of royalties on products covered by the Collaboration Agreement. 

Independently, we entered into a data license agreement with the Cystic Fibrosis Foundation pursuant to which we will pay for continuing
access to data from the CFF’s patient registry, which we believe will be important for research, development and approval of future CF medicines.

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