Document:

Exhibit 10.1

 

EXECUTION VERSION

 

AMENDMENT TO EMPLOYMENT AGREEMENT

 

THIS AMENDMENT TO EMPLOYMENT
AGREEMENT (this “Amendment”), dated as of August 30, 2019, by and between REVEN HOUSING REIT, INC., a
Maryland corporation (the “Company”), and CHAD CARPENTER (the “Executive”).

 

RECITALS

 

WHEREAS, the Company
and the Executive have entered into that certain Amended and Restated Employment Agreement, dated as of August 14, 2018 (the “Employment
Agreement”);

 

WHEREAS, the Company
and Executive do now mutually desire to amend certain terms of the Employment Agreement, effective as of the Effective Date (as
defined below), by entering into this Amendment;

 

WHEREAS, this Amendment
is being executed and delivered in connection with that certain Agreement and Plan of Merger, of even date herewith (the “Merger
Agreement”), by and among SOR PORT Holdings, LLC, a Maryland limited liability company (“Parent”),
SOR PORT, LLC, a Maryland limited liability company and a wholly-owned subsidiary of Parent (“Merger Sub”),
and the Company, pursuant to which Merger Sub will merge with and into the Company (the “Merger”), with
the Company surviving the Merger as a wholly-owned subsidiary of Parent, upon the terms and subject to the conditions set forth
in the Merger Agreement;

 

WHEREAS, the Executive
acknowledges that, as a result of the Merger, the Executive is selling all of his equity interest in the Company, and the goodwill
of the Company’s business associated with such interest, to Parent and, therefore, will directly benefit from Parent’s
acquisition of such goodwill;

 

WHEREAS, the Executive
is deriving substantial economic benefit from the sale or disposition of the Executive’s interest in the Company to Parent
as a result of the Merger;

 

WHEREAS, upon and after
the Merger, Parent will carry on the business of the Company, and therefore, the Executive acknowledges and agrees that it is fair
and appropriate to preserve the value of the goodwill of the Company to be purchased by Parent as a result of the Merger by amending
the Agreement to ensure that the Executive will not compete with the Company or Parent following the Merger, as set forth in this
Amendment;

 

WHEREAS, the Executive
recognizes and agrees that this Amendment is necessary to protect Parent’s interest in the Company, including its goodwill,
that will be acquired in connection with the Merger; and

 

WHEREAS, as an inducement
for Parent to consummate the Merger and the other transactions contemplated by the Merger Agreement, the Company and the Executive
desire to amend the Agreement in the manner set forth herein in order to protect Parent’s interest in the Company, including
its goodwill, and enable Parent to secure more fully the benefits of the Merger.

 

     

     

    

 

NOW THEREFORE, in consideration
of the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby covenant and agree, effective as of the Effective Date,
as follows:

 

1.   
       Certain Terms. Capitalized terms used, but not defined, in this
Amendment, shall have the respective meanings given them in the Employment Agreement. As used in this Amendment, the terms
set forth below have the meanings indicated.

 

(a)          “Competitive
Activity” means any activity that is in competition with the Company with respect to acquisition of portfolios and
management of single family residences in which the Company or any of its Related Entities engages as of the Effective Date (unless
the Company or such Related Entity no longer engages in, or is planning to engage in, such activity).

 

(b)          “Related
Entity” means any subsidiary, and any business, corporation, partnership, limited liability company or other entity
designated by the Board in which the Company or a subsidiary holds a substantial ownership interest, directly or indirectly.

 

(c)          “Restricted
Business” means a person that engages in, or owns or controls
a significant interest in any Person that engages in, a Competitive Activity. 

 

(d)          “Territory”
means anywhere in any state within the United States in which the Company or any of its subsidiaries conducts business, and any
other state in which the Executive performs services for, or on behalf of, the Company or any of its subsidiaries, in each case,
as of the Effective Time.

 

2.   
       Amendment. The Agreement is hereby amended by inserting the following
Section 7(i) immediately following Section 7(h) thereof:

 

(i)          Non-Competition.
At all times during the period commencing on the Effective Date and ending on the first (1st) anniversary thereof, the
Executive shall not, directly or indirectly (including, without limitation, through any Affiliate of the Executive), (i) have any
ownership interest or other profit participation interest in, enter into a joint venture with, participate in the management, financing,
operation or control of, a Restricted Business anywhere in the Territory, (ii) engage or participate in any Competitive Activity
within the Territory or (iii) enter the employ of, render any services to, or be connected as an partner, member of the board of
directors or managers of, or consultant of, any Restricted Business in the Territory; provided, however, that, notwithstanding
the foregoing, the Executive may directly (or indirectly through a mutual fund or similar common investment vehicle) own securities
in any entity that is publicly traded on a nationally recognized exchange and that is a Restricted Business, provided that
(A) the Executive does not own, of record or beneficially, in the aggregate more than five percent (5%) of the outstanding beneficial
ownership of such entity (“excluding the Executive’s beneficial ownership of securities of the Company”) and
(B) does not have any active participation in any activity of such entity that constitutes a Competitive Activity.

 

    2

     

    

 

3.    
      Representations. Executive acknowledges that: (i) Executive is deriving
substantial economic benefit from the sale of equity in the Company to Parent in connection with the Merger; (ii) the
covenants and the restrictions contained in this Amendment are necessary, fundamental and required for the protection of
Parent’s interest in the Company and to preserve the value of the goodwill of the Company to be purchased by Parent;
(iii) Executive is entering into this Agreement solely in connection with the sale of equity in the Company and not in
connection with any contemplated employment with Parent or any continued employment with the Company; and (iv) a breach of
any of such covenants or any other provision of this Amendment will result in irreparable harm and damage to Parent that
cannot be adequately compensated by a monetary award.

 

4.     
     Miscellaneous.

 

(a)          Effective
Date. This Amendment shall become effective at, and conditioned upon the occurrence of, the Effective Time (as defined
in the Merger Agreement) of the Merger (the “Effective Date”) (it being understood that, if the Merger
is not consummated in accordance with the Merger Agreement, this Amendment, and the terms and conditions thereof, will not become
effective and will be of no force and effect).

 

(b)          Counterparts.
This Amendment may be executed in one or more counterparts, and by the different parties hereto in separate counterparts, each
of which when executed shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement.

 

(c)          No
Other Amendments. Except as expressly provided in this Amendment, each and every term and condition of the Employment Agreement
shall remain unchanged and in full force and effect. From and after the Effective Date, all references to the term “Agreement”
in this Amendment or the Employment Agreement shall include the terms and provisions contained in this Amendment.

 

[Signature page follows]

 

    3

     

    

 

IN WITNESS WHEREOF, the undersigned have
executed this Amendment as of the date first above written.

 

	 	Company:
	 	 
	 	REVEN HOUSING REIT, INC.
	 	 	 
	 	By:	/s/ Thad Meyer
	 	Name:	Thad Meyer
	 	Title:	Chief Financial Officer, Chief Operating Officer and Secretary
	 	 
	 	Executive:
	 	 
	 	/s/ Chad M. Carpenter
	 	CHAD CARPENTER

 

[Signature Page to Amendment to Employment
Agreement]EX-10.21

 Exhibit 10.21 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED. 
  
  

 
  

	
	 REVISED AND RESTATED MASTER
EXCLUSIVE LICENSE AGREEMENT
 BETWEEN OHSU AND
TOMEGAVAX, INC.

  
  

 
  

							
			
	 1.
	 	BACKGROUND	  	 	2	 
			
	 2.
	 	DEFINITIONS	  	 	2	 
			
	 3.
	 	GRANT OF RIGHTS	  	 	4	 
			
	 4.
	 	PAYMENTS	  	 	5	 
			
	 5.
	 	SUBLICENSING	  	 	9	 
			
	 6.
	 	COMMERCIALIZATION	  	 	9	 
			
	 7.
	 	RESTRICTIONS	  	 	10	 
			
	 8.
	 	BOOKS, RECORDS AND REPORTS	  	 	11	 
			
	 9.
	 	CONFIDENTIAL INFORMATION	  	 	12	 
			
	 10.
	 	PROSECUTION, DEFENSE AND MAINTENANCE OF PATENTS	  	 	12	 
			
	 11.
	 	PATENT ENFORCEMENT	  	 	14	 
			
	 12.
	 	REPRESENTATIONS, WARRANTIES AND DISCLAIMERS	  	 	15	 
			
	 13.
	 	INSURANCE	  	 	16	 
			
	 14.
	 	INDEMNIFICATION	  	 	16	 
			
	 15.
	 	TERM AND TERMINATION	  	 	16	 
			
	 16.
	 	GENERAL PROVISIONS	  	 	18	 
		
	 APPENDIX A: COMMERCIAL DEVELOPMENT PLAN
	  			
	 APPENDIX B: ANNUAL UPDATE TO COMMERCIAL DEVELOPMENT PLAN
	  			
	 APPENDIX C: QUARTERLY REPORT
	  			
	 APPENDIX D: BUSINESS PLAN
	  			
	 APPENDIX E: STARTUP REPORTING
	  			
	 APPENDIX F: STOCK ACQUISITION AGREEMENT
	  			
	 APPENDIX G: FORM OF EXCLUSIVE LICENSE FOR FUTURE JOINT PATENTS
	  			

  

					
	

	  	CONFIDENTIAL	  	Page 1 of 30

 REVISED AND RESTATED MASTER EXCLUSIVE LICENSE AGREEMENT 

This Revised and Restated Master Exclusive License Agreement (this “Agreement”), is between the Oregon Health & Science
University, having offices at 0690 SW Bancroft Street, Portland, Oregon 97239 (“OHSU”), and TomegaVax, Inc., having offices at 12909 SW 68th Parkway, Suite 430, Portland, Oregon 97223-8387
(“Licensee”). OHSU and Licensee are herein referred to each as a “Party” and collectively as the “Parties.” This Agreement shall replace in its entirety the Master Exclusive License Agreement
between the Parties, dated and effective as of June 22, 2012 (the “Effective Date”). The Effective Date for this Agreement shall remain the same as for the Master Exclusive License Agreement. 

