Document:

EX-10.3

 Exhibit 10.3 

Free translation for information purposes only 

2002 BELGIAN WARRANT PLAN 

1. RATIONALE AND PURPOSE 

The general shareholders’ meeting of “GALAPAGOS GENOMICS NV” (the “Company”) has, by decision dated
February 22, 2002, approved the 2002 Belgian Warrant Plan. 
 The purpose of this Plan is to allow the Company to inform the
Beneficiaries (see 2 “Definitions – Beneficiaries” and 4 “Beneficiaries of the Plan”) under which conditions it intends to issue Warrants. By doing so, the Company wishes to express its gratitude for the
efforts of the Beneficiaries in helping to make the Company a successful enterprise. 
 2. DEFINITIONS

 In this Plan, the following terms shall have the following meaning: 

- Offer: the notice to the Beneficiaries of the Plan of the possibility to acquire Warrants; 

- Offer Letter: the letter specifying the Offer; 

- Acceptance Letter: the form the Beneficiary receives at the time of the Offer and which the Beneficiary should return, duly executed,
to the address mentioned in the Offer Letter, specifying whether or not the Beneficiary accepts the offer; 
 - Shares: all the
Shares in the Company; 
 - Beneficiary: in principle, all employees and directors of the Subsidiaries of the Company. The
possibility to acquire Warrants can also be allowed by the Board of Directors on an additional and individual basis, to other persons that have rendered meritorious services to the Company or its Subsidiaries in the framework of their professional
activities; 
 - Certificates: the Certificates issued by the Foundation in return for Shares that are certified with the Foundation;

 - Control: the power, in fact or by laws, to exercise a decisive influence with respect to the appointment of the directors or
with respect to the activities of the Company, as set forth in article 5 and following the Company Code; 
 - Subsidiary: a company
vis-à-vis which Control exists, as set forth in article 6 of the Company Code; 
 - Class D Shares: the shares to be issued
upon the exercise of the Warrants under this Plan; 
 - Plan: this 2002 Belgian Warrant Plan; 

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 - Board of Directors: the board of directors of the Company; 

- Successor(s): the successors or heirs of a deceased person; 

- Foundation: the Administrative Office (“STAK”) “Galapagos Genomics”, having its registered office at
Leiden; 
 - Grant: the moment of acceptance of an offered Warrant by the Beneficiary, or the moment on which the Beneficiary is
deemed to have accepted the offered Warrants. The Grant is, for tax purposes, deemed to occur 60 days following the date of the Offer. No grant shall be deemed to occur if the Beneficiary expressly waives its right to acquire the Warrants within 60
days as of the date of the Offer; 
 - Exercise: the exercise of the right, acquired by accepting the Offer, to convert the Warrants
into Class D Shares at the Exercise Price; 
 - Exercise Price: the upfront determined price at which a Share may be acquired at the
occasion of the Exercise of a Warrant, during the Exercise Periods and within the Exercise Term; 
 - Exercise Term: the term within
which a Beneficiary is entitled to exercise its Warrants in order to acquire Shares of the Company, subject to compliance with the specific Exercise Periods and the specific modalities set forth in chapter 6 of this Plan; 

- Exercise Period: the period within which a Warrant can effectively be Exercised; 

- Company: the limited liability company “Galapagos Genomics”, having the registered office at Generaal Dewittelaan L11 A3,
2800 Mechelen; 
 - Warrant: the right to acquire/subscribe to one Class D Share, within the Exercise Term and the Exercise Price;

 - Warrantholder: any Beneficiary to whom Warrants have been granted but who has not yet Exercised all of them; 

3. WARRANTS 

* General 
 3,013,000
Warrants are created in the framework of this Plan. These Warrants shall be called “2002 Warrants”. 
 The Warrants are issued by
the Company to the Beneficiary for free. 
 Each Warrant entitles the Beneficiary thereof to acquire / subscribe to one Class D Share in
accordance with the terms and conditions of this Plan. 

  
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 As from the date of creation of the Warrants by the general shareholders’ meeting of the
Company, the Board of Directors may, during a 5 year period, offer Warrants to the Beneficiaries. The Board of Directors may delegate its authorities under this 2002 Warrant Plan to a “Remuneration Committee”. 

* Number of Warrants per Beneficiary 

The number of Warrants to be offered to the Beneficiaries shall be determined by the Board of Directors and, with respect to the directors of
the Company, by the shareholders’ meeting or the Board of Directors. 
 * Transfer restrictions 

The Warrants are registered securities and cannot be transferred “inter vivos” once they are granted to a Beneficiary. 

The Warrants can not be pledged nor encumbered in the any other way. 

Warrants transferred, pledged or encumbered in violation of the above become automatically void. 

* Exercise Price 
 The
Board of Directors shall determine the Exercise Price per Warrant at the time the Warrants are offered to a Beneficiary. 
 If the Shares of
the Company are not traded or listed on a stock exchange at the time of the Offer, the Exercise Price shall at least be equal to the actual value of the Class D Shares, as determined by the Board of Directors of the Company and as certified by the
auditor of the Company or by an accountant appointed for this purpose by the Board of Directors, should there be no auditor. In addition, the Exercise Price needs in this case (i) at least to be equal to accounting value of the existing Shares
as demonstrated from the last annual accounts of the Company as approved by the competent body prior to the date of the Offer and (ii) at least to be equal to 1 Euro. 

If the Shares of the Company are traded or listed on a stock exchange at the date of the Offer, the Exercise Price needs, at the Option of the
Board of Directors, at least to be equal to (a) the price per share at close of business on the day immediately preceding the day of the Offer or (b) the average trading price of the shares on the stock exchange during a period of 30 days
(or any other relevant period) immediately preceding the day of the Offer. 
 Upon Exercise, an amount of the Exercise Price equal to the
fractional value of the existing Shares needs to be booked as capital. The amount of the Exercise Price exceeding the fractional value shall be booked as an issuance premium on an unavailable account which shall serve as a guarantee for third
parties in the same manner as the capital, and which can only be reduced or booked away by a decision of the general shareholders’ meeting to that effect in accordance with the rules applicable to a reduction of capital. 

  
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 In derogation of article 501 of the Company Code, the Company expressly preserves the right
to take any decision and to carry out any transaction which might have an impact on its capital, on the distribution of profits or the distribution of liquidation dividends or that may otherwise affect the rights of the Warrantholders, unless the
only purpose of these decisions and transactions would be to reduce such advantages. Should the rights of a Warrantholder be affected or influenced by such a decision or transaction, the Warrantholder shall not be entitled to a modification of the
Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Board of Directors may, however, in its sole discretion, modify (i) the number of shares in respect of which any Warrant may
be exercised or (ii) the Exercise Price. As soon as reasonably practicable, notice in writing of such amendments shall be given by the Board of Directors to any Warrantholder affected thereby. 

In case of merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants
shall be adjusted in accordance with the applicable conversion ration at the occasion of the merger, demerger or stock-split to the other shareholders. 

4. BENEFICIARIES 

The Beneficiaries are the persons as described in section 2 (“Definitions – Beneficiaries”). 

Employees whose employment contract with the Company or with a Subsidiary is temporarily suspended due to a mission in another country
(“expatriates”) may also qualify as a Beneficiary. 
 The Board of Directors may, in its sole discretion, include or
exclude other persons as a Beneficiary. 
 5. ACCEPTANCE OR REFUSAL OF
THE OFFER 
 The Beneficiaries may accept or refuse any individual Offer. 

An Offer is deemed to be refused when the corresponding paragraph in the Acceptance Letter is checked. 

Each Beneficiary shall receive an Acceptance Letter wherein the Beneficiary mentions its decision regarding the Offer: Acceptance or Refusal.

 The Acceptance Letter needs to be returned to the address mentioned therein, duly completed and signed, prior to the date mentioned
therein. 

  
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 In case of Acceptance, the Beneficiary will be recorded in the Warrantholders’ Register.
This register is safeguarded at the registered office of the Company, mentioning the name of the Warrantholder and the number of Warrants owned by him/her. The Beneficiary will receive a confirmation of the number of Warrants accepted by him/her.

 In case of Refusal, the Beneficiary will receive a confirmation that no Warrants were accepted. 

The Company shall contact the Beneficiary if, 40 days following the Offer, the Beneficiary has not yet notified its Acceptance or Refusal.

 6. EXERCISE AND PAYMENT MODALITIES 

* Exercise Term 
 The
Exercise Term is 8 years as from the date of the Offer, it being understood that the Warrants can no longer be exercised after February 1, 2012. 

* Exercise Period – General Rule 

Warrants cannot be exercised prior to the third calendar year following the year in which the Offer took place. 

Between the 4th calendar year after the year in which the Offer took place and the 4th anniversary date of the Offer, maximum 60% of the granted Warrants is exerciseable. 
 As
of the 4th anniversary date of the Offer the Warrants are fully exerciseable at any time. 

* Exercise Period - Exceptions 

In case of substantial change of control, i.e. in case of acquisition, take-over, merger, etc., of the company by or with another company, the
Board of Directors may decide to shorten the Exercise Term. The Beneficiary will be timely informed by the Company of such a decision and will be entitled to immediately and fully exercise its Warrants that are exerciseable at that time. Any adverse
tax consequences shall be borne by the Warrantholder. 
 In case of IPO, the exerciseability may be suspended for a period of 6 months as
from the first trading day. 
 * Exercise Modalities 

Separate Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrantholder shall submit a notice (the exercise form) to the Board of Directors or to a body appointed
by it, together with the Exercise Price, to be deposited into a bank account opened in the name of the Company. 

  
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 The Warrantholder needs to mention the number of Warrants it desires to exercise on the
exercise form. 
 In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be
deemed not to be exercised. The Company will inform the Warrantholder thereof and will reimburse the amount that was deposited too late or was insufficient within a week. The Warrants will consequently not be lost and remain exerciseable at a later
stage. 
 * Exercise of the Warrants in accordance with the law 

In case a Warrant, that is not exerciseable or cannot be exercised in accordance with the exercise modalities (as specified in the Plan),
becomes prematurely exerciseable pursuant to article 501 of the Company Code and is also exercised pursuant to this article, the Shares issued upon exercise of the Warrants will be untransferable, except with the explicit prior consent of the
Company, until such time the Warrant would have become exerciseable pursuant to this Plan. 
 7. ISSUANCE
AND POSSIBLE CERTIFICATION OF THE CLASS D SHARES 

* Issuance of new Class D Shares 

The Company shall only be obliged to issued Class D Shares upon exercise of the Warrants unless all Exercise Modalities set forth in section 6
have been complied with. 
 As soon as these modalities are complied with, Class D Shares will be issued, with due consideration of the
necessary administrative formalities. The Board of Directors shall in this connection timely – and at lease once every quarter – determine, before a notary public, that the capital is increased. 

The Class D Shares issued at the occasion of the Exercise of the Warrants shall have the same dividend rights as the existing not-preferred
(common) shares. 
 * Certification of the new Class D Shares 

The Company has the right, at its sole discretion, to certify the Class D Shares, issued upon exercise of the Warrants, with the Foundation in
the name and on behalf of the Beneficiary. The certificates created in this connection shall be registered in the Register of Owners of Certificates of the Foundation in the name of the Beneficiary - Owner of Certificate. 

The Class D Shares will be registered Shares, as a consequence of which the Certificates issued after certification with the Foundation shall
also be registered certificates. 

  
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 The Board of Directors may, in its sole discretion, decide not to comply with the above
(under 7 “Issuance and possible certification of Class D Shares”) for the benefit of the Beneficiary. 
 * Sale of Class
D Shares and/or Certificates 
 If the Beneficiary requests the Company to sell the Shares or Certificates representing these Shares
immediately following the issuance thereof and the Company succeeds therein, the Beneficiary shall receive the sale proceeds on its bank account as mentioned on the exercise form. 

8. TERMINATION OF THE EMPLOYMENT OR SERVICE
RELATIONSHIP 
 * End of employment or service relationship 

In case the employment or service relationship with the Beneficiary is terminated after the end of the 3rd calendar year following the date of the Offer, the Beneficiary must exercise its not yet Exercised Warrants within a 3-month period as from the date of the termination. If the employment or service
relationship terminates prior to the end of the 3rd calendar year following the year in which the Offer of the Warrants took place, the Warrants shall become partially void as follows: 

 

	 	•	 	90% if terminated prior to the 1st anniversary of the Offer; 

  

	 	•	 	80% if terminated prior to the 2nd anniversary of the Offer; 

  

	 	•	 	60% if terminated prior to the 3rd anniversary of the Offer; 

  

	 	•	 	40% if terminated following the 3rd anniversary of the Offer but prior to the end of the third calendar year. 

The Warrants that do not become automatically void in accordance with the above, shall be exerciseable for a 3 month period as from the first
day of the 4th calendar year following the year in which the Offer took place. 
 *
Death 
 In case a Warrantholder dies, the Warrants previously granted to him/her pass to his/her heirs and must subsequently be
exercised within a 3 month period. 
 * Pension 

If the Warrantholder retires (pension), the Warrants must be exercised within a 3 month period. 

  
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 * Sickness or disability 

If the employment relationship is terminated due to long term sickness or disability, the Warrants must be exercised within a 3 month period.

 The Board of Directors may, at its discretion, choose not to apply the rules provided in this section 8.μ 

9. PROTECTIVE MEASURES 

The Board of Directors shall take appropriate measures to protect and safeguard the interests of the Warrantholders, in case of: 

 

	 	•	 	a fundamental change of control of the Company; 

  

	 	•	 	a fundamental change in the legislation; 

  

	 	•	 	serious and exceptional circumstances jeopardizing the rights of the Beneficiaries. 

 This
Warrant Plan 2002 may, if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of any such amendments and will be bound by them. The modifications may not amend the essential provisions of this Plan. 

10. DISPUTE RESOLUTION 

All disputes regarding this 2002 Warrant Plan shall be settled by the Board of Directors. If required, the dispute shall be submitted to the
Courts and Tribunals of Mechelen, at the occasion of which all parties shall elect domicile at the registered office of the Company. 

11. FINAL PROVISIONS 

* Additional Information 

If desired, the Company shall submit the following documents to the Beneficiary: 

 

	 	•	 	charter of the Company and modifications thereto; 

  

	 	•	 	charter of the Foundation and modifications thereto. 

 * Taxes and social security 

The Company or a Subsidiary shall be entitled, in accordance with the applicable legislation or customs, to withhold an amount on the cash
salary or remuneration of the month of the taxable moment or on the cash salary or remuneration of any subsequent month, and/or the Beneficiary shall be obliged to pay to the Company or to a Subsidiary (if requested by the Company or the Subsidiary)
the amount of any tax and/or social security contributions due or payable by virtue of the Offer, the exerciseability or the exercise of the Warrants or due by virtue of the issuance of the Class D Shares. 

  
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 The Company or a Subsidiary shall be entitled, in accordance with the applicable legal
provisions or customs, to perform the necessary reporting which may be required by virtue of the Offer of the Warrants, the exerciseability thereof or the issuance of the Class D Shares. 

* Costs 
 All taxes and
duties levied at the occasion of the Exercise of the Warrants and/or the issuance of new Class D Shares shall be borne by the Warrantholder. 

Costs in connection with the issuance of the Warrants or the Class D Shares will be borne by the Company. 

* Relation with employment or consultancy agreement or position as a director 

Notwithstanding any provision in this Plan, the rights and obligations of any individual or entity under the terms of his/her office,
employment or consultancy agreement with the Company or any Subsidiary, shall not be affected by his/her participation in the Plan or any right he/she might have to participate therein. An individual to whom Warrants are granted pursuant to the Plan
shall have no rights to compensation or damages in consequence of the termination of his/her office, employment or consultancy agreement with the Company or any Subsidiary, for any reason whatsoever, insofar as those rights arise or may arise from
his/her ceasing to have rights under or be entitled to Exercise any Warrant under the Plan as a result of such termination or from the loss or reduction in value of such rights or entitlements. 

  
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 WARRANT PLAN 2006 BELGIUM/THE
NETHERLANDS 
 ON SHARES OF 

GALAPAGOS NV 

GENERAL RULES 

  
 Galapagos NV, Warrant Plan 2006
Belgium/The Netherlands - 1 - 

			
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 TABLE OF CONTENTS 

 

							
	1.		Base and Purpose		 	3	  
			
	2.		Definitions		 	3	  
			
	3.		Warrants		 	5	  
		
	 •       Outline
		 	5	  
	 •       Number to be Offered per Beneficiary
		 	5	  
	 •       Limits on the Transferability of the Warrants
		 	6	  
	 •       Exercise Price
		 	6	  
	 •       Administration of the Warrant Plan
		 	7	  
			
	4.		Beneficiaries of the Plan		 	7	  
			
	5.		Acceptance or Refusal of the Grant		 	7	  
			
	6.		Exercise and Payment Conditions		 	8	  
		
	 •       Exercise Term
		 	8	  
	 •       Exercise Period
		 	8-9	  
	 •       Conditions of Exercise
		 	9	  
	 •       Exercise of Warrants in accordance with the Law
		 	9	  
			
	7.		Issue of the Shares		 	9-10	  
			
	8.		Cessation of Employment or Service Relationship		 	10	  
		
	 •       Cessation of Employment or Service Relationship
		 	10	  
	 •       Death
		 	11	  
	 •       Retirement
		 	11	  
	 •       Sickness or Disability
		 	11	  
	 •       Deviations
		 	11	  
			
	9.		Protective measures		 	11	  
			
	10.		Dispute Resolution		 	12	  
			
	11.		Closing Provisions		 	12	  
		
	 •       Additional Information
		 	12	  
	 •       Taxes and Social Security Tax Treatment
		 	12	  
	 •       Costs
		 	12	  
	 •       Relationship with Employment Contract, Consultancy Agreement or
Director’s Mandate
		 	12-13	  

  
 Galapagos NV, Warrant Plan 2006
Belgium/The Netherlands - 2 - 

			
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	1.	BASE AND PURPOSE 

 The Board of Directors of
GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant plan 2006 Belgium/The Netherlands in its decision of 3 February 2006. 

With the Plan set forth hereafter (see infra sub section 2 “Definitions - Beneficiary” and section 4 “Beneficiaries of the Plan”) the
Company wants to inform all Beneficiaries of the conditions under which it is willing to grant Warrants. 
 The Company thus wants to acknowledge the best
endeavours used by the Beneficiaries to help the company be a successful company. 
  

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the
meanings given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Notice of Offer: the letter specifying the Offer; 

Notice of Acceptance: the form that is received by the Beneficiary at the moment of the Offer and that needs to be returned to the Company, f.a.o. the
managing director, prior to the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: in principle any Employees, Consultants and Directors of the Company and its Subsidiaries. The Board of Directors can also additionally
and on an individual basis grant the opportunity to acquire Warrants to other persons who in the framework of their professional activity made themselves useful for the Company or its Subsifdiaries; 

Director: the individuals or corporations who at any moment during the existence of the Company exercise a director’s mandate to which they were
appointed by either the shareholders’ meeting or the Board of Directors by way of cooptation; 
 Consultant : an individual or a corporation who
performs on a contractual basis professional services to the Company or a Subsidiary, but who is not an Employee (irrespective of whether the contract is concluded directly with the individual or corporation under consideration or – in case of
an individual – with a corporation that has entrusted said performance of services to that individual); 
 Control: the competence de iure or de
facto to have a decisive influence on the designation of the majority of its Directors or on the orientation of its management, as determined in article 5 et seq. of the Company Law Code; 

  
 Galapagos NV, Warrant Plan 2006
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 Participant: a Beneficiary who has accepted the Offer and to whom a Warrant is granted in accordance
with this Plan; 
 Subsidiary: a company in relation to which exists a competence to Control as set forth in article 6 of the Company Law Code; 

Cessation of Employment Contract: the effective date of the cessation, for whatever reason, of the employment contract concluded between the
Participant-Employee under consideration and either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous employment for the Company or a Subsidiary; 

Cessation of Consultancy Agreement: the effective date of cessation for whatever reason of the Consultancy Agreement concluded between the
Participant-Consultant and either the Company or a Subsidiary, except for a cessation accompanied by the simultaneous conclusion of a new Consultancy Agreement or an Employment Contract with the Company or a Subsidiary; 

Cessation of Director’s Mandate: the effective date of cessation for whatever reason of the Director’s Mandate exercised by the
Participant-Director for either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous new appointment as a Director with the Company or a Subsidiary; 

New Shares: the shares of the Company to be issued pursuant to the exercise of the Warrants under this Plan; 

Plan: the present Warrant plan 2006 Belgium/The Netherlands as approved by the Board of Directors on 3 February 2006 and as amended from time to
time by the Board of Directors in accordance with its provisions; 
 Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased person; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is tax wise deemed to take place on the 60th day following the date of
the Offer; 
 Exercise: making use of the Warrant right acquired by accepting the Offer to acquire Shares at the Exercise Price; 

Exercise Price: the pre-determined price at which a new Share can be acquired when Exercising a Warrant, during one of the specific Exercise Periods
within the Exercise term; 
 Exercise Term: the term in which the Beneficiary can exercise his/her Warrants to acquire Shares in the Company,
taking into account the specific Exercise Periods and the specific exercise terms and conditions as set forth in section 6 of the present general rules; 

  
 Galapagos NV, Warrant Plan 2006
Belgium/The Netherlands - 4 - 

			
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 Exercise Period: a period to be determined by the Board of Directors of two weeks within the Exercise
Term during which Warrants can be Exercised; 
 Company: the public limited liability company Galapagos NV, having its seat at Generaal De Wittelaan,
L11 A3, 2800 Mechelen; 
 Warrant: the right to acquire, within the framework of this Plan, one New Share within the Exercise Term and at the
Exercise Price; 
 Warrant Holder: any Beneficiary who has been granted Warrants and who has not yet Exercised all of them; 

Warrant Agreement: the agreement that, if need be, is concluded between the Participant and the Company; 

Employee: any employee of the Company or a Subsidiary who has concluded an open-ended employment contract and who has ended his/her probationary
period; 
 Words and terms denoting the plural shall include the singular and vice versa. 

 

	3.	WARRANTS 

 Outline 

The number of Warrants created in the framework of this Plan is of maximum 350.000. These Warrants shall be called “Warrants 2006 Belgium/The
Netherlands”. 
 The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary thereof to subscribe to one Share in accordance with the terms and conditions of this Plan. 

As from the date of creation of the Warrants by the General Meeting of Shareholders of the Company, the Board of Directors may, within a period of five
(5) years, grant Warrants to the Beneficiaries. The Board of Directors may delegate its authorities under this Plan to the Nomination and Remuneration Committee. 

Grants made under this Plan are not required to be identical for each Beneficiary. 

Number to be Offered per Beneficiary 
 The number of
Warrants to be offered to the Beneficiaries shall be determined by the Board of Directors and, with respect to the Directors of the Company, by the Shareholders’ Meeting. 

  
 Galapagos NV, Warrant Plan 2006
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 Limits on the Transferability of Warrants 

The acquired Warrants are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 

The Warrant cannot be encumbered by any pledge, security or right in rem or be charged in any other manner. 

Warrants that in conflict with the foregoing are transferred, pledged or charged shall become legally null and void. 

Exercise Price 
 The Board of Directors shall determine
the Exercise Price per Warrant at the moment the Warrants are granted to the Beneficiary. 
 If the Shares of the Company are not listed or traded on a
regulated market at the date of the Offer, the Exercise Price shall in no circumstances be lower than the market value of the Shares, as determined by the Board of Directors of the Company uniformly with the advice of the internal auditor of the
Company or of an auditor appointed for these purposes by the Board of Directors, in the absence of an internal auditor. In addition in this case the Exercise Price (i) shall at least be equal to the book value of the existing shares as it
appears from the last annual accounts of the Company closed and approved by the competent organ prior to the date of the Offer and (ii) shall, in addition, at least be equal to the par value of the Shares. 

If the Shares of the Company are listed or traded on a regulated market at the date of the Offer, the Exercise Price shall, at the discretion of the Board of
Directors, at least be equal to (a) the closing price of the Shares on the last trading day preceding the date of Grant or (b) the average of the closing price of the Shares of the last thirty (30) days preceding the date of Grant, on
the understanding that the Exercise Price may under no circumstances be lower than the issue price as calculated in accordance with article 598, section 2 of the Company Law Code and in any case may never be lower than the par value of the ordinary
shares at the date of issue of the Warrants, being €5,45. 
 At exercise the Exercise Price must be booked as capital for an amount equal to the par
value of the existing shares of the Company. The amount exceeding the par value must be recorded as an issue premium that, to the same extent as capital, forms part of the collateral of third parties and that must be recorded on an unavailable
liabilities account which can only be reduced or transferred by a decision of the General Meeting of Shareholders observing the same rules and formalities as those applicable to a capital reduction. 

In derogation of article 501 of the Company Law Code and without harming the legally foreseen exceptions, the Company expressly preserves the right to take
any decision and to carry out any transaction which might have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that may otherwise affect the rights of the Warrant Holders (with the exception of those
causing an increase of the par value of the existing shares (in order not to conflict with article 582 of the Company Law 

  
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Code)), even in the event that these decisions might cause a reduction of the advantages offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be to
reduce such advantages. 
 Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled
to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Board of Directors may, however, in its sole discretion, modify (i) the number of shares in respect
of which one Warrant may be exercised or (ii) the Exercise Price. As soon as reasonably practicable, notice in writing of such amendment shall be given by the Board of Directors to any Warrant Holder affected thereby. 

In case of a merger, split-up or stock-split of the company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be
adjusted in accordance with the applicable conversion ration applicable at the occasion of the merger, split-up or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company ensures
that the Warrant Plan is managed and administered and makes sure that all questions of Beneficiaries or Warrant Holders are answered in an accurate and fast manner. 

4. BENEFICIARIES OF THE PLAN 

Beneficiaries are the persons as described in section 2 (“Definitions – Beneficiaries”). 

Employees whose employment contract with the Company or with a Subsidiary mentioned in the list is temporarily suspended due to a mission in a foreign company
(“expatriates”) may also qualify as a Beneficiary. 
 The Board of Directors shall have an absolute discretion as to the selection or refusal as
Beneficiary of other persons. 
 The majority of the Warrants under this Plan will be reserved for and granted to Employees. The Board of Directors will
ensure that a minority of the number of Beneficiaries will consist of Directors and Consultants and a majority will consist of Employees. Furthermore, the Board of Directors will ensure that the majority of the issued Warrants will be reserved for
and issued to Employees. 
 5. ACCEPTANCE OR REFUSAL OF THE
GRANT 
 The Beneficiaries may accept or refuse any individual Grant in whole or in part. Acceptance of the Grant has to be formally
established by completing, i.e. putting a cross next to the paragraph concerned in the Notice of Acceptance, and returning the Notice of Acceptance. 

  
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 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his/her decision
regarding the offer: Acceptance or Refusal. 
 The Acceptance Letter needs to be returned to the address mentioned therein, duly completed and signed, prior
to the date mentioned therein. 
 In case the Beneficiary has not returned the Notice of Acceptance prior to the date mentioned therein, he/she shall be
deemed to have refused the Grant. 
 The Warrants are registered in the name of the Beneficiary. In case of Acceptance, the Beneficiary will be recorded in
the Register of Warrant Holders. This register is kept at the registered office of the Company, mentioning the name of the Warrant Holder and the number of Warrants held by him/her. For each Grant of Warrants the Company will provide the Warrant
Holder with a Warrant Certificate. 
 The Nomination and Remuneration Committee can decide to replace or complement the Notice of Acceptance by a written
Warrant Agreement to be signed by the Participant and the Company, which agreement will contain the conditions determined by the Nomination and Remuneration Committee, in accordance with this Plan. 

The ownership of the Warrants accepted by the relevant Beneficiary will pass to the Beneficiary on the sixtieth (60th) day following the date of the Grant. 
 6. EXERCISE AND
PAYMENT CONDITIONS 
 Exercise Term 

A Warrant may not in any circumstances be exercised more than eight (8) years after the date of Grant, provided however that the Warrants can be exercised
no later than 2 February two thousand sixteen (02/02/2016). 
 Exercise Period 

Warrants may not be exercised earlier than the end of the third (3rd) calendar year following the one
in which the Grant has been made. 
 Between the commencement of the fourth calendar year following the one in which the Grant has been made and the fourth
anniversary of the Grant maximum sixty percent (60%) of the granted Warrants may be exercised during an Exercise Period. 
 As of the fourth (4th) anniversary of the Grant all granted Warrants may be exercised without any restriction as to the number of vested warrants during an Exercise Period. 

The Board of Directors will determine per quarter at least one Exercise Period of two weeks. 

  
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 The Board of Directors may decide, with a view to avoid misuse of foreknowledge, to establish closed periods
during which Warrants cannot be exercised. 
 Conditions of Exercise 

Separate Warrants can only be exercised as a whole. 
 In order to
exercise a Warrant, the Warrant Holder shall submit an appropriate Exercise Notice (the exercise form) to the Board of Directors or to an authorized person designated by the Board of Directors, together with the Exercise Price, to be deposited into
a bank account opened in the name of the Company. 
 The Warrant Holder needs to mention the number of Warrants he/she desires to exercise on the Exercise
Notice. 
 In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage. 
 Exercise of Warrants in accordance with the Law 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the exercise conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Company Law Code and thus is also exercised pursuant to this article, the Shares issued upon exercise of the Warrants will be not transferable, except with the explicit prior consent of the Company, until
such time the Warrant would have become exercisable pursuant to this Plan. 
  

	7.	ISSUE OF NEW SHARES 

 The
Company shall not be obliged to issue New Shares pursuant to the exercise of the Warrants unless all Exercise Conditions set forth in section 6 have been complied with. 

As soon as these conditions are complied with, the New Shares will be issued, with due consideration of the required administrative formalities. The Board of
Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once every quarter establish, before a notary public, that the capital of the Company is increased. 

The New Shares shall participate in the profit of the Company as of the first day of January of the year in which they have been issued. 

In view of a rapid delivery of the Shares resulting from the exercise of Warrants, the Company can propose to the Warrant Holders who complied with the
Exercise Conditions to receive existing Shares awaiting the issue of New Shares by notary deed. In such case 

  
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the Warrant Holders will receive an advance of existing Shares subject to the conditions that they sign an authority by which the New Shares upon issue will immediately and directly be delivered
to the Company or to any other Party who provided the advance. 
 The Board of Directors has given proxy to two (2) members of the Board of Directors
or to the managing Director, with possibility of subdelegation and privilege of entering into the rights, to establish by notary deed the exercise of Warrants, the issue of the corresponding number of Shares, the contribution in cash, the
corresponding realization of the capital increase, the allocation of the difference between the Exercise Price and the par value of the Shares to an unavailable liabilities account “issue premiums”, and the coordination of the articles of
association of the Company with the new situation of the social capital. 
 The Company will take the necessary actions to have the New Shares listed for
trading on a regulated market. The Company has not issued VVPR (“Verlaagde Voorheffing – Précompte Réduit”) strips and has no intention whatsoever to do so in the future either. 

 

	8.	CESSATION OF EMPLOYMENT OR SERVICE RELATIONSHIP 

Cessation of Employment or Service Relationship 
 In case
of Cessation of the Employment Contract, the Consultancy Agreement or the Director’s Mandate after the end of the third (3rd) calendar year following the date of the Grant, the
Beneficiary must exercise its not yet exercised Warrants within a three (3)-month period as from the date of the cessation of employment or the date he/she is otherwise not involved any more in the activities of the Company. 

In case of Cessation of the Employment Contract or the Consultancy Agreement prior to the end of the third
(3rd) calendar year following the year of the Grant, a part of the granted Warrants shall become legally null and void as follows: 

 

	 	•	 	90% if Cessation occurs prior to the first (1st) anniversary of the Grant; 

 

	 	•	 	80% if Cessation occurs prior to the second (2nd) anniversary of the Grant; 

 

	 	•	 	60% if Cessation occurs prior to the third (3rd) anniversary of the Grant; 

 

	 	•	 	40% if Cessation occurs following the third (3rd) anniversary of the Grant but prior to the end of the third
(3rd) calendar year. 

 If Cessation of the Director’s Mandate occurs prior to
the third (3rd) anniversary of the Grant, subject to a dissident decision of the Board of Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants
shall become legally null and void as follows: 
  

	•	 	1/36th of the Grant for each full month between the Cessation of the Director’s Mandate and the third (3rd) anniversary of the Offer. 

The Warrants that do not become legally null and void are exercisable during a period of three (3) months, starting as of the first (1st) day of the fourth (4th) calendar year following the year of Grant, during an Exercise Period of two (2) weeks to be determined by
the Board of Directors. 

  
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 Death 

In case a Warrant Holder dies, all Warrants acquired by such Warrant Holder pass to his/her Personal Representatives and must be exercised within three
(3) months, during an Exercise Period of two (2) weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will become legally null and void. 

Retirement 
 Upon retirement of a Warrant holder, the
Warrants must be exercised within three months, during an Exercise Period of two weeks to be determined by the Directors. Warrants that are not exercised within such period will become legally null and void. 

Illness or Disability 
 In case of termination of the
employment contract because of long term injury or disability, the Warrants acquired by the Warrant Holder must be exercised within three (3) months, during an Exercise Period of two (2) weeks to be determined by the Board of Directors.
Warrants that are not exercised within such period will become legally null and void. 
 Deviations 

The Board of Directors shall have an absolute discretion to deviate at any time it thinks fit from the rules set forth in this section 8. 

 

	9.	PROTECTIVE MEASURES 

 The Directors shall take appropriate
measures to protect and safeguard the interests of the Warrant Holders in case of: 
  

	•	 	a fundamental change of control of the Company; 

  

	•	 	a fundamental change in the regulations; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries. 

 This Plan may, if
required by the circumstances, be modified by the Board of Directors. The Beneficiary shall be informed of any such amendments and will be bound by them. The modifications may in no event affect the essential provisions of this Plan. The amendments
may not harm the rights of the existing Warrant Holders. In the event the rights of the existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

  
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	10.	DISPUTE RESOLUTION 

 The Board of Directors shall take note
of any disputes arising from or in connection with the present Plan and, the case being, may propose for a dispute to be amicably settled. If required the dispute may be taken to court. In the latter case the parties submit to the jurisdiction of
the Belgian courts and the legal venue for any disputes arising from or in connection with this Plan shall then be the Courts and Tribunals of the judiciary Mechelen (Belgium) where all parties involved shall make election of domicile in this
respect at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

If desired, the Company will provide the Beneficiary with: 
  

	•	 	the articles of association of the Company as well as their amendments, if any; 

 Taxes and Social Security
Tax Treatment 
 The Company or a Subsidiary shall be entitled, according to the applicable law or customary law, to apply a withholding on the salary in
cash or compensation for the month in which the taxable moment occurs or on the salary in cash or compensation of any following month, and/or the Beneficiary shall be compelled to pay to the Company or a Subsidiary (if required by the Company or a
Subsidiary) any amount of tax and/or social security contributions due or payable because of grant, vesting or exercise of the Warrants or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, according to the applicable law or customary law, to prepare the required reportings, necessary as a result of
grant of the Warrants, the vesting or the delivery of the Shares. 
 Costs 

Stamp duties, stock exchange taxes and similar charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares
or existing Shares shall be borne by the Warrant Holder. 
 The costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by
the Company. 
 Relationship with Employment Contract, Consultancy Agreement or Director’s Mandate 

No person has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary the right to have additional Warrants granted to
him/her later. The grant of Warrants under this Plan shall not deliver on a promise of continuous employment by the Company or Subsidiaries. 

  
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 Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity resulting
from his/her director’s mandate, employment contract or consultancy agreement concluded with the Company or a Subsidiary shall not be affected by his/her participation in this Plan or by any right that he/she may have to participate therein.

 An individual to whom Warrants are granted in accordance with this Plan shall not be entitled to any compensation or damages by reason of the cessation
of his/her director’s mandate, employment contract or consultancy agreement with the Company or a Subsidiary, for any reason or in any circumstance, to the extent that these rights or entitlements would arise or might arise for loss or
potential loss by reason of being or becoming unable to exercise Warrants under the Plan as a result of the cessation of such agreement or by reason of a loss or decrease in value of the rights or advantages. 

*** 

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 
  

RULES OF THE GALAPAGOS NV 

WARRANT PLAN 2006 UK 

ADOPTED ON 12 May 2006 
  

 

  

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

GALAPAGOS NV 
 RULES OF
THE GALAPAGOS NV WARRANT PLAN 2006 UK 
 Established by resolution of the board of Directors on 12 May 2006 

Approved by the U.K.’s HM Revenue and Customs (ref no X23100/APT) on .................. 

2006 
 INDEX 

 

					
			
	 1.      
		INTERPRETATION		2
			
	 2.      
		GRANT OF WARRANTS		7
			
	 3.      
		RELATIONSHIP WITH CONTRACT OF EMPLOYMENT		9
			
	 4.      
		NON-TRANSFERABILITY OF WARRANTS		10
			
	 5.      
		EXERCISE PRICE		10
			
	 6.      
		ACCEPTANCE OR REFUSAL OF THE GRANT		11
			
	 7.      
		EXERCISE AND PAYMENT CONDITIONS		12
			
	 8.      
		ISSUE OF NEW SHARES		13
			
	 9.      
		CESSATION OF EMPLOYMENT		14
			
	 10.    
		PROTECTIVE MEASURES		15
			
	 11.    
		WARRANT TAX LIABILITY		16
			
	 12.    
		INDIVIDUAL LIMITS ON THE GRANTING OF WARRANTS		17
			
	 13.    
		DEMERGER, RECONSTRUCTION OR WINDING-UP		18
			
	 14.    
		TAKE-OVER		18
			
	 15.    
		VARIATION OF SHARE CAPITAL		21
			
	 16.    
		ALTERATION OF SCHEME		22
			
	 17.    
		SERVICE OF DOCUMENTS		22
			
	 18.    
		MISCELLANEOUS		23
			
	 19.    
		PROTECTION OF PERSONAL DATA		23
	
	APPENDICES
			
	 A.     
		WARRANT CERTIFICATE		25
			
	 B.     
		NOTICE OF ACCEPTANCE		27
			
	 C.     
		EXERCISE NOTICE		29

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

	1	INTERPRETATION 

 Definitions 

 

	1.1	In this Scheme (unless the context otherwise requires) the following words and phrases have the meanings given below: 

  

					
			
		 	“Act”	  	the U.K. Income Tax (Earnings and Pensions) Act 2003;
			
		 	“Acceptance Notice”	  	means a notice substantially in the form of Appendix B or in such other form as the Directors may decide, that the Beneficiary receives at the moment of the Grant of the Warrants and that the Beneficiary needs to sign and return
to the Company (for the attention of the managing director) for acceptance of the Grant;
			
		 	“AIM”	  	the Alternative Investment Market of the London Stock Exchange;
			
		 	“Approval Date”	  	the date on which the Company receives notice that this Scheme has been approved by the U.K.’s HM Revenue and Customs in accordance with the CSOP Code;
			
		 	“Associated Company”	  	has the meaning ascribed to it in the CSOP Code;
			
		 	“Auditors”	  	the auditors of the Company for the time being;
			
		 	“Beneficiary”	  	Any Employee of the Group.
			
		 	“Cessation of Employment”	  	The effective date of cessation, for any reason whatsoever, of the employment agreement between the relevant Employee-Warrant holder and the Company or a Subsidiary, with the exclusion of cessation in conjunction with
simultaneous entering into employment with the Company or a Subsidiary.
			
		 	“Cessation of Directorship”	  	The effective date of cessation, for any reason whatsoever, of the office of Director of the relevant Director-Warrant holder with the Company or a Subsidiary, with the exclusion of cessation in conjunction with simultaneous
appointment with the Company or a Subsidiary.

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

			
		
	“Company”	  	GALAPAGOS NV, a Belgian corporation with seat at Generaal De Wittelaan L11 A3, 2800 Mechelen, Belgium (registered in the register of enterprises under number 0460.460.429);
		
	“CSOP Code”	  	Chapter 8 of Part 7 and Schedule 4 of the Act and Part 3 of Schedule 7D to the U.K. Taxation of Chargeable Gains Act 1992;
		
	“Control”	  	has the meaning given in section 840 of the United Kingdom Taxes Act;
		
	“Date of Grant”	  	in relation to any Warrant, the date on which that Warrant is Granted;
		
	“Directors”	  	The board of directors of the Company consisting of persons (individuals or legal entities) appointed by the shareholders’ meeting (or by the Directors by way of cooptation) as members of the board of directors of the
Company from time to time;
		
	“Employee”	  	 (a) an employee who is a director of any member of the Group and required under his contract of employment to work for not less than 25
hours per week (excluding meal breaks) disregarding holiday entitlement; or
  
 (b) any
other employee of any member of the Group;

		
	“Euronext”	  	means the Brussels and Amsterdam based stock exchanges of Euronext NV.
		
	“Exercise Notice”	  	means a notice substantially in the form of Appendix C or in such other form as the Directors may decide;
		
	“Exercise Period”	  	any period of two weeks to be determined by the Directors within the Exercise Term during which Warrants can be exercised.
		
	“Exercise Price”	  	in relation to a Warrant, the pre-determined price at which a Share can be acquired and which is payable upon the exercise of that Warrant and determined in accordance with Rule 5 hereof;

  
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	“Exercise Term”	  	the term in which the Beneficiary can exercise his/her Warrants to acquire Shares in the Company, taking into account the specific Exercise Periods and specific exercise conditions set forth in section 7 of this Scheme.
		
	“Grant”	  	when used as a noun, the written and dated notification to Beneficiaries of the Scheme of the opportunity to acquire Warrants in accordance with the terms of the Scheme, or when used as a verb, the act of providing such
notification;
		
	“Group”	  	the Company and each and every company which is for the time being a Subsidiary;
		
	“Key Feature”	  	in relation to this Scheme, a provision which is necessary in order to meet the requirements of Schedule 4 to the Act;
		
	“London Stock Exchange”	  	London Stock Exchange plc;
		
	“Market Value”	  	in relation to a Share on a given day, the market value of a Share determined in accordance with the provisions of Part 8 of the U.K. Taxation of Chargeable Gains Act 1992 and agreed for the purposes of this Scheme with the
U.K.’s HM Revenue and Customs’ Shares Valuation on or before that day;
		
	“Material Interest”	  	has the meaning given in paragraph 10 of Schedule 4 to the Act;
		
	“Model Code”	  	the Model Code for securities transactions by directors of companies traded on AIM or, if fully listed, by directors of listed companies, published from time to time by the London Stock Exchange, or any equivalent code applicable
to securities transactions by directors of companies trading on Euronext;
		
	“New Shares”	  	Shares to be issued pursuant to the exercise of Warrants under this Scheme;
		
	“NICs”	  	U.K. National Insurance Contributions;
		
	“NIC Warrant Gain”	  	a gain realised upon the exercise of, or acquisition of Shares in pursuance of, a Warrant, being a gain that is treated as remuneration derived from the Warrant-holder’s employment by virtue of section 4(4)(a) of the U.K.
Social Security Contributions and Benefits Act 1992;

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

			
	“NI Regulations”	  	the laws, regulations and practices currently in force relating to liability for and the collection of NICs;
		
	“Warrant”	  	a right to acquire one Share, granted in accordance with and subject to the Rules of this Scheme;
		
	“Warrant Certificate”	  	means a certificate substantially in the form of Appendix A or in other such form as the Directors may decide;
		
	 “Warrantholder’s Employer”
 or
“my Employer”
	  	in relation to a Warrant holder, such member of the Group as is the Warrant holder’s employer or, if he has ceased to be employed within the Group, was his employer or such other member of the Group, or such other person as,
under the PAYE Regulations or, as the case may be, the NI Regulations, or any other statutory or regulatory enactment (whether in the U.K. or any other jurisdiction) is obliged to account for any Warrant Tax Liability;
		
	“Warrant Tax Liability”	  	in relation to a Warrant holder, any liability of the Warrant holder’s Employer to account to HM Revenue and Customs or other tax authority for any amount of, income tax or NICs (which shall include secondary Class I NICs)
or any equivalent charge which the U.K.’s HM Revenue & Customs accepts in the nature of tax or social security contributions (whether under the laws of the U.K. or of any other jurisdiction) which may arise upon the exercise of, or the
acquisition of Shares pursuant to, Warrants;
		
	“Warrant holder”	  	a person who has been Granted Warrants in accordance with this Scheme and who has accepted such Warrants by means of the Acceptance Notice and who has not yet exercised such Warrants or, if that person has died, his Personal
Representatives;
		
	“Ordinary Share Capital”	  	issued share capital of the Company (other than fixed rate preference shares);

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

					
		 	“PAYE Regulations”	 	the regulations made under section 684 of the Act;
			
		 	“Personal Data”	 	has the meaning it bears for the purposes of the U.K. Data Protection Act 1998 or of any equivalent act applicable in the jurisdiction in which the Company is incorporated;
			
		 	“Personal Representatives”	 	in relation to a Warrant holder, the legal personal representatives of the Warrant-holder (being either the executors of his will to whom a valid grant of probate has been made or if he dies intestate the duly appointed
administrator(s) of his estate) who have provided to the Directors evidence of their appointment as such;
			
		 	“Related Company”	 	any company which, in relation to the Company, is an associated company as that term is defined in section 416 of the Taxes Act except that, for the purposes of this Scheme, sub-section (1)
of that section shall have effect with the omission of the words “or at any time within one year previously”;
			
		 	“Rules”	 	these Rules as from time to time amended in accordance with their terms and reference to a “Rule” shall be construed as a reference to the equivalent numbered paragraph of these Rules;
			
		 	“Scheme”	 	The GALAPAGOS NV Warrant Plan 2006 UK as set out in these Rules as approved by the Directors on [DATE] and as amended from time to time;
			
		 	“Shares”	 	fully-paid ordinary shares in the capital of the Company which satisfy the requirements of paragraphs 16 to 20 of Schedule 4 to the Act ;
			
		 	“Subsidiary”	 	any company which is for the time being both a subsidiary (as defined in section 736 of the U.K. Companies Act 1985 and in article 6 of the Belgian Code of Companies) of the Company and under the Control of the Company;
			
		 	“Taxes Act”	 	the U.K. Income and Corporation Taxes Act 1988.
			
		 	“U.K.”	 	the United Kingdom

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

	1.2	References to Warrants vesting or being or becoming vested in respect of any number or proportion of the Shares over which it subsists are to be read as references to the Warrants becoming capable of being exercised
either immediately or, subject to the Warrant holder continuing to hold office or employment within the Group (or with any Related Company), at some future time. 

  

	1.3	References to Shares in respect of which Warrants subsist at any time are to be read and construed as references to the Shares over which the Warrants are then held (and in respect of which it has not then lapsed and
ceased to be exercisable). 

  

	1.4	Any reference to any enactment shall include any consolidation, modification, extension, amendment or re-enactment thereof or any subordinate legislation made under it for the time being in force. 

 

	1.5	Words denoting the masculine gender shall include the feminine. 

  

	1.6	Words denoting the singular shall include the plural and vice versa. 

  

	1.7	Words not otherwise defined in this Rule 1 have the same meanings as in the CSOP Code. 

  

	2	GRANT OF WARRANTS 

  

	2.1	The number of Warrants created in the framework of this Scheme is of 453,715. These Warrants shall be called “2006 UK Warrants”. This Scheme shall be called the “Warrant Plan 2006 UK”.

 Subject to the following provisions of this Rule 2, the Directors shall have an absolute discretion as to the selection of
persons to whom Warrants are granted but no Warrant shall be granted to any person unless he is a Beneficiary and no Beneficiary shall be entitled as of right to be granted Warrants. 

The number of Warrants to be offered to the Beneficiaries shall be determined by the Board of Directors and, with respect to the directors of
the Company, by the shareholders’ meeting. 
 The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary thereof to acquire / subscribe to one Share in accordance with the terms and conditions of this Scheme.

 As from the date of creation of the Warrants by the Board of Directors of the Company, the Board of Directors may, during a five
(5) year period, Grant Warrants to the Beneficiaries. The Board of Directors may delegate its authorities under this Warrant Plan 2006 UK to the Nomination and Remuneration Committee. 

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

 Grants made under this Scheme are not required to be identical for each Beneficiary. 

Warrants may, subject to Rule 2.3 below, only be granted in that period commencing: 

 

	 	2.1.1	on the Approval Date and ending forty-two (42) days thereafter; or 

  

	 	2.1.2	on the day following the announcement of the interim or final results of the Company for any financial year or part thereof and ending forty-two (42) days thereafter, 

and any grant of Warrants shall be effected by the issue, as a deed, of a Warrant Certificate. 

 

	2.2	Warrants may be granted outside the periods specified in Rule 2.1 if: 

  

	 	2.2.1	the Directors, in their absolute discretion, consider the circumstances sufficiently exceptional to justify the grant of Warrants; or 

 

	 	2.2.2	the Company is not listed on the official list of the London Stock Exchange or otherwise quoted on, dealt in or traded on AIM or any other market, including but not limited to Euronext. 

 

	2.3	Warrants shall not be granted to any person at any time when he has or has within the preceding 12 months had, a Material Interest in the Company or a company which has control of the Company or is a member of a
consortium which owns such a company or the Warrant holder’s Employer. 

  

	2.4	Warrants shall be granted by the Company and, as soon as reasonably practicable after the grant, the Company shall issue to the Warrant holder a Warrant Certificate which, inter alia, specifies: 

 

	 	(a)	the Date of Grant; 

  

	 	(b)	the identity of the Company; 

  

	 	(c)	the number of Shares in respect of which the Warrants are granted; 

  

	 	(d)	the Exercise Price; 

  

	 	(e)	the earliest date on which the Warrants may be exercised by reason of Rule 7.2; 

  

	 	(f)	that it is a condition of exercise of the Warrants that the Warrant holder agrees to indemnify the Company and the Warrant holder’s Employer in respect of any Warrant Tax Liability, and is otherwise in such form as
the Company may from time to time determine. 

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

	2.5	Unless the Company otherwise determines in relation to the grant of Warrants on any occasion, any person to whom Warrants are granted must confirm his acceptance of such grant by delivering to the Company a duly
completed Acceptance Notice and if no such Acceptance Notice is received by the Company within the period of sixty days after the Date of Grant (or such later time as the Company may notify to the Warrant holder) the Warrants shall be deemed as
never having been granted. 

  

	3	RELATIONSHIP WITH CONTRACT OF EMPLOYMENT 

  

	3.1	Beneficiaries are the persons as described in Rule 1 (“Definitions – Beneficiaries”). 

Employees whose employment contract with the Company or with a Subsidiary is temporarily suspended due to a mission in another country
(“expatriates”) may also qualify as a Beneficiary. 
 The majority of the 2006 UK Warrants will be reserved for and granted to
Employees. The Directors will ensure that a minority of the number of Beneficiaries will consist of Directors and a majority will consist of Employees. Furthermore, the Directors will ensure that the majority of the issued Warrants will be reserved
for and granted to Employees. 
  

	3.2	The grant of Warrants does not form part of the Warrant holder’s entitlement to remuneration or benefits pursuant to his contract of employment or office nor does the existence of a contract of employment between
any person and the Warrant holder’s Employer, the Company, any Subsidiary or Related Company or former Subsidiary or former Related Company give such person any right or entitlement to have Warrants granted to him in respect of any number of
Shares or any expectation that Warrants might be granted to him whether subject to any conditions or at all and the grant of Warrants shall not confer on any Warrant holder any rights whatsoever against the Company or any Subsidiary or Related
Company or former Subsidiary or former Related Company directly or indirectly. 

  

	3.3	The rights and obligations of a Warrant holder under the terms of his contract of employment or office with the Company or any Subsidiary or Related Company or former Subsidiary or former Related Company shall not be
affected by the grant of Warrants. 

  

	3.4	The rights granted to a Warrant holder upon the grant of Warrants shall not afford the Warrant holder any rights or additional rights to compensation or damages in consequence of the loss or termination of his office or
employment with the Company or any Subsidiary or Related Company or former Subsidiary or former Related Company for any reason whatsoever, whether or not such termination is ultimately held to be wrongful or unfair. 

  
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	3.5	A Warrant holder shall not be entitled to any compensation or damages for any loss or potential loss which he may suffer by reason of being or becoming unable to exercise Warrants in consequence of the loss or
termination of his office or employment with the Company or any Subsidiary or Related Company or former Subsidiary or former Related Company for any reason (including, without limitation, any breach of contract by his employer) or in any other
circumstances whatsoever, whether or not such termination is ultimately held to be wrongful or unfair or a breach of contract. 

  

	4	NON-TRANSFERABILITY OF WARRANTS 

  

	4.1	The Warrants are registered in the name of the Warrant holder. During his lifetime the Warrant holder cannot transfer the Warrants and only the individual to whom Warrants are granted may exercise those Warrants.

  

	4.2	Any Warrant shall immediately become null and void if: 

  

	 	(a)	it is purported to be transferred or assigned (other than to his Personal Representatives upon the death of the Warrant holder), mortgaged, pledged, charged or otherwise disposed of by the Warrant holder; or

  

	 	(b)	the Warrant holder is adjudicated bankrupt or a bankruptcy order is made against the Warrant holder pursuant to Chapter I of Part IX of the U.K. Insolvency Act 1986; or 

 

	 	(c)	the Warrant holder is deprived (otherwise than on death) of the legal or beneficial ownership of the Warrants by operation of law or by the Warrant holder doing or omitting to do anything which causes him to be so
deprived. 

  

	5	EXERCISE PRICE 

  

	5.1	The Exercise Price shall be determined by the Directors at the moment the Warrants are granted to the Beneficiary. If the Shares are listed for trading on a regulated market, the Exercise Price shall in no circumstances
be lower than the Market Value of the Shares and in addition shall be no lower than the lesser of (a) the closing price of the Shares on the last rading ay preceding the Date of Grant, or (b) the average of the closing price of the Shares
of the last five (5) rading ays preceding the Date of Grant. 

  

	5.2	In derogation of article 501 of the Belgian Code of Companies1, the Company expressly preserves the right to take any decision and to carry out any 

 
  

	1 	Article 501 of the Belgian Code of Companies: 

 “Counting from the issue of the warrants
and until the end of exercise period of the warrant, the company cannot by any act decrease the benefits allocated to the warrant holders by the conditions of the issue or by law, except in the case of the second paragraph and in cases for which the
conditions of issue specifically provide for. 
 In case of increase of the share capital by contribution of money the warrant holders can
exercise their warrant notwithstanding any provision to the contrary in the statutes or in the conditions of issue and as the case may be participate in the new issue as a shareholders, to the extent the existing shareholders have such right.”

  
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transaction which might have an impact on its capital, or that may otherwise affect the rights of the Warrant holders, unless the only purpose of these decisions and transactions would be to
reduce such advantages. Should the rights of a Warrant holder be affected or influenced by such a decision or transaction, the Warrant holder shall not be entitled to a modification of the Exercise Price, a modification of the exercise conditions or
any other form of (financial or other) compensation. The Board of Directors may, however, in its sole discretion subject to the prior approval of HM Revenue & Customs, modify (i) the number of shares in respect of which any Warrant may
be exercised or (ii) the Exercise Price. As soon as reasonably practicable, notice in writing of such amendments shall be given by the Board of Directors to any Warrant holder affected thereby. 

 

	5.3	In case of stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be adjusted, subject to the prior approval of HM Revenue & Customs, in accordance
with the applicable conversion ration at the occasion of the stock-split to the other shareholders. 

  

	6	ACCEPTANCE OR REFUSAL OF THE GRANT 

  

	6.1	The Beneficiaries may accept or refuse any individual Grant in whole or in part. Acceptance of the Grant has to be formally established by completing and returning the Notice of Acceptance. 

 

	6.2	Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions its decision regarding the Offer: Acceptance or Refusal. The Acceptance Notice needs to be returned to the address mentioned
therein, duly completed and signed, prior to the date mentioned therein. In case the Beneficiary has not returned the Acceptance Notice prior to the date mentioned therein, he/she shall be deemed to have refused the Grant. 

 

	6.3	The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded in the Register of Warrant holders. This register is kept at the registered office of the Company,
mentioning the name of the Warrant holder and the number of Warrants held by him/her. For each Grant of Warrants, the Company will provide the Warrant holder with a Warrant Certificate. 

 

	6.4	The Nomination– and Remuneration Committee of the Company can decide to replace or complement the Notice of Acceptance by a written Warrant agreement to be signed by the Warrantholder granted under this Scheme and
by the Company, which agreement will contain the conditions determined by the Nomination– and Remuneration Committee, in accordance with this Scheme. 

  

	6.5	The ownership of the Warrants accepted by the relevant Beneficiary will pass to the Beneficiary on the sixtieth (60th) day following the Date of Grant.

  
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	7	EXERCISE AND PAYMENT CONDITIONS 

  

	7.1	Exercise Term 

 A Warrant may not in any circumstances be exercised more than eight
(8) years after the Date of Grant, provided however that the Warrants can be exercised no later than the tenth anniversary of the date on which the Scheme is approved by the Directors. 

 

	7.2	Exercise Period  

 A Warrant may not be exercised earlier than the end of the
third calendar year following the one in which the Grant has been made. Between the commencement of the fourth calendar year following the one in which the Grant has been made and the fourth anniversary of the Grant maximum sixty percent
(60%) of the granted Warrants may be exercised during an Exercise Period. As of the fourth (4th) anniversary of the Grant all granted Warrants may be exercised without any restriction as
to the number of vested warrants during an Exercise Period. 
 The Directors will determine per quarter at least one Exercise Period of two
weeks. 
  

	7.3	Conditions of Exercise. 

 Separate Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant holder shall submit an Exercise Notice to the person designated, together with the Exercise Price,
to be deposited into a bank account opened in the name of the Company. The Warrant holder needs to mention the number of Warrants he/she desires to exercise on the Exercise Notice. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage. 
  

	7.4	Exercise of Warrants in accordance with Belgian law 

 In case a Warrant, that is
not exercisable or cannot be exercised in accordance with the exercise conditions (as specified in the Scheme), becomes prematurely exercisable pursuant to article 501 of the Belgian Code of
Companies2 and is also exercised pursuant to this article, the Shares issued upon exercise of the Warrants will be not transferable, except with the explicit prior consent of the Company, until
such time the Warrant would have become exercisable pursuant to this Scheme. 
  

 

	2 	See footnote 1. 

  
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	7.5	Model Code Restriction No Warrant shall be capable of being exercised where such exercise would be contrary to any applicable laws or regulations relating to securities including (if applicable) the Model Code.

  

	7.6	Material interest 

 A Warrant may not in any event be exercised at any time if the
Warrant holder then has, or has within the preceding 12 months had, a Material Interest in the Company or a company which has control of the Company or is a member of a consortium which owns such company. 

 

	8.	ISSUE OF NEW SHARES 

  

	8.1	The Company shall not be obliged to issue New Shares pursuant to the exercise of the Warrants unless all exercise conditions set forth in section 7 have been complied with. 

As soon as these conditions are complied with and in any event within 30 days of the date of exercise, New Shares will be issued, with due
consideration of the required administrative formalities. The Directors shall to this effect timely at a date to be determined by the Directors and at least once every quarter establish, before a notary public, that the capital of the Company is
increased. 
  

	8.2	The New Shares shall participate in the profit of the Company as of the first day of January of the year in which they have been issued. 

 

	8.3	In view of a rapid delivery of the Shares resulting from the exercise of Warrants, the Company can propose to the Warrant holders who complied with the exercise conditions to receive existing Shares awaiting the issue
of New Shares by notarial deed. In such case the Warrant holders will receive an advance of existing Shares subject to the conditions that they sign an authority by which the New Shares upon issue will immediately and directly be delivered to the
Company or to any other Party who provided the advance. 

  

	8.4	The Shares to be issued on the exercise of Warrants shall rank pari passu in all respects with the fully paid Shares in the Company then in issue . 

 

	8.5	The allotment or transfer of any Shares under this Scheme shall be subject to the articles of association of the Company and to any necessary consents of any governmental or other authorities under any enactments or
regulations from time to time in force. 

  

	8.6	If, at the time that any Shares are allotted on the exercise of a Warrant, any shares in the Company are dealt in on a market (including AIM) or have been admitted to the official list of the London Stock Exchange
and/or Euronext as the case may be, the Company shall use all reasonable endeavours to procure that such Shares may also be dealt in on the same market or (as the case may be) are admitted to the official list of the London Stock Exchange and/or
Euronext as the case may be. 

  
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	8.7	If any Warrant holder shall lose any Warrant Certificate the Company shall, as soon as reasonably practicable after its receipt of notice of such loss (together, if the Company requires, with an indemnification from the
Warrant holder in respect of any liability which the Company may incur as a consequence of such loss in such form as the Company may require) issue to such Warrant holder a duplicate of such Warrant Certificate and any reference in these Rules to an
Warrant Certificate shall include a reference to any such duplicate. 

  

	8.8	If a number of Warrants is exercised (or lapses) that does not represent the total number of Warrants held by that Warrant holder, the Company shall as soon as reasonably practicable after such an event issue (or
procure the issue) to the Warrant holder concerned a balancing Warrant Certificate evidencing the extent to which the Warrants remains unexercised. Any Warrant Certificate or (as the case may be) balancing Warrant Certificate previously issued in
respect of such Warrant shall be marked “Cancelled – Exercised in Part” and affixed to the relevant balancing Warrant Certificates. 

  

	8.9	The Directors have given proxy to two (2) directors of the Company or to the managing Director, with possibility of subdelegation, to establish by notarial deed the exercise of Warrants, the issue of the
corresponding number of Shares, the contribution in cash, the corresponding realization of the capital increase, the allocation of the difference between the Exercise Price and the par value of the Shares to an unavailable account “issue
premiums”, and the coordination of the articles of association of the Company with the new situation of the social capital. 

  

	8.10	The Company will take the necessary actions to have the New Shares listed for trading on a regulated market. 

  

	9.	CESSATION OF EMPLOYMENT OR OFFICE 

  

	9.1	Cessation of Employment or Directorship 

 In case of Cessation of Employment or
Directorship after the end of the third calendar year following the date of the Grant, the Beneficiary must exercise its not yet exercised Warrants within a three-month period as from the date of the cessation. 

In case of Cessation of Employment or Directorship prior to the end of the third calendar year following the year of the Grant, a part of the
granted Warrants shall become null and void as follows: 
  

	 	•	 	90% if Cessation occurs prior to the first anniversary of the Grant; 

  

	 	•	 	80% if Cessation occurs prior to the second anniversary of the Grant; 

  

	 	•	 	60% if Cessation occurs prior to the third anniversary of the Grant; 

  
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	 	•	 	40% if Cessation occurs following the third anniversary of the Grant but prior to the end of the third calendar year. 

The Warrants that do not become null and void are exercisable during a period of three months, starting as of the first day of the fourth
calendar year following the Grant, during an Exercise Period of two weeks to be determined by the Directors. Warrants that are not exercised within such period, will become null and void. 

 

	9.2	Death 

 In case of a Warrant holder dies, all Warrants acquired by such Warrant holder
pass to his/her Personal Representatives and must be exercised within three months, during an Exercise Period of two weeks to be determined by the Directors. Warrants that are not exercised within such period, will become null and void. 

 

	9.3	Retirement 

 Upon retirement of a Warrant holder, the Warrants must be exercised within
three months, during an Exercise Period of two weeks to be determined by the Directors. Warrants that are not exercised within such period, will become null and void. 
  

	9.4	Illness or disability 

 In case of termination of the employment agreement because of
long term injury or disability, the Warrants acquired by the Warrant holder must be exercised within three months, during an Exercise Period of two weeks to be determined by the Directors. Warrants that are not exercised within such period, will
become null and void. 
  

	10.	PROTECTIVE MEASURES 

 The Directors shall protect and safeguard the interests of the
Warrant holders in case of: 
  

	 	•	 	a fundamental change of control of the Company; 

  

	 	•	 	a fundamental change in the regulations; 

  

	 	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries. 

 Subject
to Rule 16, this Scheme may, if required by the circumstances, be modified by the board of Directors. The Beneficiary shall be informed of any such amendments and will be bound by them. The modifications may in no event affect the essential
provisions and/or Key Features of this Scheme. The amendments may not harm the rights of the existing Warrant holders. In the event the rights of the existing Warrant holders would be harmed, the amendments may not be made without their agreement.

  
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	11.	WARRANT TAX LIABILITY 

  

	11.1	The Warrant holder shall indemnify the Company and the Warrant holder’s Employer against any liability of any such person to account for any Warrant Tax Liability in respect of the exercise of Warrants and
acquisition of Shares under this Scheme. 

  

	11.2	If in any jurisdiction a Warrant Tax Liability arises then, unless either: 

  

	 	(a)	within the period of 30 days beginning with the date on which the Warrant is exercised, the Warrant holder’s Employer is able to withhold the amount of such liability from payment of the Warrant holder’s
remuneration; or 

  

	 	(b)	the Warrant holder has indicated (either in the Exercise Notice or in such other manner as the Company may specify) that he will make a payment to the Company of an amount equal to the Warrant Tax Liability and the
Warrant holder does, within 14 days of being notified by the Company of the amount of the Warrant Tax Liability, make such payment to the Company; or 

  

	 	(c)	the Warrant holder has authorised (in the Exercise Notice or in such other manner as the Company may specify) the Company, to the extent necessary, to reimburse the Warrant holder’s Employer, to sell (or have sold)
as agent for the Warrant holder (at the best price which can reasonably be expected to be obtained at the time of sale) a sufficient number of the New Shares, and to procure payment to the Warrant holder’s Employer out of the net proceeds of
sale of such New Shares (after deduction of all fees, duties, commissions and expenses incurred in relation to such sale) of monies sufficient to satisfy the indemnity mentioned in Rule 11.1, 

then the Company shall, to the extent necessary to reimburse the Warrant holder’s Employer, have the right to sell (or have sold) as agent
for the Warrant holder (at the best price which can reasonably be expected to be obtained at the time of sale) a sufficient number of the New Shares then acquired in pursuance of such Warrant, and to procure payment to the Warrant holder’s
Employer, out of the net proceeds of sale of such Shares (after deduction of all fees, duties, commissions and expenses incurred in relation to such sale), of moneys sufficient to satisfy the indemnity mentioned in Rule 11.1. 

