Document:

EX-10.10

 Exhibit 10.10 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD
BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
 MASTER LABORATORY SERVICES AGREEMENT 

This Master Laboratory Services Agreement (“Agreement”), when signed by the parties, will set forth the terms and conditions between
Silverback Therapeutics, Inc., with its principal offices located at 500 Fairview Avenue North, Suite 600, Seattle, WA 98109, United States (“Customer”) and Q Squared Solutions LLC, with its principal offices located at 5827 South Miami
Blvd, Morrisville, NC 27560, USA (“Q Squared”), under which Q Squared agrees to provide laboratory services to Customer as set forth below. 

Recitals: 
 A. Customer is
in the business of developing, manufacturing and/or distributing pharmaceutical products, medical devices and/or biotechnology products. Q Squared is in the business of providing central laboratory services for the pharmaceutical, medical device and
biotechnology industries and has made significant, up-front investments in technologies related to those industries, building on important inventions and web-based
technologies. 
 B. Customer and Q Squared desire to enter into this Agreement to provide the terms and conditions upon which Customer may
engage Q Squared from time-to-time to provide services for individual studies or projects by executing individual Work Orders (as defined below) specifying the details
of the services and the related terms and conditions. 
 Customer and Q Squared agree as follows: 

1. Services. 
 (a) Description of
Services. Q Squared shall provide project planning, consultation on laboratory design, laboratory analysis, other laboratory services, and/or data management services, as requested by Customer from time to time and agreed to by Q Squared during
the term of this Agreement (collectively the “Services”). 
 (b) Work Order. The specific details of each assignment
or task (each a “Project”) will be specified in writing on terms acceptable to the parties and otherwise subject to the terms and conditions of this Agreement (each such writing, a “Work Order”) substantially in the
form of Attachment B to this Agreement. Each Work Order shall include Central Laboratory Services terms (including a Laboratory Services Document or Central Laboratory Worksheet) which shall describe the nature, scope and timelines for Services
being specifically performed for the applicable study. To the extent there is a conflict between the terms of this Agreement and a Work Order, this Agreement will control, except to the extent that the applicable Work Order expressly and
specifically states an intent to supersede this Agreement on a specific matter. 
 (c) Affiliates. “Affiliate” shall mean
all entities controlling, controlled by or under common control with Q Squared or Customer, as the case may be. The term “control” shall mean the ability to vote more than fifty percent (50%) of the voting securities of any entity or
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having the ability to direct the management and policies of an entity. Q Squared may utilize Affiliates to carry out its obligations under this Agreement or any Work Order and the Q Squared
entity that is the party to the Work Order shall remain responsible for all such Services. Any Affiliate of Q Squared or Customer may enter into a Work Order under this Agreement. The terms, conditions, and rights in this Agreement shall be
incorporated into each Work Order and such Affiliate, notwithstanding the foregoing, shall be solely responsible for the performance of the Services under such Work Order. 

(d) Specimen Storage Limitations. If requested by Customer and agreed by Q Squared, Q Squared will hold specimens in storage at the
conditions (including but not limited to temperature) agreed to between the parties for the time period defined by Customer in the study protocol or the Laboratory Specifications Document and/or Central Laboratory Worksheet, shall have the
obligation to hold specimens at such storage conditions, and shall notify Customer if Q Squared cannot hold specimens at, or if it becomes known to Q Squared that Q Squared is out of conformity with, such storage conditions, provided however, Q
Squared shall not be responsible, in the event that (i) the specimens or any specific analyte do not remain stable and/or suitable for testing, or (ii) stability data is not available during or after that storage time period. Customer
shall ensure it reviews the stability characteristics of the specimen or analyte with Q Squared’s scientific affairs department prior to storage of any of the samples. If the stability is unknown, Customer shall define the specimen type,
storage duration, and testing interval of the specimen or analyte. Q Squared shall be responsible for the archiving and retention of all relevant documentation relating to the Services according to applicable law during the performance of Services,
subject to Section 6 (d) below. 
 (e)
Research-Use-Only Tests. Customer may, from time to time, request that Q Squared performs
research-use-only tests (“RUO Tests”) that have not been cleared or approved by the United States Food and Drug Administration, (or equivalent local regulatory
authority). If Customer requests Q Squared to perform RUO Tests, Customer represents and warrants that Customer and all of Customer’s investigators shall use the results from RUO Tests for research purposes only, and will not use any test
results from RUO Tests for diagnostic or clinical purposes. 
 (f) Testing/Services Performed by Other Parties. Unless determined to
have resulted directly from Q Squared’s gross negligence or willful misconduct, Q Squared shall have no responsibility for or liability in connection with: (a) use of expired supplies by investigators, (b) incorrectly ordered and/or
incompatible supplies issued at Customer’s direction, (c) testing or other services performed, at Customer’s or an investigator’s request, by a third party other than Q Squared, its Affiliates or its referral laboratories, or
(d) testing or procedures performed at any investigator site not pursuant to Q Squared’s instructions. 
 (g) Conduct of
Services. Q Squared shall engage adequately qualified personnel to perform the Services. 
 2. Payment of Fees and Expenses. 

(a) Budget. Each Work Order shall contain a line item budget (“Budget”) for the

  

					
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payment of Q Squared ‘s Services to be performed pursuant to such Work Order as well as additional terms and conditions related to the Budget. Customer will pay Q Squared for the fees,
expenses and pass-through costs in accordance with each Budget. Customer shall reimburse Q Squared for all reasonable and necessary travel, lodging and other expenses (including but not limited to investigator site special requests for supplies that
are not included in the bulk supply kit or other special requests) incurred in the performance of its Services that have been requested or approved by Customer. 

(b) Budget Structure. Customer agrees that the Budget will be structured in an effort to maintain cash neutrality for Q Squared (with
respect to the payment of professional fees, pass-through costs and otherwise). Unless otherwise agreed in the Work Order, Customer shall provide an up-front payment which will be credited to Customer on the
final invoice. The up-front payment will be outlined in each project Budget. Q Squared will draw from these funds in order to pay for Services and related costs and expenses consistent with the terms of this
Agreement. 
 (c) Invoicing. Q Squared operates on a fee for service basis. Q Squared will invoice Customer monthly or as separately
agreed for Services rendered under any Work Order and Customer shall pay all amounts due within [***] days of receipt of the invoice date if an invoice is delivered electronically, or from the date of receipt if Customer requests a paper invoice. If
any portion of an invoice is disputed, then Customer shall pay the undisputed amounts within [***] days of receipt of the invoice, and the parties shall use good faith efforts to reconcile the disputed amounts as soon as practicable. Expenses and
pass-through costs will be supported by a detailed summary sheet. If the Project extends over more than [***], the Budget may be altered to include an annual cost adjustment. Q Squared reserves the right to impose, and Customer agrees to pay if
imposed by Q Squared, interest in an amount equal to [***] percent ([***]%) per month (or the maximum lesser amount permitted by law) of all undisputed amounts owing hereunder, which are outstanding [***] or more days from the due date of the
invoice . If Customer requires a purchase order (“PO”) related to a Q Squared invoice, then Customer will provide the PO prior to invoicing by Q Squared. If no PO is provided, Q Squared will invoice Customer without the PO. If re-submission of an invoice is required based on Customer’s PO requirement or based upon Customer request, Q Squared’s re-submission of that invoice will not change
the due date for payment based on the original invoice. Any provisions contained within a PO that modify, conflict with or contradict any term or provision of this Agreement shall be deemed to be null and void. 

(d) Taxes. Customer shall pay all sales and use taxes, including all applicable goods and services tax, value added tax, local taxes,
applicable duties, electronic delivery taxes, excise taxes, levies and import fees (collectively, “Taxes”) that are imposed by legislation in connection with the provision of Services and that are not recoverable by Q Squared. All fees set
forth in a Work Order are exclusive of Taxes. Where Taxes are paid by Q Squared, Q Squared will provide an invoice, showing the Taxes included. Where any Taxes are paid directly to a tax authority or government by Customer, Customer shall not deduct
this amount from any amount due to Q Squared. The requirements of this provision shall not apply to any employment-related taxes, duties, income taxes or withholding and shall only apply Taxes applicable to the Services. 

  

					
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 (e) Currency Exchange. The currency to be used for invoice and payment shall be the currency
stated in the Budget attached to a Work Order (the “Contracted Currency”). If a currency referenced within the Budget ceases to become legal tender, the applicable replacement currency will be substituted for such currency for the purposes
of this clause using the conversion rate established at www.oanda.com. Customer acknowledges that, due to fluctuations in currency exchange rates, Q Squared’s actual fees and pass-through costs may be greater or lesser than the budgeted or
estimated amounts contained in a Work Order. 
 Unless otherwise provided in a Work Order, if Q Squared incurs pass-through costs in a
currency other than the Contracted Currency, then Customer shall reimburse Q Squared for Q Squared’s actual costs in the Contracted Currency based on the Oanda foreign currency exchange rate for the applicable currencies on the last business
day of the month immediately preceding the month in which such pass-through costs are submitted. 
 If a Work Order involves the performance
of Services by Q Squared or its Affiliates in any country that uses a currency other than the Contracted Currency, then the Budget for those Services will be based on the local rates in the currency used by Q Squared for pricing in that country, but
converted to and reflected in the Contracted Currency. If the fees for Services under a Work Order exceed the equivalent of [***] US dollars ($[***]) (based on the assumptions in the Budget), and the conversion rate between the local currencies and
the Contracted Currency has fluctuated more than [***]-percent ([***]%) plus or minus, since the budget was prepared, Q Squared may calculate a foreign currency exchange adjustment. The adjustment will be calculated every [***] after the contract
execution date, by comparing the foreign currency exchange rate stated in the Budget attached to the Work Order to the Oanda average rate (unless provided otherwise in a Work Order) over the preceding [***]. Any resulting decrease in costs will be
immediately credited to Customer and any resulting increase in costs will be invoiced to Customer, and shall be due for settlement without delay. 

Inflation. If the Services are provided by Q Squared over multiple calendar years, the budget and payment schedule will incorporate the Inflation
Factor to Service fees for future year costs at the time the Work Order is executed by both parties, on a prospective basis only, and the Inflation Factor (defined below) shall remain fixed for the duration of the Work Order and subsequent Change
Orders to the Work Order. The Inflation Factor shall be calculated using a blend of [***] (“Inflation Factor”). 
 (f)
Information Requests. To the extent not publicly available, and upon showing of good cause, at Q Squared’s request, Customer shall promptly share financial details (such as audited financials) once per calendar year that demonstrate
Customer’s continuing ability to meet its payment obligations under this Agreement and associated Work Orders (each, an “Information Request”). Additionally, Customer shall promptly notify Q Squared upon becoming insolvent or
commencing bankruptcy proceedings. Any information shared with Q Squared pursuant to an Information Request will be subject to Q Squared’s obligations of confidentiality set forth in Section 5(a). 

  

					
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 3. Term and Termination. 

(a) This Agreement shall commence on the date it has been signed by all parties (hereinafter “Effective Date”) and shall continue for
a period of five (5) years from the Effective Date, or until terminated by either party in accordance with this Section 3. The Agreement will automatically renew each year thereafter for a period of one (1) year, unless either party
notifies the other party in writing at least thirty (30) days prior to the renewal date that the notifying party is electing not to renew the Agreement. If this Agreement is terminated but a Work Order issued under this Agreement is not
terminated, the terms of this Agreement will continue to apply to such Work Order as if the Agreement had not been terminated. 
 (b) This
Agreement or any Work Order may be terminated with or without cause by Customer or by Q Squared at any time during the term of this Agreement on ninety (90) days prior written notice to Q Squared or Customer, as appropriate. 

(c) Either party may terminate this Agreement or any Work Order for material breach upon thirty (30) days written notice specifying the
nature of the breach, if such breach has not been substantially cured within the thirty (30) day period. In the event that Q Squared determines, in its sole discretion, that its continued performance of the Services contemplated by a Work Order
would constitute a potential or actual violation of regulatory or scientific standards of integrity, Q Squared may terminate this Agreement or the applicable Work Order by giving written notice stating the effective date of such termination (which
may be less than thirty (30) days from the notice date) of such termination, provided, however, in the event payment obligations are breached, Q Squared may at its discretion upon providing [***] notice thereof, cease extension of credit
privileges to Customer, suspend Services (including data transmission) and withhold payment of refunds to Customer until such undisputed amounts are paid. 