1. BACKGROUND 
  

	1.1	 OHSU has certain inventions and discoveries generally described as cytomegalovirus
(“CMV”) vectors for use in vaccine development. 

  

	1.2	 OHSU intends to include OHSU inventions, discoveries, know-how
and patent rights based on the use of CMV vaccine vectors (each an “Invention” and collectively the “Inventions”) to this Agreement through the execution of addendums (each particular addendum herein referred to as
a “Technology Addendum”). 

  

	1.3	 OHSU desires the Inventions to be utilized for the public benefit to the fullest extent possible.

  

	1.4	 Licensee intends to bring together the scientific and business talent, facilities and capital to develop
and market products and processes based upon the Inventions. 

  

	1.5	 Licensee wishes to obtain from OHSU, and OHSU is willing to grant to Licensee, a license to exploit the
Inventions subject to the terms and conditions set forth below. 

  

	2.	 DEFINITIONS 

  

	2.1	 “Affiliate” means any entity that controls, is controlled by or is under common control
with Licensee, where “control” means beneficial ownership of more than 50% of the outstanding voting securities of an entity, the right to receive 50% or more of the profits or earnings, or the ability otherwise to elect a majority of the
board of directors or other managing authority. 

  

	2.2	 “Change of Control” means (a) the acquisition, either directly or indirectly,
through one or a series of transactions by any third party of more than fifty percent of the voting stock of Licensee; (b) any merger or consolidation involving Licensee that requires a vote of the stockholders of Licensee; or (c) the
transfer to any third party of all or substantially all the assets of Licensee relating to the subject matter of this Agreement. 

  

	2.3	 “Commercial Development Plan” means a written plan submitted by Licensee describing the
details of how and when Licensee will commercially develop and exploit the Licensed Technologies, attached hereto in Appendix A, and as updated pursuant to Section 6.2 of the Agreement. 

 

	2.4	 “Confidential Information” means all information and materials provided by one Party
(“Disclosing Party”) to the other (“Recipient”) and designated as confidential by Disclosing Party when provided. The term “Confidential Information” does not include any information or materials

  

					
	

	  	CONFIDENTIAL	  	Page 2 of 30

	 	that the Recipient demonstrates (a) is or becomes part of the public domain through no fault of the Recipient or anyone receiving the Confidential Information from Recipient; (b) was already known to Recipient
prior to disclosure as demonstrated through adequate written records; (c) is disclosed to Recipient by a third party who has the right to make such disclosure; or (d) through adequate written records to have been developed independently of
knowledge of or access to the Confidential Information. The specific terms and conditions of this Agreement are Confidential Information, but the existence of the Agreement and Field of Use are not. 

 

	2.5	 “Developed Country” means any country that is not identified as a Least Developed
Country as defined herein. 

  

	2.6	 “Field of Use” shall have the meaning set forth in each Technology Addendum.

  

	2.7	 “Inventors” means the individuals listed as inventors on any patent application or
issued patent included within the Patent Rights. 

  

	2.8	 “Know-How” shall have the meaning set forth in
each Technology Addendum. 

  

	2.9	 “Least Developed Countries” means each country identified as a low-income economy by the World Bank Group and by the United Nations on their respective websites at the time the Licensed Product is transferred. 

 

	2.10	 “Licensed Product” shall have the meaning set forth in each Technology Addendum.

  

	2.11	 “Licensed Technology” shall have the meaning set forth in each Technology Addendum, and
together shall be referred to as the “Licensed Technologies.” 

  

	2.12	 “Net Sales” means the gross invoiced amount, and/or the monetary equivalent of any
other consideration actually received by Licensee and/or its Sublicensees, for the transfer of a Licensed Product, less any of the following items that are itemized on the relevant invoice or which Licensee [***]: 

 

	 	(a)	 [***]; 

  

	 	(b)	 [***]; 

  

	 	(c)	 [***]; and 

  

	 	(d)	 [***]. 

[***]. If Licensee or Sublicensee determines the resale price for subsequent transfers of Licensed Product, then Net Sales will be calculated
based on the resale invoiced amount. If Licensee or Sublicensees sell the Licensed Products with any other goods or services, Net Sales will be calculated based on the [***]. Net Sales accrue at the first of delivery or invoice. 

 

	2.13	 “Patent Costs” means all out-of-pocket costs and expenses incurred by OHSU in connection with the preparation, filing, prosecution, defense, including interference and opposition proceedings, and maintenance of the Patent Rights.

  

	2.14	 “Patent Rights” shall have the meaning set forth in each Technology Addendum.

  

					
	

	  	CONFIDENTIAL	  	Page 3 of 30

	2.15	 “Sublicensees” means any person or entity including an Affiliate that directly or
indirectly obtains any rights in or to Licensed Technology from Licensee in order to develop and/or sell a Licensed Product, including by an agreement not to assert rights, other than solely from the purchase of Licensed Product.

  

	2.16	 “Term” means the period beginning on the Effective Date and ending on the date when
(a) the last patent and patent application included within the Patent Rights have expired, been abandoned, or been finally adjudicated as invalid or unenforceable by a non-appealable order; or (b) 10
years, whichever is later. 

  

	2.17	 “Vaccine Licensed Product” shall have the meaning as set forth in Section 4.6
herein. 

  

	3.	 GRANT OF RIGHTS 

 

	3.1	 Licenses 

  

	 	(a)	 Exclusive Patent License. Subject to the terms and conditions of this Agreement and Licensee’s
compliance therewith, OHSU grants to Licensee an exclusive, worldwide and nontransferable (except as provided below) license in the Field of Use under the Patent Rights, to make, have made, use, offer to sell, sell, have sold, export and import
Licensed Products for the Field of Use. 

  

	 	(b)	 Non-Exclusive Know-How
License. Subject to the terms and conditions of this Agreement and Licensee’s compliance therewith, OHSU grants to Licensee a nonexclusive and nontransferable (except as provided below) license in the Field of Use to use the Know- How to
make, have made, offer to sell, sell and import Licensed Products for the Field of Use. OHSU has made the Know-How reasonably available to Licensee on an “AS IS, WHERE IS” basis. OHSU has no other
obligation with respect to the Know-How. 

  

	 	(c)	 Sublicense. Licensee will have the right to grant sublicenses under the rights conveyed in Sections
3.1(a) and (b) as set forth in Section 5. If an Affiliate of Licensee desires to practice any Licensed Technology, such Affiliate must become a Sublicensee hereunder. 

 

	 	(d)	 Limited License. OHSU has not authorized any products or processes other than Licensed Products made,
used, sold and imported in compliance with this Agreement and Licensee agrees not to practice or have practiced OHSU’s rights in contravention therewith. All conveyances of the rights licensed in this Section 3.1, including sublicenses,
assignments and transfers will be consistent with the terms and conditions of this Agreement or will be null and void. 

  

	 	(e)	 Future Joint Patents. Licensee shall have the option to exclusively license from OHSU any future patent
applications and/or foreign counterparts (including continuations, continuations-in-part and divisionals, patents issuing from any of the foregoing, and reissues,
extensions, supplementary protection certificates, substitute applications, and reexaminations of any of the foregoing) that are [***]. Licensee must notify OHSU of its intention to exercise this option within [***], otherwise OHSU is free to
license its rights in any such [***] patent application to a third party. For purposes of clarity, any such option exercise shall apply to all the foreign counterpart of such patent application. 

  

					
	

	  	CONFIDENTIAL	  	Page 4 of 30

	3.2	 Retained Rights. 

 

	 	(a)	 OHSU reserves the right to (i) practice and have practiced the Licensed Technologies for non-commercial research, education and/or non-profit patient care purposes, including granting nonexclusive licenses and distributing biological and other materials related to
the Licensed Technologies to other universities, academic institutions and non-profit research organizations and publishing any scientific findings or other information relating to or including the Licensed
Technologies; and (ii) all right, title and interest in and to the Licensed Technologies not expressly granted in Section 3.1. OHSU shall provide a copy of all requests for biological and other materials related to the Licensed
Technologies to Licensee in order to keep Licensee informed as to the other parties who may be receiving such materials. [***] 

  

	 	(b)	 This Agreement does not confer any right, title or interest, including any license or rights by implication,
estoppel or otherwise, in tangible or intangible property rights, including any patents, know-how or other inventions or discoveries, that are not explicitly granted to Licensee in Section 3.1, and OHSU
expressly retains those rights. 

