Document:

EX-10.11

 Exhibit 10.11 

SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL 

TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN 

SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE 

BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE ASTERISKS [***]. 

AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT 

BETWEEN 
 THE JOHNS
HOPKINS UNIVERSITY 
 & 

ALLAKOS INC. 
 JHU
AGREEMENT A30817 

 FINAL 

CONFIDENTIAL 
  

 AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT 

THIS AMENDED AND RESTATED EXCLUSIVE LICENSE AGREEMENT (this “Agreement”) is entered into by and between THE JOHNS HOPKINS
UNIVERSITY, a Maryland corporation having an address at 3400 N. Charles Street, Baltimore, Maryland, 21218-2695 (“JHU”) and ALLAKOS INC., a Delaware corporation having an address at 75 Shoreway Road, Suite A, San Carlos, CA 94070
(“Company”), as of September 30, 2016 (the “Restatement Date”) and amends and restates that certain Exclusive License Agreement entered into by and between JHU and Allakos as of the Effective Date (the “Original
License Agreement”), with respect to the following: 
 RECITALS 

WHEREAS, as a center for research and education, JHU is interested in licensing PATENT RIGHTS (hereinafter defined) in a manner that will
benefit the public by facilitating the distribution of useful products and the utilization of new processes, but is without capacity to commercially develop, manufacture, and distribute any such products or processes; 

WHEREAS, a valuable invention(s) entitled [***] was developed during the course of research conducted by Drs. Bruce S. Bochner and Robert
Schleimer (JHU Ref. C03875); [***] was developed during the course of research conducted by Drs. Bruce S. Bochner, Robert Schleimer, and Esra Nutku-Bilir, (JHU Ref. C03906); [***] was developed during the course of research conducted by Drs. Bruce
S. Bochner, Robert Schleimer and Esra Nutku-Bilir (JHU Ref. C11235); [***] was developed during the course of research conducted by Drs. Bruce S. Bochner, Robert Schleimer and Esra Nutku-Bilir (JHU Ref. C11251) (collectively, all JHU inventors are
hereinafter referred to as “Inventors”); 
 WHEREAS, JHU has acquired through assignment from the Inventors and from a prior
assignee, all rights, title and interest, with the exception of certain retained rights by the United States Government, in its interest in said valuable inventions; 

WHEREAS, Company and JHU executed that certain Exclusive Option Agreement with Effective Date of December 5, 2012 (the “Option
Agreement”) with agreed-upon license terms attached in Exhibit C of that agreement for the above-identified inventions under JHU Ref. C03875, JHU Ref. C03906, JHU Ref. C11235 and JHU Ref. C11251, and under which Company received the
BIOLOGICAL MATERIAL(S) under JHU Ref. C11235 and JHU Ref. C11251 from Dr. Bruce Bochner at JHU and on which Company conducted evaluation testing during the term of the Exclusive Option Agreement (JHU Agreement A21208), and executed the Original
License Agreement with Effective Date of December 20, 2013; and 
 WHEREAS, the Parties now desire to amend and replace the Original
License Agreement in its entirety with this Agreement, effective as of the Restatement Date. 
 NOW THEREFORE, in consideration of the
premises and the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

  

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 ARTICLE 1 

DEFINITIONS 
 All
references to particular Exhibits, Articles or Paragraphs shall mean the Exhibits to, and Paragraphs and Articles of, this Agreement, unless otherwise specified. For the purposes of this Agreement and the Exhibits hereto, the following words and
phrases shall have the following meanings: 
 1.1 “AFFILIATED COMPANY(IES)” as used herein in either singular
or plural shall mean any corporation, company, partnership, joint venture or other entity, which controls, is controlled by or is under common control with Company. For purposes of this Paragraph 1.1, control shall mean the direct or indirect
ownership of at least fifty percent (50%). 
 1.2 “BIOLOGICAL MATERIAL(S)” shall mean materials in JHU’s
possession as identified in Exhibit D which have been assigned to JHU by Inventors and prior assignee of PATENT RIGHT(S). 

1.3 “DEVELOPED PRODUCT(S)” shall mean any materials, compositions, biologic, drugs, other products (including
combination products), or methods which but for the use of the BIOLOGICAL MATERIALS licensed hereunder could not be developed, made, invented, discovered or derived. For the avoidance of doubt, DEVELOPED PRODUCT(S) (as defined above) shall include
[***]. 
 1.4 “DIAGNOSTIC FIELD” shall mean the field of identification, diagnosis or prognosis of any disease or
medical condition in humans or other animals using a LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S). 
 1.5 “EFFECTIVE
DATE” of this Agreement shall mean December 20, 2013. 
 1.6 “EXCLUSIVE LICENSE” shall mean the license
grant by JHU to Company pursuant to Paragraph 2.1 of this Agreement of its entire right and interest in the PATENT RIGHTS and BIOLOGICAL MATERIALS, subject to Paragraphs 2.3 and 2.4 of this Agreement. 

1.7 “FIRST COMMERCIAL SALE” shall mean the first transfer by a LICENSEE, AFFILIATED COMPANY or SUBLICENSEE of a
LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S) for value, but shall not include a transfer of materials for the purpose of use in a clinical trial, where the consideration received is intended to cover the manufacturing cost of the materials. 

1.8 “LICENSED FIELD A” shall mean the treatment and/or prevention of any disease or medical condition in humans or
other animals using a LICENSED PRODUCT or DEVELOPED PRODUCT, but excluding the diagnosis thereof. 

  

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 1.9 “LICENSED FIELD B” shall mean any application, use, manufacture, sub-license, sale, lease or transfer of LICENSED PRODUCTS, DEVELOPED PRODUCTS, or BIOLOGICAL MATERIALS, including within the DIAGNOSTIC FIELD and as research reagents, but excluding LICENSED FIELD A. 

1.10 “LICENSED PRODUCT(S)” as used herein in either singular or plural shall mean any material, composition, biologic,
drug, other products, or methods, that, in the absence of a license to the PATENT RIGHT(S), the manufacture, use, offer for sale, sale, or importation thereof, or the practice thereof, would infringe a claim of the PATENT RIGHT(S) (infringement
shall include, but not be limited to, direct, contributory or inducement to infringe same); or is, incorporates or uses a BIOLOGICAL MATERIAL. [***]. 

1.11 “NET REVENUES” as used herein shall mean and includes [***]. 

[***]. 
 1.12 [***]. 

1.13 “PATENT RIGHT(S)” shall mean [***]. 

1.14 “SUBLICENSEE(S)” as used herein in either singular or plural shall mean any person or entity other than
AFFILIATED COMPANIES to which Company has granted a sublicense under this Agreement. 
 1.15 “TERM” has
the meaning set forth in Paragraph 9.1. 
 1.16 “TERRITORY” shall mean worldwide. 

ARTICLE 2 
 LICENSE GRANT

 2.1 Grants. Subject to the terms and conditions of this Agreement, JHU hereby grants to Company: 

 

	 	(a)	an EXCLUSIVE LICENSE to develop, make, have made, use, have used, import, offer for sale, sell and have sold the LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S) in the TERRITORY under the PATENT RIGHTS and using the
BIOLOGICAL MATERIAL(S) in the LICENSED FIELD A and LICENSED FIELD B and 

  

	 	(b)	an EXCLUSIVE LICENSE to make, have made and use BIOLOGICAL MATERIAL(S) in LICENSED FIELD A and LICENSED FIELD B. 

  

	 	(c)	For clarity, the EXCLUSIVE LICENSE granted pursuant to subsection (b) does not include the right to sell and have sold BIOLOGICAL MATERIAL(S) which JHU and Company agree would be conducted under the EXCLUSIVE
LICENSE granted under subsection (a). [***]. 

  

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 These grants shall apply to the Company and any AFFILIATED COMPANIES, except that any
AFFILIATED COMPANIES shall not have the right to sublicense others as set forth in Paragraph 2.2 below. If any AFFILIATED COMPANIES exercises rights under this Agreement, such AFFILIATED COMPANIES shall be bound by all terms and conditions of this
Agreement, including but not limited to indemnity, insurance provisions and royalty payments, which shall apply to the exercise of the rights, to the same extent as would apply had this Agreement been directly between JHU and the AFFILIATED
COMPANIES. In addition, Company shall remain fully liable to JHU for all acts and obligations of AFFILIATED COMPANIES such that acts of the AFFILIATED COMPANIES shall be considered acts of the Company. 

2.2 Sublicense. Company may sublicense to third parties under this Agreement, subject to the
terms and conditions of this Paragraph 2.2 and with prior written notice to JHU, and shall provide an unredacted copy of each such sublicense agreement to JHU promptly after it is executed. [***]. 

2.3 Government Rights. The grants of Paragraph 2.1 are subject to rights retained by the United States government in
accordance with 35 U.S.C. 200-205 and P.L. 96-517, as amended by P.L. 98-620, codified at 35 U.S.C. 200 et. seq. and implemented
according to 37 CFR Part 401. The United States government has acquired a nonexclusive, nontransferable, irrevocable, paid-up license to practice or have practiced for or on behalf of the United States the use
of BIOLOGICAL MATERIALS and the inventions described in PATENT RIGHTS throughout the world. The rights granted herein are additionally subject to: (i) the requirement that any LICENSED PRODUCT(S) or DEVELOPED PRODUCT(S) produced for use or sale
within the United States shall be substantially manufactured in the United States to the extent required under 35 U.S.C. 200-205 and P.L. 96-517, as amended by P.L. 98-620, codified at 35 U.S.C. 200 et. seq. and implemented according to 37 CFR Part 401 (unless a waiver under 35 USC § 204 or equivalent is granted by the appropriate United States government agency), (ii) the
right of the United States government to require JHU, or its licensees, including Company, to grant sublicenses to responsible applicants on reasonable terms when necessary to fulfill health or safety needs, and, (iii) any other rights acquired
by the United States government under the laws and regulations applicable to the grant/contract award under which the inventions were made. 

2.4 Retained Rights. The grants of Paragraph 2.1 are subject to the retained rights [***]. 

2.5 Conversion of Grant for LICENSED FIELD B. The grants for LICENSED FIELD B in Paragraphs 2.1(a) and 2.1(b) [***]. 

2.6 Duration and Conversion of Grant for LICENSED FIELDS A and B. 

(a) Duration of license grants [***]: 

  

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 [***]. 

(b) [***]. 
 (c) If Company grants any sublicense to a third party
in compliance with Paragraph 2.2 [***]. 
 ARTICLE 3 

FEES, ROYALTIES, PAYMENTS & EQUITY 

3.1 License Fees. 
  

	 	(a)	Company shall pay to JHU a license fee as set forth in Exhibit A within thirty (30) days of the EFFECTIVE DATE of this Agreement. This license fee is nonrefundable and shall not be credited against royalties
or other fees. 

  

	 	(b)	Company shall pay to JHU an amendment fee as set forth in Exhibit A within thirty (30) days of the RESTATEMENT DATE of this Agreement. This amendment fee is nonrefundable and shall not be credited against
royalties or other fees. 

 3.2 Minimum Annual Royalties. Company shall pay to JHU minimum annual royalties as
set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties on NET REVENUES of
LICENSED PRODUCT(S) and DEVELOPED PRODUCT(S) accrued under Paragraph 3.3 and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

 3.3 Running Royalties. Company shall pay to JHU a running royalty as set forth in Exhibit A for each LICENSED
PRODUCT(S) and for each DEVELOPED PRODUCT(S) sold or provided, by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) for use in LICENSED FIELD A and LICENSED FIELD B, based on NET REVENUES for the term of this Agreement. Such payments shall be made
within [***] following FIRST COMMERCIAL SALE of LICENSED PRODUCT(S) and/or DEVELOPED PRODUCT(S). All non-US taxes related to LICENSED PRODUCT(S) and/or DEVELOPED PRODUCT(S) sold under this Agreement shall be
paid by Company and shall not be deducted from royalty or other payments due to JHU. 
 (a) The running royalty obligations for the sale of
LICENSED PRODUCT(S) with respect to NET REVENUES in LICENSED FIELD A and LICENSED FIELD B shall commence on the date of FIRST COMMERCIAL SALE of LICENSED PRODUCT intended for use in either LICENSED FIELD A or LICENSED FIELD B in a given country and
shall continue, on a country-by-country basis, until the expiration of the last to expire of any PATENT RIGHT(S) issued in that country covering the LICENSED PRODUCT(S)
unless otherwise officially extended under applicable patent term extension (“Licensed Product Royalty Period”). 

  

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 (b) The running royalty obligations for the sale of DEVELOPED PRODUCT(S) with respect to NET
REVENUES in LICENSED FIELD A and LICENSED FIELD B shall commence on the date of FIRST COMMERCIAL SALE of DEVELOPED PRODUCT intended for use in either LICENSED FIELD A or LICENSED FIELD B in a given country and shall continue for ten (10) years
from the FIRST COMMERCIAL SALE of any DEVELOPED PRODUCT anywhere in the world in each field (“Developed Product Royalty Period”). DEVELOPED PRODUCT intended for use in either LICENSED FIELD A or LICENSED FIELD B launched by Company,
AFFILIATED COMPANY or SUBLICENSEE(S) after expiration of the PATENT RIGHTS is subject to the running royalties in this subsection (b). 
 (c)
For clarity, as provided for in Exhibit A, to the extent that [***]. 
 (d) Should Company be required to pay running royalties [***].