(d) Either party may terminate this Agreement or any Work Orders immediately upon provision of written notice if the other party becomes
insolvent or files for bankruptcy. Any written termination notice shall identify the specific Work Order or Work Orders that are being terminated. 

(e) Termination of a Work Order shall constitute a termination of that particular Work Order only and shall not affect this Agreement or any
other Work Orders outstanding hereunder. Any written termination notice shall identify each specific Work Order that is being terminated. 

(f) In the event this Agreement is terminated, Customer shall pay to Q Squared: (i) any fees for services rendered then due and owing to
Q Squared because of any performance of Q Squared’s obligations hereunder and all expenses reasonably incurred in performing those Services; (ii) all actual costs (including time spent by Q Squared personnel, which shall be billed at Q
Squared standard rates) to complete activities associated with the termination and close out of projects; and (iii) all kit destruction costs as noted in each Work Order. Upon the termination of this Agreement, Q Squared shall either:
(i) return to Customer, or (ii) dispose of at the direction and written request of Customer (or as more particularly specified in the Work Order), all data and materials provided by Customer to Q Squared for the conduct of Services under
this Agreement. 

  

					
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 (g) Termination of this Agreement or any Work Order hereunder shall not constitute a release
or waiver of any right or remedy available to either party in connection herewith or therewith. 
 (h) Defective Services. In the
event Q Squared fails to comply with the Work Order specifications and/or this Agreement in its performance of Services and such failure is not a direct result of any material act or omission by Customer or any other third party (“Defective
Services”), Customer may require Q Squared to re-perform the Defective Services within an agreed time period after receipt of Customer’s notice at Q Squared’s cost (subject to re-supply by Customer of any materials, data or information at Customer’s cost). If no such re-performance is reasonably possible in the context of the Work Order and its
schedules and timelines, Q Squared shall reimburse Customer for the reasonable third party costs incurred to remedy such non-compliance or reimburse Customer for the reasonable,
out-of-pocket costs incurred to remedy the non-compliance, or only if such remediation is not reasonably possible, refund the portion of the fees paid to Q Squared
attributable to the Defective Services, subject in each case to Section 10 below. 
 4. Change Orders. Any material change in the details of the
scope of Services set forth in a Work Order or the assumptions upon which the Work Order is based (including, but not limited to, changes in the expected number of investigators, number or schedule of visits, testing requirements, anticipated
commencement date, length of project or overall protocol specific database design) may require changes in the Budget and/or time lines, and shall require a written amendment to the Work Order (a “Change Order”). In such event or if the
Services are delayed for reasons beyond the control of the parties, the parties will cooperate with each other in good faith in reaching agreement with respect to any corresponding increase or decrease in the scope of the Work Order, Work Order
budget, and associated changes in the schedule of payments, timeline and/or schedule or other items associated with the Work Order. All Change Orders will be in writing and signed by duly authorized officers of each of the parties. [***]. 

5. Confidentiality. 
 (a) It is
understood that during the term of this Agreement and each Work Order issued hereunder, Q Squared and its employees may be exposed to data and information that is confidential and proprietary to Customer. All such data and information
(“Customer Confidential Information”) written or verbal, tangible or intangible, made available, disclosed or otherwise made known to Q Squared and its employees as a result of Services under this Agreement shall be considered confidential
and shall be considered the sole property of Customer . All information regarding Q Squared’s and its Affiliate’s operations, laboratory methods, pricing, and laboratory management and all Q Squared Property (as defined in Section 6
below), disclosed by Q Squared or its Affiliates to Customer or its Affiliates in connection with this Agreement is proprietary, confidential information belonging to Q Squared (the “Q Squared Confidential Information”). Q Squared
Confidential Information together with the Customer Confidential Information, shall be the “Confidential Information.” The Confidential Information shall be used by the receiving party 

  

					
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and its employees only for purposes of performing the receiving party’s obligations hereunder. Each party agrees that it will not reveal, publish or otherwise disclose the Confidential
Information of the other party to any third party without the prior written consent of the disclosing party, provided, however, that Q Squared may disclose limited Confidential Information as necessary in furtherance of a project hereunder, provided
that such third party [***] is not a competitor of Customer and is bound by confidentiality obligations substantially similar to those set forth herein, otherwise such disclosure to a third party requires Customer’s written consent. Each party
agrees that the terms of this Agreement and any Work Order shall be considered Confidential Information, and each party agrees that it will not disclose the terms of this Agreement or any Work Order to any third party without the written consent of
the other party, which shall not unreasonably be withheld. These obligations of confidentiality and nondisclosure shall remain in effect for a period of [***] after the completion or termination of the applicable Work Order. For the avoidance of
doubt, the parties agree that the term Confidential Information shall include data and information disclosed in connection with potential services hereunder, even if the parties do not enter into a Work Order for such services, and if no Work Order
is executed such data and information shall be subject to this Agreement’s confidentiality provisions for a period of [***] from the time of disclosure. 

(b) The foregoing obligations shall not apply to Confidential Information to the extent that it: (i) is or becomes generally available to
the public other than as a result of a disclosure by the receiving party; (ii) becomes available to the receiving party on a non-confidential basis from a source which is not prohibited from disclosing
such information by a legal, contractual or fiduciary obligation to the disclosing party; (iii) was developed independently of any disclosure by the disclosing party or was known to the receiving party prior to its receipt from the disclosing
party, as shown by contemporaneous written evidence; or, (iv) is required by law or regulation to be disclosed; provided, however, that each party shall notify the other party in writing prior to making any disclosure pursuant to this
subsection “(iv)”, including but not limited to disclosures to the Securities Exchange Commission, FDA or any other governmental agency, unless prior notification is precluded by law or regulation or where enforcement action by applicable
authority precludes prior notification, in which case the party will notify the other party as soon as reasonably practicable. For the avoidance of doubt, any disclosures made under these subsections “(i)” to “(iv)” shall be
strictly limited to the information covered by the applicable subsection, and any Confidential Information not specifically covered by the exceptions in those subsections shall be redacted prior to disclosure of the relevant documents or materials.

 6. Property Ownership. 
 (a) All
data and information necessary for Q Squared to conduct project assignments will be forwarded by Customer to Q Squared, and all such information received from Customer shall remain the property of Customer. 

(b) All data and information generated or derived by Q Squared as the result of services performed by Q Squared under this Agreement and which
are provided by Q Squared to Customer as deliverables under this Agreement shall be and remain the property of Customer, excluding Q 

  

					
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Squared Property (“Customer Property”). Any inventions that may evolve from the data and information delivered to Customer as the result of services performed by Q Squared under this
Agreement shall belong to Customer, and Q Squared hereby assigns its rights in any inventions and/or related patents to Customer, excluding that which relates to or constitutes Q Squared Property. 

(c) Q Squared and its affiliates own all right, title, and interest in and to the data, data models, databases, inventions, processes, know-how, copyrights, trade secrets, laboratory analysis, analytical and laboratory methods, procedures and techniques, technical expertise and conceptual expertise in area of laboratory services, manuals, personnel
data, pricing, financial information, technical expertise, software, and other intellectual property rights that (a) exist prior to the Effective Date or (b) are independently developed by or for Q Squared and its affiliates; and any
improvements, modifications and enhancements made to the foregoing during the term of this Agreement (collectively, “Q Squared Property”). Q Squared Property shall also include its proprietary systems, platforms and applications (“Q
Squared Technology”). If any Q Squared Property is included in any deliverable provided by Q Squared to Customer under this Agreement (“Included Q Squared Property”), Q Squared grants to Customer and/or its Affiliates a non-exclusive,
worldwide, royalty free license to use (but not to sell) such Included Q Squared Property, solely to the extent reasonably necessary for Customer to use or otherwise exploit the Customer Property for intended purposes, provided such Included Q
Squared Property is licensed to Customer “AS IS” without warranty of any kind, express or implied and that Q Squared has no liability to Customer of any kind, whether direct or indirect, arising out of or in connection with such Included Q
Squared Property. No proprietary IQVIA data assets or any Q Squared Technology shall constitute Included Q Squared Property, and Q Squared represents that, to the best of its knowledge, such IQVIA data assets or Q Squared Technology are not
necessary for Customer’s use of the anticipated deliverables. 
 (d) At the completion of the services by Q Squared in the applicable
Work Order, all data and deliverables generated by Q Squared as a result of the services shall be provided to Customer by electronic means or as more particularly specified in the Work Order, subject to the payment obligations set forth in
Section 2 herein; and any materials, equipment or information furnished by Customer for conduct of the services shall either be: (i) returned to Customer, or (ii) disposed of at the direction and written request of Customer (or as
more particularly specified in the Work Order). Q Squared, however, reserves the right to retain, at its own cost and subject to the confidentiality provisions herein, one (I) copy of all documents and materials relating to the Services, to be
used solely to satisfy regulatory requirements or to resolve disputes regarding the Services. All electronic and paper laboratory data required for internal business records shall be retained by Q Squared according to its Global Records Retention
Schedule. At the end of such period(s), Q Squared will destroy all paper laboratory data. Nothing in this Agreement shall be construed to transfer from Customer to Q Squared any FDA or regulatory record-keeping requirements. 

7. Regulatory Compliance; Inspections. 

(a) In carrying out its responsibilities under this Agreement and each Work Order, Q 

  

					
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Squared agrees that its Services will be conducted in compliance with all applicable laws, rules and regulations, including but not limited to the United States Food, Drug and Cosmetic Act and
the regulations promulgated pursuant thereto, ICH GCP Guideline, United Kingdom SI 2004 No. 1031 Part 2 (and as amended), where applicable, and with the standard of care customary in the central laboratory industry. Q Squared’s standard
operating procedures will be used in performance of the Services, unless otherwise specifically stated in the applicable Work Order. 
 (b)
Customer warrants and represents that neither any assignment or task-requested by Customer, nor the conduct thereof, as provided in this Agreement or in any Work Order, shall violate any applicable law or regulation. Customer shall notify Q Squared
promptly in writing of any FDA or other governmental inspection or inquiry concerning any services that have been rendered or are being rendered by Q Squared, or any study or Project to which such Services relate. 

(c) Q Squared certifies that it has not been debarred under the United States Generic Drug Enforcement Act, or any applicable law in any other
country, and that Q Squared will not knowingly employ any person or entity that has been so debarred to perform Services under this Agreement or any Work Order. Q Squared shall promptly notify Customer upon becoming aware of any inquiry concerning,
or the commencement of any proceeding or disqualification that is the subject of this Section 7(c). 
 (d) In accordance with 21 CFR
§50.25 and ICH GCP 4.8 (Informed Consent of Trial Subjects), Customer shall be responsible to ensure that all subjects (involved in clinical studies to which the Services of this Agreement and the applicable Work Order shall apply) shall
provide a valid consent pertaining to its Services performed hereunder, will understand the nature and purpose of the consent it provides to allow itself to be a participant in the clinical study including the removal and testing of its bodily fluid
samples and/or tissue samples as appropriate. Customer shall inform Q Squared immediately, in writing, if any such subject(s) are withdrawn from the clinical study. Q Squared shall promptly communicate to the Customer any serious breaches of the
Protocol and Good Clinical Practices, and Customer shall be responsible to promptly report such breaches to the Medicines and Healthcare products Regulatory Agency (“MHRA”), or to the equivalent local regulatory agency. 

(e) Each party acknowledges that the other party may respond independently to any regulatory correspondence or inquiry in which such party or
its Affiliates is named. Each party, however, shall notify the other party promptly of any FDA or other governmental or regulatory inspection or inquiry concerning any study or Project of Customer for which Q Squared is providing Services. During
any such inspection or inquiry, the parties agree to make reasonable efforts to disclose only the information required to be disclosed. 