  

	 	(c)	 Patent exhaustion will not apply for any unauthorized sale, and Licensee will provide notice of the Field of
Use restrictions to all entities, including Sublicensees and customers to prevent exhaustion of the Patent Rights and any implied license. 

  

	3.3	 Government Rights. OHSU may have obtained and may in the future obtain funding from an agency of the
U.S. Government. All rights granted are subject to the rights of and obligations to the U.S. Government, and Licensee agrees to comply and enable OHSU to comply therewith, including as set forth in 35 U.S.C. Section 200 et seq., regarding
substantial manufacture of Licensed Products in the U.S.. Licensee shall report to OHSU in writing whether or not Licensee and each of its Sublicensees is a “small business firm” as defined by the Small Business Administration for the
purposes under the Bayh-Dole Act 37 C.F.R. 5401.14(a)(5) in each Annual Report to OHSU. 

  

	4.	 PAYMENTS 

As partial consideration for the rights granted to Licensee under this Agreement, Licensee will pay OHSU the following: 

 

	4.1	 Upfront License Payment. Within [***] of the Effective Date, Licensee will issue to OHSU an amount of
shares of the common stock of Licensee that at the time of the issuance equals [***] of the issued and outstanding shares of common stock of Licensee on a fully diluted basis, pursuant to the form of stock acquisition agreement attached hereto as
Appendix F. This upfront license payment will satisfy obligations of Licensee under the OHSU Springboard Program. 

  

	4.2	 Milestone Payments. Licensee will pay OHSU the following amounts within [***] of Licensee or any
Sublicensee achieving each of the following milestones in the development of prophylactic and therapeutic vaccines: 

[***] 
  

	4.3	 Royalty Payments. Licensee will pay OHSU a continuing royalty as set forth below. No multiple royalty
payments will be payable to OHSU because a Licensed Product may be covered by more than one patent or patent application included within the Patent Rights or may embody the use of both Patent Rights and
Know-How. Royalty payments are due and payable within 30 days after the end of the calendar quarter in which the Net Sale occurred and must be accompanied by a Quarterly Report as more fully described in
Section 8.2 below. 

  

					
	

	  	CONFIDENTIAL	  	Page 5 of 30

	 	4.3.1	 [***]. 

  

	 	4.3.2	 [***]. 

  

	 	4.3.3	 [***]. 

  

	 	4.3.4	 The royalty percentage will be reduced [***] where the Licensed Product involved in such Net Sales embodies
solely Know-How and none of the Patent Rights. 

  

	 	4.3.5	 For Net Sales [***] for purposes of calculating the royalties due to OHSU. 

 

	 	4.3.6	 After the ten-year anniversary of this Agreement, royalties shall not
apply to any Licensed Product for which no Patent Rights apply worldwide. 

  

	 	4.3.7	 If the event that royalty payable on Net Sales for any Licensed Product in any country would exceed [***] of
the royalty payment received by the Licensee from the Sublicensee for such Net Sales, the royalty payable to the OHSU from the Licensee shall alternatively be [***]. 

 

	4.4	 Third Party Royalties. If Licensee is required to pay royalties to a third party in order to sell a
Licensed Product as a result of [***], Licensee may credit against royalties otherwise required to be paid to OHSU on such Licensed Product [***] of the amount otherwise due and payable to OHSU on such Licensed Product. However, in no event shall
the royalties due OHSU be reduced by more than [***]. 

  

	4.5	 Combination Products. If the Parties agree that any Licensed Product should be sold in combination with
other products or processes (“Other Products”), then Net Sales shall be calculated on the following basis: 

  

	 	(a)	 if such Licensed Product and Other Products have each been sold separately, the total price of the combination
multiplied by the ratio of the separate prices of the specific Licensed Product over the Other Products; 

  

	 	(b)	 if such Licensed Product has been sold separately but the Other Products have not, the price of the combination
multiplied by the ratio of the separate price of the specific Licensed Product to the price of the combination; or 

  

	 	(d)	 if such Licensed Product has not been sold separately, then the Parties agree [***]. 

 

	 	(e)	 However, in no event shall [***]. 

  

					
	

	  	CONFIDENTIAL	  	Page 6 of 30

	4.6	 License Maintenance Payments. Beginning on the [***] anniversary of the Effective Date and until the
first Net Sale in a Developed Country of any Licensed Product that is a prophylactic or therapeutic vaccine (a “Vaccine Licensed Product”), Licensee will pay OHSU a license maintenance payment of [***] by each anniversary of the
Effective Date. 

  

	4.7	 Minimum Royalty Payments. Commencing on the first January 1 to occur after the first Net Sale of
any Vaccine Licensed Product in a Developed Country, and for each year thereafter, Licensee will pay to OHSU minimum annual royalties specified below. OHSU will credit payment of minimum royalties received against any subsequent royalty payments
made by Licensee for any Licensed Products, but only for the year in which the minimum annual royalty was received. Minimum annual royalties are not due on a Licensed Product by Licensed Product basis, but instead the single minimum annual royalty
payment per year is creditable against any subsequent royalty payments made by Licensee for all Licensed Products sold during that year. 

  

	 	4.7.1	 [***]; 

  

	 	4.7.2	 [***]; 

  

	 	4.7.3	 [***]. 

  

	4.8	 Sublicensee Payments. License will pay OHSU [***] received from a Sublicensee, whether in the form of
money, equipment, property or any other cash or noncash consideration, other than sales generating royalty payments to OHSU pursuant to Section 4.3 and payments made in consideration of equity or debt securities of Licensee at fair market
value. The Parties will [***], and Licensee will pay OHSU such amount by the end of such [***]. However, such remuneration shall not include any reimbursements of research and development costs incurred by Licensee. Licensee shall not be required to
pay both a sublicensing payment and a Milestone Payment under Section 4.2 to OHSU on remuneration received by Licensee from a Sublicensee for the same milestone. Instead, Licensee shall pay [***]. For example, if Sublicensee pays Licensee a
milestone payment based on Sublicensees [***]. If at the time of any Sublicense signing, Licensee has already made milestone payments to OHSU for one or more vaccine programs associated with the Sublicense, those amounts will be subtracted from the
total upfront remuneration received by Licensee prior to calculating the [***] sublicensing fee that Licensee would owe OHSU. Subsequent to the signing of any Sublicense, Licensee will pay to OHSU the [***]. [***] 

 

	4.9	 Reimbursement of Patent Costs. 

 

	 	4.9.1	 Within [***] after the occurrence of each of the following events, whether any such event occurs prior to or
after the Effective Date, Licensee will pay OHSU the following payments towards Patent Costs incurred by OHSU covering the Licensed Technologies. Patent Costs incurred by OHSU on each Technology are detailed in each Technology Addendum.

  

					
	 Event
	  	Payment	 
	 [***]
	  	 	[	***] 
	 [***]
	  	 	[	***] 
	 [***]
	  	 	[	***] 
	 [***]
	  	 	[	***] 

  

					
	

	  	CONFIDENTIAL	  	Page 7 of 30

	 	4.9.2	 Beginning on the [***] of the Effective Date, Licensee will pay OHSU [***] by each anniversary of the Effective
Date towards reimbursement of Patent Costs incurred by OHSU. Any amounts paid under this Section 4.9.2 will offset the total unreimbursed Patent Costs incurred by OHSU. 

 

	 	4.9.3	 Upon the [***] of the Effective Date, Licensee will pay OHSU for [***] of the Effective Date.

  

	 	4.9.4	 Licensee agrees to reimburse OHSU for all Patent Costs incurred after the signing date of this Agreement within
[***] unless Licensee has surrendered its rights under Section 10.4 of the Agreement. 

  

	4.10	 Payment Terms. 

 

	 	(a)	 Any payments in a Technology Addendum may be in addition to and/or supersede the payments in this Agreement.

  

	 	(b)	 Except as expressly provided in Section 4.7and Section 4.8, all payments are nonrefundable and
noncreditable, and due and payable to OHSU by Licensee on the date specified in this Agreement. In the event no date is specified, payment is due within [***] from the date of the invoice. 

 

	 	(c)	 Any unpaid invoices or payments will incur a late fee of [***] until paid. Acceptance of late payments does not
negate or waive OHSU’s right to seek any other remedy in law, equity or otherwise. 

  

	 	(d)	 All amounts payable to OHSU under this Agreement are payable in United States dollars, including royalties
based on Net Sales in foreign countries and sublicensee payments payable by Sublicensees located in foreign countries. 

  

	 	(e)	 United States dollar amounts will be calculated using the foreign exchange rate published in The Wall Street
Journal in effect for that foreign currency on the last business day of the reporting period to which the payment relates, and all fees in connection with making the payment will be borne by Licensee. 

 

	 	(f)	 Licensee will[ [***] by Licensee and Sublicensees. 

 

	 	(g)	 All amounts payable to OHSU under this Agreement are net of all taxes and other charges, and Licensee will be
responsible for paying all taxes, fees and other charges levied by any taxing authority on account of license payments, royalties or any other sums payable under this Agreement. Licensee will deliver copies of all official tax receipts.

  

	 	(h)	 All payments required under this Agreement will be delivered by hand, by overnight courier, or by first class,
registered or certified mail, properly addressed to OHSU at the address listed in Section 16.1 below. 