 (e) In no instance shall the running royalty [***]. 

(f) Company acknowledges that its agreement to make payments to JHU under this Paragraph 3.3 regarding rights and/or products [***]. 

(g) In the event that [***]. 

3.4 Arms-Length Transactions. In order to ensure JHU the full royalty payments contemplated hereunder, Company agrees that in the
event [***]. 
 3.5 Milestone Payments. Company shall pay to JHU the one-time milestone
payments as set forth in Exhibit A within thirty (30) days of achievement of each milestone-triggering event [***]. [***]. Company agrees that it will pay the accrued Phase II milestone payment when it submits the accrued Phase III
milestone payment to JHU. For clarity, to the extent that any Company products in development in LICENSED FIELD A are LICENSED PRODUCT(S) which, except for such product’s inclusion as LICENSED PRODUCT, would be a DEVELOPED PRODUCT(S) during the
term of the PATENT RIGHT(S), Company agrees to pay to JHU milestone payments attributed to LICENSED PRODUCT(S) until expiration of the last to expire of any PATENT RIGHT(S). Thereafter, Company agrees that with respect to such product, the milestone
payments attributed to DEVELOPED PRODUCTS will be paid by Company as subsequent milestones are met. 
 3.6 Sublicense
Consideration. Company shall pay to JHU sublicense consideration that Company receives for execution of a sublicense agreement as identified in Exhibit A of this Agreement. Such sublicense consideration shall mean consideration of any
kind received by [***] such as including but not limited to [***]. If any sublicense agreement includes [***], then Company may [***]. 

3.7 Patent Reimbursement. During the term of this Agreement, Company will reimburse JHU for [***]. Company shall reimburse
JHU such costs within [***]. [***] are identified and totaled in Exhibit E of this Agreement. JHU will provide to Company [***]. 

  

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 3.8 Equity. As partial consideration for the grants under Paragraph 2.1,
the Company shall issue to JHU and the Inventors within sixty (60) days of the EFFECTIVE DATE of this Agreement 111,111 shares [***]: 
  

	 	•	 	[***]; 

  

	 	•	 	[***]; 

  

	 	•	 	[***]; and 

  

	 	•	 	[***]. 

 Such shares shall be issued pursuant to customary Stock Issuance Agreements in
substantially the form attached hereto as Exhibit F. The equity interests granted under this Paragraph 3.8 shall be diluted at the same rate as the founders’ and any other issued common stock through subsequent rounds
of equity financing. 
 3.9 [***]. 

3.10 Form of Payment. All payments under this Agreement shall be made in U.S. Dollars by either check or wire transfer as
provided for in Paragraph 3.11 below. 
 3.11 Payment Information. All check payments from Company to JHU shall be sent to:

 [***] 
 or such other addresses which JHU
may designate in writing from time to time. Checks are to be made payable to [***]. 
 Wire transfers may be made through: 

[***] 
 Company shall be
responsible for any and all costs associated with wire transfers. Company shall provide JHU with the date of wire transfer payment and ACH confirmation number upon completion of such payment. 

3.12 Late Payments. In the event that any payment due hereunder is not made when due, [***]. 

3.13 Invoices. Any invoice for payments sent by JHU to Company may be electronically provided by
e-mail service. JHU will send invoices to an e-mail address provided by Company. Company will provide JHU with any updates to this
e-mail address. 
  

  

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 ARTICLE 4 

PATENT PROSECUTION, MAINTENANCE, & INFRINGEMENT 

4.1 Prosecution & Maintenance. [***], shall file, prosecute and maintain all patents and patent
applications specified under PATENT RIGHT(S) and, subject to the terms and conditions of this Agreement, [***]. [***] shall have full and complete control over all patent matters in connection therewith under the [***]. 

4.2 Notification. Each party will notify the other promptly in writing when any infringement of [***]. 

4.3 Infringement. [***] shall have the first right to enforce any patent within [***] against any infringement or alleged
infringement thereof for [***], but only for [***] for [***], and shall at all times [***]. Before [***] commences an action with respect to any infringement of any patent within the [***]. 

If [***] elects not to enforce any patent within [***], then it shall [***]. 

4.4 Patent Invalidity Suit. If a declaratory judgment action is brought naming [***] as a defendant and alleging invalidity of
any of [***]. 
 4.5 Recovery. Any recovery by [***] under Paragraph 4.3 shall be deemed to reflect [***], and [***]. 

ARTICLE 5 
 OBLIGATIONS
OF THE PARTIES 
 5.1 Reports. Company shall provide to JHU the following written reports according to the following
schedules. 
 (a) Until [***], Company shall provide [***], due within [***] following the EFFECTIVE DATE of this Agreement. These [***]
shall describe [***], including [***]. 
 (b) Upon achieving [***], Company shall provide [***], substantially in the format of Exhibit
B, accompanying each running royalty payment under Paragraph 3.3 of this Agreement. [***] shall disclose [***]. 
 (c) Company shall
provide [***] within [***]. [***] shall include: 
 [***]. 

(d) In lieu of sending reports to JHU via mail or via courier under this Paragraph 5.1, Company may electronically submit all required reports
to an e-mail address specified by JHU. 

  

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 5.2 Records. Company shall make and retain, for a period of three
(3) years following the period of each report required by Paragraph 5.1, true and accurate records, files and books of account containing all the data reasonably required for the full computation and verification of sales and other information
required in Paragraph 5.1. Such books and records shall be in accordance with generally accepted accounting principles consistently applied. Company shall permit the inspection and copying of such records, files and books of account by [***] during
[***] upon [***] written notice to Company. Such inspection shall not be made more than [***]. All costs of such inspection and copying shall be [***], provided that if any such inspection shall [***], such costs shall be borne by [***]. As a
condition to entering into any such agreement, Company shall include in any agreement with [***]. 
 5.3 Diligence Milestones:
Company will use [***] to [***]. [***]. 
 5.4 Other Products. After [***], demonstrating the [***], Company shall
[***] or [***]. If Company is [***], Company will [***]. 
 5.5 Patent Acknowledgement. Company agrees that all packaging
containing individual LICENSED PRODUCT(S) sold by Company, AFFILIATED COMPANIES and SUBLICENSEE(S) of Company will be marked with the number of the applicable patent(s) licensed hereunder in accordance with each country’s patent laws.

 5.6 Deliverable(s). Company received BIOLOGICAL MATERIAL(S) under the Option Agreement. Company agrees that it has adequate
supply of BIOLOGICAL MATERIAL(S) to fulfill its obligations under this Agreement and will take steps to maintain its supply of BIOLOGICAL MATERIAL(S) during the term of this Agreement. JHU is not obligated to provide additional quantities of
BIOLOGICAL MATERIAL(S) upon execution of this Agreement or thereafter during the term of this Agreement. 
 ARTICLE 6 

REPRESENTATIONS 

6.1 Duties of the Parties. JHU is not a commercial organization. It is an institute of research and education. Therefore,
JHU has no ability to evaluate the commercial potential of any PATENT RIGHT(S), LICENSED PRODUCT, DEVELOPED PRODUCT or other license or rights granted in this Agreement. It is therefore incumbent upon Company to evaluate the rights and products in
question, to examine the materials and information provided by JHU, and to determine for itself the validity of any PATENT RIGHT(S), its freedom to operate, and the value of any LICENSED PRODUCT(S) or other rights granted. 

6.2 Representations by JHU. JHU warrants that it has good and marketable title to its interest in the inventions claimed under
PATENT RIGHT(S) and BIOLOGICAL MATERIAL(S) with the exception of certain retained rights of the United States Government, which may apply if any part of the JHU research was funded in whole or in part by the United States Government. JHU does not
warrant the validity of any patents or that practice under such patents or use of such material shall be free of infringement. EXCEPT AS EXPRESSLY SET 

  

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FORTH IN THIS PARAGRAPH 6.2, COMPANY AGREES THAT THE PATENT RIGHT(S) AND BIOLOGICAL MATERIAL(S) ARE PROVIDED “AS IS”, AND THAT JHU MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO
THE PERFORMANCE OF BIOLOGICAL MATERIAL(S), LICENSED PRODUCT(S) AND DEVELOPED PRODUCT(S) INCLUDING THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY, OR WITH RESPECT TO THEIR UTILITY IN MAKING A DEVELOPED PRODUCT(S) OR THE USEFULNESS OF SUCH A
DEVELOPED PRODUCT(S). JHU DISCLAIMS ALL WARRANTIES WITH REGARD TO PRODUCT(S) LICENSED UNDER THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES, EXPRESSED OR IMPLIED, OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE.
NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, JHU ADDITIONALLY DISCLAIMS ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS, FOR DAMAGES, INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT, SPECIAL, AND CONSEQUENTIAL DAMAGES,
ATTORNEYS’ AND EXPERTS’ FEES, AND COURT COSTS (EVEN IF JHU HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING OUT OF OR IN CONNECTION WITH THE MANUFACTURE, USE, OR SALE OF THE PRODUCT(S) LICENSED UNDER THIS
AGREEMENT. AS BETWEEN THE PARTIES, COMPANY ASSUMES ALL RESPONSIBILITY AND LIABILITY FOR LOSS OR DAMAGE CAUSED BY A PRODUCT MANUFACTURED, USED, OR SOLD BY COMPANY, ITS SUBLICENSEE(S) AND AFFILIATED COMPANIES WHICH IS A LICENSED PRODUCT(S) OR A
DEVELOPED PRODUCT(S) AS DEFINED IN THIS AGREEMENT. 
 ARTICLE 7 

INDEMNIFICATION 

7.1 Indemnification. [***] would have no legal liability exposure to third parties if [***] or [***], and any [***].
Therefore, [***]. Furthermore, [***] will not, under the provisions of this Agreement or otherwise, [***]. [***] shall indemnify [***].  

ARTICLE 8 

CONFIDENTIALITY 

8.1 Confidentiality. If necessary, the parties will exchange information relating to the PATENT RIGHT(S), BIOLOGICAL
MATERIAL(S), LICENSED PRODUCT(S) and DEVELOPED PRODUCTS(S), as well as information related to the Company’s research, business plans and financial information, which they consider to be confidential. The recipient of such information agrees to
accept the disclosure of said information, and to employ all reasonable efforts to maintain the information secret and confidential, such efforts to be no less than the degree of care employed by the recipient to preserve and safeguard its own
confidential information. The information shall not be disclosed or revealed to anyone except employees of the recipient who have a need to know the information and who have entered into a secrecy agreement with the recipient under which such
employees are required to maintain confidential the proprietary information of the recipient and such employees shall be advised by the recipient of the confidential nature of the information and that the information shall be treated accordingly.

  

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 The obligations of this Paragraph 8.1 shall also apply to AFFILIATED COMPANIES and/or
SUBLICENSEE(S) provided such information by Company. JHU’s, Company’s, AFFILIATED COMPANIES’ and SUBLICENSEE(S)’ obligations under this Paragraph 8.1 shall extend until three (3) years after the expiration or termination of
this Agreement. 
 8.2 Exceptions. The recipient’s obligations under Paragraph 8.1 shall not extend to any part of the
information: 
  

	 	a.	that can be demonstrated to have been in the public domain or publicly known and readily available to the trade or the public prior to the date of the disclosure; 

 

	 	b.	that can be demonstrated, from written records to have been in the recipient’s possession or readily available to the recipient from another source not under obligation of secrecy to the disclosing party prior to
the disclosure; 

  

	 	c.	that becomes part of the public domain or publicly known by publication or otherwise, not due to any unauthorized act by the recipient; 

 

	 	d.	that is demonstrated from written records to have been developed by or for the receiving party without reference to confidential information disclosed by the disclosing party; or 

 

	 	e.	that is required to be disclosed by law, government regulation or court order. 

 8.3
Right to Publish. JHU may publish manuscripts, abstracts or the like describing the PATENT RIGHT(S) and inventions contained therein and BIOLOGICAL MATERIAL(S) provided confidential information of Company, as defined in Paragraph 8.1, is not
included or without first obtaining approval from Company to include such confidential information. Otherwise, JHU and the Inventors shall be free to publish manuscripts and abstracts or the like directed to the work done at JHU related to the
licensed technologies without prior approval. 

  
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 ARTICLE 9 

TERM & TERMINATION 

9.1 Term. The term of this Agreement shall commence on the EFFECTIVE DATE and shall continue, in each country, until the later
of: (i) date of expiration of the last to expire patent included within PATENT RIGHT(S) in that country and (ii) the expiration of all of Company’s payment obligations under this Agreement (the “TERM”). 

9.2 Termination by Either Party. This Agreement may be terminated by either party, in the event that the other party
(a) files or has filed against it a petition under the Bankruptcy Act, makes an assignment for the benefit of creditors, has a receiver appointed for it or a substantial part of its assets, or otherwise takes advantage of any statute or law
designed for relief of debtors or (b) fails to perform or otherwise materially breaches any of its obligations hereunder, if, following the giving of notice by the terminating party of its intent to terminate and stating the grounds therefor,
the party receiving such notice shall not have cured the failure or breach within [***]. In no event, however, shall such notice or intention to terminate be deemed to waive any rights to damages or any other remedy, which the party giving notice of
breach may have as a consequence of such failure or breach. 
 9.3 Termination by Company. Company may terminate this Agreement
and the licenses granted herein, for any reason, upon giving JHU ninety (90) days written notice in accordance with Paragraph 10.6 of this Agreement. 