(f) During the term of this Agreement and each Work Order, Q Squared will permit Customer’s representative(s) (provided that such
representatives shall not be competitors of Q Squared), prior to any audit, Customer shall procure that its non-employee representative enter into a confidentiality agreement with Q Squared on terms at least
as stringent as the confidentiality terms herein) to examine or audit the work performed hereunder and the specific facilities at which the work is conducted during regular business hours, upon reasonable advance written notice and

  

					
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in a reasonable manner to determine that the project assignment is being conducted in accordance with the task in the applicable Work Order and that the facilities are adequate; provided however,
that all information disclosed or revealed to or ascertained by Customer in connection with any such audit or examination or in connection with any correspondence between Q Squared and any regulatory authorities (including any notice of violation or
potential violation of local law or regulations such as FDA Form 483 notices) shall be deemed to constitute Q Squared Confidential Information for the purposes of this Agreement. Unless the costs of governmental or Customer audits are specifically
included in the Budget, and except for [***], Customer shall, upon request, reimburse Q Squared’s time and expenses (including reasonable attorney fees and the costs of responding to findings) associated with any inspection, audit or
investigations relating to the Services (“Inspection”) instigated by Customer or by a governmental authority, unless such Investigation finds that Q Squared breached this Agreement or any applicable law or regulation. 

(g) Anti-Bribery. Each party undertakes to the other party that: (i) it will not, and will procure that each of its employees,
directors, officers, affiliates, subcontractors and agents will not, (1) offer, promise or give an advantage to another person, or (2) request, agree to receive or accept a financial or other advantage in violation of any anticorruption
laws, rules, regulations and decrees applicable to the respective party (collectively, “Legislation”), including the United States Foreign Corrupt Practices Act, as amended (the “FCPA”), the United Kingdom Bribery Act 2010 (the
“Bribery Act”) and any implementing legislation under the OECD Convention Against the Bribery of Foreign Government Officials in International Business Transactions (“OECD Convention”). It is each party’s responsibility to
be familiar with, and comply with, the provisions of the applicable Legislation; and (ii) from time to time, at the reasonable request of the other party, it will confirm in writing that it has complied with its undertakings under subsection
(i) above and will provide any information reasonably requested by the other party in support of such compliance. 
 8. Conflict of Agreements. Q
Squared represents to Customer that Q Squared is not a party to any agreement which would prevent Q Squared from fulfilling its obligations under this Agreement, and that during the term of this Agreement, Q Squared will not enter into an agreement
to provide services which would prevent Q Squared from providing the Services contemplated to be provided by Q Squared under this Agreement or any Work Order. Customer agrees that it will not enter into an agreement with a third party that would
alter or affect the regulatory obligations delegated to Q Squared pursuant to any Work Order without the written consent of Q Squared, which will not be unreasonably withheld. 

9. Indemnification. 
 (a) Customer shall
defend, indemnify and hold harmless Q Squared, its Affiliates and its and their respective directors, officers, employees and agents (each, an “Q Squared Indemnified Party”), from and against any and all losses, claims, actions, fines
damages, liabilities, costs and expenses, (including reasonable attorney’s fees and court costs) (collectively, “Losses”), resulting or arising from any third-party claims, actions, proceedings, investigations (including subpoenas

  

					
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or other legal process) or litigation relating to or arising from or in connection with this Agreement or any Work Order or the Services contemplated herein (including, without limitation, any
Losses arising from or in connection with any study, test, device, product or potential product to which this Agreement or any Work Order relates), except to the extent such Losses are determined to have resulted from the gross negligence or
intentional misconduct of the Q Squared Indemnified Party seeking indemnity hereunder or material breach by Q Squared of its obligations under this Agreement or a Work Order. 

(b) Q Squared shall indemnify, defend and hold harmless Customer and its Affiliates, and its and their directors, officers and employees
(each, a “Customer Indemnified Party”), from and against any and all Losses, resulting or arising from any third-party claims, actions, proceedings, investigations or litigation relating to or arising from or in connection with this
Agreement or any Work Order or the Services contemplated herein, to the extent such Losses are determined to have resulted from the gross negligence or intentional misconduct of a Q Squared Indemnified Party hereunder or material breach by Q Squared
of its obligations under this Agreement or a Work Order. 
 (c) The indemnified party shall: (i) give the indemnifying party prompt
notice of any such claim or law suit (including a copy thereof served upon indemnified party); (ii) cooperate with indemnifying party and its legal representatives in the investigation of any matter the subject of indemnification, and (iii) not
unreasonably withhold its approval of the settlement of any such claim, liability or action by indemnifying party that is the subject of Section 9(a) or 9(b). 

10. Limitation of Liability. 
 (a) Except
for either party’s indemnification obligations under Section 9, neither Q Squared, nor Customer, nor any of their Affiliates, nor any of their respective directors, officers, employees, subcontractors or agents or representatives,
consultants, or shareholders shall have any liability of any type (including, but not limited to, contract, negligence and tort liability) for any loss of profits, opportunities or goodwill, or any type of special, incidental, indirect or
consequential damage or loss in connection with or arising out of this Agreement, or any Work Order, or the Services performed by Q Squared hereunder. 

(b) Except for either party’s indemnification obligations under Section 9, in no event shall the collective, aggregate liability
(including without limitation, contract, negligence and tort liability) of Q Squared or its Affiliates, directors, officers, employees, subcontractors or agents under this Agreement exceed the amount of fees actually received by Q Squared from
Customer under the applicable Work Order. 
 11. Cooperation; Customer Delays; Disclosure of Hazards. Customer shall forward to Q Squared in a timely
manner all documents, materials and information in Customer’s possession or control necessary for Q Squared to conduct the Services. Q Squared shall not be liable to Customer nor be deemed to have breached this Agreement for errors, delays or
other consequences arising from Customer’s failure to timely provide documents, materials or information or to otherwise cooperate with Q Squared in order for Q Squared to timely and properly perform

  

					
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its obligations, and any such failure by Customer shall automatically extend any timelines affected by a time period reasonably commensurate to take into account such failure, unless Customer
agrees to a Change Order to pay any additional costs that would be required to meet the original timeline. If Customer delays a project from its agreed starting date or suspends performance of the project, then the parties will either enter into a
Change Order to address : a) Customer payment of the standard daily rate of Q Squared’s personnel assigned to the project, based on the percentage of their time allocated to the project, for the period of the delay, in order to keep the current
team members; or b) Q Squared may re-allocate the personnel at its discretion. In addition, Customer will also pay all non-cancelable costs and expenses incurred by Q
Squared due to the delay and will adjust all timelines to reflect additional time required due to the delay. Customer shall provide Q Squared with all information available to it regarding known or potential hazards associated with the use of any
substances supplied to Q Squared by Customer and Customer shall comply with all current legislation and regulations concerning the shipment of substances by land, sea or air. If Customer, or any third party acting on Customer’s behalf or at the
direction of Customer, delivers, ships, or mails materials or documents to Q Squared, or if Q Squared delivers, ships, or mails materials or documents to Customer or to third parties, then the expense and risk of loss for all such deliveries,
shipments, and mailings shall be borne by Customer. Q Squared disclaims any liability for the actions or omissions of third-party delivery services or carriers, including loss or damage occurring during shipment, delivery or mailing. 

12. Publication. Project results may not be published or referred to, in whole or in part, by Q Squared without the prior express written consent of
Customer. Neither party may use the other party’s name in connection with any publication or promotion without the other party’s prior express written consent. 

13. Independent Contractor Relationship. Notwithstanding any provision herein to the contrary, the parties hereto are independent contractors, and
nothing contained in this Agreement or in any Work Order shall be construed to place them in the relationship of partners, principal and agent, employer and employee, or joint venturers. Each party agrees that it shall have no power or right to bind
or obligate the other, and neither party shall hold itself out as having such authority. 
 14. Insurance. Each party to this Agreement is
responsible for maintaining, at its own expense and throughout the term of this Agreement, programs of insurance or self-insurance as it deems appropriate and in compliance with statutory requirements to protect its liabilities and contractual
obligations; provided, however, failure of either party to have insurance coverage, inability to obtain insurance coverage, or any inadequacy of insurance coverage of such party shall not relieve such party of any part of its liabilities under this
Agreement. 
 15. Force Majeure and Related Matters. In the event either party shall be delayed or hindered in or prevented from the performance of
any act required hereunder by reasons of strike, lockouts, labor troubles, inability to procure materials or services, failure of power or restrictive government or judicial orders, or decrees, riots, insurrection, acts of terrorism, war, Acts of
God, inclement weather or other reason or cause beyond that party’s control, then performance of such act (except for the payment of money owed) shall be excused for the period of such delay. 

  

					
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 16. Notices and Deliveries. Any notice required or permitted to be given hereunder by either party
hereunder shall be in writing and shall be deemed given on the date received if delivered personally, or by electronic mail, or by a reputable overnight delivery service, or three (3) days after the date postmarked if sent by regular,
registered or certified mail, return receipt requested, postage prepaid to the following addresses: 
  

			
	 If to Q Squared Solutions LLC:
  

Q Squared Solutions LLC
 5827 South Miami Boulevard

Morrisville, NC 27560
 USA

Attn: Head of Laboratory
	  	 If to Customer
  

Silverback Therapeutics, Inc.
 500 Fairview Ave. N, Suite 600

Seattle, WA 98109
 USA

Attn: Sue Hamke
 [***]

		
	With a copy to:	  	
		
	 IQVIA Inc.
 Office of the General Counsel

P.O. Box 13979
 Research Triangle Park, North Carolina

27709-3979 USA
 Attention: General Counsel

[***]
	  	

 17. Miscellaneous. 

(a) Governing Law. This Agreement and each Work Order shall be construed, governed, interpreted, and applied in accordance with the laws
of the State of New York, exclusive of its conflicts of laws provisions. If any one or more provisions of this Agreement or any Work Order are found to be unenforceable on the grounds that they are overly broad or in conflict with applicable laws,
it is the intent of the parties that such provisions be replaced, reformed or narrowed so that their original business purpose can be accomplished to the extent permitted by law, and the remaining provisions shall not in any way be affected or
impaired thereby. 
 (b) Survival. The rights and obligations of Customer and Q Squared, which by intent or meaning have validity
beyond such termination (including, but not limited to, rights with respect to inventions, confidentiality, discoveries and improvements, insurance, data protection, indemnification and liability limitations) shall survive the termination of this
Agreement or any Work Order. 
 (c) Entire Agreement; Amendments; Counterparts. This Agreement together with the applicable Work
Orders, contains the entire understanding of the parties with respect to the subject matter herein, and supersedes all previous agreements (oral and written), negotiations and discussions. Any modification to the provisions herein must be in writing
and signed by the parties. 

  

					
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 This Agreement may be executed by electronic means (including .PDF) and in any number of counterparts, each
of which when executed and delivered, shall constitute an original, but all of which together shall constitute one (1) agreement binding on all parties, notwithstanding that all parties are not signatories to the same counterpart. 

(d) Binding Agreements and Assignment. This Agreement shall be binding upon and inure to the benefit of Customer and Q Squared and
their respective successors and permitted assigns. Except as stated in this Section, neither party may assign any of its rights or obligations under this Agreement to any party without the express, written consent of the other party. 

(e) Waiver. The failure to enforce any right or provision herein shall not constitute a waiver of that right or provision. Any waiver
of a breach of a provision shall not constitute a waiver of any subsequent breach of that provision. 
 (f) Headings. The descriptive
headings of the sections of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction of any provision hereof. 

(g) Incorporation by Reference. All appendices attached hereto shall be deemed to be incorporated herein. In case of any conflict
between this Agreement and any such attachment or any Work Order, the terms of this Agreement shall prevail over the attachment or Work Order. 

(h) Data Protection. Q Squared and Customer agree to comply with all applicable privacy laws and regulations, and this Agreement. In
addition, Q Squared shall at all times abide by its privacy policies and Customer’s instructions- when processing personal data under this Agreement. If the services will involve the collection or processing of personal data (as defined by
applicable data protection legislation) within the European Union (“EU’’), then Customer shall serve as the controller of such data, as defined by the General Data Protection Regulation (Regulation (EU) 2016/679 of the European
Parliament and the Council on the Protection of individuals with regard to the processing of personal data and on the free movement of such data) (“GDPR”), and Q Squared shall act only under the instructions of the Customer in regard to
such personal data. In addition, the parties will execute a Data Processing Agreement prior to any such processing and if Customer is not based in the EU, Customer must appoint a third party to act as its local data protection representative or
arrange for a co-controller established in the EU for data protection purposes in order to comply with GDPR as Q Squared does not provide this service. 

IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto through their duly authorized officers and is effective as of the Effective
Date. 
 (signature page follows) 

  

					
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	Q Squared Solutions LLC	 		 	Silverback Therapeutics, Inc.