  

					
	

	  	CONFIDENTIAL	  	Page 8 of 30

	5.	 SUBLICENSING 

  

	5.1	 Method of Granting a Sublicense. Subject to the terms and conditions of this Agreement and
Licensee’s compliance therewith, Licensee may grant sublicenses under this Agreement or any Technology Addendum to Sublicensees by entering into a written sublicense agreement (a) that names OHSU as a third party beneficiary; (b) is
consistent with all terms and conditions of this Agreement, including Sections 7 (Restrictions), 8 (Books, Records and Reports), 9 (Confidential Information), 12 (Representations, Warranties and Disclaimers) and 14 (Indemnification); and
(c) provides that it will terminate upon the earlier of the termination or expiration of this Agreement or the term of the specific Technology Addendum covered by such sublicense. If Sublicensee wishes to continue to practice any Licensed
Technology after the termination of this Agreement or any Technology Addendum, then OHSU and Sublicensee will negotiate a separate license with substantially similar terms to those in this Agreement and Technology Addendums. 

 

	5.2	 Duty to Deliver a Copy of the Sublicense Agreement to OHSU. Within [***] after the execution of each
sublicense agreement and any amendment thereof, Licensee will deliver to OHSU a copy of that sublicense agreement and/or amendment to OHSU. 

  

	5.3	 Liability. Licensee remains liable for Sublicensee’s compliance with the terms and conditions of
this Agreement, and OHSU has the right to audit Sublicensee’s compliance. 

  

	6.	 COMMERCIALIZATION 

 

	6.1	 Diligence. Licensee will diligently develop, manufacture or have manufactured, market and sell Licensed
Products as soon as practicable consistent with reasonable business practices and judgment and any obligations to the U.S. government specified in Section 3.3, including: 

[***] 
 Licensee may [***] and any
such [***] will replace the corresponding diligence target(s) in this Section unless [***] of the submission of the Commercial Development Plan Update that it does not approve of one or more of the revisions contained in the Commercial Development
Plan Update. OHSU shall not unreasonably withhold approval of any such revisions. Additional diligence benchmarks may be included in each Technology Addendum. 
  

	6.2	 Commercial Development Plan Update. Furthermore, Licensee will perform substantially as described in the
Commercial Development Plan and submit to OHSU within [***] after the end of each calendar year an updated Commercial Development Plan that includes the information substantially in the form attached as Appendix B, certified as accurate by an
officer of Licensee, and reasonably acceptable to OHSU. 

 For any Licensed Technologies whose commercial development is
not included in the existing Commercial Development Plan, Licensee shall (i) either amend the current version of the Commercial Development Plan to include all Licensed Technologies, or (ii) include a separate Commercial Development Plan
for each such Licensed Technology in the respective Technology Addendum. 
  

	6.3	 Licensee’s Business Plan. Commensurate with the execution of this Agreement, Licensee has provided
OHSU with a copy of its current business plan attached as Appendix D. Along with Licensee’s annual update to each Commercial Development Plan described in Section 6.2 above, Licensee will also submit to OHSU within [***] after the end of
each calendar year Licensee’s updated business plan. 

  

					
	

	  	CONFIDENTIAL	  	Page 9 of 30

	7.	 RESTRICTIONS 

  

	7.1	 Use Restrictions. Neither Licensee nor Sublicensees will use the Licensed Products as end users without
paying a royalty based on the fair market value of the Licensed Products used, except to (a) obtain regulatory approval of Licensed Products; or (b) demonstrate the Licensed Products to potential customers or partners.

  

	7.2	 Sales, Transfer and Encumbrance Restrictions. Neither Licensee nor Sublicensees will sell, lease,
license, import, transfer or otherwise dispose of any Licensed Products (a) other than in a manner generating a Net Sale; or (b) for use other than in the Field of Use. Notwithstanding the foregoing, Licensee and Sublicensee may transfer
Licensed Products (i) to a contract research organization solely for research and development efforts for the direct benefit of the Licensee or Sublicensee, and (ii) to a third-party solely to demonstrate the Licensed Products to potential
customers or partners or (iii) in commercially reasonable amounts for use.as sales samples. 

  

	7.3	 Compliance with Laws. 

 

	 	(a)	 Licensee is subject to all United States laws and regulations, including the Export Administration Act of 1979
and the Arms Export Control Act (collectively, the “Export Acts”) that control the export of technical data, computer software, laboratory prototypes, biological material and other commodities. The transfer of those items may
require a license from the U.S. Government or written assurances by Licensee that it will not export such items to certain foreign countries without prior approval from the U.S. Government. OHSU neither represents that a license is required, nor
that if required, it will be issued. 

  

	 	(b)	 Licensee will at all times and at its expense (i) comply with the Export Acts and obtain all required
export licenses and approvals necessary; (ii) register and give the required notice of this Agreement in each country where an obligation exists; and (iii) be solely responsible for ensuring that Licensee’s performance, the Licensed
Technology and the Licensed Products comply with all applicable laws, rules, regulations, orders, decrees, judgments and other governmental acts of any foreign governmental authorities having jurisdiction over Licensee or any Sublicensee (including
any health and safety rules and regulations and any patent, copyright, trademark or other infringement laws). 

  

	7.4	 No Endorsement/Use of OHSU’s Name. 

 

	 	(a)	 Licensee agrees that it is a startup of OHSU and as such the Parties agree that a press release will be
released noting this fact. 

  

	 	(b)	 At Licensee’s request, Licensee and OHSU will issue a joint press release regarding the existence of this
Agreement in a form acceptable to both Parties. Neither Party will use the name, image, trade or service marks, landmarks, monuments, likeness, logos or any other distinguishing feature of the other Party or any employee of the other Party in any
press release, general publication, advertising, marketing, promotional or sales literature (“Releases”), in each case without the prior written consent of the other Party. Once such consent has been made, the Parties agree
that each shall have the right to use any information contained therein for future Releases. OHSU has the right to state that Licensee and Sublicensees are licensed under the Licensed Technology. At OHSU’s request and approval of each use prior
thereto and to the extent permitted by applicable law, Licensee will include the following statement in its advertising of Licensed Products: “Invented at and licensed by Oregon Health & Science University.” 

  

					
	

	  	CONFIDENTIAL	  	Page 10 of 30

	 	(c)	 Notwithstanding anything to the contrary, OHSU does not directly or indirectly endorse any product or service
provided, or to be provided, by Licensee and/or Sublicensees including the Licensed Product. Licensee will not state or imply any endorsement by OHSU or any of its employees. 

 

	7.5	 Marking. Licensee will mark, and cause each Sublicensee to mark, all Licensed Products with notices of
the Patent Rights and of the conditional license that will enable the Patent Rights to be enforced to their full extent in any country where the Licensed Products are made, used, sold or imported. Licensee will provide evidence of proper marking
upon request by OHSU. 

  

	8.	 BOOKS, RECORDS AND REPORTS 

 

	8.1	 Notice of First Commercial Transfer. Licensee will notify OHSU of the first transfer for commercial
purposes of each Licensed Product in each country in the world within 30 days of each such date. 

  

	8.2	 Quarterly Reports. Commencing on first commercial transfer of any Licensed Product, Licensee will
deliver to OHSU within [***] after the end of each calendar quarter (each, a “Reporting Period”) a written report substantially in the form attached as Appendix C that has been signed by an authorized
official of Licensee. Each report will set forth a full accounting of any amounts due OHSU, including the information necessary or desirable to calculate the amount of (a) the continuing royalty payments due under Section 4.3 above for the
Reporting Period on a country-by-country basis; (b) the licensing remuneration received during the Reporting Period, or if there were no gross sales/Net Sales or
licensing revenue, Licensee will provide a short written statement to OHSU stating that fact; (c) any minimum royalties available as a credit for the Reporting Period; and (d) either the amount due to OHSU for the Reporting Period or the
amount of any prepaid minimum royalties that remain available as a credit to Licensee and that will be carried forward to the next Reporting Period. Licensee will also deliver to OHSU a written report for any payment due under Section 10.2
within [***] after the end of each calendar quarter. 

  

	8.3	 Books and Records. Licensee will keep proper, continuous and complete books and records of account in
accordance with accounting practices generally accepted in the United States. Those books and records will accurately reflect the sales upon which the continuing royalty payments are based and all other information necessary for the accurate
determination of all payments required under this Agreement. Licensee will retain those books and records for at least five years following their creation. 

  

	8.4	 Audits. Upon reasonable written notice, OHSU will have the right to copy, inspect and audit the records
and books of Licensee and Sublicensees a maximum of once each calendar year during normal business hours for the purpose of verifying the correctness of the payments required under this Agreement. Examination of the books and records for any
Reporting Period will not take place more than five years following the end of that Reporting Period. Licensee will, within [***] Licensee receives notice of the amount of any shortfall, pay OHSU that shortfall, plus all applicable late fee charges
as described in Section 4.10(b), plus interest at [***] above the prime rate of interest set forth in The Wall Street Journal on the date of the shortfall notice. The costs and expense of any such audit will be born by OHSU unless the
audit discloses that Licensee underpaid by [***] or more during any Reporting Period, in which case, Licensee will pay the costs and expense of the audit. 