9.4 Obligations and Duties upon Termination or Expiration. If this Agreement is terminated or expired, both parties shall be
released from all obligations and duties imposed or assumed hereunder to the extent so terminated or expired, except as expressly provided to the contrary in this Agreement. Upon termination or expiration, both parties shall cease any further use of
the confidential information disclosed to the receiving party by the other party. Termination or expiration of this Agreement, for whatever reason, shall not affect the obligation of either party to make any payments for which it is liable prior to
or upon such expiration or termination. Expiration or termination shall not affect JHU’s right to recover unpaid royalties, fees, reimbursement for patent expenses, or other forms of financial compensation incurred prior to expiration or
termination. 
 (a) Upon expiration or termination, Company shall submit any accrued royalty payments for [***] with [***], accrued fees,
unreimbursed patent expenses and other accrued financial compensation due to JHU shall become immediately payable. 
 (b) Upon expiration or
termination of this Agreement, [***], except that [***]. Furthermore, upon expiration or termination of this Agreement, [***], except that [***]. 

(c) Upon termination of this Agreement, any SUBLICENSEE(S) shall become a direct licensee of JHU, provided that JHU’s obligations to
SUBLICENSEE(S) are no greater than JHU’s obligations to Company under this Agreement and SUBLICENSEE(S) will have no obligation to pay any amounts to JHU in excess of the amounts that would have been due to JHU by Company under this Agreement.
Company shall provide written notice of termination of the Agreement to each SUBLICENSEE(S) with a copy of such notice provided to JHU. 

  

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 9.5 Obligation regarding DEVELOPED PRODUCT(S). Expiration or termination of
this Agreement shall not affect [***] obligation under Paragraph 3.3(c) to [***] on [***] and provide [***] under Paragraph 5.1(b) for any sales prior to the conclusion of the [***]. Such obligation will survive expiration or termination of this
Agreement. 
 ARTICLE 10 

MISCELLANEOUS 
 10.1
Use of Name. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall not use the name of The Johns Hopkins University or The Johns Hopkins Health System or any of its constituent parts, such as the Johns Hopkins Hospital or any contraction
thereof or the name of Inventors in any advertising, promotional, sales literature or fundraising documents without prior written consent from an authorized representative of JHU. Company, AFFILIATED COMPANIES and SUBLICENSEE(S) shall allow at least
seven (7) business days’ notice of any proposed public disclosure for JHU’s review and comment or to provide written consent. 

10.2 No Partnership. Nothing in this Agreement shall be construed to create any agency, employment, partnership, joint venture or
similar relationship between the parties other than that of a licensor/licensee. Neither party shall have any right or authority whatsoever to incur any liability or obligation (express or implied) or otherwise act in any manner in the name or on
the behalf of the other, or to make any promise, warranty or representation binding on the other. 
 10.3 Notice of Claim. Each
party shall give the other or its representative immediate notice of any suit or action filed, or prompt notice of any claim made, against them arising out of the performance of this Agreement or arising out of the practice of the inventions
licensed hereunder. 
 10.4 Product Liability Insurance. Prior to [***], Company shall establish and maintain, [***], product
liability or other appropriate insurance coverage in the minimum amount of [***] and will [***] present evidence to JHU that such coverage is being maintained. Company will furnish JHU with [***]. [***]. If such Product Liability insurance is
underwritten on a [***] basis, Company agrees that [***]. 
 10.5 Governing Law. This Agreement shall be construed, and legal
relations between the parties hereto shall be determined, in accordance with the laws of [***] applicable to contracts solely executed and wholly to be performed within [***] without giving effect to the principles of conflicts of law. Any disputes
between the parties to this Agreement shall be brought in [***]. Both parties agree to waive their right to a jury trial. 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request

  
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 10.6 Notice. All notices or communication required or permitted to be given by
either party hereunder shall be deemed sufficiently given if mailed by registered mail or certified mail, return receipt requested, or sent by overnight courier, such as Federal Express, to the other party at its respective address set forth below
or to such other address as one party shall give notice of to the other from time to time hereunder (“Notice”). Mailed notices shall be deemed to be received on the third business day following the date of mailing. Notices sent by
overnight courier shall be deemed received the following business day. 
  

			
	 If to Company:
	  	Allakos, Inc.
		  	75 Shoreway Road, Suite A
		  	San Carlos, CA 94070
		  	[***]
		
	 If to JHU:
	  	[***]

 10.7 Compliance with All Laws. In all activities undertaken pursuant to this Agreement, both JHU
and Company covenant and agree that each will in all material respects comply with such Federal, state and local laws and statutes, as may be in effect at the time of performance and all valid rules, regulations and orders thereof regulating such
activities. 
 10.8 Successors and Assigns. Neither this Agreement nor any of the rights or obligations created herein, except
for the right to receive any remuneration hereunder, may be assigned by either party, in whole or in part, without [***], except that [***] shall be free to assign this Agreement in connection with [***]. Such assignment shall be subject to [***].
This Agreement shall bind and inure to the benefit of the successors and permitted assigns of the parties hereto. 
 10.9 No
Waivers; Severability. No waiver of any breach of this Agreement shall constitute a waiver of any other breach of the same or other provision of this Agreement, and no waiver shall be effective unless made in writing. Any provision hereof
prohibited by or unenforceable under any applicable law of any jurisdiction shall, as to such jurisdiction, be deemed ineffective and deleted herefrom without affecting any other provision of this Agreement. It is the desire of the parties hereto
that this Agreement be enforced to the maximum extent permitted by law, and should any provision contained herein be held by any governmental agency or court of competent jurisdiction to be void, illegal and unenforceable, the parties shall
negotiate in good faith for a substitute term or provision which carries out the original intent of the parties. 
 10.10 Entire
Agreement; Amendment. Company and JHU acknowledge that they have read this entire Agreement and that this Agreement, including the attached Exhibits, constitutes the entire understanding and contract between the parties hereto and
supersedes any and all prior or contemporaneous oral or written communications with respect to the subject matter hereof, all of which communications are merged herein. It is expressly understood and agreed that (i) there being no expectations
to the contrary between the parties hereto, no usage of trade, verbal agreement or another regular practice or method dealing within any industry or between the parties hereto shall be used to modify, interpret, supplement or alter in any manner the
express terms of this Agreement; and (ii) this Agreement shall not be modified, amended or in any way altered except by an instrument in writing signed by both of the parties hereto. 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request

  
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 10.11 Delays or Omissions. Except as expressly provided herein, no delay or
omission to exercise any right, power or remedy accruing to any party hereto, shall impair any such right, power or remedy to such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or in any
similar breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement,
or any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies either under this Agreement or by law or
otherwise afforded to any party, shall be cumulative and not alternative. 
 10.12 Force Majeure. If either party fails to
fulfill its obligations hereunder (other than an obligation for the payment of money), when such failure is due to an act of God, or other circumstances beyond its reasonable control, including but not limited to fire, flood, civil commotion, riot,
war (declared and undeclared), revolution, or embargoes, then said failure shall be excused for the duration of such event and for such a time thereafter as is reasonable to enable the parties to resume performance under this Agreement, provided
however, that in no event shall such time extend for a period of more than one hundred eighty (180) days. 
 10.13 Further
Assurances. Each party shall, at any time, and from time to time, prior to or after the EFFECTIVE DATE of this Agreement, at reasonable request of the other party, execute and deliver to the other such instruments and documents and shall take
such actions as may be required to more effectively carry out the terms of this Agreement. 
 10.14 Survival. All
representations, warranties, covenants and agreements made herein and which by their express terms or by implication are to be performed after the execution and/or termination hereof, or are prospective in nature, shall survive such execution and/or
termination, as the case may be. This shall include Paragraphs 3.10 (Late Payments), 5.2 (Records), 9.5 (Obligation regarding DEVELOPED PRODUCT(S)) and Articles 6, 7, 8, 9, and 10. 

10.15 No Third Party Beneficiaries. Nothing in this Agreement shall be construed as giving any person, firm, corporation or other
entity, other than the parties hereto and their successors and permitted assigns, any right, remedy or claim under or in respect of this Agreement or any provision hereof. 

10.16 Headings. Article headings are for convenient reference and are not a part of this Agreement. All Exhibits are incorporated
herein by this reference. 
 10.17 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed
an original and all of which when taken together shall be deemed but one instrument. 
 [REST OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, this Agreement shall take effect as of the EFFECTIVE DATE when it has
been executed below, by the duly authorized representatives of the parties. 
  

					
	THE JOHNS HOPKINS UNIVERSITY	 		  	ALLAKOS INC.
			
	     /s/ Neil Veloso
	 		  	     /s/ Chris Bebbington

	Neil Veloso	 		  	Christopher Bebbington
	Executive Director, Johns Hopkins Technology Transfer	 		  	President & CEO
	Johns Hopkins Technology Ventures	 		  	
			
	     10/14/2016
	 		  	     10/14/2016

	(Date)	 		  	(Date)

  

			
	EXHIBIT A.	  	LICENSE FEES, ROYALTIES, PAYMENTS & EQUITY UNDER ARTICLE 3
		
	EXHIBIT B.	  	[***] REPORT FORM UNDER PARAGRAPH 5.1(b)
		
	EXHIBIT C.	  	PATENT RIGHT(S) UNDER PARAGRAPH 1.14
		
	EXHIBIT D.	  	BIOLOGICAL MATERIAL(S) UNDER PARAGRAPH 1.2
		
	EXHIBIT E.	  	[***] UNDER PARAGRAPH 3.7
		
	EXHIBIT F.	  	FORM OF STOCK ISSUANCE AGREEMENT UNDER PARAGRAPH 3.8

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request

  
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 EXHIBIT A 

LICENSE FEE, ROYALTIES, PAYMENTS AND EQUITY UNDER ARTICLE 3 
  

	1.	License Fee and Amendment Fee: The license fee payable under Paragraph 3.1(a) is [***]. The amendment fee payable under Paragraph 3.1(b) is [***]. 

 

	2.	Minimum Annual Royalties: The minimum annual royalties payable under Paragraph 3.2 are: 

  

							
	 	  	 Anniversary
	  	 Amount
	  	 

 [***] 
  

	3.	Royalties: The running royalty rates payable under Paragraph 3.3 are: 

 [***] 

 

	4.	Diligence Milestone Payments: The diligence milestone payments payable under Paragraph 3.5 are: 

[***]. 
  

	5.	Sublicense Consideration: The percent sublicense consideration payable under Paragraph 3.6 is: 

[***]. 
  

	6.	Equity: The equity to be issued to JHU under Paragraph 3.8 is: 

 111,111 shares of the
Company’s common stock pursuant to a customary Stock Issuance Agreement 
  

	7.	Patent Expense Reimbursement: The patent expense reimbursement under Paragraph 3.7 is: 

[***] 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request.

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 EXHIBIT B 

[***] REPORT UNDER PARAGRAPH 5.1(b) 

FOR LICENSE AGREEMENT A30817 

BETWEEN 
 ALLAKOS INC. AND
THE JOHNS HOPKINS UNIVERSITY 
 EFFECTIVE
DATE                                         

[***] 
 This report format is to be used to report
[***] to JHU. [***]. 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request.

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 EXHIBIT C 

PATENT RIGHTS UNDER PARAGRAPH 1.14 

[***] 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request.

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 EXHIBIT D 

BIOLOGICAL MATERIAL(S) UNDER PARAGRAPH 1.2 

[***] 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request.

 FINAL 

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 EXHIBIT E 

[***] UNDER PARAGRAPH 3.7 

[***] 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request.

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 EXHIBIT F 

FORM OF STOCK ISSUANCE AGREEMENT UNDER PARAGRAPH 3.8 

(see attached) 

  

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 ALLAKOS INC. 

COMMON STOCK ISSUANCE AGREEMENT 

This Common Stock Issuance Agreement (the “Agreement”) is made as of
                    , 2013, by and between Allakos Inc., a Delaware corporation (the “Company”), and The Johns Hopkins University
(the “JHU”). 
 RECITALS 

A. JHU and the Company are each a party to that certain Exclusive License Agreement with an effective date of
                    , 2013 (the “License Agreement”), pursuant to which JHU licensed certain intellectual property rights to the
Company. 
 B. Pursuant to Section 3.8 of the License Agreement, JHU is entitled to receive 111,111 shares of Common Stock of the
Company. 
 C. The Board of Directors of the Company has approved the issuance of 111,111 shares of Common Stock of the Company as
fulfillment in full of the Company’s obligation to grant such equity award to JHU pursuant to Section 3.8 of the License Agreement. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and each intending to be bound hereby, the Company and JHU hereby agree as follows: 

1. Issuance of Common Stock. 

(a) The Company hereby issues to JHU 111,111 shares of the Company’s Common Stock (the “Shares”) at a price of $[***]
(par value) per Share and an aggregate Purchase Price of $[***] (the “Purchase Price”). The Company will promptly, after delivery of this Agreement, issue a certificate representing the Shares registered in the name of JHU. 