 

	11.3	 In accepting the grant of a Warrant the Warrant holder shall, if required to do so by the Company, agree with and undertake to the Company and any
other company which is the Warrant holder’s Employer that the Warrant holder shall join with the Warrant holder’s Employer in making an election (in such terms and form, and subject to such approval by HM Revenue and Customs as provided in
paragraph 3B of Schedule 1 to the Social Security Contributions 

  
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and Benefits Act 1992) for the transfer to the Warrant holder of the whole, or such part as the Company may determine, of any liability of the Warrant holder’s Employer to secondary Class 1
NICs on any NIC Warrant Gain. 
  

	12	INDIVIDUAL LIMITS ON THE GRANTING OF WARRANTS 

  

	12.1	The number of New Shares in respect of which Warrants are granted to a Beneficiary shall be limited, and the Grant of Warrants shall take effect, so that the aggregate market value of New Shares which may be acquired
upon the exercise of those Warrants, when added to: 

  

	 	(a)	the aggregate market value of New Shares in respect of which Warrants have previously been granted (and have not then been exercised nor ceased to be exercisable) to the Warrant holder concerned; and 

 

	 	(b)	the aggregate market value of New Shares in respect of which rights to acquire such New Shares have been obtained by that Warrant holder under any other Warrant plan approved in accordance with either the CSOP Code or
Schedule 9 of the Taxes Act which has been established by the Company or by any Associated Company (and have not then been exercised nor ceased to be exercisable), 

shall not exceed or further exceed thirty thousand pounds (£30,000) or such other limit as may be prescribed under
paragraph 6(1) of Schedule 4 to the Act. 
  

	12.2	For the purposes of this Rule 12: 

  

	 	(a)	the market value of a New Share in respect of which a Warrant has been or is to be granted shall be taken as the Exercise Price payable upon the exercise of such Warrant or, if less, the minimum price per New Share
which could have been determined pursuant to Rule 5 to be the Exercise Price in relation to that Warrant; and 

  

	 	(b)	the market value of New Shares in respect of which other rights to acquire shares have been granted shall have the same meaning as in Part 8 of the Taxation of Chargeable Gains Act 1992 and shall be calculated as at the
time such other rights were granted or such earlier time as may have been agreed in writing with HM Revenue and Customs. 

  

	12.3	For the avoidance of doubt, any Grant of Warrants that results in exceeding the limit of thirty thousand pounds (£30,000) set forth in Rule 12.1 hereof, shall be a valid Grant, provided, however, that to the
extent such Grant exceeds such limit, the Grant (i) shall not benefit from the specific beneficial tax treatment that applies to schemes that are approved by the U.K.’s HM Revenue and Customs, and (ii) shall consequently be treated as
a “non-approved” Grant for taxation purposes. 

  
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	13	DEMERGER, RECONSTRUCTION OR WINDING-UP 

 Demerger 

 

	13.1	Subject to Rule 7.1, in the event that notice is given to shareholders of the Company of a proposed demerger of the Company or of any Subsidiary the Directors may give notice to Warrant holders that Warrants may then be
exercised in respect of all the Shares over which they subsist within such period (not exceeding 30 days) as the Directors may specify in such notice to Warrant holders SAVE THAT: 

 

	 	(a)	no such notice to Warrant holders shall be given unless the Auditors have confirmed in writing to the Directors that the interests of Warrant holders would or might be substantially prejudiced if before the proposed
demerger has effect Warrant holders could not exercise their Warrants and be registered as the holders of the Shares thereupon acquired; and 

  

	 	(b)	in the case of Warrants not granted by the Company, the Company consents to such exercise being permitted. 

Statutory reconstruction 
  

	13.2	Subject to Rule 7.1, if the Court sanctions a compromise or arrangement proposed for the purposes of or in connection with a scheme of reconstruction of the Company or its amalgamation pursuant to section 425 of the
Companies Act 1985 each Warrant holder shall be entitled to exercise his Warrant during the period of six months commencing on the date on which the Court sanctions the compromise or arrangement and if not so exercised the Warrant shall lapse and
cease to be exercisable on the expiry of such period of six months. 

 Winding-up 

 

	13.3	In the event of notice being given to holders of Shares of a resolution for the voluntary winding-up of the Company, a Warrant may, subject to rule 7.1, be exercised at any time before the commencement of the winding-up
and if not so exercised the Warrant shall lapse and cease to be exercisable on the commencement of the winding up. 

  

	13.4	All Warrants shall immediately lapse and cease to be exercisable upon the commencement of a winding-up of the Company. 

  

	14	TAKE-OVER 

  

	14.1	Subject to Rule 7.1, if, as a result of either: 

  

	 	(a)	a general offer to acquire the whole of the Ordinary Share Capital which is made on a conditional basis such that if the conditions are satisfied the person making the offer will have control of the Company; or

  
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	 	(b)	a general offer to acquire all the shares in the Company of the same class as the New Shares 

the Company shall come under the control of another person or persons, each Warrant holder shall be entitled to exercise his Warrant within the
period of six months of the date when the person making the offer has obtained control of the Company and any condition subject to which the offer is made has been satisfied or waived and to the extent that the Warrant is not then exercised it shall
upon the expiration of that period lapse and cease to be exercisable. 
  

	14.2	Subject to Rule 7.1, if at any time before a Warrant has lapsed any person becomes entitled or bound to acquire New Shares in the Company under sections 428 to 430F (inclusive) of the Companies Act 1985 each Warrant
holder shall be entitled to exercise his Warrant at any time when that person remains so entitled or bound and to the extent that the Warrant is not then exercised it shall upon the expiration of that period lapse and cease to be exercisable.

  

	14.3	For the purposes of this Rule 14 a person shall be deemed to have control of a company if he and others acting in concert with him have together obtained control of it. 

 

	14.4	For the avoidance of doubt, where the circumstances envisaged in any of Rules 14.1 and 14.2 arise at any one time and those respective Rules each indicate a different time by which Warrants may be exercised, the earlier
of those times shall apply (subject to Rule 14.5). 

  

	14.5	If any company (in this Rule referred to as ‘the acquiring company’): 

  

	 	(a)	obtains control of the Company as mentioned in Rule 14.1; or 

  

	 	(b)	obtains control of the Company in pursuance of a compromise or arrangement sanctioned by the court under section 425 of the Companies Act 1985; or 

 

	 	(c)	becomes bound or entitled to acquire Shares under sections 428 to 430F (inclusive) of the Companies Act 1985, 

a Warrant holder may, at any time within the appropriate period (as defined in Rule 14.6), by agreement with the acquiring company release his
rights under his Warrant in consideration of the grant to him of rights to acquire shares in the acquiring company or some other company falling within sub-paragraphs (b) or (c) of paragraph 16 of Schedule 4 to the Act (“a New
Warrant”) PROVIDED THAT: 
  

	 	(i)	such New Warrant will be exercisable only in accordance with the provisions of this Scheme as it had effect immediately before the release of his rights under his Warrant (read and construed as mentioned in Rule 14.7);
and 

  

	 	(ii)	the shares to which the new rights relate satisfy the provisions of paragraphs 16 to 20 of Schedule 4 to the Act; and 

  
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	 	(iii)	the total market value, immediately before such release, of the Shares in respect of which the Warrant then subsists is equal to the total market value, immediately after such grant, of the shares in respect of which
the New Warrant is granted to the Warrant holder; and 

  

	 	(iv)	the total amount payable by the Warrant holder for the acquisition of shares upon exercise of the New Warrant is equal to the total amount that would have been payable for the acquisition of Shares upon exercise of the
Warrant. 

  

	14.6	In Rule 14.5 “the appropriate period” means: 

  

	 	(a)	in a case falling within Rule 14.5(a), the period of six months beginning with the time when the person making the offer has obtained control of the Company and any condition or conditions subject to which the offer is
made has or have been satisfied or waived; 

  

	 	(b)	in a case falling within Rule 14.5(b), the period of six months beginning with the time when the court sanctions the compromise or arrangement; and 

 

	 	(c)	in a case falling within Rule 14.5(c), the period during which the acquiring company remains bound or entitled as mentioned in that paragraph. 

 

	14.7	For the purposes mentioned in Rule 14.5(i) the provisions of this Scheme shall be read and construed as if: 

  

	 	(a)	references to “the Company” in Rules 3, 7, 13, 14, 15 and 17 were references to the company in respect of whose shares the New Warrant is granted; 

 

	 	(d)	references to “Shares” in Rules 1, 7, 11, 13, 14 and 15 were references to such shares; 

  

	 	(e)	references to “Warrant” in Rules 3, 4, 7, 13, 14, 15, and 17 were references to such New Warrant; 

  

	 	(f)	references to “Warrantholder” in Rules 3, 4, 7, 13, 14, 15 and 17 were references to the persons to whom such New Warrant is granted; 

 

	 	(g)	references to “Ordinary Share Capital” in Rules 14 and 15 were references to the ordinary share capital (other than fixed rate preference shares) of such company; 

 

	 	(h)	references to “the Exercise Price” in Rules 7 and 15 were references to the price per share payable upon the exercise of such new rights; 

  
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	 	(i)	references to “the Directors” in Rules 13, 14, and 15 were references to the board of directors of the acquiring company. 

  

	14.8	New Warrants granted pursuant to Rule 14.5 shall be regarded for the purposes of the CSOP Code and for the purposes of the subsequent application of the provisions of this Scheme as having been granted on the Date of
Grant of the corresponding rights as mentioned in Rule 14.5. 

  

	15	VARIATION OF SHARE CAPITAL 

  

	15.1	In the event of any alteration of the Ordinary Share Capital by way of capitalisation or rights issue, or sub-division, consolidation or reduction or any other variation in the Share capital of the Company, the
Directors may make such adjustment as they consider appropriate: 

  

	 	(j)	to the aggregate number or amount of New Shares subject to any Warrant, and/or 

  

	 	(k)	to the Exercise Price payable for each New Share under any such Warrant, and/or 

  

	 	(l)	where a Warrant to subscribe for New Shares has been exercised but no New Shares have been allotted in accordance with Rule 8.4, to the number of Shares which may be so allotted and the Exercise Price payable for each
such Share 

 PROVIDED ALWAYS THAT: 
  

	 	(i)	no such adjustment is made unless and until HM Revenue and Customs have approved the adjustment and confirmed that the approved status of this Scheme will not be affected; and 

 

	 	(ii)	except in the case of a capitalisation issue, any such adjustment is confirmed in writing by the Auditors to be in their opinion fair and reasonable; and 

 

	 	(iii)	except in so far as the Directors (on behalf of the Company) agree to capitalise the Company’s reserves and apply the same at the time of exercise of the Warrant in paying up the difference between the Exercise
Price and the nominal value of the Shares, the Exercise Price in relation to any Warrant to subscribe for Shares is not reduced below the nominal value of a Share; and 

 

	 	(iv)	any such adjustment which is to be made to the terms of a Warrant granted by a person other than the Company shall not have effect unless it is approved by such person. 

  
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	15.2	As soon as reasonably practicable after any such adjustment has effect in relation to any Warrant the Directors (acting as agent for the Company) shall give notice in writing to the Warrant holder. 

 

	16	ALTERATION OF SCHEME 

  

	16.1	The Directors may at any time make any alteration to this Scheme in any respect PROVIDED THAT: 

  

	 	(m)	no such alteration in any Key Feature of this Scheme shall take effect unless and until HM Revenue and Customs have confirmed in writing that such alteration or addition shall not affect the approved status of this
Scheme; 

  

	 	(n)	if any shares of the same class in the Company are listed on the London Stock Exchange or Euronext or dealt in or traded on AIM, then except with the prior sanction of the Company in general meeting, no alteration shall
be made to Rules 1.1 (in respect of the definitions of Beneficiaries or Exercise Price), 2.1 to 2.3 (inclusive), 7.1, 7.2, 8.4, 8.5, 12, 13, 14 and 15; and 

  

	 	(o)	no such alteration shall take effect so as to affect the liabilities of any person other than the Company in relation to any Warrant granted by such person without the prior consent in writing of such person.

  

	16.2	The restrictions contained in Rule 16.1 shall not apply in respect of minor amendments to benefit the administration of the Scheme, to take account of a change in legislation or to obtain or maintain favourable tax,
exchange control or regulatory treatment for participants in the Scheme. 

  

	16.3	As soon as reasonably practicable after making any alteration under this Rule 16, the Directors shall give notice in writing thereof to any Warrant holder affected. 

 

	17	SERVICE OF DOCUMENTS 

  

	17.1	Any notice from any person to any Beneficiary or Warrant holder or any other person under the Scheme shall be addressed to him at his address last known to the Company or a Subsidiary, or handed to him personally and
where sent by post shall be deemed to have been given on the day following that on which it was posted. 

  

	17.2	Any notice or document so sent to an Beneficiary and/or Warrant holder shall be deemed to have been duly given notwithstanding that such person is then deceased (and whether or not the Company or a Subsidiary has notice
of his death) except where his Personal Representatives have established their title to the satisfaction of the Company and supplied to the Company an alternative address to which documents are to be sent. 

 

	17.3	 Any notice given by an Beneficiary or an Warrant holder to the Company under the Scheme shall be in writing addressed to the Secretary of the

  
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 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

 
Company at its registered office or to such other person or body and/or at such other address in the United Kingdom as the Directors may from time to time notify for the purpose, and shall be
effective only upon actual receipt by the Company or such other person or body notified as aforesaid. 
  

	18	MISCELLANEOUS 

  

	18.1	The Directors may from time to time make and vary such rules and regulations not inconsistent herewith and establish such procedures for the administration and implementation of this Scheme as they think fit and in the
event of any dispute or disagreement as to the interpretation of this Scheme or of any such rules, regulations or procedures or as to any question or right arising from or related to this Scheme, the decision of the Directors shall (except as
regards any matter required to be determined by the Auditors hereunder) be final and binding upon all persons. 

  

	18.2	In any matter in which they are required to act hereunder, the Auditors shall be deemed to be acting as experts and not as arbitrators and the Arbitration Act 1996 shall not apply hereto. 

 

	18.3	Save as otherwise expressly provided for in these Rules, the costs of the administration and implementation of this Scheme shall be borne by the Company. The Company is responsible for the management and the
administration of the Scheme and for correctly and rapidly answering all questions of the Beneficiaries or Warrant holders. 

  

	18.4	Warrant holders shall be entitled to receive copies of any documents sent to holders of Shares and shall have the right to attend general meetings of the Company but only in an advisory role and not with voting power.

  

	18.5	The Directors may at any time resolve to terminate the Scheme in which event no further Warrants shall be granted, save for any New Warrant granted in accordance with Rule 14.5 but the provisions of the Scheme shall
continue in full force and effect in relation to Warrants then subsisting (or subsequently granted as aforesaid). 

  

	19	PROTECTION OF PERSONAL DATA 

 By accepting the grant of an Warrant, the Warrant holder
shall agree and consent to: 
  

	 	(p)	the collection, use and processing by the Company and any member of the Group of Personal Data relating to the Warrant holder, for all purposes reasonably connected with the administration of this Scheme and the
subsequent registration of the Warrant holder or any other person as a holder of Shares acquired pursuant to the exercise of an Warrant; 

  

	 	(q)	the Company and any member of the Group transferring Personal Data to or between any of such persons for all purposes reasonably connected with the administration of the Scheme; 

  
 23 

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

	 	(r)	the use of such Personal Data by any such person for such purposes; and 

  

	 	(s)	the transfer to and retention of such Personal Data by any third party for such purposes. 

  
 24 

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

 APPENDIX A 

WARRANT CERTIFICATE 

THE GALAPAGOS NV WARRANT PLAN 2006 UK 

This document is important and should be retained in a safe place pending exercise of the Warrants herein referred to. 

 

			
	Full name(s) of Warrant holder:	 	  

		
	Address of Warrant holder:	 	  

		
		 	  

		
		 	  

		
	Date of Grant:	 	  

		
	Number of New Shares:	 	  

		
	Exercise Price:	 	  

		
	First date for exercise of Warrants:	 	  
 [NB:
3 years from date of grant]

		
	Last date for exercise of Warrants:	 	  

[NB: no later than 8 years from date of grant or, if earlier, the tenth anniversary of the date of approval of the Scheme by the
Directors]

 GALAPAGOS NV (“the Company”) HEREBY GRANTS to you, the Warrant holder named above,
[                    ] Warrants to acquire the above number of New Shares in the Company at the above Exercise Price. 

The Warrants are exercisable subject to and in accordance with the rules of The GALAPAGOS NV Warrant Plan 2006 UK as amended from time to time and the
Memorandum and Articles of Association of the Company. 
 In accordance with Rule 7.1, this Warrant may not in any event be exercised later than the eight
anniversary of the Date of Grant shown above. 
 These Warrants are not transferable but may be capable of exercise by the Warrant holder’s Personal
Representatives in the event of the Warrant holder’s death. 
 It is a condition of exercise of these Warrants that the Warrant holder agrees to
indemnify the Company and the Warrant holder’s Employer against any liability of any such person to account for any Warrant Tax Liability. If an Warrant Tax Liability arises following the exercise of Warrants or the acquisition of Shares and,
within 30 days, the appropriate 

  
 25 

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

 
amount cannot be withheld from payment of the Warrant holder’s remuneration or the Company has not received payment of such amount in accordance with the Rules, the Company shall, to the
extent necessary to reimburse the Employer of the Warrant holder, be entitled to sell sufficient of the Shares acquired in pursuance of these Warrants and to procure payment to the Employer of the Warrant holder, out of the net proceeds of sale of
such Shares, of moneys sufficient to satisfy such indemnity. 
 In the case of Employer of the Warrantholder’s NICs arising on gains made on the
acquisition of Shares pursuant to the Warrant, the Warrant holder shall, if at any time before the first date of exercise of this Warrant the Company so directs, make a joint election (in a form approved by HM Revenue and Customs) with the Employer
of the Warrant holder for liability to Employer of the Warrantholder’s NICs arising upon the exercise of, or the acquisition of Shares in pursuance of, these Warrants to be transferred to him or her. 

The Warrants are personal to the Warrant holder and may not be transferred, assigned or charged to any other person and any purported transfer, assignment or
charging will cause the Warrants to lapse. 
 Words and phrases used in this Warrant Certificate shall have the meanings they bear for the purposes of the
Scheme. 
 EXECUTED as a deed by GALAPAGOS NV acting by: 
  

			
	  
	  	Director
		
	  
	  	Director/Secretary

 Date: 

  
 26 

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

 APPENDIX B 

NOTICE OF ACCEPTANCE 

THE GALAPAGOS NV WARRANT PLAN 2006 UK 

To: GALAPAGOS NV (the “Company”) 
  

	1	I HEREBY AGREE to accept the grant of Warrants over              Shares on
                     (date) (“my Warrant”) and agree and undertake to be bound by the terms and conditions set out in the
rules of The GALAPAGOS NV Warrant Plan 2006 UK (“the Scheme”). 

  

	2	I hereby agree to indemnify the Company and my Employer in respect of any liability of any such person to account for any Warrant Tax Liability in respect of the exercise of Warrants and allotment of Shares under the
Scheme. 

  

	3	I understand and agree that, if an Warrant Tax Liability arises following the exercise of Warrants or the acquisition of New Shares, then unless either: 

 

	 	(a)	my Employer is able to withhold the amount of such Warrant Tax Liability from payment of my remuneration, within the period of 30 days from the date of the Warrant exercise; or 

 

	 	(b)	I have indicated in writing to my Employer either in the Exercise Notice or in a manner agreed with the “Company”, that I will make a payment of an amount equal to the Warrant Tax Liability and do in fact make
such a payment, within 14 days of being notified by the Company of the amount of such Warrant Tax Liability; or 

  

	 	(c)	I have authorised the Company (either in the Exercise Notice or in a manner agreed with the Company) to sell sufficient of the shares acquired in pursuance of these Warrants and to procure payment to my Employer out of
the net proceeds of sale of such shares of monies sufficient to satisfy such indemnity, 

 the Company shall, to the extent
necessary to reimburse my Employer, be entitled to sell sufficient of the Shares acquired in pursuance of these Warrants to procure payment to my Employer, out of the net proceeds of sale of such Shares, of moneys sufficient to satisfy such
indemnity. 
  

	4	I hereby agree with and undertake to the Company and any other company which is my Employer that my Employer may recover from me, as mentioned in Rule 11.3, the whole or any part of any Employer’s NICs payable in
respect of any NIC Warrant Gain. 

  

	5	I hereby agree and undertake that I shall, if and when so requested by the Company before this Warrant is first exercised, make a joint election with my Employer (in a form satisfactory to the Company and HM Revenue and
Customs) for any liability of my Employer to employers’ NICs payable in respect of any NIC Warrant Gain, to be transferred to me (“an NIC Election”). 

  
 27 

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

	6	I hereby appoint the Company Secretary or any director of the Company to be my lawful attorney during the period ending with the first date on which this Warrants are exercised, for the purpose of executing, in my name
and on my behalf, an NIC Election. This power of attorney is given by way of security for the performance of my obligation to make an NIC Election and is irrevocable in accordance with section 4 of the Powers of Attorney Act 1971. 

 

	7	I hereby authorise and agree that: 

  

	 	(a)	my Employer and any other member of the Group may disclose to any other member of the Group, the Company, and to any administrator of this Scheme all such Personal Data relating to me and to my participation in the
Scheme as shall, in the opinion of the Directors, be necessary to facilitate the operation and administration of the Scheme and to enable any such administrator to discharge all its duties and functions in relation to the operation of the Scheme;

  

	 	(b)	any such persons may transfer such Personal Data amongst themselves for the purposes of administering the Scheme; 

  

	 	(c)	any such person may process and use such Personal Data for any such purposes; and 

  

	 	(d)	such Personal Data may be transferred to and by any third party for such purposes. 

  

	8	Words and phrases used in this Notice of Acceptance shall have the meanings they bear for the purposes of the Scheme. 

  

			
	EXECUTED as a deed by	 	)
	[                     ]	 	)
	in the presence of:	 	)

  

			
	Witness signature:	 	  

		
	Witness name (print):	 	  

		
	Address:	 	  

		
	Occupation:	 	  

		
	Date:	 	  

 THIS FORM MUST BE RECEIVED BY [            ] BY
                     OTHERWISE THE GRANT OF WARRANTS WILL BE DEEMED TO HAVE LAPSED. 

  
 28 

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

 APPENDIX C 

EXERCISE NOTICE 
 THE
GALAPAGOS NV WARRANT PLAN 2006 UK 
 To: The [Company Secretary], GALAPAGOS NV [or Company] 

NOTE: The tax consequences of exercising your Warrants may vary according to the time of exercise and your residency for tax purposes at the time of exercise.
You are therefore advised to consult your professional advisers BEFORE exercising your Warrants. 
 I hereby exercise the Warrants referred to in the
enclosed Warrant Certificate in respect of [all/    ,        *] of the Shares over which the Warrants subsist, and request the allotment or transfer to me of those New Shares
in accordance with the rules of the Scheme and the Memorandum and Articles of Association of the Company. 
 I enclose a cheque made payable to GALAPAGOS
NV/                      [name of Company or other appropriate person] in the sum of £        
being the aggregate Exercise Price of such Shares [or wire payment]. 
 PAYMENT OF WARRANT TAX LIABILITY 

I understand that, as a result of the exercise of the Warrant, an Warrant Tax Liability may arise which I am required to satisfy. I wish to meet this Warrant
Tax Liability by: 
  

	 ̈	authorising the Company or my Employer to deduct the necessary amount from my next salary payment under the PAYE procedure 

  

	 ̈	paying the Company such amount as is necessary to cover the Warrant Tax Liability within 14 days of my receiving details of that Warrant Tax Liability from the Company 

 

	 ̈	agreeing to the Company selling sufficient of my Warrant Shares so that the net proceeds of sale will cover the Warrant Tax Liability 

Please tick the box for your preferred payment method. If you do not tick any boxes the Company will first seek to withhold an amount sufficient to cover
the Warrant Tax Liability from your next salary payment, and if the Warrant Tax Liability cannot then be satisfied in full, the Company will sell sufficient of your Shares to meet that liability. 

 

			
	 Full Name(s) of Warrant holder
 (block signature
letters)
	 	  
  

		
	Address:	 	  

		
		 	  

		
	Date:	 	  

  
 29 

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

 [OR 
 [TO BE
COMPLETED ONLY IF NOTICE IS GIVEN BY PERSONAL REPRESENTATIVE OF DECEASED WARRANT HOLDER] 
 [I/WE am/are the personal representative(s) of the above-named
deceased Warrant holder [Note (2)] 
  

					
	Full Name(s) of Personal	 		 	
	Representative(s)	 	  
	 	
		 	  
	 	
			
	Address(es)	 	  
	 	
		 	  
	 	
		 	  
	 	
			
	Signature(s)	 	  
	 	
	of	 	  
	 	
	Personal Representative(s)	 	  
	 	]

 NOTES: 
  

	1	This form must be accompanied by payment of the Exercise Price for the Shares in respect of which the Warrant is exercised. 

  

	2	Where the Warrant is exercised by personal representatives, an office copy of the Probate or Letters of Administration should accompany the form. 

 

	3	The Scheme has been approved by the HM Revenue and Customs in accordance with section 521 and Schedule 4 of the Act. There is no charge to income tax on the receipt of a right to acquire Shares under such a scheme.
Under current tax rules no charge to tax will arise on the exercise of the Warrant if it is exercised: 

  

	 	(a)	in accordance with the rules of the Scheme (as amended from time to time with the consent of HM Revenue and Customs) at a time when the Scheme is approved by the HM Revenue and Customs; and 

 

	 	(b)	more than three years after the date of grant or, if earlier, upon the death of the Warrant holder or within 12 weeks of leaving employment within the Group by reason of injury, disability, redundancy or retirement on
or after age 55. 

  

	4	Provided a Warrant is exercised within these statutory time-limits no charge to income tax will arise on any subsequent growth in value of the Shares acquired. 

  
 30 

 GALAPAGOS NV, WARRANT PLAN 2006 UK 

 

	5	Under current tax rules, a charge to income tax and NICs will arise if these Warrants are exercised less than 3 years after the date of grant otherwise than on the death of the Warrant holder or within 6 months of the
Warrant holder ceasing employment by reason of injury, disability, redundancy or retirement on or after age 55. It is a term of the exercise of the Warrants that the Warrant holder will be required to enter into arrangements satisfactory to the
Company to ensure that any such Warrant Tax Liability (including any liability to employer’s secondary class I NICs) will be borne by, and recovered from, him or her. 

 

	6	IMPORTANT. Neither the Company nor the Employer of the Warrantholder undertake to advise the Warrant holder on the tax consequences of exercising Warrants. If the Warrant holder is unsure of the tax liabilities that
may arise, the Warrant holder should take appropriate professional advice before exercising his Warrants. 

  

	7	A Warrant holder, whether or not a director of any company, shall not be entitled to exercise an Warrant at any time when to do so would contravene the provisions of the Company’s Code governing share dealings by
directors and employees. 

  
 31 

			
	Free translation for information purposes	  	

  

 WARRANTPLAN 2007 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

			
	 Galapagos NV, Warrant Plan 2007
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 TABLE OF CONTENTS 

 

							
	1.	  	Base and Purpose	  	 	3	  
			
	2.	  	Definitions	  	 	3	  
			
	3.	  	Warrants	  	 	5	  
		
	 •     General
	  	 	5	  
	 •     Number per beneficiary
	  	 	5	  
	 •     Transfer restrictions
	  	 	5	  
	 •     Exercise price
	  	 	5	  
			
	4.	  	Beneficiaries of the Plan	  	 	6	  
			
	5.	  	Acceptance or Refusal of the Offer	  	 	6	  
			
	6.	  	Exercise and Payment Conditions	  	 	7	  
		
	 •     Exercise Term
	  	 	7	  
	 •     Exercise Period
	  	 	7	  
	 •     Conditions of Exercise
	  	 	7	  
	 •     Exercise of Warrants in accordance with the Code of Companies
	  	 	7	  
			
	7.	  	Issue of the Shares	  	 	8	  
			
	8.	  	Cessation of the Employment or Service Relationship	  	 	8	  
		
	 •     Cessation of Employment or Service Relationship
	  	 	8	  
	 •     Decease
	  	 	9	  
	 •     Retirement
	  	 	9	  
	 •     Sickness or disability
	  	 	9	  
	 •     Deviations
	  	 	9	  
			
	9.	  	Protective measures	  	 	9	  
			
	10.	  	Dispute Resolution	  	 	9	  
			
	11.	  	Closing Provisions	  	 	10	  

  

			
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	1.	BASE AND PURPOSE 

 The Board of Directors of
GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2007 by resolution of 28 June 2007. 
 With the
Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub section 2 Definitions: “Beneficiary” and sub 4 Beneficiaries of the Plan) of the conditions under which it is willing to offer Warrants. The Company thus
wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 
  

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the
meanings given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: in principle all Employees and Consultants of the Company and its Subsidiaries. The possibility to acquire Warrants may be granted by the
Board of Directors in secondary order and on an individual basis to other persons who contributed to the Company or its Subsidiaries in the performance of their professional activities; 

Director: a natural person or legal entity who at any moment during the existence of the Company exercises a director’s mandate to which they were
appointed by either the Shareholders’ Meeting or the Board of Directors by way of cooptation; 
 Consultant: a natural or legal person who on a
contractual base provides services to the Company or a Subsidiary, but who is not a Employee (irrespective whether the contract was entered into directly with the relevant natural or legal person - or in case of a natural person – with a legal
person who has entrusted the performance of the services to such natural person); 
 Control: the competence de jure or de facto to
have a decisive influence on the appointment of the majority of the Directors or on the orientation of the management, as determined in article 5 et seq. of the Code of Companies; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan; 

Subsidiary: a company under the Control of the Company, as set forth in article 6 of the Code of Companies; 

Cessation of the Employment agreement: the effective date of the cessation for whatever reason of the Employment agreement between the relevant
Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Director,
Consultant or Employee, with the Company or a Subsidiary; 

  

			
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 Cessation of the Consultancy agreement: the effective date of the cessation for whatever reason of the
Consultancy agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company
controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 
 Cessation of the Director’s Mandate:
the effective date of the cessation for whatever reason of the director’s mandate exercised by the relevant Participant-Director with either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous (other) employment or
appointment of the relevant Participant (or a company Controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

New Shares: the shares of the Company to be issued pursuant to the exercise of the Warrants under this Plan; 

Plan: the present Warrant Plan 2007 approved by the Board of Directors of 28 June 2007, as amended from time to time by the Board of
Directors in accordance with the provisions of this Plan; 
 Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer; 
 Exercise: to make use of the right attached to the Warrants that were acquired by accepting the Offer, to acquire
New Shares at the Exercise Price; 
 Exercise Price: the pre-determined price at which a New Share can be acquired when Exercising a Warrant,
during one of the Exercise Periods within the Exercise term; 
 Exercise Term: the term in which the Beneficiary can exercise his Warrants to acquire
Shares in the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in section 6 of this Plan; 

Exercise Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can be Exercised;

 Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen; 

Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term and the Exercise Period and at the
Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract; 

Words and terms denoting the plural shall include the singular and vice versa. 

  

			
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	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is maximum 404,560. These Warrants will be designated as “Warrants 2007”. The detail of
the number of Warrants per Beneficiary, offered under this Plan, is explained in Annex A to this Plan. 
 The Warrants are granted by the Company to the
Beneficiaries for free. 
 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

The Board of Directors may delegate the authorisation to make an Offer to the Nomination and Remuneration Committee of the Company. 

Offers under this Plan do not need to be the same for every Beneficiary. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiaries will be determined by the Board of Directors and, as regards the Directors, by the general shareholders’ meeting of the Company. 

Transfer restrictions 
 The Warrants received are
registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 
 The Warrant cannot be encumbered
by any pledge or in any other manner. 
 Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null
and void. 
 Exercise Price 
 The Board of Directors
shall determine the Exercise Price per Warrant at the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the
date of the Offer and as the Board of Directors wishes to have the same Exercise Price for all Beneficiaries, the Exercise Price of the Warrants will, for all Beneficiaries, at least be equal to the average of the closing price during the last
thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than EUR 5.43, i.e. the fractional value (rounded up to the higher eurocent) of the Shares at the date of the issuance of the Warrants.

 Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital for an amount equal to the fractional value of the Shares at
the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be recorded as an issuance premium. 

In deviation of article 501 of the Code of Companies and without prejudice to the exceptions provided by law, the Company, represented by the Board of
Directors, expressly reserves the right to take any possible decisions and to carry out any transactions which might have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that may otherwise affect the
rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that these decisions might cause a
reduction of the advantages offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be to reduce such advantages. 

  

			
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 Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder
shall not be entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make
modifications to (i) the number of shares that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder.

 In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be
adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company is
responsible for the management and the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4.	BENEFICIARIES OF THE PLAN 

Beneficiaries are the individuals as indicated in section 2 (“Definitions – Beneficiaries”). 

Employees, whose employment contract with the Company or a Subsidiary mentioned in the list is temporarily suspended because of a foreign assignment
(“expatriates”), may also be designated as Beneficiary. 
 The Board of Directors is free to designate or exclude other persons as Beneficiary.

 The Warrants under this Plan are in majority reserved for and granted to Employees. The Board of Directors will ensure that the number of Beneficiaries
consists in minority of Directors and Consultants and in majority of Employees. The Board of Directors will also ensure that a majority of the issued Warrants will be reserved for and granted to Employees. 

 

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Acceptance Letter needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. 
 In case the Beneficiary has not
accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the Offer. 
 The Warrants are
registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the
identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will receive a confirmation of the number of Warrants he has accepted. 

The Nomination- and Remuneration Committee may decide to replace or complete the Notice of Acceptance by or with a written Warrant agreement to be signed by
the Participant and the Company and which shall contain the conditions determined by the Nomination- and Remuneration Committee, in accordance with this Plan. 

  

			
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 The Beneficiary who has accepted the Warrants will receive the Warrants as soon as these have been issued by
notary deed establishing the acceptance. 
  

	6.	EXERCISE- AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is eight (8) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised prior the end of the third calendar year following the calendar year in which the Offer has been made. 

Between the commencement of the fourth calendar year following the year in which the Offer has been made and the fourth anniversary of the Offer maximum 60%
of the granted Warrants may be exercised during an Exercise Period. 
 As of the fourth anniversary of the Offer all granted Warrants may be exercised
without any restriction as to the number of vested warrants. 
 The Board of Directors will establish at least one Exercise Period of two weeks per
semester. 
 The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed
periods during which the Warrants cannot be exercised. 
 Conditions of Exercise 

Individual Warrants can only be exercised as a whole. 
 In order
to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board of Directors or to an authorized person designated by the Board of Directors, and needs at the same time to pay the
Exercise Price into a bank account designated by the Company and opened in the name of the Company. 
 On the exercise form, the Warrant Holder needs to
mention the number of Warrants he desires to exercise. 
 In case the bank account is not or not sufficiently credited prior to the end of the Exercise
Period, the Warrants will be deemed not to be exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants
will consequently not be lost and remain exercisable at a later stage. 
 Exercise of the Warrants in accordance with the Code of Companies 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Board of Directors, until such time the Warrant would have become exercisable in accordance with the Plan. 

  

			
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	7.	ISSUE OF THE NEW SHARES 

The Company shall only be obliged to issue New Shares pursuant to the Exercise if all exercise conditions set forth in section 6 have been complied with. 

As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the shares resulting from the exercise of Warrants, the Company may propose to the Participants who have
complied with the Exercise conditions to receive existing shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing shares subject to the condition that they sign an authorization by
which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who advanced them the existing shares. 

The Board of Directors has granted power of attorney to two members of the Board of Directors or to the managing Director, with possibility of sub-delegation,
to take care of the establishment by notary deed of the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the
allocation to the unavailable account “issuance premiums” of the difference between the subscription price for the shares and the fractional value, to bring the Articles of Association in accordance with the new situation of the social
capital, to sign and deliver the relevant CIK deposit certificate, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of the Warrants) to the beneficiaries. 

The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been issued. The Company has
not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE EMPLOYMENT- OR SERVICE RELATIONSHIP 

Cessation of the employment- or service relationship 
 In
case of Cessation of the Employment agreement, Cessation of the Consultancy agreement or Cessation of the Director’s Mandate after the end of the third calendar year following the date of the Offer, the Beneficiary must exercise his not yet
exercised Warrants within a six (6) month period as from the date on which he leaves employment or is otherwise not longer involved in the activities of the Company. 

If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following the date of
the Offer, a part of the granted Warrants shall automatically become null and void as follows: 
  

	•	 	90 % in case the Cessation is situated prior to the first anniversary of the Offer; 

  

	•	 	80 % in case the Cessation is situated prior to the second anniversary of the Offer; 

  

	•	 	60 % in case the Cessation is situated prior to the third anniversary of the Offer; 

  

	•	 	40 % in case the Cessation is situated after the third anniversary of the Offer, but prior to the end of the third calendar year. 

  

			
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 If Cessation of the Director’s Mandate occurs prior to the third anniversary of the Offer, but without
prejudice to a dissident decision of the Board of Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants shall automatically become null and void as follows: 

 

	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Offer. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first day of the fourth
calendar year following the year of the Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 
 Decease 

In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised
within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 Sickness or Disability 

In case of cessation of the employment agreement as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Deviations 
 The Board of Directors may at its discretion
decide to deviate at any time from the provisions set forth in this section 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take
appropriate measures to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change of control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan will,
if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the
rights of the existing Warrant Holders. In the event the rights of the existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 
  

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will
be brought to the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the area of Mechelen (Belgium) whereby
all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 

  

			
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	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and possible amendments thereof. 

Taxes and Social Security Treatment 
 The Company or a
Subsidiary shall be entitled, in accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other
following month, and/or the Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the
grant, the fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as a result of
grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
 Costs 

Stamp duties, stock exchange taxes and similar charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares
or existing shares shall be borne by the Warrant Holder. 
 Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the
Company. 
 Relationship with the employment agreement, consultancy agreement or director’s mandate 

No person has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary a right to have additional Warrants granted to
him later. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or Subsidiaries. 
 Notwithstanding
any provision of the Plan, the rights and obligations of any individual or entity resulting from his/her employment agreement or consultancy agreement or director’s mandate concluded with the Company or a Subsidiary shall not be affected by
his/her participation in the Plan or by any right that he/she may have to participate therein. 
 An individual to whom Warrants are granted in accordance
with the Plan shall not be entitled to any damages or compensation as a result of the cessation of his mandate, employment agreement or consultancy agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these
rights would arise or might arise based on the cessation of the rights he/she might have or the claims he/she could make concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss
or decrease in value of the rights or benefits. 
 *** 

  

			
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 WARRANTPLAN 2007 RMV 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

			
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 TABLE OF CONTENTS 

 

							
	 1.
	 	 Base and Purpose
	  	 	3	  
			
	 2.
	 	 Definitions
	  	 	3	  
			
	 3.
	 	 Warrants
	  	 	5	  
		
	 •     General
	  	 	5	  
	 •     Number per beneficiary
	  	 	5	  
	 •     Transfer restrictions
	  	 	5	  
	 •     Exercise price
	  	 	5	  
			
	 4.
	 	 Beneficiaries of the Plan
	  	 	6	  
			
	 5.
	 	 Acceptance or Refusal of the Offer
	  	 	6	  
			
	 6.
	 	 Exercise and Payment Conditions
	  	 	7	  
		
	 •     Exercise Term
	  	 	7	  
	 •     Exercise Period
	  	 	7	  
	 •     Conditions of Exercise
	  	 	7	  
	 •     Exercise of Warrants in accordance with the Law
	  	 	7	  
			
	 7.
	 	 Issue of the Shares
	  	 	8	  
			
	 8.
	 	 Cessation of the Employment or Service Relationship
	  	 	8	  
		
	 •     Cessation of Employment or Service Relationship
	  	 	8	  
	 •     Decease
	  	 	9	  
	 •     Retirement
	  	 	9	  
	 •     Sickness or disability
	  	 	9	  
	 •     Deviations
	  	 	9	  
			
	 9.
	 	 Protective measures
	  	 	9	  
			
	 10.
	 	 Dispute Resolution
	  	 	9	  
			
	 11.
	 	 Closing Provisions
	  	 	10	  

  

			
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	1.	BASE AND PURPOSE 

 The Board of Directors of
GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2007 RMV by resolution of 25 October 2007. 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub section 2 Definitions: “Beneficiary” and sub 4
Beneficiaries of the Plan) of the conditions under which it is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the
meanings given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: in principle all Employees and Consultants of the Company and its Subsidiaries. The possibility to acquire Warrants may be granted by the
Board of Directors in secondary order and on an individual basis to other persons who contributed to the Company or its Subsidiaries in the performance of their professional activities; 

Director: a natural person or legal entity who at any moment during the existence of the Company exercises a director’s mandate to which they were
appointed by either the Shareholders’ Meeting or the Board of Directors by way of cooptation; 
 Consultant: a natural or legal person who on a
contractual base provides services to the Company or a Subsidiary, but who is not a Employee (irrespective whether the contract was entered into directly with the relevant natural or legal person - or in case of a natural person – with a legal
person who has entrusted the performance of the services to such natural person); 
 Control: the competence de jure or de facto to
have a decisive influence on the appointment of the majority of the Directors or on the orientation of the management, as determined in article 5 et seq. of the Code of Companies; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan; 

Subsidiary: a company under the Control of the Company, as set forth in article 6 of the Code of Companies; 

Cessation of the Employment agreement: the effective date of the cessation for whatever reason of the Employment agreement between the relevant
Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Director,
Consultant or Employee, with the Company or a Subsidiary; 

  

			
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 Cessation of the Consultancy agreement: the effective date of the cessation for whatever reason of the
Consultancy agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company
controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 
 Cessation of the Director’s Mandate:
the effective date of the cessation for whatever reason of the director’s mandate exercised by the relevant Participant-Director with either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous (other) employment or
appointment of the relevant Participant (or a company Controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

New Shares: the shares of the Company to be issued pursuant to the exercise of the Warrants under this Plan; 

Plan: the present Warrant Plan 2007 RMV approved by the Board of Directors of 25 October 2007, as amended from time to time by the Board of
Directors in accordance with the provisions of this Plan; 
 Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer; 
 Exercise: to make use of the right attached to the Warrants that were acquired by accepting the Offer, to acquire
New Shares at the Exercise Price; 
 Exercise Price: the pre-determined price at which a New Share can be acquired when Exercising a Warrant, during
one of the Exercise Periods within the Exercise term; 
 Exercise Term: the term in which the Beneficiary can exercise his Warrants to acquire
Shares in the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in section 6 of this Plan; 

Exercise Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can be Exercised;

 Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen; 

Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term and the Exercise Period and at the
Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract; 

Words and terms denoting the plural shall include the singular and vice versa. 

  

			
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	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is maximum 114,100. These Warrants will be designated as “Warrants 2007 RMV”. The detail
of the number of Warrants per Beneficiary, offered under this Plan, is explained in Annex A to this Plan. 
 The Warrants are granted by the Company to the
Beneficiaries for free. 
 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

The Board of Directors may delegate the authorisation to make an Offer to the Nomination and Remuneration Committee of the Company. 

Offers under this Plan do not need to be the same for every Beneficiary. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiaries will be determined by the Board of Directors and, as regards the Directors, by the general shareholders’ meeting of the Company. 

Transfer restrictions 
 The Warrants received are
registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 
 The Warrant cannot be encumbered
by any pledge or in any other manner. 
 Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null
and void. 
 Exercise Price 
 The Board of Directors
shall determine the Exercise Price per Warrant at the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the
date of the Offer, the Exercise Price of the Warrants will, at the election of the Board of Directors, at least be equal to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or
(b) the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than 5.43 euro, i.e. the fractional value (rounded up to
the higher eurocent) of the Shares at the date of the issuance of the Warrants. 
 Upon Exercise and subsequent capital increase the Exercise Price must be
booked as capital for an amount equal to the fractional value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be recorded as
an issuance premium. 
 In deviation of article 501 of the Code of Companies and without prejudice to the exceptions provided by law, the Company,
represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any transactions which might have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that
may otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that
these decisions might cause a reduction of the advantages offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be to reduce such advantages. 

  

			
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 Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder
shall not be entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make
modifications to (i) the number of shares that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder.

 In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be
adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company is
responsible for the management and the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4.	BENEFICIARIES OF THE PLAN 

Beneficiaries are the individuals as indicated in section 2 (“Definitions – Beneficiaries”). 

Employees, whose employment contract with the Company or a Subsidiary is temporarily suspended because of a foreign assignment (“expatriates”), may
also be designated as Beneficiary. 
 The Board of Directors is free to designate or exclude other persons as Beneficiary. 

The Warrants under this Plan are in majority reserved for and granted to Employees. The Board of Directors will ensure that the number of Beneficiaries
consists in minority of Directors and Consultants and in majority of Employees. The Board of Directors will also ensure that a majority of the issued Warrants will be reserved for and granted to Employees. 

 

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Acceptance Letter needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. 
 In case the Beneficiary has not
accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the Offer. 
 The Warrants are
registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the
identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will receive a confirmation of the number of Warrants he has accepted. 

The Nomination- and Remuneration Committee may decide to replace or complete the Notice of Acceptance by or with a written Warrant agreement to be signed by
the Participant and the Company and which shall contain the conditions determined by the Nomination- and Remuneration Committee, in accordance with this Plan. 

  

			
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 The Beneficiary who has accepted the Warrants will receive the Warrants as soon as these have been issued by
notary deed establishing the acceptance. 
  

	6.	EXERCISE- AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is eight (8) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised prior the end of the third calendar year following the calendar year in which the Offer has been made. 

Between the commencement of the fourth calendar year following the year in which the Offer has been made and the fourth anniversary of the Offer maximum 60%
of the granted Warrants may be exercised during an Exercise Period. 
 As of the fourth anniversary of the Offer all granted Warrants may be exercised
without any restriction as to the number of vested warrants. 
 The Board of Directors will establish at least one Exercise Period of two weeks per
semester. 
 The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed
periods during which the Warrants cannot be exercised. 
 Conditions of Exercise 

Individual Warrants can only be exercised as a whole. 
 In order
to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board of Directors or to an authorized person designated by the Board of Directors, and needs at the same time to pay the
Exercise Price into a bank account designated by the Company and opened in the name of the Company. 
 On the exercise form, the Warrant Holder needs to
mention the number of Warrants he desires to exercise. 
 In case the bank account is not or not sufficiently credited prior to the end of the Exercise
Period, the Warrants will be deemed not to be exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants
will consequently not be lost and remain exercisable at a later stage. 
 Exercise of the Warrants in accordance with the Code of Companies 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Board of Directors, until such time the Warrant would have become exercisable in accordance with the Plan. 

  

			
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	7.	ISSUE OF THE NEW SHARES 

The Company shall only be obliged to issue New Shares pursuant to the Exercise if all exercise conditions set forth in section 6 have been complied with. 

As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the shares resulting from the exercise of Warrants, the Company may propose to the Participants who have
complied with the Exercise conditions to receive existing shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing shares subject to the condition that they sign an authorization by
which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who advanced them the existing shares. 

The Board of Directors has granted power of attorney to two members of the Board of Directors or to the managing Director, with possibility of sub-delegation,
to take care of the establishment by notary deed of the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the
allocation to the unavailable account “issuance premiums” of the difference between the subscription price for the shares and the fractional value, to bring the Articles of Association in accordance with the new situation of the social
capital, to sign and deliver the relevant CIK deposit certificate, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of the Warrants) to the beneficiaries. 

The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been issued. The Company has
not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE EMPLOYMENT- OR SERVICE RELATIONSHIP 

Cessation of the employment- or service relationship 
 In
case of Cessation of the Employment agreement, Cessation of the Consultancy agreement or Cessation of the Director’s Mandate after the end of the third calendar year following the date of the Offer, the Beneficiary must exercise his not yet
exercised Warrants within a six (6) month period as from the date on which he leaves employment or is otherwise not longer involved in the activities of the Company. 

If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following the date of
the Offer, a part of the granted Warrants shall automatically become null and void as follows: 
  

	•	 	90 % in case the Cessation is situated prior to the first anniversary of the Offer; 

  

	•	 	80 % in case the Cessation is situated prior to the second anniversary of the Offer; 

  

	•	 	60 % in case the Cessation is situated prior to the third anniversary of the Offer; 

  

	•	 	40 % in case the Cessation is situated after the third anniversary of the Offer, but prior to the end of the third calendar year. 

  

			
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 If Cessation of the Director’s Mandate occurs prior to the third anniversary of the Offer, but without
prejudice to a dissident decision of the Board of Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants shall automatically become null and void as follows: 

 

	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Offer. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first day of the fourth
calendar year following the year of the Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 
 Decease 

In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised
within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 Sickness or Disability 

In case of cessation of the employment agreement as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Deviations 
 The Board of Directors may at its discretion
decide to deviate at any time from the provisions set forth in this section 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take
appropriate measures to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change of control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan will,
if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the
rights of the existing Warrant Holders. In the event the rights of the existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 
  

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will
be brought to the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the area of Mechelen (Belgium) whereby
all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 

  

			
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	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and possible amendments thereof. 

Taxes and Social Security Treatment 
 The Company or a
Subsidiary shall be entitled, in accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other
following month, and/or the Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the
grant, the fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as a result of
grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
 Costs 

Stamp duties, stock exchange taxes and similar charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares
or existing shares shall be borne by the Warrant Holder. 
 Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the
Company. 
 Relationship with the employment agreement, consultancy agreement or director’s mandate 

No person has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary a right to have additional Warrants granted to
him later. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or Subsidiaries. 
 Notwithstanding
any provision of the Plan, the rights and obligations of any individual or entity resulting from his/her employment agreement or consultancy agreement or director’s mandate concluded with the Company or a Subsidiary shall not be affected by
his/her participation in the Plan or by any right that he/she may have to participate therein. 
 An individual to whom Warrants are granted in accordance
with the Plan shall not be entitled to any damages or compensation as a result of the cessation of his mandate, employment agreement or consultancy agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these
rights would arise or might arise based on the cessation of the rights he/she might have or the claims he/she could make concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss
or decrease in value of the rights or benefits. 
 *** 

  

			
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 WARRANTPLAN 2008 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

			
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 TABLE OF CONTENTS 

 

					
			
	1.		Base and Purpose		3
			
	2.		Definitions		3
			
	3.		Warrants		5
		
	 •       General
		5
	 •       Number per beneficiary
		5
	 •       Transfer restrictions
		5
	 •       Exercise price
		5
	 •       Administration of the Warrant Plan
		6
			
	4.		Beneficiaries of the Plan		6
			
	5.		Acceptance or Refusal of the Offer		6
			
	6.		Exercise and Payment Conditions		7
		
	 •       Exercise Term
		7
	 •       Exercise Period
		7
	 •       Conditions of Exercise
		7
	 •       Exercise of Warrants in accordance with the Code of
Companies
		7
			
	7.		Issue of the Shares		8
			
	8.		Cessation of the Employment or Service Relationship		8
		
	 •       Cessation of Employment or Service Relationship
		8
	 •       Decease
		9
	 •       Retirement
		9
	 •       Sickness or disability
		9
	 •       Deviations
		9
			
	9.		Protective measures		9
			
	10.		Dispute Resolution		9
			
	11.		Closing Provisions		10
		
	 •       Additional Information
		10
	 •       Taxes and social security treatment
		10
	 •       Costs
		10
	 •       Relationship with employment agreement, consultancy agreement or
director’s mandate
		10

  

			
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	1.	BASE AND PURPOSE 

 The Board of Directors of
GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2008 by resolution of 26 June 2008. 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub section 2 Definitions: “Beneficiary” and sub 4
Beneficiaries of the Plan) of the conditions under which it is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the
meanings given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: in principle all Employees and Consultants of the Company and its Subsidiaries. The possibility to acquire Warrants may be granted by the
Board of Directors in secondary order and on an individual basis to other persons who contributed to the Company or its Subsidiaries in the performance of their professional activities; 

Director: a natural person or legal entity who at any moment during the existence of the Company exercises a director’s mandate in the Company to
which they were appointed by either the Shareholders’ Meeting or the Board of Directors by way of cooptation; 
 Consultant: a natural or legal
person who on a contractual base provides services to the Company or a Subsidiary, but who is not a Employee (irrespective whether the contract was entered into directly with the relevant natural or legal person - or in case of a natural person
– with a legal person who has entrusted the performance of the services to such natural person); 
 Control: the competence de jure or
de facto to have a decisive influence on the appointment of the majority of the Directors or on the orientation of the management, as determined in article 5 et seq. of the Code of Companies; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan; 

Subsidiary: a company under the Control of the Company, as set forth in article 6 of the Code of Companies; 

Cessation of the Employment agreement: the effective date of the cessation for whatever reason of the Employment agreement between the relevant
Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Director,
Consultant or Employee, with the Company or a Subsidiary; 

  

			
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 Cessation of the Consultancy agreement: the effective date of the cessation for whatever reason of the
Consultancy agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company
controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 
 Cessation of the Director’s Mandate:
the effective date of the cessation for whatever reason of the director’s mandate exercised by the relevant Participant-Director with either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous (other) employment or
appointment of the relevant Participant (or a company Controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

New Shares: the shares of the Company to be issued pursuant to the exercise of the Warrants under this Plan; 

Plan: the present Warrant Plan 2008 approved by the Board of Directors of 26 June 2008, as amended from time to time by the Board of Directors in
accordance with the provisions of this Plan; 
 Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer if the Offer is accepted within sixty days as from the date of the Offer; 
 Exercise: to make use of the right
attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 

Exercise Term: the term in which the Beneficiary can exercise his Warrants to acquire Shares in the Company, taking into account the specific Exercise
Periods and the specific exercise conditions as set forth in section 6 of this Plan; 
 Exercise Period: a period of two weeks within the Exercise
Term, to be determined by the Board of Directors, during which Warrants can be Exercised; 
 Company: the limited liability company Galapagos, having
its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen; 
 Warrant: the right to subscribe, within the framework of this Plan, to one
New Share within the Exercise Term and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract; 

Words and terms denoting the plural shall include the singular and vice versa. 

  

			
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	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is maximum 300,065. These Warrants will be designated as “Warrants 2008”. The detail
of the number of Warrants per Beneficiary, offered under this Plan, is explained in Annex A to this Plan. 
 The Warrants are granted by the Company to the
Beneficiaries for free. 
 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

The Board of Directors may delegate the authorisation to make an Offer to the Nomination and Remuneration Committee of the Company. 

Offers under this Plan do not need to be the same for every Beneficiary. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiaries will be determined by the Board of Directors and, as regards the Directors, by the general shareholders’ meeting of the Company. 

Transfer restrictions 
 The Warrants received are
registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 
 The Warrant cannot be encumbered
by any pledge or in any other manner. 
 Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null
and void. 
 Exercise Price 
 The Board of Directors
shall determine the Exercise Price per Warrant at the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the
date of the Offer, the Exercise Price of the Warrants will, at the election of the Board of Directors, at least be equal to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or
(b) the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. For an Offer to a Director or a Consultant, the Exercise Price will, in accordance with article 598 of the
Code of Companies, be established at the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than 5.43 euro, i.e. the
fractional value (rounded up to the higher eurocent) of the Shares at the date of the issuance of the Warrants. 
 Upon Exercise and subsequent capital
increase the Exercise Price must be booked as capital for an amount equal to the fractional value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the
fractional value must be recorded as an issuance premium. 
 In deviation of article 501 of the Code of Companies and without prejudice to the exceptions
provided by law, the Company, represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any transactions which might have an impact on its capital, on the distribution of the profit or on the
liquidation surpluses or that may otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the 

  

			
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existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that these decisions might cause a reduction of the advantages offered to the Warrant
Holders, unless the only purpose of these decisions and transactions would be to reduce such advantages. 
 Should the rights of the Warrant Holder be
affected by such a decision or transaction, the Warrant Holder shall not be entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented
by the Board of Directors, may, in its sole discretion, make modifications to (i) the number of shares that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in
writing of such modification to the relevant Warrant Holder. 
 In case of a merger, demerger or stock-split of the Company, the rights of the outstanding
Warrants and/or the Exercise Price of the Warrants shall be adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company is
responsible for the management and the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4.	BENEFICIARIES OF THE PLAN 

Beneficiaries are the individuals as indicated in section 2 (“Definitions – Beneficiaries”). 

Employees, whose employment contract with the Company or a Subsidiary is temporarily suspended because of a foreign assignment (“expatriates”), may
also be designated as Beneficiary. 
 The Board of Directors is free to designate or exclude other persons as Beneficiary. 

The Warrants under this Plan are in majority reserved for and granted to Employees. The Board of Directors will ensure that the number of Beneficiaries
consists in minority of Directors and Consultants and in majority of Employees. The Board of Directors will also ensure that a majority of the issued Warrants will be reserved for and granted to Employees. 

 

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Acceptance Letter needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the
Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the
register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will
receive a confirmation of the number of Warrants he has accepted. 

  

			
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 The Nomination- and Remuneration Committee may decide to replace or complete the Notice of Acceptance by or
with a written Warrant agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination- and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Warrants will receive the Warrants as soon as these have been issued by notary deed establishing the acceptance. 

 

	6.	EXERCISE- AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is eight (8) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised prior the end of the third calendar year following the calendar year in which the Offer has been made. 

Between the commencement of the fourth calendar year following the year in which the Offer has been made and the fourth anniversary of the Offer maximum 60%
of the granted Warrants may be exercised during an Exercise Period. 
 As of the fourth anniversary of the Offer all granted Warrants may be exercised
without any restriction as to the number of vested warrants. 
 The Board of Directors will establish at least one Exercise Period of two weeks per
semester. 
 The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed
periods during which the Warrants cannot be exercised. 
 Conditions of Exercise 

Individual Warrants can only be exercised as a whole. 
 In order
to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board of Directors or to an authorized person designated by the Board of Directors, and needs at the same time to pay the
Exercise Price into a bank account designated by the Company and opened in the name of the Company. 
 On the exercise form, the Warrant Holder needs to
mention the number of Warrants he desires to exercise. 
 In case the bank account is not or not sufficiently credited prior to the end of the Exercise
Period, the Warrants will be deemed not to be exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants
will consequently not be lost and remain exercisable at a later stage. 
 Exercise of the Warrants in accordance with the Code of Companies 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Board of Directors, until such time the Warrant would have become exercisable in accordance with the Plan. 

  

			
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	7.	ISSUE OF THE NEW SHARES 

The Company shall only be obliged to issue New Shares pursuant to the Exercise if all exercise conditions set forth in section 6 have been complied with. 

As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the shares resulting from the exercise of Warrants, the Company may propose to the Participants who have
complied with the Exercise conditions to receive existing shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing shares subject to the condition that they sign an authorization by
which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who advanced them the existing shares. 

The Board of Directors has granted power of attorney to two members of the Board of Directors or to the managing Director, with possibility of sub-delegation,
to take care of the establishment by notary deed of the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the
allocation to the unavailable account “issuance premiums” of the difference between the subscription price for the shares and the fractional value, to bring the Articles of Association in accordance with the new situation of the social
capital, to sign and deliver the relevant Euroclear documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of the Warrants) to the beneficiaries. 

The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been issued. The Company has
not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE EMPLOYMENT- OR SERVICE RELATIONSHIP 

Cessation of the employment- or service relationship 
 In
case of Cessation of the Employment agreement, Cessation of the Consultancy agreement or Cessation of the Director’s Mandate after the end of the third calendar year following the date of the Offer, the Beneficiary must exercise his not yet
exercised Warrants within a six (6) month period as from the date on which he leaves employment or is otherwise not longer involved in the activities of the Company, during an Exercise Period of two weeks to be determined by the Board of
Directors. 
 If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year
following the date of the Offer, a part of the granted Warrants shall automatically become null and void as follows: 
  

	•	 	90 % in case the Cessation is situated prior to the first anniversary of the Offer; 

  

	•	 	80 % in case the Cessation is situated prior to the second anniversary of the Offer; 

  

	•	 	60 % in case the Cessation is situated prior to the third anniversary of the Offer; 

  

			
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	•	 	40 % in case the Cessation is situated after the third anniversary of the Offer, but prior to the end of the third calendar year. 

If Cessation of the Director’s Mandate occurs prior to the third anniversary of the Offer, but without prejudice to a dissident decision of the Board of
Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants shall automatically become null and void as follows: 
  

	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Offer. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first day of the fourth
calendar year following the year of the Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 
 Decease 

In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised
within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 Sickness or Disability 

In case of cessation of the employment agreement as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Deviations 
 The Board of Directors may at its discretion
decide to deviate at any time from the provisions set forth in this section 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take
appropriate measures to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change of control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan will,
if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the
rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

 

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will
be brought to the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be 

  

			
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submitted to Courts and Tribunals competent for the area of Mechelen (Belgium) whereby all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by
Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and possible amendments thereof. 

Taxes and Social Security Treatment 
 The Company or a
Subsidiary shall be entitled, in accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other
following month, and/or the Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the
grant, the fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as a result of
grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
 Costs 

Stamp duties, stock exchange taxes and similar charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares
or existing shares shall be borne by the Warrant Holder. 
 Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the
Company. 
 Relationship with the employment agreement, consultancy agreement or director’s mandate 

No person has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary a right to have additional Warrants granted to
him later. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or Subsidiaries. 
 Notwithstanding
any provision of the Plan, the rights and obligations of any individual or entity resulting from his/her employment agreement or consultancy agreement or director’s mandate concluded with the Company or a Subsidiary shall not be affected by
his/her participation in the Plan or by any right that he/she may have to participate therein. 
 An individual to whom Warrants are granted in accordance
with the Plan shall not be entitled to any damages or compensation as a result of the cessation of his mandate, employment agreement or consultancy agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these
rights would arise or might arise based on the cessation of the rights he/she might have or the claims he/she could make concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss
or decrease in value of the rights or benefits. 
 *** 

  

			
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 WARRANT PLAN 2008 (B) 

ON SHARES OF 

GALAPAGOS NV 

GENERAL RULES 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	- 1 -

 

 
  

 TABLE OF CONTENTS 

 

							
	1.		Base and Purpose		 	3	  
			
	2.		Definitions		 	3	  
			
	3.		Warrants		 	5	  
			
	 •       
		Outline		 	5	  
	 •       
		Number to be Offered per Beneficiary		 	5	  
	 •       
		Transfer Restrictions		 	5	  
	 •       
		Exercise Price		 	5	  
	 •       
		Administration of the Warrant Plan		 	6	  
			
	4.		Beneficiaries of the Plan		 	6	  
			
	5.		Acceptance or Refusal of the Grant		 	6	  
			
	6.		Exercise and Payment Conditions		 	7	  
			
	 •       
		Exercise Term		 	7	  
	 •       
		Exercise Period		 	7	  
	 •       
		Conditions of Exercise		 	8	  
	 •       
		Exercise of Warrants in accordance with the Law		 	8	  
			
	7.		Issue of the Shares		 	8	  
			
	8.		Cessation of Service Relationship		 	9	  
			
	 •       
		Cessation of Director’s Mandate		 	9	  
	 •       
		Death		 	10	  
	 •       
		Retirement		 	10	  
	 •       
		Sickness or Disability		 	10	  
	 •       
		Deviations		 	10	  
			
	9.		Protective measures		 	10	  
			
	10.		Dispute Resolution		 	11	  
			
	11.		Closing Provisions		 	11	  
			
	•		Additional Information		 	11	  
	•		Taxes and Social Security Tax Treatment		 	11	  
	•		Costs		 	11	  
	•		Relationship with Director’s Mandate		 	11	  

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
		- 2 -

 

 
  

	1.	BASE AND PURPOSE 

 The Extraordinary General
Shareholders’ Meeting of GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2008 (B) during its meeting of 26 June 2008. 

With the Plan set forth hereafter (see infra sub section 2 “Definitions - Beneficiary”) the Company wants to inform all Beneficiaries of the
conditions under which the Company is willing to grant Warrants. The Company thus wants to acknowledge the best endeavours used by the Beneficiaries to help the company be a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the
meanings given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Notice of Offer: the letter specifying the Offer; 

Notice of Acceptance: the form that is received by the Beneficiary at the moment of the Offer and that needs to be returned to the Company, f.a.o. the
Board of Directors, prior to the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: each of the following Directors: Mr Onno van de Stolpe and Dr. William Garth Rapeport; 

Director: the individuals or corporations who at any moment during the existence of the Company exercise a director’s mandate within the Company
to which they were appointed by either the Company’s shareholders’ meeting or the Board of Directors by way of cooptation; 
 Control: the
competence de iure or de facto to have a decisive influence on the designation of the majority of its Directors or on the orientation of its management, as determined in article 5 et seq. of the Companies Code; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants are granted in accordance with this Plan; 

Subsidiary: a company under the Control of the Company, as further set forth in article 6 of the Companies Code; 

Cessation of Director’s Mandate: the effective date of cessation for whatever reason of the Director’s Mandate exercised by the
Participant-Director for either the Company or a Subsidiary, except for a cessation accompanied by the simultaneous (other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Director, consultant
or employee, with the Company or a Subsidiary; 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
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 New Shares: the shares of the Company to be issued pursuant to the exercise of the Warrants under this
Plan; 
 Plan: the present Warrant Plan 2008 (B) as approved by the Extraordinary General Shareholders’ Meeting of 26 June 2008
and as amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 
 Board of Directors: the board of
directors of the Company; 
 Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer if the Offer is accepted within sixty days as from the date of the Offer; 
 Exercise: to make use of the right
attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a new Share can be acquired when Exercising a Warrant, during one of the specific Exercise Periods within the Exercise term; 

Exercise Term: the term in which the Beneficiary can exercise his/her Warrants to acquire Shares in the Company, taking into account the specific
Exercise Periods and the specific exercise terms and conditions as set forth in section 6 of this Plan; 
 Exercise Period: a period to be determined
by the Board of Directors of two weeks within the Exercise Term during which the Warrants can be Exercised; 
 Company: the public limited liability
company Galapagos NV, having its seat at Generaal De Wittelaan, L11 A3, 2800 Mechelen, Belgium; 
 Warrant: the right to acquire, within the
framework of this Plan, one New Share within the Exercise Term and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary
who owns Warrants; 
 Words and terms denoting the plural shall include the singular and vice versa. 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
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	3.	WARRANTS 

 Outline 

The number of Warrants created in the framework of this Plan is of maximum 57,500. These Warrants shall be called “Warrants 2008 (B)”. 