  

					
	

	  	CONFIDENTIAL	  	Page 11 of 30

	8.5	 Startup Reporting. Licensee agrees it is a startup out of OHSU and as such will provide an annual report
substantially in the form of Appendix E. 

  

	9.	 CONFIDENTIAL INFORMATION 

 

	9.1	 If Licensee provides Confidential Information to OHSU, it must do so solely through the authorized
representative of OHSU designated in Section 16.1. Recipient of Confidential Information will protect and keep that Confidential Information secret and will not (a) disclose that Confidential Information to any person other than to
Recipient’s and Sublicensee’s members, employees, consultants, investors, agents and independent contractors with a need to know the Confidential Information to exercise its rights and/or perform its obligations hereunder, and who have
agreed to an obligation of confidentiality and prohibition on use at least as protective of the Confidential Information as this Section 9; or (b) use that Confidential Information for any purpose other than to exercise its rights and
perform its obligations under this Agreement. Recipient’s obligations under Section 9 expire five years following the later of the expiration or termination of this Agreement. 

 

	9.2	 If Recipient is required by law, including Oregon Public Records Law, regulation or court order to
disclose any of the Confidential Information, it will: (a) promptly notify the Disclosing Party; (b) reasonably assist the Disclosing Party to obtain a protective order or other remedy of Disclosing Party’s election; (c) provide
Disclosing Party prior review of any disclosure; (d) only provide that portion of the Confidential Information that is legally required; and (e) make reasonable efforts to obtain reliable assurance that the Confidential Information will be
maintained in confidence. 

  

	9.3	 Given the nature of the Confidential Information and the damage that would result to the Disclosing
Party upon unauthorized disclosure, use or transfer of their Confidential Information to any third party, the Parties agree that monetary damages would not be a sufficient remedy for any breach or threatened breach of this Section 9. In
addition to all other remedies, Disclosing Party will be entitled to seek specific performance and injunctive and other equitable relief as a remedy for any breach or threatened breach of this Section 9. The breaching Party agrees to waive any
requirement for the securing or posting of any bond or the showing of actual monetary damages in connection with such remedy hereunder. 

  

	10.	 PROSECUTION, DEFENSE AND MAINTENANCE OF PATENTS 

 

	10.1	 Prosecution and Maintenance. OHSU will consult with Licensee on material patent matters regarding the
Patent Rights within the Field of Use, and use reasonable good faith efforts to implement all reasonable requests made by Licensee with regard to such matters. Further, OHSU will provide Licensee with copies of all material written communications to
and from any patent office with respect to the patent applications and patents contained in the Patent Rights regarding the Field of Use. Except as stated below, OHSU will not abandon the prosecution of any patent application or abandon or
discontinue the maintenance of any patent or patent application included in the Patent Rights in the Field of Use, without the prior written notification to Licensee. OHSU will endeavor to give Licensee at least [***] prior written notice of its
intent to abandon the prosecution of any patent application or to discontinue the maintenance of any patent or patent application included in the Patent Rights in the Field of Use. However, both Parties agree that

  

					
	

	  	CONFIDENTIAL	  	Page 12 of 30

	 	OHSU will have the sole right without obligation (a) to file, prosecute, maintain and defend; (b) determine whether or not, and where, to file patent applications; (c) to abandon the prosecution of any
patents or patent applications; (d) to institute, defend and conduct all interferences and/or oppositions; and (e) to discontinue the maintenance of any patents or patent applications included within the Patent Rights. Once Licensee has
fully reimbursed OHSU for all Patent Costs and so long as Licensee has fulfilled its obligations in this Agreement and each Technology Addendum, then OHSU shall not unilaterally abandon the prosecution of any patent application or abandon or
discontinue the maintenance of any patent or patent application included in the Patent Rights. If Licensee is in default of this Agreement or any Technology Addendum and the cure period for such default has expired, or if Licensee has not fully
reimbursed OHSU for all Patent Costs, then OHSU may unilaterally abandon the prosecution of any patent application or abandon or discontinue the maintenance of any patent or patent application included in the Patent Rights. 

Once Licensee has fully reimbursed OHSU for all Patent Costs, Licensee may elect at any time by written notice to OHSU to take responsibility
from OHSU for the prosecution and maintenance of the Patent Rights, including the direct payment of all ongoing costs for such prosecution and maintenance. OHSU will cooperate in the transfer of prosecution and maintenance of the Patent Rights to
Licensee as rapidly as practicable and at Licensee’s expense. 
 Licensee will consult with OHSU on material patent matters regarding
the Patent Rights, and use reasonable good faith efforts to implement all reasonable requests made by OHSU with regard to such matters. Further, Licensee will provide OHSU with copies of all material written communications to and from any patent
office with respect to the patent applications and patents contained in the Patent Rights. Licensee will not abandon the prosecution of any patent application or abandon or discontinue the maintenance of any patent or patent application included in
the Patent Rights without the prior written notification to OHSU. Licensee will endeavor to give OHSU at least [***] prior written notice of its intent to abandon the prosecution of any patent application or to discontinue the maintenance of any
patent or patent application included in the Patent Rights at which time OHSU will be responsible for prosecution of the patent application or maintenance of the patent if it chooses to continue prosecution or maintenance of the patent. If Licensee
is in default of this Agreement or any Technology Addendum and a [***] cure period for such default has expired, or if Licensee has not fully reimbursed OHSU for all Patent Costs, then OHSU may assume, at its discretion and with written notice to
Licensee, responsibility for the prosecution and maintenance of the Patent Rights. Licensee will cooperate in the transfer of prosecution and maintenance of the Patent Rights to OHSU as rapidly as practicable and at Licensee’s expense. Prior to
Licensee (i) entering liquidation, (ii) having a receiver or administrator appointed over any assets related to this Agreement, (iii) making any voluntary assignment with or for the benefit of any of its creditors, (iv) ceasing
to carry on business, or any similar event under the law of any foreign jurisdiction, OHSU shall assume, at its discretion, responsibility for the prosecution and maintenance of the Patent Rights and Licensee will transfer the prosecution and
maintenance of the Patent Rights to OHSU immediately 
  

	10.2	 Reimbursement of Ongoing Patent Costs. Licensee agrees to reimburse OHSU for Patent Costs as specified
within each Technology Addendum unless Licensee has surrendered its rights under Section 10.4 below. 

  

	10.3	 Cooperation and Disclosure. Licensee will promptly inform OHSU of all matters that come to its attention
that may affect the preparation, filing, prosecution, defense or maintenance of the Patent Rights. Licensee has a continuing responsibility to keep OHSU informed of its and all Sublicensees’ entity status, including any change from
“small” to “large” entity (as defined by the United States Patent and Trademark Office). 

  

					
	

	  	CONFIDENTIAL	  	Page 13 of 30

	10.4	 Loss of Rights. If Licensee elects not to pay the Patent Costs or does not further pursue the filing,
prosecution, defense and/or maintenance of any patent application or patent in any country or for any patent or patent application, and OHSU acting in reliance on that election ceases to prosecute or defend that patent application or maintain or
defend that patent in that country, then Licensee will not sell any product or provide any processes covered by the claims of that patent as issued, or in the case of an application, covered in the claims as written at the time Licensee notifies
OHSU of its decision not to support the application, unless [***]. Such election shall not relieve Licensee of its obligation to pay OHSU for any Patent Costs owing at the time of such election. If Licensee elects not to pay the Patent Costs for the
filing, prosecution, defense and/or maintenance of any patent application or patent on a worldwide basis, then such patent or patent application will be excluded from the term “Patent Rights” and all rights relating to such patent
application or patents will revert to OHSU without further obligation to Licensee and may be freely licensed by OHSU to others. 

  

	10.5	 Patent Term Extension. The Parties will cooperate in selecting a patent within the Patent Rights to seek
a term extension for or supplementary protection certificate under in accordance with the applicable laws of any country. Each Party agrees to execute any documents and to take any additional actions as the other Party may reasonably request in
connection therewith. 

  

	10.6	 Challenge. In the event Licensee intends to challenge the validity or enforceability of any of the
Patent Rights, Licensee will (a) give OHSU [***] prior written notice; (b) continue to make all payments required hereunder directly to OHSU without the right to pay into escrow or other account any such amounts; [***]. For purposes of
clarity, Licensee agrees that no payment made to OHSU is refundable or may be offset, including any amounts paid under this Agreement prior to or during the period of the challenge, even if the challenge is successful or it is otherwise determined
that the Patent Rights do not include valid claims. 

  

	11.	 PATENT ENFORCEMENT 

 

	11.1	 Enforcement Rights. If either OHSU or Licensee becomes aware of any actual or threatened infringement of
any Licensed Technology, that Party will promptly notify the other of each infringement or possible infringement, as well as any facts that may affect the validity, scope or enforceability of the Patent Rights (the “Infringement
Notice”). The Parties will reasonably cooperate with each other to abate that infringement without litigation. 

  

	 	(a)	 If within [***] after the date of the Infringement Notice, attempts to abate such infringement are
unsuccessful, then Licensee may bring an action to enforce the Patent Rights in the Field of Use at its own expense, provided Licensee first notifies OHSU and carefully considers OHSU’s views before initiating and throughout that suit. In that
case, OHSU will cooperate with Licensee as reasonably requested, at Licensee’s expense, and may be named as a nominal party plaintiff to support such enforcement action. 