(b) The Purchase Price for the Shares shall be deemed to be paid in full by JHU’s execution of the License Agreement and the grants made
by JHU pursuant to Section 2.1 of the License Agreement. 
 (c) JHU acknowledges and agrees that, except for JHU’s participation
rights set forth in Section 3.9 of the License Agreement, the issuance of the Shares satisfies in full any and all rights that JHU may have to acquire or otherwise receive equity securities or securities convertible into or exercisable for
equity securities of the Company pursuant to the License Agreement. 
 2. Stock Splits, etc. If, from time to time
during the term of this Agreement: 
 (a) there is any stock dividend or dividend of cash and/or property, stock split, or other change in
the character or amount of any of the outstanding securities of the Company, including any conversion of outstanding securities of the Company into cash or securities of another corporation, person, or entity in connection with any acquisition,
merger, consolidation, or similar transaction involving the Company; or 

  

	***	Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request

  
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 (b) there is any liquidation, dissolution, or similar transaction, 

then, in such event, any and all new, substituted or additional securities, or other property to which JHU is entitled by reason of its ownership of Shares
shall be immediately subject to this Agreement and be included in the word “Shares” for all purposes with the same force and effect as the Shares presently subject to the right of first refusal, market standoff agreement and other terms of
this Agreement. 
 3. Right of First Refusal. Before any Shares registered in the name of JHU or of any transferee
(either being sometimes referred to herein as the “Holder”) thereof may be sold or transferred (including any transfer by operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares
on the terms and conditions set forth in this Section 3 (the “Right of First Refusal”). 
 (a) Notice of Proposed
Transfer. The Holder of the Shares shall deliver to the Company a notice (the “Notice”) stating (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each
proposed purchaser or other transferee (the “Proposed Transferee”); (iii) the number of Shares to be sold or transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the
Holder proposes to sell or transfer such Shares (the “Offered Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s). 

(b) Exercise of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or
its assignee(s) may, by giving written notice to the Holder, elect to purchase all or part of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection
(c) below. 
 (c) Purchase Price. The purchase price for the Shares purchased by the Company (the “Company’s
Price”) or its assignee(s) under this Section 3 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration
shall be determined by the Board of Directors of the Company in good faith. 
 (d) Payment. Payment of the Company’s Price
shall be made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or
by any combination thereof within thirty (30) days after receipt of the Notice or in the manner and at the times set forth in the Notice. 

(e) Holder’s Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee
are not purchased by the Company and/or its assignee(s) as provided in this Section 3, then the Holder may sell or otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such
sale or other transfer is consummated within one hundred and twenty (120) days after the date of 

  
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the Notice, that any such sale or other transfer is effected in accordance with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this
Section 3 shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and
the Company and/or its assignees shall again be offered the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred. 

(f) Termination of Right of First Refusal. The Right of First Refusal shall terminate upon the earlier of (i) the effective
date of a registration statement filed by the Company under the Securities Act of 1933, as amended (the “Securities Act”), with respect to a public offering of Common Stock of the Company, or (ii) the closing date of a sale of
assets or merger of the Company or other acquisition transaction pursuant to which stockholders of the Company receive cash or securities of a buyer whose shares are publicly traded. 

(g) Invalid Transfers. The Company shall not be required (i) to transfer on its share register any Shares which shall have
been purportedly sold or transferred if such transfer would be in violation of this Agreement or (ii) to treat as owner of such Shares, to accord the right to vote as such owner, or to pay dividends to any purported transferee to whom such
Shares shall have purportedly been so transferred. 
 4. Legends. All certificates representing any of the Shares shall
have endorsed thereon legends in substantially the following form: 
 (a) “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
CERTAIN RESTRICTIONS ON TRANSFER, INCLUDING A RIGHT OF FIRST REFUSAL ON TRANSFERS, SET FORTH IN AN AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR ITS, HIS OR HER PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL
OFFICE OF THE COMPANY.” 
 (b) “THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY
NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.”

 (c) Any legend required to be placed thereon by the applicable blue sky laws of any state. 

5. JHU’s Representations. In connection with the purchase of the Shares, JHU hereby represents and warrants to the
Company as follows: 
 (a) Investment Intent. JHU is purchasing the Shares solely for investment and not with any present
intention of selling or otherwise disposing of the Shares or any portion thereof in any transaction other than a transaction exempt from registration under the Securities Act. JHU also represents that the entire legal and beneficial interest of the
Shares is being purchased, and will be held, for JHU’s account only, and neither in whole nor in part for any other person or entity. 

  
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 (b) Residence. JHU principal location is at the address indicated beneath
JHU’s signature below. 
 (c) Information Concerning Company. JHU has had the opportunity to discuss the plans,
operations, and financial condition of the Company with its officers and has received all information JHU has deemed appropriate to enable JHU to evaluate the financial risk inherent in investing in the Shares. JHU has a preexisting business
relationship with the Company or any of its officers, directors, or controlling persons or by reason of JHU’s business or financial experience or the business or financial experience of JHU’s professional advisors who are unaffiliated with
and who are not compensated by the Company, directly or indirectly, could be reasonably assumed to have the capacity to evaluate the merits and risks of an investment in the Company and to protect JHU’s own interests in connection with these
transactions. 
 (d) Economic Risk. JHU realizes that the purchase of the Shares involves a high degree of risk, and JHU is
able, without impairing its financial condition, to hold the Shares for an indefinite period of time and to suffer a complete loss of their value. 

(e) Restricted Securities. JHU acknowledges that the sale of the Shares has not been registered under the Securities Act. The
Shares must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available, and the Company is under no obligation to register the Shares. 

(f) Rule 144. JHU is familiar with Rule 144 adopted under the Securities Act, which in some
circumstances permits limited public resales of “restricted securities” like the shares acquired from an issuer in a non-public offering. JHU understands that its ability to sell the Shares under
Rule 144 in the future is uncertain, and may depend upon, among other things: (i) the availability of certain current public information about the Company; (ii) the resale occurring more than a specified period after JHU’s purchase
and full payment (within the meaning of Rule 144) for the Shares; and (iii) if JHU is an affiliate of the Company (A) the sale being made in an unsolicited “broker’s transaction”, transactions directly with a market maker or
riskless principal transactions, as those terms are defined under the Securities Exchange Act of 1934, as amended, (B) the amount of shares being sold during any three-month period not exceeding the specified limitations stated in Rule 144, and
(C) timely filing of a notice of proposed sale on Form 144, if applicable. JHU further understands that the requirements of Rule 144 may never be met, and that the Shares may never be saleable under the rule. JHU further understands that
at the time it wishes to sell the Shares, there may be no public market for the Company’s stock upon which to make such a sale, or the current public information requirements of Rule 144 may not be satisfied, either of which may preclude
JHU from selling the Shares under Rule 144 even if the relevant holding period had been satisfied. 
 (g) Further Limitations on
Disposition. Without in any way limiting the representations set forth above, JHU further agrees that it shall in no event make any disposition of any portion of the Shares unless and until: 

  
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 (i) (A) there is in effect a registration statement under the Securities Act covering
such proposed disposition and such disposition is made in accordance with said registration statement; (B) the resale provisions of Rule 701 or Rule 144 are available in the opinion of counsel to the Company; or (C)(1) JHU shall
have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, (2) JHU shall have furnished the Company with an opinion of
JHU’s counsel, reasonably acceptable to the Company to the effect that such disposition will not require registration of such shares under the Securities Act, and (3) such opinion of JHU’s counsel shall have been concurred in by
counsel for the Company and the Company shall have advised JHU of such concurrence; and 
 (ii) JHU shall have complied with the Right of
First Refusal set forth in Section 3. 
 (h) Responsibility for Tax Consequences. JHU has reviewed the federal, state,
local and foreign tax consequences of this investment and the transactions contemplated by this Agreement (including any tax consequences that may result now or in the future under recently enacted tax legislation) and has had the opportunity to
consult with its tax advisors, if any, regarding such consequences. JHU acknowledges that it is not relying on any statements or representations of the Company or any of the Company’s agents in regard to such tax consequences and understands
that JHU (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. JHU acknowledges that the Company has no obligation in regard to the
future conduct of its business, to act or refrain from acting in any manner, regardless of the loss of any tax benefit to JHU in connection with the purchase, ownership, or sale of the Stock, which may result from such action or inaction. 

6. Market Standoff Agreement. JHU hereby agrees that JHU shall not offer, pledge, sell, contract to sell, sell any option
or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common Stock (or other securities) of the Company or enter into
any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock (or other securities) of the Company held by JHU (other than those included in the registration)
for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty (180) days following the effective date of any registration statement of the Company
filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst
recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto). 

JHU agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent
with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company, JHU shall provide, within ten
(10) days of such request, such information as may be required by the 

  
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Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The
obligations described in this Section 6 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that
may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer
instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred and eighty (180) day (or other) period. JHU agrees that any transferee of the Shares shall be
bound by this Section 6. 
 7. Governing Law. This Agreement shall be governed by the laws of the State of
California without regard to the conflicts of law provisions thereof. 
 8. Jurisdiction; Venue. The parties consent to
the exclusive jurisdiction of, and venue in, the state courts in Santa Clara County in the State of California (or in the event of exclusive federal jurisdiction, the courts of the Northern District of California) with respect to any disputes
arising out of or related to this Agreement which is not resolved by the relevant parties thereto themselves in writing. 
 9.
Dispute Resolution Fees. If any action at law or in equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and disbursements in addition
to any other relief to which such party may be entitled. 
 10. Amendments and Waivers. Any term of this Agreement may
be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the parties hereto. 

11. Additional Actions. The parties will execute such further instruments and take such further action as may reasonably
be necessary to carry out the intent of this Agreement. 
 12. Notices. Any notice required or permitted hereunder shall
be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States Post Office, by regular or certified mail with postage and fees prepaid, addressed, if to JHU, at its address shown on the
Company’s records and, if to the Company, at the address of its principal corporate offices (Attention: President) or at such other address as such party may designate by ten (10) days’ advance written notice to the other party. 

13. Assignment. The Company may assign its rights and delegate its duties under this Agreement. If any such assignment or
delegation requires consent of the California Commissioner of Corporations, the parties agree to cooperate in requesting such consent. 

14. Successors and Assigns. This Agreement shall inure to the benefit of the successors and assigns of the Company and,
subject to the restrictions on transfer herein set forth, be binding upon JHU and its successors and assigns. 

  
 6 

 FINAL 

CONFIDENTIAL 
  

 15. Severability. In case any provision of this Agreement shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

16. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but
all of which together shall constitute one instrument. 
 17. Entire Agreement. This Agreement constitutes the full and
entire understanding and agreement between the Company and JHU with regard to the subjects hereof and thereof, and no party shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties,
representations, or covenants, except as specifically set forth herein. 
 [Remainder of page intentionally left blank] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Common Stock Issuance Agreement
as of the day and year first above written. 
  

					
	“COMPANY”	  	ALLAKOS INC.
			
		  	BY:	  	  

		  	NAME:	  	  

		  	TITLE:	  	  

		
	“JHU”	  	THE JOHNS HOPKINS UNIVERSITY
			
		  	BY:	  	  

		  	NAME:	  	  

		  	TITLE:	  	  

			
		  	Address:	  	

  
 8EX-10.1

 Exhibit 10.1 

CRINETICS PHARMACEUTICALS, INC. 

2015 STOCK INCENTIVE PLAN 

(As Amended and Restated Effective October 30, 2015) 

This is the 2015 Stock Incentive Plan (the “Plan”), established by Crinetics Pharmaceuticals, Inc., a Delaware corporation
(the “Company”), as originally adopted by its Board of Directors as of February 16, 2015, and as further amended and restated by its Board of Directors effective as of October 30, 2015 (the “Effective Date”).

 ARTICLE 1. 

PURPOSES OF THE PLAN 

1.1    Purposes.    The purposes of the Plan
are (a) to enhance the Company’s ability to attract and retain the services of qualified employees, officers and directors (including non-employee officers and directors), and consultants and other service providers upon whose judgment,
initiative and efforts the successful conduct and development of the Company’s business largely depends (“Key Team Members”), and (b) to provide additional incentives to such persons or entities to devote their utmost
effort and skill to the advancement and betterment of the Company, by providing them an opportunity to participate in the ownership of the Company and thereby have an interest in the success and increased value of the Company. 

ARTICLE 2. 
 DEFINITIONS

 For purposes of this Plan, the following terms shall have the meanings indicated: 

2.1    Administrator.    
“Administrator” means the Board or, if the Board delegates responsibility for any matter to the Committee, the term Administrator shall mean the Committee. 

2.2    Affiliated Company.    “Affiliated
Company” means any “parent corporation” or “subsidiary corporation” of the Company, whether now existing or hereafter created or acquired, as those terms are defined in Sections 424(e) and 424(f) of the Code, respectively.

 2.3    Award.    “Award” means
any Option, Restricted Stock or Stock Appreciation Right granted to a Participant under the Plan. 

2.4    Award Agreement.    “Award
Agreement” means any Option Agreement, Restricted Stock Purchase Agreement or Stock Appreciation Rights Agreement entered into between the Company and a Participant under the Plan. 