The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary thereof to subscribe to one New Share in accordance with the terms and conditions of this Plan. 

Number to be Offered per Beneficiary 
 The number of
Warrants to be offered to the Beneficiaries under Warrant Plan 2008 (B) shall be determined by the Shareholders’ Meeting, as follows: 
  

	 	•	 	Mr Onno van de Stolpe: 50,000 Warrants; 

  

	 	•	 	Dr. William Garth Rapeport: 7,500 Warrants. 

 Transfer Restrictions 

The acquired Warrants are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 

The Warrant cannot be encumbered by any pledge, security or right in rem or be charged in any other manner. 

Warrants that in conflict with the foregoing are transferred, pledged or charged shall become legally null and void. 

Exercise Price 
 The Exercise Price per Warrant shall be
determined by the General Shareholders’ Meeting. 
 As the Shares of the Company are listed or traded on a regulated market at the date of the Offer,
the Exercise Price of the Warrants offered to a Director will, in accordance with article 598 of the Companies Code, not be lower than the average of the closing price of the Share of the Company during the last thirty (30) days preceding the
date of the Offer. In no event will the exercise price be lower than 5.43 euro, i.e. the fractional value (rounded up to the higher eurocent) of the shares at the date of the issuance of the Warrants. 

Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital for an amount equal to the fractional value of the Shares at the
moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be recorded as an issuance premium. 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	- 5 -

 

 
  

 In deviation from article 501 of the Companies Code and without prejudice the exceptions provided by law, the
Company, represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any transactions which might have an impact on its capital, on the distribution of the profit or on the liquidation
surpluses or that may otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Companies Code)), even in the
event that these decisions might cause a reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction. 

Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a modification of the
Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the number of Shares
that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

In case of a merger, split-up or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be
adjusted in accordance with the conversion ration applicable at the occasion of the merger, split-up or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company ensures
that the Plan is managed and administered and makes sure that all questions of Beneficiaries or Warrant Holders are answered in an accurate and fast manner. 
  

	4.	BENEFICIARIES OF THE PLAN 

Beneficiaries are the persons as described in section 2 (“Definitions – Beneficiaries”), i.e. Mr Onno van de Stolpe and Dr William
Garth Rapeport. 
 The Warrants under this Plan are exclusively for the benefit of Directors. 

 

	5.	ACCEPTANCE OR REFUSAL OF THE GRANT 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	- 6 -

 

 
  

 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his/her decision
regarding the Offer: Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set forth in the
Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the
Offer. 
 Alternatively, the Offer and the Acceptance can be recorded in the notarial deed enacting the issuance of Warrants, in which case no Notice of
Offer and Notice of Acceptance are required, and in which case the Beneficiary can notify his acceptance in person or by means of a (private) proxy. 
 The
Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the register of warrant holders of the Company. This register is kept at the registered office of the Company,
mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will receive a confirmation of the number of Warrants he has accepted. 

The Beneficiary who has accepted the offered Warrants will receive the Warrants as soon as the Board of Directors has established the acceptance. 

 

	6.	EXERCISE AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is eight (8) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised earlier than the end of the third (3rd) calendar year following the
calendar year in which the Grant has been made. 
 Between the commencement of the fourth calendar year following the one in which the Grant has been made
and the fourth anniversary of the Grant maximum sixty percent (60%) of the granted Warrants may be exercised during an Exercise Period. 
 As of the
fourth (4th) anniversary of the Grant all granted Warrants may be exercised without any restriction as to the number of vested warrants during an Exercise Period. 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	- 7 -

 

 
  

 The Board of Directors will establish at least one Exercise Period of two weeks per semester. 

The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed periods during which
the Warrants cannot be exercised insofar the exercise Term has not expired. 
 Conditions of Exercise 

Separate Warrants can only be exercised as a whole. 
 In order to
exercise a Warrant, the Warrant Holder shall submit an appropriate Exercise Notice (the exercise form) to the Board of Directors or to an authorized person designated by the Board of Directors, together with the Exercise Price, to be deposited into
a bank account opened in the name of the Company. 
 The Warrant Holder needs to mention the number of Warrants he/she desires to exercise on the Exercise
Notice. 
 In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage. 
 Exercise of Warrants in accordance with the Companies Code 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Companies Code and is thus also prematurely exercised pursuant to article 501 of the Companies Code, the New Shares that the Warrant Holders receives as a result of such Exercise will be not transferable,
except with the explicit prior consent of the Board of Directors, until such time the Warrant would have become exercisable in accordance with the Plan. 
  

	7.	ISSUE OF NEW SHARES 

 The
Company shall only be obliged to issue New Shares pursuant to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied with. 

As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfill the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	- 8 -

 

 
  

 In view of a rapid delivery of the Shares resulting from the exercise of Warrants, the Company, represented
by the Board of Directors, can propose to the Participants who have complied with the Exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of
existing Shares subject to the condition that they sign an authorization by which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who provided them with the advance. 

The General Shareholders’ Meeting has granted power of attorney to two members of the Board of Directors or to the managing Director, with possibility of
sub-delegation, to take care of the establishment by notary deed of the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital
increase, the allocation to the unavailable account “issuance premiums” of the difference in the exercise price between the subscription price for the shares and the fractional value, to bring the Articles of Association in accordance with
the new situation of the social capital, to sign and deliver the relevant Euroclear and bank documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of the
Warrants) to the Beneficiaries. 
 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as
they have been issued. The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF SERVICE RELATIONSHIP 

Cessation of Director’s Mandate 
 In case of Cessation
of the Director’s Mandate after the end of the third calendar year following the date of the Offer, the Beneficiary must exercise his not yet exercised Warrants within a six (6) month period as from the date on which his mandate comes to
an end or from the date he is otherwise not involved anymore in the activities of the Company, during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Director’s Mandate occurs prior to the third anniversary of the Offer, subject to a dissident decision of the Board of Directors
taken after the Cessation of the Director’s Mandate, a part of the granted Warrants shall automatically become null and void as follows: 
  

	 	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Offer. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first day of the fourth
calendar year following the year of Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	- 9 -

 

 
  

 Death 

In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised by
such Personal Representative(s) within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 Illness or Disability 

In case of Cessation of the Director’s Mandate as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory
be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Deviations 
 The Board of Directors shall have an absolute
discretion to deviate at any time it thinks fit from the rules set forth in this section 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take
appropriate measures to safeguard the interests of the Warrant Holders in case: 
  

	 	•	 	a fundamental change in the control of the Company occurs; 

  

	 	•	 	a fundamental change in the regulations occurs; 

  

	 	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan may, if
required by the circumstances, be amended by the Company. The Beneficiary shall be informed of any such modifications and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm
the rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	 - 10 -

 

 

 
  

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will
be brought to the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the area of Mechelen (Belgium) whereby
all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and amendments thereof as the case may be. 

Taxes and Social Security Tax Treatment 
 The Company
shall be entitled, in accordance with the applicable regulations, to apply a withholding on the compensation for the month in which the taxable moment occurs or on the compensation of any other following month, and/or the Beneficiary shall be
obliged to pay to the Company (if so required by the Company) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the fact that Warrants become susceptible of being exercised or of the exercise
of the Warrants or due or payable in respect of the delivery of the New Shares. 
 The Company shall be entitled, in accordance with the applicable
regulations, to prepare the required reports, necessary as a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 

Costs 
 Stamp duties, stock exchange taxes and similar
charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

Relationship with the Director’s Mandate 
 No person
has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary a right to have additional Warrants granted to him later. The grant of Warrants under this Plan does not contain a promise of a continuous mandate
or contract by the Company or its Subsidiaries. 
 Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity
resulting from his Director’s mandate shall not be affected by his participation in the Plan or by any right that he may have to participate therein. 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	- 11 -

 

 
  

 An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages
or compensation by reason of the cessation of his Director’s mandate, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the rights he might have or the claims he could make
concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such mandate or by reason of the loss or decrease in value of the rights or benefits. 

*** 

  

			
	 Galapagos NV, Warrant Plan 2008 (B)
	  	- 12 -

			
	Free translation for information purposes	  	

  

 WARRANTPLAN 2009 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

					
	 Galapagos NV, Warrant Plan 2009, 1 April 2009
	 	p. 1/10	  	

			
	Free translation for information purposes		

  

 TABLE OF CONTENTS 

 

							
	 1.
		 Base and Purpose
		 	3	  
			
	 2.
		 Definitions
		 	3	  
			
	 3.
		 Warrants
		 	4	  
		
	 •       General
		 	4	  
	 •       Number per beneficiary
		 	5	  
	 •       Transfer restrictions
		 	5	  
	 •       Exercise price
		 	5	  
	 •       Administration of the Warrant Plan
		 	6	  
			
	 4.
		 Beneficiaries of the Plan
		 	6	  
			
	 5.
		 Acceptance or Refusal of the Offer
		 	6	  
			
	 6.
		 Exercise- and Payment Conditions
		 	7	  
		
	 •       Exercise Term
		 	7	  
	 •       Exercise Period
		 	7	  
	 •       Conditions of Exercise
		 	7	  
	 •       Exercise of Warrants in accordance with the Law
		 	7	  
			
	 7.
		 Issue of the New Shares
		 	7	  
			
	 8.
		 Cessation of the Employment or Service Relationship
		 	8	  
		
	 •       Cessation of Employment or Service Relationship
		 	8	  
	 •       Decease
		 	9	  
	 •       Retirement
		 	9	  
	 •       Sickness or disability
		 	9	  
	 •       Deviations
		 	9	  
			
	 9.
		 Protective measures
		 	9	  
			
	 10.
		 Dispute Resolution
		 	9	  
			
	 11.
		 Closing Provisions
		 	9	  
		
	 •       Additional Information
		 	9	  
	 •       Taxes and social security treatment
		 	9	  
	 •       Costs
		 	10	  
	 •       Relationship with employment agreement or consultancy- or management
agreement
		 	10	  
	 •       General Shareholders’ Meetings
		 	10	  
	 •       Address change
		 	10	  

  

					
	 Galapagos NV, Warrant Plan 2009, 1 April 2009
		p. 2/10		

			
	Free translation for information purposes	  	

  

	1.	BASE AND PURPOSE 

 The Board of Directors of GALAPAGOS NV
(hereinafter referred to as “the Company”) has approved the present Warrant Plan 2009 by resolution of 1 April 2009. 
 With the Plan set
forth hereafter the Company wants to inform all Beneficiaries (see infra sub section 2 Definitions: “Beneficiary” and sub 4 Beneficiaries of the Plan) of the conditions under which it is willing to offer Warrants. The Company thus wants to
acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 
  

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the meanings given
below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire Warrants in accordance
with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: in principle all Employees and Consultants of the Company and its Subsidiaries. The possibility to acquire Warrants may be granted by the
Board of Directors in secondary order and on an individual basis to other persons who contributed to the Company or its Subsidiaries in the performance of their professional activities; 

Consultant: a natural or legal person who on a contractual base provides services to the Company or a Subsidiary, but who is not a Employee
(irrespective whether the contract was entered into directly with the relevant natural or legal person - or in case of a natural person – with a legal person who has entrusted the performance of the services to such natural person); 

Control: the competence de jure or de facto to have a decisive influence on the appointment of the majority of the Directors or on the
orientation of the management, as determined in article 5 et seq. of the Code of Companies; 
 Participant: a Beneficiary who has accepted the Offer
and to whom one or more Warrants have been granted in accordance with this Plan; 
 Subsidiary: a company under the Control of the Company, as set
forth in article 6 of the Code of Companies; 
 Cessation of the Employment agreement: the effective date of the cessation for whatever reason of the
Employment agreement between the relevant Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company
controlled by the Participant) as a Consultant or Employee, with the Company or a Subsidiary; 
 Cessation of the Consultancy agreement: the
effective date of the cessation for whatever reason of the Consultancy- or management agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous
(other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Consultant or Employee, with the Company or a Subsidiary; 

  

					
	 Galapagos NV, Warrant Plan 2009, 1 April 2009
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	Free translation for information purposes	  	

  

 New Shares: the shares of the Company to be issued pursuant to the exercise of the Warrants under this
Plan; 
 Plan: the present Warrant Plan 2009 approved by the Board of Directors, as amended from time to time by the Board of Directors in accordance
with the provisions of this Plan; 
 Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer if the Offer is accepted within sixty days as from the date of the Offer; 
 Exercise: to make use of the right
attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 

Exercise Term: the term in which the Beneficiary can exercise his Warrants to acquire Shares in the Company, taking into account the specific Exercise
Periods and the specific exercise conditions as set forth in section 6 of this Plan; 
 Exercise Period: a period of two weeks within the Exercise
Term, to be determined by the Board of Directors, during which Warrants can be Exercised; 
 Company: the limited liability company Galapagos, having
its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this
Plan, to one New Share within the Exercise Term and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns
Warrants; 
 Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract; 

Words and terms denoting the plural shall include the singular and vice versa. 
  

	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is maximum 560.000. These Warrants will be designated as “Warrants 2009”. The detail of
the number of Warrants per Beneficiary, offered under this Plan, is explained in Annex A to this Plan. 
 The Warrants are granted by the Company to the
Beneficiaries for free. 

  

					
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 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and
conditions of the Plan. 
 The Board of Directors may delegate the authorisation to make an Offer to the Nomination and Remuneration Committee of the
Company. 
 Offers under this Plan do not need to be the same for every Beneficiary. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiaries will be determined by the Board of Directors. 
 Transfer restrictions 

The Warrants received are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 

The Warrant cannot be encumbered by any pledge or in any other manner. 

Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and void. 

Exercise Price 
 The Board of Directors shall determine
the Exercise Price per Warrant at the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the date of the
Offer, the Exercise Price of the Warrants will, at the election of the Board of Directors, at least be equal to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or (b) the average
of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. For an Offer to a Consultant, the Exercise Price will, in accordance with article 598 of the Code of Companies, be established at
the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than 5.43 euro, i.e. the fractional value (rounded up to the
higher eurocent) of the Shares at the date of the issuance of the Warrants. 
 Upon Exercise and subsequent capital increase the Exercise Price must be
booked as capital for an amount equal to the fractional value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be recorded as
an issuance premium. 
 In deviation of article 501 of the Code of Companies and without prejudice to the exceptions provided by law, the Company,
represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any transactions which might have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that
may otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that
these decisions might cause a reduction of the advantages offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be to reduce such advantages. 

Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a modification of the
Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the number of shares
that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

  

					
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 In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or
the Exercise Price of the Warrants shall be adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company is
responsible for the management and the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4.	BENEFICIARIES OF THE PLAN 

 Beneficiaries are
the individuals as indicated in section 2 (“Definitions – Beneficiaries”). 
 Employees, whose employment contract with the Company or a
Subsidiary is temporarily suspended because of a foreign assignment (“expatriates”), may also be designated as Beneficiary. 
 The Board of
Directors is free to designate or exclude other persons as Beneficiary. 
 The Warrants under this Plan are in majority reserved for and granted to
Employees. The Board of Directors will ensure that the number of Beneficiaries consists in minority of Consultants and in majority of Employees. The Board of Directors will also ensure that a majority of the issued Warrants will be reserved for and
granted to Employees. 
  

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Acceptance Letter needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the
Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the
register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will
receive a confirmation of the number of Warrants he has accepted. 
 The Nomination- and Remuneration Committee may decide to replace or complete the Notice
of Acceptance by or with a written Warrant agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination- and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Warrants will receive the Warrants as soon as these have been issued by notary deed establishing the acceptance. 

  

					
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	6.	EXERCISE- AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is eight (8) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised prior the end of the third calendar year following the calendar year in which the Offer has been made. 

Between the commencement of the fourth calendar year following the year in which the Offer has been made and the fourth anniversary of the Offer maximum 60%
of the granted Warrants may be exercised during an Exercise Period. 
 As of the fourth anniversary of the Offer all granted Warrants may be exercised
without any restriction as to the number of vested warrants. 
 The Board of Directors will establish at least one Exercise Period of two weeks per
semester. It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 
 The
Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed periods during which the Warrants cannot be exercised. 

Conditions of Exercise 
 Individual Warrants can only be
exercised as a whole. 
 In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to
the Board of Directors or to an authorized person designated by the Board of Directors, and needs at the same time to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be exercised. The
Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain exercisable at a
later stage, insofar that the Exercise Term has not expired. 
 Exercise of the Warrants in accordance with the Law 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Board of Directors, until such time the Warrant would have become exercisable in accordance with the Plan. 
  

	7.	ISSUE OF THE NEW SHARES 

 The
Company shall only be obliged to issue New Shares pursuant to the Exercise if all exercise conditions set forth in section 6 have been complied with. 

  

					
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 As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account
the time needed to fulfil the required administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the shares resulting from the exercise of Warrants, the Company may propose to the Participants who have
complied with the Exercise conditions to receive existing shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing shares subject to the condition that they sign an authorization by
which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who advanced them the existing shares. 

The Board of Directors has granted power of attorney to two members of the Board of Directors or to the managing Director, with possibility of sub-delegation,
to take care of the establishment by notary deed of the acceptance of the offered Warrants, the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding
realization of the capital increase, the allocation to the unavailable account “issuance premiums” of the difference between the subscription price for the shares and the fractional value, to bring the Articles of Association in accordance
with the new situation of the social capital, to sign and deliver the relevant Euroclear documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of the Warrants)
to the beneficiaries. 
 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have
been issued. The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE EMPLOYMENT- OR SERVICE RELATIONSHIP 

Cessation of the employment- or service relationship 
 In
case of Cessation of the Employment agreement or Cessation of the Consultancy agreement after the end of the third calendar year following the date of the Offer, the Beneficiary must exercise his not yet exercised Warrants within a six
(6) month period as from the date on which he leaves employment or is otherwise not longer involved in the activities of the Company, during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following the date of
the Offer, a part of the granted Warrants shall automatically become null and void as follows: 
  

	•	 	90 % in case the Cessation is situated prior to the first anniversary of the Offer; 

  

	•	 	80 % in case the Cessation is situated prior to the second anniversary of the Offer; 

  

	•	 	60 % in case the Cessation is situated prior to the third anniversary of the Offer; 

  

	•	 	40 % in case the Cessation is situated after the third anniversary of the Offer, but prior to the end of the third calendar year. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first day of the fourth
calendar year following the year of the Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 

  

					
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 Decease 

In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised
within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 Sickness or Disability 

In case of cessation of the employment agreement as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Deviations 
 The Board of Directors may at its discretion
decide to deviate at any time from the provisions set forth in this section 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take appropriate measures
to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change of control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan will,
if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the
rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

 

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will be brought to
the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the area of Mechelen (Belgium) whereby all parties
involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and possible amendments thereof. 

Taxes and Social Security Treatment 
 The Company or a
Subsidiary shall be entitled, in accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other
following month, and/or the 

  

					
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Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable
because of the fact of the grant, the acceptance, the fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as a result of
grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
 Costs 

Stamp duties, stock exchange taxes and similar charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares
or existing shares shall be borne by the Warrant Holder. 
 Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the
Company. 
 Relationship with the employement agreement or consultancy or management agreement 

No person has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary a right to have additional Warrants granted to
him later. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or Subsidiaries. 
 Notwithstanding
any provision of the Plan, the rights and obligations of any individual or entity resulting from his/her employment agreement or consultancy- or management agreement concluded with the Company or a Subsidiary shall not be affected by his/her
participation in the Plan or by any right that he/she may have to participate therein. 
 An individual to whom Warrants are granted in accordance with the
Plan shall not be entitled to any damages or compensation as a result of the cessation of his mandate, employment agreement or consultancy- or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that
these rights would arise or might arise based on the cessation of the rights he/she might have or the claims he/she could make concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such agreement or by reason of
the loss or decrease in value of the rights or benefits. 
 General Shareholders’ Meetings 

Holders of Warrants have the right to participate in the General Shareholders’ Meetings of the Company, but without voting right and only with an advisory
voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. By accepting Warrants, the Participant approves that convocations for General Shareholders’ Meeting are validly made if made by
means of e-mail. 
 Address Change 
 Holders of Warrants
are obliged to keep the Company informed of changes to their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

*** 

  

					
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 WARRANTPLAN 2009 (B)

ON SHARES OF 

GALAPAGOS NV 

GENERAL RULES 
  

  

					
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 TABLE OF CONTENTS 

 

							
	 1.
		 Base and Purpose
		 	3	  
			
	 2.
		 Definitions
		 	3	  
			
	 3.
		 Warrants
		 	4	  
		
	 •       General
		 	4	  
	 •       Number per beneficiary
		 	5	  
	 •       Transfer restrictions
		 	5	  
	 •       Exercise price
		 	5	  
	 •       Administration of the Warrant Plan
		 	6	  
			
	 4.
		 Beneficiaries of the Plan
		 	6	  
			
	 5.
		 Acceptance or Refusal of the Grant
		 	6	  
			
	 6.
		 Exercise- and Payment Conditions
		 	6	  
		
	 •       Exercise Term
		 	6	  
	 •       Exercise Period
		 	6	  
	 •       Conditions of Exercise
		 	7	  
	 •       Exercise of Warrants in accordance with the Law
		 	7	  
			
	 7.
		 Issue of the New Shares
		 	7	  
			
	 8.
		 Cessation of the Director’s mandate or service relationship
		 	8	  
		
	 •       Cessation of the Director’s mandate or service
relationship
		 	8	  
	 •       Decease
		 	8	  
	 •       Retirement
		 	8	  
	 •       Sickness or disability
		 	8	  
	 •       Deviations
		 	9	  
			
	 9.
		 Protective measures
		 	9	  
			
	 10.
		 Dispute Resolution
		 	9	  
			
	 11.
		 Closing Provisions
		 	9	  
		
	 •       Additional Information
		 	9	  
	 •       Taxes and social security treatment
		 	9	  
	 •       Costs
		 	9	  
	 •       Relationship with Director’s Mandate or consultancy- or management
agreement
		 	10	  
	 •       General Shareholders’ Meetings
		 	10	  
	 •       Address change
		 	10	  

  

					
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	1.	BASE AND PURPOSE 

 The Extraordinary General
Shareholders’ Meeting of GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2009 (B) in its meeting of 2 June 2009. 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub section 2 “Definitions - Beneficiary”) of the
conditions under which it is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the meanings given
below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire Warrants in accordance
with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: each of the following Directors (subject to their being (re-)appointed as Director as the case may be):
Mr Onno van de Stolpe, Dr Raj Parekh, Mr Ferdinand Verdonck, Dr Harrold van Barlingen, Dr Garth Rapeport, Dr Werner Cautreels and Dr Rudi Pauwels, and the following independent consultant: Mr Guillaume Jetten. 

Directors: the individuals or corporations who at any moment during the existence of the Company exercise a director’s mandate in the Company to
which they were appointed by either the General Shareholders’ Meeting or the Board of Directors by way of cooptation; 
 Consultant: a natural
or legal person who on a contractual base provides services to the Company or a Subsidiary, but who is not an employee (irrespective whether the contract was entered into directly with the relevant natural or legal person - or in case of a natural
person – with a legal person who has entrusted the performance of the services to such natural person); 
 Control: the competence de
jure or de facto to have a decisive influence on the appointment of the majority of its Directors or on the orientation of its management, as determined in article 5 et seq. of the Code of Companies; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan; 

Subsidiary: a company under the Control of the Company, as set forth in article 6 of the Code of Companies; 

Cessation of the Director’s Mandate: the effective date of the cessation for whatever reason of the Director’s Mandate exercised by the
relevant Participant-Director with either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Director,
consultant or employee, with the Company or a Subsidiary; 

  

			
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 Cessation of the Consultancy agreement: the effective date of the cessation for whatever reason of the
Consultancy- or management agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant
(or a company controlled by the Participant) as a Consultant or Employee, with the Company or a Subsidiary; 
 New Shares: the shares of the Company
to be issued pursuant to the exercise of the Warrants under this Plan; 
 Plan: the present Warrant Plan 2009 (B) issued by the Extraordinary
Shareholders’ Meeting of 2 June 2009, as amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 

Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer if the Offer is accepted within sixty days as from the date of the Offer; 
 Exercise: to make use of the right
attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 

Exercise Term: the term in which the Beneficiary can exercise his Warrants to acquire Shares in the Company, taking into account the specific Exercise
Periods and the specific exercise conditions as set forth in section 6 of this Plan; 
 Exercise Period: a period of two weeks within the Exercise
Term, to be determined by the Board of Directors, during which Warrants can be Exercised; 
 Company: the limited liability company Galapagos, having
its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this
Plan, to one New Share within the Exercise Term and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns
Warrants; 
 Words and terms denoting the plural shall include the singular and vice versa. 

 

	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is of maximum 135,100. These Warrants will be designated as “Warrants 2009 (B)”. 

The Warrants are granted by the Company to the Beneficiaries for free. 

  

			
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 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and
conditions of the Plan. 
 Number per Beneficiary 
 The
number of Warrants to be offered to the Beneficiaries under the Warrant Plan 2009 (B) will be determined by the General Shareholders’ Meeting of the Company, as follows: 

 

	 	•	 	to Mr Onno van de Stolpe: 40,000 Warrants; 

  

	 	•	 	to Dr Werner Cautreels: 7,500 warrants; 

  

	 	•	 	to Dr Raj Parekh, Mr Ferdinand Verdonck, Dr Harrold van Barlingen, Dr Garth Rapeport and Dr Rudi Pauwels: each 2,520 Warrants; 

  

	 	•	 	to Mr Guillaume Jetten: 75,000 Warrants. 

 Transfer restrictions 

The Warrants received are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 

The Warrant cannot be encumbered by any pledge or in any other manner. 

Warrants that, in contravention with the foregoing, are transferred or encumbered shall become legally null and void. 

Exercise Price 
 The Exercise Price per Warrant shall be
determined at the moment of the Offer in accordance with the provisions set forth below. 
 As the Shares of the Company are listed or traded on a regulated
market at the date of the Offer, the Exercise Price of the Warrants offered to a Director or an independent Consultant will, in accordance with article 598 of the Code of Companies, not be lower than the average of the closing price of the Share of
the Company during the last thirty (30) days preceding the date of the Offer. In no event will the exercise price be lower than 5.43 euro, i.e. the fractional value (rounded up to the higher eurocent) of the shares at the date of the
issuance of the Warrants. 
 Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital for an amount equal to the
fractional value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be recorded as an issuance premium. 

In derogation of article 501 of the Code of Companies and without prejudice the exceptions provided by law, the Company, represented by the Board of
Directors, expressly reserves the right to take any possible decisions and to carry out any transactions which might have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that may otherwise affect the
rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that these decisions might cause a
reduction of the advantages offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be to reduce such advantages. 

Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a modification of the
Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the number of Shares
that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

  

			
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 In case of a merger, split-up or stock-split of the Company, the rights of the outstanding Warrants and/or
the Exercise Price of the Warrants shall be adjusted in accordance with the conversion ration applicable at the occasion of the merger, split-up or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company is
responsible for the management and the administration of the Plan and makes sure that all questions of Beneficiaries or Warrant Holders are answered in an accurate and fast manner. 

 

	4.	BENEFICIARIES OF THE PLAN 

 Beneficiaries are
the individuals as indicated in section 2 (“Definitions – Beneficiaries”). 
 The Warrants under this Plan are exclusively for the benefit of
Directors and an independent Consultant. 
  

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned Notice of Acceptance, he shall be deemed to have refused the Offer.

 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the register
of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will receive a
confirmation of the number of Warrants he has accepted. 
 The Beneficiary who has accepted the offered Warrants will receive the Warrants as soon as the
Board of Directors has established the acceptance. 
  

	6.	EXERCISE AND PAYMENT CONDITIONS 

 Exercise
Term 
 The Exercise Term is five (5) years, starting from the date of the Offer. 

Exercise Period 
 Warrants may not be exercised prior the
end of the third calendar year following the calendar year in which the Offer has been made. 
 Between the commencement of the fourth calendar year
following the one in which the Offer has been made and the fourth anniversary of the Offer maximum 60% of the granted Warrants may be exercised during an Exercise Period. 

As of the fourth anniversary of the Offer all granted Warrants may be exercised without any restriction as to the number of vested warrants, during an
Exercise Period. 

  

			
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 The Board of Directors will establish at least one Exercise Period of two weeks per semester. It is the
responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 
 The Board of Directors
may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed periods during which the Warrants cannot be exercised. 

Conditions of Exercise 
 Individual Warrants can only be
exercised as a whole. 
 In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to
the Board of Directors or to an authorized person designated by the Board of Directors, and needs at the same time to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be exercised. The
Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain exercisable at a
later stage, insofar that the Exercise Term has not expired. 
 Exercise of the Warrants in accordance with the Law 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Company, until such time the Warrant would have become exercisable in accordance with the Plan. 
  

	7.	ISSUE OF THE NEW SHARES 

 The
Company shall only be obliged to issue New Shares pursuant to the Exercise of Warrants if all exercise conditions set forth in section 6 have been complied with. 

As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the Shares resulting from the exercise of Warrants, the Company, represented by the Board of Directors,
can propose to the Participants who have complied with the Exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing Shares subject to the
condition that they sign an authorization by which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who provided them with the advance. 

The General Shareholders’ Meeting has granted power of attorney to two members of the Board of Directors or to the managing Director, with possibility of
sub-delegation, to take care of the establishment by notary 

  

			
	 Warrant Plan 2009 (B)
	  	p. 7/10

			
	Free translation for information purposes	  	

  

 
deed of the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the
allocation to the unavailable account “issuance premiums” of the difference in the exercise price between the subscription price for the shares and the fractional value, to bring the Articles of Association in accordance with the new
situation of the social capital, to sign and deliver the relevant Euroclear and bank documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of the Warrants) to
the Beneficiaries. 
 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been
issued. The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE SERVICE RELATIONSHIP 

Cessation of the Director’s Mandate or service relationship 

In case of Cessation of the Director’s Mandate or Cessation of the Consultancy agreement after the end of the third calendar year following the date of
the Offer, the Beneficiary must exercise his not yet exercised Warrants within a six (6) month period as from the date on which his mandate comes to an end or from the date he is otherwise not involved anymore in the activities of the Company,
during an Exercise Period of two weeks to be determined by the Board of Directors. 
 If Cessation of the Director’s Mandate occurs prior to the third
anniversary of the Offer, subject to a dissident decision of the Board of Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants shall automatically become null and void as follows: 

 

	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Offer. 

If Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following the date of the Offer, a part of the granted Warrants
shall automatically become null and void as follows: 
  

	•	 	90 % in case the Cessation is situated prior to the first anniversary of the Offer; 

  

	•	 	80 % in case the Cessation is situated prior to the second anniversary of the Offer; 

  

	•	 	60 % in case the Cessation is situated prior to the third anniversary of the Offer; 

  

	•	 	40 % in case the Cessation is situated after the third anniversary of the Offer, but prior to the end of the third calendar year. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first day of the
fourth calendar year following the year of Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 
 Decease 

In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised
within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 Sickness or Disability 

In case of Cessation of the Director’s Mandate or the Consultancy agreement as a result of long term sickness or disability, the Warrants acquired by the
Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void.

  

			
	 Warrant Plan 2009 (B)
	  	p. 8/10

			
	Free translation for information purposes	  	

  

 Deviations 

The Board of Directors may at its discretion decide to deviate at any time from the provisions set forth in this section 8. 

 

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take appropriate measures
to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change of control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan may, if
required by the circumstances, be amended by the Company. The Beneficiary shall be informed of any such modifications and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm
the rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

 

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will be brought to
the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the area of Mechelen (Belgium) whereby all parties
involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and possible amendments thereof. 

Taxes and Social Security Treatment 
 The Company shall be
entitled, in accordance with the applicable regulations, to apply a withholding on the compensation for the month in which the taxable moment occurs or on the compensation of any other following month, and/or the Beneficiary shall be obliged to pay
to the Company (if so required by the Company) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the fact that Warrants become susceptible of being exercised or of the exercise of the
Warrants or due or payable in respect of the delivery of the New Shares. 
 The Company shall be entitled, in accordance with the applicable regulations, to
prepare the required reports, necessary as a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 

Costs 
 Stamp duties, stock exchange taxes and similar
charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

  

			
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	Free translation for information purposes	  	

  

 Relationship with the Director’s mandate or consultancy or management agreement 

No person has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary a right to have additional Warrants granted to
him later. The grant of Warrants under this Plan does not contain a promise of a continuous mandate or contract by the Company or its Subsidiaries. 

Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity resulting from his Director’s mandate or consultancy-
or management agreement concluded with the Company or a Subsidiary shall not be affected by his participation in the Plan or by any right that he may have to participate therein. 

An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation by reason of the cessation of his
Director’s mandate or consultancy- or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the rights he might have or the
claims he could make concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such mandate or agreement or by reason of the loss or decrease in value of the rights or benefits. 

General Shareholders’ Meetings 
 Warrant Holders have
the right to participate in the General Shareholders’ Meetings of the Company, but without voting right and only with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting.
By accepting Warrants, the Participant approves that convocations for General Shareholders’ Meeting are validly made if made by means of e-mail. 

Address Change 
 Warrant Holders are obliged to keep the
Company informed of changes to their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

*** 

  

			
	 Warrant Plan 2009 (B)
	  	p. 10/10

			
	Translation from Dutch original	  	

  

 WARRANTPLAN 2010 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

NOTE 
 This document is a translation in English of the
original Dutch text of this Warrant Plan 2010 as approved by the Board of Directors. In case of discrepancy between the original Dutch text and this translation, the original Dutch text shall prevail. 

  

					
	 Galapagos NV, Warrant Plan 2010 
	 	p. 1/8	  	

			
	Translation from Dutch original		

  

 TABLE OF CONTENTS 

 

							
	1.		Base and Purpose		 	3	  
			
	2.		Definitions		 	3	  
			
	3.		Warrants		 	4	  
			
	•		 General
		 	4	  
	•		 Number per beneficiary
		 	4	  
	•		 Transfer restrictions
		 	4	  
	•		 Exercise price
		 	4	  
	•		 Administration of the Warrant Plan
		 	5	  
			
	4.		Beneficiaries of the Plan		 	5	  
			
	5.		Acceptance or Refusal of the Offer		 	5	  
			
	6.		Exercise- and Payment Conditions		 	5	  
			
	•		 Exercise Term
		 	5	  
	•		 Exercise Period
		 	5	  
	•		 Conditions of Exercise
		 	6	  
	•		 Exercise of Warrants in accordance with the Law
		 	6	  
			
	7.		Issue of the New Shares		 	6	  
			
	8.		Cessation of the Employment or Service Relationship		 	6	  
			
	•		 Cessation of Employment or Service Relationship
		 	6	  
	•		 Decease
		 	7	  
	•		 Retirement
		 	7	  
	•		 Sickness or disability
		 	7	  
	•		 Deviations
		 	7	  
			
	9.		Protective measures		 	7	  
			
	10.		Dispute Resolution		 	7	  
			
	11.		Closing Provisions		 	7	  
			
	•		 Additional Information
		 	7	  
	•		 Taxes and Social Security Treatment
		 	7	  
	•		 Costs
		 	8	  
	•		 Relationship with the employment agreement or consultancy- or management agreement
		 	8	  
	•		 General Shareholders’ Meetings
		 	8	  
	•		 Address change
		 	8	  

  

					
	 Galapagos NV, Warrant Plan 2010 
		p. 2/8		

			
	Translation from Dutch original	  	

  

	1.	BASE AND PURPOSE 

 The Board of Directors of GALAPAGOS NV
(hereinafter referred to as “the Company”) has approved the present Warrant Plan 2010 by resolution of 26 March 2010 (and notary deed of 27 April 2010). 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub 2 Definitions: “Beneficiary” and sub 4 Beneficiaries
of the Plan) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the meanings given
below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire Warrants in accordance
with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: the Employees and Consultants of the Company and its Subsidiaries whose name is mentioned in Annex A to this Warrant Plan 2010. The
possibility to acquire Warrants may be granted by the Board of Directors in secondary order and on an individual basis to other persons who contributed to the Company or its Subsidiaries in the performance of their professional activities; 

Consultant: a natural or legal person who on a contractual basis provides services to the Company or a Subsidiary, but who is not a Employee
(irrespective whether the contract was entered into directly with the relevant natural or legal person - or in case of a natural person – with a legal person who has entrusted the performance of the services to such natural person); 

Control: the competence de jure or de facto to have a decisive influence on the appointment of the majority of the Directors or on the
orientation of the management, as determined in article 5 et seq. of the Code of Companies; 
 Participant: a Beneficiary who has accepted the Offer
and to whom one or more Warrants have been granted in accordance with this Plan; 
 Subsidiary: a company under the Control of the Company, as set
forth in article 6 of the Code of Companies; 
 Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of
the Employment agreement between the relevant Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company
controlled by the Participant) as a Consultant or Employee, with the Company or a Subsidiary; 
 Cessation of the Consultancy agreement: the
effective date of the cessation for whatever reason of the Consultancy- or management agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous
(other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Consultant or Employee, with the Company or a Subsidiary; 

New Shares: the shares of the Company to be issued pursuant to the exercise of the Warrants under this Plan; 

Plan: the present Warrant Plan 2010 approved by the Board of Directors, as amended from time to time by the Board of Directors in accordance with the
provisions of this Plan; 
 Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the moment on which the Beneficiary accepts the Warrants offered. The Grant is for fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 
 Exercise: to make use of the right
attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 

  

					
	 Galapagos NV, Warrant Plan 2010 
	 	p. 3/8	  	

			
	Translation from Dutch original	  	

  

 Exercise Term: the term during which the Beneficiary can exercise his Warrants to acquire Shares of
the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 
 Exercise
Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can be Exercised; 

Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen, Belgium; 

Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term and the Exercise Period and at the
Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract; 

Words and terms denoting the plural shall include the singular and vice versa. 
  

	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is maximum 616,000. These Warrants will be designated as “Warrants 2010”. The detail of
the number of Warrants per Beneficiary, offered under this Plan, is set forth in Annex A to this Plan. 
 The Warrants are granted by the Company to the
Beneficiaries for free. 
 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Offers under this Plan do not need to be the same for every Beneficiary. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiaries is determined by the Board of Directors and is set forth in Annex A. 
 Transfer restrictions 

The Warrants received are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 

The Warrant cannot be encumbered by any pledge or in any other manner. 

Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and void. 

Exercise Price 
 The Board of Directors shall determine
the Exercise Price per Warrant at the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the date of the
Offer, the Exercise Price of the Warrants will, at the election of the Board of Directors, at least be equal to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or (b) the average
of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. For an Offer to a Consultant the Exercise Price will, in accordance with article 598 of the Code of Companies, be fixed as the
average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than 5.41 euro, i.e. the fractional value (rounded up to the higher
eurocent) of the Shares at the date of the issuance of the Warrants. 
 Upon Exercise and subsequent capital increase the Exercise Price must be booked as
capital for an amount equal to the fractional value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be booked as an issuance
premium. 
 In deviation of article 501 of the Code of Companies and without prejudice to the exceptions provided by law, the Company, represented by the
Board of Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that may
otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that these
decisions might cause a reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction of benefits. 

  

					
	 Galapagos NV, Warrant Plan 2010 
	 	p. 4/8	  	

			
	Translation from Dutch original	  	

  

 Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder
shall not be entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make
modifications to (i) the number of shares that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder.

 In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be
adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company is
responsible for the management and the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4.	BENEFICIARIES OF THE PLAN 

 Beneficiaries are
the individuals as indicated in section 2 (“Definitions – Beneficiary”). 
 Employees, whose employment contract with the Company or a
Subsidiary is temporarily suspended because of a foreign assignment (“expatriates”), may also be designated as Beneficiary. 
 The Board of
Directors is free to designate or exclude other persons as Beneficiary. 
 The Warrants under this Plan are in majority reserved for and granted to
Employees. The Board of Directors will ensure that the number of Beneficiaries consists in minority of Consultants and in majority of Employees. The Board of Directors will also ensure that a majority of the issued Warrants will be reserved for and
granted to Employees. 
  

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the
Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the
register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will
receive a confirmation of the number of Warrants he has accepted. 
 The Nomination- and Remuneration Committee may decide to replace or complete the Notice
of Acceptance by or with a written Warrant Agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination- and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been issued by notary deed establishing the acceptance. 

 

	6.	EXERCISE- AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is eight (8) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised prior to the end of the third calendar year following the calendar year in which the Offer has been made. 

Between the commencement of the fourth calendar year following the year in which the Offer has been made and the fourth anniversary of the Offer maximum 60%
of the granted Warrants may be exercised during an Exercise Period. 

  

					
	 Galapagos NV, Warrant Plan 2010 
	 	p. 5/8	  	

			
	Translation from Dutch original	  	

  

 The provision of the previous paragraph is however expressly not applicable to Warrant Holders who are
subject to income taxes in France and/or to social security contributions in France; these Warrant Holders can only exercise Warrants as from the fourth anniversary of their Offer. 

As of the fourth anniversary of the Offer all granted Warrants may be exercised without any restriction as to the number of vested warrants. 

The Board of Directors will establish at least one Exercise Period of two weeks per semester. It is the responsibility of the Beneficiary to timely seek
information from the Company relating to the establishment of Exercise Periods. 
 The Board of Directors may decide, in accordance with the applicable
rules relating to abuse of insider information, to establish closed periods during which the Warrants cannot be exercised. 
 Conditions of Exercise

 Individual Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board of Directors or
to an authorized person designated by the Board of Directors, and needs at the same time to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be exercised. The
Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain exercisable at a
later stage insofar the Exercise Term has not expired. 
 Exercise of the Warrants in accordance with the Law 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Board of Directors, until such time the Warrant would have become exercisable in accordance with the Plan. 
  

	7.	ISSUE OF THE NEW SHARES 

 The
Company shall only be obliged to issue New Shares pursuant to the Exercise unless all exercise conditions set forth in chapter 6 have been complied with. 

As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the shares resulting from the exercise of Warrants, the Company may propose to the Participants who have
complied with the Exercise conditions to receive existing shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing shares subject to the condition that they sign an authorization by
which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who advanced them the existing shares. 

The Board of Directors has granted power of attorney to two (2) members of the Board of Directors or to the managing Director, with possibility of
sub-delegation, to take care of the establishment by notary deed of the acceptance of the Warrants offered, the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the
corresponding realization of the capital increase, the allocation to the unavailable account “issuance premiums” of the difference between the subscription price for the shares and the fractional value, to bring the Articles of Association
in accordance with the new situation of the social capital, to sign and deliver the relevant Euroclear documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of
the Warrants) to the Beneficiaries. 
 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon
as they have been issued. The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE EMPLOYMENT- OR SERVICE RELATIONSHIP 

Cessation of the employment- or service relationship 
 In
case of Cessation of the Employment agreement or Cessation of the Consultancy agreement after the end of the third calendar year following the date of the Offer, the Beneficiary will have time to exercise his not yet exercised Warrants within a six
(6) month period as from the date on which he leaves employment or is otherwise no longer involved in the activities of the Company during an Exercise Period of two weeks to be determined by the Board of Directors. 

  

					
	 Galapagos NV, Warrant Plan 2010 
	 	p. 6/8	  	

			
	Translation from Dutch original	  	

  

 If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of
the third calendar year following the date of the Offer, a part of the granted Warrants shall automatically become null and void as follows: 
  

	•	 	90 % in case the Cessation is situated prior to the first anniversary of the Offer; 

  

	•	 	80 % in case the Cessation is situated prior to the second anniversary of the Offer; 

  

	•	 	60 % in case the Cessation is situated prior to the third anniversary of the Offer; 

  

	•	 	40 % in case the Cessation is situated after the third anniversary of the Offer, but prior to the end of the third calendar year. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as from the first day of the
fourth calendar year following the year of the Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 
 Decease

 In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 Sickness or Disability 

In case of cessation of the employment agreement as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Deviations 
 The Board of Directors may at its discretion
decide to deviate at any time from the provisions set forth in this chapter 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take appropriate measures
to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change in the control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan will, if
required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the
rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

 

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will be brought to
the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Mechelen (Belgium) whereby all
parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and possible amendments thereto. 

Taxes and Social Security Treatment 
 The Company or a
Subsidiary shall be entitled, in accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other
following month, and/or the Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the
grant, the acceptance, the fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

  

					
	 Galapagos NV, Warrant Plan 2010 
	 	p. 7/8	  	

			
	Translation from Dutch original	  	

  

 The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare
the required reports, necessary as a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 

Costs 
 Stamp duties, stock exchange taxes and similar
charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

Relationship with the employement agreement, or consultancy- or management agreement 

No person has a right to participate in this Plan and a participation in this Plan does not give the Beneficiaries a right to future grants of additional
Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or Subsidiaries. 
 Notwithstanding any
provision of the Plan, the rights and obligations of any individual or entity as determined in the provisions of his/her employment agreement or consultancy- or management agreement concluded with the Company or a Subsidiary shall not be affected by
his/her participation in the Plan or by any right that he/she may have to participate therein. 
 An individual to whom Warrants are granted in accordance
with the Plan shall not be entitled to any damages or compensation as a result of the cessation of his mandate, employment agreement or consultancy- or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the
extent that these rights would arise or might arise based on the cessation of the rights he/she might have or the claims he/she could make concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such agreement or by
reason of the loss or decrease in value of the rights or benefits. 
 General Shareholders’ Meetings 

Warrant Holders have the right to participate in the General Shareholders’ Meetings of the Company, but without voting right and only with an advisory
voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. By accepting Warrants, the Participant consents that convocations for General Shareholders’ Meeting are validly made if made by
means of e-mail. 
 Address Change 
 Warrant Holders are
obliged to keep the Company informed of changes to their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

*** 

  

					
	 Galapagos NV, Warrant Plan 2010 
	 	p. 8/8	  	

			
	Free translation for information purposes	  	

  

 WARRANTPLAN 2010 (B)

ON SHARES OF 

GALAPAGOS NV 

GENERAL RULES 

NOTE 
 This document is a translation in English of the
original Dutch text of this Warrant Plan 2010 (B) as approved by the Extraordinary General Shareholders’ Meeting. In case of discrepancy between the original Dutch text and this translation, the original Dutch text shall prevail. 

  

			
	 Galapagos NV, Warrant Plan 2010 (B)
	  	p. 1/7

			
	Free translation for information purposes		

  

 TABLE OF CONTENTS 

 

							
	1.		Base and Purpose		 	3	  
			
	2.		Definitions		 	3	  
			
	3.		Warrants		 	4	  
			
	•		 General
		 	4	  
	•		 Number per beneficiary
		 	4	  
	•		 Transfer restrictions
		 	4	  
	•		 Exercise price
		 	4	  
	•		 Administration of the Warrant Plan
		 	5	  
			
	4.		Beneficiaries of the Plan		 	5	  
			
	5.		Acceptance or Refusal of the Offer		 	5	  
			
	6.		Exercise- and Payment Conditions		 	5	  
			
	•		 Exercise Term
		 	5	  
	•		 Exercise Period
		 	5	  
	•		 Conditions of Exercise
		 	5	  
	•		 Exercise of Warrants in accordance with the Law
		 	6	  
			
	7.		Issue of the New Shares		 	6	  
			
	8.		Cessation of the Director’s mandate		 	6	  
			
	•		 Cessation of the Director’s mandate
		 	6	  
	•		 Decease
		 	6	  
	•		 Retirement
		 	6	  
	•		 Sickness or disability
		 	6	  
	•		 Deviations
		 	7	  
			
	9.		Protective measures		 	7	  
			
	10.		Dispute Resolution		 	7	  
			
	11.		Closing Provisions		 	7	  
			
	•		 Additional Information
		 	7	  
	•		 Taxes and social security treatment
		 	7	  
	•		 Costs
		 	7	  
	•		 Relationship with Director’s Mandate
		 	7	  
	•		 General Shareholders’ Meetings
		 	7	  
	•		 Address change
		 	7	  

  

			
	 Galapagos NV, Warrant Plan 2010 (B)
		p. 2/7

			
	Free translation for information purposes	  	

  

	1.	BASE AND PURPOSE 

 The Extraordinary General
Shareholders’ Meeting of GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2010 (B) in its meeting of 27 April 2010. 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub section 2 “Definitions - Beneficiary”) of the
conditions under which it is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the meanings given
below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire Warrants in accordance
with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: each of the following Directors (subject to their being (re-)appointed as Director as the case may be): Mr Onno van de Stolpe, Dr Raj
Parekh, Dr Harrold van Barlingen, Mr Ferdinand Verdonck, Dr Garth Rapeport, Dr Werner Cautreels and Dr Ronald Brus. 
 Directors: the individuals or
corporations who at any moment during the existence of the Company exercise a director’s mandate in the Company to which they were appointed by either the General Shareholders’ Meeting or the Board of Directors by way of cooptation; 

Control: the competence de jure or de facto to have a decisive influence on the appointment of the majority of its Directors or on the
orientation of its management, as determined in article 5 et seq. of the Code of Companies; 
 Participant: a Beneficiary who has accepted the Offer
and to whom one or more Warrants have been granted in accordance with this Plan; 
 Subsidiary: a company under the Control of the Company, as set
forth in article 6 of the Code of Companies; 
 Cessation of the Director’s Mandate: the effective date of the cessation for whatever reason of
the Director’s Mandate exercised by the relevant Participant-Director with either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company
controlled by the Participant) as a Director, consultant or employee, with the Company or a Subsidiary; 
 New Shares: the shares of the Company to
be issued pursuant to the exercise of the Warrants under this Plan; 
 Plan: the present Warrant Plan 2010 (B) issued by the Extraordinary
Shareholders’ Meeting of 27 April 2010, as amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 

Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer if the Offer is accepted within sixty days as from the date of the Offer; 
 Exercise: to make use of the right
attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 

Exercise Term: the term in which the Beneficiary can exercise Warrants to acquire Shares in the Company, taking into account the specific Exercise
Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 
 Exercise Period: a period of two weeks within the Exercise
Term, to be determined by the Board of Directors, during which Warrants can be Exercised; 

  

			
	 Galapagos NV, Warrant Plan 2010 (B)
	  	p. 3/7

			
	Free translation for information purposes	  	

  

 Company: the limited liability company Galapagos, having its registered office at Generaal De
Wittelaan, L11 A3, 2800 Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the
Exercise Term and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Words and terms denoting the plural shall include the singular and vice versa. 
  

	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is of maximum 197,560. These Warrants will be designated as “Warrants 2010 (B)”. 

The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiaries under the Warrant Plan 2010 (B) will be determined by the General Shareholders’ Meeting of the Company, as follows: 
  

	 	•	 	to Mr Onno van de Stolpe: 100,000 Warrants; 

  

	 	•	 	to Dr Raj Parekh: 75,000 Warrants; 

  

	 	•	 	to Dr Harrold van Barlingen: 7,500 Warrants; 

  

	 	•	 	to Mr Ferdinand Verdonck, Dr Garth Rapeport and Dr Werner Cautreels: each 2,520 Warrants; 

  

	 	•	 	to Dr Ronald Brus: 7,500 Warrants. 

 Transfer restrictions 

The Warrants received are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 

The Warrant cannot be encumbered by any pledge or in any other manner. 

Warrants that, in contravention with the foregoing, are transferred or encumbered shall become legally null and void. 

Exercise Price 
 The Exercise Price per Warrant shall be
determined at the moment of the Offer in accordance with the provisions set forth below. 
 As the Shares of the Company are listed or traded on a regulated
market at the date of the Offer, the Exercise Price of the Warrants offered to a Director will, in accordance with article 598 of the Code of Companies, not be lower than the average of the closing price of the Share of the Company during the last
thirty (30) days preceding the date of the Offer. In no event will the exercise price be lower than 5.41 euro, i.e. the fractional value (rounded up to the higher eurocent) of the shares at the date of the issuance of the Warrants. 

Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital for an amount equal to the fractional value of the Shares at the
moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be recorded as an issuance premium. 

In derogation of article 501 of the Code of Companies and without prejudice the exceptions provided by law, the Company, represented by the Board of
Directors, expressly reserves the right to take any possible decisions and to carry out any transactions which might have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that may otherwise affect the
rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that these decisions might cause a
reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction. 
 Should the
rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other)
compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the number of Shares that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the
Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 
 In case of a merger, split-up or stock-split of the
Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be adjusted in accordance with the conversion ration applicable at the occasion of the merger, split-up or the stock-split to the other shareholders.

  

			
	 Galapagos NV, Warrant Plan 2010 (B)
	  	p. 4/7

			
	Free translation for information purposes	  	

  

 Administration of the Warrant Plan 

The Company is responsible for the management and the administration of the Plan and makes sure that all questions of Beneficiaries or Warrant Holders are
answered in an accurate and fast manner. 
  

	4.	BENEFICIARIES OF THE PLAN 

Beneficiaries are the individuals as indicated in section 2 (“Definitions – Beneficiaries”). 

The Warrants under this Plan are exclusively for the benefit of Directors. 
  

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the
Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the
register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will
receive a confirmation of the number of Warrants he has accepted. 
 The Beneficiary who has accepted the offered Warrants will receive the Warrants as soon
as the Board of Directors has established the acceptance. 
  

	6.	EXERCISE AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is five (5) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised prior the end of the third calendar year following the calendar year in which the Offer has been made. 

Between the commencement of the fourth calendar year following the one in which the Offer has been made and the fourth anniversary of the Offer maximum 60% of
the granted Warrants may be exercised during an Exercise Period. 
 As of the fourth anniversary of the Offer all granted Warrants may be exercised without
any restriction as to the number of vested warrants, during an Exercise Period. 
 The Board of Directors will establish at least one Exercise Period of two
weeks per semester. It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 

The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed periods during which
the Warrants cannot be exercised insofar the exercise Term has not expired. 
 Conditions of Exercise 

Individual Warrants can only be exercised as a whole. 
 In order
to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board of Directors or to an authorized person designated by the Board of Directors, and needs at the same time to pay the
Exercise Price into a bank account designated by the Company and opened in the name of the Company. 
 On the exercise form, the Warrant Holder needs to
mention the number of Warrants he desires to exercise. 
 In case the bank account is not or not sufficiently credited prior to the end of the Exercise
Period, the Warrants will be deemed not to be exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants
will consequently not be lost and remain exercisable at a later stage, insofar that the Exercise Term has not expired. 

  

			
	 Galapagos NV, Warrant Plan 2010 (B)
	  	p. 5/7

			
	Free translation for information purposes	  	

  

 Exercise of the Warrants in accordance with the Code of Companies 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Company, until such time the Warrant would have become exercisable in accordance with the Plan. 
  

	7.	ISSUE OF THE NEW SHARES 

The Company shall only be obliged to issue New Shares pursuant to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied
with. 
 As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the Shares resulting from the exercise of Warrants, the Company, represented by the Board of Directors,
can propose to the Participants who have complied with the Exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing Shares subject to the
condition that they sign an authorization by which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who provided them with the advance. 

The General Shareholders’ Meeting has granted power of attorney to two members of the Board of Directors or to the managing Director, with possibility of
sub-delegation, to take care of the establishment by notary deed of the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital
increase, the allocation to the unavailable account “issuance premiums” of the difference in the exercise price between the subscription price for the shares and the fractional value, to bring the Articles of Association in accordance with
the new situation of the social capital, to sign and deliver the relevant Euroclear and bank documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of the
Warrants) to the Beneficiaries. 
 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as
they have been issued. The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE DIRECTOR’S MANDATE 

Cessation of the Director’s Mandate 
 In case of
Cessation of the Director’s Mandate after the end of the third calendar year following the date of the Offer, the Beneficiary must exercise his not yet exercised Warrants within a six (6) month period as from the date on which his mandate
comes to an end or from the date he is otherwise not involved anymore in the activities of the Company, during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Director’s Mandate occurs prior to the third anniversary of the Offer, subject to a dissident decision of the Board of Directors
taken after the Cessation of the Director’s Mandate, a part of the granted Warrants shall automatically become null and void as follows: 
  

	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Offer. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first day of the fourth
calendar year following the year of Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 
 Decease 

In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised
within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 Sickness or Disability 

In case of Cessation of the Director’s Mandate as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory
be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

  

			
	 Galapagos NV, Warrant Plan 2010 (B)
	  	p. 6/7

			
	Free translation for information purposes	  	

  

 Deviations 

The Board of Directors may at its discretion decide to deviate at any time from the provisions set forth in this chapter 8. 

 

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take
appropriate measures to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change in the control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan may, if
required by the circumstances, be amended by the Company. The Beneficiary shall be informed of any such modifications and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm
the rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

 

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will
be brought to the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the area of Mechelen (Belgium) whereby
all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and amendments thereof as the case may be. 

Taxes and Social Security Treatment 
 The Company shall be
entitled, in accordance with the applicable regulations, to apply a withholding on the compensation for the month in which the taxable moment occurs or on the compensation of any other following month, and/or the Beneficiary shall be obliged to pay
to the Company (if so required by the Company) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the fact that Warrants become susceptible of being exercised or of the exercise of the
Warrants or due or payable in respect of the delivery of the New Shares. 
 The Company shall be entitled, in accordance with the applicable regulations, to
prepare the required reports, necessary as a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 

Costs 
 Stamp duties, stock exchange taxes and similar
charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

Relationship with the Director’s mandate 
 No person
has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary a right to have additional Warrants granted to him later. The grant of Warrants under this Plan does not contain a promise of a continuous mandate
or contract by the Company or its Subsidiaries. 
 Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity
resulting from his Director’s mandate shall not be affected by his participation in the Plan or by any right that he may have to participate therein. 

An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation by reason of the cessation of his
Director’s mandate, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the rights he might have or the claims he could make concerning the exercise of the Warrants pursuant to
the Plan because of the cessation of such mandate or by reason of the loss or decrease in value of the rights or benefits. 
 General Shareholders’
Meetings 
 Warrant Holders have the right to participate in the General Shareholders’ Meetings of the Company, but without voting right and only
with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. By accepting Warrants, the Participant consents that convocations for General Shareholders’ Meeting are validly
made if made by means of e-mail. 
 Address Change 

Warrant Holders are obliged to keep the Company informed of changes to their address and changes to their e-mail address. Communications sent by the Company to
the last known address or e-mail address of the Participant are validly made. 
 *** 

  

			
	 Galapagos NV, Warrant Plan 2010 (B)
	  	p. 7/7

			
	Translation from Dutch original	  	

  

 WARRANTPLAN 2010 (C) 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

NOTE 
 This document is a translation in English of the
original Dutch text of this Warrant Plan 2010 (C) as approved by the Galapagos NV Board of Directors on 23 December 2010. In case of discrepancy between the original Dutch text and this translation, the original Dutch text shall prevail.

  

					
	 Galapagos NV, Warrant Plan 2010 (C)
	 	p. 1/8	  	

			
	Translation from Dutch original		

  

 TABLE OF CONTENTS 

 

							
	 1.
		 Base and Purpose
		 	3	  
			
	 2.
		 Definitions
		 	3	  
			
	 3.
		 Warrants
		 	4	  
		
	 •       General
		 	4	  
	 •       Number per beneficiary
		 	4	  
	 •       Transfer restrictions
		 	4	  
	 •       Exercise price
		 	4	  
	 •       Administration of the Warrant Plan
		 	4	  
			
	 4.
		 Beneficiary of the Plan
		 	5	  
			
	 5.
		 Acceptance or Refusal of the Offer
		 	5	  
			
	 6.
		 Exercise- and Payment Conditions
		 	5	  
		
	 •       Exercise Term
		 	5	  
	 •       Exercise Period
		 	5	  
	 •       Conditions of Exercise
		 	5	  
	 •       Exercise of Warrants in accordance with the Law
		 	6	  
			
	 7.
		 Issue of the New Shares
		 	6	  
			
	 8.
		 Cessation of the Employment or Service Relationship
		 	6	  
		
	 •       Cessation of Employment or Service Relationship
		 	6	  
	 •       Decease
		 	6	  
	 •       Retirement
		 	6	  
	 •       Sickness or disability
		 	7	  
	 •       Deviations
		 	7	  
			
	 9.
		 Protective measures
		 	7	  
			
	 10.
		 Dispute Resolution
		 	7	  
			
	 11.
		 Closing Provisions
		 	7	  
		
	 •       Additional Information
		 	7	  
	 •       Taxes and Social Security Treatment
		 	7	  
	 •       Costs
		 	7	  
	 •       Relationship with the employment agreement
		 	7	  
	 •       General Shareholders’ Meetings
		 	8	  
	 •       Address change
		 	8	  

  

					
	 Galapagos NV, Warrant Plan 2010 (C)
		p. 2/8		

			
	Translation from Dutch original	  	

  

	1.	BASE AND PURPOSE 

 The Board of Directors of
GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2010 (C) by resolution of 23 December 2010. 

With the Plan set forth hereafter the Company wants to inform the relevant Beneficiary (see infra sub 2 Definitions: “Beneficiary” and sub 4
Beneficiary of the Plan) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiary to help to develop the Company to a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the
meanings given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: Dr Radan Spaventi (Senior Vice President, Internal Outsourcing); 

Control: the competence de jure or de facto to have a decisive influence on the appointment of the majority of the Directors or on the
orientation of the management, as determined in article 5 et seq. of the Code of Companies; 
 Participant: a Beneficiary who has accepted the Offer
and to whom one or more Warrants have been granted in accordance with this Plan; 
 Subsidiary: a company under the Control of the Company, as set
forth in article 6 of the Code of Companies; 
 Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of
the Employment agreement between the relevant Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company
controlled by the Participant) as a consultant or Employee, with the Company or a Subsidiary; 
 New Shares: the shares of the Company to be issued
pursuant to the exercise of the Warrants under this Plan; 
 Plan: the present Warrant Plan 2010 (C) approved by the Board of Directors, as
amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 
 Board of Directors: the board of directors of
the Company; 
 Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the moment on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons (if applicable) deemed to take place
on the sixtieth day following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 
 Exercise: to make use
of the right attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 

Exercise Term: the term during which the Beneficiary can exercise his Warrants to acquire Shares of the Company, taking into account the specific
Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 
 Exercise Period: a period of two weeks within the
Exercise Term, to be determined by the Board of Directors, during which Warrants can be Exercised; 
 Company: the limited liability company
Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen, Belgium; 

  

					
	 Galapagos NV, Warrant Plan 2010 (C)
	 	p. 3/8	  	

			
	Translation from Dutch original	  	

  

 Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the
Exercise Term and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract; 

Words and terms denoting the plural shall include the singular and vice versa. 
  

	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is maximum 75,000. These Warrants will be designated as “Warrants 2010 (C)”. 

The Warrants are granted by the Company to the Beneficiary for free. 

Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiary is determined by the Board of Directors and is of 75,000. 
 Transfer restrictions 

The Warrants received are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to the Beneficiary. 

The Warrant cannot be encumbered by any pledge or in any other manner. 

Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and void. 

Exercise Price 
 The Board of Directors shall determine
the Exercise Price per Warrant at the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the date of the
Offer, the Exercise Price of the Warrants will, at the election of the Board of Directors, at least be equal to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or (b) the average
of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than 5.41 euro, i.e. the fractional value (rounded up to the higher eurocent)
of the Shares at the date of the issuance of the Warrants. 
 Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital for
an amount equal to the fractional value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be booked as an issuance premium.

 In deviation of article 501 of the Code of Companies and without prejudice to the exceptions provided by law, the Company, represented by the Board of
Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that may otherwise affect
the rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that these decisions might
cause a reduction of the benefits offered to the Warrant Holder, unless the only purpose of these decisions and transactions would be such reduction of benefits. 

Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a modification of the
Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the number of shares
that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be
adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company is
responsible for the management and the administration of the Plan and ensures that all questions of Beneficiary or Warrant Holder are answered accurately and rapidly. 

  

					
	 Galapagos NV, Warrant Plan 2010 (C)
	 	p. 4/8	  	

			
	Translation from Dutch original	  	

  

	4.	BENEFICIARY OF THE PLAN 

Beneficiary is the individual as indicated in section 2 (“Definitions – Beneficiary”). The Beneficiary is an Employee of a Subsidiary of the
Company. No Warrants are offered under this Plan to beneficiaries that are not an Employee of the Company or of a Subsidiary of the Company. 
  

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiary has the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established by
ticking the relevant paragraph in the Notice of Acceptance. 
 The Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his
decision regarding the Offer: Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set forth in
the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the
Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the
register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will
receive a confirmation of the number of Warrants he has accepted. 
 The Nomination- and Remuneration Committee may decide to replace or complete the Notice
of Acceptance by or with a written Warrant Agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination- and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been issued by notary deed establishing the acceptance. 

 

	6.	EXERCISE- AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is eight (8) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised prior to the end of the third calendar year following the calendar year in which the Offer has been made. 

Between the commencement of the fourth calendar year following the year in which the Offer has been made and the fourth anniversary of the Offer maximum 60%
of the granted Warrants may be exercised during an Exercise Period. 
 As of the fourth anniversary of the Offer all granted Warrants may be exercised
without any restriction as to the number of vested warrants. 
 The Board of Directors will establish at least one Exercise Period of two weeks per
semester. It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 
 The
Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed periods during which the Warrants cannot be exercised. 