 

	 	(b)	 If Licensee fails to bring an action within [***] after the date the Infringement Notice, OHSU may bring an
action at its own expense, in which case Licensee will cooperate with OHSU, including joining the suit as reasonably requested, at OHSU’s expense. The Party initiating and maintaining the action will keep the other Party reasonably apprised of
the status and progress of the litigation. 

  

					
	

	  	CONFIDENTIAL	  	Page 14 of 30

	11.2	 Fees and Costs. In any infringement action brought under Section 11.1(a), Licensee will pay [***].

  

	11.3	 Settlement and Recovery. 

 

	 	(a)	 Licensee agrees OHSU owns the Licensed Technologies, and Licensee will not settle any action or other
proceeding in any manner that includes an admission of fault and/or is prejudicial to OHSU, including any of the rights regarding the Licensed Technologies, without OHSU’s prior written approval. 

 

	 	(b)	 Any recovery made by Licensee, through court judgment or settlement, will be applied first to [***], and
second, to [***]. However, Licensee shall not be required to reimburse OHSU for royalties that it would have received beyond the total amount that Licensee receives through court judgment or settlement. [***]. Should OHSU be made a Party to any suit
described in Section 11.1(a), [***] as a result of and in opposing that action. 

  

	 	(c)	 Both Parties acknowledge that in the event that patent enforcement litigation occurs at any time after the
commercialization of a vaccine product covered by Patent Rights in this Agreement, one or more Sublicensees will need to be integrally involved in the litigation proceedings and may have significant economic stakes in the outcome of such
proceedings. In such an event, the Parties agree to use reasonable efforts to renegotiate this Section 11.3 of this Agreement in a manner that takes into account the involvement of Sublicensee(s) in the proceedings and their economic interests
in the outcome of such proceedings. 

  

	12.	 REPRESENTATIONS, WARRANTIES AND DISCLAIMERS 

 

	12.1	 Mutual Representations and Warranties. Each Party represents and warrants to the other that (a) it
is and will be at all times during the Term a valid legal entity existing under the law of its state of incorporation with the power to own all of its properties and assets and to carry on its business as it is currently being conducted; and
(b) the execution and delivery of this Agreement has been duly authorized and no further approval, corporate or otherwise, is required in order to execute this binding Agreement. 

 

	12.2	 Disclaimers. NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY NOT EXPRESSLY SET FORTH IN SECTION 12.1,
AND EXPRESSLY DISCLAIMS ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, COURSE OF DEALING, USAGE, AND TRADE PRACTICE, WITH RESPECT TO THE SCOPE,
VALIDITY OR ENFORCEABILITY OF THE LICENSED TECHNOLOGIES; THAT ANY PATENT WILL ISSUE BASED UPON ANY OF THE PENDING PATENT RIGHTS; OR THAT THE MANUFACTURE, USE, SALE, OFFER FOR SALE OR IMPORTATION OF ANY LICENSED PRODUCTS WILL NOT INFRINGE PROPERTY
RIGHTS. IN NO EVENT WILL OHSU BE LIABLE FOR LOSS OF PROFITS, LOSS OF USE, OR ANY OTHER CONSEQUENTIAL, INCIDENTAL, SPECIAL OR PUNITIVE DAMAGES. NOTHING WILL LIMIT OHSU’S REMEDIES OR ABILITY TO RECOVER DAMAGES IN THE EVENT OHSU ASSERTS ITS
INTELLECTUAL PROPERTY RIGHTS, INCLUDING INCREASED DAMAGES FOR WILLFUL INFRINGEMENT. 

  

					
	

	  	CONFIDENTIAL	  	Page 15 of 30

	12.3	 Prohibition Against Inconsistent Representations. Licensee will not make any statements, representations
or warranties, or accept any liabilities or responsibilities whatsoever which are inconsistent with any term or condition of this Agreement. 

  

	13.	 INSURANCE 

  

	13.1	 Licensee will maintain general and product liability insurance with deductibles and minimum limits of
liability in amounts commensurate with industry standards and sufficient to satisfy its obligation hereunder, including Section 14.1. Evidence of insurance will be provided to OHSU upon request. 

 

	14.	 INDEMNIFICATION 

 

	14.1	 Licensee will indemnify, defend and hold harmless OHSU, its directors, trustees, officers, employees,
students, fellows, agents, consultants, the sponsors of the research that led to the Licensed Technologies and the Inventors (“OHSU Indemnitees”) from and against all claims, liabilities, demands, damages, costs, expenses (including
attorney fees and costs) and losses, including (a) for death, personal injury, illness and property damage arising from or relating in any way to this Agreement, including the Licensed Products; (b) the use or misuse of the Licensed
Technologies and/or Licensed Products by or on behalf of Licensee, Sublicensees, their customers, suppliers, independent contractors and other third persons; (c) the design, manufacture, distribution, storage, sale, import and/or use of any
Licensed Products or other products or processes developed in connection with or arising out of the Licensed Technologies; and (d) Licensee’s and/or Sublicensees’ negligence and willful malfeasance. OHSU will reasonably cooperate with
Licensee, at Licensee’s expense, in the defense of such action; provided that under no circumstances will Licensee or any party acting on its behalf make any admissions of fault or impose any material obligation on OHSU Indemnitees, including
with respect to the Licensed Technologies. 

  

	14.2	 To the extent necessary to satisfy its obligations to OHSU under Section 14.1, Licensee hereby
waives any immunity or exemption from liability for the personal injury or death of its employees that may exist under, or any right to receive contribution from OHSU created by, the workers’ compensation laws of the state where the injury
occurs or the employee is located. 

  

	15.	 TERM AND TERMINATION 

 

	15.1	 Expiration. This Agreement is effective as of the Effective Date and unless sooner terminated under this
Section 15, will expire at the end of the Term. 

  

	15.2	 Termination by Either Party. 

 

	 	(a)	 Either Party may terminate this Agreement, and/or any Technology Addendum, if the other Party commits a breach
and fails to remedy such breach within 30 days after receiving written notice. If OHSU is unable to determine Licensee’s and its Sublicensee’s compliance with the terms and conditions of this Agreement, and/or any Technology Addendum,
because Licensee has not provided sufficient communications required by this Agreement and any Technology Addendum, the Parties agree that such failure to provide will also be deemed evidence of Licensee’s failure to perform activities to which
were to be reported in such communications. 

  

					
	

	  	CONFIDENTIAL	  	Page 16 of 30

	 	(b)	 This Agreement will terminate if the other Party enters liquidation, has a receiver or administrator appointed
over any assets related to this Agreement, makes any voluntary assignment with or for the benefit of any of its creditors, or ceases to carry on business, or any similar event under the law of any foreign jurisdiction. If either Party enters into
any of the above actions inadvertently, and such Party fails to remedy such inadvertent action within 30 days of such action, then this Agreement will terminate immediately. 

 

	15.3	 Licensee’s Termination Rights. At any time following the first anniversary of the Effective Date,
Licensee may terminate this Agreement by giving OHSU 60 days’ written notice, paying OHSU all sums then due and payable, and making a termination payment of [***], except in the case where [***]. 

 

	15.4	 Termination by OHSU. OHSU does not license its rights to entities that bring suit against it and as
such, OHSU may immediately terminate this Agreement if Licensee or any Sublicensees directly or indirectly bring any business-related action or proceeding against OHSU, including any pertaining to tangible or intellectual property owned by OHSU
unless such suit is for an uncured material breach of this Agreement by OHSU. 

  

	15.5	 Consequences of Expiration/Termination. Upon expiration or earlier termination of this Agreement for any
reason whatsoever: 

  

	 	(a)	 All Technology Addendums shall terminate; 

 

	 	(b)	 Licensee will immediately discontinue, and will cause its Sublicensees to immediately discontinue, the
manufacture, use, marketing, importation and sale of all Licensed Products; 

  

	 	(c)	 Neither Party will be discharged from any liability or obligation to the other Party that arose, accrued or
became due before the effective date of expiration or termination; 

  

	 	(d)	 Within [***] after the expiration or earlier termination of this Agreement for any reason, Licensee will submit
a final report in form and content similar to the Quarterly Report and pay all amounts required to be paid to OHSU under this Agreement, including the prorated minimum annual license maintenance payment and minimum annual royalty payments;

  

	 	(e)	 Sections that by their nature prescribe continuing rights and obligations will survive until their purposes are
fulfilled, including Section 7 (Restrictions), 8 (Books, Records and Reports), 9 (Confidential Information), 12 (Representations, Warranties and Disclaimers), 13 (Insurance), 14 (Indemnification) and 16 (General Provisions);

  

	 	(f)	 Each Party will promptly return or destroy the Confidential Information of the other Party (except that each
Party may retain one copy of the other Party’s Confidential Information solely for archival purposes), and will deliver a certificate signed by one of its authorized officers that it has done so; and 

 

	 	(g)	 All rights licensed or transferred by OHSU to Licensee under this Agreement will revert to OHSU, all
sublicenses will terminate, and Licensee agrees to execute and deliver all instruments necessary or desirable to effectuate the foregoing. In the case where Licensee has had direct responsibility for prosecution and maintenance of the Patent Rights,
Licensee shall do everything necessary to revert patent prosecution back to OHSU. 