									
					
	By:	 	 /s/ Dennis Golmitz
	 		 	By:	 	 /s/ Jeffrey C. Pepe

			
	Print Name: Dennis Golmitz	 		 	Print Name: Jeffrey C. Pepe

									
					
	Title:	 	Director, C&P	 		 	Title:	 	SVP, General Counsel
					
	Date:	 	May 25, 2020	 		 	Date:	 	May 22, 2020

 List of Appendices: 
  

			
	Appendix 1:	  	Sample Work Order
	Appendix 2:	  	Q Squared Expression Analysis Laboratory Services Terms
	Appendix 3:	  	Q Squared BioSciences Laboratory Services and Vaccine Services Terms

  

					
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	Appendix 1:	 Sample Work Order 

WORK ORDER 
 This Work
Order (“Work Order”) is between [insert Customer’s full legal name] having its principal place of business located at [insert address] (“Customer”) and [insert Q Squared entity], with a principal place
of business located at the [insert address] (“Q Squared”) and relates to the Master Laboratory Services Agreement dated _________________ (the “Master Agreement”), which is incorporated by reference herein. Pursuant to the
Master Agreement, Q Squared has agreed to perform certain services in accordance with written work orders, such as this one, entered into from time-to-time. 

The parties hereby agree as follows: 

1. Work Order. This document constitutes a Work Order under the Master Agreement and this Work Order and the services contemplated
herein are subject to the terms and provisions of the Master Agreement. 
 2. Budget: Total fees and expenses hereunder not to exceed
$— without a Change Order. 
 3. Services and Payment of Fees and Expenses. The specific services contemplated by this Work Order (the
“Services”) and the related payment terms and obligations are set forth on the following attachments, which are incorporated herein by reference: 

Exhibit A: Central Laboratory Services 

Exhibit B: Laboratory Events Schedule 

Exhibit C: Laboratory Testing Requirements 

Exhibit D: Budget 
 Exhibit E:
Data Processing Information Form 
 4. Term. The term of this Work Order shall commence on the date of execution and shall continue
until the Services described in this Work Order are completed, unless this Work Order is terminated in accordance with the Master Agreement. If the Master Agreement is terminated or expires, but this Work Order is not terminated or completed, then
the terms of the Master Agreement shall continue to apply to this Work Order until the Work Order is either terminated or completed. 
 5.
Amendments. No modification, amendment, or waiver of this Work Order shall be effective unless in writing and duly executed and delivered by each party to the other. 

  

					
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 ACKNOWLEDGED, ACCEPTED AND AGREED TO: 

 

									
	[insert Q Squared entity]	 		 	Silverback Therapeutics, Inc.
					
	By:	 	 	 		 	By:	 	 
					
		 	(signature)	 		 		 	(signature)
			
	Print Name:	 		 	Print Name:
					
	Title:	 		 		 	Title:	 	
					
	Date:	 		 		 	Date:	 	

  

					
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	Appendix 2:	 Q Squared Expression Analysis Laboratory Services Terms 

The following terms shall apply specifically for any services provided by Q Squared Solutions Expression Analysis (“Q Squared Expression Analysis”)
Services as follows: 
 (a) Services. Q Squared shall provide genomic, analytical and bioanalytical testing services, as requested by
Customer from time to time during the term of the applicable Work Order. Q Squared will use reasonable commercial efforts to perform the Services in accordance with the specifications and timelines set forth in the Work Order. 

(b) Q Squared shall make and keep complete systematic records of all Services performed pursuant to a quotation for Services. Q Squared will
preserve all such paper records, on- site or at a secure location facility, for two (2) years after Services are completed. A retrieval fee may be imposed if Customer requires retrieval [***] or greater after data generation. Electronic data
generated during the course of the study will be retained according to the Quotation or project specific Work Order. 
 (d) Genomic
Specimens: Materials: Quality Control. Each Work Order specifically for Q Squared Expression Analysis will become effective upon Q Squared’s receipt of a Purchase Order from Customer or other writing from Customer authorizing Q Squared to
proceed with the Services (“Purchase Order”). Q Squared will not be obligated to perform Q Squared Expression Analysis Services until such Purchase Order and a Specimen Submission Form (“SSF”) per the instructions in the Work
Order is received by Q Squared from Customer. After a Work Order becomes effective, such Work Order shall be governed by and incorporated by reference all of the terms and conditions of this Agreement; any preprinted terms and conditions on a Work
Order or Purchase Order shall not apply unless expressly agreed in writing by both parties. In case of any conflict between this Agreement and any such Work Order, Purchase Order or similar writing, the terms of this Agreement shall prevail. 

(e) Customer shall use reasonable efforts to provide to Q Squared the number of genomic specimens (“Specimens”) and, if applicable,
any reagents, microarrays and other materials (“Consumables”) in accordance with the timelines and specifications defined for delivery of such Specimens and/or Consumables in the quotation. 

(f) Risk of loss of the Specimens and Consumables shall pass to Q Squared upon its receipt of such Specimens and Materials at Q Squared
designated place of receipt, (provided such designation is in writing and signed by Q Squared) and its determination that such Specimens are in acceptable condition. If at any time Q Squared becomes aware of any Specimens and/or Materials that do
not meet the requirements set forth in the Quotation or fail any portion of the laboratory protocol, Q Squared shall promptly inform Customer’s designated project manager via electronic mail. Customer shall then elect to either:
(a) replace Specimens and/or Materials that donot meet applicable criteria, or (b) continue with the contracted service without replacing such Specimens and/or Materials, in which case, the Parties shall modify the affected Quotation to
reflect the reduced number of Specimens and/or Materials. If Customer elects to proceed with the 

  

					
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contracted services, Customer shall pay Q Squared as mutually agreed for the Services performed of any such Specimens in accordance with the Quotation. 

(g) Q Squared’s standard quality assurance tests are intended to minimize errors that may occur during the preparation and processing of
Specimens. Specimens that yield data outside Q Squared quality metrics due to circumstances beyond the control of Q Squared are not the responsibility of Q Squared. Q Squared does not guarantee results. Customer will be notified promptly if a
Specimen does not pass Q Squared’s quality metrics and Customer will be responsible for advising Q Squared on whether or not processing should continue. In the event the Customer requests Q Squared to process samples that do not meet quality
criteria Customer shall be responsible for any fees, expenses and/or costs incurred or associated with the process of such samples. 
 (i)
Customer is not exempt from charges incurred due to failed experiments through no fault of Q Squared. Any Specimen deemed by Q Squared to be insufficient, invalid, or degraded to the point of being unusable may be returned at Customer request and Q
Squared may elect to charge a nominal fee for expenses related to Specimen preparation, quality testing and shipping fees for each returned Specimen. If replacement Specimens are submitted Customer will be responsible for charges incurred in the
processing of those replacement Specimens. 
 (i) In the event a Specimen is caused to be unusable due to a failure of a third party
Consumable, Q Squared will make a reasonable effort to obtain a replacement Consumable to re-perform the analysis, but in the event that a replacement cannot be obtained or the analysis cannot be re-performed,
Q Squared accepts no responsibility for the Specimen loss or unfinished analysis. Additionally, in the event of subsequent preparation and testing, Q Squared reserves the right to recover appropriate fees and costs, including the cost of additional
Consumables for Services provided. 
 (j) Notices. Any notice required or permitted to be given hereunder shall also be given to:

 If to Q Squared Solutions Expression Analysis LLC 
 Q
Squared Solutions Expression Analysis LLC 
 5927 S. Miami Blvd. 

Suite 100 
 Morrisville, NC 27560, USA 

Attn: Head of Laboratory 
 (l) Customer retains
all rights and title in and to Customer Specimens. Any and all Specimens supplied to Q Squared that are not utilized in the performance of the Services will, at Customer’s request, be returned, destroyed or stored. Specimens that are returned
or stored on Customer’s behalf will incur a fee as outlined in the Quotation. 
 (m) Each party acknowledges that the other party may
respond independently to any 

  

					
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regulatory correspondence or inquiry in which such party or its affiliates is named. Each party, however, shall notify the other party promptly of any FDA or other governmental or regulatory
inspection or inquiry concerning any study or Project of Customer for which Q Squared is providing Services. During any such inspection or inquiry, the parties agree to make reasonable efforts to disclose only the information required to be
disclosed. 
 (n) Limited Warranty. 

(i) Other than as expressly set forth in this Agreement and attachments hereto, Q Squared makes no representations, warranties or guarantees
regarding the deliverables supplied by Q Squared to Customer, or the use of, or the results of the use of such deliverables, or the performance of the Services. Q SQUARED AND ITS AFFILIATES DISCLAIMS ALL OTHER WARRANTIES, WHETHER EXPRESSED OR
IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NON-INFRINGEMENT. 

(ii) Customer’s exclusive remedy under Q Squared’s warranty is, at Q Squared’s sole option, a credit for or re-performance of the Services in question. 

  

					
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	Appendix 3:	 Q Squared BioSciences Laboratory Services and Vaccine Services Terms 

The following terms shall apply specifically for any Q Squared Biosciences Laboratory Services and/or Vaccine Services as follows: 

(a) In the event it is necessary for Q Squared to assess and correct an immediate problem in connection with the Study, and
after reasonable efforts Q Squared is unable to contact Customer to notify Customer of such problem, Q Squared may proceed accordingly and use reasonable emergency measures in order to correct such problem for the purpose of maintaining the
integrity of the Study. Q Squared shall be entitled to recover any additional reasonable costs associated with such corrective emergency measures; provided, however, Q Squared agrees to promptly notify Customer of such emergency measures and use its
reasonable best efforts to minimize any additional costs to Customer for such emergency corrective measures. 
 (b) Test
Materials. (i) Test materials supplied to Q Squared by Customer for bioanalytical and biosciences services hereunder (“Test Biosciences Materials”) will be used by Q Squared solely for performance of authorized Studies. Q Squared
shall be strictly prohibited from conducting any structural analysis, modification or reverse engineering of the Test Biosciences Materials, unless specifically requested by Customer in writing. Test Biosciences Materials transferred to Q Squared
shall remain the property of Customer. (ii) Upon the written request of Customer, any remaining samples of the Test Biosciences Materials will be returned to Customer at Customer’s expense. (iii) Customer shall provide Q Squared with
all information available to it regarding known or potential hazards associated with the use of any substances supplied to Q Squared by Customer and Customer shall comply with all current legislation and regulations concerning the shipment of
substances by land, sea or air. 
 (c) For all Studies conducted under this Agreement, Q Squared will comply with all
applicable laws, rules, regulations and guidelines, including but not limited to Good Laboratory Practices set forth by the U.S. Food and Drug Administration (“FDA”), Good Clinical Practices, ICH GCP Guideline, Organisation for Economic Co-operation and Development (“OECD”), and Ministry of Health, Labour and Welfare (“MHLW”), and any other applicable laws, rules, regulations and guidelines relating to the provision of Services,
as stipulated in each applicable Protocol under this Agreement, and with the standard of care customary in the bioanalytical laboratory industry. Q Squared will perform this Agreement in accordance with professional and ethical practices and
industry standards and the employees it will provide or obtain for the provision of the Services will act with professionalism, competence and diligence. Q Squared’s standard operating procedures will be used in performance of the Services.

 (d) Reporting. (i) Q Squared will maintain accurate and complete records in accordance with all applicable Good
Laboratory Practices, and if applicable Good Clinical Practices, and Q Squared will comply with all reporting requirements contained in each Protocol. Q Squared will keep Customer informed of the progress of Studies and will submit progress reports
as specified in the Protocols. (ii) Q Squared shall also provide Customer with a draft final and a final report for each Study either using Q Squared’s report format or Customer’s report format. If

  

					
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Customer requests the Customer format to be used, Customer must notify Q Squared prior to the analysis of study samples for a given study. If any changes to the draft report or final report
format has to be subsequently made due to the request of the Customer, or if additional copies of the final report are requested by Customer, then at Q Squared’s option there may be an additional charge to Customer for preparation, handling and
dispatch of such reports. If such changes will be expected to affect the timing of the delivery of the final report(s), then Q Squared shall submit amended delivery dates for Customer’s written approval. (iii) All reports submitted to
Customer and all data generated hereunder shall become the property of Customer and may be used by Customer for any purpose without further obligation or liability to Q Squared. 