Conditions of Exercise 
 Individual Warrants can only be
exercised as a whole. 
 In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to
the Board of Directors or to an authorized person designated by the Board of Directors, and needs at the same time to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be exercised. The
Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain exercisable at a
later stage insofar the Exercise Term has not expired. 

  

					
	 Galapagos NV, Warrant Plan 2010 (C)
	 	p. 5/8	  	

			
	Translation from Dutch original	  	

  

 Exercise of the Warrants in accordance with the Law 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Board of Directors, until such time the Warrant would have become exercisable in accordance with the Plan. 
  

	7.	ISSUE OF THE NEW SHARES 

The Company shall only be obliged to issue New Shares pursuant to the Exercise unless all exercise conditions set forth in chapter 6 have been complied with.

 As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the shares resulting from the exercise of Warrants, the Company may propose to the Participant who has
complied with the Exercise conditions to receive existing shares awaiting the issuance of New Shares by notary deed. In such case the Participant will receive an advance of existing shares subject to the condition that he signs an authorization by
which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who advanced him the existing shares. 

The Board of Directors has granted power of attorney to two (2) members of the Board of Directors or to the managing Director, with possibility of
sub-delegation, to take care of the establishment by notary deed of the acceptance of the Warrants offered, the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the
corresponding realization of the capital increase, the allocation to the unavailable account “issuance premiums” of the difference between the subscription price for the shares and the fractional value, to bring the Articles of Association
in accordance with the new situation of the social capital, to sign and deliver the relevant Euroclear documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of
the Warrants) to the Beneficiary. 
 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as
they have been issued. The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE EMPLOYMENT- OR SERVICE RELATIONSHIP 

Cessation of the employment- or service relationship 
 In
case of Cessation of the Employment agreement after the end of the third calendar year following the date of the Offer, the Beneficiary will have time to exercise his not yet exercised Warrants within a six (6) month period as from the date on
which he leaves employment or is otherwise no longer involved in the activities of the Company during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Employment agreement occurs prior to the end of the third calendar year following the date of the Offer, a part of the granted Warrants
shall automatically become null and void as follows: 
  

	•	 	90 % in case the Cessation is situated prior to the first anniversary of the Offer; 

  

	•	 	80 % in case the Cessation is situated prior to the second anniversary of the Offer; 

  

	•	 	60 % in case the Cessation is situated prior to the third anniversary of the Offer; 

  

	•	 	40 % in case the Cessation is situated after the third anniversary of the Offer, but prior to the end of the third calendar year. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as from the first day of the
fourth calendar year following the year of the Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 
 Decease

 In case of decease of the Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of the Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 

  

					
	 Galapagos NV, Warrant Plan 2010 (C)
	 	p. 6/8	  	

			
	Translation from Dutch original	  	

  

 Sickness or Disability 

In case of cessation of the employment agreement as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Deviations 
 The Board of Directors may at its discretion
decide to deviate at any time from the provisions set forth in this chapter 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take
appropriate measures to safeguard the interests of the Warrant Holder in case: 
  

	•	 	a fundamental change in the control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan will,
if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the
rights of the under this Plan existing Warrant Holder. In the event the rights of the under this Plan existing Warrant Holder would be harmed, the amendments may not be made without their agreement. 

 

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will
be brought to the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Mechelen (Belgium)
whereby all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and possible amendments thereto. 

Taxes and Social Security Treatment 
 The Company or a
Subsidiary shall be entitled, in accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other
following month, and/or the Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the
grant, the acceptance, the fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as a result of
grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
 Costs 

Stamp duties, stock exchange taxes and similar charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares
or existing shares shall be borne by the Warrant Holder. 
 Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the
Company. 
 Relationship with the employement agreement 

No person has a right to participate in this Plan and a participation in this Plan does not give the Beneficiary a right to future grants of additional
Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or Subsidiaries. 
 Notwithstanding any
provision of the Plan, the rights and obligations of any individual or entity as determined in the provisions of his employment agreement concluded with the Company or a Subsidiary shall not be affected by his participation in the Plan or by any
right that he may have to participate therein. 
 An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any
damages or compensation as a result of the cessation of his mandate, employment agreement or consultancy- or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these rights would arise or might
arise based on the cessation of the rights he/she might have or the claims he/she could make concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss or decrease in value of the
rights or benefits. 

  

					
	 Galapagos NV, Warrant Plan 2010 (C)
	 	p. 7/8	  	

			
	Translation from Dutch original	  	

  

 General Shareholders’ Meetings 

Warrant Holders have the right to participate in the General Shareholders’ Meetings of the Company, but without voting right and only with an advisory
voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. By accepting Warrants, the Participant consents that convocations for General Shareholders’ Meeting are validly made if made by
means of e-mail. 
 Address Change 
 Warrant Holders are
obliged to keep the Company informed of changes to their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

*** 

  

					
	 Galapagos NV, Warrant Plan 2010 (C)
	 	p. 8/8	  	

			
	Translation from Dutch original	  	

  

 WARRANTPLAN 2011 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

NOTE 
 This document is a translation in English of the
original Dutch text of this Warrant Plan 2011 as approved by the Board of Directors. In case of discrepancy between the original Dutch text and this translation, the original Dutch text shall prevail. 

  

					
	 Galapagos NV, Warrant Plan 2011
	 	p. 1/8	  	

			
	Translation from Dutch original		

  

 TABLE OF CONTENTS 

 

							
	 1.
		 Base and Purpose
		 	3	  
			
	 2.
		 Definitions
		 	3	  
			
	 3.
		 Warrants
		 	4	  
		
	 •       General
		 	4	  
	 •       Number per beneficiary
		 	4	  
	 •       Transfer restrictions
		 	4	  
	 •       Exercise price
		 	4	  
	 •       Administration of the Warrant Plan
		 	5	  
			
	 4.
		 Beneficiaries of the Plan
		 	5	  
			
	 5.
		 Acceptance or Refusal of the Offer
		 	5	  
			
	 6.
		 Exercise- and Payment Conditions
		 	5	  
		
	 •       Exercise Term
		 	5	  
	 •       Exercise Period
		 	5	  
	 •       Conditions of Exercise
		 	6	  
	 •       Exercise of Warrants in accordance with the Law
		 	6	  
	 •       Change in Control of the Company
		 	6	  
			
	 7.
		 Issue of the New Shares
		 	6	  
			
	 8.
		 Cessation of the Employment or Service Relationship
		 	7	  
		
	 •       Cessation of Employment or Service Relationship
		 	7	  
	 •       Decease
		 	7	  
	 •       Retirement
		 	7	  
	 •       Sickness or disability
		 	7	  
	 •       Deviations
		 	7	  
			
	 9.
		 Protective measures
		 	7	  
			
	 10.
		 Dispute Resolution
		 	7	  
			
	 11.
		 Closing Provisions
		 	7	  
		
	 •       Additional Information
		 	7	  
	 •       Taxes and Social Security Treatment
		 	8	  
	 •       Costs
		 	8	  
	 •       Relationship with the employment agreement or consultancy- or management
agreement
		 	8	  
	 •       General Shareholders’ Meetings
		 	8	  
	 •       Address change
		 	8	  

  

					
	 Galapagos NV, Warrant Plan 2011
		p. 2/8		

			
	Translation from Dutch original	  	

  

	1.	BASE AND PURPOSE 

 The Board of Directors of
GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2011 by resolution of 1 April 2011 (and notary deed of 23 May 2011). 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub 2 Definitions: “Beneficiary” and sub 4 Beneficiaries
of the Plan) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the
meanings given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: the Employees and Consultants of the Company and its Subsidiaries whose name is mentioned in Annex A to this Warrant Plan 2011. The
possibility to acquire Warrants may be granted by the Board of Directors in secondary order and on an individual basis to other persons who contributed to the Company or its Subsidiaries in the performance of their professional activities; 

Consultant: a natural or legal person who on a contractual basis provides services to the Company or a Subsidiary, but who is not a Employee
(irrespective whether the contract was entered into directly with the relevant natural or legal person - or in case of a natural person – with a legal person who has entrusted the performance of the services to such natural person); 

Control: the competence de jure or de facto to have a decisive influence on the appointment of the majority of the Directors or on the
orientation of the management, as determined in article 5 et seq. of the Code of Companies; 
 Participant: a Beneficiary who has accepted the Offer
and to whom one or more Warrants have been granted in accordance with this Plan; 
 Subsidiary: a company under the Control of the Company, as set
forth in article 6 of the Code of Companies; 
 Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of
the Employment agreement between the relevant Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company
controlled by the Participant) as a Consultant or Employee, with the Company or a Subsidiary; 
 Cessation of the Consultancy agreement: the
effective date of the cessation for whatever reason of the Consultancy- or management agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous
(other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Consultant or Employee, with the Company or a Subsidiary; 

New Shares: the shares of the Company to be issued pursuant to the exercise of the Warrants under this Plan; 

Plan: the present Warrant Plan 2011 approved by the Board of Directors, as amended from time to time by the Board of Directors in accordance with the
provisions of this Plan; 
 Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the moment on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth
day following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 
 Exercise: to make use of the right
attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 

  

					
	 Galapagos NV, Warrant Plan 2011
	 	p. 3/8	  	

			
	Translation from Dutch original	  	

  

 Exercise Term: the term during which the Beneficiary can exercise his Warrants to acquire Shares of
the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 
 Exercise
Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can be Exercised; 

Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen, Belgium; 

Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term and the Exercise Period and at the
Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract; 

Words and terms denoting the plural shall include the singular and vice versa. 
  

	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is maximum 802,500. These Warrants will be designated as “Warrants 2011”. The detail of
the number of Warrants per Beneficiary, offered under this Plan, is set forth in Annex A to this Plan. 
 The Warrants are granted by the Company to the
Beneficiaries for free. 
 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Offers under this Plan do not need to be the same for every Beneficiary. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiaries is determined by the Board of Directors and is set forth in Annex A. 
 Transfer restrictions 

The Warrants received are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 

The Warrant cannot be encumbered by any pledge or in any other manner. 

Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and void. 

Exercise Price 
 The Board of Directors shall determine
the Exercise Price per Warrant at the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the date of the
Offer, the Exercise Price of the Warrants will, at the election of the Board of Directors, at least be equal to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or (b) the average
of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. For an Offer to a Consultant the Exercise Price will, in accordance with article 598 of the Code of Companies, be fixed as the
average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than 5.41 euro, i.e. the fractional value (rounded up to the higher
eurocent) of the Shares at the date of the issuance of the Warrants. 
 Upon Exercise and subsequent capital increase the Exercise Price must be booked as
capital for an amount equal to the fractional value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be booked as an issuance
premium. 
 In deviation of article 501 of the Code of Companies and without prejudice to the exceptions provided by law, the Company, represented by the
Board of Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that may
otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that these
decisions might cause a reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction of benefits. 

  

					
	 Galapagos NV, Warrant Plan 2011
	 	p. 4/8	  	

			
	Translation from Dutch original	  	

  

 Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder
shall not be entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make
modifications to (i) the number of shares that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder.

 In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be
adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 

Administration of the Warrant Plan 
 The Company is
responsible for the management and the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4.	BENEFICIARIES OF THE PLAN 

Beneficiaries are the individuals as indicated in section 2 (“Definitions – Beneficiary”). 

Employees, whose employment contract with the Company or a Subsidiary is temporarily suspended because of a foreign assignment (“expatriates”), may
also be designated as Beneficiary. 
 The Board of Directors is free to designate or exclude other persons as Beneficiary. 

The Warrants under this Plan are in majority reserved for and granted to Employees. The Board of Directors will ensure that the number of Beneficiaries
consists in minority of Consultants and in majority of Employees. The Board of Directors will also ensure that a majority of the issued Warrants will be reserved for and granted to Employees. 

 

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the
Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the
register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will
receive a confirmation of the number of Warrants he has accepted. 
 The Nomination- and Remuneration Committee may decide to replace or complete the Notice
of Acceptance by or with a written Warrant Agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination- and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been issued by notary deed establishing the acceptance. 

 

	6.	EXERCISE- AND PAYMENT CONDITIONS 

Exercise Term 
 The Exercise Term is eight (8) years,
starting from the date of the Offer. 
 Exercise Period 

Warrants may not be exercised prior to the end of the third calendar year following the calendar year in which the Offer has been made. 

As of the commencement of the fourth calendar year following the year in which the Offer has been made all vested Warrants may be exercised, during an
Exercise Period. 

  

					
	 Galapagos NV, Warrant Plan 2011
	 	p. 5/8	  	

			
	Translation from Dutch original	  	

  

 The provision of the previous paragraph is however expressly not applicable to Warrant Holders who are
subject to income taxes in France and/or to social security contributions in France; these Warrant Holders can only exercise Warrants as from the fourth anniversary of their Offer. 

The Board of Directors will establish at least one Exercise Period of two weeks per semester. It is the responsibility of the Beneficiary to timely seek
information from the Company relating to the establishment of Exercise Periods. 
 The Board of Directors may decide, in accordance with the applicable
rules relating to abuse of insider information, to establish closed periods during which the Warrants cannot be exercised. 
 Conditions of Exercise

 Individual Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board of Directors or
to an authorized person designated by the Board of Directors, and needs at the same time to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be exercised. The
Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain exercisable at a
later stage insofar the Exercise Term has not expired. 
 Exercise of the Warrants in accordance with the Law 

In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely
exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not
transferable, except with the explicit prior consent of the Board of Directors, until such time the Warrant would have become exercisable in accordance with the Plan. 

Change in Control of the Company 
 Notwithstanding
anything to the contrary in this Plan, in the event of a change in control (as defined in accordance with the Belgian Code of Companies) of the Company, all Warrants granted to a Warrant Holder whose relationship with the Company or with a
Subsidiary has not ended prior to such change in control and whose Warrants have not all vested yet, shall, in principle, immediately vest and become immediately exercisable during an Exercise Period determined by the Board of Directors, provided,
however, that in compliance with applicable (tax) laws the Board of Directors is authorized to establish certain conditions for such vesting and/or exercising that will be applicable to some or all of the Warrant Holders involved. 

 

	7.	ISSUE OF THE NEW SHARES 

The Company shall only be obliged to issue New Shares pursuant to the Exercise unless all exercise conditions set forth in chapter 6 have been complied with.

 As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the shares resulting from the exercise of Warrants, the Company may propose to the Participants who have
complied with the Exercise conditions to receive existing shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing shares subject to the condition that they sign an authorization by
which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who advanced them the existing shares. 

The Board of Directors has granted power of attorney to two (2) members of the Board of Directors or to the managing Director, with possibility of
sub-delegation, to take care of the establishment by notary deed of the acceptance of the Warrants offered, the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the
corresponding realization of the capital increase, the allocation to the unavailable account “issuance premiums” of the difference between the subscription price for the shares and the fractional value, to bring the Articles of Association
in accordance with the new situation of the social capital, to sign and deliver the relevant Euroclear documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of
the Warrants) to the Beneficiaries. 
 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon
as they have been issued. The Company has not issued VVPR strips and has no intention to do so in the future. 

  

					
	 Galapagos NV, Warrant Plan 2011
	 	p. 6/8	  	

			
	Translation from Dutch original	  	

  

	8.	CESSATION OF THE EMPLOYMENT- OR SERVICE RELATIONSHIP 

Cessation of the employment- or service relationship 
 In
case of Cessation of the Employment agreement or Cessation of the Consultancy agreement after the end of the third calendar year following the date of the Offer, the Beneficiary will have time to exercise his not yet exercised Warrants within a six
(6) month period as from the date on which he leaves employment or is otherwise no longer involved in the activities of the Company during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following the year of
the Offer, all granted Warrants shall automatically become null and void. This principle does however not apply in the cases of cessation resulting from decease, retirement or sickness or disability. 

Decease 
 In case of decease of a Warrant Holder, all
Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not
exercised within such period will automatically become null and void. In case of decease prior to the end of the third calendar year following the year of the Offer, the number of Warrants acquired and so exercisable shall be determined by
multiplying the number of Warrants offered with the result of the following division: number of days between the date of the Offer and the date of decease / number of days between the date of the Offer and the end of the third calendar year
following the year of the Offer. 
 Retirement 
 In case
of Retirement of a Warrant Holder, the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not
exercised within such period will automatically become null and void. In case of Retirement prior to the end of the third calendar year following the year of the Offer, the number of Warrants acquired and so exercisable shall be determined by
multiplying the number of Warrants offered with the result of the following division: number of days between the date of the Offer and the date of Retirement / number of days between the date of the Offer and the end of the third calendar year
following the year of the Offer. As used herein, “Retirement” shall mean any Cessation of the Employment agreement or Cessation of the Consultancy agreement, other than for cause, effected on or after the earliest date at which the Warrant
Holder can receive state pension entitlement. 
 Sickness or Disability 

In case of cessation of the employment agreement as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be
exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. In case of such cessation prior to
the end of the third calendar year following the year of the Offer, the number of Warrants acquired and so exercisable shall be determined by multiplying the number of Warrants offered with the result of the following division: number of days
between the date of the Offer and the date of such cessation / number of days between the date of the Offer and the end of the third calendar year following the year of the Offer. 

Deviations 
 The Board of Directors may at its discretion
decide to deviate at any time from the provisions set forth in this chapter 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors is authorized
to take appropriate measures to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change in the control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan will,
if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the
rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

 

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will
be brought to the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Mechelen (Belgium)
whereby all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and possible amendments thereto. 

  

					
	 Galapagos NV, Warrant Plan 2011
	 	p. 7/8	  	

			
	Translation from Dutch original	  	

  

 Taxes and Social Security Treatment 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation
for the month in which the taxable moment occurs or on the cash salary or the compensation of any other following month, and/or the Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary)
the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the acceptance, the fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect
of the delivery of the New Shares. 
 The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the
required reports, necessary as a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 

Costs 
 Stamp duties, stock exchange taxes and similar
charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

Relationship with the employement agreement, or consultancy- or management agreement 

No person has a right to participate in this Plan and a participation in this Plan does not give the Beneficiaries a right to future grants of additional
Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or Subsidiaries. 
 Notwithstanding any
provision of the Plan, the rights and obligations of any individual or entity as determined in the provisions of his/her employment agreement or consultancy- or management agreement concluded with the Company or a Subsidiary shall not be affected by
his/her participation in the Plan or by any right that he/she may have to participate therein. 
 An individual to whom Warrants are granted in accordance
with the Plan shall not be entitled to any damages or compensation as a result of the cessation of his mandate, employment agreement or consultancy- or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the
extent that these rights would arise or might arise based on the cessation of the rights he/she might have or the claims he/she could make concerning the exercise of the Warrants pursuant to the Plan because of the cessation of such agreement or by
reason of the loss or decrease in value of the rights or benefits. 
 General Shareholders’ Meetings 

Warrant Holders have the right to participate in the General Shareholders’ Meetings of the Company, but without voting right and only with an advisory
voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. By accepting Warrants, the Participant consents that convocations for General Shareholders’ Meeting are validly made if made by
means of e-mail. 
 Address Change 
 Warrant Holders are
obliged to keep the Company informed of changes to their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

*** 

  

					
	 Galapagos NV, Warrant Plan 2011
	 	p. 8/8	  	

			
	Translation from Dutch original	  	

  

 WARRANT PLAN 2011 (B)

ON SHARES OF 

GALAPAGOS NV 

GENERAL RULES 

NOTE 
 This document is a translation in English of the
original Dutch text of this Warrant Plan 2010 (B) as approved by the Extraordinary General Shareholders’ Meeting. In case of discrepancy between the original Dutch text and this translation, the original Dutch text shall prevail. 

  

					
	 Galapagos NV, Warrant Plan 2011 (B)
	 	p. 1/8	  	

			
	Translation from Dutch original		

  

 TABLE OF CONTENTS 

 

							
	1.		Base and Purpose		 	3	  
			
	2.		Definitions		 	3	  
			
	3.		Warrants		 	4	  
			
	•		General		 	4	  
	•		Number per beneficiary		 	4	  
	•		Transfer restrictions		 	4	  
	•		Exercise price		 	4	  
	•		Administration of the Warrant Plan		 	5	  
			
	4.		Beneficiaries of the Plan		 	5	  
			
	5.		Acceptance or Refusal of the Offer		 	5	  
			
	6.		Exercise- and Payment Conditions		 	5	  
			
	•		Exercise Term		 	5	  
	•		Exercise Period		 	5	  
	•		Conditions of Exercise		 	5	  
	•		Exercise of Warrants in accordance with the Law		 	5	  
			
	7.		Issue of the New Shares		 	6	  
			
	8.		Cessation of the Director’s mandate		 	6	  
			
	•		Cessation of the Director’s mandate		 	6	  
	•		Decease		 	6	  
	•		Retirement		 	6	  
	•		Sickness or disability		 	7	  
	•		Deviations		 	7	  
			
	9.		Protective measures		 	7	  
			
	10.		Dispute Resolution		 	7	  
			
	11.		Closing Provisions		 	7	  
			
	•		Additional Information		 	7	  
	•		Taxes and social security treatment		 	7	  
	•		Costs		 	7	  
	•		Relationship with Director’s Mandate		 	7	  
	•		General Shareholders’ Meetings		 	7	  
	•		Address change		 	8	  

  

					
	 Galapagos NV, Warrant Plan 2011 (B)
		p. 2/8		

			
	Translation from Dutch original	  	

  

	1.	BASE AND PURPOSE 

 The Extraordinary General
Shareholders’ Meeting of GALAPAGOS NV (hereinafter referred to as “the Company”) has approved the present Warrant Plan 2011 (B) in its meeting of 23 May 2011. 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub section 2 “Definitions - Beneficiary”) of the
conditions under which it is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful enterprise. 

 

	2.	DEFINITIONS 

 In this Plan the words and terms mentioned hereunder have the meanings given
below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire Warrants in accordance
with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly executed, to the
Company, f.a.o. the managing director, for the acceptance of the Offer; 
 Shares: all shares of the Company; 

Beneficiary: each of the following Directors (subject to their being appointed as Director as the case may be):
Mr Onno van de Stolpe, Dr Raj Parekh, Dr Harrold van Barlingen, Mr Ferdinand Verdonck, Dr Werner Cautreels, Dr Ronald Brus, Mr Howard Rowe and Dr Vicki Sato. 

Directors: the individuals or corporations who at any moment during the existence of the Company exercise a director’s mandate in the Company to
which they were appointed by either the General Shareholders’ Meeting or the Board of Directors by way of cooptation; 
 Control: the competence
de jure or de facto to have a decisive influence on the appointment of the majority of its Directors or on the orientation of its management, as determined in article 5 et seq. of the Code of Companies; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan; 

Subsidiary: a company under the Control of the Company, as set forth in article 6 of the Code of Companies; 

Cessation of the Director’s Mandate: the effective date of the cessation for whatever reason of the Director’s Mandate exercised by the
relevant Participant-Director with either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company controlled by the Participant) as a Director,
consultant or employee, with the Company or a Subsidiary; 
 New Shares: the shares of the Company to be issued pursuant to the exercise of the
Warrants under this Plan; 
 Plan: the present Warrant Plan 2011 (B) issued by the Extraordinary Shareholders’ Meeting of
23 May 2011, as amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 
 Board of Directors:
the board of directors of the Company; 
 Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the date on which the Beneficiary accepts the Warrants offered. The Grant is for Belgian fiscal reasons deemed to take place on the sixtieth day
following the date of the Offer if the Offer is accepted within sixty days as from the date of the Offer; 
 Exercise: to make use of the right
attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the
pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 

Exercise Term: the term in which the Beneficiary can exercise Warrants to acquire Shares in the Company, taking into account the specific Exercise
Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 
 Exercise Period: a period of two weeks within the Exercise
Term, to be determined by the Board of Directors, during which Warrants can be Exercised; 

  

					
	 Galapagos NV, Warrant Plan 2011 (B)
	 	p. 3/8	  	

			
	Translation from Dutch original	  	

  

 Company: the limited liability company Galapagos, having its registered office at Generaal De
Wittelaan, L11 A3, 2800 Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the
Exercise Term and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Words and terms denoting the plural shall include the singular and vice versa. 
  

	3.	WARRANTS 

 General 

The number of Warrants issued in the framework of this Plan is of maximum 131,740. These Warrants will be designated as “Warrants 2011 (B)”. 

The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Number per Beneficiary 
 The number of Warrants to be
offered to the Beneficiaries under the Warrant Plan 2011 (B) will be determined by the General Shareholders’ Meeting of the Company, as follows: 
  

	 	•	 	to Mr Onno van de Stolpe: 100,000 Warrants; 

  

	 	•	 	to Dr Raj Parekh: 5,400 Warrants; 

  

	 	•	 	to Mr Ferdinand Verdock: 3,780 Warrants; 

  

	 	•	 	to Dr Harrold van Barlingen, Dr Werner Cautreels and Dr Ronald Brus: each 2,520 Warrants; 

  

	 	•	 	to Mr Howard Rowe and Dr Vicki Sato: each 7,500 Warrants. 

 Transfer restrictions 

The Warrants received are registered in the name of the Warrant Holder and cannot inter vivos be transferred once granted to a Beneficiary. 

The Warrant cannot be encumbered by any pledge or in any other manner. 

Warrants that, in contravention with the foregoing, are transferred or encumbered shall become legally null and void. 

Exercise Price 
 The Exercise Price per Warrant shall be
determined at the moment of the Offer in accordance with the provisions set forth below. 
 As the Shares of the Company are listed or traded on a regulated
market at the date of the Offer, the Exercise Price of the Warrants offered to a Director will, in accordance with article 598 of the Code of Companies, not be lower than the average of the closing price of the Share of the Company during the last
thirty (30) days preceding the date of the Offer. In no event will the exercise price be lower than 5.41 euro, i.e. the fractional value (rounded up to the higher eurocent) of the shares at the date of the issuance of the Warrants. 

Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital for an amount equal to the fractional value of the Shares at the
moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the fractional value must be recorded as an issuance premium. 

In derogation of article 501 of the Code of Companies and without prejudice the exceptions provided by law, the Company, represented by the Board of
Directors, expressly reserves the right to take any possible decisions and to carry out any transactions which might have an impact on its capital, on the distribution of the profit or on the liquidation surpluses or that may otherwise affect the
rights of the Warrant Holders (with the exception of those causing an increase of the fractional value of the existing shares (in order not to conflict with article 582 of the Code of Companies)), even in the event that these decisions might cause a
reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction. 
 Should the
rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other)
compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the number of Shares that relates to one Warrant or (ii) the Exercise Price. As soon as reasonably practicable the
Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 
 In case of a merger, split-up or stock-split of the
Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants shall be adjusted in accordance with the conversion ration applicable at the occasion of the merger, split-up or the stock-split to the other shareholders.

  

					
	 Galapagos NV, Warrant Plan 2011 (B)
	 	p. 4/8	  	

			
	Translation from Dutch original	  	

  

 Administration of the Warrant Plan 

The Company is responsible for the management and the administration of the Plan and makes sure that all questions of Beneficiaries or Warrant Holders are
answered in an accurate and fast manner. 
  

	4.	BENEFICIARIES OF THE PLAN 

 Beneficiaries are
the individuals as indicated in section 2 (“Definitions – Beneficiaries”). 
 The Warrants under this Plan are exclusively for the benefit of
Directors. 
  

	5.	ACCEPTANCE OR REFUSAL OF THE OFFER 

The Beneficiaries have the possibility to accept the individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established
by ticking the relevant paragraph in the Notice of Acceptance. 
 Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions
his/her decision regarding the Offer: Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set
forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to have refused the
Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the
register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants held by them. The Warrant Holder will
receive a confirmation of the number of Warrants he has accepted. 
 The Beneficiary who has accepted the offered Warrants will receive the Warrants as soon
as the Board of Directors has established the acceptance. 
  

	6.	EXERCISE AND PAYMENT CONDITIONS 

 Exercise
Term 
 The Exercise Term is five (5) years, starting from the date of the Offer. 

Exercise Period 
 Warrants may not be exercised prior the
end of the third calendar year following the calendar year in which the Offer has been made. 
 As of the commencement of the fourth calendar year following
the year in which the Offer has been made all vested Warrants may be exercised, during an Exercise Period. 
 The Board of Directors will establish at least
one Exercise Period of two weeks per semester. It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 

The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed periods during which
the Warrants cannot be exercised insofar the exercise Term has not expired. 
 Conditions of Exercise 

Individual Warrants can only be exercised as a whole. 
 In order
to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board of Directors or to an authorized person designated by the Board of Directors, and needs at the same time to pay the
Exercise Price into a bank account designated by the Company and opened in the name of the Company. 
 On the exercise form, the Warrant Holder needs to
mention the number of Warrants he desires to exercise. 
 In case the bank account is not or not sufficiently credited prior to the end of the Exercise
Period, the Warrants will be deemed not to be exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants
will consequently not be lost and remain exercisable at a later stage, insofar that the Exercise Term has not expired. 
 Exercise of the Warrants in
accordance with the Code of Companies 
 In case a Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as
specified in the Plan), becomes prematurely exercisable pursuant to article 501 of the Code of Companies and is thus also prematurely exercised pursuant to 

  

					
	 Galapagos NV, Warrant Plan 2011 (B)
	 	p. 5/8	  	

			
	Translation from Dutch original	  	

  

 
article 501 of the Code of Companies, the New Shares that the Warrant Holders receives as a result of such Exercise will be not transferable, except with the explicit prior consent of the
Company, until such time the Warrant would have become exercisable in accordance with the Plan. 
 Change in Control of the Company 

Notwithstanding anything to the contrary in this Plan, in the event of a change in control (as defined in accordance with the Belgian Code of Companies) of the
Company, all Warrants granted to a Warrant Holder whose relationship with the Company or with a Subsidiary has not ended prior to such change in control and whose Warrants have not all vested yet, shall, in principle, immediately vest and become
immediately exercisable during an Exercise Period determined by the Board of Directors, provided, however, that in compliance with applicable (tax) laws the Board of Directors is authorized to establish certain conditions for such vesting and/or
exercising that will be applicable to some or all of the Warrant Holders involved. 
  

	7.	ISSUE OF THE NEW SHARES 

 The
Company shall only be obliged to issue New Shares pursuant to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied with. 

As soon as these exercise conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfil the required
administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of Directors and at least once per semester have established the capital increase. 

New Shares participate in the profit of the financial year of the Company that started on the first of January of the year in which the relevant New Shares
have been issued. 
 In view of a rapid delivery of the Shares resulting from the exercise of Warrants, the Company, represented by the Board of Directors,
can propose to the Participants who have complied with the Exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance of existing Shares subject to the
condition that they sign an authorization by which the New Shares upon issuance will immediately and directly be delivered to the Company or to any other party who provided them with the advance. 

The General Shareholders’ Meeting has granted power of attorney to two members of the Board of Directors or to the managing Director, with possibility of
sub-delegation, to take care of the establishment by notary deed of the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital
increase, the allocation to the unavailable account “issuance premiums” of the difference in the exercise price between the subscription price for the shares and the fractional value, to bring the Articles of Association in accordance with
the new situation of the social capital, to sign and deliver the relevant Euroclear and bank documents, and to sign and deliver all necessary documents in connection with the delivery of the shares (acquired as a result of the exercise of the
Warrants) to the Beneficiaries. 
 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as
they have been issued. The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8.	CESSATION OF THE DIRECTOR’S MANDATE 

Cessation of the Director’s Mandate 
 In case of
Cessation of the Director’s Mandate after the end of the third calendar year following the date of the Offer, the Beneficiary must exercise his not yet exercised Warrants within a six (6) month period as from the date on which his mandate
comes to an end or from the date he is otherwise not involved anymore in the activities of the Company, during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Director’s Mandate occurs prior to the third anniversary of the Offer, subject to a dissident decision of the Board of Directors
taken after the Cessation of the Director’s Mandate, a part of the granted Warrants shall automatically become null and void as follows: 
  

	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Offer. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first day of the
fourth calendar year following the year of Offer, during an Exercise Period of two weeks to be determined by the Board of Directors. 
 Decease 

In case of decease of a Warrant Holder, all Warrants acquired by such Warrant Holder pass to his Personal Representative(s) and must mandatory be exercised
within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Retirement 
 In case of retirement of a Warrant Holder,
the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. As used herein, “Retirement” shall mean any Cessation of the Director’s Mandate effected on or after the earliest date at which the Warrant Holder can receive state pension entitlement. 

  

					
	 Galapagos NV, Warrant Plan 2011 (B)
	 	p. 6/8	  	

			
	Translation from Dutch original	  	

  

 Sickness or Disability 

In case of Cessation of the Director’s Mandate as a result of long term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory
be exercised within six (6) months, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 

Deviations 
 The Board of Directors may at its discretion
decide to deviate at any time from the provisions set forth in this chapter 8. 
  

	9.	PROTECTIVE MEASURES 

 The Board of Directors may take appropriate measures
to safeguard the interests of the Warrant Holders in case: 
  

	•	 	a fundamental change in the control of the Company occurs; 

  

	•	 	a fundamental change in the regulations occurs; 

  

	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 This Plan may, if
required by the circumstances, be amended by the Company. The Beneficiary shall be informed of any such modifications and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm
the rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant Holders would be harmed, the amendments may not be made without their agreement. 

 

	10.	DISPUTE RESOLUTION 

 All disputes relating to this Plan will be brought to
the attention of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the area of Mechelen (Belgium) whereby all parties
involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11.	CLOSING PROVISIONS 

 Additional Information 

The Company will provide the Beneficiary at his request a copy of the articles of association of the Company and amendments thereof as the case may be. 

Taxes and Social Security Treatment 
 The Company shall be
entitled, in accordance with the applicable regulations, to apply a withholding on the compensation for the month in which the taxable moment occurs or on the compensation of any other following month, and/or the Beneficiary shall be obliged to pay
to the Company (if so required by the Company) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the fact that Warrants become susceptible of being exercised or of the exercise of the
Warrants or due or payable in respect of the delivery of the New Shares. 
 The Company shall be entitled, in accordance with the applicable regulations, to
prepare the required reports, necessary as a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 

Costs 
 Stamp duties, stock exchange taxes and similar
charges and taxes levied at the occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

Relationship with the Director’s mandate 
 No person
has a right to participate in this Plan and a participation in this Plan does not give a Beneficiary a right to have additional Warrants granted to him later. The grant of Warrants under this Plan does not contain a promise of a continuous mandate
or contract by the Company or its Subsidiaries. 
 Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity
resulting from his Director’s mandate shall not be affected by his participation in the Plan or by any right that he may have to participate therein. 

An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation by reason of the cessation of his
Director’s mandate, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the rights he might have or the claims he could make concerning the exercise of the Warrants pursuant to
the Plan because of the cessation of such mandate or by reason of the loss or decrease in value of the rights or benefits. 
 General Shareholders’
Meetings 
 Warrant Holders have the right to participate in the General Shareholders’ Meetings of the Company, but without voting right and only
with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. By accepting Warrants, the Participant consents that convocations for General Shareholders’ Meeting are validly
made if made by means of e-mail. 

  

					
	 Galapagos NV, Warrant Plan 2011 (B)
	 	p. 7/8	  	

			
	Translation from Dutch original	  	

  

 Address Change 

Warrant Holders are obliged to keep the Company informed of changes to their address and changes to their e-mail address. Communications sent by the Company to
the last known address or e-mail address of the Participant are validly made. 
 *** 

  

					
	 Galapagos NV, Warrant Plan 2011 (B)
	 	p. 8/8	  	

			
	Free translation for information purposes	 	

  

 WARRANT PLAN 2012 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

			
	 	 
	    	 	

			
	Free translation for information purposes	 	

  

 Table of Contents 

 

									
	1	 	 Base and Purpose
	  	 	3	 
			
	2	 	 Definitions
	  	 	3	 
			
	3	 	 Warrants
	  	 	4	 
				
		 	 3.1
	  	General	  	 	4	 
				
		 	 3.2
	  	Number per Beneficiary	  	 	4	 
				
		 	 3.3
	  	Transfer restrictions	  	 	4	 
				
		 	 3.4
	  	Exercise Price	  	 	4	 
				
		 	 3.5
	  	Administration of the Warrant Plan	  	 	5	 
			
	4	 	 Beneficiaries of the Plan
	  	 	5	 
			
	5	 	 Acceptance or Refusal of the Offer
	  	 	5	 
			
	6	 	 Exercise and Payment Conditions
	  	 	5	 
				
		 	 6.1
	  	Exercise Term	  	 	5	 
				
		 	 6.2
	  	Exercise Period	  	 	6	 
				
		 	 6.3
	  	Conditions of Exercise	  	 	6	 
				
		 	 6.4
	  	Exercise of the Warrants in accordance with the Belgian Companies Code	  	 	6	 
				
		 	 6.5
	  	Change in Control of the Company	  	 	6	 
			
	7	 	 Issuance of New Shares
	  	 	6	 
			
	8	 	 Cessation of the Employment or Service Relationship
	  	 	7	 
				
		 	 8.1
	  	Cessation of the employment or service relationship	  	 	7	 
				
		 	 8.2
	  	Decease	  	 	7	 
				
		 	 8.3
	  	Retirement	  	 	7	 
				
		 	 8.4
	  	Sickness or Disability	  	 	8	 
				
		 	 8.5
	  	Deviations	  	 	8	 
			
	9	 	 Protective Measures
	  	 	8	 
			
	10	 	 Dispute Resolution
	  	 	8	 
			
	11	 	 Final Provisions
	  	 	8	 
				
		 	 11.1
	  	Additional Information	  	 	8	 
				
		 	 11.2
	  	Taxes and Social Security Treatment	  	 	8	 
				
		 	 11.3
	  	Costs	  	 	9	 
				
		 	 11.4
	  	Relation to employment, consultancy or management agreement or director’s mandate	  	 	9	 
				
		 	 11.5
	  	Shareholders’ Meetings	  	 	9	 
				
		 	 11.6
	  	Communication with Warrant Holders	  	 	9	 
				
		 	 11.7
	  	Address Change	  	 	9	 

  

			
	 	 
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	1	Base and Purpose 

 The Board of Directors of GALAPAGOS NV (hereinafter referred to as the
“Company”) has approved the present Warrant Plan 2012 by resolution of 12 July 2012 (and by notary deed of 3 September 2012). 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub 2 (“Definitions: Beneficiary”)
and sub 4 (“Beneficiaries of the Plan”) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful
enterprise. 
  

	2	Definitions 

 In this Plan the words and terms mentioned hereunder have the meanings
given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly
executed, to the Company, for the attention of the managing director, for the acceptance of the Offer; 
 Shares: the shares of the
Company; 
 Beneficiary: the Employees, Consultants and Directors of the Company and its Subsidiaries whose name is mentioned in
Annex A to this Warrant Plan 2012; 
 Director: a natural person or legal entity who at any moment during the existence of
the Company exercises a director’s mandate in the Company to which they were appointed by either the Shareholders’ Meeting or the Board of Directors by way of cooptation; 

Consultant: a natural person or legal entity who provides services to the Company or a Subsidiary on a contractual basis, but who is not
an Employee (irrespective of whether the contract was entered into directly with the relevant natural person or legal entity - or in case of a natural person - with a legal person who has entrusted the performance of the services to such natural
person); 
 Control: the power, de jure or de facto, to have a decisive influence on the appointment of the majority of
the Directors or on the orientation of the management, as set forth in Article 5 et seq. of the Belgian Companies Code. The terms “to Control” and “Controlled by” shall be construed accordingly; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan;

 Subsidiary: a company under the Control of the Company, as further set forth in Article 6 of the Belgian Companies Code; 

Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of the Employment agreement between the
relevant Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company Controlled by the Participant) as a
Consultant or Employee, with the Company or a Subsidiary; 
 Cessation of the Consultancy agreement: the effective date of the
cessation for whatever reason of the Consultancy or management agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or
appointment of the relevant Participant (or a company Controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

Cessation of the Director’s Mandate: the effective date of the cessation for whatever reason of the director’s mandate
exercised by the relevant Participant-Director with either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company Controlled by the Participant)
as a Director, Consultant or Employee, with the Company or a Subsidiary; 
 New Shares: the Shares to be issued pursuant to the
exercise of the Warrants under this Plan; 
 Retirement: any Cessation of the Employment agreement or Cessation of the Consultancy
agreement, other than for cause, effected on or after the earliest date at which the Warrant Holder can receive state pension entitlement; 

Plan: the present Warrant Plan 2012 approved by the Board of Directors, as amended from time to time by the Board of Directors in
accordance with the provisions of this Plan; 

  

			
	 	 
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 Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the moment on which the Beneficiary accepts the Warrants offered. For the purposes of this Plan (including for Belgian fiscal
reasons), the Grant shall be deemed to take place on the sixtieth day following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 

Exercise: to make use of the right attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the
Exercise Price; 
 Exercise Price: the pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one
of the Exercise Periods within the Exercise term; 
 Exercise Term: the term during which the Beneficiary can exercise his Warrants to
acquire Shares of the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 

Exercise Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can
be Exercised; 
 Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800
Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term
and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract. 

Words and terms denoting the plural shall include the singular and vice versa. 

 

	3	Warrants 

  

	3.1	General 

 The number of Warrants issued in the framework of this Plan is maximum 530.140.
These Warrants will be designated as “Warrants 2012”. The detail of the number of Warrants per Beneficiary, offered under this Plan, is set forth in Annex A to this Plan. 

The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Offers under this Plan do not need to be the same for every Beneficiary. 

 

	3.2	Number per Beneficiary 

 The number of Warrants to be offered to the Beneficiaries is
determined by the Board of Directors and, as regards the Directors of the Company, by the Shareholders’ Meeting of the Company. This number is set forth in Annex A. 

 

	3.3	Transfer restrictions 

 The Warrants received are registered in the name of the Warrant
Holder and cannot be transferred inter vivos once granted to a Beneficiary. 
 The Warrant cannot be encumbered by any pledge or in
any other manner. 
 Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and
void. 
  

	3.4	Exercise Price 

 The Board of Directors shall determine the Exercise Price per Warrant at
the moment of the Offer. 
 Pursuant to Article 598 of the Belgian Companies Code and as the Shares of the Company are listed or traded
on a regulated market at the date of the Offer, the Exercise Price will at least amount to the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the
Exercise Price be lower than the accounting par value (rounded up to the higher eurocent) of the Shares at the date of the issuance of the Warrants. 

  

			
	 	 
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 Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital
for an amount equal to the accounting par value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the accounting par value must be booked as an issuance
premium. 
 In deviation of Article 501 of the Belgian Companies Code and without prejudice to the exceptions provided by law, the
Company, represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the distribution of the profit or on the liquidation
surpluses or that may otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the accounting par value of the existing Shares (in order not to conflict with Article 582 of the Belgian Companies
Code)), even in the event that these decisions might cause a reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction of benefits. 

Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a
modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the
number of Shares that relates to one Warrant and/or (ii) the Exercise Price. As soon as reasonably practicable, the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants
shall be adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 
  

	3.5	Administration of the Warrant Plan 

 The Company is responsible for the management and
the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4	Beneficiaries of the Plan 

 Beneficiaries are the individuals as indicated in
section 2 (“Definitions - Beneficiary”). 
 The Warrants under this Plan are in majority reserved for and granted to
Employees. The number of Beneficiaries consists in minority of Directors and Consultants and in majority of Employees. A majority of the issued Warrants is reserved for and granted to Employees. 

 

	5	Acceptance or Refusal of the Offer 

 The Beneficiaries have the possibility to accept the
individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established by ticking the relevant paragraph in the Notice of Acceptance. 

Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his/her decision regarding the Offer: (full or partial)
Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set forth in the Notice of
Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to
have refused the Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be
recorded as a Warrant Holder in the register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants
held by them. The Warrant Holder will receive a confirmation of the number of Warrants he has accepted. 
 The Nomination and Remuneration
Committee may decide to replace or complete the Notice of Acceptance by or with a written Warrant Agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination and Remuneration
Committee, in accordance with this Plan. 
 The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been
issued by notary deed establishing the acceptance. 
  

	6	Exercise and Payment Conditions 

  

	6.1	Exercise Term 

 The Exercise Term is eight (8) years, starting from the date of the
Offer. 

  

			
	 	 
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	6.2	Exercise Period 

 Warrants may not be exercised prior to the end of the third calendar
year following the calendar year in which the Grant was made. 
 As of the commencement of the fourth calendar year following the calendar
year in which the Grant was made, all vested Warrants may be exercised, during an Exercise Period. 
 The previous paragraph is however
expressly not applicable to Warrant Holders who are subject to income taxes in France and/or to social security contributions in France; these Warrant Holders can only exercise Warrants as from the fourth anniversary of their Offer. 

The Board of Directors will establish at least one Exercise Period of two weeks per semester. It is the responsibility of the Beneficiary to
timely seek information from the Company relating to the establishment of Exercise Periods. 
 The Board of Directors may decide, in
accordance with the applicable rules relating to abuse of insider information, to establish closed periods during which the Warrants cannot be exercised. 
  

	6.3	Conditions of Exercise 

 Individual Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board
of Directors or to an authorized person designated by the Board of Directors, and to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage insofar the Exercise Term has not expired. 
  

	6.4	Exercise of the Warrants in accordance with the Belgian Companies Code 

 In case a
Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely exercisable pursuant to Article 501 of the Belgian Companies Code and is thus also prematurely
exercised pursuant to Article 501 of the Belgian Companies Code, the New Shares that the Warrant Holders receives as a result of such Exercise will be not transferable, except with the explicit prior consent of the Board of Directors, until
such time the Warrant would have become exercisable in accordance with the Plan. 
  

	6.5	Change in Control of the Company 

 Notwithstanding anything to the contrary in this Plan,
in the event of a change in Control of the Company, all Warrants granted to a Warrant Holder whose relationship with the Company or with a Subsidiary has not ended prior to such change in Control and whose Warrants have not all vested yet, shall, in
principle, immediately vest and become immediately exercisable during an Exercise Period determined by the Board of Directors, provided, however, that in compliance with applicable (tax) laws the Board of Directors is authorized to establish certain
conditions for such vesting and/or exercising that will be applicable to some or all of the Warrant Holders involved. 
  

	7	Issuance of New Shares 

 The Company shall only be obliged to issue New Shares pursuant
to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied with. 
 As soon as these exercise
conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfill the required administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of
Directors and at least once per semester have established the capital increase. 
 New Shares participate in the profit of the financial year
of the Company that started on the first of January of the year in which the relevant New Shares have been issued. 
 In view of a rapid
delivery of the Shares resulting from the exercise of Warrants, the Company may propose to the Participants who have complied with the exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case
the Participants will receive an advance of existing Shares subject to the condition that they sign an authorization by which the New Shares will, upon issuance, immediately and directly be delivered to the Company or to any other party who advanced
them the existing Shares. 
 The Board of Directors has granted power of attorney to any two (2) members of the Board of Directors
acting jointly, as well as to the managing Director acting individually, with possibility of sub-delegation and the power of subrogation, to take care of the establishment by notary deed of the acceptance of the Warrants offered, the

  

			
	 	 
	Galapagos NV | Warrant Plan 2012	 	Page 6 of 9

			
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exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the allocation
to the unavailable account “issuance premiums” of the difference between the subscription price for the Shares and the accounting par value, to bring the Articles of Association in accordance with the new situation of the registered
capital, to sign and deliver the relevant Euroclear and bank documentation, and to sign and deliver all necessary documents in connection with the delivery of the Shares (acquired as a result of the exercise of the Warrants) to the Beneficiaries.

 The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been
issued. The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8	Cessation of the Employment or Service Relationship 

  

	8.1	Cessation of the employment or service relationship 

 In case of Cessation of the
Employment agreement or Cessation of the Consultancy agreement after the end of the third calendar year following the calendar year in which the Grant was made, the Beneficiary will have time to exercise his non-exercised Warrants within a six
(6) month period as from the date on which he leaves employment or is otherwise no longer involved in the activities of the Company during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following
the calendar year in which the Grant was made, all granted Warrants shall automatically become null and void. This principle does however not apply in the event of cessation resulting from decease, Retirement, or sickness or disability. 

In case of Cessation of the Director’s Mandate after the end of the third calendar year following the calendar year in which the Grant was
made, the Beneficiary must exercise his non-exercised Warrants within a six (6) month period as from the date on which his mandate comes to an end or from the date he is otherwise no longer involved in the activities of the Company, during an
Exercise Period of two weeks to be determined by the Board of Directors. 
 If Cessation of the Director’s Mandate occurs prior to the
end of the third calendar year following the calendar year in which the Grant was made, but without prejudice to a dissident decision of the Board of Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants
shall automatically become null and void as follows: 
  

	 	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Grant. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.2	Decease 

 In case of decease of a Warrant Holder, all Warrants acquired by such Warrant
Holder pass to his Personal Representative(s) and they must mandatory be exercised within six (6) months as from the decease, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised
within such period will automatically become null and void. 
 In case of decease prior to the end of the third calendar year following the
calendar year in which the Grant was made, the number of Warrants acquired and so exercisable shall be determined by multiplying the number of Warrants offered with the result of the following division: 

 

	
	 number of days between the date of the Grant and the date of decease

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

  

	8.3	Retirement 

 In case of Retirement of a Warrant Holder, the Warrants acquired by the
Warrant Holder must mandatorily be exercised within six (6) months as from such Retirement, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically
become null and void. 
 In case of Retirement prior to the end of the third calendar year following the calendar year in which the Grant was
made, the number of Warrants acquired and so exercisable shall be determined by multiplying the number of Warrants offered with the result of the following division: 

  

			
	 	 
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	 number of days between the date of the Grant and the date of Retirement

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

  

	8.4	Sickness or Disability 

 In case of cessation of the employment agreement or of the
consultancy or management agreement as a result of long-term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months as from such cessation, during an Exercise Period of two weeks to
be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 
 In
case of such cessation prior to the end of the third calendar year following the calendar year in which the Grant was made, the number of Warrants acquired and so exercisable shall be determined by multiplying the number of Warrants offered with the
result of the following division: 
  

	
	 number of days between the date of the Grant and the date of such
cessation

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

  

	8.5	Deviations 

 The Board of Directors may at its discretion decide to deviate at any time
from the provisions set forth in this chapter 8. 
  

	9	Protective Measures 

 The Board of Directors is authorized to take appropriate measures
to safeguard the interests of the Warrant Holders in case: 
  

	 	•	 	a fundamental change in the Control of the Company occurs; 

  

	 	•	 	a fundamental change in the regulations occurs; 

  

	 	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

This Plan may, if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be
bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant
Holders would be harmed, the amendments may not be made without their agreement. 
  

	10	Dispute Resolution 

 All disputes relating to this Plan will be brought to the attention
of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Mechelen (Belgium) whereby all parties involved
shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11	Final Provisions 

  

	11.1	Additional Information 

 The Company will provide the Beneficiary at his request a copy
of the articles of association of the Company and possible amendments thereto. 
  

	11.2	Taxes and Social Security Treatment 

 The Company or a Subsidiary shall be entitled, in
accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other following month, and/or the
Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the acceptance, the
fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as
a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 

  

			
	 	 
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	11.3	Costs 

 Stamp duties, stock exchange taxes and similar charges and taxes levied at the
occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

 

	11.4	Relation to employment, consultancy or management agreement or director’s mandate 

No person has a right to participate in this Plan and a participation in this Plan does not give the Beneficiaries a right to future grants of
additional Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or its Subsidiaries. 

Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity as determined in the provisions of his/her
director’s mandate, employment agreement or consultancy or management agreement concluded with the Company or a Subsidiary shall not be affected by his/her participation in the Plan or by any right that he/she may have to participate therein.

 An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation as a result of
the cessation of his mandate, employment agreement or consultancy or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the
rights he/she might have or the claims he/she could make concerning the exercise of Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss or decrease in value of the rights or benefits. 

 

	11.5	Shareholders’ Meetings 

 Warrant Holders have the right to participate in the
Shareholders’ Meetings of the Company, but without voting right and only with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. 

 

	11.6	Communication with Warrant Holders 

 By accepting Warrants, the Participant agrees that
documentation can be validly communicated by the Company by e-mail, including convocations for Shareholders’ Meetings and documentation pertaining to the exercise of Warrants. 

 

	11.7	Address Change 

 Warrant Holders are obliged to keep the Company informed of changes to
their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

*** 

  

			
	 	 
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 WARRANT PLAN 2013 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

			
	 	 
		 	

			
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 Table of Contents 

 

									
	1		    Base and Purpose		 	3	 
			
	2		    Definitions		 	3	 
			
	3		    Warrants		 	4	 
				
			3.1		General		 	4	 
				
			3.2		Number per Beneficiary		 	4	 
				
			3.3		Transfer restrictions		 	4	 
				
			3.4		Exercise Price		 	4	 
				
			3.5		Administration of the Warrant Plan		 	5	 
			
	4		    Beneficiaries of the Plan		 	5	 
			
	5		    Acceptance or Refusal of the Offer		 	5	 
			
	6		    Exercise and Payment Conditions		 	6	 
				
			6.1		Exercise Term		 	6	 
				
			6.2		Exercise Period		 	6	 
				
			6.3		Conditions of Exercise		 	6	 
				
			6.4		Exercise of the Warrants in accordance with the Belgian Companies Code		 	6	 
				
			6.5		Change in Control of the Company		 	6	 
			
	7		    Issuance of New Shares		 	6	 
			
	8		    Cessation of the Employment or Service Relationship or of the Director’s Mandate		 	7	 
				
			8.1		Cessation of the employment or service relationship or of the Director’s Mandate		 	7	 
				
			8.2		Decease		 	7	 
				
			8.3		Retirement		 	8	 
				
			8.4		Sickness or Disability		 	8	 
				
			8.5		Deviations		 	8	 
			
	9		    Protective Measures		 	8	 
			
	10		    Dispute Resolution		 	9	 
			
	11		    Final Provisions		 	9	 
				
			11.1		Additional Information		 	9	 
				
			11.2		Taxes and Social Security Treatment		 	9	 
				
			11.3		Costs		 	9	 
				
			11.4		Relation to employment, consultancy or management agreement or director’s mandate		 	9	 
				
			11.5		Shareholders’ Meetings		 	9	 
				
			11.6		Communication with Warrant Holders		 	9	 
				
			11.7		Address Change		 	10	 

  

			
	 	 
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	1	Base and Purpose 

 The Board of Directors of GALAPAGOS NV (hereinafter referred to as the
“Company”) has approved the present Warrant Plan 2013 by resolution of 14 May 2013 (and by notarial deed of 16 May 2013). 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub 2 (“Definitions: Beneficiary”)
and sub 4 (“Beneficiaries of the Plan”) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful
enterprise. 
  

	2	Definitions 

 In this Plan the words and terms mentioned hereunder have the meanings
given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly
executed, to the Company, for the attention of the managing director, for the acceptance of the Offer; 
 Shares: the shares of the
Company; 
 Beneficiary: the Employees, Consultants and Directors of the Company and its Subsidiaries whose name is mentioned in
Annex A to this Warrant Plan 2013; 
 Director: a natural person or legal entity who at any moment during the existence of
the Company exercises a director’s mandate in the Company to which they were appointed by either the Shareholders’ Meeting or the Board of Directors by way of cooptation; 

Consultant: a natural person or legal entity who provides services to the Company or a Subsidiary on a contractual basis, but who is not
an Employee (irrespective of whether the contract was entered into directly with the relevant natural person or legal entity - or in case of a natural person - with a legal person who has entrusted the performance of the services to such natural
person); 
 Control: the power, de jure or de facto, to have a decisive influence on the appointment of the majority of
the Directors or on the orientation of the management, as set forth in article 5 et seq. of the Belgian Companies Code. The terms “to Control” and “Controlled by” shall be construed accordingly; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan;

 Subsidiary: a company under the Control of the Company, as further set forth in article 6 of the Belgian Companies Code; 

Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of the Employment agreement between the
relevant Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company Controlled by the Participant) as a
Consultant or Employee, with the Company or a Subsidiary; 
 Cessation of the Consultancy agreement: the effective date of the
cessation for whatever reason of the Consultancy or management agreement between the relevant Participant-Consultant and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or
appointment of the relevant Participant (or a company Controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

Cessation of the Director’s Mandate: the effective date of the cessation for whatever reason of the director’s mandate
exercised by the relevant Participant-Director with either the Company or a Subsidiary, except for a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company Controlled by the Participant)
as a Director, Consultant or Employee, with the Company or a Subsidiary; 
 New Shares: the Shares to be issued pursuant to the
exercise of the Warrants under this Plan; 
 Retirement: any Cessation of the Employment agreement or Cessation of the Consultancy
agreement, other than for cause, effected on or after the earliest date at which the Warrant Holder can receive state pension entitlement; 

  

			
	 	 
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 Plan: the present Warrant Plan 2013 approved by the Board of Directors, as amended
from time to time by the Board of Directors in accordance with the provisions of this Plan; 
 Board of Directors: the board of
directors of the Company; 
 Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the moment on which the Beneficiary accepts the Warrants offered. For the purposes of this Plan (including for Belgian fiscal
reasons), the Grant shall be deemed to take place on the sixtieth day following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 

Exercise: to make use of the right attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the
Exercise Price; 
 Exercise Price: the pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one
of the Exercise Periods within the Exercise term; 
 Exercise Term: the term during which the Beneficiary can exercise his Warrants to
acquire Shares of the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 

Exercise Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can
be Exercised; 
 Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800
Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term
and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract. 

Words and terms denoting the plural shall include the singular and vice versa. 

 

	3	Warrants 

  

	3.1	General 

 The number of Warrants issued in the framework of this Plan is maximum 648,490.
These Warrants will be designated as “Warrants 2013”. The detail of the number of Warrants per Beneficiary, offered under this Plan, is set forth in Annex A to this Plan. 

The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Offers under this Plan do not need to be the same for every Beneficiary. 

 

	3.2	Number per Beneficiary 

 The number of Warrants to be offered to the Beneficiaries is
determined by the Board of Directors and, as regards the Directors of the Company, by the Shareholders’ Meeting of the Company. This number is set forth in Annex A. 

 

	3.3	Transfer restrictions 

 The Warrants received are registered in the name of the Warrant
Holder and cannot be transferred inter vivos once granted to a Beneficiary. 
 The Warrant cannot be encumbered by any pledge or in
any other manner. 
 Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and
void. 
  

	3.4	Exercise Price 

 The Board of Directors shall determine the Exercise Price per Warrant at
the moment of the Offer. 

  

			
	 	 
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 Pursuant to article 598 of the Belgian Companies Code and as the Shares of the Company
are listed or traded on a regulated market at the date of the Offer, the Exercise Price will at least amount to the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no
event will the Exercise Price be lower than the accounting par value (rounded up to the higher eurocent) of the Shares at the date of the issuance of the Warrants. 

Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital for an amount equal to the accounting par value of
the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the accounting par value must be booked as an issuance premium. 

In deviation of article 501 of the Belgian Companies Code and without prejudice to the exceptions provided by law, the Company,
represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the distribution of the profit or on the liquidation surpluses
or that may otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the accounting par value of the existing Shares (in order not to conflict with article 582 of the Belgian Companies Code)), even
in the event that these decisions might cause a reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction of benefits. 

Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a
modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the
number of Shares that relates to one Warrant and/or (ii) the Exercise Price. As soon as reasonably practicable, the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants
shall be adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 
  

	3.5	Administration of the Warrant Plan 

 The Company is responsible for the management and
the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4	Beneficiaries of the Plan 

 Beneficiaries are the individuals as indicated in
section 2 (“Definitions - Beneficiary”). 
 The Warrants under this Plan are in majority reserved for and granted to
Employees. The number of Beneficiaries consists in minority of Directors and Consultants and in majority of Employees. A majority of the issued Warrants is reserved for and granted to Employees. 

 

	5	Acceptance or Refusal of the Offer 

 The Beneficiaries have the possibility to accept the
individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established by ticking the relevant paragraph in the Notice of Acceptance. 

Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his/her decision regarding the Offer: (full or partial)
Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set forth in the Notice of
Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to
have refused the Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be
recorded as a Warrant Holder in the register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants
held by them. The Warrant Holder will receive a confirmation of the number of Warrants he has accepted. 

  

			
	 	 
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 The Nomination and Remuneration Committee may decide to replace or complete the Notice of
Acceptance by or with a written Warrant Agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been issued by notary deed establishing the
acceptance. 
  

	6	Exercise and Payment Conditions 

  

	6.1	Exercise Term 

 The Exercise Term is eight (8) years, starting from the date of the
Offer. 
  

	6.2	Exercise Period 

 Warrants may not be exercised prior to the end of the third calendar
year following the calendar year in which the Grant was made. 
 As of the commencement of the fourth calendar year following the calendar
year in which the Grant was made, all vested Warrants may be exercised, during an Exercise Period. 
 The Board of Directors will establish
at least one Exercise Period of two weeks per semester. It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 

The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed
periods during which the Warrants cannot be exercised. 
  

	6.3	Conditions of Exercise 

 Individual Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board
of Directors or to an authorized person designated by the Board of Directors, and to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage insofar the Exercise Term has not expired. 
  

	6.4	Exercise of the Warrants in accordance with the Belgian Companies Code 

 In case a
Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely exercisable pursuant to article 501 of the Belgian Companies Code and is thus also prematurely
exercised pursuant to article 501 of the Belgian Companies Code, the New Shares that the Warrant Holders receives as a result of such Exercise will be not transferable, except with the explicit prior consent of the Board of Directors, until
such time the Warrant would have become exercisable in accordance with the Plan. 
  

	6.5	Change in Control of the Company 

 Notwithstanding anything to the contrary in this Plan,
in the event of a change in Control of the Company, all Warrants granted to a Warrant Holder whose relationship with the Company or with a Subsidiary has not ended prior to such change in Control and whose Warrants have not all vested yet, shall, in
principle, immediately vest and become immediately exercisable during an Exercise Period determined by the Board of Directors, provided, however, that in compliance with applicable (tax) laws the Board of Directors is authorized to establish certain
conditions for such vesting and/or exercising that will be applicable to some or all of the Warrant Holders involved. 
  

	7	Issuance of New Shares 

 The Company shall only be obliged to issue New Shares pursuant
to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied with. 
 As soon as these exercise
conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfill the required administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of
Directors and at least once per semester have established the capital increase. 

  

			
	 	 
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 New Shares participate in the profit of the financial year of the Company that started on the
first of January of the year in which the relevant New Shares have been issued. 
 In view of a rapid delivery of the Shares resulting from
the exercise of Warrants, the Company may propose to the Participants who have complied with the exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case the Participants will receive an advance
of existing Shares subject to the condition that they sign an authorization by which the New Shares will, upon issuance, immediately and directly be delivered to the Company or to any other party who advanced them the existing Shares. 

The Board of Directors has granted power of attorney to any two (2) members of the Board of Directors acting jointly, as well as to the
managing Director acting individually, with possibility of sub-delegation and the power of subrogation, to take care of the establishment by notary deed of the acceptance of the Warrants offered, the exercise of the Warrants, the issuance of the
corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the allocation to the unavailable account “issuance premiums” of the difference between the subscription
price for the Shares and the accounting par value, to bring the Articles of Association in accordance with the new situation of the registered capital, to sign and deliver the relevant Euroclear and bank documentation, and to sign and deliver all
necessary documents in connection with the delivery of the Shares (acquired as a result of the exercise of the Warrants) to the Beneficiaries. 

The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been issued.
The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8	Cessation of the Employment or Service Relationship or of the Director’s Mandate 

  

	8.1	Cessation of the employment or service relationship or of the Director’s Mandate 

In case of Cessation of the Employment agreement or Cessation of the Consultancy agreement after the end of the third calendar year following
the calendar year in which the Grant was made, the Beneficiary will have time to exercise his non-exercised Warrants within a six (6) month period as from the date on which he leaves employment or is otherwise no longer involved in the
activities of the Company during an Exercise Period of two weeks to be determined by the Board of Directors. 
 If Cessation of the
Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following the calendar year in which the Grant was made, all granted Warrants shall automatically become null and void. This principle
does however not apply in the event of cessation resulting from decease, Retirement, or sickness or disability. 
 In case of Cessation of
the Director’s Mandate after the end of the third calendar year following the calendar year in which the Grant was made, the Beneficiary must exercise his non-exercised Warrants within a six (6) month period as from the date on which his
mandate comes to an end or from the date he is otherwise no longer involved in the activities of the Company, during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Director’s Mandate occurs prior to the end of the third calendar year following the calendar year in which the Grant
was made, but without prejudice to a dissident decision of the Board of Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants shall automatically become null and void as follows: 

 

	 	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Grant. 

The Warrants that do not automatically become null and void are exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.2	Decease 

 In case of decease of a Warrant Holder, all Warrants acquired by such Warrant
Holder pass to his Personal Representative(s) and they must mandatory be exercised within six (6) months as from the decease, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised
within such period will automatically become null and void. 

  

			
	 	 
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 In case of decease prior to the end of the third calendar year following the calendar year in
which the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants offered with the result of the following division: 
  

					
		 	number of days between the date of the Grant and the date of decease	 	    
		 	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made	 	

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.3	Retirement 

 In case of Retirement of a Warrant Holder, the Warrants acquired by the
Warrant Holder must mandatorily be exercised within six (6) months as from such Retirement, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will
automatically become null and void. 
 In case of Retirement prior to the end of the third calendar year following the calendar year in which
the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants offered with the result of the following division: 
  

					
		 	number of days between the date of the Grant and the date of Retirement	 	
		 	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made	 	

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.4	Sickness or Disability 

 In case of cessation of the employment agreement or of the
consultancy or management agreement as a result of long-term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months as from such cessation, during an Exercise Period of two weeks to
be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 
 In
case of such cessation prior to the end of the third calendar year following the calendar year in which the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants offered with the result of the
following division: 
  

					
		 	number of days between the date of the Grant and the date of such cessation	 	
		 	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made	 	

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.5	Deviations 

 The Board of Directors may at its discretion decide to deviate at any time
from the provisions set forth in this chapter 8. 
  