2.5    Base Value.    “Base Value” shall have the meaning set forth in
Section 7.3 hereof. 

2.6    Board.    “Board” means the Board of Directors of the Company.

 2.7    Cause.    “Cause” shall, unless otherwise defined in
a Participant’s written employment agreement or Award Agreement, mean: (a) the commission of any act of fraud, embezzlement or dishonesty by Participant which adversely affects the business of the Company, the acquiring or successor entity
(or parent or any subsidiary thereof), (b) any unauthorized use or disclosure by Participant of 

  
 1 

 
confidential information or trade secrets of the Company, the acquiring or successor entity (or parent or any subsidiary thereof), (c) the refusal or omission by the Participant to perform any
duties required of him if such duties are consistent with duties customary for the position held with the Company, the acquiring or successor entity (or parent or any subsidiary thereof), (d) any act or omission by the Participant involving
malfeasance or gross negligence in the performance of Participant’s duties to, or deviation from any of the policies or directives of, the Company or the acquiring or successor entity (or parent or any subsidiary thereof), (e) conduct on the
part of Participant which constitutes the breach of any statutory or common law duty of loyalty to the Company, the acquiring or successor entity (or parent or any subsidiary thereof), or (f) any illegal act by Participant which adversely
affects the business of the Company, the acquiring or successor entity (or parent or any subsidiary thereof), or any felony committed by Participant, as evidenced by conviction thereof. 

2.8    Change in Control.    “Change in Control” means the occurrence
of any of the following: 
 (a)    If the Company has a class of securities
registered pursuant to Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by directors whose
appointment or election is not endorsed by a majority vote of the members of the Board before the date of the appointment or election. For purposes of this clause (a), if any Person is considered to be in effective control of the Company, the
acquisition of additional control of the Company by the same Person will not be considered a Change in Control; 

(b)    The date that any one person, or more than one person acting as a Group
(“Person”) acquires ownership of stock of the Company that, together with stock held by such Person, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of the Company,
provided that a Change in Control shall not be deemed to occur (i) on account of the acquisition of securities of the Company directly from the Company, (ii) on account of the acquisition of securities of the Company by an investor, any
affiliate thereof or any other Person that acquires the Company’s securities in a transaction or series of related transactions the primary purpose of which is to obtain financing for the Company through the issuance of equity securities or
(iii) solely because the level of ownership held by any Person exceeds the designated percentage threshold of the outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the
number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and after such share acquisition, the Person becomes the
owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the percentage of the then outstanding voting securities owned by the Person over the designated percentage threshold, then a
Change in Control shall be deemed to occur; or 
 (c)    a change in the ownership of
a substantial portion of the assets of the Company which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such Person) assets of the Company
and its subsidiaries (taken as a whole) that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company and its subsidiaries (taken as a whole) immediately
prior to such acquisition or acquisitions. For purposes of this clause (c), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated
with such assets. 
 Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as
a change in control event within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be
promulgated thereunder from time to 

  
 2 

 
time. Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change the jurisdiction of the Company’s
incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction. 

2.9    Code.    “Code” means the Internal Revenue Code of 1986, as
amended from time to time, and applicable Treasury Regulations and administrative guidance promulgated thereunder. 

2.10    Committee.    “Committee” means a committee of two or more
members of the Board appointed to administer the Plan pursuant to Section 8.1 hereof. 

2.11    Common Stock.    “Common Stock” means the Common Stock of the
Company. 
 2.12    Company.    “Company” shall have the meaning set
forth in the preamble to this Plan. 

2.13    Consultant.    “Consultant” means any consultant or
advisor if: (a) the consultant or advisor renders bona fide services to the Company or any Affiliated Company; (b) the services rendered by the consultant or advisor are not in connection with the offer or sale of securities in a
capital-raising transaction and do not directly or indirectly promote or maintain a market for the Company’s securities; and (c) the consultant or advisor is a natural person who has contracted directly with the Company or any Affiliated
Company to render such services. 
 2.14    Continuous
Service.    Unless otherwise provided in an Award Agreement, the terms of which may be different from the following, “Continuous Service” means (a) Participant’s employment by either the Company or any
Affiliated Company, or by successor entity following a Change in Control, which is uninterrupted except for vacations, illness (not including Disability), or leaves of absence which are approved in writing by the Company or any of such other
employer corporations, as applicable, (b) service as a member of the Board until the Participant resigns, is removed from office, or Participant’s term of office expires and he or she is not reelected, or (c) so long as the
Participant is engaged as a Consultant or other Service Provider. 

2.15    Disability.    “Disability” means permanent and
total disability as defined in Section 22(e)(3) of the Code. The Administrator’s determination of a Disability or the absence thereof shall be conclusive and binding on all interested parties. 

2.16    Effective Date.    “Effective Date” shall have the meaning set
forth in the preamble to this Plan. 

  
 3 

 2.17    Equity
Restructuring.    “Equity Restructuring” means, as determined by the Administrator, a non-reciprocal transaction between the Company and its stockholders,
such as a stock dividend, stock split, spin-off or recapitalization through a large, nonrecurring cash dividend, that affects the shares of Common Stock (or other securities of the Company) or the share price
of Common Stock (or other securities of the Company) and causes a change in the per share value of the Common Stock underlying outstanding Awards. 

2.18    Established Securities Market.    “Established
Securities Market” means either: (a) a securities exchange registered with the Securities and Exchange Commission under Section 6 of the Exchange Act; (b) a foreign national securities exchange officially recognized, sanctioned
or supervised by governmental authority; or (c) an OTC Market. 
 2.19    Exchange
Act.    “Exchange Act” means the Securities and Exchange Act of 1934, as amended. 

2.20    Exercise Price.    “Exercise Price” means the
purchase price per share of Common Stock payable upon exercise of an Option. 
 2.21    Fair Market
Value.    “Fair Market Value” on any given date means the value of a share of Common Stock, determined as follows: 

(a)    If the Common Stock is then readily tradable on an Established Securities
Market, the Fair Market Value shall be determined by the Administrator through the application of a valuation method permitted under Treasury Regulation Section 1.409A-1(b)(5)(iv)(A); and 

(b)    If the Common Stock is not then readily tradable on an Established Securities
Market, the Fair Market Value shall be determined by the Administrator in good faith through the reasonable application of a reasonable valuation method in accordance with Treasury Regulation Section 1.409A-1(b)(5)(iv)(B), which determination
shall be conclusive and binding on all interested parties. 
 2.22    FINRA
Dealer.    “FINRA Dealer” means a broker-dealer that is a member of the Financial Industry Regulatory Authority, Inc. 

2.23    Group.    “Group” is as defined in paragraph (i)(5)(v)(B) of
Treasury Regulation Section 1.409A-3. 
 2.24    Incentive
Option.    “Incentive Option” means any Option designated and qualified as an “incentive stock option” as defined in Section 422 of the Code. 

2.25    New Incentives.    “New Incentives” shall have the meaning set
forth in Section 9.1(a) hereof. 

  
 4 

 2.26    Nonqualified
Option.    “Nonqualified Option” means any Option that is not an Incentive Option. To the extent any Option designated as an Incentive Option fails in whole or in part to qualify as an Incentive Option,
including without limitation, for failure to meet the requirements applicable to 10% Stockholders or because the annual limit described in Section 5.7 hereof is exceeded, it shall to that extent constitute a Nonqualified
Option. 
 2.27    Option.    “Option” means any option to purchase
Common Stock granted pursuant to Article 5 hereof. 
 2.28    Option
Agreement.    “Option Agreement” means the written agreement entered into between the Company and an Optionee with respect to an Option granted under the Plan. 

2.29    Optionee.    “Optionee” means a Participant who holds an
Option. 
 2.30    OTC Market.    “OTC Market” means an
over-the-counter market reflected by the existence of an interdealer quotation system. 

2.31    Participant.    “Participant” means a Key Team Member that
holds an Option, Restricted Stock or Stock Appreciation Right granted pursuant to the Plan. 

2.32    Plan.    “Plan” means this amended and restated 2015 Stock
Incentive Plan of the Company. 
 2.33    Publicly
Held.    “Publicly Held” means, with respect to the Company, any point in time in which any class of common equity securities of the Company are required to be registered under Section 12 of the Exchange
Act. 
 2.34    Purchase Price.    “Purchase Price” means the
purchase price payable to purchase a share of Restricted Stock. 
 2.35    Repurchase
Right.    “Repurchase Right” means the right of the Company to repurchase shares of Common Stock issued pursuant to an Award granted under the Plan. 

2.36    Restricted Stock.    “Restricted Stock” means shares of Common
Stock issued pursuant the Plan, subject to any restrictions and conditions as are established pursuant to Article 6 hereof. 

2.37    Restricted Stock Purchase Agreement.    “Restricted Stock
Purchase Agreement” means the written agreement entered into between the Company and a Participant with respect to the purchase of Restricted Stock under the Plan. 

2.38    Securities Act.    “Securities Act” means the Securities Act of
1933, as amended. 
 2.39    Service Provider.    “Service
Provider” means a Consultant or other natural person the Administrator authorizes to become a Participant in the Plan and who provides services to: (a) the Company; (b) an Affiliated Company; or (c) any other business venture
designated by the Administrator in which the Company (or any entity that is a successor to the Company) or an Affiliated Company has a significant ownership interest. 

2.40    Stock Appreciation Right.    “Stock Appreciation
Right” means a contractual right granted to a Participant pursuant to Article 7 hereof, the exercise or settlement of which entitles the Participant to receive shares of Common Stock, cash, or a combination of Common Stock and cash,
equal 

  
 5 

 
to the difference between the Base Value per share of the Stock Appreciation Right and the Fair Market Value of a share of Common Stock on the date of exercise or settlement, multiplied by the
number of shares subject to the Stock Appreciation Right at such time, and subject to such conditions set forth in this Plan and the applicable Stock Appreciation Rights Agreement. 

2.41    Stock Appreciation Rights Agreement.    “Stock
Appreciation Rights Agreement” means the written agreement entered into between the Company and a Participant with respect to a Stock Appreciation Right granted under the Plan. 

2.42    10% Stockholder.    “10% Stockholder” means a
person who, as of a relevant date, owns or is deemed to own (by reason of the attribution rules applicable under Section 424(d) of the Code) stock possessing more than 10% of the total combined voting power of all classes of stock of the
Company or of an Affiliated Company measured as of an Incentive Option’s date of grant. 

2.43    Treasury Regulations.    “Treasury Regulations” shall mean the
regulations of the United States Treasury Department promulgated under the Code. 
 ARTICLE 3. 

ELIGIBILITY 

3.1    Incentive Options.    Only employees of the Company or of an
Affiliated Company (including officers of the Company and members of the Board if they are employees of the Company or of an Affiliated Company) are eligible to receive Incentive Options under the Plan. 

3.2    Nonqualified Options, Restricted Stock and Stock Appreciation
Rights.    Employees of the Company or of an Affiliated Company, members of the Board (whether or not employed by the Company or an Affiliated Company), and Service Providers are eligible to receive Nonqualified Options,
Restricted Stock or Stock Appreciation Rights under the Plan. 
 3.3    Section 162(m)
Limitation.    On and after such time, if any, that the Company is Publicly Held, no employee of the Company or of an Affiliated Company shall be eligible to be granted Options or Stock Appreciation Rights covering more
than 1,000,000 shares of Common Stock during any calendar year; provided, however, the preceding limitation shall not apply until the earliest time required for compensation attributable to Options or Stock Appreciation Rights granted
under the Plan to be exempt from the deduction limitation of Section 162(m) of the Code. 
 ARTICLE 4. 

PLAN SHARES 

4.1    Shares Subject to the Plan.    Subject
to Section 4.2, a total of Five Million Four Hundred Forty Thousand (5,440,000) shares of Common Stock shall be available for issuance under the Plan. Of this total, Five Million Four Hundred Forty Thousand (5,440,000) shares of Common Stock
are available for issuance pursuant to Incentive Options. For purposes of this Section 4.1, in the event that (a) all or any portion of any Award granted or offered under the Plan can no longer under any circumstances
be exercised or (b) any shares of Common Stock are reacquired by the Company which were initially the subject of an Award Agreement, the shares of Common Stock allocable to the unexercised portion of such Award, or the shares so reacquired,
shall again be available for grant or issuance under the Plan. 

4.2    Changes in Capital Structure. 

  
 6 

 (a)    In the event that the outstanding shares of Common Stock are hereafter
increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company by reason of a recapitalization, stock split, reverse stock split, combination of shares, reclassification, stock
dividend, or other change in the capital structure of the Company, then appropriate adjustments shall be automatically made to the aggregate number and kind of shares subject to this Plan, the number and kind of shares and the exercise price or
purchase price per share subject to outstanding Award Agreements, and the limits on the number of shares under Sections 3.3 and 4.1 hereof, all in order to preserve, as nearly as practical, but not to increase, the benefits to
Participants. 
 (b)    In connection with the occurrence of any Equity Restructuring, and notwithstanding anything to
the contrary in this Section 4.2, the Administrator will equitably adjust each outstanding Award, which adjustments may include adjustments to the number and type of securities subject to each outstanding Award and/or the
exercise price or grant price thereof, if applicable, the grant of new Awards to Participants, and/or the making of a cash payment to Participants, as the Administrator deems appropriate to reflect such Equity Restructuring. The adjustments provided
under this Section 4.2(b) shall be nondiscretionary and shall be final and binding on the affected Participant and the Company; provided that whether an adjustment is equitable shall be determined by the Administrator. 