(e) All materials and documentation will be retained by Q Squared for a period of three (3) years (“Retention
Period”) following issuance of the Final Report. During the Retention Period, the materials and documentation shall be made available for inspection by Customer or any authorized agent designated by Customer. Q Squared may charge Customer a
reasonable fee for storage of records after three (3) years. 
 (f) Unless otherwise required by law, Q Squared shall
not permit any inspections involving any Studies or the Confidential Information (as defined in the Agreement), until further instructions are received from Customer or until Customer and the inspecting agency have reached an appropriate agreement.
Unless otherwise required by law and subject to confidentiality obligations within the Agreement, no copies of Protocols or other Confidential Information maybe given by Q Squared to the Inspector. Any request for such information shall be
redirected to Customer. 
 (g) Q Squared does not warrant or represent that the results of the Study will be acceptable to
any regulatory or governmental agency to which they are presented nor that the results of the Study will enable Customer to market or otherwise exploit the Test Materials, or any product or Service. Customer acknowledges that it is responsible for
assessing and evaluating the reports, data, results, conclusions and other Work Product provided to Customer by Q Squared (“Results”), and the suitability of the Results for Customer’s purposes. Q Squared shall have no responsibility
for the manner in which Customer uses the Results, and Customer’s acceptance, reliance on, or use of such results shall be at the sole risk of Customer. EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION 2.(4)(g), Q SQUARED MAKES NO REPRESENTATIONS
OR WARRANTIES WITH RESPECT TO THIS AGREEMENT AND THE APPLICABLE WORK ORDER, THE SERVICES OR ANY STUDIES. Q SQUARED EXPRESSLY DISCLAIMS THE WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Q SQUARED MAKES NO REPRESENTATIONS OR
WARRANTIES OF NON-INFRINGEMENT WITH RESPECT TO ANY PATENT, TRADEMARK, TRADE SECRET, KNOW-HOW, TANGIBLE RESEARCH PROPERTY. INFORMATION OR DATA PROVIDED TO CUSTOMER
HEREUNDER, AND HEREBY DISCLAIMS THE SAME. 

  

					
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 (h) Duplicate Study Samples. Customer agrees to retain duplicate
study samples should the need for repeat analytical analysis be required and the original samples are unfit or unavailable for reanalysis. 

(i) In addition to the indemnity provisions within the Agreement, Customer undertakes to defend, indemnify and hold harmless Q
Squared and its affiliates, and its and their directors, officers, employees and agents (each, a “Q Squared Indemnified Party”), from and against any and all claims, losses, damages, liabilities, fines, reasonable attorney fees, court
costs, and expenses joint or several, resulting or arising from any third-party claims, actions, proceedings, investigations or litigation relating to or arising from or in connection with (a) Customer’s use of the Results, and
(b) any actual or alleged infringement of any patent or copyright, or wrongful use of proprietary information, arising from Q Squared’s use of the Test Biosciences Materials as contemplated by this Agreement and/or the Work Order. 

(j) All materials and documentation will be retained by Q Squared for a period of three (3) years (“Retention
Period”) following issuance of the Final Report. During the Retention Period, the materials and documentation shall be made available for inspection by the Customer or any authorized agent designated by the Customer. Q Squared may charge
Customer a reasonable fee for storage of records after three (3) years. 
 (k) In the event Customer requests Q Squared
to return any samples or Test Biosciences Materials to Customer or to a third party, Customer shall pay all associated courier/shipping charges incurred to return such sample and/or Test Biosciences Materials. If Customer requires Q Squared to use a
specific courier for such return and/or to bill the courier directly on its behalf Customer shall promptly provide in writing to Q Squared the courier account number and shall promptly pay any such costs in accordance with the payment terms in the
Agreement and/or the Work Order. 
 (l) In the event Customer requests (provided such request is in writing or by email) Q
Squared to store, destroy or dispose of any Test Biosciences Materials or samples supplied by Customer or used during the Study in any Work Order, and Q Squared agrees in writing, Q Squared shall store, destroy or dispose of any Test Biosciences
Materials or samples at Customer’s option at a fee to be determined in the applicable Work Order. Notwithstanding the above, storage fees shall be at least [***] per sample, or Test Biosciences Materials, per month. At Q Squared sole discretion
it may provide discounts on storage of [***] samples at any one time or committed long-term storage. For the avoidance of doubt, if Customer fails to inform Q Squared of its decision to store, destroy or dispose of any sample and/or Test Biosciences
Materials within [***] Customer shall be charged the storage fees detailed in this Section 2.(4)(1) for any such sample and/or Test Biosciences Materials and in accordance with the payment terms in the Agreement and/or the Work Order. 

(m) Upon written request of Customer, Q Squared shall remit to Customer all work products in its possession or under its
control, except that Q Squared may retain any work products which Q Squared is required to retain by applicable laws and archival copies of work product for its own records. Furthermore, subsequent to any retention period, Q Squared shall contact

  

					
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Customer to determine disposition of the records (return or extended storage) and upon Customer’s decision, disposition will be taken by Q Squared and charged to Customer, at the rates in
effect at that time. 
 (n) Customer agrees that it will not enter into an agreement with a third party that would alter or
affect the regulatory obligations delegated to Q Squared in any Study or project without the written consent of Q Squared, which will not be unreasonably withheld. 

(o) Indemnification and Limitation of Liability. Customer acknowledges that Q Squared has not participated in the manufacture
of any Test Biosciences Materials supplied by Customer and it acknowledges that Q Squared’s sole mandate is to perform each Study in accordance with the terms of the Work Order for bioanalytical and bioscience services and the applicable
Protocol. 
 (p) Q Squared retains the right to use any general assay technique utilized on Customer projects as Q
Squared’s own, royalty free. 
 (q) Notices. Any notice required or permitted to be given hereunder shall also be given
to: 
 If to Q Squared Solutions Biosciences LLC: 

Q Squared Solutions BioSciences LLC 

19 Brown Road 
 Ithaca, NY 14850

 USA 
 Attn: Head of
Laboratory 

  

					
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 Exhibit 10.11 

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

			
	CE3, Inc.	  	Silverback Therapeutics

 MASTER SERVICES AGREEMENT 

THIS MASTER SERVICES AGREEMENT is made and entered into as of January 21, 2020 (the “Effective Date”) by and between CE3 INC.
having a principal place of business at 246 Goose Lane, Suite 202, Guilford, CT, USA (“CE3”) and Silverback Therapeutics, Inc., having a principal place of business at 500 Fairview Ave N, #600, Seattle WA 98109
(“Sponsor”). The term “CE3” includes CE3, Inc., its affiliates, and authorized agents. The term “Sponsor” includes Silverback Therapeutics, Inc. and its authorized agents. 

The parties hereby agree as follows: 
  

	1.	 SERVICES 

 

	1.1	 CE3 will perform for Sponsor from time to time as mutually agreed upon by the parties in Project Specification
Orders (“PSO”), certain research and/or administrative services in connection with clinical trials sponsored by Sponsor (“Study” or “Studies”) and general clinical research activities including, without limitation,
trial management, site identification and selection, site monitoring/management, project management, data collection, statistical programming or analysis, quality assurance auditing, scientific and medical communications, regulatory affairs
consulting and submissions, strategic consulting and/or other related services (“Services”). 

  

	1.2	 Each PSO will set forth the terms and conditions of the particular Services, including a description of the
specific work to be performed, target completion dates, a budget and schedule of payments (“Project”), and will be separately executed by authorized representatives of CE3 and Sponsor. A sample PSO is attached hereto as Exhibit A. In the
event there is any material change in the scope of Services set forth in a PSO, or if the Project is delayed for reasons beyond the control of the parties, the parties will agree in writing to such changes and shall cooperate with each other in good
faith in reaching agreement with respect to any corresponding increase or decrease in the PSO budget, and associated changes in the schedule of payments, Project schedule or other items associated with the PSO. All such changes will be documented in
a Change Order, or series of Change Orders, to be numbered sequentially and each of which must be signed by duly authorized officers of both parties. 

  

	1.3	 No Services pursuant to this Agreement will commence until a PSO has been executed by both of the parties, or
otherwise agreed to in writing. The terms of this Agreement will be made a part of and incorporated by reference into each PSO and each PSO is hereby made a part of and incorporated into this Agreement. In the event of a conflict between the terms
of this Agreement and a PSO, the terms of this Agreement will govern, unless otherwise specifically agreed in the applicable PSO. 

  

	1.4	 Each PSO will, to the extent necessary, contain a statement of transfer of Sponsor obligations pursuant to 21
CFR 312.52. CE3 will use reasonable commercial efforts to perform all transferred obligations. 

  

	1.5	 In the event CE3 is required pursuant to a PSO to conduct or monitor a Study, CE3 will obtain any necessary
prior approval and ongoing review as required by: 

  

	 	1.5.1	 any appropriate and necessary review authorities, including without limitation, any applicable institutional
review board that is properly constituted in accordance with applicable national, state and local laws and standards to act as a human subjects research review board (“IRB”); and 

 

	 	1.5.2	 all international, national, state and local laws and regulations. 

 

	1.6	 CE3 will collect documentation of training provided to investigators conducting studies on behalf of Sponsor
(the “Investigators”) related to each Investigator’s performance of services and transferred obligations in conformance with Study protocols and with generally accepted standards of good clinical practice according to current Good
Clinical Practices, ICH Guidelines, and all other laws, rules, regulations or guidelines applicable to the performance of services. CE3 is not responsible for Investigator negligence or willful misconduct. 

  

			
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	1.7	 Subject to any contrary requirements in section 1.6 above, CE3 will use reasonable commercial efforts to
perform all Services and transferred obligations in accordance with the specifications and timelines set forth in PSOs, or in Project plans, templates and requirements documents referenced in PSOs, or in any modifications thereto or reasonable
additional requirements of which Sponsor may notify CE3. 

  

	1.8	 Subject to the requirements of sections 1.6, and 1.7 above, and unless otherwise stipulated in the applicable
PSO, CE3 will provide Services in conformance with CE3’s Standard Operating Procedures and with the Study protocol, all relevant regulations and rules of the FDA or other governmental requirements, and with current good clinical practice.

  

	1.9	 CE3 agrees to provide all reasonable personnel, facilities, and resources, as required, to accomplish its
responsibilities under any PSO. Sponsor may provide equipment to CE3, as more fully specified in the applicable PSO, including without limitation computer equipment and/or one or more software programs, for use in connection with a Study or Project
(“Equipment”). Upon completion or termination of any PSO (except to the extent otherwise authorized by Sponsor in writing), or upon written request of Sponsor, the Equipment, all associated peripheral equipment (including CDs and other
storage media), and all software and data will be promptly returned to Sponsor, at Sponsor’s expense. No duplicates of any software provided to CE3 may be retained by CE3. 

 

	1.10	 CE3 will not modify or alter a Study protocol without the specific written authorization and approval of
Sponsor or its designee. In the event CE3 is required pursuant to a PSO to perform and/or monitor a Study, CE3 will instruct Investigators and Study sites that Study protocols may not be modified or altered without the specific written authorization
and approval of Sponsor or its designee, will monitor to verify that such Investigators and Study sites do not so modify or alter the protocols, and will report immediately to Sponsor any such modification or alteration by Investigators and Study
sites. PROVIDED HOWEVER, IN THE EVENT CE3 FINDS IT NECESSARY TO MAKE CHANGES TO THE STUDY PROTOCOL TO PROTECT AGAINST AN IMMEDIATE THREAT TO SAFETY OR HEALTH OF THE PATIENTS/VOLUNTEERS, CE3 MAY DO SO AND SHALL REPORT IMMEDIATELY TO SPONSOR ANY
SUCH MODIFICATION OR ALTERATION AND THE REASON(S) FOR MAKING SUCH MODIFICATION OR ALTERATION. 

  

	1.11	 Materials and Study Drug. Study drug and other materials provided to CE3 by or on behalf of Sponsor for
the conduct of a Project shall only be used in the conduct of the Project in accordance with the Study protocol and any unused study drug or materials shall, upon termination of a PSO and at Sponsor’s sole cost and expense, be returned to
Sponsor or, at Sponsor’s direction, destroyed. 