	9	Protective Measures 

 The Board of Directors is authorized to take appropriate measures
to safeguard the interests of the Warrant Holders in case: 
  

	 	•	 	a fundamental change in the Control of the Company occurs; 

  

	 	•	 	a fundamental change in the regulations occurs; 

  

	 	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

This Plan may, if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be
bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant
Holders would be harmed, the amendments may not be made without their agreement. 

  

			
	 	 
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	10	Dispute Resolution 

 All disputes relating to this Plan will be brought to the attention
of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Mechelen (Belgium) whereby all parties involved
shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11	Final Provisions 

  

	11.1	Additional Information 

 The Company will provide the Beneficiary at his request a copy
of the articles of association of the Company and possible amendments thereto. 
  

	11.2	Taxes and Social Security Treatment 

 The Company or a Subsidiary shall be entitled, in
accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other following month, and/or the
Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the acceptance, the
fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as
a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
  

	11.3	Costs 

 Stamp duties, stock exchange taxes and similar charges and taxes levied at the
occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

 

	11.4	Relation to employment, consultancy or management agreement or director’s mandate 

No person has a right to participate in this Plan and a participation in this Plan does not give the Beneficiaries a right to future grants of
additional Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or its Subsidiaries. 

Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity as determined in the provisions of his/her
director’s mandate, employment agreement or consultancy or management agreement concluded with the Company or a Subsidiary shall not be affected by his/her participation in the Plan or by any right that he/she may have to participate therein.

 An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation as a result of
the cessation of his mandate, employment agreement or consultancy or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the
rights he/she might have or the claims he/she could make concerning the exercise of Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss or decrease in value of the rights or benefits. 

 

	11.5	Shareholders’ Meetings 

 Warrant Holders have the right to participate in the
Shareholders’ Meetings of the Company, but without voting right and only with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. 

 

	11.6	Communication with Warrant Holders 

 By accepting Warrants, the Participant agrees that
documentation can be validly communicated by the Company by e-mail, including convocations for Shareholders’ Meetings and documentation pertaining to the exercise of Warrants. 

  

			
	 	 
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	11.7	Address Change 

 Warrant Holders are obliged to keep the Company informed of changes to
their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

*** 

  

			
	 	 
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 WARRANT PLAN 2013 (B) 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

			
	 	 
		 	

			
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 Table of Contents 

 

									
	2		 Definitions
		 	3	 
			
	3		 Warrants
		 	4	 
				
			3.1		General		 	4	 
				
			3.2		Number per Beneficiary		 	4	 
				
			3.3		Transfer restrictions		 	4	 
				
			3.4		Exercise Price		 	4	 
				
			3.5		Administration of the Warrant Plan		 	5	 
			
	4		 Beneficiary of the Plan
		 	5	 
			
	5		 Acceptance or Refusal of the Offer
		 	5	 
			
	6		 Exercise and Payment Conditions
		 	6	 
				
			6.1		Exercise Term		 	6	 
				
			6.2		Exercise Period		 	6	 
				
			6.3		Conditions of Exercise		 	6	 
				
			6.4		Exercise of the Warrants in accordance with the Belgian Companies Code		 	6	 
				
			6.5		Change in Control of the Company		 	7	 
			
	7		 Issuance of New Shares
		 	7	 
			
	8		 Cessation of the Employment or Service Relationship
		 	7	 
				
			8.1		Cessation of the employment or service relationship		 	7	 
				
			8.2		Decease		 	8	 
				
			8.3		Retirement		 	8	 
				
			8.4		Sickness or Disability		 	8	 
				
			8.5		Deviations		 	9	 
			
	9		 Protective Measures
		 	9	 
			
	10		 Dispute Resolution
		 	9	 
			
	11		 Final Provisions
		 	9	 
				
			11.1		Additional Information		 	9	 
				
			11.2		Taxes and Social Security Treatment		 	9	 
				
			11.3		Costs		 	10	 
				
			11.4		Relation to employment agreement		 	10	 
				
			11.5		Shareholders’ Meetings		 	10	 
				
			11.6		Communication with the Warrant Holder		 	10	 
				
			11.7		Address Change		 	10	 

  

			
	 	 
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	1	Base and Purpose 

 The Board of Directors of GALAPAGOS NV (hereinafter referred to as the
“Company”) has approved the present Warrant Plan 2013 (B) by resolution of 18 September 2013 (and by notarial deed of the same day). 

With the Plan set forth hereafter the Company wants to inform the relevant Beneficiary (see infra sub 2 (“Definitions:
Beneficiary”) and sub 4 (“Beneficiary of the Plan”) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiary to help to develop the Company
to a successful enterprise. 
  

	2	Definitions 

 In this Plan the words and terms mentioned hereunder have the meanings
given below: 
 Offer: the written and dated notification to the Beneficiary of the Plan as to the opportunity to acquire Warrants in
accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly
executed, to the Company, for the attention of the managing director, for the acceptance of the Offer; 
 Shares: the shares of the
Company; 
 Beneficiary: Mr David Smith (CEO, Galapagos Services); 

Control: the power, de jure or de facto, to have a decisive influence on the appointment of the majority of the Directors
or on the orientation of the management, as set forth in article 5 et seq. of the Belgian Companies Code. The terms “to Control” and “Controlled by” shall be construed accordingly; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan;

 Subsidiary: a company under the Control of the Company, as further set forth in article 6 of the Belgian Companies Code; 

Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of the Employment agreement between the
relevant Participant-Employee and either the Company or a Subsidiary, with the exception of a cessation accompanied by a simultaneous (other) employment or appointment of the relevant Participant (or a company Controlled by the Participant) as a
consultant or Employee, with the Company or a Subsidiary; 
 New Shares: the Shares to be issued pursuant to the exercise of the
Warrants under this Plan; 
 Retirement: any Cessation of the Employment agreement, other than for cause, effected on or after the
earliest date at which the Warrant Holder can receive state pension entitlement; 
 Plan: the present Warrant Plan 2013
(B) approved by the Board of Directors, as amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 

Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the moment on which the Beneficiary accepts the Warrants offered. For the purposes of this Plan (including for Belgian fiscal
reasons), the Grant shall be deemed to take place on the sixtieth day following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 

Exercise: to make use of the right attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the
Exercise Price; 

  

			
	 	 
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 Exercise Price: the pre-determined price at which a New Share can be acquired when
Exercising a Warrant, during one of the Exercise Periods within the Exercise term; 
 Exercise Term: the term during which the
Beneficiary can exercise his Warrants to acquire Shares of the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 

Exercise Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can
be Exercised; 
 Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800
Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term
and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract. 

Words and terms denoting the plural shall include the singular and vice versa. 

 

	3	Warrants 

  

	3.1	General 

 The number of Warrants issued in the framework of this Plan is maximum 75,000.
These Warrants will be designated as “Warrants 2013 (B)”. 
 The Warrants are granted by the Company to the Beneficiary for free.

 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

 

	3.2	Number per Beneficiary 

 The number of Warrants to be offered to the Beneficiary is
determined by the Board of Directors and amounts to 75,000. 
  

	3.3	Transfer restrictions 

 The Warrants received are registered in the name of the Warrant
Holder and cannot be transferred inter vivos once granted to the Beneficiary. 
 The Warrant cannot be encumbered by any pledge or in
any other manner. 
 Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and
void. 
  

	3.4	Exercise Price 

 The Board of Directors shall determine the Exercise Price per Warrant at
the moment of the Offer. 
 Pursuant to article 598 of the Belgian Companies Code and as the Shares of the Company are listed or traded
on a regulated market at the date of the Offer, the Exercise Price will, at the election of the Board of Directors, at least amount to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or
(b) the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than the accounting par value (rounded up to the higher
eurocent) of the Shares at the date of the issuance of the Warrants. 

  

			
	 	 
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 Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital
for an amount equal to the accounting par value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the accounting par value must be booked as an issuance
premium. 
 In deviation of article 501 of the Belgian Companies Code and without prejudice to the exceptions provided by law, the
Company, represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the distribution of the profit or on the liquidation
surpluses or that may otherwise affect the rights of the Warrant Holder (with the exception of those causing an increase of the accounting par value of the existing Shares (in order not to conflict with article 582 of the Belgian Companies
Code)), even in the event that these decisions might cause a reduction of the benefits offered to the Warrant Holder, unless the only purpose of these decisions and transactions would be such reduction of benefits. 

Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a
modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the
number of Shares that relates to one Warrant and/or (ii) the Exercise Price. As soon as reasonably practicable, the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants
shall be adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 
  

	3.5	Administration of the Warrant Plan 

 The Company is responsible for the management and
the administration of the Plan and ensures that all questions of the Beneficiary or Warrant Holder are answered accurately and rapidly. 
  

	4	Beneficiary of the Plan 

 The Beneficiary is the individual as indicated in
section 2 (“Definitions - Beneficiary”). 
 The Beneficiary is an Employee of a Subsidiary of the Company. Under this Plan, no
Warrants shall be offered to beneficiaries that are no Employee of the Company or of a Subsidiary of the Company. 
  

	5	Acceptance or Refusal of the Offer 

 The Beneficiary has the possibility to accept the
individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established by ticking the relevant paragraph in the Notice of Acceptance. 

The Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his/her decision regarding the Offer: (full or partial)
Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set forth in the Notice of
Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to
have refused the Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be
recorded as a Warrant Holder in the register of warrant holders of the Company. This register is 

  

			
	 	 
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kept at the registered office of the Company, mentioning the identity of the Warrant Holder and previous warrant holders and the number of Warrants held by them. The Warrant Holder will receive a
confirmation of the number of Warrants he has accepted. 
 The Nomination and Remuneration Committee may decide to replace or complete the
Notice of Acceptance by or with a written Warrant Agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been issued by notary deed establishing the
acceptance. 
  

	6	Exercise and Payment Conditions 

  

	6.1	Exercise Term 

 The Exercise Term is eight (8) years, starting from the date of the
Offer. 
  

	6.2	Exercise Period 

 Warrants may not be exercised prior to the end of the third calendar
year following the calendar year in which the Grant was made. 
 As of the commencement of the fourth calendar year following the calendar
year in which the Grant was made, all vested Warrants may be exercised, during an Exercise Period. 
 The Board of Directors will establish
at least one Exercise Period of two weeks per semester. It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 

The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed
periods during which the Warrants cannot be exercised. 
  

	6.3	Conditions of Exercise 

 Individual Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board
of Directors or to an authorized person designated by the Board of Directors, and to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage insofar the Exercise Term has not expired. 
  

	6.4	Exercise of the Warrants in accordance with the Belgian Companies Code 

 In case a
Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely exercisable pursuant to article 501 of the Belgian Companies Code and is thus also prematurely
exercised pursuant to article 501 of the Belgian Companies Code, the New Shares that the Warrant Holder receives as a result of such Exercise will be not transferable, except with the explicit prior consent of the Board of Directors, until such
time the Warrant would have become exercisable in accordance with the Plan. 

  

			
	 	 
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	6.5	Change in Control of the Company 

 Notwithstanding anything to the contrary in this Plan,
in the event of a change in Control of the Company, all Warrants granted to a Warrant Holder whose relationship with the Company or with a Subsidiary has not ended prior to such change in Control and whose Warrants have not all vested yet, shall, in
principle, immediately vest and become immediately exercisable during an Exercise Period determined by the Board of Directors, provided, however, that in compliance with applicable (tax) laws the Board of Directors is authorized to establish certain
conditions for such vesting and/or exercising that will be applicable the Warrant Holder. 
  

	7	Issuance of New Shares 

 The Company shall only be obliged to issue New Shares pursuant
to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied with. 
 As soon as these exercise
conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfill the required administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of
Directors and at least once per semester have established the capital increase. 
 New Shares participate in the profit of the financial year
of the Company that started on the first of January of the year in which the relevant New Shares have been issued. 
 In view of a rapid
delivery of the Shares resulting from the exercise of Warrants, the Company may propose to the Participant who has complied with the exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case the
Participant will receive an advance of existing Shares subject to the condition that the Participant signs an authorization by which the New Shares will, upon issuance, immediately and directly be delivered to the Company or to any other party who
advanced the existing Shares. 
 The Board of Directors has granted power of attorney to any two (2) members of the Board of Directors
acting jointly, as well as to the managing Director acting individually, with possibility of sub-delegation and the power of subrogation, to take care of the establishment by notary deed of the acceptance of the Warrants offered, the exercise of the
Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the allocation to the unavailable account “issuance premiums” of the
difference between the subscription price for the Shares and the accounting par value, to bring the Articles of Association in accordance with the new situation of the registered capital, to sign and deliver the relevant Euroclear and bank
documentation, and to sign and deliver all necessary documents in connection with the delivery of the Shares (acquired as a result of the exercise of the Warrants) to the Beneficiary. 

The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been issued.
The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8	Cessation of the Employment or Service Relationship 

  

	8.1	Cessation of the employment or service relationship 

 In case of Cessation of the
Employment agreement after the end of the third calendar year following the calendar year in which the Grant was made, the Beneficiary will have time to exercise his non-exercised Warrants within a six (6) month period as from the date on which
he leaves employment or is otherwise no longer involved in the activities of the Company during an Exercise Period of two weeks to be determined by the Board of Directors. 

If Cessation of the Employment agreement occurs prior to the end of the third calendar year following the calendar year in which the Grant was
made, all granted Warrants shall automatically become null and void. This principle does however not apply in the event of cessation resulting from decease, Retirement, or sickness or disability. 

  

			
	 	 
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 The Warrants that do not automatically become null and void are exercisable during a period
of six (6) months, starting as of the first day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 

 

	8.2	Decease 

 In case of decease of the Warrant Holder, all Warrants acquired by such Warrant
Holder pass to his Personal Representative(s) and they must mandatory be exercised within six (6) months as from the decease, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised
within such period will automatically become null and void. 
 In case of decease prior to the end of the third calendar year following the
calendar year in which the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants offered with the result of the following division: 

 

					
			number of days between the date of the Grant and the date of decease		
			number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made		

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.3	Retirement 

 In case of Retirement of a Warrant Holder, the Warrants acquired by the
Warrant Holder must mandatorily be exercised within six (6) months as from such Retirement, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically
become null and void. 
 In case of Retirement prior to the end of the third calendar year following the calendar year in which the Grant was
made, the number of Warrants acquired shall be determined by multiplying the number of Warrants offered with the result of the following division: 
  

					
			number of days between the date of the Grant and the date of Retirement		
			number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made		

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.4	Sickness or Disability 

 In case of cessation of the employment agreement as a result of
long-term sickness or disability, the Warrants acquired by the Warrant Holder must mandatory be exercised within six (6) months as from such cessation, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants
that are not exercised within such period will automatically become null and void. 
 In case of such cessation prior to the end of the third
calendar year following the calendar year in which the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants offered with the result of the following division: 

  

			
	 	 
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			number of days between the date of the Grant and the date of such cessation		
			number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made		

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.5	Deviations 

 The Board of Directors may at its discretion decide to deviate at any time
from the provisions set forth in this chapter 8. 
  

	9	Protective Measures 

 The Board of Directors is authorized to take appropriate measures
to safeguard the interests of the Warrant Holder in case: 
  

	 	•	 	a fundamental change in the Control of the Company occurs; 

  

	 	•	 	a fundamental change in the regulations occurs; 

  

	 	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiary occurs. 

 This
Plan may, if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not
harm the rights of the Warrant Holder existing under this Plan. In the event the rights of the Warrant Holder existing under this Plan would be harmed, the amendments may not be made without its agreement. 

 

	10	Dispute Resolution 

 All disputes relating to this Plan will be brought to the attention
of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Mechelen (Belgium) whereby all parties involved
shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11	Final Provisions 

  

	11.1	Additional Information 

 The Company will provide the Beneficiary at his request a copy
of the articles of association of the Company and possible amendments thereto. 
  

	11.2	Taxes and Social Security Treatment 

 The Company or a Subsidiary shall be entitled, in
accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other following month, and/or the
Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the acceptance, the
fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as
a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2013 (B)		Page 9

			
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	11.3	Costs 

 Stamp duties, stock exchange taxes and similar charges and taxes levied at the
occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

 

	11.4	Relation to employment agreement 

 No person has a right to participate in this Plan and
a participation in this Plan does not give the Beneficiary a right to future grants of additional Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or its Subsidiaries. 

Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity as determined in the provisions of his/her
employment agreement concluded with the Company or a Subsidiary shall not be affected by his/her participation in the Plan or by any right that he/she may have to participate therein. 

An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation as a result of the
cessation of his mandate, employment agreement or consultancy or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the rights
he/she might have or the claims he/she could make concerning the exercise of Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss or decrease in value of the rights or benefits. 

 

	11.5	Shareholders’ Meetings 

 The Warrant Holder has the right to participate in the
Shareholders’ Meetings of the Company, but without voting right and only with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. 

 

	11.6	Communication with the Warrant Holder 

 By accepting Warrants, the Participant agrees
that documentation can be validly communicated by the Company by e-mail, including convocations for Shareholders’ Meetings and documentation pertaining to the exercise of Warrants. 

 

	11.7	Address Change 

 The Warrant Holder is obliged to keep the Company informed of changes to
its address and changes to its e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2013 (B)		Page 10

			
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 WARRANT PLAN 2014 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

			
	 	 
		 	

			
	Free translation – For information purposes only	  	

  

 Table of Contents 

 

									
	1	 	    Base and Purpose	  	 	3	  
			
	2	 	    Definitions	  	 	3	  
			
	3	 	    Warrants	  	 	4	  
				
		 	3.1	  	General	  	 	4	  
				
		 	3.2	  	Number per Beneficiary	  	 	4	  
				
		 	3.3	  	Transfer restrictions	  	 	4	  
				
		 	3.4	  	Exercise Price	  	 	5	  
				
		 	3.5	  	Administration of the Warrant Plan	  	 	5	  
			
	4	 	    Beneficiaries of the Plan	  	 	5	  
			
	5	 	    Acceptance or Refusal of the Offer	  	 	5	  
			
	6	 	    Exercise and Payment Conditions	  	 	6	  
				
		 	6.1	  	Exercise Term	  	 	6	  
				
		 	6.2	  	Exercise Period	  	 	6	  
				
		 	6.3	  	Conditions of Exercise	  	 	6	  
				
		 	6.4	  	Exercise of the Warrants in accordance with the Belgian Companies Code	  	 	6	  
				
		 	6.5	  	Change in Control of the Company	  	 	6	  
			
	7	 	    Issuance of New Shares	  	 	7	  
			
	8	 	    Cessation of the Employment or Service Relationship or of the Director’s Mandate	  	 	7	  
				
		 	8.1	  	Cessation of the employment or service relationship or of the Director’s Mandate	  	 	7	  
				
		 	8.2	  	Decease	  	 	8	  
				
		 	8.3	  	Retirement	  	 	8	  
				
		 	8.4	  	Sickness or Disability	  	 	8	  
				
		 	8.5	  	Deviations	  	 	8	  
			
	9	 	    Protective Measures	  	 	9	  
			
	10	 	        Dispute Resolution	  	 	9	  
			
	11	 	        Final Provisions	  	 	9	  
				
		 	11.1	  	Additional Information	  	 	9	  
				
		 	11.2	  	Taxes and Social Security Treatment	  	 	9	  
				
		 	11.3	  	Costs	  	 	9	  
				
		 	11.4	  	Relation to employment, consultancy or management agreement or director’s mandate	  	 	9	  
				
		 	11.5	  	Shareholders’ Meetings	  	 	10	  
				
		 	11.6	  	Communication with Warrant Holders	  	 	10	  
				
		 	11.7	  	Address Change	  	 	10	  

  

			
	 	 
	Galapagos NV | Warrant Plan 2014	 	Page 2 of 10

			
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	1	Base and Purpose 

 The Board of Directors of Galapagos NV (hereinafter referred to as the
“Company”) has approved the present Warrant Plan 2014 by resolution of 25 July 2014 (and by notarial deed of the same date). 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub 2 (“Definitions: Beneficiary”)
and sub 4 (“Beneficiaries of the Plan”) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a successful
enterprise. 
  

	2	Definitions 

 In this Plan the words and terms mentioned hereunder have the meanings
given below: 
 Offer: the written and dated notification to the Beneficiaries of the Plan as to the opportunity for them to acquire
Warrants in accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly
executed, to the Company, for the attention of the managing director, for the acceptance of the Offer; 
 Shares: the shares of the
Company; 
 Beneficiary: the Employees, Consultants and Directors of the Company and its Subsidiaries whose name is mentioned in
Annex A to this Warrant Plan 2014; 
 Director: a natural person or legal entity who at any moment during the existence of
the Company exercises a director’s mandate in the Company to which they were appointed by either the Shareholders’ Meeting or the Board of Directors by way of cooptation; 

Consultant: a natural person or legal entity who provides services to the Company or a Subsidiary on a contractual basis, but who is not
an Employee (irrespective of whether the contract was entered into directly with the relevant natural person or legal entity - or in case of a natural person - with a legal entity who has entrusted the performance of the services to such natural
person); 
 Control: the power, de jure or de facto, to have a decisive influence on the appointment of the majority of
the Directors or on the orientation of the management, as set forth in article 5 et seq. of the Belgian Companies Code. The terms “to Control” and “Controlled by” shall be construed accordingly; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan;

 Subsidiary: a company under the Control of the Company, as further set forth in article 6 of the Belgian Companies Code; 

Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of the employment agreement between the
relevant Participant-Employee and either the Company or a Subsidiary (including, for the avoidance of doubt, the relevant employing entity ceasing to be a Subsidiary of the Company), with the exception of a cessation accompanied by a simultaneous
(other) employment or appointment of the relevant Participant (or a company Controlled by the Participant) as a Consultant or Employee, with the Company or a Subsidiary; 

Cessation of the Consultancy agreement: the effective date of the cessation for whatever reason of the Consultancy or management
agreement between the relevant Participant-Consultant and either the Company or a Subsidiary (including, for the avoidance of doubt, the relevant entity ceasing to be a Subsidiary of the Company), with the exception of a cessation accompanied by a
simultaneous (other) employment or appointment of the relevant Participant (or a company Controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

Cessation of the Director’s Mandate: the effective date of the cessation for whatever reason of the director’s mandate
exercised by the relevant Participant-Director with either the Company or a Subsidiary (including, for the avoidance of doubt, the relevant entity ceasing to be a Subsidiary of the Company), except for a cessation accompanied by a simultaneous
(other) employment or appointment of the relevant Participant (or a company Controlled by the Participant) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

  

			
	 	 
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 New Shares: the Shares to be issued pursuant to the exercise of the Warrants under
this Plan; 
 Retirement: any Cessation of the Employment agreement or Cessation of the Consultancy agreement, other than for cause,
effected on or after the earliest date at which the Warrant Holder can receive state pension entitlement; 
 Plan: the present Warrant
Plan 2014 approved by the Board of Directors, as amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 

Board of Directors: the board of directors of the Company; 

Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the moment on which the Beneficiary accepts the Warrants offered. For the purposes of this Plan (including for Belgian fiscal
reasons), the Grant shall be deemed to take place on the sixtieth day following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 

Exercise: to make use of the right attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the
Exercise Price; 
 Exercise Price: the pre-determined price at which a New Share can be acquired when Exercising a Warrant, during one
of the Exercise Periods within the Exercise Term; 
 Exercise Term: the term during which the Beneficiary can exercise his Warrants to
acquire Shares of the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 

Exercise Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can
be Exercised; 
 Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800
Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term
and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract. 

Words and terms denoting the plural shall include the singular and vice versa. 

 

	3	Warrants 

  

	3.1	General 

 The number of Warrants issued in the framework of this Plan is maximum 666,760.
These Warrants will be designated as “Warrants 2014”. The detail of the number of Warrants per Beneficiary, offered under this Plan, is set forth in Annex A to this Plan. 

The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Offers under this Plan do not need to be the same for every Beneficiary. 

 

	3.2	Number per Beneficiary 

 The number of Warrants to be offered to the Beneficiaries is
determined by the Board of Directors and, as regards the Directors of the Company, by the Shareholders’ Meeting of the Company. This number is set forth in Annex A. 

 

	3.3	Transfer restrictions 

 The Warrants received are registered in the name of the Warrant
Holder and cannot be transferred inter vivos once granted to a Beneficiary. 
 The Warrant cannot be encumbered by any pledge or in
any other manner. 

  

			
	 	 
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 Warrants that, in contravention with the foregoing, are transferred or encumbered shall
automatically become null and void. 
  

	3.4	Exercise Price 

 The Board of Directors shall determine the Exercise Price per Warrant at
the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the date of the Offer, the Exercise
Price of the Warrants for an Offer to an Employee will, at the election of the Board of Directors, at least be equal to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or (b) the
average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. For an Offer to a Consultant or a Director, the Exercise Price will, in accordance with article 598 of the Belgian
Companies Code, at least amount to the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than the accounting par value
(rounded up to the higher eurocent) of the Shares at the date of the issuance of the Warrants. 
 Upon Exercise and subsequent capital
increase the Exercise Price must be booked as capital for an amount equal to the accounting par value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds
the accounting par value must be booked as an issuance premium. 
 In deviation of article 501 of the Belgian Companies Code and without
prejudice to the exceptions provided by law, the Company, represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the
distribution of the profit or on the liquidation surpluses or that may otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the accounting par value of the existing Shares (in order not to conflict
with article 582 of the Belgian Companies Code)), even in the event that these decisions might cause a reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction
of benefits. 
 Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be
entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications
to (i) the number of Shares that relates to one Warrant and/or (ii) the Exercise Price. As soon as reasonably practicable, the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants
shall be adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 
  

	3.5	Administration of the Warrant Plan 

 The Company is responsible for the management and
the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 
  

	4	Beneficiaries of the Plan 

 Beneficiaries are the individuals as indicated in
section 2 (“Definitions - Beneficiary”). 
 The Warrants under this Plan are in majority reserved for and granted to
Employees. The number of Beneficiaries consists in minority of Directors and Consultants and in majority of Employees. A majority of the issued Warrants is reserved for and granted to Employees. 

 

	5	Acceptance or Refusal of the Offer 

 The Beneficiaries have the possibility to accept the
individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established by ticking the relevant paragraph in the Notice of Acceptance. 

Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his/her decision regarding the Offer: (full or partial)
Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set forth in the Notice of
Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

  

			
	 	 
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 In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in
the Notice of Acceptance, he shall be deemed to have refused the Offer. 
 The Warrants are registered in the name of the Beneficiary. In
case of acceptance, the Beneficiary will be recorded as a Warrant Holder in the register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous
warrant holders and the number of Warrants held by them. The Warrant Holder will receive a confirmation of the number of Warrants he has accepted. 

The Nomination and Remuneration Committee may decide to replace or complete the Notice of Acceptance by or with a written Warrant Agreement to
be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been issued by notary deed establishing the
acceptance. 
  

	6	Exercise and Payment Conditions 

  

	6.1	Exercise Term 

 The Exercise Term is eight (8) years, starting from the date of the
Offer. 
  

	6.2	Exercise Period 

 Warrants may not be exercised prior to the end of the third calendar
year following the calendar year in which the Grant was made. 
 As of the commencement of the fourth calendar year following the calendar
year in which the Grant was made, all vested Warrants may be exercised, during an Exercise Period. 
 The Board of Directors will establish
at least one Exercise Period of two weeks per semester. It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 

The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed
periods during which the Warrants cannot be exercised. 
  

	6.3	Conditions of Exercise 

 Individual Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board
of Directors or to an authorized person designated by the Board of Directors, and to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage insofar the Exercise Term has not expired. 
  

	6.4	Exercise of the Warrants in accordance with the Belgian Companies Code 

 In case a
Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely exercisable pursuant to article 501 of the Belgian Companies Code and is thus also prematurely
exercised pursuant to article 501 of the Belgian Companies Code, the New Shares that the Warrant Holders receives as a result of such Exercise will not be transferable, except with the explicit prior consent of the Board of Directors, until
such time the Warrant would have become exercisable in accordance with the Plan. 
  

	6.5	Change in Control of the Company 

 Notwithstanding anything to the contrary in this Plan,
in the event of a change in Control of the Company, all Warrants granted to a Warrant Holder whose relationship with the Company or with a Subsidiary has not ended prior to such change in Control and whose Warrants have not all vested yet, shall, in
principle, immediately vest and become immediately exercisable during an Exercise Period determined by the Board of Directors, provided, however, that in compliance with applicable (tax) laws the Board of Directors is authorized to establish certain
conditions for such vesting and/or exercising that will be applicable to some or all of the Warrant Holders involved. 

  

			
	 	 
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	7	Issuance of New Shares 

 The Company shall only be obliged to issue New Shares pursuant
to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied with. 
 As soon as these exercise
conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfill the required administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of
Directors and at least once per semester have established the capital increase. 
 New Shares participate in the profit of the financial year
of the Company that started on the first of January of the year in which the relevant New Shares have been issued. 
 In view of a rapid
delivery of the Shares resulting from the exercise of Warrants, the Company may propose to the Participants who have complied with the exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case
the Participants will receive an advance of existing Shares subject to the condition that they sign an authorization by which the New Shares will, upon issuance, immediately and directly be delivered to the Company or to any other party who advanced
them the existing Shares. 
 The Board of Directors has granted power of attorney to any two (2) members of the Board of Directors
acting jointly, as well as to the managing Director acting individually, with possibility of sub-delegation and the power of subrogation, to take care of the establishment by notary deed of the acceptance of the Warrants offered, the exercise of the
Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the allocation to the unavailable account “issuance premiums” of the
difference between the subscription price for the Shares and the accounting par value, to bring the Articles of Association in accordance with the new situation of the registered capital, to sign and deliver the relevant Euroclear and bank
documentation, and to sign and deliver all necessary documents in connection with the delivery of the Shares (acquired as a result of the exercise of the Warrants) to the Beneficiaries. 

The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been issued.
The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8	Cessation of the Employment or Service Relationship or of the Director’s Mandate 

  

	8.1	Cessation of the employment or service relationship or of the Director’s Mandate 

In case of Cessation of the Employment agreement or Cessation of the Consultancy agreement after the end of the third calendar year following
the calendar year in which the Grant was made, the Beneficiary will have time to exercise, during an Exercise Period, his non-exercised Warrants until the closing date of the second Exercise Period occurring after the date of the Cessation of the
Employment Agreement or the Cessation of the Consultancy Agreement, as applicable, after which date all his remaining non-exercised Warrants shall become null and void. 

If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following
the calendar year in which the Grant was made, all granted Warrants shall automatically become null and void. This principle does however not apply in the event of cessation resulting from decease, Retirement, or sickness or disability. 

In case of Cessation of the Director’s Mandate after the end of the third calendar year following the calendar year in which the Grant was
made, the Beneficiary shall have time to exercise, during an Exercise Period, his non-exercised Warrants until the closing date of the second Exercise Period occurring after the date of the Cessation of the Director’s Mandate, after which date
all his remaining non-exercised Warrants shall become null and void. 
 If Cessation of the Director’s Mandate occurs prior to the end
of the third calendar year following the calendar year in which the Grant was made, but without prejudice to a different decision of the Board of Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants
shall automatically become null and void as follows: 
  

	 	•	 	1/36th of the Offer for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Grant. 

The Beneficiary shall have time to exercise, during an Exercise Period, the Warrants that do not automatically become null and void pursuant to
the abovementioned clause from the first day of the fourth calendar year following the calendar year in which the Grant was made until the closing date of the second Exercise Period occurring during the fourth calendar year following the calendar
year in which the Grant was made, after which date all his remaining non-exercised Warrants shall become null and void. 

  

			
	 	 
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	8.2	Decease 

 In case of decease of a Warrant Holder, all Warrants acquired by such Warrant
Holder pass to his Personal Representative(s) and they must mandatorily be exercised within six (6) months as from the decease, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised
within such period will automatically become null and void. 
 In case of decease prior to the end of the third calendar year following the
calendar year in which the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants granted with the result of the following division: 

 

	
	 number of days between the date of the Grant and the date of decease

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.3	Retirement 

 In case of Retirement of a Warrant Holder, the Warrants acquired by the
Warrant Holder must mandatorily be exercised within six (6) months as from such Retirement, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically
become null and void. 
 In case of Retirement prior to the end of the third calendar year following the calendar year in which the Grant was
made, the number of Warrants acquired shall be determined by multiplying the number of Warrants granted with the result of the following division: 
  

	
	 number of days between the date of the Grant and the date of Retirement

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.4	Sickness or Disability 

 In case of cessation of the employment agreement or of the
consultancy or management agreement as a result of long-term sickness or disability, the Warrants acquired by the Warrant Holder must mandatorily be exercised within six (6) months as from such cessation, during an Exercise Period of two weeks
to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically become null and void. 
 In
case of such cessation prior to the end of the third calendar year following the calendar year in which the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants granted with the result of the
following division: 
  

	
	 number of days between the date of the Grant and the date of such
cessation

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.5	Deviations 

 The Board of Directors may at its discretion decide to deviate at any time
from the provisions set forth in this chapter 8. 

  

			
	 	 
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	9	Protective Measures 

 The Board of Directors is authorized to take appropriate measures
to safeguard the interests of the Warrant Holders in case: 
  

	 	•	 	a fundamental change in the Control of the Company occurs; 

  

	 	•	 	a fundamental change in the regulations occurs; 

  

	 	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

This Plan may, if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be
bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant
Holders would be harmed, the amendments may not be made without their agreement. 
  

	10	Dispute Resolution 

 All disputes relating to this Plan will be brought to the attention
of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Antwerp, department of Mechelen (Belgium)
whereby all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11	Final Provisions 

  

	11.1	Additional Information 

 The Company will provide the Beneficiary at his request a copy
of the articles of association of the Company and possible amendments thereto. 
  

	11.2	Taxes and Social Security Treatment 

 The Company or a Subsidiary shall be entitled, in
accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other following month, and/or the
Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the acceptance, the
fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as
a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
  

	11.3	Costs 

 Stamp duties, stock exchange taxes and similar charges and taxes levied at the
occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

 

	11.4	Relation to employment, consultancy or management agreement or director’s mandate 

No person has a right to participate in this Plan and a participation in this Plan does not give the Beneficiaries a right to future grants of
additional Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or its Subsidiaries. 

Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity as determined in the provisions of his/her
director’s mandate, employment agreement or consultancy or management agreement concluded with the Company or a Subsidiary shall not be affected by his/her participation in the Plan or by any right that he/she may have to participate therein.

 An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation as a result of
the cessation of his mandate, employment agreement or consultancy or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the
rights he/she might have or the claims he/she could make concerning the exercise of Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss or decrease in value of the rights or benefits. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014	 	Page 9 of 10

			
	Free translation – For information purposes only	  	

  

	11.5	Shareholders’ Meetings 

 Warrant Holders have the right to participate in the
Shareholders’ Meetings of the Company, but without voting right and only with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. 

 

	11.6	Communication with Warrant Holders 

 By accepting Warrants, the Participant agrees that
documentation can be validly communicated by the Company by e-mail, including convocations for Shareholders’ Meetings and documentation pertaining to the exercise of Warrants. 

 

	11.7	Address Change 

 Warrant Holders are obliged to keep the Company informed of changes to
their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

*** 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014	 	Page 10 of 10

			
	Free translation for information purposes only		

  

 WARRANT PLAN 2014 (B) 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

  

			
	 	 
		 	

			
	Free translation for information purposes only		

  

 Table of Contents 

 

									
	1		    Base and Purpose		 	3	  
			
	2		    Definitions		 	3	  
			
	3		    Warrants		 	4	  
				
			3.1		General		 	4	  
				
			3.2		Number per Beneficiary		 	4	  
				
			3.3		Transfer restrictions		 	4	  
				
			3.4		Exercise Price		 	4	  
				
			3.5		Administration of the Warrant Plan		 	5	  
			
	4		    Beneficiary of the Plan		 	5	  
			
	5		    Acceptance or Refusal of the Offer		 	5	  
			
	6		    Exercise and Payment Conditions		 	6	  
				
			6.1		Exercise Term		 	6	  
				
			6.2		Exercise Period		 	6	  
				
			6.3		Conditions of Exercise		 	6	  
				
			6.4		Exercise of the Warrants in accordance with the Belgian Companies Code		 	6	  
				
			6.5		Change in Control of the Company		 	6	  
			
	7		    Issuance of New Shares		 	7	  
			
	8		    Cessation of the Employment or Service Relationship		 	7	  
				
			8.1		Cessation of the employment or service relationship		 	7	  
				
			8.2		Decease		 	7	  
				
			8.3		Retirement		 	8	  
				
			8.4		Sickness or Disability		 	8	  
				
			8.5		Deviations		 	8	  
			
	9		    Protective Measures		 	9	  
			
	10		        Dispute Resolution		 	9	  
			
	11		        Final Provisions		 	9	  
				
			11.1		Additional Information		 	9	  
				
			11.2		Taxes and Social Security Treatment		 	9	  
				
			11.3		Costs		 	9	  
				
			11.4		Relation to employment agreement		 	9	  
				
			11.5		Shareholders’ Meetings		 	10	  
				
			11.6		Communication with the Warrant Holder		 	10	  
				
			11.7		Address Change		 	10	  

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 2

			
	Free translation for information purposes only		

  

	1	Base and Purpose 

 The Board of Directors of Galapagos NV (hereinafter referred to as the
“Company”) has approved the present Warrant Plan 2014 (B) by resolution of 14 October 2014 (and by notarial deed of the same day). 

With the Plan set forth hereafter the Company wants to inform the relevant Beneficiary (see infra sub 2 (“Definitions:
Beneficiary”) and sub 4 (“Beneficiary of the Plan”) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiary to help to develop the Company
to a successful enterprise. 
  

	2	Definitions 

 In this Plan the words and terms mentioned hereunder have the meanings
given below: 
 Offer: the written and dated notification to the Beneficiary of the Plan as to the opportunity to acquire Warrants in
accordance with the provisions of this Plan; 
 Offer Letter: the letter specifying the Offer; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly
executed, to the Company, for the attention of the managing director, for the acceptance of the Offer; 
 Shares: the shares of the
Company; 
 Beneficiary: Mr Bart Filius (CFO, Galapagos Group); 

Control: the power, de jure or de facto, to have a decisive influence on the appointment of the majority of the Directors
or on the orientation of the management, as set forth in article 5 et seq. of the Belgian Companies Code. The terms “to Control” and “Controlled by” shall be construed accordingly; 

Participant: a Beneficiary who has accepted the Offer and to whom one or more Warrants have been granted in accordance with this Plan;

 Subsidiary: a company under the Control of the Company, as further set forth in article 6 of the Belgian Companies Code; 

Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of the employment agreement between the
relevant Participant-Employee and either the Company or a Subsidiary (including, for the avoidance of doubt, the relevant employing entity ceasing to be a Subsidiary of the Company), with the exception of a cessation accompanied by a simultaneous
(other) employment or appointment of the relevant Participant (or a company Controlled by the Participant) as a consultant or Employee, with the Company or a Subsidiary; 

New Shares: the Shares to be issued pursuant to the exercise of the Warrants under this Plan; 

Retirement: any Cessation of the Employment agreement, other than for cause, effected on or after the earliest date at which the Warrant
Holder can receive state pension entitlement; 
 Plan: the present Warrant Plan 2014 (B) approved by the Board of Directors, as
amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 
 Board of Directors: the board
of directors of the Company; 
 Personal Representative(s): the heir(s) of a deceased Participant; 

Grant: the moment on which the Beneficiary accepts the Warrants offered. For the purposes of this Plan (including for Belgian fiscal
reasons), the Grant shall be deemed to take place on the sixtieth day following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 3

			
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 Exercise: to make use of the right attached to the Warrants that were acquired by
accepting the Offer, to acquire New Shares at the Exercise Price; 
 Exercise Price: the pre-determined price at which a New Share can
be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise Term; 
 Exercise Term: the term during
which the Beneficiary can exercise his Warrants to acquire Shares of the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 

Exercise Period: a period of two weeks within the Exercise Term, to be determined by the Board of Directors, during which Warrants can
be Exercised; 
 Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800
Mechelen, Belgium; 
 Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term
and the Exercise Period and at the Exercise Price; 
 Warrant Holder: each Beneficiary who owns Warrants; 

Warrant Agreement: the agreement that may be entered into between the Participant and the Company; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract. 

Words and terms denoting the plural shall include the singular and vice versa. 

 

	3	Warrants 

  

	3.1	General 

 The number of Warrants issued in the framework of this Plan is maximum 150,000.
These Warrants will be designated as “Warrants 2014 (B)”. 
 The Warrants are granted by the Company to the Beneficiary for free.

 Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

 

	3.2	Number per Beneficiary 

 The number of Warrants to be offered to the Beneficiary is
determined by the Board of Directors and amounts to 150,000. 
  

	3.3	Transfer restrictions 

 The Warrants received are registered in the name of the Warrant
Holder and cannot be transferred inter vivos once granted to the Beneficiary. 
 The Warrant cannot be encumbered by any pledge or in
any other manner. 
 Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and
void. 
  

	3.4	Exercise Price 

 The Board of Directors shall determine the Exercise Price per Warrant at
the moment of the Offer. 
 The Exercise Price will, at the election of the Board of Directors, at least amount to (a) the closing price
of the Share of the Company on the last trading day preceding the date of the Offer, or (b) the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the
Exercise Price be lower than the accounting par value (rounded up to the higher eurocent) of the Shares at the date of the issuance of the Warrants. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 4

			
	Free translation for information purposes only		

  

 Upon Exercise and subsequent capital increase the Exercise Price must be booked as capital
for an amount equal to the accounting par value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds the accounting par value must be booked as an issuance
premium. 
 In deviation of article 501 of the Belgian Companies Code and without prejudice to the exceptions provided by law, the
Company, represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the distribution of the profit or on the liquidation
surpluses or that may otherwise affect the rights of the Warrant Holder (with the exception of those causing an increase of the accounting par value of the existing Shares (in order not to conflict with article 582 of the Belgian Companies
Code)), even in the event that these decisions might cause a reduction of the benefits offered to the Warrant Holder, unless the only purpose of these decisions and transactions would be such reduction of benefits. 

Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be entitled to a
modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications to (i) the
number of Shares that relates to one Warrant and/or (ii) the Exercise Price. As soon as reasonably practicable, the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants
shall be adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 
  

	3.5	Administration of the Warrant Plan 

 The Company is responsible for the management and
the administration of the Plan and ensures that all questions of the Beneficiary or Warrant Holder are answered accurately and rapidly. 
  

	4	Beneficiary of the Plan 

 The Beneficiary is the individual as indicated in
section 2 (“Definitions - Beneficiary”). 
 The Beneficiary is an Employee of a Subsidiary of the Company. Under this Plan, no
Warrants shall be offered to beneficiaries that are no Employee of the Company or of a Subsidiary of the Company. 
  

	5	Acceptance or Refusal of the Offer 

 The Beneficiary has the possibility to accept the
individual Offer in whole, in part or not at all. Acceptance of the Offer has to be formally established by ticking the relevant paragraph in the Notice of Acceptance. 

The Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his/her decision regarding the Offer: (full or partial)
Acceptance or Refusal. 
 The Notice of Acceptance needs to be returned prior to the ultimate date of response as set forth in the Notice of
Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the Offer. 

In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be deemed to
have refused the Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will be
recorded as a Warrant Holder in the register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holder and previous warrant holders and the number of Warrants held
by them. The Warrant Holder will receive a confirmation of the number of Warrants he has accepted. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 5

			
	Free translation for information purposes only		

  

 The Nomination and Remuneration Committee may decide to replace or complete the Notice of
Acceptance by or with a written Warrant Agreement to be signed by the Participant and the Company and which shall contain the conditions determined by the Nomination and Remuneration Committee, in accordance with this Plan. 

The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been issued by notary deed establishing the
acceptance. 
  

	6	Exercise and Payment Conditions 

  

	6.1	Exercise Term 

 The Exercise Term is eight (8) years, starting from the date of the
Offer. 
  

	6.2	Exercise Period 

 Warrants may not be exercised prior to the end of the third calendar
year following the calendar year in which the Grant was made. 
 As of the commencement of the fourth calendar year following the calendar
year in which the Grant was made, all vested Warrants may be exercised, during an Exercise Period. 
 The Board of Directors will establish
at least one Exercise Period of two weeks per semester. It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 

The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed
periods during which the Warrants cannot be exercised. 
  

	6.3	Conditions of Exercise 

 Individual Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board
of Directors or to an authorized person designated by the Board of Directors, and to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage insofar the Exercise Term has not expired. 
  

	6.4	Exercise of the Warrants in accordance with the Belgian Companies Code 

 In case a
Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely exercisable pursuant to article 501 of the Belgian Companies Code and is thus also prematurely
exercised pursuant to article 501 of the Belgian Companies Code, the New Shares that the Warrant Holder receives as a result of such Exercise will not be transferable, except with the explicit prior consent of the Board of Directors, until such
time the Warrant would have become exercisable in accordance with the Plan. 
  

	6.5	Change in Control of the Company 

 Notwithstanding anything to the contrary in this Plan,
in the event of a change in Control of the Company, all Warrants granted to a Warrant Holder whose relationship with the Company or with a Subsidiary has not ended prior to such change in Control and whose Warrants have not all vested yet, 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 6

			
	Free translation for information purposes only		

  

 shall, in principle, immediately vest and become immediately exercisable during an Exercise
Period determined by the Board of Directors, provided, however, that in compliance with applicable (tax) laws the Board of Directors is authorized to establish certain conditions for such vesting and/or exercising that will be applicable the Warrant
Holder. 
  

	7	Issuance of New Shares 

 The Company shall only be obliged to issue New Shares pursuant
to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied with. 
 As soon as these exercise
conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfill the required administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of
Directors and at least once per semester have established the capital increase. 
 New Shares participate in the profit of the financial year
of the Company that started on the first of January of the year in which the relevant New Shares have been issued. 
 In view of a rapid
delivery of the Shares resulting from the exercise of Warrants, the Company may propose to the Participant who has complied with the exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case the
Participant will receive an advance of existing Shares subject to the condition that the Participant signs an authorization by which the New Shares will, upon issuance, immediately and directly be delivered to the Company or to any other party who
advanced the existing Shares. 
 The Board of Directors has granted power of attorney to any two (2) members of the Board of Directors
acting jointly, as well as to the managing Director acting individually, with possibility of sub-delegation and the power of subrogation, to take care of the establishment by notary deed of the acceptance of the Warrants offered, the exercise of the
Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the allocation to the unavailable account “issuance premiums” of the
difference between the subscription price for the Shares and the accounting par value, to bring the Articles of Association in accordance with the new situation of the registered capital, to sign and deliver the relevant Euroclear and bank
documentation, and to sign and deliver all necessary documents in connection with the delivery of the Shares (acquired as a result of the exercise of the Warrants) to the Beneficiary. 

The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been issued.
The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8	Cessation of the Employment or Service Relationship 

  

	8.1	Cessation of the employment or service relationship 

 In case of Cessation of the
Employment agreement after the end of the third calendar year following the calendar year in which the Grant was made, the Beneficiary will have time to exercise, during an Exercise Period, his non-exercised Warrants until the closing date of the
second Exercise Period occurring after the date of Cessation of the Employment agreement, after which date all his remaining non-exercised Warrants shall become null and void. If Cessation of the Employment agreement occurs prior to the end of the
third calendar year following the calendar year in which the Grant was made, all granted Warrants shall automatically become null and void. This principle does however not apply in the event of cessation resulting from decease, Retirement, or
sickness or disability. 
  

	8.2	Decease 

 In case of decease of the Warrant Holder, all Warrants acquired by such Warrant
Holder pass to his Personal Representative(s) and they must mandatorily be exercised within six (6) months as from the decease, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised
within such period will automatically become null and void. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 7

			
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 In case of decease prior to the end of the third calendar year following the calendar year in
which the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants granted with the result of the following division: 
  

	
	 number of days between the date of the Grant and the date of decease

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.3	Retirement 

 In case of Retirement of the Warrant Holder, the Warrants acquired by the
Warrant Holder must mandatorily be exercised within six (6) months as from such Retirement, during an Exercise Period of two weeks to be determined by the Board of Directors. Warrants that are not exercised within such period will automatically
become null and void. 
 In case of Retirement prior to the end of the third calendar year following the calendar year in which the Grant was
made, the number of Warrants acquired shall be determined by multiplying the number of Warrants granted with the result of the following division: 
  

	
	 number of days between the date of the Grant and the date of Retirement

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.4	Sickness or Disability 

 In case of cessation of the employment agreement as a result of
long-term sickness or disability, the Warrants acquired by the Warrant Holder must mandatorily be exercised within six (6) months as from such cessation, during an Exercise Period of two weeks to be determined by the Board of Directors.
Warrants that are not exercised within such period will automatically become null and void. 
 In case of such cessation prior to the end of
the third calendar year following the calendar year in which the Grant was made, the number of Warrants acquired shall be determined by multiplying the number of Warrants granted with the result of the following division: 

 

	
	 number of days between the date of the Grant and the date of such
cessation

	number of days between the date of the Grant and the end of the third calendar year following the calendar year in which the Grant was made

 The Warrants so acquired shall be exercisable during a period of six (6) months, starting as of the first
day of the fourth calendar year following the calendar year in which the Grant was made, during an Exercise Period of two weeks to be determined by the Board of Directors. 
  

	8.5	Deviations 

 The Board of Directors may at its discretion decide to deviate at any time
from the provisions set forth in this chapter 8. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 8

			
	Free translation for information purposes only		

  

	9	Protective Measures 

 The Board of Directors is authorized to take appropriate measures
to safeguard the interests of the Warrant Holder in case: 
  

	 	•	 	a fundamental change in the Control of the Company occurs; 

  

	 	•	 	a fundamental change in the regulations occurs; 

  

	 	•	 	a serious and exceptional circumstance jeopardizing the rights of the Beneficiary occurs. 

 This
Plan may, if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not
harm the rights of the Warrant Holder existing under this Plan. In the event the rights of the Warrant Holder existing under this Plan would be harmed, the amendments may not be made without its agreement. 

 

	10	Dispute Resolution 

 All disputes relating to this Plan will be brought to the attention
of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Antwerp, department of Mechelen (Belgium)
whereby all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11	Final Provisions 

  

	11.1	Additional Information 

 The Company will provide the Beneficiary at his request a copy
of the articles of association of the Company and possible amendments thereto. 
  

	11.2	Taxes and Social Security Treatment 

 The Company or a Subsidiary shall be entitled, in
accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other following month, and/or the
Beneficiary shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the fact of the grant, the acceptance, the
fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as
a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
  

	11.3	Costs 

 Stamp duties, stock exchange taxes and similar charges and taxes levied at the
occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

 

	11.4	Relation to employment agreement 

 No person has a right to participate in this Plan and
a participation in this Plan does not give the Beneficiary a right to future grants of additional Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or its Subsidiaries. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 9

			
	Free translation for information purposes only		

  

 Notwithstanding any provision of the Plan, the rights and obligations of any individual or
entity as determined in the provisions of his/her employment agreement concluded with the Company or a Subsidiary shall not be affected by his/her participation in the Plan or by any right that he/she may have to participate therein. 

An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation as a result of the
cessation of his mandate, employment agreement or consultancy or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the rights
he/she might have or the claims he/she could make concerning the exercise of Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss or decrease in value of the rights or benefits. 

 

	11.5	Shareholders’ Meetings 

 The Warrant Holder has the right to participate in the
Shareholders’ Meetings of the Company, but without voting right and only with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. 

 

	11.6	Communication with the Warrant Holder 

 By accepting Warrants, the Participant agrees
that documentation can be validly communicated by the Company by e-mail, including convocations for Shareholders’ Meetings and documentation pertaining to the exercise of Warrants. 

 

	11.7	Address Change 

 The Warrant Holder is obliged to keep the Company informed of changes to
its address and changes to its e-mail address. Communications sent by the Company to the last known address or e-mail address of the Participant are validly made. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2014 (B)		Page 10

			
	Free translation for information purposes only		

  

 WARRANT PLAN 2015 

ON SHARES 

GALAPAGOS NV 

GENERAL RULES 

[DRAFT – subject to FSMA comments and approval by Galapagos’ Annual Shareholders’ Meeting to be held on
28 April 2015] 

  

			
	 	 
		 	

			
	Free translation for information purposes		

  

 Table of Contents 

 

									
	1		 Basis and Purpose
		 	3	  
			
	2		 Definitions
		 	3	  
			
	3		 Warrants
		 	4	  
				
			 3.1
		General		 	4	  
				
			 3.2
		Number per Beneficiary		 	5	  
				
			 3.3
		Transfer restrictions		 	5	  
				
			 3.4
		Exercise Price		 	5	  
				
			 3.5
		Administration of the Warrant Plan		 	5	  
			
	4		 Beneficiaries of the Plan
		 	6	  
			
	5		 Acceptance or Refusal of the Offer
		 	6	  
			
	6		 Exercise and Payment Conditions
		 	6	  
				
			 6.1
		Exercise Term		 	6	  
				
			 6.2
		Vesting of Warrants		 	6	  
				
			 6.3
		Exercise Period		 	6	  
				
			 6.4
		Conditions of Exercise		 	7	  
				
			 6.5
		Exercise of the Warrants in accordance with the Belgian Companies Code		 	7	  
				
			 6.6
		Change in Control of the Company		 	7	  
			
	7		 Issuance of New Shares
		 	7	  
			
	8		 Cessation of the Employment or Service Relationship or of the Director’s Mandate
		 	8	  
				
			 8.1
		Cessation of the employment or service relationship or of the Director’s Mandate		 	8	  
				
			 8.2
		Decease		 	9	  
				
			 8.3
		Retirement		 	9	  
				
			 8.4
		Sickness or Disability		 	9	  
				
			 8.5
		Deviations		 	10	  
			
	9		 Amendments and Modifications
		 	10	  
			
	10		 Dispute Resolution
		 	10	  
			
	11		 Final Provisions
		 	10	  
				
			 11.1
		Additional Information		 	10	  
				
			 11.2
		Taxes and Social Security Treatment		 	10	  
				
			 11.3
		Costs		 	11	  
				
			 11.4
		Relation to employment, consultancy or management agreement or director’s mandate		 	11	  
				
			 11.5
		Shareholders’ Meetings		 	11	  
				
			 11.6
		Communication with Warrant Holders		 	11	  
				
			 11.7
		Address Change		 	11	  

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 2 of 11

			
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	1	Basis and Purpose 

 The Board of Directors of Galapagos NV (hereinafter referred to as
the “Company”) has approved the present Warrant Plan 2015 by resolution of [—] 2015 (and by notarial deed of the same date). 

With the Plan set forth hereafter the Company wants to inform all Beneficiaries (see infra sub 2 (“Definitions: Beneficiary”)
and sub 4 (“Beneficiaries of the Plan”)) of the conditions under which the Company is willing to offer Warrants. The Company thus wants to acknowledge the efforts made by the Beneficiaries to help to develop the Company to a
successful enterprise. 
  

	2	Definitions 

 In this Plan the words and terms mentioned hereunder have the meanings
given below: 
 Beneficiary: the Employees, Consultants and Directors of the Company and its Subsidiaries whose name is mentioned in
Annex A to this Warrant Plan 2015; 
 Board of Directors: the board of directors of the Company; 

Cessation of the Consultancy agreement: the effective date of the cessation for whatever reason of the Consultancy or management
agreement between the relevant Warrant Holder-Consultant and either the Company or a Subsidiary (including, for the avoidance of doubt, the relevant entity ceasing to be a Subsidiary of the Company), with the exception of a cessation accompanied by
a simultaneous (other) employment or appointment of the relevant Warrant Holder (or a company Controlled by the Warrant Holder) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

Cessation of the Director’s Mandate: the effective date of the cessation for whatever reason of the director’s mandate
exercised by the relevant Warrant Holder-Director with either the Company or a Subsidiary (including, for the avoidance of doubt, the relevant entity ceasing to be a Subsidiary of the Company), except for a cessation accompanied by a simultaneous
(other) employment or appointment of the relevant Warrant Holder (or a company Controlled by the Warrant Holder) as a Director, Consultant or Employee, with the Company or a Subsidiary; 

Cessation of the Employment agreement: the effective date of the cessation, for whatever reason, of the employment agreement between
the relevant Warrant Holder-Employee and either the Company or a Subsidiary (including, for the avoidance of doubt, the relevant employing entity ceasing to be a Subsidiary of the Company), with the exception of a cessation accompanied by a
simultaneous (other) employment or appointment of the relevant Warrant Holder (or a company Controlled by the Warrant Holder) as a Consultant or Employee, with the Company or a Subsidiary; 

Company: the limited liability company Galapagos, having its registered office at Generaal De Wittelaan, L11 A3, 2800 Mechelen,
Belgium; 
 Consultant: a natural person or legal entity who provides services to the Company or a Subsidiary on a contractual basis,
but who is not an Employee (irrespective of whether the contract was entered into directly with the relevant natural person or legal entity – or in case of a natural person – with a legal entity who has entrusted the performance of the
services to such natural person); 
 Control: the power, de jure or de facto, to have a decisive influence on the
appointment of the majority of the Directors or on the orientation of the management, as set forth in article 5 et seq. of the Belgian Companies Code. The terms “to Control” and “Controlled by” shall be
construed accordingly; 
 Director: a natural person or legal entity who at any moment during the existence of the Company exercises
a director’s mandate in the Company to which they were appointed by either the Shareholders’ Meeting or the Board of Directors by way of cooptation; 

Employee: each employee of the Company or a Subsidiary with a permanent employment contract; 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 3 of 11

			
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 Exercise Period: a period of two weeks within the Exercise Term, to be determined by
the Board of Directors, during which Warrants can be Exercised; 
 Exercise Price: the pre-determined price at which a New Share can
be acquired when Exercising a Warrant, during one of the Exercise Periods within the Exercise Term; 
 Exercise Term: the term during
which the Warrant Holder can exercise his Warrants to acquire Shares of the Company, taking into account the specific Exercise Periods and the specific exercise conditions as set forth in chapter 6 of this Plan; 

Exercise: to make use of the right attached to the Warrants that were acquired by accepting the Offer, to acquire New Shares at the
Exercise Price; 
 Grant: the moment on which the Beneficiary accepts the Warrants offered. For the purposes of this Plan (including
for Belgian fiscal reasons), the Grant shall be deemed to take place on the sixtieth day following the date of the Offer if the Offer is accepted within sixty days after the date of the Offer; 

New Shares: the Shares to be issued pursuant to the exercise of the Warrants under this Plan; 

Notice of Acceptance: the form that the Beneficiary receives at the moment of the Offer and that the Beneficiary needs to return, duly
executed, to the Company for the acceptance of the Offer; 
 Offer: the written and dated notification to the Beneficiaries of the
Plan as to the opportunity for them to acquire Warrants in accordance with the provisions of this Plan; 
 Personal
Representative(s): the heir(s) of a deceased Warrant Holder; 
 Plan: the present Warrant Plan 2015 approved by the Board of
Directors, as amended from time to time by the Board of Directors in accordance with the provisions of this Plan; 
 Retirement: any
Cessation of the Employment agreement or Cessation of the Consultancy agreement, other than for cause, effected on or after the earliest date at which the Warrant Holder can receive state pension entitlement; 

Shares: the shares of the Company; 

Subsidiary: a company under the Control of the Company, as further set forth in article 6 of the Belgian Companies Code; 

Warrant Agreement: the agreement that may be entered into between the Warrant Holder and the Company; 

Warrant: the right to subscribe, within the framework of this Plan, to one New Share within the Exercise Term and the Exercise Period
and at the Exercise Price; 
 Warrant Holder: each Beneficiary who has accepted the Offer and who owns one or more Warrants in
accordance with this Plan. 
 Words and terms denoting the plural shall include the singular and vice versa. 

 

	3	Warrants 

  

	3.1	General 

 The number of Warrants issued in the framework of this Plan is maximum 625,740.
These Warrants will be designated as “Warrants 2015”. The detail of the number of Warrants per Beneficiary, offered under this Plan, is set forth in Annex A to this Plan. 

The Warrants are granted by the Company to the Beneficiaries for free. 

Each Warrant entitles the Beneficiary to subscribe to one New Share in accordance with the terms and conditions of the Plan. 

Offers under this Plan do not need to be the same for every Beneficiary. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 4 of 11

			
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	3.2	Number per Beneficiary 

 The number of Warrants to be offered to the Beneficiaries is
determined by the Board of Directors and, as regards the Directors of the Company, by the Shareholders’ Meeting of the Company. This number is set forth in Annex A. 

 

	3.3	Transfer restrictions 

 The Warrants received are registered in the name of the Warrant
Holder and cannot be transferred inter vivos once granted to a Beneficiary. 
 The Warrant cannot be encumbered by any pledge or in
any other manner. 
 Warrants that, in contravention with the foregoing, are transferred or encumbered shall automatically become null and
void. 
  

	3.4	Exercise Price 

 The Board of Directors shall determine the Exercise Price per Warrant at
the moment of the Offer. 
 As the Shares of the Company are listed or traded on a regulated market at the date of the Offer, the Exercise
Price of the Warrants for an Offer to an Employee will, at the election of the Board of Directors, at least be equal to (a) the closing price of the Share of the Company on the last trading day preceding the date of the Offer, or (b) the
average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. For an Offer to a Consultant or a Director, the Exercise Price will, in accordance with article 598 of the Belgian
Companies Code, at least amount to the average of the closing price of the Share of the Company during the last thirty (30) days preceding the date of the Offer. In no event will the Exercise Price be lower than the accounting par value
(rounded up to the higher eurocent) of the Shares at the date of the issuance of the Warrants. 
 Upon Exercise and subsequent capital
increase the Exercise Price must be booked as capital for an amount equal to the accounting par value of the Shares at the moment of the establishment of the capital increase resulting from the Exercise. The part of the Exercise Price that exceeds
the accounting par value must be booked as an issuance premium. 
 In deviation of article 501 of the Belgian Companies Code and without
prejudice to the exceptions provided by law, the Company, represented by the Board of Directors, expressly reserves the right to take any possible decisions and to carry out any possible transactions which may have an impact on its capital, on the
distribution of the profit or on the liquidation surpluses or that may otherwise affect the rights of the Warrant Holders (with the exception of those causing an increase of the accounting par value of the existing Shares (in order not to conflict
with article 582 of the Belgian Companies Code)), even in the event that these decisions might cause a reduction of the benefits offered to the Warrant Holders, unless the only purpose of these decisions and transactions would be such reduction
of benefits. 
 Should the rights of the Warrant Holder be affected by such a decision or transaction, the Warrant Holder shall not be
entitled to a modification of the Exercise Price, a modification of the exercise conditions or any other form of (financial or other) compensation. The Company, represented by the Board of Directors, may, in its sole discretion, make modifications
to (i) the number of Shares that relates to one Warrant and/or (ii) the Exercise Price. As soon as reasonably practicable, the Board of Directors shall give notice in writing of such modification to the relevant Warrant Holder. 

In case of a merger, demerger or stock-split of the Company, the rights of the outstanding Warrants and/or the Exercise Price of the Warrants
shall be adjusted in accordance with the conversion ratio applicable at the occasion of the merger, demerger or the stock-split to the other shareholders. 
  

	3.5	Administration of the Warrant Plan 

 The Company is responsible for the management and
the administration of the Plan and ensures that all questions of Beneficiaries or Warrant Holders are answered accurately and rapidly. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 5 of 11

			
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	4	Beneficiaries of the Plan 

 Beneficiaries are the individuals as indicated in
section 2 (“Definitions - Beneficiary”). 
 The Warrants under this Plan are in majority reserved for and granted to
Employees. The number of Beneficiaries consists in minority of Directors and Consultants and in majority of Employees. A majority of the issued Warrants is reserved for and granted to Employees. 

 

	5	Acceptance or Refusal of the Offer 

 The Beneficiaries have the possibility to accept the
individual Offer in whole, in part or not at all. Each Beneficiary shall receive a Notice of Acceptance wherein the Beneficiary mentions his/her decision regarding the Offer: (full or partial) Acceptance or Refusal. Acceptance of the Offer has to be
formally established by ticking the relevant paragraph in the Notice of Acceptance. 
 The Notice of Acceptance needs to be returned prior to
the ultimate date of response as set forth in the Notice of Acceptance, duly completed and signed, to the address mentioned in the Notice of Acceptance. Such ultimate date of response cannot be later than 75 calendar days after the date of the
Offer. 
 In case the Beneficiary has not accepted the Offer in writing prior to the date mentioned in the Notice of Acceptance, he shall be
deemed to have refused the Offer. 
 The Warrants are registered in the name of the Beneficiary. In case of acceptance, the Beneficiary will
be recorded as a Warrant Holder in the register of warrant holders of the Company. This register is kept at the registered office of the Company, mentioning the identity of the Warrant Holders and previous warrant holders and the number of Warrants
held by them. The Warrant Holder will receive a confirmation of the number of Warrants he has accepted. 
 The Nomination and Remuneration
Committee may decide to replace or complete the Notice of Acceptance by or with a written Warrant Agreement to be signed by the Warrant Holder and the Company and which shall contain the conditions determined by the Nomination and Remuneration
Committee, in accordance with this Plan. 
 The Beneficiary who has accepted the Offer will receive the Warrants as soon as these have been
issued by notary deed establishing the acceptance. 
  

	6	Exercise and Payment Conditions 

  

	6.1	Exercise Term 

 The Exercise Term is eight (8) years, starting from the date of the
Offer. 
  

	6.2	Vesting of Warrants 

 Except to the extent expressly stated otherwise in this Plan or
decided otherwise by the Board of Directors in accordance with section 8.5, the Warrants will vest as follows: 
  

	 	-	for Warrantholders who are Employees or Consultants: all granted Warrants will fully vest on the first day of the fourth calendar year following the calendar year in which the Grant was made; and 

 

	 	-	for Warrantholders who are Directors: 1/36th of the granted Warrants will vest per started month following the Grant. 