  

					
	

	  	CONFIDENTIAL	  	Page 17 of 30

	16.	 GENERAL PROVISIONS 

 

	16.1	 Notices. All notices or other communications given hereunder shall be in writing, shall be signed by an
officer of the Party sending such notice or other communication, and shall be delivered by hand, by overnight courier, by electronic mail or by facsimile with all delivery charges prepaid and addressed to the Parties as follows:

 If to OHSU: [***] 

If to Licensee: [***] 

Communications under Sections 10 and 11 may also be made by verbal disclosure in person and/or telephonically. All such notices and
communications will be effective on the date delivered, if in person or telephonically, on the date of the postmark of that notice or communication if by courier, and on the date of the date stamp of that notice or communication if by electronic
mail or facsimile. Either Party may change its address by giving notice of that change to the other Party. 
  

	16.2	 Waivers. Neither Party will be deemed to have waived any of its rights under this Agreement until it has
signed a written waiver of those rights. Without limiting the preceding, no failure or delay by either Party in exercising any rights, powers or remedies under this Agreement will operate as a waiver of any such right, power or remedy, and no waiver
will constitute a waiver of any other provision, breach, right or remedy, nor will any waiver constitute a continuing waiver or be effective except for the specific instance and for the specific purpose given. 

 

	16.3	 Amendments. If either Party wishes to modify this Agreement or any Technology Addendum, the Parties will
confer in good faith to determine the desirability of such modification. No modification will be effective until a written amendment is signed by both Parties. 

 

	16.4	 Assignment. Except upon the sale, assignment or transfer of substantially all assets of Licensee to a
third party, Licensee will not assign or transfer its interests in nor delegate its obligations under this Agreement or any Technology Addendum, whether by transfer, merger, operation of law or otherwise without OHSU’s written consent, which
will not be unreasonably withheld. A Change of Control of Licensee (voting or otherwise) will not be deemed an assignment for purposes of this Section 16.4. This Agreement will be binding on and inure to a Party’s successors and assigns.
OHSU has the right to assign its Licensed Technologies and this Agreement to any successor or assign. Licensee shall notify OHSU of any and all such sales, assignments or transfers within a reasonable time period of such action being finalized.

  

	16.5	 Governing Law; Jurisdiction and Venue. This Agreement will be governed by and construed in accordance
with the laws of the State of Oregon without reference to any choice of law provisions, the Uniform Commercial Code or the International Convention on the Sale of Goods. Subject to Section 16.7, any claim, action or suit between OHSU and
Licensee and/or Sublicensee that arise out of or relate to this Agreement and that is not barred by sovereign immunity will be brought and conducted solely and exclusively within the Circuit Court for Multnomah County, Oregon, provided however, if
any such claim, action or suit may be brought only in a federal forum or pertains to the enforcement of the Patent Rights, and does not waive sovereign immunity on behalf of OHSU unless OHSU so elects at that time, such claim, action or suit will be
brought and conducted solely and exclusively within the United States District Court of Oregon and Licensee and/or Sublicensee consents to the jurisdiction of and venue in those courts. Nothing herein will be construed as a waiver of sovereign
immunity. 

  

					
	

	  	CONFIDENTIAL	  	Page 18 of 30

	16.6	 Severability. The terms and conditions of this Agreement are severable. If any term or condition of this
Agreement is rendered invalid or unenforceable by any law or regulation, or declared null and void by any court of competent jurisdiction, that part will be reformed, if possible, to conform to law, and if reformation is not possible, that part will
be deleted in such jurisdiction only and the remainder of the terms and conditions of this Agreement as well as the invalid or unenforceable term or condition in all jurisdictions where valid and enforceable will remain in full force and effect,
unless enforcement of this Agreement without the invalid or unenforceable term or condition would be grossly inequitable under the circumstances or would frustrate the primary purpose of this Agreement. 

 

	16.7	 Dispute Resolution. The Parties agree to first attempt to settle amicably any controversy or claim
arising out of or relating to this Agreement by providing copies of documents reasonably requested to enable a Party to evaluate its position. If the Parties are unable to settle amicably any controversy or claim then both Parties agree that all
disputes between them arising out of or relating to this Agreement will be submitted to non-binding mediation unless the Parties mutually agree otherwise in writing. Licensee further agrees to include a
similar provision in all agreements with Sublicensees thereby providing for mediation as the first and primary method for dispute resolution between the parties to those agreements. All parties agree to exercise their best effort in good faith to
resolve all disputes in mediation provided, however, nothing will limit OHSU’s remedies or ability to enforce its rights in the Licensed Technology in any jurisdiction or manner. 

 

	16.8	 Independent Contractor; No Agency. Neither Party will be deemed to be the employee, representative,
agent, joint venturer or partner of the other Party for any purpose. Neither Party has the authority to obligate or bind the other, or to incur any liability on behalf of the other, nor to direct the employees of the other. 

 

	16.9	 Interpretation. Both Parties have had the opportunity to have this Agreement reviewed by their
attorneys. Therefore, no rule of construction or interpretation that favors or disfavors either Party will apply to the interpretation of this Agreement. Instead, this Agreement will be interpreted according to the fair meaning of its terms. The
captions or headings of this Agreement are for convenience of reference only. They will not limit or otherwise affect the meaning or interpretation of any provision of this Agreement. The words “includes” and “including” are not
limited in any way and mean “includes or including without limitation.” The word “person” includes individuals, corporations, partnerships, limited liability companies, co-operatives,
associations and other natural and legal persons. The term “and/or” means each and all of the persons, words, provisions or items connected by that term; i.e., it has a joint and several meaning. The word “will” is a synonym for
the word “shall”. All attachments to this Agreement are a part of and are incorporated in this Agreement. 

  

	16.10	 Counterparts; Facsimile Delivery. This Agreement may be executed in one or more counterparts, each of
which will be deemed an original and all of which together will constitute one and the same Agreement. This Agreement may be delivered by facsimile, and when so delivered will have the same force and effect as delivery of an original signature.

  

	16.11	 Entire Agreement. With respect to the Licensed Technologies, this Agreement, including its Appendices
and Technology Addendums that are incorporated herein by reference, is the entire agreement between the Parties and supersedes all prior discussions, representations, warranties and agreements, both written and oral between the Parties, including
but not limited to the Master Exclusive License Agreement dated June 22, 2012. 

  

					
	

	  	CONFIDENTIAL	  	Page 19 of 30

 OHSU: 

OREGON HEALTH & SCIENCE UNIVERSITY 
  

							
	 /s/ Andrew R.O. Watson
	  		  	August 18, 2014
	Andrew R.O. Watson, PhD, CLP	  	                        	  	Date
	Director, Technology Transfer	  		  	
			
	LICENSEE:	  		  	
	TOMEGAVAX, INC.	  		  	
				
	By:	  	 /s/ Andrew R.O. Watson
	  		  	8-18-2014
		  	Signature of Authorized Official	  		  	Date
			
	Printed Name Klaus Frueh	  		  	
			
	Title President	  		  	

  

					
	

	  	CONFIDENTIAL	  	Page 20 of 30

 APPENDIX A 

COMMERCIAL DEVELOPMENT PLAN 
 [***] 

  

					
	

	  	CONFIDENTIAL	  	Page 21 of 30

 APPENDIX B 

FORM OF ANNUAL UPDATE TO THE COMMERCIAL DEVELOPMENT PLAN 
  

To: Oregon Health & Science University (“OHSU”) 

 

			
	From:                                 	 	(“Licensee”)
	Date:                                 	 	

 Period Covered by Report: January 1, 20 through December 31, 20 (the “Reporting
Period”). 
 This Annual Update to the Commercial Development Plan Report (this “Report”) is provided
by Licensee to OHSU pursuant to their Exclusive License Agreement dated                      regarding Invention Disclosure
No(s)                     (the “Agreement”). 
  

	 	1.	 A copy of Licensee’s Commercial Development Plan in effect for the Reporting Period covered by this Report
is attached to this Report as Exhibit A (the “Current Plan”). 

  

	 	2.	 [***] 

  

	 	3.	 A copy of Licensee’s updated Commercial Development Plan, including the anticipated date of first transfer
of Licensed Product for commercial purposes if such transfer has not been made as of the date of this Report, is attached to this Report as Exhibit C (the “New Plan”). 

 

	 	4.	 A listing of any new investigational new drug (IND) application(s) filed on Licensed Products in the past year
with information on which Patent Rights the Licensee believes covers such Licensed Product. 

  

	 	5.	 [***] 

This Report is true, accurate and complete in all material respects. 

 
  

[must be signed and dated by officer of Licensee] 

  

					
	

	  	CONFIDENTIAL	  	Page 22 of 30

 APPENDIX C 

FORM OF QUARTERLY REPORT 
  

					
	Name of Licensee:                     	  		  	Invention Disclosure #                     
			
	Reporting Period:                     	  		  	

  

	A.	 Royalties 

[***] 
  

	B.	 Milestone payments 

  

	C.	 License maintenance payments 

 

	D.	 Sublicensee payments 

[***] 
 THE INFORMATION IN THIS REPORT IS TRUE,
ACCURATE AND COMPLETE FOR THE REPORTING PERIOD SPECIFIED ABOVE. 
  