  

	1.12	 Clinical Trial Agreement and Informed Consent. CE3 agrees to use a standard form of Clinical Trial
Agreements and Informed Consents approved by Sponsor in contracting with clinical sites and investigators to conduct each Project; provided that Sponsor and CE3 shall establish reasonable negotiation parameters which shall be used to support any
negotiation thereof. All material changes in the Clinical Trial Agreements and Informed Consents which fall outside of such negotiation parameters must be prior approved by Sponsor. 

 

	2.	 COMPENSATION & PAYMENT 

 

	2.1	 Compensation. For performance of Services, Sponsor will pay CE3 fees (“Service Fees”), and
will reimburse CE3 for reasonable and customary expenses, in the amounts and upon the terms set forth in the applicable PSO. Any change in the Service Fees or expenses set forth in a PSO will approved in writing by the Sponsor and will require the
execution of a change order or amendment in accordance with the terms of this Agreement. 

  

	2.2	 Payment Terms. Sponsor will pay CE3 Service Fees and expenses authorized by PSOs within [***] of receipt
by Sponsor of a correct and undisputed invoice from CE3. Upon request from Sponsor and/or in accordance with Section 12 of this Agreement, CE3 will make copies of receipts for expenses, or other documentation required by Sponsor available for
review. If CE3 incurs Service Fees and allowable expenses in any tradable currency other than U.S. dollars, CE3 will translate the foreign currency into U.S. dollars using the foreign exchange rate as published by The Wall Street Journal on the date
of the invoice. All payments will be made by Sponsor in U.S. dollars. 

  

			
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	2.3	 Start-Up Payment. Pursuant to a PSO and subject to section 8.4
of this Agreement, Sponsor may provide a start-up payment to CE3, which is required to initiate the Study (“Start-up Payment”) provided that such provision for
Start-up Payment is specified in the applicable PSO. 

  

	2.4	 Delays/Study Holds. In the event of any delay or Study hold by Sponsor (other than a Force Majeure
event, as defined in section 14.7 herein), CE3 shall use commercially reasonable efforts to reassign to another project personnel or contractors who were assigned to perform the Services hereunder. A delay of the Study may include, but is not
limited to, delay in the provision of client materials or information, or delay in approval of documentation. In the event that such personnel or contractors cannot be reassigned to another project, Sponsor may elect to continue to pay all costs
attributable to maintaining the availability of such personnel or contractors for the applicable PSO, or such personnel or contractors may be terminated. If such personnel or contractors are reassigned or terminated, CE3 cannot guarantee
availability of such personnel or contractors for performance of the Services hereunder upon lifting of the delay or Study hold. 

  

	3.	 CONFIDENTIALITY  

The terms of the Mutual Confidentiality Agreement by and between the parties dated as of September 18, 2019 shall govern this
Agreement with respect to Confidential Information, as defined in such Mutual Confidentiality Agreement, and such terms are incorporated by reference herein. 
  

	4.	 PERSONAL AND PROTECTED HEALTH INFORMATION 

Performance under this Agreement and/or each specific PSO may involve the exchange of certain information about individual persons including, without
limitation, individually identifiable health information, employment information, insurance information, and family information (collectively, “Personal and Protected Health Information”). Personal and Protected Health Information shall be
transmitted, handled, stored, maintained, used, and destroyed in a manner that will preserve its confidentiality. The parties will not use or disclose Personal and Protected Health Information received pursuant to this Agreement and/or to any PSO
for any purpose other than the performance of the Services under this Agreement and/or any PSO. The obligations and restrictions set forth in this Section will survive the termination or expiration of this Agreement and/or of any PSO. 

 

	5.	 HANDLING & STORAGE OF DOCUMENTATION 

 

	5.1	 CE3 will take responsibility for the management and custody of all Materials and documentation related to a
Study or Project undertaken pursuant to a PSO (“Documentation”), so as to avoid loss, theft, or unauthorized disclosure thereof. All documentation is Confidential Information and/or Personal and Protected Health Information subject to the
terms and conditions of section 3 and (to the extent applicable) section 4 of this Agreement. CE3 will not disclose or transfer Documentation, or cause Documentation to be disclosed or transferred, to a third party without the prior written approval
of Sponsor including, without limitation, data or clinical specimens collected by CE3 in the course of performing Services. 

  

	5.2	 CE3 will retain and, when required pursuant to a PSO to perform and/or monitor a Study, will instruct
Investigators and/or Study sites to retain the Documentation, related to a Study drug for which an IND has been filed, in conformance with applicable national and international regulations, but for no less than a period of up to [***] after
regulatory approval of the marketing application for the indication for which the Study drug was tested pursuant to any PSO, or if the application is not approved or Sponsor withdraws the application, for up to [***] after such non-approval or withdrawal, unless CE3 and Sponsor mutually agree to return the Documentation to Sponsor at the completion of a Project pursuant to the terms defined in a PSO (the “Retention Period”).
During the Retention Period, CE3 will make available and, when required pursuant to a PSO to perform and/or monitor a Study, will instruct Investigators and/or Study sites to make available the Documentation for inspection or copying by Sponsor or
any authorized agent designated by Sponsor upon request. 

  

			
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	5.3	 After the Retention Period, CE3 will contact Sponsor to determine the disposition of the Documentation
(disposal charges at Sponsor’s expense). Sponsor’s choice of disposition of the Documentation will be in writing. CE3 will not discard or destroy any Documentation without first receiving Sponsor’s written consent to do so.

  

	6.	 INTELLECTUAL PROPERTY 

 

	6.1	 Inventions. The investigational drug that is the subject of a Study (the “Study Drug”) is the
sole property of Sponsor. CE3 acknowledges and agrees that neither it nor its employees or agents will acquire rights of any kind whatsoever with respect to the Study Drug, including, but not limited to, methods of manufacturing the Study Drug,
methods of using the Study Drug, data or information relating to FDA approval and labeling of the Study Drug. CE3 will disclose exclusively to Sponsor and to no others, any and all inventions, ideas, discoveries, copyrights or work product and all know-how related to a Study Drug, including without limitation those which constitute a modification, improvement, or new use thereof, which CE3 makes or conceives of and/or reduces to practice during the course of
or as a result of performing Services hereunder (“Inventions”). CE3 hereby assigns all right, title and interest in and to such Inventions to Sponsor or its nominee and will, at Sponsor’s expense, conduct all activities reasonably
requested by Sponsor to further effectuate or evidence such assignment. 

  

	6.2	 Patents. CE3 acknowledges that Sponsor has the exclusive right to file patent applications in connection
with Inventions. CE3 will not prevent Sponsor in any way from filing patent applications, and that the prosecution and conduct of any patent application filed by Sponsor will be under the exclusive control of Sponsor. CE3 further agrees to use
reasonable efforts to assist Sponsor, at Sponsor’s cost and expense, to file, prosecute, and maintain patent applications, and to enforce any resulting patent, on such Inventions in the name of Sponsor or its nominee, and to execute and have
executed any papers that Sponsor may consider necessary or helpful in such prosecution, or which may relate to any litigation or interference and/or controversy in connection therewith. 

 

	6.3	 Ownership of Work Product. All reports, data, documents, protocols, specimens, clinical supplies,
worksheets, technical information, product plans, regulatory plans, original works of authorship and all materials or documents created by CE3 related to any PSO (“Work Product”) will be reported to Sponsor and are its exclusive property.
Sponsor will have the unrestricted right to use such Work Product consistent with applicable law. For the avoidance of doubt, such Work Product shall also be deemed to be the Confidential Information of Sponsor. When appropriate, Sponsor will obtain
and maintain all appropriate third party software and hardware licenses necessary to use CE3 Work Product. 

  

	6.4	 CE3 Property. Section 6.3 notwithstanding, Sponsor acknowledges that CE3 has proprietary systems,
processes, tools, and other material (“Tools”) necessary to properly conduct clinical trials, consulting, and other related services. These Tools and any modification, improvement, or new use thereof are the exclusive property of CE3.

  

	6.5	 Trade Secrets. In the performance of Services under this Agreement or any PSO, neither party will
disclose to nor use for the benefit of the other, any trade secrets of a third party without first obtaining the right to do so. 

  

	6.6	 Right of Reference. Pursuant to 21 U.S.C. Section 355 (b), CE3 hereby grants to Sponsor, and
Sponsor hereby retains, the exclusive right of reference to and use of any clinical investigation, including data or results therefrom, in support of new drug applications submitted by or on behalf of Sponsor to the United States Food and Drug
Administration (“FDA”). Further, it is Sponsor’s exclusive right to grant third parties authorization to reference or use any clinical investigation, including data or results therefrom. 

 

	7.	 PUBLICATIONS 

CE3 will obtain the express written consent of Sponsor prior to any publication or presentation of results generated pursuant to any PSO hereunder including,
without limitation, articles or reports. 

  

			
		  	   
  

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	8.	 TERM OF AGREEMENT 

 

	8.1	 Term. Subject to section 8.2. below, this Agreement will have a term of five (5) years from the
Effective Date unless extended by mutual agreement of the parties in accordance with the terms of this Agreement. 

  

	8.2	 Termination. 

  

	 	8.2.1	 Either party may terminate this Agreement or any PSO at any time upon 30 days prior written notice to the other
party. Notwithstanding the foregoing, should any PSOs entered into during the period of this Agreement require CE3 to provide Services beyond the date on which this Agreement is terminated pursuant to the terms of this paragraph 8.2.1, then the
terms of this Agreement will remain in effect with respect to such PSOs, until the termination date set forth in such PSO or its earlier termination pursuant to this paragraph. 

 

	 	8.2.2	 Either party may terminate this Agreement if the other party commits a material breach of this Agreement that
remains uncured for at least sixty (60) calendar days after written notice of the breach by non-breaching party. In the event CE3 is in default of any material obligation set forth in this Agreement or
any PSO, which is not cured within a mutually agreed upon timeframe after receipt of written notice from Sponsor, Sponsor may, at its election, request that CE3 (i) repeat the related Services at CE3’s cost, or (ii) refund to Sponsor
within sixty (60) days, amounts paid by Sponsor to CE3 for related Services; provided that such default was solely the result of CE3’s gross negligence. 

 

	 	8.2.3	 Sponsor may terminate PSO, in whole or in part, immediately upon written notice to CE3 if either CE3 or Sponsor
is unable to obtain the ongoing review and/or approvals in connection with a Study consistent with those set forth in section 1.5 of this Agreement. 

  

	 	8.2.4	 Sponsor or CE3 may terminate this Agreement or any PSO immediately and without notice if the other party
becomes insolvent or bankrupt. 

  

	8.3	 Transition Upon Termination. 

 

	 	8.3.1	 Transfer of Work Product, Equipment and Documentation. Upon the termination of this Agreement or any
PSO, Sponsor will have the right to assume full control of all Studies and Projects subject to the termination. In such event, CE3 will promptly submit to Sponsor all Work Product, Equipment, and Documentation in CE3’s possession at the time of
such termination or subject to its oversight responsibility pursuant to applicable PSOs. 

  

	 	8.3.2	 Phase Down Plan. Upon the termination of this Agreement or any PSO, CE3 will proceed in an orderly
fashion to terminate any outstanding commitments and to phase-down the work associated with the Services as soon as practicable, in accordance with a plan mutually agreed upon by Sponsor and CE3 (the “Phase Down Plan”).

  

	8.4	 Payments Due Upon Termination. 

 

	 	8.4.1	 Upon the termination of this Agreement and/or any PSO (excluding CE3’s termination for convenience), and
in accordance with the applicable Phase-Down Plan, Sponsor will pay CE3 for all reimbursables expenses incurred (which may include non-cancelable obligations committed before receipt of notice of termination)
and Services provided through the date of notice of termination (as well as Services completed as part of the Phase Down Plan) based upon the progress of the work performed and to the extent that such expenses and Services are authorized pursuant to
the PSO(s) that is(are) subject to the termination hereunder. 

  

	 	8.4.2	 If, upon termination of this Agreement and/or any PSO, Sponsor has made prior payments to CE3 that exceed the
amount owing to CE3 pursuant to any PSO that is subject to such termination, CE3 will refund the difference to Sponsor. 

  

	 	8.4.3	 Any payment or refund hereunder will be made within sixty (60) days after the date of termination unless
otherwise agreed upon by the parties in the applicable Phase-Down Plan or other writing. 