 

	6.3	Exercise Period 

 Warrants may not be exercised prior to the end of the third calendar
year following the calendar year in which the Grant was made. 
 As of the commencement of the fourth calendar year following the calendar
year in which the Grant was made, all vested Warrants may be exercised, during an Exercise Period. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 6 of 11

			
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 The Board of Directors will establish at least one Exercise Period of two weeks per semester.
It is the responsibility of the Beneficiary to timely seek information from the Company relating to the establishment of Exercise Periods. 

The Board of Directors may decide, in accordance with the applicable rules relating to abuse of insider information, to establish closed
periods during which the Warrants cannot be exercised. 
  

	6.4	Conditions of Exercise 

 Individual Warrants can only be exercised as a whole. 

In order to exercise a Warrant, the Warrant Holder needs to submit an appropriate declaration to that effect (the exercise form) to the Board
of Directors or to an authorized person designated by the Board of Directors, and to pay the Exercise Price into a bank account designated by the Company and opened in the name of the Company. 

On the exercise form, the Warrant Holder needs to mention the number of Warrants he desires to exercise. 

In case the bank account is not or not sufficiently credited prior to the end of the Exercise Period, the Warrants will be deemed not to be
exercised. The Company will inform the Warrant Holder thereof and will reimburse the amount that was deposited too late or was insufficient as soon as possible within the limits set by law. The Warrants will consequently not be lost and remain
exercisable at a later stage insofar as the Exercise Term has not expired. 
  

	6.5	Exercise of the Warrants in accordance with the Belgian Companies Code 

 In case a
Warrant, that is not exercisable or cannot be exercised in accordance with the issuance conditions (as specified in the Plan), becomes prematurely exercisable pursuant to article 501 of the Belgian Companies Code and is thus also prematurely
exercised pursuant to article 501 of the Belgian Companies Code, the New Shares that the Warrant Holders receives as a result of such Exercise will not be transferable, except with the explicit prior consent of the Board of Directors, until
such time as the Warrant would have become exercisable in accordance with the Plan. 
  

	6.6	Change in Control of the Company 

 Notwithstanding anything to the contrary in this Plan,
in the event of a change in Control of the Company, all Warrants granted to a Warrant Holder whose relationship with the Company or with a Subsidiary has not ended prior to such change in Control, shall, in principle, immediately vest (to the extent
they had not all vested yet) and become immediately exercisable during an Exercise Period determined by the Board of Directors, provided, however, that in compliance with applicable (tax) laws the Board of Directors is authorized to establish
certain conditions for such vesting and/or exercising that will be applicable to some or all of the Warrant Holders involved. 
  

	7	Issuance of New Shares 

 The Company shall only be obliged to issue New Shares pursuant
to the Exercise of Warrants if all exercise conditions set forth in chapter 6 have been complied with. 
 As soon as these exercise
conditions are complied with, the New Shares will be issued, taking into account the time needed to fulfill the required administrative formalities. The Board of Directors shall to this effect timely at a date to be determined by the Board of
Directors and at least once per semester have established the capital increase. 
 New Shares participate in the profit of the financial year
of the Company that started on the first of January of the year in which the relevant New Shares have been issued. 
 In view of a rapid
delivery of the Shares resulting from the exercise of Warrants, the Company may propose to the Warrant Holders who have complied with the exercise conditions to receive existing Shares awaiting the issuance of New Shares by notary deed. In such case
the Warrant Holders will 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 7 of 11

			
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receive an advance of existing Shares subject to the condition that they sign an authorization by which the New Shares will, upon issuance, immediately and directly be delivered to the Company or
to any other party who advanced them the existing Shares. 
 The Board of Directors has granted power of attorney to any two (2) members
of the Board of Directors acting jointly, as well as to the managing Director acting individually, with possibility of sub-delegation and the power of subrogation, to take care of the establishment by notary deed of the acceptance of the Warrants
offered, the exercise of the Warrants, the issuance of the corresponding number of New Shares, the payment of the exercise price in cash, the corresponding realization of the capital increase, the allocation to the unavailable account “issuance
premiums” of the difference between the subscription price for the Shares and the accounting par value, to bring the Articles of Association in accordance with the new situation of the registered capital, to sign and deliver the relevant
Euroclear and bank documentation, and to sign and deliver all necessary documents in connection with the delivery of the Shares (acquired as a result of the exercise of the Warrants) to the Beneficiaries. 

The Company will take the necessary actions to have the New Shares listed for trading on a regulated market as soon as they have been issued.
The Company has not issued VVPR strips and has no intention to do so in the future. 
  

	8	Cessation of the Employment or Service Relationship or of the Director’s Mandate 

  

	8.1	Cessation of the employment or service relationship or of the Director’s Mandate 

In case of Cessation of the Employment agreement or Cessation of the Consultancy agreement after the end of the third calendar year following
the calendar year in which the Grant was made, the Warrant Holder will have time to exercise, during an Exercise Period, his non-exercised Warrants until the closing date of the second Exercise Period occurring after the date of the Cessation of the
Employment Agreement or the Cessation of the Consultancy Agreement, as applicable, after which date all his remaining non-exercised Warrants shall become null and void. 

If Cessation of the Employment agreement or Cessation of the Consultancy agreement occurs prior to the end of the third calendar year following
the calendar year in which the Grant was made, all granted Warrants shall automatically become null and void. This principle does however not apply in the event of cessation resulting from decease, Retirement, or sickness or disability. 

In case of Cessation of the Director’s Mandate after the end of the third calendar year following the calendar year in which the Grant was
made, the Warrant Holder shall have time to exercise, during an Exercise Period, his non-exercised Warrants until the closing date of the second Exercise Period occurring after the date of the Cessation of the Director’s Mandate, after which
date all his remaining non-exercised Warrants shall become null and void. 
 If Cessation of the Director’s Mandate occurs prior to the
end of the third calendar year following the calendar year in which the Grant was made, but without prejudice to a different decision of the Board of Directors taken after the Cessation of the Director’s Mandate, a part of the granted Warrants
shall automatically become null and void as follows: 
  

	 	-	 	1/36th of the number of granted Warrants for each full month between the Cessation of the Director’s Mandate and the third anniversary of the Grant.

 The Warrant Holder shall have time to exercise, during an Exercise Period, the Warrants that do not automatically become
null and void pursuant to the abovementioned clause from the first day of the fourth calendar year following the calendar year in which the Grant was made until the closing date of the second Exercise Period occurring during the fourth calendar year
following the calendar year in which the Grant was made, after which date all his remaining non-exercised Warrants shall become null and void. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 8 of 11

			
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	8.2	Decease 

 In case of decease of a Warrant Holder, all fully vested Warrants acquired by
such Warrant Holder pass to his Personal Representative(s) and such Personal Representative(s) will have time to exercise, during an Exercise Period, such Warrants until the closing date of the second Exercise Period occurring after the date of the
death of the Warrant Holder, after which date all remaining non-exercised Warrants will automatically become null and void. 
 In case of
decease prior to the end of the third calendar year following the calendar year in which the Grant was made, the number of vested Warrants shall be determined by multiplying the number of Warrants granted with the result of the following division:

  

	
	 number of days between the date of the Grant and the date of decease

	number of days between the date of the Grant and the end of the third calendar year
following the calendar year in which the Grant was made

 The Personal Representative(s) will have time to exercise, during an Exercise Period, the vested Warrants that
do not automatically become null and void pursuant to the abovementioned clause from the first day of the fourth calendar year following the calendar year in which the Grant was made until the closing date of the second Exercise Period occurring
during the fourth calendar year following the calendar year in which the Grant was made, after which date all remaining non-exercised Warrants shall become null and void. 
  

	8.3	Retirement 

 In case of Retirement of a Warrant Holder, the Warrant Holder will have time
to exercise his fully vested Warrants, during an Exercise Period, until the closing date of the second Exercise Period occurring after the date of Retirement of the Warrant Holder, after which date all his remaining non-exercised Warrants will
automatically become null and void. 
 In case of Retirement prior to the end of the third calendar year following the calendar year in which
the Grant was made, the number of vested Warrants shall be determined by multiplying the number of Warrants granted with the result of the following division: 
  

	
	 number of days between the date of the Grant and the date of Retirement

	number of days between the date of the Grant and the end of the third calendar year
following the calendar year in which the Grant was made

 The Warrant Holder will have time to exercise, during an Exercise Period, the vested Warrants that do not
automatically become null and void pursuant to the abovementioned clause from the first day of the fourth calendar year following the calendar year in which the Grant was made until the closing date of the second Exercise Period occurring during the
fourth calendar year following the calendar year in which the Grant was made, after which date all remaining non-exercised Warrants shall become null and void. 
  

	8.4	Sickness or Disability 

 In case of cessation of the employment agreement or of the
consultancy or management agreement as a result of long-term sickness or disability, the Warrant Holder will have time to exercise his fully vested Warrants, during an Exercise Period, until the closing date of the second Exercise Period occurring
after such cessation, after which date all his remaining non-exercised Warrants will automatically become null and void. 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 9 of 11

			
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 In case of such cessation prior to the end of the third calendar year following the calendar
year in which the Grant was made, the number of vested Warrants shall be determined by multiplying the number of Warrants granted with the result of the following division: 
  

	
	 number of days between the date of the Grant and the date of such
cessation

	number of days between the date of the Grant and the end of the third calendar year
following the calendar year in which the Grant was made

 The Warrant Holder will have time to exercise, during an Exercise Period, the vested Warrants that do not
automatically become null and void pursuant to the abovementioned clause from the first day of the fourth calendar year following the calendar year in which the Grant was made until the closing date of the second Exercise Period occurring during the
fourth calendar year following the calendar year in which the Grant was made, after which date all remaining non-exercised Warrants shall become null and void. 
  

	8.5	Deviations 

 The Board of Directors may at its discretion decide to deviate at any time
from the provisions set forth in this chapter 8. 
  

	9	Amendments and Modifications 

 The Board of Directors is authorized to take appropriate
measures to safeguard the interests of the Warrant Holders in case: 
  

	 	-	a fundamental change in the Control of the Company occurs; 

  

	 	-	a fundamental change in the applicable laws or regulations occurs; or 

  

	 	-	a serious and exceptional circumstance jeopardizing the rights of the Beneficiaries occurs. 

 In
addition, the Board of Directors may amend the provisions of this Plan to the benefit of the Warrant Holders, to the extent that the contemplated amendments comply with all applicable laws. 

This Plan may, if required by the circumstances, be amended by the Company. The Beneficiary shall be informed of such amendments and will be
bound by them. The amendments may in no event affect the essential provisions of the Plan. The amendments may not harm the rights of the under this Plan existing Warrant Holders. In the event the rights of the under this Plan existing Warrant
Holders would be harmed, the amendments may not be made without their agreement. 
  

	10	Dispute Resolution 

 All disputes relating to this Plan will be brought to the attention
of the Board of Directors, who may propose an amicable settlement for a dispute, as the case may be. If required the dispute will be submitted to Courts and Tribunals competent for the judicial area of Antwerp, department of Mechelen (Belgium)
whereby all parties involved shall make election of domicile at the seat of the Company. This Plan is governed by Belgian law. 
  

	11	Final Provisions 

  

	11.1	Additional Information 

 The Company will provide the Beneficiary at his request with a
copy of the articles of association of the Company and any amendments thereto. 
  

	11.2	Taxes and Social Security Treatment 

 The Company or a Subsidiary shall be entitled, in
accordance with the applicable law or customs, to apply a withholding on the cash salary or the compensation for the month in which the taxable moment occurs or on the cash salary or the compensation of any other following month, and/or the
Beneficiary 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 10 of 11

			
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shall be obliged to pay to the Company or a Subsidiary (if so required by the Company or by a Subsidiary) the amount of any tax and/or social security contributions due or payable because of the
fact of the grant, the acceptance, the fact that Warrants become susceptible of being exercised or of the exercise of the Warrants, or due or payable in respect of the delivery of the New Shares. 

The Company or a Subsidiary shall be entitled, in accordance with the applicable law or customs, to prepare the required reports, necessary as
a result of grant of the Warrants, the fact that Warrants become susceptible of being exercised, or the delivery of the Shares. 
  

	11.3	Costs 

 Stamp duties, stock exchange taxes and similar charges and taxes levied at the
occasion of the exercise of the Warrants and/or the delivery of the New Shares or existing Shares shall be borne by the Warrant Holder. 

Costs relating to the issue of the Warrants or to the issue of New Shares shall be borne by the Company. 

 

	11.4	Relation to employment, consultancy or management agreement or director’s mandate 

No person has a right to participate in this Plan and a participation in this Plan does not give the Beneficiaries a right to future grants of
additional Warrants. The grant of Warrants under this Plan does not contain a promise of a continuous employment by the Company or its Subsidiaries. 

Notwithstanding any provision of the Plan, the rights and obligations of any individual or entity as determined in the provisions of his/her
director’s mandate, employment agreement or consultancy or management agreement concluded with the Company or a Subsidiary shall not be affected by his/her participation in the Plan or by any right that he/she may have to participate therein.

 An individual to whom Warrants are granted in accordance with the Plan shall not be entitled to any damages or compensation as a result of
the cessation of his mandate, employment agreement or consultancy or management agreement with the Company or a Subsidiary, based on any reason whatsoever, to the extent that these rights would arise or might arise based on the cessation of the
rights he/she might have or the claims he/she could make concerning the exercise of Warrants pursuant to the Plan because of the cessation of such agreement or by reason of the loss or decrease in value of the rights or benefits. 

 

	11.5	Shareholders’ Meetings 

 Warrant Holders have the right to participate in the
Shareholders’ Meetings of the Company, but without voting right and only with an advisory voice, subject to complying with the formalities set forth in the convocation for the Shareholders’ Meeting. 

 

	11.6	Communication with Warrant Holders 

 By accepting Warrants, the Warrant Holder agrees
that documentation can be validly communicated by the Company by e-mail, including convocations for Shareholders’ Meetings and documentation pertaining to the exercise of Warrants. 

 

	11.7	Address Change 

 Warrant Holders are obliged to keep the Company informed of changes to
their address and changes to their e-mail address. Communications sent by the Company to the last known address or e-mail address of the Warrant Holder are validly made. 

*** 

  

			
	 	 
	Galapagos NV | Warrant Plan 2015		Page 11 of 11EX-10.4

 Exhibit 10.4 

EXECUTION VERSION 

***Text Omitted and Filed Separately with the Securities and Exchange Commission 

Confidential Treatment Requested Under 17 C.F.R. Sections 200.80(b)(4) and 230.406 

COLLABORATION AGREEMENT 

between 
 GALAPAGOS NV

 and 
 ABBOTT
HOSPITALS LIMITED 
 Dated as of February 28, 2012 

*** Confidential Treatment Requested *** 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1
	 	DEFINITIONS	  	 	1	  
			
	 ARTICLE 2
	 	COLLABORATION MANAGEMENT	  	 	18	  
			
	 2.1
	 	Joint Steering Committee	  	 	18	  
	 2.2
	 	Joint Development Committee	  	 	18	  
	 2.3
	 	Joint Commercialization Committee	  	 	19	  
	 2.4
	 	General Provisions Applicable to Joint Committees	  	 	20	  
	 2.5
	 	Discontinuation of Participation on a Committee	  	 	21	  
	 2.6
	 	Interactions Between a Committee and Internal Teams	  	 	21	  
	 2.7
	 	Working Groups	  	 	22	  
	 2.8
	 	Expenses	  	 	22	  
			
	 ARTICLE 3
	 	DEVELOPMENT AND REGULATORY	  	 	22	  
			
	 3.1
	 	Initial Development Plan and Budget and Initial Development Activities	  	 	22	  
	 3.2
	 	Development Activities for Initial Indication After In-Licensing	  	 	23	  
	 3.3
	 	Development Other than the Initial Development Activities	  	 	24	  
	 3.4
	 	Diligence	  	 	24	  
	 3.5
	 	Pre-Clinical and Clinical Supply of Licensed Products; Subcontracting	  	 	24	  
	 3.6
	 	Development Costs Relating to Initial Development Activities	  	 	26	  
	 3.7
	 	Regulatory Matters	  	 	26	  
	 3.8
	 	Compliance	  	 	28	  
	 3.9
	 	Records	  	 	28	  
			
	 ARTICLE 4
	 	COMMERCIALIZATION	  	 	29	  
			
	 4.1
	 	In General	  	 	29	  
	 4.2
	 	Co-Promotion Commercialization Plan	  	 	29	  
	 4.3
	 	Diligence	  	 	29	  
	 4.4
	 	Statements and Compliance with Applicable Law	  	 	30	  
	 4.5
	 	Booking of Sales; Distribution	  	 	30	  
	 4.6
	 	Product Trademarks	  	 	30	  
	 4.7
	 	Markings	  	 	30	  
	 4.8
	 	Commercial Supply of Licensed Products	  	 	30	  
	 4.9
	 	Co-Promotion Option	  	 	32	  
			
	 ARTICLE 5
	 	GRANT OF RIGHTS	  	 	33	  
			
	 5.1
	 	Abbott Review Right	  	 	33	  
	 5.2
	 	Grants to Abbott	  	 	34	  
	 5.3
	 	Grants to Galapagos	  	 	34	  
	 5.4
	 	Sublicenses	  	 	35	  
	 5.5
	 	Distributorships	  	 	35	  
	 5.6
	 	Co-Promotion Rights	  	 	35	  
	 5.7
	 	Retention of Rights	  	 	35	  
	 5.8
	 	Confirmatory Patent License	  	 	35	  
	 5.9
	 	Third Party In-License Agreements	  	 	36	  
			
	 ARTICLE 6
	 	PAYMENTS AND RECORDS	  	 	36	  
			
	 6.1
	 	Upfront Payment	  	 	36	  

  
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	 6.2
		In-Licensing Payment		 	36	  
	 6.3
		Regulatory Milestones		 	37	  
	 6.4
		Sales-Based Milestones		 	37	  
	 6.5
		Additional Regulatory Milestones		 	38	  
	 6.6
		Royalties		 	38	  
	 6.7
		Royalty Payments and Reports		 	40	  
	 6.8
		[...***...]		 	40	  
	 6.9
		Profit or Loss in the Co-Promotion Territory		 	40	  
	 6.10
		Calculation and Payment of Profit or Loss Share		 	40	  
	 6.11
		Mode of Payment; Offsets		 	41	  
	 6.12
		Accounting Procedures		 	42	  
	 6.13
		Withholding Taxes		 	42	  
	 6.14
		No Other Compensation		 	42	  
	 6.15
		Interest on Late Payments		 	42	  
	 6.16
		Financial Records		 	42	  
	 6.17
		Audit		 	43	  
	 6.18
		Audit Dispute		 	43	  
	 6.19
		Confidentiality		 	43	  
	 6.20
		Diagnostic or Veterinary Products		 	43	  
			
	 ARTICLE 7
		INTELLECTUAL PROPERTY		 	44	  
			
	 7.1
		Ownership of Intellectual Property		 	44	  
	 7.2
		Maintenance and Prosecution of Patents		 	45	  
	 7.3
		Enforcement of Patents		 	48	  
	 7.4
		Infringement Claims by Third Parties		 	50	  
	 7.5
		Invalidity or Unenforceability Defenses or Actions		 	50	  
	 7.6
		Third Party Licenses		 	52	  
	 7.7
		Product Trademarks		 	52	  
	 7.8
		Inventor’s Remuneration		 	53	  
			
	 ARTICLE 8
		PHARMACOVIGILANCE AND SAFETY		 	53	  
			
	 8.1
		Pharmacovigilance		 	53	  
	 8.2
		Global Safety Database		 	53	  
			
	 ARTICLE 9
		CONFIDENTIALITY AND NON-DISCLOSURE		 	54	  
			
	 9.1
		Product Information		 	54	  
	 9.2
		Confidentiality Obligations		 	54	  
	 9.3
		Permitted Disclosures		 	55	  
	 9.4
		Use of Name		 	56	  
	 9.5
		Public Announcements		 	57	  
	 9.6
				 	57	  
	 9.7
		Publications		 	57	  
	 9.8
		Return of Confidential Information		 	58	  
	 9.9
		Survival		 	59	  
			
	 ARTICLE 10
		REPRESENTATIONS AND WARRANTIES		 	59	  
			
	 10.1
		Mutual Representations and Warranties		 	59	  
	 10.2
		Additional Representations and Warranties of Galapagos		 	59	  
	 10.3
		DISCLAIMER OF WARRANTIES		 	64	  

  
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	 ARTICLE 11
		INDEMNITY		 	65	  
			
	 11.1
		Indemnification of Galapagos		 	65	  
	 11.2
		Indemnification of Abbott		 	65	  
	 11.3
		Certain Losses		 	66	  
	 11.4
		Notice of Claim		 	66	  
	 11.5
		Control of Defense		 	67	  
	 11.6
		Special, Indirect, and Other Losses		 	68	  
	 11.7
		Insurance		 	69	  
			
	 ARTICLE 12
		TERM AND TERMINATION		 	69	  
			
	 12.1
		Term		 	69	  
	 12.2
		Termination for Material Breach		 	70	  
	 12.3
		Additional Termination Rights by Abbott		 	70	  
	 12.4
		Termination for Bankruptcy, Insolvency or Similar Event		 	71	  
	 12.5
		Rights in Bankruptcy		 	71	  
	 12.6
		Termination in Entirety		 	72	  
	 12.7
		Termination of Terminated Territory		 	73	  
	 12.8
		Transition Agreement		 	74	  
	 12.9
		 Existing Inventory
		 	75	  
	 12.10
		Remedies		 	76	  
	 12.11
		Accrued Rights; Surviving Obligations		 	76	  
			
	 ARTICLE 13
		MISCELLANEOUS		 	76	  
			
	 13.1
		Force Majeure		 	76	  
	 13.2
		Change in Control of Galapagos		 	77	  
	 13.3
		Potential Competition Review		 	77	  
	 13.4
		Export Control		 	78	  
	 13.5
		Assignment		 	78	  
	 13.6
		Severability		 	79	  
	 13.7
		Governing Law, Jurisdiction and Service		 	79	  
	 13.8
		Dispute Resolution		 	79	  
	 13.9
		Notices		 	80	  
	 13.10
		Entire Agreement; Amendments		 	81	  
	 13.11
		English Language		 	81	  
	 13.12
		Waiver and Non-Exclusion of Remedies		 	81	  
	 13.13
		No Benefit to Third Parties		 	82	  
	 13.14
		Further Assurance		 	82	  
	 13.15
		Relationship of the Parties		 	82	  
	 13.17
		Counterparts; Facsimile Execution		 	82	  
	 13.18
		References		 	82	  
	 13.19
		Schedules		 	82	  
	 13.20
		Construction		 	82	  
		
	 SCHEDULES
				
			
	 Schedule 1.80
		Galapagos Corporate Names				
	 Schedule 1.97
		Initial Development Plan and Budget				

  
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	 Schedule 1.118
		Manufacturing Cost		
	 Schedule 1.142
		Phase 2B RA Success Criteria		
	 Schedule 6.10.1
		Sample Net Profits/Net Losses Calculation		
	 Schedule 9.5
		Form of Press Release		
	 Schedule 10.2.1
		Existing Patents		
	 Schedule 13.8.2
		ADR Procedures		

  
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 COLLABORATION AGREEMENT 

This Collaboration Agreement (the “Agreement”) is made and entered into effect as of February 28, 2012 (the
“Effective Date”) by and between Galapagos NV, a corporation organized under the laws of Belgium and having a principal place of business at Generaal de Wittelaan L11A3, B2800 Mechelen, Belgium (“Galapagos”), and
Abbott Hospitals Limited, [...***...] (“Abbott”). Galapagos and Abbott are sometimes referred to herein individually as a “Party” and collectively as the “Parties.” 

RECITALS 

WHEREAS, Galapagos Controls (as defined herein) certain intellectual property rights with respect to the Licensed Compound (as defined
herein) and Licensed Products (as defined herein) in the Territory (as defined herein); and 
 WHEREAS, Galapagos wishes to grant a
license to Abbott, and Abbott wishes to take, a license under such intellectual property rights to develop and commercialize Licensed Products in the Territory, in each case in accordance with the terms and conditions set forth below. 

NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter set forth, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows: 

ARTICLE 1 
 DEFINITIONS

 Unless otherwise specifically provided herein, the following terms shall have the following meanings: 

1.1 “Abbott” has the meaning set forth in the preamble hereto. 

1.2 “Abbott Grantback Know-How” means, as used in connection with any grant back license provided in Article
12, that certain Abbott Know-How that is (i) Controlled by Abbott as of the effective date of the applicable termination of this Agreement (in its entirety or with respect to one or more countries) (ii) not generally known and
(iii) directed to the composition or formulation of, or the method of making or using, a Licensed Compound, but (iv) in each case solely with respect to any such Licensed Product that (a) is the subject of Development or
Commercialization in the Territory as of the date of such termination and (b) contains the Licensed Compound as the sole active ingredient, as such Licensed Product exists as of the effective date of such termination. 

1.3 “Abbott Grantback Patents” means, as used in connection with any grant back license provided in Article
12, those certain Abbott Patents that (i) are Controlled by Abbott as of the effective date of the applicable termination of this Agreement (in its entirety or with respect to one or more countries), (ii) include one or more claim(s) that
cover the composition or formulation of, or the method of making or using, a Licensed Compound. In addition, Abbott Grantback Patents include only Abbott Patents with claims that cover any Licensed Product

  
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containing the Licensed Compound that is the subject of Development or Commercialization in the Territory as of the date of the applicable termination of this Agreement and contains the Licensed
Compound as the sole active ingredient, as such Licensed Product exists as of the effective date of such termination. 
 1.4
“Abbott Indemnitees” has the meaning set forth in Section 11.2. 
 1.5 “Abbott
Know-How” means all Information that is (i) Controlled by Abbott or any of its Affiliates during the Term, (ii) developed or acquired by Abbott or any of its Affiliates after the Effective Date and during the Term as a
result of performance under this Agreement, (iii) not generally known, and (iv) reasonably necessary or useful for the Development, Manufacture, or Commercialization of the Licensed Compound or a Licensed Product, but (v) excluding
any Information comprising Joint Know-How or inventions covered by the claims of published Abbott Patents or Joint Patents. 
 1.6
“Abbott No-Exercise Right” has the meaning set forth in Section 12.3.1. 
 1.7 “Abbott
Patents” means all of the Patents that (i) are Controlled by Abbott or any of its Affiliates during the Term, (ii) include claims that cover inventions made or conceived by Persons having an obligation to assign such to
Abbott (or any of its Affiliates) after the Effective Date and during the Term as a result of performance under this Agreement, (iii) are reasonably necessary or useful (or, with respect to patent applications, would be reasonably necessary or
useful if such patent applications were to issue as patents) for the Development, Manufacture, or Commercialization of the Licensed Compound or a Licensed Product, but (iv) excluding any Joint Patents. 

1.8 “Abbott Prosecuted Infringements” has the meaning set forth in Section 7.3.1. 

1.9 “Accounting Standards” with respect to a Party means that such Party shall maintain records and books of
accounts in accordance with (a) United States Generally Accepted Accounting Principles or (b) to the extent applicable, International Financial Reporting Standards as issued by the International Accounting Standards Board. 

1.10 “Additional Indication” means, with respect to the Licensed Compounds and Licensed Products, each
indication other than the Initial Indication. 
 1.11 “Additional Major Indication” means psoriasis,
psoriatic arthritis, ulcerative colitis, ankylosing spondylitis, or Crohn’s disease. 
 1.12 “ADR” has
the meaning set forth in Section 13.8.1. 
 1.13 “Adverse Ruling” has the meaning set forth in
Section 12.2.1. 
 1.14 “Affiliate” means, with respect to a Party, any Person that, directly or
indirectly, through one or more intermediaries, controls, is controlled by or is under common control with such Party. For purposes of this definition, “control” and, with correlative meanings, the terms “controlled by” and
“under common control with” means (i) the possession, directly or indirectly, of the power to direct the management or policies of a Person, whether through the ownership of voting securities, by contract relating to voting rights or
corporate governance, or otherwise; or (ii) the ownership, directly or indirectly, of more than fifty percent (50%) of the voting securities or other ownership interest of a Person (or, with respect to a limited partnership or other
similar entity, its general partner or controlling entity). The Parties 

  
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acknowledge that in the case of certain entities organized under the laws of certain countries outside of the United States, the maximum percentage ownership permitted by law for a foreign
investor may be less than fifty percent (50%), and that in such case such lower percentage shall be substituted in the preceding sentence, provided that such foreign investor has the power to direct the management or policies of such entity. 

1.15 “Agreement” has the meaning set forth in the preamble hereto. 

1.16 “Alliance Manager” has the meaning set forth in Section 2.4.5. 

1.17 “Allowable Expenses” means [...***...]. 

1.18 “ANDA Act” has the meaning set forth in Section 7.3.3. 

1.19 “Annual Net Sales Milestone Threshold” has the meaning set forth in Section 6.4.1. 

1.20 “Annual Net Sales-Based Milestone Payment” has the meaning set forth in Section 6.4.1. 

1.21 “Annual Net Sales-Based Milestone Payment Date” has the meaning set forth in Section 6.4.1. 

1.22 “Annual Net Sales-Based Milestone Table” has the meaning set forth in Section 6.4.1. 

1.23 “API” means the bulk form of Licensed Compound active pharmaceutical ingredient. 

1.24 “Applicable Law” means federal, state, local, national and supra-national laws, statutes, rules, and
regulations, including any rules, regulations, guidelines, or other requirements of the Regulatory Authorities, major national securities exchanges or major securities listing organizations, that may be in effect from time to time during the Term
and applicable to a particular activity and/or country or other jurisdiction hereunder. 
 1.25 “Audit Arbitrator”
has the meaning set forth in Section 6.18. 
 1.26 “Bayh-Dole Act” means the Patent and Trademark Law
Amendments Act of 1980, as amended, codified at 35 U.S.C. §§ 200-212, as amended, as well as any regulations promulgated pursuant thereto, including in 37 C.F.R. Part 401. 

1.27 “Board of Directors” has the meaning set forth in the definition of “Change in Control.” 

1.28 “Breaching Party” has the meaning set forth in Section 12.2.1. 

1.29 “Business Day” means a day other than a Saturday or Sunday on which banking institutions in New York, New York
are open for business. 
 1.30 “Calendar Quarter” means each successive period of three (3) calendar months
commencing on January 1, April 1, July 1 and October 1, except that the first Calendar Quarter of the Term shall commence on the Effective Date and end on the day immediately prior to the first to occur of
January 1, April 1, July 1 or October 1 after the Effective Date, and the last Calendar Quarter shall end on the last day of the Term. 

  
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 1.31 “Calendar Year” means each successive period of twelve
(12) calendar months commencing on January 1 and ending on December 31, except that the first Calendar Year of the Term shall commence on the Effective Date and end on December 31 of the year in which the Effective Date occurs
and the last Calendar Year of the Term shall commence on January 1 of the year in which the Term ends and end on the last day of the Term. 

1.32 “Centralized Approval Procedure” means the procedure through which an MAA filed with the EMA results in a single
marketing authorization valid throughout the European Union. 
 1.33 “Change in Control,” with respect to a Party,
shall be deemed to have occurred if any of the following occurs after the Effective Date: 
 1.33.1 any
“person” or “group” (as such terms are defined below) (i) is or becomes the “beneficial owner” (as defined below), directly or indirectly, of shares of capital stock or other interests (including partnership
interests) of such Party then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of the directors, managers or similar supervisory positions (“Voting Stock”) of such Party
representing fifty percent (50%) or more of the total voting power of all outstanding classes of Voting Stock of such Party or (ii) has the power, directly or indirectly, to elect a majority of the members of the Party’s board of
directors, or similar governing body (“Board of Directors”); or 
 1.33.2 such Party enters into a
merger, consolidation or similar transaction with another Person (whether or not such Party is the surviving entity) and as a result of such merger, consolidation or similar transaction (i) the members of the Board of Directors of such Party
immediately prior to such transaction constitute less than a majority of the members of the Board of Directors of such Party or such surviving Person immediately following such transaction or (ii) the Persons that beneficially owned, directly
or indirectly, the shares of Voting Stock of such Party immediately prior to such transaction cease to beneficially own, directly or indirectly, shares of Voting Stock of such Party representing at least a majority of the total voting power of all
outstanding classes of Voting Stock of the surviving Person in substantially the same proportions as their ownership of Voting Stock of such Party immediately prior to such transaction; or 

1.33.3 such Party sells or transfers to any Third Party, in one or more related transactions, properties or assets
representing all or substantially all of such Party’s total assets to which this Agreement relates; or 
 1.33.4
the holders of capital stock of such Party approve a plan or proposal for the liquidation or dissolution of such Party. 

1.33.5 For the purpose of this definition of Change in Control, (i) “person” and “group” have
the meanings given such terms under Section 13(d) and 14(d) of the United States Securities Exchange Act of 1934 and the term “group” includes any group acting for the purpose of acquiring, holding or disposing of securities within
the meaning of Rule 13d-5(b)(1) under the said Act; (ii) a “beneficial owner” shall be determined in accordance with Rule 13d-3 under the aforesaid Act; and (iii) the terms “beneficially owned” and “beneficially
own” shall have meanings correlative to that of “beneficial owner.” 

  
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 1.34 “Clinical Data” means all Information with respect to any Licensed
Compound or Licensed Product and made, collected, or otherwise generated under or in connection with Clinical Studies or Phase 4 Studies, including any data (including, but not limited to, raw data), reports, and results with respect thereto. 

1.35 “Clinical Studies” means Phase 0, Phase 1, Phase 2, Phase 3, and such other tests and studies in human subjects
that are required by Applicable Law, or otherwise recommended by the Regulatory Authorities, to obtain or maintain Regulatory Approvals for a Licensed Product for one (1) or more indications, including tests or studies that are intended to
expand the Product Labeling for such Licensed Product with respect to such indication. 
 1.36 “Combination
Product” means a Licensed Product that is comprised of or contains a Licensed Compound as an active ingredient together with one or more other active ingredients and is sold either as a fixed dose or as separate doses as one
(1) product. 
 1.37 “Commercialization” means any and all activities directed to the preparation for sale,
offering for sale, or sale of a Licensed Compound or a Licensed Product, including activities related to marketing, promoting, distributing, importing and exporting such Licensed Compound or Licensed Product, and, for purposes of setting forth the
rights and obligations of the Parties under this Agreement, shall be deemed to include conducting Medical Affairs Activities and conducting Phase 4 Studies, and interacting with Regulatory Authorities regarding any of the foregoing. When used as a
verb, “to Commercialize” and “Commercializing” means to engage in Commercialization, and “Commercialized” has a corresponding meaning. 

1.38 “Commercially Reasonable Efforts” means, with respect to the performance of Development, Commercialization, or
Manufacturing activities with respect to the Licensed Compound or a Licensed Product by a Party, the level of effort required to carry out an obligation in a sustained, active and diligent manner consistent with such level of effort
[...***...]. “Commercially Reasonable Efforts” shall be determined on a country-by-country (or region-by-region, where applicable) and indication-by-indication basis, except that the Party may consider the impact of its efforts and
resources expended with respect to any country (or region) on any other country (or region). 
 1.39 “Complete Data
Package” has the meaning set forth in Section 3.1.4. 
 1.40 “Compound Failure” means, with respect
to a Licensed Compound, that, due to Clinical Study results or actions taken by any Regulatory Authority after the Effective Date, it is unlikely that Abbott will be able to, on a commercially reasonable basis, obtain Regulatory Approval of a
Licensed Product or, once granted, it is unlikely that Abbott will be able to maintain each Regulatory Approval. 
 1.41
“Conduct” means, with respect to any Clinical Study, to (i) sponsor, support or perform, directly or indirectly through a Third Party, such Clinical Study; or (ii) provide to a Third Party funding for, or clinical supplies
(including placebos) for use in, such Clinical Study. 
 1.42 “Confidential Information” means any Information provided
orally, visually, in writing or other form by or on behalf of one Party (or an Affiliate of such Party) to the other Party (or to an Affiliate of such Party) in connection with this Agreement, whether prior to, on, or after the Effective Date,
including information relating to the terms of this Agreement, the Licensed Compound or any Licensed Product (including the Regulatory Documentation and Regulatory Data), any Exploitation of the Licensed Compound or any Licensed Product, any

  
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know-how with respect thereto developed by or on behalf of the disclosing Party or its Affiliates (including Abbott Know-How and Galapagos Know-How, as applicable), or the scientific, regulatory
or business affairs or other activities of either Party. Notwithstanding the foregoing, (i) Joint Know-How shall be deemed to be the Confidential Information of both Parties, and both Parties shall be deemed to be the receiving Party and the
disclosing Party with respect thereto; and (ii) after Abbott proceeds with the In-Licensing, all Regulatory Documentation owned by Abbott pursuant to Section 3.7.1 shall be deemed to be the Confidential Information of Abbott, and Abbott
shall be deemed to be the disclosing Party and Galapagos shall be deemed to be the receiving Party with respect thereto. 
 1.43
“Control” means, with respect to any item of Information, Regulatory Documentation, material, Patent, or other property right existing on or after the Effective Date and during the Term, the possession of the right, whether directly
or indirectly, and whether by ownership, license, covenant not to sue, or otherwise (other than by operation of the license and other grants in Section 5.2), to grant a license, sublicense or other right (including the right to reference
Regulatory Documentation) to or under such Information, Regulatory Documentation, material, Patent, or other property right as provided for herein without violating the terms of any agreement or other arrangement with any Third Party; provided,
however, that except in the case of Third Party In-License Agreements, neither Party shall be deemed to Control any item of Information, Regulatory Documentation, material, Patent, or other property right of a Third Party if access requires or
triggers a payment obligation. 
 1.44 “Co-Promotion Agreement” has the meaning set forth in Section 4.9.3.

 1.45 “Co-Promotion Commercialization Plan” has the meaning set forth in Section 4.2.1. 

1.46 “Co-Promotion Option” has the meaning set forth in Section 4.9.1. 

1.47 “Co-Promotion Period” means that period commencing on the effective date of the Co-Promotion Agreement and
ending on the first date on which Galapagos’ co-promotion rights with respect to the Co-Promotion Products terminate pursuant to this Agreement or the Co-Promotion Agreement. 

1.48 “Co-Promotion Product” has the meaning set forth in Section 4.9.1. 

1.49 “Co-Promotion Territory” means the Benelux countries (i.e., the Netherlands, Belgium and Luxembourg). 

1.50 “CREATE Act” has the meaning set forth in Section 7.2.5. 

1.51 “Default Notice” has the meaning set forth in Section 12.2.1. 

1.52 “Delivery System” has the meaning set forth in the definition of “Net Sales”. 

1.53 “Detail” means, with respect to a Co-Promotion Product in the Co-Promotion Territory, a face-to-face contact
between a sales representative and a physician or other medical professional licensed to prescribe drugs, during which a primary position detail (as defined in the Co-Promotion Agreement) or a secondary position detail (as defined in the
Co-Promotion Agreement) is made to such person, in each case as measured by each Party’s internal recording of such activity in accordance with the Co-Promotion Agreement; provided that such meeting is consistent with and in accordance
with the requirements of Applicable Law and this Agreement. When used as a verb, “Detail” means to engage in a Detail. 

  
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 1.54 “Development” means all activities related to research,
pre-clinical and other non-clinical testing, test method development and stability testing, toxicology, formulation, process development, manufacturing scale-up, qualification and validation, quality assurance/quality control, Clinical Studies,
including Manufacturing in support thereof, statistical analysis and report writing, the preparation and submission of Drug Approval Applications, regulatory affairs with respect to the foregoing and all other activities necessary or reasonably
useful or otherwise requested or required by a Regulatory Authority as a condition or in support of obtaining or maintaining a Regulatory Approval. When used as a verb, “Develop” means to engage in Development.
Development shall exclude Phase 4 Studies. For the avoidance of doubt, Development shall include any submissions, and activities required in support thereof, required by Applicable Laws or a Regulatory Authority as a condition or in support of
obtaining a pricing or reimbursement approval for an approved Licensed Product. 
 1.55 “Development Activities
Agreement” has the meaning set forth in Section 3.5.3. 
 1.56 “Development Plan and
Budget” means a development plan (other than the Initial Development Plan and Budget) setting forth in reasonable detail specific Clinical Studies and other Development activities (other than the Initial Development Activities) to be
performed with respect to the Licensed Compound or a Licensed Product and the budget for such Development activities, which plan shall set forth Clinical Studies and Development activities subsequent to those of the Initial Development Plan. 

1.57 “Dispute” has the meaning set forth in Section 13.8. 

1.58 “Distribution Costs” means [...***...]. 

1.59 “Distributor” has the meaning set forth in Section 5.5. 

1.60 “Dollars” or “$” means United States Dollars. 

1.61 “Drug Approval Application” means a New Drug Application (an “NDA”) as
defined in the FFDCA, or any corresponding foreign application in the Territory, including, with respect to the European Union, a Marketing Authorization Application (a “MAA”) filed with the EMA pursuant to the
Centralized Approval Procedure or with the applicable Regulatory Authority of a country in Europe with respect to the mutual recognition or any other national approval procedure. 

1.62 “Drug Approval Filing” means the submission to a Regulatory Authority of a Drug Approval Application.

 1.63 “Effective Date” means the effective date of this Agreement as set forth in the preamble hereto.

 1.64 “EMA” means the European Medicines Agency and any successor agency or authority having substantially
the same function. 
 1.65 “EURIBOR” means Euro Interbank Offered Rate, unweighted average rate, calculation
according to the act/360 method having a maturity of one month published by Bloomberg at 11 a.m. CET on the first Frankfurt business day of every month. 

  
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 1.66 “European Union” or “EU”
means the economic, scientific, and political organization of member states known as the European Union, as its membership may be altered from time to time, and any successor thereto. 

1.67 “Exchange Rate” has the meaning set forth in Section 6.11. 

1.68 “Existing Patents” has the meaning set forth in Section 10.2.1. 

1.69 “Existing Regulatory Documentation” means the Regulatory Documentation Controlled by Galapagos or any of
its Affiliates as of the date Abbott proceeds with the In-Licensing. 
 1.70 “Exploit” or
“Exploitation” means to make, have made, import, export, use, have used, sell, have sold, or offer for sale, including to Develop, Commercialize, register, modify, enhance, improve, Manufacture, have Manufactured,
hold, or keep (whether for disposal or otherwise), or otherwise dispose of. 
 1.71 “FDA” means the United
States Food and Drug Administration and any successor agency(ies) or authority having substantially the same function. 
 1.72
“FFDCA” means the United States Federal Food, Drug, and Cosmetic Act, 21 U.S.C. § 301 et seq., as amended from time to time, together with any rules, regulations and requirements promulgated thereunder
(including all additions, supplements, extensions, and modifications thereto). 
 1.73 “Field” means
treatment, diagnosis, prediction, detection and/or prevention of any disease, disorder, state, condition and/or malady in humans and animals. 

1.74 “First Commercial Sale” means, with respect to a Licensed Product and a country, the first sale for
monetary value for use or consumption by the end user of such Licensed Product in such country after Regulatory Approval for such Licensed Product has been obtained in such country. Sales prior to receipt of Regulatory Approval for such Licensed
Product, such as so-called “treatment IND sales,” “named patient sales,” and “compassionate use sales,” shall not be construed as a First Commercial Sale. 

1.75 “Follow-On Compound” means the compound known as [...***...] or any Galapagos JAK1 inhibitor that
Galapagos Controls, and any metabolite, salt, ester, hydrate, solvate, isomer, enantiomer, free acid form, free base form, crystalline form, co-crystalline form, amorphous form, pro-drug (including ester pro-drug) form, racemate, polymorph, chelate,
stereoisomer, tautomer, or optically active form of any of the foregoing. 
 1.76 “FTE” means the equivalent
of the work of one (1) employee full time for one (1) Calendar Year (consisting of at least a total of [...***...] per Calendar Year) of work directly related to the Development, Commercialization or Manufacturing of a Licensed
Compound or Licensed Product. Any person who devotes less than [...***...] per Calendar Year (or such other number as may be agreed by the JDC or JCC, as applicable) shall be treated as an FTE on a pro rata basis based upon the actual number
of hours worked divided by [...***...]. 
 1.77 “FTE Costs” means, with respect to a Party for any
period, the applicable FTE Rate multiplied by the applicable number of FTEs of such Party performing Development, Commercialization or Manufacturing activities during such period in accordance with the applicable Development Plan and Budget or
Co-Promotion Commercialization Plan, as applicable. 

  
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 1.78 “FTE Rate” means the annual rate of [...***...]
Dollars ($[...***...]) per FTE. The FTE Rates applicable to activities undertaken by either Party are subject to adjustments effective on January 1 of each Calendar Year, based on the applicable employment cost index published by the
United States Department of Labor, Bureau of Labor Statistics for the third quarter of the preceding Calendar Year. 
 1.79
“Galapagos” has the meaning set forth in the preamble hereto. 
 1.80 “Galapagos Corporate
Names” means the Trademarks and logos identified on Schedule 1.80 and such other names and logos as Galapagos may designate in writing from time to time. 

1.81 “Galapagos Indemnitees” had the meaning set forth in Section 11.1. 

1.82 “Galapagos Know-How” means all Information that is (i) Controlled by Galapagos or any of its
Affiliates as of the Effective Date or at any time during the Term, (ii) not generally known, and (iii) reasonably necessary or useful for the Development, Manufacture, or Commercialization of the Licensed Compound or a Licensed Product,
but (iv) excluding any Information comprising Joint Know-How or inventions covered by the claims of published Galapagos Patents or Joint Patents. 

1.83 “Galapagos Patents” means all of the Patents that are (i) Controlled by Galapagos or any of its
Affiliates as of the Effective Date or at any time during the Term, and (ii) reasonably necessary or useful (or, with respect to Patent applications, would be reasonably necessary or useful if such Patent applications were to issue as Patents)
for the Development, Manufacture, or Commercialization of the Licensed Compound or a Licensed Product, but (iii) excluding any Joint Patents. The Galapagos Patents include the Existing Patents. 

1.84 “Generic Product” means, with respect to a Licensed Product, any product that (i) is sold by a Third
Party that is not a licensee or Sublicensee of Abbott or its Affiliates, or any of their licensees or Sublicensees, under a Drug Approval Application granted by a Regulatory Authority to a Third Party; (ii) contains the Licensed Compound as an
active ingredient; and (iii) is approved in reliance, in whole or in part, on the prior approval (or on safety or efficacy data submitted in support of the prior approval) of such Licensed Product as determined by the applicable Regulatory
Authority, including any product authorized for sale (A) in the U.S. pursuant to Section 505(b)(2) or Section 505(j) of the Act (21 U.S.C. 355(b)(2) and 21 U.S.C. 355(j), respectively), (B) in the EU pursuant to a provision of
Articles 10, 10a or 10b of Parliament and Council Directive 2001/83/EC as amended (including an application under Article 6.1 of Parliament and Council Regulation (EC) No 726/2004 that relies for its content on any such provision), or (C) in
any other country or jurisdiction pursuant to all equivalents of such provisions, including any amendments and successor statutes with respect to the subsections (A) through (C) thereto. A Licensed Product licensed or produced by Abbott
(i.e., an authorized generic product) will not constitute a Generic Product. 
 1.85 “Generic Competition”
has the meaning set forth in Section 6.6.4. 
 1.86 “Good Manufacturing Practice” or
“GMP” means the current good manufacturing practices applicable from time to time to the manufacturing of a Licensed Compound or Licensed Product or any intermediate thereof pursuant to Applicable Law. 

1.87 “Grantback Option” has the meaning set forth in Section 12.6.1(iii). 

  
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 1.88 “Grantback Option to the Terminated Territory” has the meaning set
forth in Section 12.7. 
 1.89 [...***...]. 

1.90 “HSR Act” has the meaning set forth in 13.3. 

1.91 “IMS” has the meaning set forth in Section 6.6.4(i). 

1.92 “IND” means an application filed with a Regulatory Authority for authorization to commence human Clinical
Studies, including (a) an Investigational New Drug Application as defined in the FFDCA or any successor application or procedure filed with the FDA, (b) any equivalent of a United States IND in other countries or regulatory jurisdictions,
and (c) all supplements, amendments, variations, extensions and renewals thereof that may be filed with respect to the foregoing. 

1.93 “Indemnification Claim Notice” has the meaning set forth in Section 11.4. 

1.94 “Indemnified Party” has the meaning set forth in Section 11.4. 

1.95 “Information” means knowledge of a technical, scientific, business, and other nature, including know-how,
technology, means, methods, processes, practices, formulae, instructions, skills, techniques, procedures, experiences, ideas, technical assistance, designs, drawings, assembly procedures, computer programs, apparatuses, specifications, data, results
and other material, Regulatory Data, and other biological, chemical, pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, manufacturing and quality control data and information, including study
designs and protocols; assays, and biological methodology; in each case (whether or not confidential, proprietary, patented or patentable, of commercial advantage or not) in written, electronic or any other form now known or hereafter developed.

 1.96 “Initial Development Activities” means the Development activities (as further set forth in the Initial
Development Plan and Budget) to be performed by Galapagos in order to achieve the Phase 2B RA Success Criteria. 
 1.97
“Initial Development Plan and Budget” means the Development Plan and Budget covering the Initial Development Activities attached as Schedule 1.97, as the same may be amended from time to time in accordance with the terms
hereof. 
 1.98 “Initial Indication” means rheumatoid arthritis (“RA”). 

1.99 “In-Licensing” has the meaning set forth in Section 5.1. 

1.100 “Intellectual Property” has the meaning set forth in Section 12.5. 

1.101 “JAK1” means any compound that inhibits enzymes in the Janus kinase (“JAK”) family [...***...].

 1.102 “Joint Commercialization Committee” or “JCC” has the meaning set forth in
Section 2.3.1. 
 1.103 “Joint Committees” means collectively the JSC, JDC and JCC. 

1.104 “Joint Development Committee” or “JDC” has the meaning set forth in Section 2.2.1. 

  
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 1.105 “Joint Intellectual Property Rights” has the meaning set forth in
Section 7.1.2. 
 1.106 “Joint Know-How” has the meaning set forth in Section 7.1.2. 

1.107 “Joint Patents” has the meaning set forth in Section 7.1.2. 

1.108 “Joint Steering Committee” or “JSC” has the meaning set forth in Section 2.1.1. 

1.109 “Knowledge” means the [...***...] of the chief executive officer, the president, the executive
vice-president, any vice president, including the vice president for research, the vice president for product development, the vice president for clinical development, and the vice president for intellectual property, the head of regulatory affairs,
the senior patent counsel, the general counsel, or the chief medical officer of a Party, or any personnel holding positions equivalent to such job titles (but only to the extent such positions exist at such Party). 

1.110 “Lead Compound” means the compound known as GLPG0634 and any metabolite, salt, ester, hydrate, solvate, isomer,
enantiomer, free acid form, free base form, crystalline form, co-crystalline form, amorphous form, pro-drug (including ester pro-drug) form, racemate, polymorph, chelate, stereoisomer, tautomer, or optically active form of the foregoing. If a
Compound Failure occurs with respect to the Lead Compound, the Lead Compound shall be replaced by a Follow-On Compound, such Follow-On Compound to be determined by Abbott if more than one Follow-On Compound is in Development, and such Follow-On
Compound shall be deemed to be the Lead Compound effective from the point in which the Compound Failure determination has been made by the JDC. 

1.111 “Licensed Compound(s)” means the Lead Compound and any Follow-On Compounds. 

1.112 “Licensed Product” means any product, or portion thereof, containing a specific Licensed Compound. Licensed
Product includes all products (and portions thereof) containing the same Licensed Compound, alone or in combination with one or more other active ingredients, in any and all finished forms, presentations, delivery systems, strength, dosages, and
formulations. Licensed Product does not include bulk sales of Licensed Compound to sublicensees for formulation into finished form. 

1.113 “Losses” has the meaning set forth in Section 11.1. 

1.114 “MAA” has the meaning set forth in the definition of Drug Approval Application. 

1.115 “Major Market” means each of Germany, United Kingdom, France, Spain and Italy. 

1.116 “Major Regulatory Filing” has the meaning set forth in Section 3.7.1(iii). 

1.117 “Manufacture” and “Manufacturing” means all activities related to the synthesis, making,
production, processing, purifying, formulating, filling, finishing, packaging, labeling, shipping, and holding of the Licensed Compound, any Licensed Product, or any intermediate thereof, including process development, process qualification and
validation, scale-up, pre-clinical, clinical and commercial production and analytic development, product characterization, stability testing, quality assurance, and quality control. 

  
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 1.118 “Manufacturing Cost” with respect to the Licensed Compound or a
Licensed Product has the meaning set forth on Schedule 1.118. 
 1.119 “Manufacturing Process” has the
meaning set forth in Section 4.8.2. 
 1.120 “Manufacturing Technology Transfer” has the meaning set forth in
Section 4.8.2. 
 1.121 “Markings” has the meaning set forth in Section 4.7. 

1.122 “Material Adverse Effect” means a material adverse effect on the Development or Commercialization of a Licensed
Compound or Licensed Product in the Territory. 
 1.123 “Material Amendment” means any amendment to the Initial
Development Plan and Budget that (i) would add, delete or change any material Initial Development Activity (including significant changes to timelines); or (ii) could reasonably be expected to have a Material Adverse Effect. 

1.124 “Medical Affairs Activities” means, with respect to any country or other jurisdiction in the Territory, the
coordination of medical information requests and field based medical scientific liaisons with respect to Licensed Compounds or Licensed Products, including activities of medical scientific liaisons and the provision of medical information services
with respect to a Licensed Compound or Licensed Product. 
 1.125 “Medical Affairs Costs” means those FTE Costs
(charged in accordance with Section 6.10.3) incurred and the direct out-of-pocket costs, including costs for independent contractors engaged as permitted under this
Agreement, incurred by a Party or any of its Affiliates in accordance with Accounting Standards after the Effective Date and during the Term of and pursuant to this Agreement, provided that such costs are specifically identifiable or reasonably
allocable to Medical Affairs Activities with respect to any Co-Promotion Product sold in the Co-Promotion Territory. 
 1.126
“Monthly Average Exchange Rate” has the meaning set forth in Section 6.11. 
 1.127 “NDA” has
the meaning set forth in the definition of Drug Approval Application. 
 1.128 “Net Profits” and, with correlative
meaning, “Net Losses”, means, [...***...]. 
 1.129 “Net Sales” means [...***...].

 1.130 “Neutral” has the meaning set forth in Schedule 13.8.2. 

1.131 “Non-Breaching Party” has the meaning set forth in Section 12.2.1. 

1.132 “Owned Genus Patents” has the meaning set forth in Section 10.2.3. 

1.133 “Owned Species Patents” has the meaning set forth in Section 10.2.3. 

1.134 “Owned Patents” has the meaning set forth in Section 10.2.3. 

1.135 “Party” and “Parties” has the meaning set forth in the preamble hereto. 

1.136 “Patent Costs” means those FTE Costs of in-house legal counsel and related
personnel (charged in accordance with Section 6.10.3) incurred and the direct out-of-pocket costs 

  
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(including the reasonable fees and expenses paid to outside counsel and other Third Parties, and filing and maintenance fees paid to governmental authorities) recorded as an expense by a Party or
any of its Affiliates in accordance with Accounting Standards after the Effective Date, during the Term of and pursuant to this Agreement, (i) in connection with the prosecution and maintenance of rights, including costs of patent interference,
opposition, reissue, or re-examination proceedings and filing and registration fees with respect to the Galapagos Patents, Abbott Patents, or Joint Patents, in each case to the extent that they claim the
composition of matter, article of manufacture, method of use or method of manufacture of a Co-Promotion Product in the Co-Promotion Territory, and (ii) the costs of litigation (enforcement or defense) or other proceedings, under the Galapagos
Patents, Abbott Patents and Joint Patents, in each case only to the extent related to a Co-Promotion Product in the Co-Promotion Territory and not reimbursed by a Third Party. 

1.137 “Patents” means (i) all national, regional and international patent applications, including provisional
patent applications, and all applications claiming priority therefrom, including divisionals, continuations, continuations-in-part, provisionals, converted provisionals and continued prosecution applications; (ii) any and all national
patents issued or granted from the foregoing patent applications, including utility patents, utility models, petty patents and design patents and certificates of invention; (iii) any and all extensions or restorations by existing or future
extension or restoration mechanisms, including revalidations, reissues, re-examinations and extensions (including any supplementary protection certificates and the like) of the foregoing patents or patent applications ((i) and (ii)); and
(iii) any similar rights, including so-called pipeline protection or any importation, revalidation, confirmation or introduction patent or registration patent or patent of additions to any of such foregoing patent applications and patents. 

1.138 “Person” means an individual, sole proprietorship, partnership, limited partnership, limited liability
partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other similar entity or organization, including a government or political subdivision, department or agency
of a government. 
 1.139 “Phase 0” means an exploratory, first-in-human trial conducted in accordance with the FDA
2006 Guidance on Exploratory Investigational New Drug Studies (or the equivalent in any country or other jurisdiction outside of the United States) and designed to expedite the development of therapeutic or imaging agents by establishing very early
on whether the agent behaves in human subjects as was anticipated from preclinical studies. 
 1.140 “Phase 1”
means a human clinical trial of a Licensed Compound or Licensed Product, the principal purpose of which is a preliminary determination of safety, tolerability, pharmacological activity or pharmacokinetics in healthy individuals or patients or
similar clinical study prescribed by the Regulatory Authorities, including the trials referred to in 21 C.F.R. §312.21(a), as amended. 

1.141 “Phase 2” means a human clinical trial of a Licensed Compound or Licensed Product, the principal purpose of
which is a determination of safety and efficacy in the target patient population, which is prospectively designed to generate sufficient data that may permit commencement of pivotal clinical trials, or a similar clinical study prescribed by the
Regulatory Authorities, from time to time, pursuant to Applicable Law or otherwise, including the trials referred to in 21 C.F.R. §312.21(b), as amended. 

  
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 1.142 “Phase 2B RA Success Criteria” has the meaning set forth in
Schedule 1.142. 
 1.143 “Phase 3” means a human clinical trial of a Licensed Compound or Licensed Product
on a sufficient number of subjects in an indicated patient population that is designed to establish that a product is safe and efficacious for its intended use and to determine the benefit/risk relationship, warnings, precautions, and adverse
reactions that are associated with such product in the dosage range to be prescribed, which trial is intended to support marketing approval of such Licensed Compound or Licensed Product, including all tests and studies that are required by the FDA
from time to time, pursuant to Applicable Law or otherwise, including the trials referred to in 21 C.F.R. §312.21(c), as amended. 

1.144 “Phase 4 Costs” means those FTE Costs (charged in accordance with Section 6.10.3) (i) incurred and
the direct out-of-pocket costs recorded as an expense in accordance with Accounting Standards by or on behalf of a Party or any of its Affiliates after the Effective
Date, during the Term of and pursuant to this Agreement, and (ii) specifically identifiable or reasonably allocable to Phase 4 Studies, wherever Conducted, of a Co-Promotion Product in support of Commercialization of such Co-Promotion Product
in the Co-Promotion Territory. Subject to the foregoing, Phase 4 Costs shall include (i) costs in connection with the preparation for, or Conduct of, Phase 4 Studies, data collection and analysis and report writing, and clinical laboratory
work, (ii) related Regulatory Expenses, and (iii) related Manufacturing Costs, provided that such Phase 4 Costs shall not be counted more than once as an Allowable Expense. 

1.145 “Phase 4 Study” means a post-marketing human clinical study for a Licensed Product with respect to any
indication as to which Regulatory Approval has been received or for a use that is the subject of an investigator-initiated study program. 

1.146 “PMDA” means Japan’s Pharmaceuticals and Medical Devices Agency and any successor agency(ies) or authority
having substantially the same function. 
 1.147 “Product Information” has the meaning set forth in
Section 9.1. 
 1.148 “Product Labeling” means, with respect to a Licensed Product in a country or other
jurisdiction in the Territory, (i) the Regulatory Authority-approved full prescribing information for such Licensed Product for such country or other jurisdiction, including any required patient
information, and (ii) all labels and other written, printed, or graphic matter upon a container, wrapper, or any package insert utilized with or for such Licensed Product in such country or other jurisdiction. 

1.149 “Product Trademarks” means the Trademark(s) to be used by Abbott or its Affiliates or its or their respective
Sublicensees for the Development or Commercialization of Licensed Products in the Territory and any registrations thereof or any pending applications relating thereto in the Territory (excluding, in any event, any trademarks, service marks, names or
logos that include any corporate name or logo of the Parties or their Affiliates). 
 1.150 “Proposed Future Third Party
In-Licensed Rights” has the meaning set forth in Section 5.9. 
 1.151 “Regulatory Approval” means,
with respect to a country or other jurisdiction in the Territory, any and all approvals (including Drug Approval Applications), licenses, registrations, or authorizations of any Regulatory Authority necessary to commercially distribute, sell, or
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including, where applicable, (i) pricing or reimbursement approval in such country or other jurisdiction, (ii) pre- and post-approval marketing authorizations (including any
prerequisite Manufacturing approval or authorization related thereto), and (iii) approval of Product Labeling. 
 1.152
“Regulatory Authority” means any applicable supra-national, federal, national, regional, state, provincial, or local governmental or regulatory authority, agency, department, bureau, commission, council, or other entities
(e.g., the FDA, EMA and PMDA) regulating or otherwise exercising authority with respect to activities contemplated in this Agreement, including the Exploitation of Licensed Compound or Licensed Products in the Territory. 

1.153 “Regulatory Data” has the meaning set forth in Section 3.7.2(i). 

1.154 “Regulatory Documentation” means all (i) applications (including all INDs and Drug Approval
Applications and other Major Regulatory Filings), registrations, licenses, authorizations, and approvals (including Regulatory Approvals); (ii) correspondence and reports submitted to or received from Regulatory Authorities (including minutes
and official contact reports relating to any communications with any Regulatory Authority) and all supporting documents with respect thereto, including all regulatory drug lists, advertising and promotion documents, adverse event files, and
complaint files; and (iii) Clinical Data and data contained or relied upon in any of the foregoing, in each case ((i), (ii), and (iii)) relating to a Licensed Compound or Licensed Product. 

1.155 “Regulatory Exclusivity” means, with respect to any country or other jurisdiction in the Territory, an
additional market protection, other than Patent protection, granted by a Regulatory Authority in such country or other jurisdiction which confers an exclusive Commercialization period during which Abbott or its Affiliates or Sublicensees have the
exclusive right to market and sell a Licensed Compound or Licensed Product in such country or other jurisdiction through a regulatory exclusivity right, such as new chemical entity exclusivity, new use or indication exclusivity, new formulation
exclusivity, orphan drug exclusivity, pediatric exclusivity, or any applicable data exclusivity. 
 1.156 “Regulatory
Expenses” means those FTE Costs (charged in accordance with Section 6.10.3) (i) incurred and the direct out-of-pocket costs (including filing,
user, maintenance and other fees paid to Regulatory Authorities) recorded as an expense in accordance with Accounting Standards by or on behalf of Abbott or any of its Affiliates after the Effective Date, during the Term of and pursuant to this
Agreement, and (ii) specifically identifiable or reasonably allocable to the preparation of regulatory submissions for, and the obtaining and maintenance of Regulatory Approval of, any Co-Promotion Product in the Co-Promotion Territory,
including compliance with Regulatory Approvals and requirements of such Regulatory Authorities, adverse event recordation and reporting and regulatory affairs activities, in each case in the Co-Promotion Territory, provided that such FTE Costs shall
not be counted more than once as an Allowable Expense. 
 1.157 “Review Notice” has the meaning set forth in
Section 5.1. 
 1.158 “Review Period” has the meaning set forth in Section 5.1. 

1.159 “Royalty Term” means, with respect to each Licensed Product and each country or other jurisdiction in
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the later to occur of: (i) the expiration, invalidation or abandonment date of the last Galapagos Patent or Joint Patent that includes a Valid Claim that covers the Manufacture, use or sale
of such Licensed Product that is sold in such country or other jurisdiction; or (ii) the [...***...] ([...***...]) anniversary of the First Commercial Sale of such Licensed Product in such country or other jurisdiction, or
(iii) expiration of Regulatory Exclusivity for such Licensed Product in such country. 
 1.160 “Royalty
Territory” means the Territory excluding the Co-Promotion Territory, if applicable. 
 1.161 “Sales and
Marketing Costs” means [...***...]. 
 1.162 “Senior Officer” means, with respect to
Galapagos, its Chief Executive Officer or his/her designee, and with respect to Abbott, its Executive Vice President, Pharmaceutical Products Group or his/her designee. 

1.163 “Sublicensee” means a Person, other than an Affiliate or a Distributor, that is granted a sublicense by
Abbott under the grants in Section 5.2 as provided in Section 5.4. 
 1.164 “Supply Agreement” has
the meaning set forth in Section 4.8.1. 
 1.165 “Term” has the meaning set forth in
Section 12.1.1. 
 1.166 “Terminated Territory” means each country with respect to which this Agreement
is terminated by Galapagos pursuant to Section 12.2.2, each country with respect to which this Agreement is terminated by Abbott pursuant to Sections 12.3.1 or 12.3.2, or, if this Agreement is terminated in its entirety, the entire Territory.

 1.167 “Territory” means the entire world. 

1.168 “Third Party” means any Person other than Galapagos, Abbott and their respective Affiliates. 

1.169 “Third Party Claims” has the meaning set forth in Section 11.1. 

1.170 “Third Party Infringement” has the meaning set forth in Section 7.3.1. 