			
	 LICENSEE:
                                        

	  	
		
	By:
                                         
                                   	  	                    
	 Signature of Authorized Official
	  	Date
		
	 Printed Name
                                         
                   
	  	
		
	 Title
                                         
                                   
	  	

  

					
	

	  	CONFIDENTIAL	  	Page 23 of 30

 APPENDIX D 

LICENSEE’S BUSINESS PLAN 

  

					
	

	  	CONFIDENTIAL	  	Page 24 of 30

 APPENDIX E 

STARTUP REPORTING 
 Reported for the fiscal
year ________ 
 1. Average number of full-time employees during the fiscal year beginning July 1, ending June 30. 

2. Total amount of investment capital raised, including convertible bonds and other sources of equity and debt financing. 

3. Total amount of funding from grants received by Licensee (SBIR, STIR, Foundation, etc). 

4. Joint ventures, including contract manufacturing and co-development for the purpose of Licensed Product development
(please indentify joint ventures with Oregon companies). 
 5. List of Licensed Products under development. 

6. List of Licensed Products currently being sold. 
 7. Total
square footage of space occupied in Oregon for: a) office space, and b) laboratory space. 
  

			
	 LICENSEE:
                                
	  	
		
	 By:
                                         
                               
	  	                    
	       Signature of Authorized Official
	  	 Date

		
	 Printed Name
                                         
               
	  	
		
	 Title
                                         
                               
	  	

  

					
	

	  	CONFIDENTIAL	  	Page 25 of 30

 APPENDIX F 

STOCK ACQUISITION AGREEMENT 

  

					
	

	  	CONFIDENTIAL	  	Page 26 of 30

 APPENDIX G 

FORM OF THE TECHNOLOGY ADDENDUM FOR LICENSEE TO EXCLUSIVELY 

LICENSE OHSU’s RIGHTS IN FUTURE PATENTS JOINTLY OWNED BY BOTH PARTIES 

FROM OHSU (NOT APPLICABLE FOR ANU FUTURE PATENTS BY OHSU, LICENSEE 

AND ANY ADDITIONAL THIRD PARTY) 
 This
Technology Addendum No. _ (this “Technology Addendum”), dated and effective as of (DATE) (the “Technology Addendum Effective Date”), is between the Oregon Health & Science University, having offices at 0690
SW Bancroft Street, Portland, Oregon 97239 (“OHSU”), and TomegaVax, Inc., having offices at 12909 SW 68th Parkway, Suite 430, Portland, Oregon 97223-8387
(“Licensee”). OHSU and Licensee are herein referred to each as a “Party” and collectively as the “Parties.” 
  

	1.	 BACKGROUND 

  

	1.1	 OHSU and Licensee have entered into a Master Exclusive License Agreement dated June 22, 2012 (the
“Agreement”) and subsequently revised and restated on (DATE). 

  

	1.2	 OHSU has certain inventions and discoveries generally described in OHSU Invention Disclosure entitled
(TITLE) (the “Invention”). 

  

	1.3	 OHSU desires the Invention to be utilized for the public benefit to the fullest extent possible.

  

	1.4	 Licensee intends to bring together the scientific and business talent, facilities and capital to develop
and market products and processes based upon the Invention. 

  

	1.5	 Licensee wishes to obtain from OHSU, and OHSU is willing to grant to Licensee, a license to exploit the
Invention subject to the terms and conditions set forth in the Agreement and set forth below. 

  

	2.	 DEFINITIONS 

Capitalized terms used in this Technology Addendum shall have the meaning as set forth in the Agreement unless otherwise stated herein. 

 

	2.1	 “Addendum Term” means the period beginning on the Technology Addendum Effective Date
and ending on the date when (a) the last patent and patent application included within the Patent Rights have expired, been abandoned, or been finally adjudicated as invalid or unenforceable by a
non-appealable order; or (b) 10 years, whichever is later. 

  

	2.2	 “Field of Use” means all fields of use. 

“Licensed Product” means (a) any method, procedure, service or process that incorporates, uses, used, is covered by,
infringes or would infringe any Licensed Technology but for the exception in 35 U.S.C. §271(e)(1), or similar exception in the U.S. or foreign jurisdictions; and (b) any apparatus, material, equipment, machine or other product that
incorporates, uses, used, is covered by, infringes or would infringe any Licensed Technology but for the exception in 35 U.S.C. §271(c)(1), or similar exception in the U.S. or foreign jurisdictions. 

  

					
	

	  	CONFIDENTIAL	  	Page 27 of 30

	2.3	 “Licensed Technology” means a pending or issued claim of the Patent Rights.

  

	2.4	 “Patent Rights” means the patents and patent applications listed on Appendix A to this
Technology Addendum, PCT, U.S. and foreign applications thereon, including continuations, continuations-in-part (but only to the extent of subject matter therein that is
described sufficiently in the patents and patent applications listed on Appendix A to satisfy the requirements of 35 U.S.C. §112) and divisionals, patents issuing from any of the foregoing, and reissues, extensions, supplementary protection
certificates, substitute applications, and reexaminations of any of the foregoing. 

  

	3.	 GRANT OF RIGHTS 

Exclusive Patent License. Subject to the terms and conditions of this Technology Addendum and the Agreement, and Licensee’s
compliance therewith, OHSU grants to Licensee an exclusive, worldwide and nontransferable (except as provided below) license in the Field of Use under the Patent Rights, to make, have made, use, offer to sell, sell, have sold, export and import
Licensed Products for the Field of Use. 
  

	4.	 PAYMENTS 

As partial consideration for the rights granted to Licensee under this Technology Addendum, in addition to the payments described in the
Agreement, Licensee will pay OHSU the following: 
  

	4.1	 Additional Royalty Payments. In addition to the Royalty Payments described in Section 4.3 of the
Agreement, Licensee shall pay OHSU an additional royalty of [***] on all Net Sales of any Licensed Products (for the second Technology Addendum for jointly held patents exclusively licensed by OHSU to Licensee and any subsequent such Technology
Addendums, the additional royalty amount will be [***] per patent). 

  

	4.2	 Reimbursement of Patent Costs. Within [***] after the Technology Addendum Effective Date, Licensee will
pay OHSU for any Patent Costs (if any) on the Patent Rights incurred by OHSU as of the date of signing of this Technology Addendum. Licensee agrees to reimburse OHSU for all additional Patent Costs incurred on the Patent Rights within [***] of
invoice unless Licensee has surrendered its rights under Section 10.4 of the Agreement. 

  

	5.	 COMMERCIALIZATION 

 

	5.1	 Diligence. Licensee will diligently develop, manufacture or have manufactured, market and sell Licensed
Products as soon as practicable consistent with reasonable business practices and judgment and any obligations to the U.S. government specified in the Agreement. Licensee shall follow the diligence benchmarks as described in Section 6.1 of the
Agreement. 

 Commercial Development Plan. Licensee will perform substantially as described in the Commercial Development
Plan attached as Appendix A to the Agreement. 

  

					
	

	  	CONFIDENTIAL	  	Page 28 of 30

	6.	 TERM AND TERMINATION 

 

	6.1	 Expiration. This Technology Addendum is effective as of the Technology Addendum Effective Date and
unless sooner terminated under this Section 6, or as specified in the Agreement, will expire at the end of the Addendum Term. 

  

	7.	 GENERAL PROVISIONS 

 

	7.1	 Interpretation. Both Parties have had the opportunity to have this Technology Addendum reviewed by their
attorneys. Therefore, no rule of construction or interpretation that favors or disfavors either Party will apply to the interpretation of this Technology Addendum. Instead, this Technology Addendum will be interpreted according to the fair meaning
of its terms. The captions or headings of this Technology Addendum are for convenience of reference only. They will not limit or otherwise affect the meaning or interpretation of any provision of this Technology Addendum. The words
“includes” and “including” are not limited in any way and mean “includes or including without limitation.” The word “person” includes individuals, corporations, partnerships, limited liability companies, co-operatives, associations and other natural and legal persons. The term “and/or” means each and all of the persons, words, provisions or items connected by that term; i.e., it has a joint and several
meaning. The word “will” is a synonym for the word “shall”. All attachments to this Technology Addendum are a part of and are incorporated in this Technology Addendum. 

 

	7.2	 Counterparts; Facsimile Delivery. This Technology Addendum may be executed in one or more counterparts,
each of which will be deemed an original and all of which together will constitute one and the same agreement. This Technology Addendum may be delivered by facsimile, and when so delivered will have the same force and effect as delivery of an
original signature. 

  

	7.3	 Entire Agreement. With respect to the Licensed Technology, this Technology Addendum and the Agreement,
including their Appendices which are incorporated herein by reference, is the entire agreement between the Parties and supersedes all prior discussions, representations, warranties and agreements, both written and oral between the Parties.

 (remainder left intentionally blank) 

  

					
	

	  	CONFIDENTIAL	  	Page 29 of 30

 OHSU: 

OREGON HEALTH & SCIENCE UNIVERSITY 
  

			
	                                      
                                         
 	  	                    
	Name	  	Date
	Title	  	
		
	LICENSEE:	  	
	TOMEGAVA.X, INC.	  	
		
	By:
                                         
                                   	  	                    
	 Signature of Authorized Official
	  	Date
		
	Name	  	
	Title	  	

  

					
	

	  	CONFIDENTIAL	  	Page 30 of 30

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