  

			
		  	   
  

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	8.5	 Survival of Legal Remedies. Nothing in this section 8 will limit the legal remedies of either party in
the event that termination hereunder results from a breach of this Agreement by the other party. 

  

	9.	 REPRESENTATION AND WARRANTY  

 

	9.1	 Authorization. Each party represents and warrants that it has the right to enter into this Agreement
with the other party. CE3 further represents and warrants that it is not a party to any agreement or under any condition which would prevent it from fulfilling its obligations under this Agreement and that during the term of this Agreement, it will
not enter into any agreement and/or arrangement which would in any way prevent it from providing Services pursuant to this Agreement or any PSO hereunder. 

  

	9.2	 Compliance with Laws. Each party shall comply with all laws and regulations applicable to the Services,
Study Drug and the Study, including, but not limited to, the applicable relations of the FDA, Good Clinical Practices, ICH Guidelines, and all other laws, rules, regulations or guidelines applicable to the performance of the Study and manufacture of
the Study Drug, as well as the prohibitions on kickbacks and referrals of the Social Security Act applicable to Medicare, Medicaid and certain other government healthcare programs, the False Claims Act and equivalent state laws.

  

	9.3	 Debarment. CE3 warrants and certifies that all CE3 personnel performing Services under this Agreement
are not debarred under the Federal Food, Drug and Cosmetic Act, 21 U.S.C. 335(a) and (b) or any equivalent law or regulation of any other applicable jurisdiction. Further, CE3 will not employ any person to perform Services under this Agreement
if such person is debarred by such law or the FDA. CE3 agrees to immediately disclose in writing to Sponsor if any CE3 personnel performing services under this Agreement is debarred, or if any action or investigation is pending or, to the best of
CE3’s knowledge, threatened, relating to the debarment of CE3 personnel performing Services related to this Agreement. 

  

	10.	 INDEMNIFICATION 

 

	10.1	 Sponsor will indemnify, defend and hold harmless CE3, and its directors, officers, employees, representatives,
associates, consultants, subcontractors and agents (“CE3 Indemnities”) against and from any liability, damage, loss, or expense (including, without limitation, reasonable attorney’s fees and expenses of litigation) (collectively,
“Loss”) incurred by or imposed upon CE3 in connection with any Study related third party claims, suits, actions, demands or judgments (collectively, “Claim”). CE3 agrees to immediately notify Sponsor of any such Claim. Such
notice will set forth all information known to CE3 relating to the Claim and will be sent pursuant to the terms of this Agreement. The failure to so notify the Sponsor shall not relieve the Sponsor of its obligations hereunder, except to the extent
such failure shall have adversely prejudiced the Sponsor. 

  

	10.2	 Sponsor’s obligation to indemnify CE3 will not apply to any Claim or Loss that arises to the extent
arising from any willful misconduct, negligent act or omission of CE3, including without limitation failure of CE3 comply with Sponsor’s written instructions (provided such instructions comply with all relevant regulations and with generally
accepted standards of good clinical practice according to current Good Clinical Practices) or the Study protocol, or failure by CE3 to comply with relevant regulations and rules of the FDA or other governmental requirements, or failure to comply
with current good clinical practice. 

  

	10.3	 Sponsor will have the right to fully control the defense of any Claim to which its indemnity obligation
hereunder applies, including but not limited to the selection of counsel, compromise and settlement and proceedings. Sponsor will not be liable for any Claim where a compromise or settlement was made by CE3 without Sponsor’s prior written
approval. 

  

	10.4	 CE3 will cooperate fully with Sponsor in the defense and proceedings of any Claim, attend hearings and trials
and assist in securing and giving evidence and testimony, and obtaining the attendance of necessary and proper witnesses at such hearing and trials at Sponsor’s expense. 

  

			
		  	   
  

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	10.5	 CE3 agrees to indemnify and hold harmless Sponsor, and its directors, officers, employees, representatives,
associates, consultants, subcontractors and agents (“Sponsor Indemnitees”) against and from any third- party Claim resulting from work performed by CE3 in accordance with a PSO to the extent such Claim arises solely and directly out of
(i) the negligence or willful misconduct of CE3, including without limitation failure of CE3 to comply with Sponsor’s written instructions (provided such instructions comply with all relevant regulations and with generally accepted
standards of good clinical practice according to current Good Clinical Practices) or the Study protocol, (ii) any material breach of this Agreement by CE3, and (iii) CE3’s failure to comply with relevant regulations and rules of the
FDA or other governmental requirements, or failure to comply with current good clinical practice, including, without limitation, amounts paid in settlement of such Claims, and agrees to bear all costs and expenses (including, without limitation,
reasonable attorney’s fees), incurred in connection with the defense or settlement of any such Claim as such costs and expenses are incurred in advance of judgment. 

 

	10.6	 CE3’s obligation to indemnify Sponsor will not apply to any Claim or Loss that arises from:

  

	 	10.6.1	 any willful misconduct, malpractice, negligent act or omission of Sponsor; or 

 

	 	10.6.2	 any injury caused by Sponsor’s Study Drug(s) and/or devices, or Study procedures in connection with a PSO;
or 

  

	 	10.6.3	 a failure by Sponsor to comply with all relevant regulations and rules of the FDA or other governmental
requirements, or failure to comply with current good clinical practice; or 

  

	 	10.6.4	 negligence or willful misconduct by clinical study investigators. 

 

	10.7	 EXCEPT AS SET FORTH IN THIS SECTION 10, NEITHER PARTY WILL BE LIABLE TO THE OTHER PARTY IN ANY AMOUNT FOR
SPECIAL, INCIDENTAL, CONSEQUENTIAL, INDIRECT, EXEMPLARY OR PUNITIVE DAMAGES. FURTHER, ANY STUDY COMPOUNDS PROVIDED TO OR ON BEHALF OF SPONSOR ARE EXPERIMENTAL AND ARE PROVIDED WITHOUT WARRANTY, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF
MERCHANTABILITY, TITLE, USAGE OF TRADE OR COURSE OF DEALING OR FITNESS FOR A PARTICULAR PURPOSE. 

  

	11.	 LIABILITY INSURANCE 

 

	11.1	 During the term of this Agreement, each party shall, at its sole cost and expense, maintain such policies of
comprehensive general and professional liability insurance and other insurance as shall be adequate to insure against any Claim(s) for damages arising in connection with the performance hereunder. 

 

	11.2	 Either party shall, at the other party’s request, have its insurance carrier for such insurance furnish a
certificate that such insurance is in force, such certificate to indicate any deductible and/or self-insured retention and stipulate that such insurance will not be canceled while this Agreement is in effect without at least [***] prior written
notice to the other party. 

  

	12.	 SPONSOR’S RIGHT TO AUDIT  

 

	12.1	 Audits. [***], Sponsor or its designee(s) will have the right during CE3’s normal business hours,
without incurring any additional responsibilities under this Agreement, to audit, upon reasonable notice, CE3’s facilities, records and documentation (including, without limitation, Study and/or Project records, Investigator and/or Study site
files, systems, operations, and standard operating procedures) related to CE3’s performance under this Agreement or PSOs. Sponsor or its designee(s) may conduct such audits during the term of this Agreement and for a period of up to [***] after
completion of related Services. 

  

	12.2	 Audit Findings & Follow-up. If Sponsor
identifies any failure of CE3 in its performance of the Services in accordance with the applicable PSO, Sponsor will provide CE3 with written documentation of its findings 

  

			
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in connection with any such audit within [***] of the date on which the audit was completed. In the event that any such report includes findings alleging substantial deficiencies related to
quality assurance, CE3 will develop an action plan, subject to Sponsor’s review and approval, to address all deficiencies at CE3’s expense (the “Action Plan”), unless CE3 may dispute in good faith the audit findings and elect,
within [***] after such delivery, to hire a third party auditor (“the “Auditor”) to review the audit results. In such event, CE3 and Sponsor will select an Auditor for such purpose only upon written approval of both parties, and will
equally divide the costs incurred in connection with the Auditor’s review; provided, however, that if the Auditor determines that CE3 had no reasonable basis for disputing Sponsor’s audit results, CE3 will pay all of the costs associated
with the Auditor’s review. If the Auditor determines that Sponsor had no reasonable basis for the finding, Sponsor will pay all of the costs associated with the Auditor’s review. 

 

	12.3	 Adherence to Audit Findings & Action Plan. Subject to section 12.2, CE3 will
comply with all provisions stipulated in the audit report and/or Action Plan, including any provisional requirements, pursuant to any service provided under a PSO. 

 

	13.	 GOVERNMENTAL INSPECTION 

 

	13.1	 Subject to the provisions of section 13.2. below, during the term of this Agreement and/or the performance of
any PSO, CE3 agrees, at Sponsor’s expense, including possible cost for CE3 personnel to prepare for audit, to permit representatives of the FDA and/or the duly authorized representative of a federal or international governmental, regulatory or
administrative department or agency (“Regulatory Authority”) to examine at any reasonable time during normal business hours (and where applicable make copies of) (i) the facilities where the Services and/or Study are being performed;
(ii) raw Study or Project data, including original subject records; and (iii) any other relevant information necessary to confirm that the Services are being performed in compliance with the Study protocol, this Agreement, and the
applicable PSO, and with applicable laws and regulations. 

  

	13.2	 Sponsor will be notified as soon practical in the event that CE3’s facilities or designated facilities or
an IRB utilized in connection with any PSO are the subject of an inspection or the subject of an intended inspection by a Regulatory Authority which may involve the subject matter of this Agreement or any PSO. CE3 will provide Sponsor with the
following data: 

  

	 	13.2.1	 purpose of inspection; 

 

	 	13.2.2	 name and credential number of Regulatory Authority personnel; 

 

	 	13.2.3	 a copy of form(s) issued by the Regulatory Authority, if any; and 

 

	 	13.2.4	 a copy of any communication to or from the Regulatory Authority. 

 

	13.3	 In addition, unless otherwise required by law, CE3 will not permit any inspections involving a Study, Project,
Confidential Information or Personal and Protected Health Information until further instructions are received from Sponsor or until Sponsor and the inspecting Regulatory Authority have reached an appropriate agreement. Unless otherwise required by
law, no copies of a Study protocol, PSO other Confidential Information or Personal and Protected Health Information may be given by CE3 to the Regulatory Authority. CE3 shall use its best efforts to promptly notify Sponsor of any request for
information during a regulatory inspection to allow Sponsor the option to authorize CE3 to disclose the requested information during such inspection. Otherwise, any request for such information is to be redirected to Sponsor. Further CE3 will notify
Sponsor promptly of any governmental and/or regulatory action taken with respect to any aspect of a Study or Project. 

  

	14.	 GENERAL 

 

	14.1	 Advertising. Under no circumstances may one party use the name of the other party or the Study Drug, or
any of its personnel, for promotional literature or advertising without the prior permission and approval of the other party. Notwithstanding the foregoing, in the event that either party may be required to use the

  

			
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name of the other party in submissions to a Regulatory Authority, no prior consent for such use will be necessary. 

 

	14.2	 Independent Contractors. CE3 will perform the Services under this Agreement only as an independent
contractor and not as an agent, employee, joint venturer or partner of Sponsor, and nothing contained herein will be construed to be inconsistent with that relationship or status. This Agreement will not constitute, create, or in any way be
interpreted as, a joint venture, partnership, or business organization of any kind. CE3 Personnel performing Services pursuant to any PSO hereunder are not nor will they be deemed to be at any time during the term of this Agreement employees or
agents of Sponsor. CE3 will pay, when due, salaries, wages and other forms of compensation or reimbursement and all applicable federal, state and local withholding taxes and unemployment taxes, as well as social security, state disability insurance
and all other payroll charges payable to, or on behalf of, CE3’s personnel working on any Project. No life, casualty, or disability insurance, or health, retirement or any other employment benefits will be paid by Sponsor to or for the benefit
of CE3 or its personnel. 

  

	14.3	 Notices. Any notice or other communication pursuant to this Agreement in writing and will be deemed to
have been fully given when delivered by nationally-recognized overnight courier service or three (3) days after being mailed by United States registered or certified mail, postage prepaid and return
receipt requested, to the following addresses or such other addresses as each party may provide in writing to the other party from time to time: 

If to CE3: 
 CE3 Inc. 