1.171 “Third Party In-License Agreement” means [...***...] and any other agreement between Galapagos and
a Third Party under which Abbott is granted a sublicense or other right under this Agreement as provided in Section 5.9. 
 1.172
“Third Party In-Licensed Patents” has the meaning set forth in Section 10.2.3. 
 1.173
“Third Party Payments” means all upfront payments, milestone payments, royalties, and other amounts paid to a Third Party pursuant to Third Party In-License Agreements and/or pursuant to an agreement with a Third Party
that Abbott, its Affiliate(s) or Sublicensees enter into in order to obtain a license or right under a Patent or intellectual property right owned or controlled by such Third Party in order to Exploit a Licensed Product. 

1.174 “Third Party Provider” has the meaning set forth in Section 3.5.3. 

1.175 “Trademark” means any word, name, symbol, color, designation or device or any combination thereof that
functions as a source identifier, including any trademark, trade dress, brand mark, service mark, trade name, brand name, logo, business symbol or domain names whether or not registered. 

  
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 1.176 “Trademark Costs” means (A) those FTE Costs of in-house legal counsel and related personnel (charged in accordance with Section 6.10.3) (i) incurred and the direct
out-of-pocket costs (including the reasonable fees and expenses paid to outside counsel and other Third Parties, and filing and maintenance fees paid to governmental
authorities) recorded as an expense by a Party or any of its Affiliates in accordance with Accounting Standards after the Effective Date, during the Term of and pursuant to this Agreement, (ii) in connection with the prosecution and maintenance
of rights, including filing and registration fees with respect to the Trademark(s) for the Co-Promotion Product in the Co-Promotion Territory, and (B) the costs of litigation (enforcement or defense) or other proceedings, under the Trademark(s)
for the Co-Promotion Product in the Co-Promotion Territory, only to the extent not reimbursed by a Third Party. 
 1.177
“Transition Agreement” has the meaning set forth in Section 12.8.1. 
 1.178 “United
States” or “U.S.” means the United States of America and its territories and possessions (including the District of Columbia and Puerto Rico). 

1.179 “Valid Claim” means a claim of any issued Patent which has not expired, irretrievably lapsed, been
abandoned, revoked, dedicated to the public, or disclaimed; or adjudged invalid or unenforceable as a result of a holding, finding, or decision of invalidity, unenforceability, or non-patentability by a court, governmental agency, national or
regional patent office, or other appropriate body that has competent jurisdiction, such holding, finding, or decision being final and unappealable or unappealed within the time allowed for appeal. 

1.180 “Voting Stock” has the meaning set forth in the definition of “Change in Control.” 

1.181 ‘Working Group” has the meaning set forth in Section 2.7. 

  
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 ARTICLE 2 COLLABORATION MANAGEMENT 

2.1 Joint Steering Committee. 

2.1.1 Formation. As soon as practical after the Effective Date, but no later than thirty (30) days, the Parties
shall establish a joint steering committee (the “Joint Steering Committee” or “JSC”), which shall (i) oversee the Development, Commercialization, and other Exploitation of the Licensed Compound or Licensed
Product in the Territory, including reviewing Follow-On Compounds and managing and overseeing the Development of any Follow-On Compounds that the JSC determines should be Developed in lieu of any existing compounds or simultaneously Developed along
with any Lead Compound, (ii) resolve Disputes that may arise in the JDC or the JCC, (iii) coordinate the Parties’ activities under this Agreement, including oversight of the JDC and the JCC, and (iv) perform such other functions
as are set forth herein or as the Parties may mutually agree in writing, except where in conflict with any provision of this Agreement. The JSC shall consist of three (3) representatives from each of the Parties, each with the requisite
experience and seniority to enable such person to make decisions on behalf of the Parties with respect to the issues falling within the jurisdiction of the JSC. From time to time, each Party may substitute one or more of its representatives to the
JSC on written notice to the other Party. The JSC shall be chaired on an annual rotating basis by a representative of either Abbott or Galapagos, as applicable, on the Joint Steering Committee, with [...***...] providing the first such
chairperson. The chairperson shall appoint a secretary of the Joint Steering Committee, who shall be a representative of the other Party and who shall serve for the same annual term as such chairperson. 

2.2 Joint Development Committee. 

2.2.1 Formation. As soon as practical after the Effective Date, but no later than thirty (30) days, the Parties
shall establish a joint development committee (the “Joint Development Committee” or “JDC”). The JDC shall consist of three (3) representatives from each of the Parties, each with the requisite experience and
seniority to enable such person to make decisions on behalf of the Parties with respect to the issues falling within the jurisdiction of the JDC. From time to time, each Party may substitute one or more of its representatives to the JDC on written
notice to the other Party. The JDC shall be chaired on an annual rotating basis by a representative of either Abbott or Galapagos, as applicable, on the JDC, with [...***...] providing the first such chairperson. 

2.2.2 Specific Responsibilities. The JDC shall develop the strategies for and oversee the Development of the Licensed
Compounds or Licensed Products in the Territory, and shall serve as a forum for the coordination of Development activities for the Licensed Compounds or Licensed Products for the Territory. In particular, the JDC shall: 

(i) periodically (no less often than annually) review and serve as a forum for discussing the Initial Development Plan and
Budget, and review and approve amendments thereto, including any Material Amendment; 
 (ii) oversee the conduct of
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 (iii) serve as a forum for discussing and coordinating strategies for obtaining
Regulatory Approvals for the Licensed Products in the Territory; 
 (iv) determine whether a Compound Failure has occurred;

 (v) establish secure access methods (such as secure databases) for each Party to access Regulatory Documentation and
other JDC related Information as contemplated under this Agreement; and 
 (vi) perform such other functions as are set
forth herein or as the Parties may mutually agree in writing, except where in conflict with any provision of this Agreement. 

2.2.3 Disbandment. Upon Regulatory Approval of the last Licensed Product developed pursuant to the Development Plan and
Budget, unless otherwise mutually agreed in writing, the JDC shall have no further responsibilities or authority under this Agreement and will be considered dissolved by the Parties. Additionally, in the event of a Change in Control of Galapagos,
Abbott shall have the right at any time and for any reason, effective upon written notice, to disband the JDC pursuant to Section 13.2.2. 

2.3 Joint Commercialization Committee. 

2.3.1 Formation. At least [...***...] ([...***...]) months prior to the anticipated date of First
Commercial Sale of a Co-Promotion Product in the Co-Promotion Territory, the Parties shall establish a joint commercialization committee (the “Joint Commercialization Committee” or “JCC”). The JCC shall consist of
two (2) representatives from each of the Parties, each with the requisite experience and seniority to enable such person to make decisions on behalf of the Parties with respect to the issues falling within the jurisdiction of the JCC. From time
to time, each Party may substitute one or more of its representatives to the JCC on written notice to the other Party. Abbott shall select from its representatives the chairperson for the JCC. From time to time, Abbott may change the representative
who will serve as chairperson on written notice to Galapagos. 
 2.3.2 Specific Responsibilities. The JCC shall
develop the strategies for and oversee the Commercialization of the Co-Promotion Products in the Co-Promotion Territory. In particular, the JCC shall: 

(i) establish a strategy for the Commercialization of the Co-Promotion Products in the Co-Promotion Territory; 

(ii) periodically (no less often than annually) review and serve as a forum for discussing the Co-Promotion Commercialization
Plan and review and approve amendments thereto; 
 (iii) oversee at a high level all Commercialization activities in the
Co-Promotion Territory with respect to the Co-Promotion Products; 
 (iv) resolve any disputes regarding whether any
proposed Phase 4 Studies or proposed regulatory action could have a Material Adverse Effect, in each case in the Co-Promotion Territory with respect to the Co-Promotion Products; 

  
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 (v) review and approve the manner in which the Markings are to be presented on
promotional materials and Product Labeling for the Co-Promotion Products in the Co-Promotion Territory; 
 (vi) perform such
other functions as are set forth herein or as the Parties may mutually agree in writing, except where in conflict with any provision of this Agreement. 

(vii) JCC Dispute Resolution. [...***...]. 

2.4 General Provisions Applicable to Joint Committees. 

2.4.1 Meetings and Minutes. The JSC shall meet semi-annually and the JDC and the JCC shall meet quarterly, or in each
case as otherwise agreed to by the Parties, with the location of such meetings alternating between locations designated by Galapagos and locations designated by Abbott [...***...]. The chairperson of the applicable Joint Committee shall be
responsible for calling meetings on no less than thirty (30) Business Days’ notice. Each Party shall make all proposals for agenda items and shall provide all appropriate information with respect to such proposed items at least ten
(10) Business Days in advance of the applicable meeting; provided that under exigent circumstances requiring input by the Joint Committee, a Party may provide its agenda items to the other Party within a shorter period of time in advance
of the meeting, or may propose that there not be a specific agenda for a particular meeting, so long as the other Party consents to such later addition of such agenda items or the absence of a specific agenda for such meeting, such consent not to be
unreasonably withheld or delayed. The chairperson of the Joint Committee shall prepare and circulate for review and approval of the Parties minutes of each meeting within thirty (30) days after the meeting. The Parties shall agree on the
minutes of each meeting promptly, but in no event later than the next meeting of the Joint Committee. If the Parties cannot agree on the content of the minutes the objecting party shall append a notice of objection with the specific details of the
objection to the proposed minutes. 
 2.4.2 Procedural Rules. Each Joint Committee shall have the right to adopt such
standing rules as shall be necessary for its work, to the extent that such rules are not inconsistent with this Agreement. A quorum of the Joint Committee shall exist whenever there is present at a meeting at least one (1) representative
appointed by each Party. Representatives of the Parties on a Joint Committee may attend a meeting either in person or by telephone, video conference or similar means in which each participant can hear what is said by, and be heard by, the other
participants. Representation by proxy shall be allowed. Each Joint Committee shall take action by unanimous agreement of the representatives present at a meeting at which a quorum exists, with each Party having a single vote irrespective of the
number of representatives of such Party in attendance, or by a written resolution signed by at least one (1) representative appointed by each Party. Employees or consultants of either Party that are not representatives of the Parties on a Joint
Committee may attend meetings of such Joint Committee; provided, however, that such attendees (i) shall not vote or otherwise participate in the decision-making process of the Joint Committee, and (ii) are bound by obligations of
confidentiality and non-disclosure equivalent to those set forth in Article 9. 
 2.4.3 Joint Committee Dispute
Resolution. If the JDC cannot, or does not, reach unanimous agreement on an issue at a meeting or within a period of [...***...] 

  
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([...***...]) Business Days thereafter or such other period as the Parties may agree, then the dispute shall be referred to the JSC for resolution and a special meeting of the JSC may be
called for such purpose. If the JSC cannot, or does not, reach unanimous agreement on an issue, including any dispute arising from the JDC, then the dispute shall first be referred to the Senior Officers of the Parties, who shall confer in good
faith on the resolution of the issue. Any final decision mutually agreed to by the Senior Officers shall be conclusive and binding on the Parties. If the Senior Officers are not able to agree on the resolution of any such issue within
[...***...] after such issue was first referred to them, then, such dispute shall be finally and definitively resolved by: [...***...]. Except as to Disputes arising out of the JCC (which shall be addressed as set forth in
Section 2.3.2(vii)), Disputes arising between the Parties in connection with or relating to this Agreement or any document or instrument delivered in connection herewith, and that are outside of the jurisdiction of the JSC, shall be resolved
pursuant to Section 13.8. 
 2.4.4 Limitations on Authority. Each Party shall retain the rights, powers, and
discretion granted to it under this Agreement and no such rights, powers, or discretion shall be delegated to or vested in a Joint Committee unless such delegation or vesting of rights is expressly provided for in this Agreement or the Parties
expressly so agree in writing. No Joint Committee shall have the power to amend, modify, or waive compliance with this Agreement, which may only be amended or modified as provided in Section 13.10 or compliance with which may only be waived as
provided in Section 13.12. 
 2.4.5 Alliance Manager. Each Party shall appoint a person(s) who shall oversee
contact between the Parties for all matters between meetings of each Joint Committee and shall have such other responsibilities as the Parties may agree in writing after the Effective Date (each, an “Alliance Manager”). Each Party
may replace its Alliance Manager at any time by notice in writing to the other Party. 
 2.5 Discontinuation of Participation on a
Committee. Subject to Sections 2.2.3 and 13.2.2, each Joint Committee shall continue to exist until the first to occur of: (i) the Parties mutually agreeing to disband the Joint Committee; or (ii) Galapagos providing to Abbott written
notice of its intention to disband and no longer participate in such Joint Committee, provided that Galapagos shall not give such written notice prior to the completion of all Initial Development Activities. Notwithstanding anything herein to
the contrary, once Galapagos has provided such written notice, such Joint Committee shall be terminated and shall have no further rights or obligations under this Agreement, and thereafter any requirement of Galapagos to provide Information or other
materials to such Joint Committee shall be deemed a requirement to provide such Information or other materials to Abbott and Abbott shall have the right to solely decide, without consultation with Galapagos, all matters that are subject to the
review or approval by such Joint Committee hereunder. 
 2.6 Interactions Between a Committee and Internal Teams. The Parties
recognize that each Party possesses an internal structure (including various committees, teams and review boards) that will be involved in administering such Party’s activities under this Agreement. Nothing contained in this Article shall
prevent a Party from making routine day-to-day decisions relating to the conduct of those activities for which it has performance or other obligations hereunder, in each case in a manner consistent with the then-current applicable plan and the terms
and conditions of this Agreement. 

  
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 2.7 Working Groups. From time to time, a Joint Committee may establish and delegate
duties to sub-committees or directed teams (each, a “Working Group”) on an “as-needed” basis to oversee particular projects or activities (for example, joint project team, joint finance group, and/or joint intellectual
property group). Each such Working Group shall be constituted and shall operate as the Joint Committee determines; provided that each Working Group shall have equal representation from each Party, unless otherwise mutually agreed. Working Groups may
be established on an ad hoc basis for purposes of a specific project or on such other basis as the Joint Committee may determine. Each Working Group and its activities shall be subject to the oversight, review and approval of, and shall report to,
the Joint Committee that formed said Working Group. In no event shall the authority of the Working Group exceed that specified for the Joint Committee that formed the Working Group to this Article. All decisions of a Working Group shall be by
unanimous agreement. Any disagreement between the designees of Abbott and Galapagos on a Working Group shall be referred to the Joint Committee that formed the Working Group for resolution. 

2.8 Expenses. Each Party shall be responsible for all travel and related costs and expenses for its members and other representatives
to attend meetings of, and otherwise participate on, a Committee or other Working Group. 
 ARTICLE 3 

DEVELOPMENT AND REGULATORY 

3.1 Initial Development Plan and Budget and Initial Development Activities. 

3.1.1 Initial Development Plan and Budget. Either Party, directly or through its representatives on the JDC, may
propose amendments to the Initial Development Plan and Budget from time to time as appropriate, including in light of changed circumstances. Any and all such amendments shall be subject to approval by the JDC as set forth in Section 2.2.2,
subject to the dispute resolution procedures set forth in Section 2.4.3. 
 3.1.2 Initial Development
Activities. Galapagos shall perform the Initial Development Activities, and shall do so in accordance with the Initial Development Plan and Budget (including the budget set forth therein) by allocating sufficient time, effort, equipment, and
skilled personnel to complete such Initial Development Activities successfully and promptly. If Galapagos is in material breach of its obligation to perform any Initial Development Activities and fails to remedy such breach within [...***...]
([...***...]) days after written notice thereof from Abbott, Abbott shall have the right, at Abbott’s sole election, and without limitation to any other right or remedy available to Abbott, to assume and complete some or all of such
Initial Development Activities. If Abbott so elects to assume and complete any of the Initial Development Activities, to the extent requested by Abbott in writing, Galapagos shall assign to Abbott any or all Third Party agreements relating to such
Initial Development Activities (including agreements with contract research organizations, clinical sites and investigators). In such event, with respect to all such Initial Development Activities that involve Clinical Studies, at Abbott’s
option, Galapagos shall either (i) end such Clinical Studies with respect to enrolled subjects in an orderly and prompt manner in accordance with Applicable Law, including any required follow up treatment with previously enrolled subjects, or
(ii) transfer control to Abbott or its designee of such Clinical Studies and cooperate with Abbott to ensure a smooth and orderly 

  
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transition thereof that will not involve any disruption of such studies. Galapagos shall bear the responsibility for the direct out-of-pocket costs and expenses of the Initial Development
Activities (including supply costs), regardless of which Party undertakes such Initial Development Activities. 
 3.1.3
Regulatory Diligence. Galapagos shall use Commercially Reasonable Efforts in undertaking the Development activities for the initial Licensed Product containing or comprising the Lead Compound for the Initial Indication in those countries in the
Territory set forth in the Initial Development Plan and Budget. Galapagos acknowledges that the exercise of its Commercially Reasonable Efforts as set forth in this Section 3.1.3 means that the provision by Galapagos to Abbott of the Complete
Data Package is expected by [...***...]. If Galapagos does not provide the Complete Data Package by [...***...], upon Galapagos’ showing that such delay is due to causes relating to Development or regulatory issues, Abbott hereby
agrees to extend such delayed date until such Development or regulatory issues are fully resolved in a reasonable period of time. If Abbott alleges that Galapagos has failed to show that such delay is due to Development or regulatory issues, then
Abbott shall have the option either to: (i) assume and complete some or all remaining Initial Development Activities pursuant to Section 3.1.2; or (ii) notify Galapagos of such failure as an alleged material breach, subject to
Section 12.2.1. 
 3.1.4 Complete Data Package. Within [...***...] ([...***...]) days after database
lock of the Phase 2 Study for the Lead Compound in the Field of RA pursuant to the Initial Development Plan and Budget, Galapagos shall provide Abbott with a completion report, which report shall include all Information, Clinical Data, SAS charts
and supporting documentation to support a decision on whether all Phase 2B RA Success Criteria have been met, including, finalized statistical analysis plan, along with a quality assurance statement certifying no quality issues limiting the validity
of the Phase 2 Study were raised during the Conduct of the Phase 2 Study, and such other information as Abbott may reasonably request in connection with its evaluation of such data (“Complete Data Package”). 

3.2 Development Activities for Initial Indication After In-Licensing. 

3.2.1 Development Plan and Budget. Prior to completion of the Initial Development Activities, the JDC shall jointly
develop the Development Plan and Budget for the program of Development (other than Development covered by the Initial Development Plan and Budget) with respect to the Lead Compound for the Initial Indication. All Development activities, including
any Clinical Studies, shall be designed and implemented so as to support the filing of Drug Approval Applications and the obtaining of Regulatory Approvals for the Licensed Product for the Initial Indication. The Parties shall engage in Development
activities in accordance with the terms and conditions of this Agreement and the applicable Development Plan and Budget. 

3.2.2 Updates; Amendments. The JDC shall review each Development Plan and Budget at least annually for the purpose of
considering appropriate amendments thereto. The JDC shall manage (or have a Working Group manage) the proposed updating and/or amending of each Development Plan and Budget in a manner designed to have an initial draft for the following Calendar Year
prepared by [...***...] of the then-current Calendar Year for review and input and to obtain JDC approval no later than [...***...] of the then-current Calendar Year. In addition, either Party, through its representatives on the JDC, may
propose amendments to any Development Plan and Budget at any time. 

  
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 3.3 Development Other than the Initial Development Activities. After Abbott proceeds with
the In-Licensing, and except as otherwise expressly set forth herein (i.e., with respect to the Initial Development Activities), Abbott (itself or through its Affiliates or Sublicensees) shall have the sole right to Develop Licensed Compounds and
Licensed Products in the Territory. Abbott shall bear the responsibility for the direct out-of-pocket costs and expenses of the Development activities (including supply costs) subsequent to the Initial Development Activities. 

3.4 Diligence. 
 3.4.1
Following the successful completion by Galapagos of the Initial Development Activities in accordance with the Initial Development Plan and Budget, Abbott shall use Commercially Reasonable Efforts to obtain all Regulatory Approvals for the
initial Licensed Product containing or comprising the Lead Compound for the Initial Indication in accordance with the Development Plan. 

3.4.2 Notwithstanding Section 3.4.1, Abbott acknowledges that the exercise of its Commercially Reasonable Efforts means that the
following activities are expected by the dates indicated below: 
 (i) Drug Approval Filing in US for Initial Indication:
[...***...] 
 (ii) Drug Approval Filing in a Major Market for Initial Indication: [...***...] 

3.4.3 If Abbott is unable to achieve one or more of the Drug Approval Filings by the dates indicated in Section 3.4.2(i)-(ii), or
any extension of such dates, then Abbott shall notify Galapagos in writing of such delay in a prompt and timely manner. Upon Abbott’s reasonable showing that such delay is due to causes relating to Development or regulatory issues, Galapagos
hereby agrees to extend such delayed date until such Development or regulatory issues are fully resolved in a reasonable period of time. [...***...]. 

3.5 Pre-Clinical and Clinical Supply of Licensed Compounds or Licensed Products; Subcontracting. 

3.5.1 Supply. For the Initial Development Activities, Galapagos shall supply pre-clinical and clinical requirements of the Licensed
Compounds or Licensed Products and placebo or other comparators for use by Galapagos in the Development of Licensed Compounds or Licensed Products as contemplated in the Initial Development Plan and Budget. 

(i) After Abbott proceeds with the In-Licensing, and for Development activities subsequent to the Initial Development
Activities, Abbott shall supply pre-clinical and clinical requirements of the Licensed Compounds or Licensed Products and placebo or other comparators for use by Abbott in the Development of Licensed Compounds or Licensed Products as contemplated in
the Development Plan and Budget. In order to ensure the continuity of Development of the Licensed Compound, as reasonably requested by Abbott, Galapagos shall and shall use Commercially Reasonable Efforts to cause its Third Party subcontractors to
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agreements with Abbott to facilitate the transition of clinical supply responsibility to Abbott after Abbott proceeds with the In-Licensing, which agreements shall provide for the Phase 3
clinical supply materials (as set forth in the Development Plan and Budget) to be charged to Abbott at [...***...]. 

(ii) If Abbott does not proceed with the In-Licensing, and Abbott has established a GMP Manufacturing process for Phase 3
supplies of Licensed Compound, Abbott shall supply ([...***...]) Galapagos with Galapagos’ requirements of Licensed Compound for Phase 3 studies thereof; provided that the foregoing supply obligation shall not extend for longer
than [...***...] ([...***...]) months after the time at which Abbott does not proceed with the In-Licensing. 

3.5.2 Manufacture. The Party responsible for the Manufacture of Licensed Compounds or Licensed Products and placebo or
other comparators pursuant to Section 3.5.1 shall Manufacture pursuant to GMP. 
 3.5.3 Subcontracting. Each
Party shall have the right to subcontract any of its Development activities to an Affiliate and/or a Third Party (“Third Party Provider”), provided, with respect to a Third Party Provider, that it furnishes the other
Party with advanced written notice thereof and an opportunity to consult regarding such subcontract, which notice shall specify the work to be subcontracted, and obtains a written undertaking from the subcontractor that it shall be subject to the
applicable terms and conditions of this Agreement, including the intellectual property provisions of Article 7 and confidentiality provisions of Article 9. [...***...] develop a form of clinical study agreement and other form agreements
(including API supply, service, confidentiality, material transfer and research collaboration agreements) (“Development Activities Agreements”) to be entered into with Third Parties to govern such Third Parties’ performance of
activities on Galapagos’ behalf under the Initial Development. Galapagos shall ensure that any Development Activities Agreement that Galapagos negotiates shall not materially deviate from the forms agreed to by Abbott without Abbott’s
prior review and written approval. The Parties may agree that each Party shall appoint a contract coordinator to serve as such Party’s primary liaison with the other Party on matters relating to Development Activities Agreements. Each Party may
replace its contract coordinator at any time by written notice to the other Party. 
 3.5.4 Provision of Technology and
Documentation.  
 (i) Immediately after the Effective Date, Galapagos shall, and shall cause its Affiliates to,
without additional compensation, disclose and make available to Abbott, in whatever form Abbott may reasonably request, Regulatory Documentation, Galapagos Know-How, Joint Know-How, and any other Information relating, directly or indirectly, to the
Licensed Compound or any Licensed Product (including, but not limited to, all information related to Manufacturing), to the extent not done so already and thereafter immediately upon the availability of such Regulatory Documentation, Galapagos
Know-How, Joint Know-How, or other Information. 
 (ii) Galapagos, at its sole cost and expense, shall provide Abbott with
all reasonable assistance required in order to transfer to Abbott the Regulatory Documentation, Galapagos Know-How, Joint Know-How, and other Information required to be produced pursuant to clause (i) above, in each case in a timely manner, and
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Compound and any Licensed Products. Without prejudice to the generality of the foregoing, if visits of Galapagos’ representatives to Abbott’s facilities are reasonably requested by
Abbott for purposes of transferring the Regulatory Documentation, Galapagos Know-How, Joint Know-How, or other Information to Abbott or for purposes of Abbott acquiring expertise on the practical application
of such Information or assisting on issues arising during such Exploitation, Galapagos shall send appropriate representatives to Abbott’s facilities, which representatives’ reasonable travel costs shall be paid by Abbott. 

3.6 Development Costs Relating to Initial Development Activities. Galapagos shall be solely responsible for and shall bear all costs
(i) incurred by it and its Affiliates in connection with the performance of the Initial Development Activities, and (ii) incurred by Abbott and its Affiliates in connection with Initial Development Activities that Abbott elects to assume
and complete upon a material breach by Galapagos pursuant to Section 3.1.2. 
 3.7 Regulatory Matters. 

3.7.1 Regulatory Activities. 

(i) After Abbott proceeds with the In-Licensing, Abbott shall have the sole right to prepare, obtain, and maintain the Drug
Approval Applications (including the setting of the overall regulatory strategy therefor), other regulatory approvals and other submissions, and to conduct communications with the Regulatory Authorities, for Licensed Compounds or Licensed Products
in the Territory (which shall include filings of or with respect to INDs and other filings or communications with the Regulatory Authorities). Galapagos shall support Abbott, as may be reasonably necessary, in obtaining Regulatory Approvals for the
Licensed Products, and in the activities in support thereof, including providing necessary documents or other materials required by Applicable Law to obtain Regulatory Approvals, in each case in accordance with the terms and conditions of this
Agreement and the applicable Development Plan and Budget. 
 (ii) Upon Abbott proceeding with the In-Licensing, all
Regulatory Documentation (including all Regulatory Approvals and Product Labeling) relating to the Licensed Compounds or Licensed Products with respect to the Territory shall be owned by, and shall be the sole property and held in the name of,
Abbott or its designated Affiliate, Sublicensee or designee. Upon Abbott proceeding with the In-Licensing, Galapagos hereby assigns to Abbott all of its right, title, and interest in and to all Existing Regulatory Documentation (including any
existing Regulatory Approvals) and all other Regulatory Documentation Controlled by Galapagos from time to time during the Term, and Galapagos shall execute and deliver, or cause to be duly executed and delivered, such instruments and shall do and
cause to be done such acts and things, including the filing of such assignments, agreements, documents, and instruments, as may be necessary under, or as Abbott may reasonably request in connection with, or to carry out more effectively the purpose
of, or to better assure and confirm unto Abbott its rights under, this Section. 
 (iii) Abbott shall provide Galapagos
with an opportunity to review and comment on all major regulatory filings and documents (including INDs, Drug Approval Applications, material labeling supplements, Regulatory Authority meeting requests, and core data sheets) for the Initial
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Markets (collectively, “Major Regulatory Filings”). Abbott shall provide access to interim drafts of such Major Regulatory Filings to Galapagos via the access methods (such as
secure databases) established by the JDC, and Galapagos shall provide its comments on the final drafts of such Major Regulatory Filings or of proposed material actions within [...***...] ([...***...]) Business days ([...***...]
([...***...]) Business days for Drug Approval Applications), or such other longer period of time mutually agreed to by the Parties. If a Regulatory Authority establishes a response deadline for any such Major Regulatory Filing or material
action shorter than such [...***...] ([...***...]) Business day (or [...***...] ([...***...]) Business day) period, the Parties shall work cooperatively to ensure the other Party has a reasonable opportunity for review and
comment within such deadlines. Abbott shall, and shall cause its Affiliates and Sublicensees to, consider in good faith any such comments of Galapagos. 

(iv) Subject to the immediately following sentence, Abbott shall provide Galapagos with (A) access to or copies of all
material written or electronic correspondence (other than regulatory filings) relating to the Development or Commercialization of Licensed Compounds or Licensed Products for the Initial Indication received by Abbott or its Affiliates or Sublicensees
from, or forwarded by Abbott or its Affiliates or Sublicensees to, the Regulatory Authorities in the United States, Japan and in the Major Markets, and (B) copies of all meeting minutes and summaries of all meetings, conferences, and
discussions held by Abbott or its Affiliates or Sublicensees with the Regulatory Authorities relating to the Development or Commercialization of Licensed Compounds or Licensed Products for the Initial Indication in the United States, Japan and in
the Major Markets, including copies of all contact reports produced by Abbott or its Affiliates or Sublicensees, in each case ((A) and (B)) within [...***...] ([...***...]) Business Days of its receipt, forwarding or production of the
foregoing, as applicable. If such written or electronic correspondence received from any such Regulatory Authority relates to the withdrawal, suspension, or revocation of a Regulatory Approval for a Licensed Product for the Initial Indication, the
prohibition or suspension of the supply of a Licensed Compound or Licensed Product for the Initial Indication, or the initiation of any investigation, review, or inquiry by such Regulatory Authority concerning the safety of a Licensed Compound or
Licensed Product for the Initial Indication, Abbott shall notify Galapagos and provide Galapagos with copies of such written or electronic correspondence as soon as practicable. 

(v) Abbott shall provide Galapagos with prior written notice, to the extent Abbott has advance knowledge, of any scheduled
meeting, conference, or discussion (including any advisory committee meeting) with a Regulatory Authority in the United States, Japan and in the Major Markets relating to a Licensed Product for the Initial Indication, reasonably promptly after
Abbott or its Affiliate or Sublicensee first receives notice of the scheduling of such meeting, conference, or discussion (or within such shorter period as may be necessary in order to give Galapagos a reasonable opportunity to attend such meeting,
conference, or discussion). Galapagos shall have the right to have two (2) of Galapagos’ employees attend as an observer (but not participate in) all such meetings, conferences, and discussions. 

(vi) Abbott shall make every reasonable effort to notify Galapagos promptly following its determination that any event,
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occurred that may result in the need for a recall, market suspension, or market withdrawal of a Licensed Product in the Territory for the Initial Indication, and shall include in such notice the
reasoning behind such determination, and any supporting facts. Abbott (or its Sublicensee) shall have the right to make the final determination whether to voluntarily implement any such recall, market suspension, or market withdrawal in the
Territory. If a recall, market suspension, or market withdrawal is mandated by a Regulatory Authority in the Territory, Abbott (or its Sublicensee) shall initiate such a recall, market suspension, or market withdrawal in compliance with Applicable
Law. For all recalls, market suspensions or market withdrawals undertaken pursuant to this Section 3.7.1(vi), Abbott (or its Sublicensee) responsible for the recall, market suspension, or market withdrawal shall be solely responsible for the
execution thereof, and Galapagos shall reasonably cooperate in all such recall efforts. Subject to Article 11, (A) If and to the extent that a recall, market suspension, or market withdrawal resulted from a Party’s or its Affiliate’s
breach of its obligations hereunder, or from such Party’s or its Affiliate’s negligence or willful misconduct, such Party shall bear the expense of such recall, market suspension, or market withdrawal, (B) with respect to any recall,
market suspension, or market withdrawal of a Co-Promotion Product in the Co-Promotion Territory other than in clause (A) above, the expenses incurred by the Parties as a result of such recall, market suspension, or market withdrawal shall be
included in Allowable Expenses hereunder and shared by the Parties pursuant to Section 6.9.1, and (C) with respect to any recall, market suspension, or market withdrawal not covered by clause (A) or (B), Abbott shall be responsible
for all costs of such recall, market suspension, or market withdrawal and deducted from Net Sales pursuant to Article 6. 

3.7.2 Regulatory Data. 

(i) Each Party shall promptly provide to the other Party copies of or access to all non-clinical data and Clinical Data, and
other Information, results, and analyses with respect to any Development activities that are Controlled by such Party or any of its Affiliates (collectively, “Regulatory Data”), when and as such Regulatory Data becomes available.

 (ii) After Abbott proceeds with the In-Licensing, Galapagos shall support Abbott, as may be reasonably necessary or
appropriate, in obtaining Regulatory Approval for the Licensed Compound or Licensed Products, including providing necessary documents or other materials required by Applicable Law to obtain Regulatory Approvals, in each case in accordance with the
terms and conditions of this Agreement and any applicable Development Plan and Budget. 
 3.8 Compliance. Each Party shall perform
or cause to be performed, any and all of its Development activities, including Initial Development Activities, in good scientific manner and in compliance with all Applicable Law. 

3.9 Records. 

3.9.1 Each of Galapagos and Abbott shall, and shall ensure that its Third Party Providers, maintain records in
sufficient detail and in good scientific manner appropriate for patent and regulatory purposes, and in compliance with Applicable Law, which shall be complete and accurate and shall properly reflect all work done and results achieved in the
performance of its designated Development activities which shall record only 

  
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such activities and shall not include or be commingled with records of activities outside the scope of this Agreement. Such records shall be retained by Galapagos or Abbott, as the case may be,
for at least [...***...] ([...***...]) years after the termination of this Agreement, or for such longer period as may be required by Applicable Law. 

3.9.2 Each Party shall have the right, during normal business hours and upon reasonable notice, to inspect and copy all
records of the other Party maintained pursuant to Section 3.9.1. The inspecting Party shall maintain such records and the information disclosed therein in confidence in accordance with Article 9. 

3.9.3 Without limiting Section 7.1, the JDC shall determine what reports shall be generated to track the
Development activities, including the content and timing thereof. The Parties shall promptly share all such reports with the JDC. 

ARTICLE 4 

COMMERCIALIZATION 
 4.1
In General. After Abbott proceeds with the In-Licensing, Abbott (itself or through its Affiliates or Sublicensees) shall have the sole right to Commercialize Licensed Compounds and Licensed Products in the Territory at its own cost and expense
(except as otherwise expressly set forth herein). 
 4.2 Co-Promotion Commercialization Plan. In addition to the other provisions of
this Agreement applicable to a Co-Promotion Product, upon Galapagos’ exercise of its Co-Promotion Option under Section 4.9: 

4.2.1 The Commercialization of the Co-Promotion Product in the Co-Promotion Territory shall be conducted pursuant to a
comprehensive multi-year plan (the “Co-Promotion Commercialization Plan”). At least [...***...] ([...***...]) days prior to the anticipated date of the First Commercial Sale of the Co-Promotion Product, Abbott shall
propose to the JCC the initial Co-Promotion Commercialization Plan. Such plan shall allocate responsibility for such Commercialization activities to the Parties, which activities shall, in the case of Detailing, be allocated to each Party in
accordance with Section 6.9, and shall otherwise be allocated to Abbott (unless the Parties otherwise agree). 

4.2.2 The JCC shall review the Co-Promotion Commercialization Plan within [...***...] ([...***...]) days
after receipt and, thereafter, at least annually, and shall make amendments thereto. 
 4.3 Diligence. Abbott shall use Commercially
Reasonable Efforts to Commercialize a Licensed Product for the Initial Indication in the United States and each Major Market country. Abbott shall have the right to satisfy its diligence obligations under this Section through its Affiliates or
Sublicensees, and nothing in this Section is intended, or shall be construed, to require Abbott to Develop or Commercialize a specific Licensed Compound or Licensed Product. If Abbott decides to discontinue the development or commercialization
of a Licensed Compound or Licensed Product in favor of another Licensed Compound or Licensed Product, its obligations under this Section shall cease with respect to such initial Licensed Compound or Licensed Product in favor of such other Licensed
Compound or Licensed Product. If at any time Galapagos has a reasonable basis to believe that Abbott is in material breach of its material obligations under this Section, then Galapagos shall so notify Abbott, specifying the

  
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basis for its belief, and the Parties shall meet within [...***...] ([...***...]) days after such notice to discuss in good faith Galapagos’ concerns and Abbott’s
Commercialization plans with respect to Licensed Product. 
 4.4 Statements and Compliance with Applicable Law. Each Party shall,
and shall cause its Affiliates to, comply in all material respects with all Applicable Law with respect to the Commercialization of Licensed Products. 

4.5 Booking of Sales; Distribution. Abbott shall have the sole right to invoice and book sales, establish all terms of sale (including
pricing and discounts) and warehousing, and distribute the Licensed Products (including Co-Promotion Products) in the Territory and to perform or cause to be performed all related services. Abbott shall handle all returns, recalls, or withdrawals,
order processing, invoicing, collection, distribution, and inventory management with respect to the Licensed Products (including Co-Promotion Products) in the Territory. 

4.6 Product Trademarks. 

4.6.1 Subject to Section 4.7, Abbott shall have the sole right to determine and own the Product Trademarks to be used with respect
to the Exploitation of the Licensed Products on a worldwide basis. 
 4.6.2 Galapagos covenants that it and its Affiliates shall
(i) not use in their respective businesses, any Trademark that is confusingly similar to, misleading or deceptive with respect to or that dilutes any (or any part) of the Product Trademarks, (ii) not do any act which endangers, destroys,
or similarly affects, in any material respect, the value of the goodwill pertaining to the Product Trademarks, and (iii) conform (A) to the customary industry standards for the protection of Product Trademarks for products and such
guidelines of Abbott with respect to manner of use (as provided in writing by Abbott) of the Product Trademarks, and (B) maintain the quality standards of Abbott with respect to the goods sold and services provided in connection with such
Product Trademarks. 
 4.6.3 Galapagos covenants that it and its Affiliates shall not (i) do any act that endangers, destroys,
or similarly affects, in any material respect, the value of the goodwill pertaining to the Product Trademarks, or (ii) attack, dispute, or contest the validity of or ownership of such Product Trademark anywhere in the Territory or any
registrations issued or issuing with respect thereto. 
 4.7 Markings. To the extent required by Applicable Law in a country or
other jurisdiction in the Territory, the promotional materials and Product Labeling for the Licensed Products used by Abbott and its Affiliates in connection with the Licensed Products in such country or other jurisdiction shall contain (i) the
Galapagos Corporate Name, and (ii) the logo and corporate name of the manufacturer (if other than Abbott or an Affiliate) (collectively, the “Markings”). 

4.8 Commercial Supply of Licensed Compounds or Licensed Products. 

4.8.1 Commercial Supply of Licensed Compounds or Licensed Products. After Abbott proceeds with the In-Licensing, Abbott shall have the
sole right, at its expense, to Manufacture (or have Manufactured) and supply the Licensed Compound and Licensed Products for commercial sale in the Territory by Abbott and its Affiliates and Sublicensees except to the extent otherwise provided in
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Budget or Development Plan and Budget. Notwithstanding the foregoing, Abbott and Galapagos may enter into a supply agreement pursuant to which Galapagos shall supply to Abbott the Licensed
Compounds or Licensed Products as a second source (the “Supply Agreement”) in such quantities as Abbott may order in accordance with the terms and conditions of such agreement. The Supply Agreement shall contain such pricing and
terms as are reasonable and customary for similar supply agreements that shall be negotiated and agreed by the Parties in good faith. 

4.8.2 Manufacturing Technology Transfer Upon Abbott’s Request. Abbott shall have the right, at any time and from
time to time after Abbott proceeds with the In-Licensing, to require Galapagos to effect a full transfer to Abbott or its designee (which designee may be an Affiliate or a Third Party manufacturer, and which Third Party manufacturer may be a backup
manufacturer or a second manufacturer of Licensed Compound or Licensed Product) of all Galapagos Know-How relating to the then-current process for the Manufacture of the Licensed Compound and Licensed Products (the “Manufacturing
Process”) and to implement the Manufacturing Process at facilities designated by Abbott (such transfer and implementation, as more fully described in this Section 4.8.2, the “Manufacturing Technology Transfer”).
Galapagos shall provide, and shall use Commercially Reasonable Efforts to cause its Third Party manufacturers to provide (including by using Commercially Reasonable Efforts to negotiate contractual obligations for such Third Party manufacturers to
do so under agreements entered into following the Effective Date), all reasonable assistance requested by Abbott to enable Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) to implement the Manufacturing Process at the
facilities designated by Abbott. If requested by Abbott, such assistance shall include facilitating the entering into of agreements with applicable Third Party suppliers relating to the Licensed Compound and Licensed Products. Without limitation to
the foregoing, in connection with each Manufacturing Technology Transfer: 
 (i) Galapagos shall make available, and shall
use Commercially Reasonable Efforts to cause its Third Party manufacturers to make available (including by using Commercially Reasonable Efforts to negotiate contractual obligations for such Third Party manufacturers to do so under agreements
entered into following the Effective Date), to Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) from time to time as Abbott may request, all Manufacturing-related Galapagos Know-How, Information and materials relating
to the Manufacturing Process, and all documentation constituting material support, performance advice, shop practice, standard operating procedures, specifications as to materials to be used and control methods, that are reasonably necessary or
useful to enable Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) to use and practice the Manufacturing Process; 

(ii) Galapagos shall cause all appropriate employees and representatives of Galapagos and its Affiliates to meet with, and
shall use Commercially Reasonable Efforts to cause all appropriate employees and representatives of its Third Party manufacturers to meet with (including by using Commercially Reasonable Efforts to negotiate contractual obligations for such Third
Party manufacturers to do so under agreements entered into following the Effective Date), employees or representatives of Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) at the applicable manufacturing facility at
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up and use of the Manufacturing Process and with the training of the personnel of Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) to the extent reasonably
necessary or useful to enable Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) to use and practice the Manufacturing Process; 

(iii) Without limiting the generality of clause (ii) above, Galapagos shall cause all appropriate analytical and quality
control laboratory employees and representatives of Galapagos and its Affiliates to meet with, and shall use Commercially Reasonable Efforts to cause all appropriate analytical and quality control employees and representatives of its Third Party
manufacturers to meet with (including by using Commercially Reasonable Efforts to negotiate contractual obligations for such Third Party manufacturers to do so under agreements entered into following the Effective Date), employees or representatives
of Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) at the applicable manufacturing facility and make available all necessary equipment, at mutually convenient times, to support and execute the transfer of all
applicable analytical methods and the validation thereof (including, all applicable Galapagos Know-How, methods, validation documents and other documentation, materials and sufficient supplies of all primary and other reference standards); 

(iv) Galapagos shall take such steps, and shall use Commercially Reasonable Efforts to cause its Third Party manufacturers to
take such steps (including by using Commercially Reasonable Efforts to negotiate contractual obligations for such Third Party manufacturers to do so under agreements entered into following the Effective Date), as are reasonably necessary or useful
to assist in reasonable respects Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) in obtaining any necessary licenses, permits or approvals from Regulatory Authorities with respect to the Manufacture of the Licensed
Compound and Licensed Products at the applicable facilities; and 
 (v) Galapagos shall provide, and shall use Commercially
Reasonable Efforts to cause its Third Party manufacturers to provide (including by using Commercially Reasonable Efforts to negotiate contractual obligations for such Third Party manufacturers to do so under agreements entered into following the
Effective Date), such other assistance as Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) may reasonably request to enable Abbott (or its Affiliate or designated Third Party manufacturer, as applicable) to use and
practice the Manufacturing Process and otherwise to Manufacture Licensed Compounds and Licensed Products. 
 4.8.3
Subsequent Manufacturing Technology Transfer. Without limiting the foregoing, if Galapagos makes any invention, discovery, or improvement relating to the Manufacture of a Licensed Compound or a Licensed Product during the Term, Galapagos shall
promptly disclose such invention, discovery, or improvement to Abbott, and shall, at Abbott’s request, perform technology transfer with respect to such invention, discovery, or improvement in the same manner as provided in Section 4.8.2. 

4.9 Co-Promotion Option. 

4.9.1 Co-Promotion Option. Without limitation to Abbott’s rights under Section 5.4 outside the Co-Promotion
Territory, Galapagos shall have the exclusive right (the 

  
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“Co-Promotion Option”) to elect to assume [...***...] percent ([...***...]%) of the co-promotion effort for the Licensed Product containing the Lead Compound in the
Co-Promotion Territory for which such Licensed Product receives Regulatory Approval in the Co-Promotion Territory, if any (the “Co-Promotion Product”). Abbott shall provide Galapagos with at least [...***...] prior written
notice of its anticipated filing date for its Drug Approval Application with the applicable Regulatory Authority in the Co-Promotion Territory. 

4.9.2 Notice. In order to exercise the Co-Promotion Option, no later than [...***...] ([...***...]) months
prior to the anticipated filing of the Drug Approval Application with the applicable Regulatory Authority in a given country in the Co-Promotion Territory for the Initial Indication for the Co-Promotion Product), Galapagos must provide Abbott with
written notice of its election to exercise the Co-Promotion Option. Following delivery of such notice, the Parties shall negotiate the Co-Promotion Agreement reasonably and in good faith and with such diligence as is required to execute and deliver
the Co-Promotion Agreement by the date that is [...***...] ([...***...]) months following the date of such notice, or such other period as the Parties may agree in writing. 

4.9.3 Terms of Co-Promotion Agreement. The terms and conditions of such co-promotion arrangement shall be set forth in
a co-promotion agreement (the “Co-Promotion Agreement”) to be entered into between the Parties as set forth in this Section 4.9.3. The Co-Promotion Agreement shall include such provisions as are usual and customary in
Abbott’s contract sales force agreements, including with respect to diligence obligations of Galapagos, except that the financial terms of such arrangement shall be as provided in Section 4.9.4. Under the Co-Promotion Agreement, Abbott
shall have the right to make all final decisions with respect to the co-promotion arrangement, including the promotional materials to be used, the training and testing applicable to such sales representatives, and restrictions with respect to the
ability of such sales representatives to Detail other products. For purposes of this Section 4.9.3, “co-promote” or “co-promotion” means the Detailing of such Co-Promotion Product by Galapagos or its Affiliates under the
relevant Regulatory Approval and the Product Trademarks, and shall not mean the sale or distribution of such Co-Promotion Product by Galapagos or its Affiliates. 

4.9.4 Compensation for Co-Promotion. The Parties shall share, pursuant to Section 6.9, the costs and expenses
incurred by the Parties with respect to co-promotion under the Co-Promotion Agreement solely to the extent that such costs and expenses are included in Net Profits/Net Losses. Abbott shall have no other obligation to compensate Galapagos with
respect to its co-promotion of the Co-Promotion Products. 
 ARTICLE 5 

GRANT OF RIGHTS 
 5.1
Abbott Review Right. Galapagos hereby grants to Abbott the exclusive right to obtain the licenses set forth in Section 5.2. Upon Abbott’s receipt of the Complete Data Package pursuant to Section 3.1.4, Abbott shall have
[...***...] ([...***...]) days (the “Review Period”) to review and asses the Complete Data Package and to make a good faith determination of whether all Phase 2B RA Success Criteria have been met, and, no later than at
the end of the Review Period, Abbott shall notify Galapagos of such determination by providing written notice to Galapagos (the “Review Notice”). 

  
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 5.1.1 If Abbott notifies Galapagos through the Review Notice that the
Phase 2B RA Success Criteria have been met, then, by providing such Review Notice, Abbott shall be deemed to have entered into the licenses set forth in Section 5.2 (the “In-Licensing”). 

5.1.2 If Abbott notifies Galapagos through the Review Notice that the Phase 2B RA Success Criteria have not been met,
then Abbott may, at its sole discretion, no later than at the end of the Review Period: (i) exercise the Abbott No-Exercise Right set forth in Section 12.3.1(ii), or (ii) provide notification to Galapagos that it does proceed with the
In-Licensing. 
 5.1.3 If Abbott notifies Galapagos through the Review Notice that the Phase 2B RA Success Criteria
have not been met, and Abbott does not notify Galapagos prior to the end of the Review Period that it proceeds with the In-Licensing, or if Abbott does not provide Galapagos with the Review Notice within the Review Period, then all rights in
connection with the licenses set forth in Section 5.2 shall expire and be of no further force and effect, and the Agreement shall terminate in accordance with Section 12.1.1(i). 

5.2 Grants to Abbott. Subject to the prerequisites and restrictions of Sections 5.1, 5.4, and 5.7 Galapagos (on behalf of itself and
its Affiliates) hereby grants to Abbott: 
 5.2.1 an exclusive (including with regard to Galapagos and its Affiliates
except as provided in Section 5.7) license (or sublicense as the case may be), with the right to grant sublicenses in accordance with Section 5.4, under the Galapagos Patents, the Galapagos Know-How, and Galapagos’ interests in the
Joint Patents and the Joint Know-How, to Exploit the Licensed Compound and Licensed Products in the Field in the Territory; 

5.2.2 an exclusive (including with regard to Galapagos and its Affiliates except as provided in Section 5.7)
license and right of reference, with the right to grant sublicenses and further rights of reference in accordance with Section 5.4, under the Regulatory Approvals and any other Regulatory Documentation that Galapagos or its Affiliates may
Control with respect to the Licensed Compounds or Licensed Products as necessary for purposes of Exploiting the Licensed Compound and Licensed Products in the Field in the Territory; 

5.2.3 Subject to Section 7.1.5, a non-exclusive license, with the right to grant sublicenses in accordance with
Section 5.4, to use Galapagos Corporate Names solely as required to Exploit the Licensed Compounds or Licensed Products in the Field in the Territory and for no other purpose. 

5.3 Grants to Galapagos. Abbott grants to Galapagos: 

5.3.1 a non-exclusive, royalty-free license, without the right to grant sublicenses, under the Abbott Patents, the
Abbott Know-How, and Abbott’s interests in the Joint Patents and the Joint Know-How, to Develop the Licensed Compounds or Licensed Products solely for purposes of performing its obligations as set forth in, and subject to, the Initial
Development Plan and Budget and each applicable Development Plan and Budget; and 
 5.3.2 a non-exclusive,
royalty-free license, without the right to grant sublicenses, under the Abbott Patents, the Abbott Know-How, and Abbott’s interests in the 

  
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Joint Patents and the Joint Know-How, to Manufacture (or have Manufactured) Licensed Compound and Licensed Products solely for purposes of performing its obligations as set forth in, and subject
to, the Initial Development Plan and Budget and each applicable Development Plan and Budget and under the Supply Agreement (if and as applicable). 

5.4 Sublicenses. Abbott shall have the right to grant sublicenses (or further rights of reference), through multiple tiers of
sublicensees, under the licenses and rights of reference granted in Section 5.1, to its Affiliates and other Persons; provided that any such sublicenses shall be consistent with the terms and conditions of this Agreement. 

5.5 Distributorships. Abbott shall have the right, in its sole discretion, to appoint its Affiliates, and Abbott and its Affiliates
shall have the right, in their sole discretion, to appoint any other Persons, in the Territory or in any country or other jurisdiction of the Territory, to distribute, market, and sell the Licensed Products (with or without packaging rights), in
circumstances where the Person purchases its requirements of Licensed Products from Abbott or its Affiliates. Where Abbott or its Affiliates appoints such a Person and such Person is not an Affiliate of Abbott, that Person shall be a
“Distributor” for purposes of this Agreement. The term “packaging rights” in this Section means the right for the Distributor to package Licensed Products supplied in unpackaged bulk form into individual ready-for-sale
packs. 
 5.6 Co-Promotion Rights. For the avoidance of doubt, subject to Galapagos’s exclusive Co-Promotion Option pursuant to
Section 4.9.1, Abbott and its Affiliates shall have the right, in their sole discretion, to co-promote the Licensed Products with any other Person(s), or to appoint one or more Third Parties to promote the Licensed Products without Abbott in
all or any part of the Territory. 
 5.7 Retention of Rights. 

5.7.1 Notwithstanding the exclusive licenses granted to Abbott pursuant to Section 5.2, Galapagos retains the
right to practice under the Galapagos Patents, the Galapagos Know-How, Galapagos’ interests in the Joint Patents and the Joint Know-How, Regulatory Approvals and any other Regulatory Documentation to perform (and to sublicense Third Parties to
perform as permitted hereunder) its obligations under this Agreement (including Development, Detailing a Co-Promotion Product, and the making or having made and supply of Licensed Compound and Licensed Product to Abbott, as applicable). Except as
expressly provided herein respecting the Licensed Compounds, Galapagos grants no other right or license, including any rights or licenses to the Galapagos Patents, the Galapagos Know-How, the Regulatory Documentation, the Galapagos Corporate Names,
or any other Patent or intellectual property rights not otherwise expressly granted herein. 
 5.7.2 Except as
expressly provided herein, Abbott grants no other right or license, including any rights or licenses to the Abbott Patents, the Abbott Know-How, the Regulatory Documentation, or any other Patent or intellectual property rights not otherwise
expressly granted herein. 
 5.8 Confirmatory Patent License. Galapagos shall, if requested to do so by Abbott, immediately enter
into confirmatory license agreements in the form or substantially the form reasonably requested by Abbott for purposes of recording the licenses granted under this Agreement with such patent offices in the Territory as Abbott considers appropriate;
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no case, shall Galapagos be required to execute such license agreements if the legal effect thereof would be to transfer ownership of Galapagos Patents licensed thereunder to Abbott (in which
event Galapagos and Abbott would mutually agree on an alternate solution to address the need for a confirmatory license without materially damaging the interests of either Party). Until the execution of any such confirmatory licenses (or alternate
solution), so far as may be legally possible, Galapagos and Abbott shall have the same rights in respect of the Galapagos Patents and be under the same obligations to each other in all respects as if the said confirmatory licenses (or alternate
solution) had been executed. 
 5.9 Third Party In-License Agreements. During the Term, neither Galapagos nor any of its Affiliates
shall, without Abbott’s prior written consent, not to be unreasonably withheld or delayed, enter into any agreement with a Third Party related to Information, Regulatory Documentation, Patents, or other intellectual property rights affecting
the Licensed Compound or Licensed Product, and Galapagos shall consult with Abbott and seek Abbott’s comments on all draft proposals exchanged between Galapagos and the prospective licensor with respect to any such license. If Galapagos or any
of its Affiliates are a party to a license, sublicense or other agreement for additional rights, with the right to sublicense, under Patents or Information to make, use, sell, offer to sell or import the Licensed Compound or Licensed Product, or as
permitted in the aforementioned sentence, then Galapagos shall inform Abbott and shall provide Abbott with a copy (which may be redacted in pertinent part) of such license, sublicense, or other agreement (“Proposed Future Third Party
In-Licensed Rights”). If Abbott notifies Galapagos in writing that it wishes to be bound by and/or assume the rights and obligations of the Proposed Future Third Party In-Licensed Rights as they apply to Abbott and this Agreement, then the
Proposed Future Third Party In-Licensed Rights shall automatically be included in the Galapagos Patents and/or Galapagos Know-How (as applicable) hereunder and Abbott agrees to abide by all applicable terms and conditions of such license, sublicense
or other agreement, as it relates to Abbott and this Agreement. If Abbott declines to be bound by and/or assume the rights and obligations of the Proposed Future Third Party In-Licensed Rights as they apply to Abbott and this Agreement, Abbott may
in its discretion negotiate and conclude a separate agreement with the applicable licensor. 
 ARTICLE 6 

PAYMENTS AND RECORDS 

6.1 Upfront Payment. No later than [...***...] ([...***...]) days following the Effective Date, in partial consideration
for entering into the collaboration with Galapagos and the rights granted by Galapagos to Abbott pursuant to this Agreement, including, but not limited to, those set forth in particular in Section 5.2 of this Agreement, Abbott shall pay
Galapagos an non-refundable, one-time, upfront amount equal to One Hundred Fifty Million Dollars ($150,000,000.00). Such payment shall be non-creditable against any other payments due hereunder. 

6.2 In-Licensing Payment. No later than [...***...] ([...***...]) days following Abbott proceeding with the In-Licensing
pursuant to Section 5.1, Abbott shall pay Galapagos a one-time non-refundable, non-creditable amount equal to Two Hundred Million Dollars ($200,000,000.00). 

  
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 6.3 Regulatory Milestones. In partial consideration of the rights granted by Galapagos to
Abbott hereunder for the Lead Indication and subject to the terms and conditions set forth in this Agreement, Abbott shall pay to Galapagos a milestone payment within [...***...] ([...***...]) days after the achievement of each of the
following milestones, calculated as follows: 
 6.3.1 upon [...***...], [...***...] Dollars
($[...***...]); 
 6.3.2 upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.3 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.4 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.5 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.6 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.7 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.8 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.9 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.10 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.11 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.12 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.13 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.14 Upon [...***...], [...***...] Dollars ($[...***...]); 

6.3.15 Each milestone payment in this Section 6.3 shall be non-refundable, non-creditable and payable only upon
the first achievement of such milestone and no amounts shall be due for subsequent or repeated achievements of such milestone, whether for the same or a different Licensed Compound or Licensed Product. 

6.4 Sales-Based Milestones. 

6.4.1 In partial consideration of the license rights granted by Galapagos to Abbott hereunder, subject to
Section 6.4.2, if the Net Sales of a particular Licensed Product made by Abbott or any of its Affiliates or Sublicensees in a given Calendar Year exceeds a threshold (each, an “Annual Net Sales Milestone Threshold”) set forth
in the left-hand column of the table immediately below (the “Annual Net Sales-Based Milestone Table”), Abbott shall pay to Galapagos a milestone payment (each, an “Annual Net Sales-Based Milestone Payment”) in the
corresponding amount set forth in the right-hand column of the Annual Net Sales-Based Milestone Table. If in a given Calendar Year more than one (1) Annual Net Sales Milestone Threshold is exceeded, Abbott shall pay to Galapagos a separate
Annual Net Sales-Based Milestone Payment with respect to each Annual Net Sales Milestone Threshold that is exceeded in such Calendar Year. Each such milestone payment shall be due within [...***...] ([...***...]) days of the end of the
Calendar Year in which such milestone was achieved (each, a “Annual Net Sales-Based Milestone Payment Date”). 

  
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	 Threshold Annual Net Sales Levels
	  	Payment Amount	 
	 Greater than [...***...] Dollars ($[...***...])
	  	$	[...***...]	  
	 Greater than [...***...] Dollars ($[...***...])
	  	$	[...***...]	  
	 Greater than [...***...] Dollars ($[...***...])
	  	$	[...***...]	  

 6.4.2 Notwithstanding anything contained in Section 6.4.1, each milestone payment
in this Section 6.4 shall be payable only upon the first achievement of such milestone, and no amounts shall be due for subsequent or repeated achievements of such milestone in subsequent Calendar Years. 

6.5 Additional Regulatory Milestones. In partial consideration of the rights granted by Galapagos to Abbott hereunder for the
Follow-On Compounds (not substituted as the Lead Compound) and subject to the terms and conditions set forth in this Agreement, Abbott shall pay to Galapagos a milestone payment within [...***...] ([...***...]) days after the achievement
of each of the following milestones, calculated as follows: 
 6.5.1 [...***...], [...***...] Dollars
($[...***...]); and 
 6.5.2 [...***...], [...***...] Dollars ($[...***...]). 

6.5.3 Each milestone payment in this Section 6.5 shall be payable only upon the first achievement of such
milestone and no amounts shall be due for subsequent or repeated achievements of such milestone, whether for the same or a different Licensed Compound or Licensed Product. 

6.6 Royalties. 

6.6.1 Royalty Rates for Licensed Product Containing the Lead Compound or Follow-On Compound. As further consideration
for the rights granted to Abbott hereunder, subject to Sections 6.6.4 and 6.6.2, commencing upon the First Commercial Sale of a Licensed Product containing the Lead Compound in the Royalty Territory, on a Licensed Product-by-Licensed Product basis,
Abbott shall pay to Galapagos a royalty on Net Sales of each Licensed Product containing the Lead Compound or any Follow-On Compound sold in the Royalty Territory (excluding Net Sales of each such Licensed Product containing the Lead Compound sold
in any country or other jurisdiction in the Royalty Territory for which the Royalty Term for such Licensed Product containing the Lead Compound sold in such country or other jurisdiction has expired) during each Calendar Year at the following rates:

  
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	Net Sales in the Royalty Territory of each Licensed Product containing the Lead Compound or Follow-On Compound in a Calendar Year		Royalty Rate
		
	 [...***...]
		[...***...]
		
	 [...***...]
		[...***...]
		
	 [...***...]
		[...***...]
		
	 [...***...]
		[...***...]
		
	 [...***...]
		[...***...]

 6.6.2 Notwithstanding the foregoing, if Galapagos exercises the Co-Promotion Option,
any amount of Net Sales attributable to sales of the Co-Promotion Products (if any) in the Co-Promotion Territory during the Co-Promotion Period shall be excluded from aggregate Net Sales for purposes of this Section 6.6 and such sales shall
not be subject to a royalty under this Section 6.6. With respect to each Licensed Product in each country or other jurisdiction in the Royalty Territory, from and after the expiration of the Royalty Term for such Licensed Product that is sold
in such country or other jurisdiction, Net Sales of such Licensed Product in such country or other jurisdiction shall be excluded for purposes of calculating the Net Sales thresholds and ceilings set forth in this Section 6.6. 

6.6.3 Royalty Term. Abbott shall have no obligation to pay any royalty with respect to Net Sales of any Licensed
Product in any country or other jurisdiction after the Royalty Term for such Licensed Product that is sold in such country or other jurisdiction has expired. 

6.6.4 Reductions. Notwithstanding the foregoing: 

(i) If in any country or other jurisdiction in the Royalty Territory during the Royalty Term for a Licensed Product there is
Generic Competition resulting in [...***...]; 
 (ii) Abbott shall be entitled to deduct from any royalties payable
hereunder [...***...] percent ([...***...]%) of all Third Party Payments, provided that royalties shall not be reduced to less than [...***...] percent ([...***...]%) of the royalties due under Section 6.6.1; and 

(iii) If a court or a governmental agency of competent jurisdiction requires Abbott or any of its Affiliates or Sublicensees
to grant a compulsory license to a Third Party permitting such Third Party to make and sell a Licensed Product in a country or other jurisdiction in the Royalty Territory, then, for the purposes of calculating the royalties payable with respect to
such Licensed Product under Sections 6.6.1 and 6.6.2, [...***...]; 
 (iv) If, and in such case from and after the
date on which, a Licensed Product is Exploited in a country or other jurisdiction and the making, using, offer for sale, or sale of such Licensed Product sold in such country or other jurisdiction is not covered by a Valid Claim of a Galapagos
Patent, then the royalty rates set forth in Sections 6.6.1 and 6.6.2 with respect to such sales of License Product in such country or other jurisdiction (for purposes of calculations under Sections 6.6.1 and 6.6.2), each shall be reduced by
[...***...] percent ([...***...]%); 

  
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 (v) Abbott shall have the right to deduct costs in accordance with
Section 7.2.1. 
 In no case shall any deductions allowable under this Section 6.6.4, alone or cumulatively, reduce the royalties paid to
Galapagos by more than [...***...] per cent ([...***...]%) of the royalties due under Section 6.6.1. 
 6.7 Royalty
Payments and Reports. Abbott shall calculate all amounts payable to Galapagos pursuant to Section 6.6 at the end of each Calendar Quarter, which amounts shall be converted to Dollars, in accordance with Section 6.11. Abbott shall pay
to Galapagos the royalty amounts due with respect to a given Calendar Quarter within [...***...] ([...***...]) days after the end of such Calendar Quarter. Each payment of royalties due to Galapagos shall be accompanied by a statement of
the amount of Net Sales of each Licensed Product in each country or other jurisdiction of the Royalty Territory during the applicable Calendar Quarter (including such amounts expressed in local currency and as converted to Dollars) and a calculation
of the amount of royalty payment due on such Net Sales for such Calendar Quarter. 
 6.8 [...***...]. 

6.9 Profit or Loss in the Co-Promotion Territory. If Galapagos exercises a Co-Promotion Option with respect to a Licensed Product in
the Co-Promotion Territory, the terms and conditions of this Section 6.9 shall govern each Party’s rights and obligations with respect to Net Profits and Net Losses relating to such Licensed Product. 

6.9.1 In General. Subject to Sections 4.9 and 6.10, (i) Galapagos shall receive [...***...] of all Net
Profits, and bear [...***...] of all Net Losses, as applicable, with respect to the Co-Promotion Products in the Co-Promotion Territory, and (ii) Abbott shall receive [...***...] of all Net
Profits, and bear [...***...] of all Net Losses, as applicable, with respect to the Co-Promotion Products in the Co-Promotion Territory. Galapagos shall bear its share of the Net Profits and Net Losses
with respect to the Co-Promotion Products regardless of the date of its exercise of the Co-Promotion Option with respect to such Licensed Product only during the Co-Promotion Period with respect to such Licensed Product. 

6.10 Calculation and Payment of Net Profit or Net Loss Share. 

6.10.1 Reports and Payments in General. If Galapagos exercises its Co-Promotion Option with respect to a Co-Promotion
Product, each Party shall report to the other Party, within [...***...] ([...***...]) days after the end of each Calendar Quarter following such exercise, with regard to Net Sales and Allowable Expenses incurred by such Party for such
Co-Promotion Product during such Calendar Quarter in the Co-Promotion Territory in a manner sufficient to enable the other Party to comply with its reporting requirements; provided that in the case of the first Calendar Quarter for which such
report is due, each Party shall additionally report all Allowable Expenses incurred by such Party prior to such Calendar Quarter with respect to such Co-Promotion Product. Such report shall specify in reasonable detail all deductions allowed in the
calculation of such Net Sales and all expenses included in Allowable Expenses. Within [...***...] ([...***...]) days after the end of each Calendar Quarter (or for the last Calendar Quarter in a Calendar Year, [...***...]