ARTICLE 5. 
 OPTIONS

 5.1    Option Agreement.    Each
Option granted pursuant to this Plan shall be evidenced by an Option Agreement that shall specify the number of shares subject thereto, the Exercise Price per share, and whether the Option is an Incentive Option or Nonqualified Option. As soon as is
practical following the grant of an Option, an Option Agreement shall be duly executed and delivered by or on behalf of the Company to the Optionee to whom such Option is granted. Each Option Agreement shall be in such form and contain such
additional terms and conditions, not inconsistent with the provisions of this Plan, as the Administrator shall, from time to time, deem desirable, including without limitation, the imposition of any rights of first refusal and resale obligations
upon any shares of Common Stock acquired pursuant to an Option Agreement. Each Option Agreement may be different from each other Option Agreement. 

5.2    Exercise Price.    The Exercise Price
per share of Common Stock covered by each Option shall be determined by the Administrator, provided that (a) the Exercise Price shall not be less than 100% of the Fair Market Value per share of Common Stock on the date the Option is granted,
and (b) in the case of an Incentive Option granted to a 10% Stockholder, the Exercise Price shall not be less than 110% of the Fair Market Value per share of Common Stock on the date the Incentive Option is granted. However, an Option may be
granted with an Exercise Price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Sections 409A and 424 of the Code, as
applicable. 
 5.3    Payment of Exercise
Price.    Payment of the Exercise Price shall be made upon exercise of an Option and may be made, in the discretion of the Administrator, subject to any restrictions under applicable corporate law, by: (a) cash; (b)
check; (c) surrender of shares of Common Stock acquired pursuant to the exercise of an Option, which surrendered shares shall be valued at Fair Market Value as of the date of such exercise; (d) delivery of a promissory note in a form and
with such recourse, interest, security and other provisions as the Administrator determines to be appropriate (subject to applicable corporate law); (e) cancellation of indebtedness of the Company to the Optionee; (f) waiver of compensation due
or accrued to the Optionee for services rendered; (g) provided that a public market for the Common Stock exists, a “same day sale” commitment from the Optionee and an FINRA Dealer whereby the Optionee irrevocably elects to exercise
the Option and to sell a portion of the shares so 

  
 7 

 
purchased to pay for the Exercise Price and whereby the FINRA Dealer irrevocably commits upon receipt of such shares to forward the Exercise Price directly to the Company; (h) provided that
a public market for the Common Stock exists, a “margin” commitment from the Optionee and an FINRA Dealer whereby the Optionee irrevocably elects to exercise the Option and to pledge the shares so purchased to the FINRA Dealer in a margin
account as security for a loan from the FINRA Dealer in the amount of the Exercise Price, and whereby the FINRA Dealer irrevocably commits upon receipt of such shares to forward the Exercise Price directly to the Company; (i) a “net
exercise” arrangement pursuant to which the Company will reduce the number of shares of Common Stock to be issued upon exercise by the number of shares of Common Stock having an aggregate Fair Market Value as of the date of exercise equal to
the total Exercise Price; or (j) any combination of the foregoing methods of payment or any other consideration or method of payment as shall be permitted by applicable corporate law. 

5.4    Term and Termination of Options.    The
term and provisions for termination of each Option shall be as fixed by the Administrator, but no Option may be exercisable more than ten (10) years after the date it is granted or such shorter period as specified in the Option Agreement. An
Incentive Option granted to a person who is a 10% Stockholder on the date of grant shall not be exercisable more than five (5) years after the date it is granted. 

5.5    Date of Grant.    The date of grant of
an Option will be the date on which the Administrator makes the determination to grant such Option, unless a later date is otherwise specified by the Administrator. The Option Agreement and a copy of this Plan will be delivered to the Optionee
within a reasonable time after the granting of the Option. 

5.6    Vesting and Exercise of
Options.    Each Option shall vest and become exercisable in one or more installments at such time or times and subject to such conditions, including without limitation, the achievement of specified performance goals or
objectives, as shall be determined by the Administrator. Notwithstanding the foregoing, if necessary to comply with applicable laws, each Option granted to an employee of the Company or Affiliated Company shall provide that the employee shall have
the right to exercise the vested portion of any Option held at the termination of the employee’s Continuous Service for at least thirty (30) days following termination of the employee’s Continuous Service for any reason other than
Cause (but not more than ninety (90) days) and that the employee (or employee’s designee) shall have the right to exercise the Option for at least six (6) months if such termination of employee’s Continuous Service is due to the
death or Disability of the employee. 
 5.7    Annual Limit on Incentive
Options.    To the extent required for “incentive stock option” treatment under Section 422 of the Code, if the aggregate Fair Market Value (determined as of the date of grant) of the Common Stock with
respect to which Incentive Options granted under this Plan and any other plan of the Company or any Affiliated Company becomes exercisable for the first time by an Optionee during any calendar year exceeds $100,000, such excess shall be a
Nonqualified Option. In the event that the Code or the regulations promulgated thereunder are amended after the Effective Date to provide for a different limit on the Fair Market Value of Shares permitted to be subject to “incentive stock
options” (as defined in Section 422 of the Code), then such different limit will be automatically incorporated herein and will apply to any Incentive Options granted after the effective date of such amendment. 

5.8    Nontransferability of
Options.    Except as otherwise provided by the Administrator in an Option Agreement and as permissible under applicable law, no Option shall be assignable or transferable except by will or the laws of descent and
distribution and during the life of the Optionee shall be exercisable only by such Optionee. Notwithstanding the forgoing, the Administrator may grant Nonqualified Options that may be transferred to a revocable trust or as otherwise permitted under
Rule 701 of the Securities Act. 

  
 8 

 5.9    Rights as
Stockholder.    An Optionee or permitted transferee of an Option shall have no rights or privileges as a stockholder with respect to any shares covered by an Option until such Option has been duly exercised and shares
purchased upon such exercise have been issued to such person. 
 5.10    Unvested
Shares.    The Administrator shall have the discretion to grant Options that are exercisable for unvested shares of Common Stock on such terms and conditions as the Administrator shall determine from time to time. 

5.11    Company’s Repurchase Right.    In the event of a
termination of an Optionee’s Continuous Service for any reason whatsoever (including death or Disability), the Option Agreement may provide, in the discretion of the Administrator, that the Company, or its assignee, shall have the right,
exercisable at the discretion of the Administrator, to repurchase shares of Common Stock acquired pursuant to the exercise of an Option at any time on such terms as may be provided in the Option Agreement. The repurchase price for shares repurchased
by the Company shall be as set forth in the document evidencing the Repurchase Right, subject to the following requirements: 

(a)    In the case of vested shares, the repurchase price shall be equal to the Fair Market Value per share of
Common Stock as of the date of termination of Optionee’s Continuous Service; and 

(b)    In the case of unvested shares, the repurchase price may be equal to one
of the following: (i) the Fair Market Value per share of Common Stock as of the date of termination of Optionee’s Continuous Service, (ii) the Exercise Price paid per share, or (iii) the lesser of (A) the Exercise Price paid
per share, or (B) the Fair Market Value per share of Common Stock as of the date of termination of Optionee’s Continuous Service. 

The terms upon which the Company’s Repurchase Right shall be exercisable (including but not limited to the period and procedure for
exercise and the timing and method of payment for the purchased shares) shall be established by the Administrator and set forth in the document evidencing such Repurchase Right. 

5.12    Compliance with Code
Section 409A.    Notwithstanding anything in this Article 5 to the contrary, to the extent that any Option is subject to Code Section 409A, the Option is intended to be structured to
satisfy the requirements of Code Section 409A, or an applicable exemption, as determined by the Administrator. 
 ARTICLE 6. 

RESTRICTED STOCK 

6.1    Issuance and Sale of Restricted
Stock.    The Administrator shall have the authority to grant Restricted Stock under this Plan, subject to such terms, restrictions and conditions as the Administrator may determine at the time of grant. Such conditions
may include, but are not limited to, continued employment or the achievement of specified performance goals or objectives. The Purchase Price of Restricted Stock, which may include zero dollars ($0), shall be determined by the Administrator in its
sole discretion. 
 6.2    Restricted Stock Purchase
Agreements.    A Participant shall have no rights with respect to the shares of Restricted Stock covered by a Restricted Stock Purchase Agreement until the Participant has paid the full Purchase Price to the Company in
the manner set forth in Section 6.3 hereof and has executed and delivered to the Company the Restricted Stock Purchase Agreement. Each Restricted Stock Purchase Agreement shall be in such form, and shall set forth the
Purchase Price and such other terms, 

  
 9 

 
conditions and restrictions of the Restricted Stock, not inconsistent with the provisions of this Plan, as the Administrator shall, from time to time, deem desirable. Each Restricted Stock
Purchase Agreement may be different from each other Restricted Stock Purchase Agreement. The Restricted Stock will be accepted by the Participant’s execution and delivery of the Restricted Stock Purchase Agreement and full payment for the
Shares to the Company within thirty (30) days from the date the Restricted Stock Purchase Agreement is delivered to the person. If such person does not execute and deliver the Restricted Stock Purchase Agreement along with full payment for the
Shares to the Company within such thirty (30) days, then the offer will terminate, unless otherwise determined by the Administrator. 

6.3    Payment of Purchase Price.    Subject
to any restrictions under applicable corporate law, payment of the Purchase Price may be made, in the discretion of the Administrator, by: (a) cash; (b) check; (c) surrender of shares of Common Stock owned by the Participant, which
surrendered shares shall be valued at Fair Market Value as of the date of such acceptance; (d) delivery of a promissory note in a form and with such recourse, interest, security and other provisions as the Administrator determines to be
appropriate (subject to applicable corporate law); (e) cancellation of indebtedness of the Company to the Participant; (f) the waiver of compensation due or accrued to the Participant for services rendered; or (g) any combination of the
foregoing methods of payment or any other consideration or method of payment as shall be permitted by applicable corporate law. 

6.4    Rights as a Stockholder.    Upon
complying with the provisions of Section 6.2 hereof, a Participant shall have the rights of a stockholder with respect to the Restricted Stock purchased pursuant to a Restricted Stock Purchase Agreement, including voting
and dividend rights, subject to the terms, restrictions and conditions as are set forth in such Restricted Stock Purchase Agreement. Unless the Administrator shall determine otherwise, certificates evidencing shares of Restricted Stock shall remain
in the possession of the Company until such shares have vested in accordance with the terms of the Restricted Stock Purchase Agreement. 

6.5    Transfer Restrictions.    Shares of
Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of except as specifically provided in the Restricted Stock Purchase Agreement. 

6.6    Company’s Repurchase Right.    In
the event of a termination of a Participant’s Continuous Service with the Company for any reason whatsoever (including death or Disability), the Restricted Stock Purchase Agreement may provide, in the discretion of the Administrator, that the
Company shall have the right, exercisable at the discretion of the Administrator, to repurchase shares of Common Stock acquired pursuant to a Restricted Stock Purchase Agreement, on such terms as may be provided in the Restricted Stock Purchase
Agreement. The repurchase price for shares repurchased by the Company shall be as set forth in the document evidencing the Repurchase Right, subject to the following requirements: 

(a)    In the case of vested shares, the repurchase price shall be equal to the Fair Market Value per share of
Common Stock as of the date of termination of Participant’s Continuous Service; and 

(b)    In the case of unvested shares, the repurchase price may be equal to one of the
following: (i) the Fair Market Value per share of Common Stock as of the date of termination of Participant’s Continuous Service, (ii) the original Purchase Price paid per share, if any, or (iii) the lesser of (A) the
original Purchase Price paid per share, if any, or (B) the Fair Market Value per share of Common Stock as of the date of termination of Participant’s Continuous Service. 

The terms upon which such Repurchase Right shall be exercisable (including but not limited to the period and procedure for exercise and the
timing and method of payment for the purchased shares) 

  
 10 

 
shall be established by the Administrator and set forth in the document evidencing such Repurchase Right. 

6.7    Vesting of Restricted Stock.    The
Restricted Stock Purchase Agreement shall specify the date or dates, the performance goals or objectives which must be achieved, and any other conditions on which the Restricted Stock may vest. 

6.8    Dividends.    If payment for shares of
Restricted Stock is made by promissory note, any cash dividends paid with respect to the Restricted Stock may be applied, in the discretion of the Administrator, to repayment of such note. 

6.9    Compliance with Code
Section 409A.    Notwithstanding anything in this Article 6 to the contrary, to the extent that a Restricted Stock Award is subject to Code Section 409A of the Code, the
Restricted Stock Award is intended to be structured to satisfy the requirements of Code Section 409A, or an applicable exemption, as determined by the Administrator. 