246 Goose Lane, Suite 202 

Guilford, CT 06437 
 If to
Sponsor: 
 Silverback Therapeutics 

500 Fairview Ave N, #600 

Seattle, WA 98109 
  

	14.4	 Assignment. This Agreement may not be signed or subcontracted, in whole or in part, by either party
without the prior written consent of other party; provided, however, that a party may assign this Agreement, without the prior written consent of the other party, to an entity who acquires all or substantially all of its business, whether through
merger, reorganization or otherwise. 

  

	14.5	 Governing Law/Venue. This Agreement in all respects be governed by, construed and enforced in accordance
with the laws of the State of Delaware, regardless of its choice of law rules. Each party hereby specifically consents to the personal jurisdiction of the courts in the State of Connecticut or the State of Washington; provided that, in the event of
a dispute concerning this Agreement, any suit, proceeding, arbitration or mediation will be brought: (a) by Sponsor only in a court or tribunal of competent jurisdiction in the State of Connecticut, or (b) by CE3 only in a court or
tribunal of competent jurisdiction in the State of Washington. 

  

	14.6	 Conduct. When interacting under this Agreement, neither CE3 nor Sponsor will commit any act of sexual
harassment nor discriminate on the basis of sex, race, religion, national origin, disability, marital status, Veteran’s status and age. Each party will indemnify and hold harmless the other against and from any liability, losses, claims and
expenses (including but not limited to attorneys’ fees) arising from any breach of the foregoing obligations. 

  

	14.7	 Force Majeure. Neither party will be liable for any delay or failure to perform as required by this
Agreement to the extent that such delay or failure to perform is caused by circumstances reasonably beyond the control of the party seeking relief under this section including, without limitation, labor disputes, accidents, any law, order or
requirement of any governmental agency or authority, civil disorders or commotions, acts of aggression or terror, fire or other casualty, strikes, acts of God, explosions, or material shortages. Performance time will be considered extended for a
period of time equivalent to the time lost 

  

			
		  	   
  

	CE3-SBT.MSA.Final.200121	  	Page 9 of 13

			
	CE3, Inc.	 	Silverback Therapeutics

  

	 	
because of any such delay or failure to perform; however, in any event, this extension of time will not exceed [***], at which time the non-affected party
may terminate this Agreement or the applicable PSO, unless the parties agree otherwise in writing. 

  

	14.8	 Headings/Counterparts. The headings contained in this Agreement are for convenience of reference only
and are not intended to have any substantive significance in interpreting this Agreement. This Agreement may be executed in any number of counterparts, and each such counterpart will be deemed to be an original and all such counterparts together
will constitute one agreement. 

  

	14.9	 Amendments. No alteration, modification or other change to this Agreement will be binding on the parties
except upon execution of a written amendment approved and signed by officers of CE3 and Sponsor. Any alteration, modification or other change to a PSO will require, to the extent required pursuant to such PSO, execution of either a change order (in
a form mutually agreed upon by Sponsor and CE3), an amendment, or other written authorization, in accordance with the terms and conditions set forth in each PSO. Change orders and/or amendments will be executed by authorized representatives of CE3
and Sponsor. Each change order or amendment executed in accordance with this section 14.9 will be deemed to be incorporated into the applicable PSO. Any amendment or change order will become effective only upon execution thereof, unless the
amendment or change order specifically sets forth a different effective date. Both parties agree to act in good faith to promptly identify, review and execute amendments and change orders. 

 

	14.10	 Invalidity/Waiver. The terms of this Agreement will be severable so that if any term, clause, or
provision hereof is deemed invalid or unenforceable for any reason, such invalidity or unenforceability will not affect the remaining terms, clauses and provisions hereof, which will continue with full force and effect. The waiver by either party
hereto of any breach of the terms and conditions hereof will not be considered a modification of any provision, nor will such waiver act to bar the enforcement of any subsequent breach. 

 

	14.11	 Entire Agreement. This Agreement (including all PSOs and any other appendices, attachments, exhibits
and/or purchase orders) constitutes the entire agreement between the parties with respect to the subject matter contained herein, and this Agreement supercedes all prior or existing understandings or agreements, written and oral, between the parties
with respect to the subject matter contained herein. The parties intend for this Agreement to be a complete statement of the terms of their agreement, and no change or modification of any of the provisions of this Agreement will be effective unless
it is in writing and signed by duly authorized representatives of CE3 and Sponsor. In the event of a conflict between the terms of this Agreement and any PSO, appendix, attachment, exhibit or purchase order entered into between the parties, the
terms of the Agreement will govern, unless the PSO, appendix, attachment, exhibit or purchase order expressly states that it or a provision therein will govern notwithstanding a contrary provision contained in this Agreement. 

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the Effective Date. 

 

			
	 CE3 Inc.
	  	Silverback Therapeutics
	 Digitally signed by Timothy Garrelts
	  	
	 Date: 2020.01.21 11:54:22 -05’00’
	  	
		
	 By: /s/ Timothy Garrelts 

        Chief Operating
Officer                                       
         
	  	By: /s/ Jeffrey C.
Pepe                                         
           
		
	Name: Timothy Garrelts 	  	Name: Jeffrey C. Pepe
		
	Title: Chief Operating Officer	  	Title: SVP, General Counsel
		
	Date:
                                         
               	  	Date: January 21, 2020
		
	Attachments: Exhibit A (Sample Project Specification Order)	  	

  

			
		  	 ***Certain Confidential Information Omitted

 

	CE3-SBT.MSA.Final.200121	  	Page 10 of 13

			
	CE3, Inc.	 	Silverback Therapeutics

  

 EXHIBIT A 

(Sample Project Specification Order) 

PROJECT SPECIFICATION ORDER EFFECTIVE DATE XXX 

TO MASTER SERVICES AGREEMENT 

BETWEEN CE3, INC. AND SPONSOR NAME 

PROJECT NAME: XXX 
 THIS Project Specification
Order (“PSO”) is made and entered into as of DATE by and between CE3 INC. (“CE3”) and Sponsor Name (“Sponsor”). Capitalized terms used herein and not defined will have the meanings ascribed to them in the Master
Services Agreement (as defined below). 
 WHEREAS, CE3 and Sponsor have entered into a Master Services Agreement effective DATE (the “Master
Agreement”); and 
 WHEREAS, pursuant to the Master Agreement, CE3 has agreed to perform certain Services in accordance with PSOs from time to
time entered into by the parties, as provided in the Master Agreement, and Sponsor and CE3 now desire to enter into such a PSO; and 
 WHEREAS,
Sponsor desires that CE3 provide certain certain Services related to the investigational drug referred to as XXX, in accordance with the Study Protocol # XXX entitled, “STUDY TITLE” (the “Study”). 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and intending to be legally bound, the parties hereby agree as follows: 

 

	 	1.	 Project Description. CE3 will perform services in accordance with the scope of services affixed hereto
and made a part here of as Exhibit A and any other documents attached to this PSO (the “Project”). 

CE3 and Sponsor Project Contacts: XXX 
  

	 	2.	 Transfer of Obligations. Pursuant to 21 CFR 312.52, Sponsor hereby transfers to CE3 all of the
obligations set forth in the Transfer of Obligations form attached hereto and made a part here of as Exhibit C. CE3 agrees to perform the transferred obligations. Any responsibilities not specifically set forth in Exhibit C as transferred to CE3
will remain the responsibility of Sponsor. 

  

	 	3.	 Project Timeline/Duration. It is anticipated that the Project duration will be approximately XX months.
The parties agree that any delay by Sponsor in taking any action or in delivering any documents, data, and/or records that the parties agree is required in order for CE3 to properly perform services hereunder will extend any affected dates or time
intervals set forth in the project timeline by the length of any such delay. 

  

	 	4.	 Compensation and Payment Schedule. 

 

	 	a.	 Project Budget. For performance of the project in accordance with the Scope of Services, Sponsor will
pay CE3 Service Fees and Pass-Through costs (“Total Project Cost”) in accordance with the Project Budget affixed hereto and made part hereof as Exhibit B. 

 

	 	b.	 Payment Schedule for CE3 Services. The amounts set forth in the Project Budget will be paid upon
Sponsor’s receipt of an invoice from CE3 in a frequency no greater than one invoice per month. CE3 will invoice on a time and materials basis. Upon execution of this PSO, Sponsor will pay CE3 a Startup Payment in the amount of XXX (#) percent
(or $XXXX) of the Service fees as stated in the Project Budget. The Startup Payment will be reconciled against and subtracted from the final Project payment(s). Any change to the Project Assumptions, and/or Scope of Services, which will increase or
decrease the Project Budget will be handled in accordance with section 5 of this PSO. 

  

			
		  	   
  

	CE3-SBT.MSA.Final.200121	  	Page 11 of 13

			
	CE3, Inc.	 	Silverback Therapeutics

  

	 	c.	 Payment Schedule for Pass-through Costs. Upon execution of this PSO, Sponsor will pay CE3 an initial
payment of $XXXX to cover a portion of the pass-through costs stated in the Project Budget. Beginning [***] after this initial payment, CE3 will forecast the projected pass-through costs for the next two month period and invoice Sponsor if
insufficient funds remain from the previous (initial) payment. This process will be repeated bi-monthly thereafter until study completion. CE3 will provide Sponsor with a final reconciliation of pass-through
costs. 

  

	 	d.	 Changes to Project Budget. Sponsor will not be liable for payment of any fees incurred by CE3 in excess
of the “Total Project Cost” as defined in Exhibit B except pursuant to an amendment or other written agreement executed by Sponsor and CE3 in accordance with the provision of section 5 of this PSO. CE3 will act in good faith to promptly
identify any changes in the Project, will track all changes, related costs and will notify Sponsor as soon as the change to the Project Budget is known. 

  

	 	e.	 Invoice and Payment Instructions. If required for payment, Sponsor will provide CE3 with a purchase
order (“PO”) shortly following execution of this PSO. CE3 will submit invoices and supporting documentation to Sponsor, which will include the PO number (if applicable), invoice amounts and associated description of services. CE3 will
submit invoices to the following address, or such other address as Sponsor may subsequently designate by notice. 

Sponsor Name 
 AP Address 

Attn: Accounts Payable 
 All
payments to CE3 will be sent to the following address or to such other address as CE3 may subsequently designate by notice: 
 CE3 Inc. 

246 Goose Lane, Suite 202 

Guilford, Ct 06437 
 Attn:
Accounts Receivable 
 Or Via ACH 
  

	 	5.	 Project Changes. No alteration, modification, amendment or change order to this PSO will be binding upon
the parties unless written approval is granted by Sponsor and/or CE3 in accordance with the provisions of section 1.2 of the Master Agreement. Upon completion of the Project, Sponsor and CE3 will review a final reconciliation and negotiate in good
faith any payments or reimbursements are due to either party before final payment will be made to CE3. 

  

	 	6.	 Term and Termination. The term of this PSO will commence on the Effective Date and will continue until
the Project completion provided, however, Sponsor may terminate this PSO or CE3’s participation in the Project in whole or in part prior to the completion of the Project upon 30 days written notice. 

 

	 	7.	 Incorporation by Reference; Conflict. The provisions of the Master Agreement are incorporated by
reference into and made a part this PSO. In the event of a conflict between the terms and conditions of this PSO and those of the Master Agreement, the terms of the Master Agreement will take precedence and control over those of this PSO.

  

			
		  	 ***Certain Confidential Information Omitted

 

	CE3-SBT.MSA.Final.200121	  	Page 12 of 13

			
	CE3, Inc.	 	Silverback Therapeutics

  

 IN WITNESS WHEREOF, the parties have caused this PSO to be duly executed as of the Effective Date.

  

					
		 	Sponsor Name	  	CE3, Inc.
			
	       
	 	 By:
                                         
                                         
              
	  	By:
                                         
                                         
          
			
		 	 Name:
	  	Name:
			
		 	 Title:
	  	Title:

 SAMPLE LIST OF EXHIBITS ATTACHED TO EACH PROJECT SPECIFICATION ORDER: 

EXHIBIT A: SCOPE OF SERVICES 
 EXHIBIT B: PROJECT BUDGET 

EXHIBIT C: TRANSFER OF OBLIGATIONS FORM 

  

			
		  	   
  

	CE3-SBT.MSA.Final.200121	  	Page 13 of 13

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