ARTICLE 7. 
 STOCK
APPRECIATION RIGHTS 
 7.1    Grant of Stock Appreciation
Rights.    The Administrator shall have the authority to grant Stock Appreciation Rights subject to such terms, restrictions and conditions as the Administrator may determine at the time of grant. Stock Appreciation
Rights may be granted on a basis that allows for the exercise of the right by the Participant, or that provides for the automatic settlement of the right upon a specified date or event, for shares of Common Stock, cash or a combination of Common
Stock and cash. 
 7.2    Stock Appreciation Rights
Agreements.    Each Stock Appreciation Right granted pursuant to this Plan shall be evidenced by a Stock Appreciation Rights Agreement, which shall specify the number of shares subject thereto, vesting provisions relating
to such Stock Appreciation Right, the Base Value per share, and whether the Stock Appreciation Right shall be exercisable or subject to settlement for shares of Common Stock, cash or a combination of Common Stock and cash. As soon as is practicable
following the grant of a Stock Appreciation Right, a Stock Appreciation Rights Agreement shall be duly executed and delivered by or on behalf of the Company to the Participant to whom such Stock Appreciation Right was granted. Each Stock
Appreciation Rights Agreement shall be in such form and contain such additional terms and conditions, not inconsistent with the provisions of this Plan, as the Administrator shall, from time to time, deem desirable, including without limitation, the
imposition of any rights of first refusal and resale obligations upon any shares of Common Stock acquired pursuant to a Stock Appreciation Right. Each Stock Appreciation Rights Agreement may be different from each other Stock Appreciation Rights
Agreement. 
 7.3    Base Value.    The Base
Value per share of Common Stock covered by each Stock Appreciation Right shall be determined by the Administrator, except that the Base Value of a Stock Appreciation Right shall not be less than 100% of Fair Market Value of the Common Stock on the
date the Stock Appreciation Right is granted. 
 7.4    Term and
Termination of Stock Appreciation Rights.    The term and provisions for termination of each Stock Appreciation Right shall be fixed by the Administrator, but no Stock Appreciation Right may be exercisable or subject to
settlement more than ten (10) years after the date it is granted or such shorter period as specified in the Award Agreement. 

7.5    Vesting and Exercise of Stock Appreciation
Rights.    Each Stock Appreciation Right 

  
 11 

 
shall vest, and become exercisable or subject to settlement, in one or more installments at such time or times and shall be subject to such conditions, including without limitation the
achievement of specified performance goals or objectives established with respect to one or more performance criteria, as shall be determined by the Administrator. Notwithstanding the foregoing, if necessary to comply with applicable laws, each
Stock Appreciation Right granted to an employee of the Company or Affiliated Company, on a basis that allows the right to be exercised by the employee, shall provide that the employee shall have the right to exercise the vested portion of such right
held at the termination of the employee’s Continuous Service for at least thirty (30) days following termination of the employee’s Continuous Service for any reason other than Cause and that the employee (or employee’s designee)
shall have the right to exercise the Stock Appreciation Right for at least six (6) months if such termination of the employee’s Continuous Service is due to the death or Disability of the employee. 

7.6    Payment of Appreciation.    A Stock
Appreciation Right will entitle the holder, upon exercise or settlement of the Stock Appreciation Right, as applicable, to receive an amount determined by multiplying: (a) the excess of the Fair Market Value of a share of Common Stock on the
date of exercise or settlement of the Stock Appreciation Right over the Base Value of such Stock Appreciation Right, by (b) the number of shares as to which such Stock Appreciation Right is exercised or settled. Upon exercise or settlement,
payment of the appreciation determined under the preceding formula shall be made in shares of Common Stock, cash, or a combination of both shares and cash, as set forth in the Stock Appreciation Rights Agreement in the discretion of the
Administrator. To the extent that payment is made in shares of Common Stock, such shares shall be valued at their Fair Market Value on the date of exercise or settlement. 

7.7    Nontransferability of Stock Appreciation
Rights.    Except as otherwise provided by the Administrator in an Stock Appreciation Rights Agreement and as permissible under applicable law, no Stock Appreciation Right shall be assignable or transferable except by
will, the laws of descent and distribution or pursuant to a domestic relations order, and during the life of the Participant shall be exercisable only by such Participant. Notwithstanding the forgoing, the Administrator may grant Stock Appreciation
Rights that may be transferred to a revocable trust or as otherwise permitted under Rule 701 of the Securities Act. 

7.8    Rights as a Stockholder.    A
Participant shall have no rights or privileges as a stockholder with respect to any shares covered by a Stock Appreciation Right until such Stock Appreciation Right has been duly exercised or settled and certificates representing shares issued upon
such exercise or settlement have been issued to such person. 

7.9    Unvested Shares.    The Administrator
shall have the discretion to grant Stock Appreciation Rights that may be exercised or settled for unvested shares of Common Stock on such terms and conditions as the Administrator shall determine from time to time. 

7.10    Company’s Repurchase Right.    In the event of a
termination of a Participant’s Continuous Service for any reason whatsoever (including death or Disability), the Stock Appreciation Rights Agreement may provide, in the discretion of the Administrator, that the Company, or its assignee, shall
have the right, exercisable at the discretion of the Administrator, to repurchase shares of Common Stock acquired pursuant to the exercise or settlement of a Stock Appreciation Right at any time on such terms as may be provided in the Stock
Appreciation Right Agreement. The repurchase price for shares repurchased by the Company shall be equal to the Fair Market Value per share of Common Stock as of the date of termination of Participant’s Continuous Service. The terms upon which
such Repurchase Right shall be exercisable (including but not limited to the period and procedure for exercise and the timing and method of payment for the purchased shares) shall be established by the Administrator and set forth in the document
evidencing such Repurchase Right. 

  
 12 

 7.11    Compliance with Code
Section 409A.    Notwithstanding anything in this Article 7 to the contrary, all Stock Appreciation Rights Awards are intended to be structured to satisfy the requirements of Code
Section 409A, or an applicable exemption, as determined by the Administrator. 
 ARTICLE 8. 

ADMINISTRATION OF THE PLAN 

8.1    Administrator.    Authority to control
and manage the operation and administration of the Plan shall be vested in the Board, which may delegate such responsibilities in whole or in part to a committee consisting of two (2) or more members of the Board. Members of the Committee may
be appointed from time to time by, and shall serve at the pleasure of, the Board. When and if the Company becomes Publicly Held, the Board may limit the composition of the Committee to those persons necessary to comply with the requirements of
Section 162(m) of the Code and Section 16 of the Exchange Act. 

8.2    Delegation to an Officer.    To the
extent authorized by applicable law, the Board may delegate to one or more officers of the Company the authority to do one or both of the following: (a) designate officers and employees of the Company or any of its subsidiary corporations to be
recipients of Options or Stock Appreciation Rights and (b) determine the number of shares of Common Stock to be subject to such Options or Stock Appreciation Rights granted to such officers and employees of the Company; provided, however, that
the resolutions of the Board regarding such delegation shall specify the total number of shares of Common Stock that may be subject to the Options or Stock Appreciation Rights granted by such officer and that such officer may not grant an Option or
Stock Appreciation Right to himself or herself. Notwithstanding the foregoing, the Board may not delegate authority to an officer to determine the Fair Market Value of the Common Stock. 

8.3    Powers of the Administrator.    In
addition to any other powers or authority conferred upon the Administrator elsewhere in the Plan or by law, the Administrator shall have full power and authority: (a) to determine the persons to whom, and the time or times at which Awards shall
be granted, the number of shares of Common Stock to be represented by each Option or Stock Appreciation Rights Agreement and the number of shares of Common Stock to be subject to each Restricted Stock Purchase Agreement, and the consideration to be
received by the Company upon the exercise of such Options or Stock Appreciation Right or sale of Restricted Stock; (b) to interpret the Plan; (c) to create, amend or rescind rules and regulations relating to the Plan; (d) to determine
the terms, conditions and restrictions contained in, and the form of, Award Agreements; (e) to determine the identity or capacity of any persons who may be entitled to exercise a Participant’s rights under any Award Agreement under the
Plan; (f) to correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any Award Agreement; (g) to accelerate the vesting of any Award or release or waive any Repurchase Rights of the Company with respect
to any Award; (h) to extend the exercise date of any Option or Stock Appreciation Right (but not beyond the original expiration date); (i) to provide for rights of first refusal and/or Repurchase Rights; (j) to amend outstanding Award
Agreements to provide for, among other things, any change or modification which the Administrator could have included in the original Award Agreement or in furtherance of the powers provided for herein; (k) to make all other determinations
necessary or advisable for the administration of the Plan, but only to the extent not contrary to the express provisions of the Plan; and (l) grant Awards to Key Team Members who are foreign nationals on such terms and conditions different from
those specified in the Plan as is necessary or desirable to promote achievement of the purposes of the Plan, and adopt such modifications, procedures, and/or subplans and the like as may be necessary or desirable to comply with the provisions of the
laws or regulations of other countries or jurisdictions to ensure the viability of the benefits from Awards granted to such Key Team Members employed in such countries or jurisdictions, or to meet the requirements that permit the Plan to operate in

  
 13 

 
a qualified or tax efficient manner, and/or comply with applicable foreign laws or regulations. Any action, decision, interpretation or determination made in good faith by the Administrator in
the exercise of its authority conferred upon it under the Plan shall be final and binding on the Company and all Participants. The Administrator’s decisions and determinations need not be uniform and may be made selectively among Participants
in the Committee’s sole discretion. 

8.4    Section 409A of the
Code.    Notwithstanding anything in this Plan to the contrary, to the extent that Awards are subject to Section 409A of the Code, (a) any adjustments made pursuant to this Article 8 to Awards that are
considered “deferred compensation” within the meaning of Section 409A of the Code shall be made in compliance with the requirements of Section 409A of the Code; (b) any adjustments made pursuant to Article 8 to Awards that
are not considered “deferred compensation” subject to Section 409A of the Code shall be made in such a manner as to ensure that after such adjustment the Awards either (i) continue not to be subject to Section 409A of the
Code or (ii) comply with the requirements of Section 409A of the Code; and (c) in any event, the Administrator shall not have the authority to make any adjustments pursuant to Article 8 to the extent the existence of such authority
would cause an Award that is not intended to be subject to Section 409A of the Code at the time of grant to be subject thereto. 

8.5    Limitation on Liability.    No employee
of the Company or member of the Board or Committee shall be subject to any liability with respect to duties under the Plan unless the person acts fraudulently or in bad faith. To the extent permitted by law, the Company shall indemnify each member
of the Board or Committee, and any employee of the Company with duties under the Plan, who was or is a party, or is threatened to be made a party, to any threatened, pending or completed proceeding, whether civil, criminal, administrative or
investigative, by reason of such person’s conduct in the performance of duties under the Plan. 
 ARTICLE 9. 

CHANGE IN CONTROL 

9.1    Change in Control. 

(a)    The Administrator, in connection with a Change in Control transaction, either by the terms of the Award or by
action taken prior to the occurrence of such Change in Control and either automatically or upon the Participant’s request, is hereby authorized to take any one or more of the following actions whenever the Administrator determines, in its sole
discretion, that such action is appropriate in order to facilitate such Change in Control:  

(i)    To provide for the cancellation of any such Award in exchange for either an amount of cash or other
property with a value equal to the amount that could have been obtained upon the exercise or settlement of such Award or realization of the Participant’s rights had such Award been currently exercisable, payable and fully vested, as applicable;
provided that, if the amount that could have been obtained upon the exercise or settlement of such Award or realization of the Participant’s rights, in any case, is equal to or less than zero, then such Award may be terminated without payment;

 (ii)    To provide that such Award shall vest and, to the extent applicable, be exercisable as to all
shares covered thereby, notwithstanding anything to the contrary in the Plan or the provisions of such Award; 

(iii)    To provide that such Award be assumed by the successor or survivor corporation, or a parent or
subsidiary thereof, or shall be substituted for by awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as 

  
 14 

 
to the number and kind of shares and applicable exercise or purchase price, in all cases, as determined by the Administrator; 

(iv)    To make adjustments in the number and type of shares of Common Stock (or other securities or
property) subject to outstanding Awards, and/or in the terms and conditions of (including the grant or exercise price), and the criteria included in, outstanding Awards which may be granted in the future; 

(v)    To replace such Award with other rights or property selected by the Administrator; and/or 

(vi)    To provide that the Award will terminate and cannot vest, be exercised or become payable after the
Change in Control. 
 (b)    Notwithstanding Section 9.1(a) above, vesting of all outstanding
Options and Stock Appreciation Rights shall accelerate automatically effective as of immediately prior to the consummation of the Change in Control unless the Options and Stock Appreciation Rights are to be assumed by the acquiring or successor
entity (or parent or subsidiary thereof) or new options or new stock appreciation rights under a new stock incentive program (“New Incentives”) of comparable value are to be issued in exchange therefor, as provided in subsection
(c) below. 
 (c)    Vesting of outstanding Options and Stock Appreciation
Rights shall not accelerate if and to the extent that: (i) the Options and Stock Appreciation Rights (including the unvested portions thereof) are to be assumed by the acquiring or successor entity (or parent or subsidiary thereof) pursuant to
the terms of the Change in Control transaction, or (ii) the Options and Stock Appreciation Rights (including the unvested portions thereof) are to be replaced by the acquiring or successor entity (or parent or subsidiary thereof) with New
Incentives of comparable value containing such terms and provisions as the Administrator in its discretion may consider equitable. If outstanding Options or Stock Appreciation Rights are assumed, or if New Incentives of comparable value are issued
in exchange therefor, then each such Option, Stock Appreciation Right or New Incentive shall be appropriately adjusted, concurrently with the Change in Control, to apply to the number and class of securities or other property that the Participant,
as the case may be, would have received pursuant to the Change in Control transaction in exchange for the shares issuable upon exercise of the Option or Stock Appreciation Right had the Option or Stock Appreciation Right been exercised immediately
prior to the Change in Control, and appropriate adjustment also shall be made to the Exercise Price such that the aggregate Exercise Price of each such Option or new option and the aggregate Base Value of each such Stock Appreciation Right or new
stock appreciation right shall remain the same as nearly as practicable. 
 (d)    If
any Option or Stock Appreciation Right is assumed by an acquiring or successor entity (or parent or subsidiary thereof) or a New Incentive of comparable value is issued in exchange therefor pursuant to the terms of a Change in Control transaction,
then if so provided in the Option Agreement or Stock Appreciation Rights Agreement, the vesting of the Option, Stock Appreciation Right, or the New Incentive shall accelerate if and at such time as the Participant’s service as an employee,
director, officer, Consultant or other Service Provider to the acquiring or successor entity (or a parent or subsidiary thereof) is terminated involuntarily or voluntarily under certain circumstances within a specified period following consummation
of the Change in Control, pursuant to such terms and conditions as shall be set forth in the Option Agreement or Stock Appreciation Rights Agreement. 

(e)    Outstanding Options and Stock Appreciation Rights shall terminate and cease to be exercisable upon consummation of
a Change in Control except to the extent that the Options and Stock Appreciation Rights are assumed by the successor entity (or parent or subsidiary thereof) pursuant to the terms of the Change in Control transaction. 

  
 15 

 (f)    If outstanding Options or Stock
Appreciation Rights will not be assumed by the acquiring or successor entity (or parent or subsidiary thereof), or such Awards are not purchased or exchanged for New Incentives, the Administrator shall cause written notice of a proposed Change in
Control transaction to be given to Participants holding such Awards not less than five (5) days prior to the anticipated effective date of the proposed transaction. 

(g)    Notwithstanding Section 9.1(a) above, all Repurchase Rights of the Company under this
Plan shall automatically terminate immediately prior to the consummation of such Change in Control, and the shares of Common Stock subject to such terminated Repurchase Rights shall immediately vest in full, except to the extent that: (a) in
connection with such Change in Control, the acquiring or successor entity (or parent or subsidiary thereof) provides for the continuance or assumption of the Restricted Stock Purchase Agreements (or such other agreements evidencing the
Company’s Repurchase Right, as applicable) or the substitution of new agreements of comparable value covering shares of a successor corporation, with appropriate adjustments as to the number and kind of shares and purchase price, or
(b) such accelerated vesting is precluded by other limitations imposed by the Administrator in the Restricted Stock Purchase Agreement (or such other agreement evidencing the Company’s Repurchase Right, as applicable) at the time the
shares are issued. 
 (h)    The Administrator in its discretion may provide in any
Restricted Stock Purchase Agreement (or such other agreement evidencing the Company’s Repurchase Right, as applicable) that if, upon a Change in Control, the acquiring or successor entity (or parent or subsidiary thereof) provides for the
continuance or assumption of such Restricted Stock Purchase Agreement (or such other agreement evidencing the Company’s Repurchase Right, as applicable) or the substitution of new agreements of comparable value covering shares of a successor
corporation (with appropriate adjustments as to the number and kind of shares and purchase price), then any Repurchase Right provided for in such Restricted Stock Purchase Agreement (or such other agreement evidencing the Company’s Repurchase
Right, as applicable) shall terminate, and the shares of Common Stock subject to the terminated Repurchase Right or any substituted shares shall immediately vest in full, if the Participant’s service as an employee, director, officer,
Consultant or other Service Provider to the acquiring or successor entity (or a parent or subsidiary thereof) is terminated involuntarily or voluntarily under certain circumstances within a specified period following consummation of a Change in
Control pursuant to such terms and conditions as shall be set forth in the Restricted Stock Purchase Agreement (or such other agreement evidencing the Company’s Repurchase Right, as applicable). 

ARTICLE 10. 
 AMENDMENT
AND TERMINATION OF THE PLAN 
 10.1    Amendments.    The
Board may from time to time alter, amend, suspend or terminate the Plan in such respects as the Board may deem advisable. No such alteration, amendment, suspension or termination shall be made which shall (i) substantially affect or impair the
rights of any Participant under an outstanding Award Agreement without such Participant’s consent, or (ii) cause this Plan, or any Award granted pursuant to it, to violate Code Section 409A. The Board may alter or amend the Plan to
comply with requirements under the Code relating to Incentive Options or other types of options that give Optionees more favorable tax treatment than that applicable to Options granted under this Plan as of the date of its adoption. Upon any such
alteration or amendment, any outstanding Award granted hereunder may, if the Administrator so determines and if permitted by applicable law, be subject to the more favorable tax treatment afforded to a Participant pursuant to such terms and
conditions. 
 10.2    Plan Termination.    Unless the Plan shall
theretofore have been terminated, the Plan 

  
 16 

 
shall terminate on the tenth (10th) anniversary of the Effective Date and no Awards may be granted under the Plan thereafter, but Award Agreements then outstanding shall continue in effect in
accordance with their respective terms. 
 ARTICLE 11. 

TAXES 

11.1    Tax Withholding.    The Company shall have the power to
withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy any applicable Federal, state, and local tax withholding requirements with respect to any Options or Stock Appreciation Rights exercised or shares of
Restricted Stock issued under this Plan. To the extent permissible under applicable tax, securities and other laws, the Administrator may, in its sole discretion and upon such terms and conditions as it may deem appropriate, permit a Participant to
satisfy his or her obligation to pay any such tax, in whole or in part, by (a) directing the Company to apply shares of Common Stock to which the Participant is entitled as a result of the exercise of an Option or Stock Appreciation Right or as
a result of the purchase of or lapse of restrictions on shares of Restricted Stock or (b) delivering to the Company shares of Common Stock owned by the Participant; provided, however, the amount withheld shall not exceed the amount necessary to
satisfy the Company’s tax withholding obligations at the minimum statutory withholding rates, as applicable. The shares of Common Stock so applied or delivered in satisfaction of the Participant’s tax withholding obligation shall be valued
at their Fair Market Value as of the date of measurement of the amount of income subject to withholding. 
 ARTICLE 12. 

MISCELLANEOUS 

12.1    Benefits Not Alienable.    Other than as provided above,
benefits under the Plan may not be assigned or alienated, whether voluntarily or involuntarily. Any unauthorized attempt at assignment, transfer, pledge or other disposition shall be without effect. 

12.2    No Enlargement of Employee Rights.    This Plan is strictly
a voluntary undertaking on the part of the Company and shall not be deemed to constitute a contract between the Company and any Participant to be consideration for, or an inducement to, or a condition of, the employment of any Participant. Nothing
contained in the Plan shall be deemed to give the right to any Participant to be retained as an employee of the Company or any Affiliated Company or to limit the right of the Company or any Affiliated Company to discharge any Participant at any
time. 
 12.3    Application of Funds.    The proceeds received
by the Company from the sale of Common Stock pursuant to Option Agreements and Restricted Stock Purchase Agreements, except as otherwise provided herein, will be used for general corporate purposes. 

12.4    Financial Reports.    To the extent required by Rule 701(e)
of the Securities Act, the Company shall provide, at least annually, summary financial information relating to the Company’s financial condition and results of operations to each Participant who holds one or more Awards or shares of Common
Stock issued pursuant to the Plan. 
 12.5    Adoption and Stockholder
Approval.    This amended and restated Plan will become effective on the Effective Date and will be approved by the stockholders of the Company (excluding Shares issued pursuant to this Plan), consistent with applicable
laws, within twelve (12) months before or after the Effective Date. Upon the Effective Date, the Administrator may grant Awards pursuant to this Plan; provided, however, that: (a) no Option or Stock Appreciation Right may be exercised
prior to 

  
 17 

 
initial stockholder approval of this Plan; (b) no Option or Stock Appreciation Right granted pursuant to an increase in the number of Shares approved by the Administrator shall be exercised
prior to the time such increase has been approved by the stockholders of the Company; (c) in the event that initial stockholder approval is not obtained within the time period provided herein, all Awards shall be canceled, any Shares issued
pursuant to any such Award shall be canceled and any purchase of such Shares issued hereunder shall be rescinded; and (d) Awards granted pursuant to an increase in the number of Shares approved by the Administrator which increase is not
approved by stockholders within the time then required, any Shares issued pursuant to any such Awards shall be canceled, and any purchase of Shares subject to any such Award shall be rescinded. 

12.6    Electronic Delivery.    Any reference herein to a
“written” agreement or document shall include any agreement or document delivered electronically or posted on the Company’s intranet. 

  
 18 

 2015 PLAN AMENDMENT 

THIS AMENDMENT NO. 1 TO THE CRINETICS PHARMACEUTICALS, INC. 2015 STOCK INCENTIVE PLAN, as amended, (this “Amendment”),
dated as of February 9, 2018, is made and adopted by Crinetics Pharmaceuticals, Inc., a Delaware corporation (the “Company”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to
them in the Plan (as defined below). 
 RECITALS 

WHEREAS, the Company has adopted the Crinetics Pharmaceuticals, Inc. 2015 Stock Incentive Plan (the “Plan”); 

WHEREAS, the Company desires to amend the Plan as set forth below; 

WHEREAS, pursuant to Section 10.1 of the Plan, the Plan may be amended by the Board of Directors of the Company; and 

WHEREAS, the Board of Directors of the Company has approved this Amendment pursuant to resolutions adopted on February 8, 2018. 

NOW, THEREFORE, in consideration of the foregoing, the Company hereby amends the Plan as follows: 

1.     Section 4.1 of the Plan is hereby amended to read as follows: 

“4.1    Shares Subject to the
Plan.    Subject to Section 4.2, a total of Seven Million Nine Hundred Forty Thousand (7,940,000) shares of Common Stock shall be available for issuance under the Plan. Of this total, Seven Million Nine Hundred Forty
Thousand (7,940,000) shares of Common Stock are available for issuance pursuant to Incentive Options. For purposes of this Section 4.1, in the event that (a) all or any portion of any Award granted or offered under the
Plan can no longer under any circumstances be exercised or (b) any shares of Common Stock are reacquired by the Company which were initially the subject of an Award Agreement, the shares of Common Stock allocable to the unexercised portion of
such Award, or the shares so reacquired, shall again be available for grant or issuance under the Plan.” 

2.    This Amendment shall be and is hereby incorporated in and forms a part of the Plan. All other terms and provisions
of the Plan shall remain unchanged except as specifically modified herein. The Plan, as amended by this Amendment, is hereby ratified and confirmed. 

 I hereby certify that the foregoing Amendment was duly adopted by the Board of Directors of
Crinetics Pharmaceuticals, Inc. on February 8, 2018. 
  

			
	By:	 	 /s/ Marc Wilson

	Name:	 	Marc Wilson
	Title:	 	Secretary

 Signature Page to 2015 Stock Incentive Plan Amendment 

 AMENDMENT NO. 2 TO THE 

CRINETICS PHARMACEUTICALS, INC. 2015 STOCK INCENTIVE PLAN 

THIS AMENDMENT NO. 2 TO THE CRINETICS PHARMACEUTICALS, INC. 2015 STOCK INCENTIVE PLAN, as amended (this “Amendment”),
dated as of May 25, 2018, is made and adopted by Crinetics Pharmaceuticals, Inc., a Delaware corporation (the “Company”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them
in the Plan (as defined below). 
 RECITALS 

WHEREAS, the Company has adopted the Crinetics Pharmaceuticals, Inc. 2015 Stock Incentive Plan (the “Plan”); 

WHEREAS, the Company desires to amend the Plan as set forth below; 

WHEREAS, pursuant to Section 10.1 of the Plan, the Plan may be amended by the Board of Directors of the Company; and 

WHEREAS, the Board of Directors of the Company has approved this Amendment pursuant to resolutions adopted on May 25, 2018. 

NOW, THEREFORE, in consideration of the foregoing, the Company hereby amends the Plan as follows: 

1.    Section 4.1 of the Plan is hereby amended to read as follows: 

“4. 1    Shares Subject to the Plan.    Subject to
Section 4.2, a total of Ten Million Three Hundred Forty Thousand (10,340,000) shares of Common Stock shall be available for issuance under the Plan. Of this total, Ten Million Three Hundred Forty Thousand (10,340,000) shares are available for
issuance pursuant to Incentive Options. For purposes of this Section 4.1, in the event that (a) all or any portion of any Award granted or offered under the Plan can no longer under any circumstances be exercised or
(b) any shares of Common Stock are reacquired by the Company which were initially the subject of an Award Agreement, the shares of Common Stock allocable to the unexercised portion of such Award, or the shares so reacquired, shall again be
available for grant or issuance under the Plan.” 
 2.    This Amendment shall be and is hereby incorporated in and
forms a part of the Plan. All other terms and provisions of the Plan shall remain unchanged except as specifically modified herein. The Plan, as amended by this Amendment, is hereby ratified and confirmed. 

 I hereby certify that the foregoing Amendment was duly adopted by the Board of Directors of
Crinetics Pharmaceuticals, Inc. on May 25, 2018. 
  

			
	By:	 	 /s/ Marc Wilson

	Name:	 	Marc Wilson
	Title:	 	Secretary

 Signature Page to 2015 Stock Incentive Plan Amendment

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