  
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([...***...]) days after the end of such Calendar Quarter), the Parties shall reconcile all Net Sales and Allowable Expenses to ascertain whether there is a Net Profit or Net Loss and
payments shall be made as set forth in subsections (i) and (ii) below, as applicable. 
 (i) If there is a Net
Profit for such Calendar Quarter, then Abbott shall reimburse Galapagos for Allowable Expenses incurred by Galapagos in such Calendar Quarter and shall pay to Galapagos, an amount equal to [...***...] percent ([...***...]%) of the Net
Profit for such Calendar Quarter within [...***...] ([...***...]) days after the end of each Calendar Quarter; or 

(ii) If there is a Net Loss for such Calendar Quarter, then the Party that has borne less than its share of the Allowable
Expenses in such Calendar Quarter shall make a reconciling payment to the other Party within [...***...] ([...***...]) days after the end of each Calendar Quarter to assure that each Party bears its share of such Allowable Expenses
during such Calendar Quarter. 
 A sample calculation for determining the Net Profits and Net Losses is attached hereto as Schedule
6.10.1. 
 6.10.2 Last Calendar Quarter. No separate payment shall be made for the last Calendar Quarter in any
Calendar Year. Instead, at the end of each such Calendar Year, a final reconciliation shall be conducted by comparing the share of Net Profit or Net Loss to which a Party is otherwise entitled for such Calendar Year pursuant to Sections 6.9 and
6.10.1 against the sum of all amounts (if any) previously paid or retained by such Party for prior Calendar Quarters during such Calendar Year, and the Parties shall make reconciling payments to one another no later than [...***...]
([...***...]) days after the end of such Calendar Quarter, if and as necessary to ensure that each Party receives for such Calendar Year its share of Net Profits and bears its share of Net Losses in accordance with Section 6.9. 

6.10.3 FTE Records and Calculations. Each Party shall calculate and maintain records of FTE effort incurred by it in
the same manner as used for other products developed by such Party, unless instructed by the JCC to employ other procedures, in which case such other procedures shall be applied equally to both Parties. 

6.11 Mode of Payment; Offsets. All payments to either Party under this Agreement shall be made by electronic transfer of Dollars in
the requisite amount to such bank account as the receiving Party may from time to time designate by notice to the paying Party. For the purpose of calculating any sums due under, or otherwise reimbursable pursuant to, this Agreement (including the
calculation of Net Sales expressed in currencies other than Dollars), a Party shall convert any amount expressed in a foreign currency into Dollar equivalents using its, its Affiliate’s or Sublicensee’s standard conversion methodology
consistent with Accounting Standards. Such standard conversion methodology shall be based upon the Monthly Average Exchange Rate. “Monthly Average Exchange Rate” means the simple average of prior month-end Exchange Rate and current
month-end Exchange Rate based on 9:00 AM Central Time Bloomberg screen on the penultimate Business Day of the corresponding month, and “Exchange Rate” means, with respect to a Business Day, the spot bid rate for X currencies and
spot ask rate for non-X currencies for the conversion of the applicable country’s or other jurisdiction’s currency to Dollars as reported at 9:00 AM Central Time Bloomberg screen on the penultimate Business Day. Abbott shall have the right
to offset any expense that is owed by Galapagos, if any, but not paid for more than [...***...] ([...***...]) days after its due date against any payments owed by Abbott, if any, under this Agreement. 

  
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 6.12 Accounting Procedures. For purposes of determining Allowable Expenses, any expense
allocated by either Party to a particular expense category of Allowable Expenses shall not also be allocated to another category under Allowable Expenses. Each Party shall determine Allowable Expenses consistent with applicable Accounting Standards,
consistently applied, to the maximum extent practicable as if the Licensed Compound or Licensed Product were a solely-owned product of the Party. Each Party shall have the right to audit the other Party’s records to confirm the accuracy of the
other Party’s costs and reports as provided in Section 6.17. Transfers between a Party and its Affiliates (or between such Affiliates) shall not have any effect for purposes of calculating Allowable Expenses, or other payments or expenses
under this Agreement. 
 6.13 Withholding Taxes. Where any sum due to be paid to either Party hereunder is subject to
any withholding or similar tax, the Parties shall use their Commercially Reasonable Efforts to do all such acts and things and to sign all such documents as will enable them to take advantage of any applicable double taxation agreement or treaty. If
there is no applicable double taxation agreement or treaty, or if an applicable double taxation agreement or treaty reduces but does not eliminate such withholding or similar tax, the payor shall pay such withholding or similar tax to the
appropriate government authority, deduct the amount paid from the amount due to payee and secure and send to payee the best available evidence of such payment. 

6.14 No Other Compensation. Each Party hereby agrees that the terms of this Agreement fully define all consideration,
compensation and benefits, monetary or otherwise, to be paid, granted or delivered by one Party to the other Party in connection with the transactions contemplated herein. Neither Party previously has paid or entered into any other commitment to
pay, whether orally or in writing, any of the other Party’s employees, directly or indirectly, any consideration, compensation or benefits, monetary or otherwise, in connection with the transaction contemplated herein. 

6.15 Interest on Late Payments. If any payment due to either Party under this Agreement is not paid when due, then such paying Party
shall pay interest thereon (before and after any judgment) at an annual rate (but with interest accruing on a daily basis) of [...***...] ([...***...]) basis points above EURIBOR, such interest to run from the date on which payment of
such sum became due until payment thereof in full together with such interest. 
 6.16 Financial Records. Each Party shall, and
shall cause its Affiliates to, keep complete and accurate books and records pertaining to Net Sales of Licensed Products and Net Profits and Net Losses with respect to the Co-Promotion Products during the Co-Promotion Period (including Allowable
Expenses), as applicable, and Development of the Licensed Compounds or Licensed Products, including books and records of actual expenditures with respect to the budgets set forth in each Development Plan and Budget, in sufficient detail to calculate
all amounts payable hereunder and to verify compliance with its obligations under this Agreement. Such books and records shall be retained by such Party and its Affiliates until the later of (i) [...***...] ([...***...]) years after
the end of the period to which such books and records pertain, and (ii) the expiration of the applicable tax statute of limitations (or any extensions thereof), or for such longer period as may be required by Applicable Law. 

  
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 6.17 Audit. At the request of the other Party, each Party shall, and shall cause its
Affiliates to, permit an independent public accounting firm of nationally recognized standing designated by the other Party and reasonably acceptable to the audited Party, at reasonable times during normal business hours and upon reasonable notice,
to audit the books and records maintained pursuant to Section 6.16 to ensure the accuracy of all reports and payments made hereunder. Such examinations may not (i) be conducted for any Calendar Quarter more than [...***...]
([...***...]) years after the end of such quarter, (ii) be conducted more than once in any twelve (12)-month period (unless a previous audit during such twelve (12)-month period revealed an underpayment with respect to such period) or
(iii) be repeated for any Calendar Quarter. The accounting firm shall disclose only whether the reports are correct or not, and the specific details concerning any discrepancies. No other information shall be shared. Except as provided below,
the cost of this audit shall be borne by the auditing Party, unless the audit reveals a variance of more than [...***...] percent ([...***...]%) from the reported amounts, in which case the audited Party shall bear the cost of the audit.
Unless disputed pursuant to Section 6.18 below, if such audit concludes that (x) additional amounts were owed by the audited Party, the audited Party shall pay the additional amounts, with interest from the date originally due, or
(y) excess payments were made by the audited Party, the auditing Party shall reimburse such excess payments, in either case ((x) or (y)), within [...***...] ([...***...]) days after the date on which such audit is completed by the
auditing Party. 
 6.18 Audit Dispute. In the event of a dispute with respect to any audit under Section 6.17, Galapagos and
Abbott shall work in good faith to resolve the disagreement. If the Parties are unable to reach a mutually acceptable resolution of any such dispute within [...***...] ([...***...]) days, the dispute shall be submitted for resolution to
a certified public accounting firm jointly selected by each Party’s certified public accountants or to such other Person as the Parties shall mutually agree (the “Audit Arbitrator”). Abbott and Galapagos shall enter into an
engagement letter with the Audit Arbitrator and shall provide all books and records necessary to permit the Audit Arbitrator to reach its conclusion. The decision of the Audit Arbitrator shall be final and the costs of such arbitration as well as
the initial audit shall be borne between the Parties in such manner as the Audit Arbitrator shall determine. Not later than [...***...] ([...***...]) days after such decision and in accordance with such decision, the audited Party shall
pay the additional amounts or the auditing Party shall reimburse the excess payments, as applicable. 
 6.19 Confidentiality. The
receiving Party shall treat all information subject to review under this Article 6 in accordance with the confidentiality provisions of Article 9 and the Parties shall cause the Audit Arbitrator to enter into a reasonably acceptable
confidentiality agreement with the audited Party obligating such firm to retain all such financial information in confidence pursuant to such confidentiality agreement. 

6.20 Diagnostic or Veterinary Products. The regulatory milestones and sales-based milestones in Sections 6.3 through 6.5 shall not
apply to Development and Commercialization of Licensed Compounds or Licensed Products for diagnostic or veterinary use, or for uses solely for screening patients who have been diagnosed with a disease, state, or condition for eligibility to be
treated for such disease, state, or condition with a Licensed Compound or Licensed Product or for monitoring patients who are or have been treated with a Licensed Compound or Licensed Product. If a Licensed Compound or Licensed Product is Developed
for any such diagnostic and/or veterinary purposes, the royalties specified in Section 6.6, for the sale of such Licensed Product shall be [...***...] per cent ([...***...]%). 

  
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 ARTICLE 7 

INTELLECTUAL PROPERTY 

7.1 Ownership of Intellectual Property. 

7.1.1 Ownership of Technology. Subject to Section 3.7.1(ii) and Section 7.1.2, as between the Parties, each
Party shall own and retain all right, title, and interest in and to any and all (i) Information discovered and/or developed, and inventions, whether or not patentable, conceived, or made by Persons obligated to assign their rights therein to
such Party (or its Affiliates or sublicensees), under or in connection with this Agreement, and any and all Patent and other intellectual property rights with respect thereto, except to the extent that such comprises Joint Know-How or Joint Patents,
and (ii) other Information, inventions, Patents, and other intellectual property rights that are owned or otherwise Controlled (other than pursuant to the license grants set forth in Sections 5.2 and 5.4) by such Party, its Affiliates or
its licensees or sublicensees. 
 7.1.2 Ownership of Joint Patents and Joint Know-How. Subject to
Section 3.7.1(ii), as between the Parties, the Parties shall each own an equal, undivided interest in any and all (i) Information discovered and/or developed by or on behalf of either Party or its Affiliates or sublicensees in
connection with the work conducted under or in connection with (1) Initial Development Activities or (2) jointly by or on behalf of Galapagos or its Affiliates or sublicensees, on the one hand, and Abbott or its Affiliates or Sublicensees,
on the other hand, in connection with the work conducted under or in connection with this Agreement, (the “Joint Know-How”), and (ii) inventions, conceived, or made by jointly by one or more inventor(s) obligated to assign
their rights therein to Galapagos and one or more inventor(s) obligated to assign their rights therein to Abbott (or their Affiliates or Sublicensees), and Patents claiming such inventions (the “Joint Patents”); wherein the
Information and inventions described in clauses (i) and (ii) (together with Joint Know-How and Joint Patents, the “Joint Intellectual Property Rights”). Each Party shall promptly disclose to the other Party in writing, and
shall cause its Affiliates, licensees and sublicensees to so disclose, the development, making, conception or reduction to practice of any Joint Know-How or Joint Patents. Subject to the licenses and rights of reference granted under
Section 5.2 and the Parties’ respective, in the case of Galapagos, its exclusivity obligations hereunder, each Party shall have the right to Exploit the Joint Intellectual Property Rights without a duty of seeking consent or accounting to
the other Party. 
 7.1.3 United States Law. The determination of whether inventions are conceived or made by or on
behalf of a Party for the purpose of allocating proprietary rights therein, shall, for purposes of this Agreement, be made in accordance with Applicable Law in the United States as such law exists as of the Effective Date irrespective of where such
conception, or making occurs. 
 7.1.4 Assignment Obligation. Each Party shall cause all Persons who perform
Development activities, Manufacturing activities or regulatory activities for such Party under this Agreement to be under an obligation to assign (or, if such Party is unable to cause such Person to agree to such assignment obligation despite such
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Commercially Reasonable Efforts to negotiate such assignment obligation, provide a license under) their rights in any Information and inventions to such Party, except where Applicable Law
requires otherwise and except in the case of governmental, not-for-profit and public institutions which have standard policies against such an assignment (in which case a suitable license, or right to obtain such a license, shall be obtained). 

7.1.5 Ownership of Galapagos Corporate Names. As between the Parties, Galapagos shall retain all right, title and
interest in and to Galapagos Corporate Names. 
 7.2 Maintenance and Prosecution of Patents. 

7.2.1 Patent Prosecution and Maintenance of Galapagos Patents. In consultation with Abbott, Galapagos shall have the
right, but not the obligation, through the use of internal or outside counsel reasonably acceptable to Abbott, to prepare, file, prosecute, and maintain the Galapagos Patents worldwide, at Galapagos’s sole cost and expense (except to the extent
any such cost or expense constitutes an Allowable Expense). Galapagos shall keep Abbott fully informed of all steps with regard to the preparation, filing, prosecution, and maintenance of Galapagos Patents in the Territory, including by providing
Abbott with a copy of material communications to and from any patent authority regarding such Galapagos Patents, and by providing Abbott drafts of any material filings or responses to be made to such patent authorities sufficiently in advance of
submitting such filings or responses so as to allow for a reasonable opportunity for Abbott to review and comment thereon. Galapagos shall consider in good faith the requests and suggestions of Abbott with respect to such Galapagos drafts and with
respect to strategies for filing and prosecuting the Galapagos Patents in the Territory. Notwithstanding the foregoing, Galapagos shall promptly inform Abbott of any adversarial patent office proceeding or sua sponte filing, including a request for,
or filing of or declaration of, any interference, opposition, third party observation, derivation proceeding, post grant review, supplementary examination, reissue or inter parte or ex parte reexamination relating to a Galapagos Patent in the
Territory. The Parties shall thereafter consult and cooperate to determine a course of action with respect to any such proceeding in the Territory and Galapagos shall consider in good faith all comments, requests and suggestions provided by Abbott.
Galapagos shall not initiate any such adversarial patent office proceeding relating to a Galapagos Patent in the Territory without first consulting Abbott. If Galapagos decides not to prepare, file, prosecute, or maintain a Galapagos Patent in a
country or other jurisdiction in the Territory, Galapagos shall provide reasonable prior written notice to Abbott of such intention (which notice shall, in any event, be given no later than [...***...] ([...***...]) days (or the earliest
reasonable date if the applicable deadline is shorter than [...***...] ([...***...]) days) prior to the next deadline for any action that may be taken with respect to such Galapagos Patent in such country or other jurisdiction), Abbott
shall thereupon have the option, in its sole discretion, to assume the control and direction of the preparation, filing, prosecution, and maintenance of such Galapagos Patent at its expense in such country or other jurisdiction (except to the extent
any such cost or expense constitutes an Allowable Expense); provided, however, that Abbott shall have the right to offset up to [...***...] percent ([...***...]%) of such expense borne by Abbott (and not included as an Allowable
Expense) against any amounts owed to Galapagos under this Agreement in a given Calendar Quarter from sales-based milestones due to Galapagos pursuant to Section 6.4.1 and royalties due to Galapagos pursuant to Section 6.6.1 for such
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with any balance then remaining to be carried over to subsequent Calendar Quarters and applied against such sales-based milestones and royalties due with respect to such subsequent Calendar
Quarters, up to a maximum amount for each Calendar Quarter of [...***...] percent ([...***...]%) of the amounts owed in respect of such subsequent Calendar Quarter. Upon Abbott’s written acceptance of such option, Abbott shall
assume the responsibility and control for the preparation, filing, prosecution, and maintenance of such specific Galapagos Patent. Galapagos shall reasonably cooperate with Abbott in such country or other jurisdiction as provided under Section
7.2.3. 
 7.2.2 Patent Prosecution and Maintenance of Abbott Patents and Joint Patents. Abbott shall have the right,
but not the obligation, to prepare, file, prosecute, and maintain the Abbott Patents and the Joint Patents worldwide, at Abbott’s sole cost and expense (except to the extent any such cost or expense constitutes an Allowable Expense). Abbott
shall keep Galapagos fully informed of all steps with regard to the preparation, filing, prosecution, and maintenance of Abbott Patents and Joint Patents, including by providing Galapagos with a copy of material communications to and from any patent
authority in the Territory regarding such Abbott Patents or Joint Patents, and by providing Galapagos drafts of any material filings or responses to be made to such patent authorities in the Territory sufficiently in advance of submitting such
filings or responses so as to allow for a reasonable opportunity for Galapagos to review and comment thereon. Abbott shall consider in good faith the requests and suggestions of Galapagos with respect to such Abbott drafts and with respect to
strategies for filing and prosecuting the Abbott Patents and the Joint Patents in the Territory. If Abbott decides not to prepare, file, prosecute, or maintain an Abbott Patent or a Joint Patent in a country or other jurisdiction in the Territory,
Abbott shall provide reasonable prior written notice to Galapagos of such intention (which notice shall, in any event, be given no later than [...***...] ([...***...]) days prior to the next deadline for any action that may be taken with
respect to such Abbott Patent or Joint Patent in such country or other jurisdiction, or the earliest reasonable date if the applicable deadline is shorter than [...***...] ([...***...]) days), and Galapagos shall thereupon have the
option, in its sole discretion, to assume the control and direction of the preparation, filing, prosecution, and maintenance of such Abbott Patent or Joint Patent at its expense in such country or other jurisdiction. Upon Galapagos’ written
acceptance of such option, Galapagos shall assume the responsibility and control for the preparation, filing, prosecution, and maintenance of such specific Joint Patent. In such event, Abbott shall reasonably cooperate with Galapagos in such country
or other jurisdiction as provided under Section 7.2.3. 
 7.2.3 Cooperation. The Parties agree to cooperate fully in
the preparation, filing, prosecution, and maintenance of the Galapagos Patents, Abbott Patents, and Joint Patents in the Territory under this Agreement. Cooperation shall include: 

(i) executing all papers and instruments, or requiring its employees or contractors to execute such papers and instruments, so
as to (A) effectuate the ownership of intellectual property set forth in Section 7.1.1 and 7.1.2; (B) enable the other Party to apply for and to prosecute Patent applications in the Territory; and (C) obtain and maintain any
Patent extensions, supplementary protection certificates, and the like with respect to the Galapagos Patents, Abbott Patents, and Joint Patents in the Territory, in each case ((A), (B), and (C)) to the extent provided for in this Agreement; 

  
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 (ii) consistent with this Agreement, assisting in any license registration
processes with applicable governmental authorities that may be available in the Territory for the protection of a Party’s interests in this Agreement; and 

(iii) promptly informing the other Party of any matters coming to such Party’s attention that may materially affect the
preparation, filing, prosecution, or maintenance of any such Galapagos Patents, Abbott Patents, or Joint Patents in the Territory. 

7.2.4 Patent Term Extension and Supplementary Protection Certificate. 

(i) Except as provided in Section 7.2.4(ii), Abbott shall be responsible for making decisions regarding patent term
extensions, including supplementary protection certificates and any other extensions that are now or become available in the future, wherever applicable, for Galapagos Patents, Abbott Patents, and any Joint Patents in any country or other
jurisdiction, provided that any Dispute with respect thereto shall be finally and definitively resolved by Abbott. 

(ii) If Abbott elects to extend the Owned Genus Patent under Section 7.2.4(i), Abbott shall promptly notify Galapagos of
its election and Galapagos shall promptly provide Abbott written confirmation whether the Owned Genus Patent has reverted to an Owned Species Patent under Section 10.2.3. If the Owned Genus Patent has not reverted to an Owned Species Patent
then Galapagos shall be responsible for making decisions regarding patent term extensions, including supplementary protection certificates and any other extensions that are now or become available in the future for the Owned Genus Patents. 

(iii) Abbott shall have the responsibility of applying for any extension or supplementary protection certificate with respect
to such Patents in the Territory. Abbott shall keep Galapagos fully informed of its efforts to obtain such extension or supplementary protection certificate. Galapagos shall provide prompt and reasonable assistance, as requested by Abbott, including
by taking such action as patent holder as is required under any Applicable Law to obtain such patent extension or supplementary protection certificate. 

(iv) Abbott shall pay all expenses in regard to obtaining the extension or supplementary protection certificate in the
Territory (except to the extent any such expense constitutes an Allowable Expense). 
 7.2.5 CREATE Act.
Notwithstanding anything to the contrary in this Article 7, neither Party shall have the right to make an election under the Cooperative Research and Technology Enhancement Act of 2004, 35 U.S.C. 103(c)(2)-(c)(3) (the “CREATE Act”)
when exercising its rights under this Article 7 without the prior written consent of the other Party. With respect to any such permitted election, the Parties shall coordinate their activities with respect to any submissions, filings, or other
activities in support thereof. The Parties acknowledge and agree that this Agreement is a “joint research agreement” as defined in the CREATE Act. 

7.2.6 Patent Listings. Abbott shall have the sole right to make all filings with Regulatory Authorities in the
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Patents, and Joint Patents, including as required or allowed (i) in the United States, in the FDA’s Orange Book, and (ii) outside the United States, under the national
implementations of Article 10.1(a)(iii) of Directive 2001/EC/83 or other international equivalents. Galapagos shall (A) provide to Abbott a correct and complete list of Galapagos Patents covering any Licensed Product, or otherwise necessary or
reasonably useful, to enable Abbott to make such filings with Regulatory Authorities in the Territory with respect to such Patents, and (B) cooperate with Abbott’s reasonable requests in connection therewith, including meeting any
submission deadlines, in each case ((A) and (B)), to the extent required or permitted by Applicable Law. 
 7.3 Enforcement of
Patents. 
 7.3.1 Enforcement of Galapagos Patents and Joint Patents. Each Party shall promptly notify the other
Party in writing of any alleged or threatened infringement of the Galapagos Patents or Joint Patents by a Third Party in the Territory of which such Party becomes aware (including alleged or threatened infringement based on the development,
commercialization, or an application to market a product containing a Licensed Compound or any Licensed Product in the Territory (the “Third Party Infringement”)). Abbott shall have the first right, but not the obligation, to abate
any Third Party Infringement in the Territory (the “Abbott Prosecuted Infringements”) at its sole expense (except to the extent any such expense constitutes an Allowable Expense) by litigation or otherwise and Abbott shall retain
control of the prosecution of such proceeding. If Abbott prosecutes any Abbott Prosecuted Infringement, Galapagos shall have the right to join as a party to such claim, suit, or proceeding in the Territory and participate with its own counsel at its
own expense; provided that Abbott shall retain control of the prosecution of such claim, suit, or proceeding. During any such claim, suit, or proceeding, Abbott shall: (i) provide Galapagos with drafts of all official papers and
statements (whether written or oral) prior to their submission in such claim, suit, or proceeding, in sufficient time to allow Galapagos to review, consider and substantively comment thereon; (ii) reasonably consider taking action to
incorporate Galapagos comments on all such official papers and statements; and (iii) allow Galapagos the opportunity to participate in the preparation of witnesses and other participants in such claim, suit, or proceeding. If Abbott does not
take commercially reasonable steps to prosecute an Abbott Prosecuted Infringement (A) within [...***...] ([...***...]) days following the first notice provided above with respect to the Abbott Prosecuted Infringement, or
(B) provided such date occurs after the first such notice of the Abbott Prosecuted Infringement is provided, [...***...] ([...***...]) Business Days before the time limit, if any, set forth in appropriate laws and regulations for
filing of such actions, whichever comes first, then Galapagos may prosecute the Abbott Prosecuted Infringement at its own expense. 

7.3.2 Enforcement of Abbott Patents. Each Party shall promptly notify the other Party in writing of any alleged or
threatened infringement of the Abbott Patents by a Third Party in the Territory of which such Party becomes aware (including alleged or threatened infringement based on the development, commercialization, or an application to market a product
containing a Licensed Compound or any Licensed Product in the Territory). Abbott shall have the first right, but not the obligation, to abate any such infringement in the Territory at its sole expense (except to the extent any such expense
constitutes an Allowable Expense) by litigation or otherwise and Abbott shall retain control of the prosecution of such proceeding. If Abbott prosecutes any such infringement, Galapagos shall have the right to

  
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join as a party to such claim, suit or proceeding in the Territory and participate with its own counsel at its own expense; provided that Abbott shall retain control of the prosecution of
such claim, suit or proceeding. If Abbott does not take commercially reasonable steps to prosecute the alleged or threatened infringement in the Territory with respect to such Abbott Patents (i) within [...***...] ([...***...]) days
following the first notice provided above with respect to such alleged infringement, or (ii) provided such date occurs after the first such notice of infringement is provided, [...***...] ([...***...]) Business Days before the time
limit, if any, set forth in appropriate laws and regulations for filing of such actions, whichever comes first, then Galapagos may prosecute the alleged or threatened infringement in the Territory at its own expense. 

7.3.3 Generic Competition. Notwithstanding the foregoing, if either Party (i) reasonably believes that a Third
Party may be filing or preparing or seeking to file a generic or abridged Drug Approval Application that refers or relies on Regulatory Documentation submitted by either Party to any Regulatory Authority, whether or not such filing may infringe the
Galapagos Patents; (ii) receives any notice of certification regarding the Galapagos Patents or the Joint Patents pursuant to the U.S. “Drug Price Competition and Patent Term Restoration Act” of 1984 (21 United States Code
§355(b)(2)(A)(iv) or (j)(2)(A)(vii)(IV)) (“ANDA Act”) claiming that any such Patents are invalid or unenforceable or claiming that any such Patents will not be infringed by the Manufacture, use, marketing or sale of a product
for which an application under the ANDA Act is filed; or (iii) receives any equivalent or similar certification or notice in any other jurisdiction, it shall (A) notify the other Party in writing identifying the alleged applicant or
potential applicant and furnishing the information upon which determination is based and (B) provide with a copy of any such notice of certification within [...***...] ([...***...]) days of the date of receipt and the Parties’
rights and obligations with respect to any legal action as a result of such certification shall be as set forth in Section 7.3.1, 7.3.2, or 7.3.4, as applicable; provided, however, that if Abbott elects not to bring suit against the
Third Party providing notice of such certification within [...***...] ([...***...]) days of receipt of such notice, Galapagos shall have the right, but shall not be obligated, to bring suit against such Third Party and to join Abbott as
a party plaintiff if necessary to bring such a suit, in which event Galapagos shall hold Abbott harmless from and against any and all costs and expenses of such litigation, including reasonable attorneys’ fees and expenses. 

7.3.4 Cooperation. The Parties agree to cooperate fully in any infringement action pursuant to this Section 7.3.
Where a Party brings such an action, the other Party shall, where necessary, furnish a power of attorney solely for such purpose or shall join in, or be named as a necessary party to, such action. Unless otherwise set forth herein, the Party
entitled to bring any patent infringement litigation in accordance with this Section 7.3 shall have the right to settle such claim; provided that neither Party shall have the right to settle any patent infringement litigation under this
Section 7.3 in a manner that diminishes or has a material adverse effect on the rights or interest of the other Party, or in a manner that imposes any costs or liability on, or involves any admission by, the other Party, without the express
written consent of such other Party. The Party commencing the litigation shall provide the other Party with copies of all pleadings and other documents filed with the court and shall consider reasonable input from the other Party during the course
of the proceedings. 

  
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 7.3.5 Recovery. Except as otherwise agreed by the Parties by way of a
cost-sharing arrangement, any recovery realized as a result of litigation described in Sections 7.3.1, 7.3.2, 7.3.3, or 7.3.4 (whether by way of settlement or otherwise) shall be first, allocated to reimburse the Parties for their costs and expenses
in making such recovery (which amounts shall be allocated pro rata if insufficient to cover the totality of such expenses). Any remainder after such reimbursement is made shall be retained by the Party that has exercised its right to bring
the enforcement action; provided, however, that to the extent that any award or settlement (whether by judgment or otherwise) is attributable to reasonable royalty or loss of sales with respect to a Licensed Product, the Parties shall
negotiate in good faith an appropriate allocation of such remainder to reflect the economic interests of the Parties under this Agreement with respect to such Licensed Product. 

7.4 Infringement Claims by Third Parties. If the manufacture, sale, or use of a Licensed Compound or Licensed Product in the Territory
pursuant to this Agreement results in, or may result in, any claim, suit, or proceeding by a Third Party alleging patent infringement by Abbott (or its Affiliates or Sublicensees), Abbott shall promptly notify Galapagos thereof in writing. Abbott
shall defend and control the defense of any such claim, suit, or proceeding at its own expense (except to the extent any such expense constitutes an Allowable Expense), using counsel of its own choice. Galapagos may participate in any such claim,
suit, or proceeding with counsel of its choice at its own expense. Without limitation of the foregoing, if Abbott finds it necessary or desirable to join Galapagos as a party to any such action, Galapagos shall execute all papers and perform such
acts as shall be reasonably required at Abbott’s expense. Each Party shall keep the other Party reasonably informed of all material developments in connection with any such claim, suit, or proceeding. Unless otherwise set forth herein, Abbott
shall have the right to settle such claim; provided that Abbott shall not settle any litigation under this Section 7.4 in a manner that diminishes or has a material adverse effect on the rights or interest of Galapagos, or in a manner that
imposes any costs or liability on, or involves any admission by, Galapagos, without their express written consent. Each Party agrees to provide the other Party with copies of all pleadings filed in such action and to allow the other Party reasonable
opportunity to participate in the defense of the claims. Abbott shall be entitled to deduct [...***...] percent ([...***...]%) of the reasonable out-of-pocket attorney’s fees and court costs borne by Abbott and not included as an
Allowable Expense of defending such claim, suit, or proceeding brought by a Third Party alleging that a Licensed Compound and/or the Manufacturing Process (which Manufacturing Process Abbott has not modified in any substantial part pertinent to the
asserted claims in said proceeding) infringe one or more patents Controlled by the Third Party. Such deduction shall be applied in a given Calendar Quarter from sales-based milestones and to the extent not exhausted within an [...***...]
([...***...]) month period, may be deducted from royalties due to Galapagos pursuant to Section 6.4.1 or 6.6. Any recoveries by Abbott of any sanctions awarded to Abbott and against a party asserting a claim being defended under this
Section 7.4 shall be applied as follows: such recovery shall be applied first to (i) reimburse Abbott for its reasonable out-of-pocket costs of defending such claim, suit, or proceedings to the extent not deducted from sales-based
milestones pursuant to the previous sentence, and (ii) reimburse Galapagos for sales-based milestones deductions pursuant to the previous sentence. The balance of any such recoveries shall be retained or provided to Abbott and included in
calculation of Net Sales for the relevant Licensed Product. 

  
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 7.5 Invalidity or Unenforceability Defenses or Actions. 

7.5.1 Notice. Each Party shall promptly notify the other Party in writing of any alleged or threatened assertion of
invalidity or unenforceability of any of the Galapagos Patents, Abbott Patents, or Joint Patents by a Third Party, in each case in the Territory and of which such Party becomes aware. 

7.5.2 Galapagos Patents. 

(i) Abbott shall have the first right, but not the obligation, to defend and control the defense of the validity and
enforceability of the Galapagos Owned Species Patents at its own expense (except to the extent any such expense constitutes an Allowable Expense) in the Territory. Galapagos may participate in any such claim, suit, or proceeding in the Territory
with counsel of its choice at its own expense; provided that Abbott shall retain control of the defense in such claim, suit, or proceeding. If Abbott elects not to defend or control the defense of the Galapagos Owned Species Patents in a suit
brought in the Territory, or otherwise fails to initiate and maintain the defense of any such claim, suit, or proceeding, then Galapagos may conduct and control the defense of any such claim, suit, or proceeding at its own expense. 

(ii) Galapagos shall have the first right, but not the obligation, to defend and control the defense of the validity and
enforceability of the Galapagos Owned Genus Patents at its own expense, only when the validity and enforceability actions are not related to Third Party Infringement (except to the extent any such expense constitutes an Allowable Expense) in the
Territory. Abbott may participate in any such claim, suit, or proceeding in the Territory with counsel of its choice at its own expense; provided that Galapagos shall retain control of the defense in such claim, suit, or proceeding. If
Galapagos elects not to defend or control the defense of the Galapagos Owned Genus Patents in a suit brought in the Territory, or otherwise fails to initiate and maintain the defense of any such claim, suit, or proceeding, then Abbott may conduct
and control the defense of any such claim, suit, or proceeding at its own expense; provided, however, that Abbott shall obtain the written consent of Galapagos prior to settling or compromising such defense. 

(iii) Subject to Section 7.5.2(ii), when a counterclaim alleging the invalidity and/or unenforceability of a Galapagos
Owned Genus Patent is asserted in a Third Party Infringement action, Galapagos, working in a well coordinated litigation team with Abbott, shall have the first right, but not the obligation, to defend and control the defense of the validity and
enforceability of the Galapagos Owned Genus Patents at its own expense (except to the extent any such expense constitutes an Allowable Expense) in the Territory; provided that Abbott shall retain control of the enforcement claim brought in
such claim, suit, or proceeding. If Galapagos elects not to defend or control the defense of the Galapagos Owned Genus Patents in a suit brought in the Territory, or otherwise fails to initiate and maintain the defense of any such claim, suit, or
proceeding, then Abbott may conduct and control the defense of any such claim, suit, or proceeding at its own expense; provided, however, that Abbott shall obtain the written consent of Galapagos prior to settling or compromising such defense. 

7.5.3 Abbott Patents and Joint Patents. Abbott shall have the first right, but not the obligation, to defend and
control the defense of the validity and enforceability of the Abbott Patents and the Joint Patents at its own expense (except to the extent such expense constitutes an Allowable Expense) in the Territory. Galapagos may participate in any such

  
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claim, suit, or proceeding in the Territory related to the Joint Patents with counsel of its choice at its own expense; provided that Abbott shall retain control of the defense in such
claim, suit, or proceeding. If Abbott elects not to defend or control the defense of the Abbott Patents or the Joint Patents in a suit brought in the Territory, or otherwise fails to initiate and maintain the defense of any such claim, suit, or
proceeding, then Galapagos may conduct and control the defense of any such claim, suit, or proceeding, at its own expense; provided, however, that Galapagos shall obtain the written consent of Abbott prior to settling or compromising
such defense. 
 7.5.4 Cooperation. Each Party shall assist and cooperate with the other Party as such other Party
may reasonably request from time to time in connection with its activities set forth in this Section 7.5, including by being joined as a party plaintiff in such action or proceeding, providing access to relevant documents and other evidence,
and making its employees available at reasonable business hours. In connection with any such defense or claim or counterclaim, the controlling Party shall consider in good faith any comments from the other Party and shall keep the other Party
reasonably informed of any steps taken, and shall provide copies of all documents filed, in connection with such defense, claim, or counterclaim. In connection with the activities set forth in this Section 7.5, each Party shall consult with the
other as to the strategy for the defense of the Galapagos Patents, Abbott Patents, and Joint Patents. 
 7.5.5 Costs and
Expenses. Abbott shall be entitled to offset the reasonable attorney’s fees and court costs of defending such claim, suit, or proceeding under this Section 7.5 that are borne by Abbott and not included as an Allowable Expense in a
given Calendar Quarter (solely to the extent reasonably allocable to Galapagos Patents and Joint Patents) against any sales-based milestones due to Galapagos pursuant to Section 6.4.1, up to a maximum amount of [...***...] percent
([...***...]%) of the amounts owed with respect to each Calendar Quarter.  
 7.6 Third Party Licenses. If in the
reasonable opinion of Abbott, the Development, Manufacture, or Commercialization of any Licensed Compound or Licensed Product by Abbott, any of its Affiliates, or any of its or their Sublicensees misappropriates trade secrets, or infringes any
Patent or other intellectual property right of a Third Party in any country or other jurisdiction in the Territory, such that Abbott, any of its Affiliates or any of its or their Sublicensees cannot Develop, Manufacture, or Commercialize such
Licensed Compound or Licensed Product in such country or other jurisdiction without using said trade secrets or infringing such Patent or other intellectual property right of such Third Party, then Abbott shall have the sole right, but not the
obligation, to negotiate and obtain a license from such Third Party as necessary for Abbott and its Affiliates, and its and their Sublicensees to Develop, Manufacture, and Commercialize Licensed Compound and Licensed Products in such country or
other jurisdiction. 
 7.7 Product Trademarks. 

7.7.1 Ownership and Prosecution of Product Trademarks. Abbott shall own all right, title, and interest to the Product
Trademarks in the Territory, and shall be responsible for the registration, prosecution, and maintenance thereof. All costs and expenses of registering, prosecuting, and maintaining the Product Trademarks shall be borne solely by Abbott (except to
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Expense). Galapagos shall provide all assistance and documents reasonably requested by Abbott in support of its prosecution, registration, and maintenance of the Product Trademarks. 

7.7.2 Enforcement of Product Trademarks. Abbott shall have the sole right and responsibility for taking such action as
Abbott deems necessary against a Third Party based on any alleged, threatened, or actual infringement, dilution, misappropriation, or other violation of, or unfair trade practices or any other like offense relating to, the Product Trademarks by a
Third Party in the Territory. Abbott shall bear the costs and expenses relating to any enforcement action commenced pursuant to this Section 7.7.2 and any settlements and judgments with respect thereto (except to the extent such costs and
expenses constitute an Allowable Expense), and shall retain any damages or other amounts collected in connection therewith. 

7.7.3 Third Party Claims. Abbott shall have the sole right and responsibility for defending against any alleged,
threatened, or actual claim by a Third Party that the use or registration of the Product Trademarks in the Territory infringes, dilutes, misappropriates, or otherwise violates any Trademark or other right of that Third Party or constitutes unfair
trade practices or any other like offense, or any other claims as may be brought by a Third Party against a Party in connection with the use of the Product Trademarks with respect to a Licensed Product in the Territory. Abbott shall bear the costs
and expenses relating to any defense commenced pursuant to this Section 7.7.3 and any settlements and judgments with respect thereto (except to the extent such amounts constitute an Allowable Expense), and shall retain any damages or other
amounts collected in connection therewith. 
 7.7.4 Notice and Cooperation. Each Party shall provide to the other
Party prompt written notice of any actual or threatened infringement of the Product Trademarks in the Territory and of any actual or threatened claim that the use of the Product Trademarks in the Territory violates the rights of any Third Party.
Each Party agrees to cooperate fully with the other Party with respect to any enforcement action or defense commenced pursuant to this Section 7.7. 

7.8 Inventor’s Remuneration. Each Party shall be solely responsible for any remuneration that may be due such Party’s
inventors under any applicable inventor remuneration laws. 
 ARTICLE 8 

PHARMACOVIGILANCE AND SAFETY 

8.1 Pharmacovigilance. Within [...***...] ([...***...]) days after Abbott proceeds with the In-Licensing, the Parties
shall enter into an agreement to initiate a process for the exchange of safety data (including post-marketing spontaneous reports received by each Party and its Affiliates) in a mutually agreed format in order to monitor the safety of the Licensed
Compounds or Licensed Products and to meet reporting requirements with any applicable Regulatory Authority. 
 8.2 Global Safety
Database. Within [...***...] ([...***...]) days after completion of the Initial Development Activities, Abbott shall set up, hold, and maintain (at Abbott’s sole 

  
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cost and expense, but subject to the last sentence of this subsection) the global safety database for Licensed Compounds or Licensed Products. Galapagos shall provide Abbott with all information
necessary or desirable for Abbott to comply with its pharmacovigilance responsibilities in the Territory, including, as applicable, any adverse drug experiences, from pre-clinical or clinical laboratory, animal toxicology and pharmacology studies,
Clinical Studies, and commercial experiences with a Licensed Compound or Licensed Product, in each case in the form reasonably requested by Abbott. Abbott’s and its Affiliates’ and Sublicensees’ costs incurred in connection with
receiving, recording, reviewing, communicating, reporting, and responding to adverse events in the Co-Promotion Territory shall be included in Allowable Expenses calculated on an FTE Cost and direct out-of-pocket basis. 

ARTICLE 9 

CONFIDENTIALITY AND NON-DISCLOSURE 

9.1 Product Information. Galapagos recognizes that by reason of, inter alia, Abbott’s status as an exclusive licensee
pursuant to the grants under Section 5.2, Abbott has an interest in Galapagos’ retention in confidence of certain information of Galapagos. Accordingly, during the Term, Galapagos shall, and shall cause its Affiliates and its and their
respective officers, directors, employees, and agents to, keep completely confidential, and not publish or otherwise disclose, and not use directly or indirectly for any purpose other than to fulfill Galapagos’ obligations hereunder any
Information owned or otherwise Controlled by Galapagos or any of its Affiliates specifically relating to any Licensed Compound or Licensed Product, or the Exploitation of any of the foregoing (the “Product Information”); except to
the extent (x) the Product Information is in the public domain through no fault of Galapagos, its Affiliates or any of its or their respective officers, directors, employees, or agents; (y) such disclosure or use is expressly permitted
under Section 9.3, or (z) such disclosure or use is otherwise expressly permitted by the terms of this Agreement. For purposes of Section 9.3, Abbott shall be deemed to be the disclosing Party with respect to Product Information under
Section 9.3 and Galapagos shall be deemed to be the receiving Party with respect thereto. For further clarification, (i) without limiting this Section 9.1, to the extent Product Information is disclosed by Galapagos to Abbott pursuant
to this Agreement, such information shall, subject to the other terms and conditions of this Article 9, also constitute Confidential Information of Galapagos with respect to the use and disclosure of such Information by Galapagos (and Galapagos
shall be deemed to be the disclosing Party with respect to Product Information under Section 9.3 and Abbott shall be deemed to be the receiving Party with respect thereto), but (ii) the disclosure by Galapagos to Abbott of Product
Information shall not cause such information to cease to be subject to the provisions of this Section 9.1 with respect to the use and disclosure of such Confidential Information by Galapagos. If this Agreement is terminated in its entirety or
with respect to the Terminated Territory, this Section 9.1 shall have no continuing force or effect with respect to the use or disclosure of such information solely in connection with the Exploitation of the Licensed Compound or Licensed
Product for the benefit of the Terminated Territory, but the Product Information, to the extent disclosed by Abbott to Galapagos hereunder, shall continue to be Confidential Information of Abbott, subject to the terms of Sections 9.2, 9.3, and 9.7
for purposes of the surviving provisions of this Agreement. 
 9.2 Confidentiality Obligations. At all times during the Term and for
a period of [...***...] ([...***...]) years following termination or expiration hereof in its entirety, each 

  
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Party shall, and shall cause its Affiliates, or any of its or their respective officers, directors, employees and agents to, keep confidential and not publish or otherwise disclose to a Third
Party and not use, directly or indirectly, for any purpose, any Confidential Information furnished or otherwise made known to it, directly or indirectly, by the other Party, except to the extent such disclosure or use is expressly permitted by the
terms of this Agreement or is reasonably necessary or useful for the performance of, or the exercise of such Party’s rights under, this Agreement. Notwithstanding the foregoing, to the extent the receiving Party can demonstrate by documentation
or other competent proof, the confidentiality and non-use obligations under this Section 9.2 with respect to any Confidential Information shall not include any information that: 

9.2.1 has been published by a Third Party or otherwise is or hereafter becomes part of the public domain by public use,
publication, general knowledge or the like through no wrongful act, fault or negligence on the part of the receiving Party; 

9.2.2 have been in the receiving Party’s possession prior to disclosure by the disclosing Party without any
obligation of confidentiality with respect to such information; 
 9.2.3 is subsequently received by the receiving
Party from a Third Party without restriction and without breach of any agreement between such Third Party and the disclosing Party; 

9.2.4 is generally made available to Third Parties by the Disclosing Party without restriction on disclosure; or 

9.2.5 have been independently developed by or for the receiving Party without reference to, or use or disclosure of,
the disclosing Party’s Confidential Information. 
 9.3 Permitted Disclosures. Receiving Party may disclose disclosing
Party’s Confidential Information to the extent that such disclosure is: 
 9.3.1 in the reasonable opinion of
the receiving Party’s legal counsel, required to be disclosed pursuant to law, regulation or a valid order of a court of competent jurisdiction or other supra-national, federal, national, regional, state, provincial and local governmental body
of competent jurisdiction, (including by reason of filing with securities regulators, but subject to Section 9.5)); provided, however, that the receiving Party shall first have given prompt written notice (and to the extent possible, at
least [...***...] ([...***...]) Business Days notice) to the disclosing Party and given the disclosing Party a reasonable opportunity to take whatever action it deems necessary to protect its Confidential Information (for example, quash
such order or to obtain a protective order or confidential treatment requiring that the Confidential Information and documents that are the subject of such order be held in confidence by such court or governmental body or, if disclosed, be used only
for the purposes for which the order was issued). If no protective order or other remedy is obtained, or the disclosing Party waives compliance with the terms of this Agreement, receiving Party shall furnish only that portion of Confidential
Information which receiving Party is advised by counsel is legally required to be disclosed; 
 9.3.2 made by or on
behalf of the receiving Party to the Regulatory Authorities as required in connection with any filing, application or request for Regulatory Approval in accordance with the terms of this Agreement; provided, however, that reasonable
measures shall be taken to assure confidential treatment of such information to the extent practicable and consistent with Applicable Law; 

  
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 9.3.3 made by or on behalf of the receiving Party to a patent authority
as may be reasonably necessary or useful for purposes of obtaining, defending or enforcing a Patent in accordance with the terms of this Agreement; provided, however, that reasonable measures shall be taken to assure confidential treatment of
such information, to the extent such protection is available; 
 9.3.4 made to its or its Affiliates’ financial
and legal advisors who have a need to know such disclosing Party’s Confidential Information and are either under professional codes of conduct giving rise to expectations of confidentiality and non-use or under written agreements of
confidentiality and non-use, in each case, at least as restrictive as those set forth in this Agreement; provided that the receiving Party shall remain responsible for any failure by such financial and legal advisors, to treat such
Confidential Information as required under this Article; 
 9.3.5 made by Abbott or its Affiliates or Sublicensees to
its or their advisors, consultants, clinicians, vendors, service providers, contractors, existing or prospective collaboration partners, licensees, sublicensees, or other Third Parties as may be necessary or useful in connection with the
Exploitation of the Licensed Compound, the Licensed Products, or otherwise in connection with the performance of its obligations or exercise of its rights as contemplated by this Agreement; provided, however, that such persons shall be
subject to obligations of confidentiality and non-use with respect to such Confidential Information substantially similar to the obligations of confidentiality and non-use of the receiving Party pursuant to this Article 9 (with a duration of
confidentiality and non-use obligations as appropriate that is no less than [...***...] ([...***...]) years from the date of disclosure for advisors, consultants, clinicians, vendors, service providers, contractors); or 

9.3.6 made by Galapagos or its Affiliates to its or their advisors, consultants, clinicians, vendors, service
providers, contractors, and the like to the extent necessary in assisting with Galapagos’ activities contemplated by this Agreement; provided, however, that such persons shall be subject to obligations of confidentiality and non-use with
respect to such Confidential Information of Abbott substantially similar to the obligations of confidentiality and non-use of Galapagos pursuant to this Article 9 (with a duration of confidentiality and non-use obligations as appropriate that
is no less than [...***...] ([...***...]) years from the date of disclosure). 
 9.3.7 Section 9.3.5
shall apply mutatis mutandis to Galapagos with respect to Confidential Information of Abbott solely to the extent applicable to a Licensed Product being developed and commercialized by Galapagos pursuant to the licenses set forth in Sections
12.6.1(iii) and 12.7.2, if and as applicable. 
 9.4 Use of Name. Except as expressly provided herein, neither Party shall mention
or otherwise use the name, logo, or Trademark of the other Party or any of its Affiliates (or any abbreviation or adaptation thereof) in any publication, press release, marketing and promotional material, or other form of publicity without the prior
written approval of such other Party in each instance. The restrictions imposed by this Section 9.4 shall not prohibit either Party from making any disclosure identifying the other Party that, in the opinion of the disclosing Party’s

  
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counsel, is required by Applicable Law; provided such Party shall submit the proposed disclosure, as well as the specific Applicable Law for which disclosure is required, identifying the other
Party in writing to the other Party as far in advance as reasonably practicable (and in no event less than [...***...] ([...***...]) Business Days prior to the anticipated date of disclosure) so as to provide a reasonable opportunity to
comment thereon. 
 9.5 Public Announcements. The Parties have agreed upon the content of a joint press release which shall be
issued substantially in the form attached hereto as Schedule 9.5, the release of which the Parties shall coordinate in order to accomplish such release promptly upon execution of this Agreement. Neither Party shall issue any other public
announcement, press release, or other public disclosure regarding this Agreement or its subject matter without the other Party’s prior written consent, except for any such disclosure that is, in the opinion of the disclosing Party’s
counsel, required by Applicable Law or the rules of a stock exchange on which the securities of the disclosing Party are listed. If a Party is, in the opinion of its counsel, required by Applicable Law or the rules of a stock exchange on which its
securities are listed to make such a public disclosure, such Party shall submit the proposed disclosure, as well as the specific Applicable Law or rule of a stock exchange for which disclosure is required, in writing to the other Party as far in
advance as reasonably practicable (and in no event less than [...***...] ([...***...]) Business Days prior to the anticipated date of disclosure) so as to provide a reasonable opportunity to comment thereon. 

9.6 Notwithstanding the foregoing, Abbott, its Sublicensees and its and their respective Affiliates shall have the right to publicly
announce, make a press release, or make other public disclosures of the research, development and commercial information (including with respect to regulatory matters) regarding the Licensed Compound and Licensed Products; provided
(i) such disclosure is subject to the provisions of Sections 9.1 through 9.3 with respect to Galapagos’ Confidential Information, (ii) Abbott shall not use the name of Galapagos (or insignia, or any contraction, abbreviation or
adaptation thereof) without Galapagos’ prior written permission, (iii) Abbott’s rights under this paragraph shall commence upon Abbott proceeding with the In-Licensing. 

9.7 Publications. Each Party recognizes that the publication of papers regarding results of, and other information regarding,
activities under this Agreement, including oral presentations and abstracts, may be beneficial to both Parties, provided such publications are subject to reasonable controls to protect Confidential Information. In particular, it is the intent
of the Parties to maintain the confidentiality of any Confidential Information included in any invention disclosures or draft Patent application until such Patent application has been filed. Accordingly, each Party shall have the right to review and
approve any paper proposed for publication by the other Party, including any oral presentation or abstract, that contains Clinical Data or pertains to results of Clinical Studies, or other studies with respect to the Licensed Compounds or Licensed
Products or that includes Confidential Information of the other Party. Before any such paper is submitted for publication or an oral presentation is made, the publishing or presenting Party shall deliver a then-current copy of the paper or materials
for oral presentation to the other Party at least [...***...] ([...***...]) days prior to submitting the paper to a publisher or making the presentation. The other Party shall review any such paper and give its comments to the publishing
Party within [...***...] ([...***...]) days of the delivery of such paper to the other Party. If approval is not given or deemed given, either Party may refer the matter to the JDC for resolution together with the reasons for withholding
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Notwithstanding the foregoing, the publishing or presenting Party shall comply with the other Party’s request to delete references to such other Party’s Confidential Information in any
such paper and will withhold publication of any such paper or any presentation of same for an additional [...***...] ([...***...]) days in order to permit the Parties to obtain Patent protection if either Party deems it necessary. Any
publication shall include recognition of the contributions of the other Party according to standard practice for assigning scientific credit, either through authorship or acknowledgement, as may be appropriate. Each Party shall use Commercially
Reasonable Efforts to cause investigators and institutions participating in Clinical Studies with which it contracts, to agree to terms substantially similar to those set forth in this Section, which efforts shall satisfy such Party’s
obligations under this Section with respect to such investigators and institutions. 
 9.7.1 Notwithstanding the
foregoing, upon Abbott proceeding with the In-Licensing: 
 (i) The first paragraph shall no longer be effective; 

(ii) Galapagos shall not publish, present, or otherwise disclose, and shall cause its Affiliates and Third Party Providers and
its and their employees and agents not to disclose any material specifically related to the Exploitation of the applicable Licensed Compound or Licensed Product in the applicable indication without the prior written consent of Abbott; and 

(iii) Abbott, its Sublicensees and its and their respective Affiliates shall have the right to publish, present, or otherwise
disclose, any material related to the Exploitation of the applicable Licensed Compound or Licensed Product in the applicable indication; provided (i) such disclosure is subject to the provisions of Sections 9.1 through 9.3 with respect
to Galapagos’ Confidential Information, and (ii) Abbott shall not use the name of Galapagos (or insignia, or any contraction, abbreviation or adaptation thereof) without Galapagos’ prior written permission. 

9.8 Return of Confidential Information. Upon the effective date of the termination of this Agreement for any reason, either Party may
request in writing, and the other Party shall either, with respect to Confidential Information (in the event of termination of this Agreement with respect to one or more Terminated Territories but not in its entirety, solely to the extent relating
specifically and exclusively to such Terminated Territories) to which such first Party does not retain rights under the surviving provisions of this Agreement: (i) as soon as reasonably practicable, destroy all copies of such Confidential
Information in the possession of the other Party and confirm such destruction in writing to the requesting Party; or (ii) as soon as reasonably practicable, deliver to the requesting Party, at the other Party’s expense, all copies of such
Confidential Information in the possession of the other Party; provided, however, the other Party shall be permitted to retain one (1) copy of such Confidential Information for the sole purpose of performing any continuing obligations
hereunder, as required by Applicable Law, or for archival purposes. Notwithstanding the foregoing, such other Party also shall be permitted to retain such additional copies of or any computer records or files containing such Confidential Information
that have been created solely by such Party’s automatic archiving and back-up procedures, to the extent created and retained in a manner consistent with such other Party’s standard archiving and back-up procedures, but not for any other
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 9.9 Survival. All Confidential Information shall continue to be subject to the terms of
this Agreement for the period set forth in Section 9.2. 
 ARTICLE 10 

REPRESENTATIONS AND WARRANTIES 

10.1 Mutual Representations and Warranties. Galapagos and Abbott represent and warrant to each other, as of the Effective Date, as
follows: 
 10.1.1 Organization. It is a corporation duly organized, validly existing, and in good standing under the
laws of the jurisdiction of its organization, and has all requisite power and authority, corporate or otherwise, to execute, deliver, and perform this Agreement. 

10.1.2 Authorization. The execution and delivery of this Agreement and the performance by it of the transactions
contemplated hereby have been duly authorized by all necessary corporate action, and do not violate (i) such Party’s charter documents, bylaws, or other organizational documents, (ii) in any material respect, any agreement,
instrument, or contractual obligation to which such Party is bound, (iii) any requirement of any Applicable Law, or (iv) any order, writ, judgment, injunction, decree, determination, or award of any court or governmental agency presently
in effect applicable to such Party. 
 10.1.3 Binding Agreement. This Agreement is a legal, valid, and binding
obligation of such Party enforceable against it in accordance with its terms and conditions, subject to the effects of bankruptcy, insolvency, or other laws of general application affecting the enforcement of creditor rights, judicial principles
affecting the availability of specific performance, and general principles of equity (whether enforceability is considered a proceeding at law or equity). 

10.1.4 No Inconsistent Obligation. It is not under any obligation, contractual or otherwise, to any Person that
conflicts with or is inconsistent in any material respect with the terms of this Agreement, or that would impede the diligent and complete fulfillment of its obligations hereunder. 

10.2 Additional Representations and Warranties of Galapagos. Galapagos further represents and warrants to Abbott, as of the
Effective Date, as follows: 
 10.2.1 All Galapagos Patents existing as of the Effective Date are listed on
Schedule 10.2.1 (the “Existing Patents”). All Existing Patents existing as of the Effective Date are subsisting and are not invalid or unenforceable, in whole or in part, are being diligently prosecuted in the respective
patent offices in the Territory in accordance with Applicable Law, and have been filed and maintained properly and correctly and all applicable fees have been paid on or before the due date for payment. The Existing Patents represent all Patents
within Galapagos’ or its Affiliates’ ownership or Control including claims covering the making, using, and composition of matter of the Licensed Compounds or the Licensed Products, or the Exploitation thereof, as of the Effective Date.

 10.2.2 To the best of Galapagos’ Knowledge, there are no claims, judgments, or settlements against, or
amounts with respect thereto, owed by Galapagos or any of its Affiliates relating to the Existing Regulatory Documentation, the Existing Patents, or the Galapagos Know-How. No claim or litigation has been brought or threatened by any

  
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Person alleging, and Galapagos has no Knowledge of any claim, whether or not asserted, that (i) the Existing Patents or the Galapagos Know-How are invalid or unenforceable, or (ii) the
Existing Regulatory Documentation, the Existing Patents, or the Galapagos Know-How, or the disclosing, copying, making, assigning, or licensing of the Existing Regulatory Documentation, the Existing Patents, or the Galapagos Know-How, or the
Development, Manufacture, Commercialization or other Exploitation of the Licensed Compounds or Licensed Products as contemplated herein, does or will violate, infringe, misappropriate or otherwise conflict or interfere with, any Patent or other
intellectual property or proprietary right of any Third Party. To Galapagos’ Knowledge, no Person is infringing or threatening to infringe or misappropriating or threatening to misappropriate the Existing Patents, the Galapagos Know-How, or the
Regulatory Documentation. 
 10.2.3 Galapagos is (i) the sole and exclusive owner of the entire right, title and
interest in the Existing Patents listed on Schedule 10.2.1, Part A (the “Owned Species Patents”), and subject to [...***...], the Existing Patents listed on Schedule 10.2.1, Part B (the “Owned Genus
Patents”)(collectively the “Owned Patents”) and the Galapagos Know-How and (ii) the sole and exclusive licensee of the Existing Patents listed on Schedule 10.2.1, Part C (the “Third Party In-Licensed
Patents”), in each case ((i) and (ii)) free of any encumbrance, lien, or claim of ownership by any Third Party (other than the rights of the licensors with respect to each Third Party In-License Agreement, and the rights granted under
[...***...]). Galapagos is entitled to grant the licenses specified herein. To the extent that any Owned Genus Patent become Controlled in its entirety (for sake of clarity, no longer subject to any Third Party rights under [...***...])
by Galapagos then such Owned Genus Patent shall be deemed an Owned Species Patent. 
 10.2.4 Except for the Lead
Compound and the compounds known as [...***...], Galapagos does not have any JAK1 that [...***...]. 

10.2.5 Galapagos covenants that, except (i) with respect to obligations to Third Parties existing as of the
Effective Date and (ii) with respect to its rights and obligations under this Agreement, Galapagos shall not and shall cause its Affiliates to not directly or indirectly (including by means of licensing or otherwise), itself or through any
Third Party, research, develop, commercialize, or manufacture any compound or product that inhibits enzymes in the JAK family (including, but not limited to, JAK1s). 

10.2.6 During the Term, neither Galapagos nor any of its Affiliates shall encumber or diminish the rights granted to
Abbott, or upon proceeding with the In-Licensing, to be granted to Abbott, hereunder, with respect to the Galapagos Patents, Galapagos Know-How or Joint Patents or Joint Know-How, including by not (i) committing any acts or permitting the
occurrence of any omissions that would cause the breach or termination of any Third Party In-License Agreement, or (ii) amending or otherwise modifying or permitting to be amended or modified, any Third Party In-License Agreement. Galapagos
shall promptly provide Abbott with notice of any alleged, threatened, or actual breach of any Third Party In-License Agreement. As of the Effective Date, none of Galapagos, its Affiliates or any Third Party is in breach of any Third Party In-License
Agreement. Each Third Party In-License Agreement is in full force and effect. 
 10.2.7 To the best of
Galapagos’ Knowledge, Galapagos has provided or made available to Abbott, prior to the Effective Date, true, complete, and correct copies of 

  
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(i) the file wrapper and other documents and materials relating to the prosecution, defense, maintenance, validity, and enforceability of the Owned Patents and, to the extent in
Galapagos’ or any of its Affiliates’ possession, the Third Party In-Licensed Patents and Third Party In-License Agreements; (ii) all Existing Regulatory Documentation; and (iii) all material adverse information with respect to
the safety and efficacy of the Licensed Compound known to Galapagos, and (iv) [...***...] in each case ((i) through (iv)) to the extent requested by Abbott. 

10.2.8 To the best of Galapagos’ Knowledge, Galapagos and its Affiliates have generated, prepared, maintained, and
retained all Regulatory Documentation that is required to be maintained or retained pursuant to and in accordance with good laboratory and clinical practice and Applicable Law, and all such information is true, complete and correct and what it
purports to be. 
 10.2.9 To the best of Galapagos’ Knowledge, Galapagos and its Affiliates have presented, or
will present prior to the pertinent patent office deadlines, all relevant references, documents, or information of which it and the inventors are aware to the relevant patent examiner at the pertinent patent office, in connection with the
prosecution of the pending patent applications included in the Existing Patents. 
 10.2.10 To the best of
Galapagos’ Knowledge, each of the Existing Patents properly identifies each and every inventor of the claims thereof as determined in accordance with the laws of the jurisdiction in which such Existing Patent is issued or such application is
pending. 
 10.2.11 Each Person who, to the best of Galapagos’ Knowledge, has or has had any rights in or to any
Owned Patents or any Galapagos Know-How, has assigned and has executed an agreement assigning its entire right, title, and interest in and to such Existing Patents and Galapagos Know-How to Galapagos. To the best of Galapagos’ Knowledge, no
current officer, employee, agent, or consultant of Galapagos or any of its Affiliates is in violation of any term of any assignment or other agreement regarding the protection of Patents or other intellectual property or proprietary information of
Galapagos or such Affiliate or of any employment contract relating to the relationship of any such Person with Galapagos. To the best of Galapagos’ Knowledge, each Person who has or has had any rights in or to any Third Party In-Licensed
Patents or any know-how sublicensed hereunder, has assigned and has executed an agreement assigning its entire right, title, and interest in and to such patents and know-how to the licensor of the Third Party In-Licensed Agreement. 

10.2.12 To the best of Galapagos’ Knowledge, all works of authorship and all other materials subject to copyright
protection included in Galapagos Know-How are original and were either created by employees of Galapagos or its Affiliates within the scope of their employment or are otherwise works made for hire, or all right, title, and interest in and to such
materials have been legally and fully assigned and transferred to Galapagos or such Affiliate, and all rights in all inventions and discoveries, made, developed, or conceived by any employee or independent contractor of Galapagos or any of its
Affiliates during the course of their employment (or other retention) by Galapagos or such Affiliate, and relating to or included in Galapagos Know-How or that are the subject of one or more Existing Patents have been or will be assigned in writing
to Galapagos or such Affiliate. 

  
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 10.2.13 Galapagos has obtained the right (including under any Patents and
other intellectual property rights) to use all Information and all other materials (including any formulations and manufacturing processes and procedures) developed or delivered by any Third Party under any agreements between Galapagos and any such
Third Party with respect to the Licensed Compound, and Galapagos has the rights under each such agreement to transfer such Information or other materials to Abbott and its designees and to grant Abbott the right to use such know-how or other
materials in the Development or Commercialization of the Licensed Compounds or the Licensed Products without restriction. 

10.2.14 The Galapagos Know-How has been kept confidential or has been disclosed to Third Parties only under terms of
confidentiality. To the best of Galapagos’ Knowledge, and its Affiliates, no breach of such confidentiality has been committed by any Third Party. 

10.2.15 To the best of Galapagos’ Knowledge, and to the extent requested by Abbott, Galapagos has made (and will
make) available to Abbott all Regulatory Documentation, Galapagos Know-How and other Information in its possession or Control specifically related to the Licensed Compounds and the Licensed Products and all such Regulatory Documentation, Galapagos
Know-How and other Information are (and, if made available after the Effective Date, will be) true, complete, and correct. 

10.2.16 To the best of Galapagos’ Knowledge, neither Galapagos nor any of its Affiliates, nor any of its or their
respective officers, employees, or agents has made an untrue statement of material fact or fraudulent statement to the FDA or any other Regulatory Authority with respect to the Development of the Licensed Compounds or the Licensed Products, failed
to disclose a material fact required to be disclosed to the FDA or any other Regulatory Authority with respect to the Development of the Licensed Compounds or the Licensed Products, or committed an act, made a statement, or failed to make a
statement with respect to the Development of the Licensed Compounds or the Licensed Products that could reasonably be expected to provide a basis for the FDA to invoke its policy respecting “Fraud, Untrue Statements of Material Facts, Bribery,
and Illegal Gratuities”, set forth in 56 Fed. Reg. 46191 (September 10, 1991) and any amendments thereto or any analogous laws or policies in the Territory. 

10.2.17 To the best of Galapagos’ Knowledge, Galapagos and its Affiliates have conducted, and their respective
contractors and consultants have conducted, all Development of the Licensed Compounds or the Licensed Products that they have conducted prior to the Effective Date in accordance with good laboratory and clinical practice and Applicable Law. To the
best of Galapagos’ Knowledge, Galapagos has conducted, and has caused its contractors and consultants to conduct, any and all pre-clinical and clinical studies related to the Licensed Compounds and Licensed Products in accordance with good
laboratory and clinical practice and Applicable Law. To the best of Galapagos’ Knowledge, Galapagos and its Affiliates have employed (and, with respect to such tests and studies that Galapagos will perform, will employ) Persons with appropriate
education, knowledge and experience to conduct and to oversee the conduct of the pre-clinical and clinical studies with respect to the Licensed Compounds and Licensed Products. 

10.2.18 Except with respect to the Third Party In-Licensed Agreement, to the best of Galapagos’ Knowledge, there
are no amounts that will be required 

  
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to be paid to a Third Party as a result of the Development or Commercialization of the Licensed Compounds or Licensed Products that arise out of any agreement to which Galapagos or any of its
Affiliates is a party. 
 10.2.19 Neither Galapagos nor any of its Affiliates has any Knowledge of any scientific or
technical facts or circumstances that have not been disclosed to Abbott, and that would adversely affect the scientific, therapeutic, or commercial potential of the Licensed Compounds or Licensed Products. Neither Galapagos nor any of its Affiliates
has any Knowledge of anything that has not been disclosed to Abbott, and that could adversely affect the acceptance, or the subsequent approval, by any Regulatory Authority of any filing, application or request for Regulatory Approval. 

10.2.20 Neither Galapagos nor any of its employees or agents performing hereunder, have ever been, are currently, or
are the subject of a proceeding that could lead to it or such employees or agents becoming, as applicable, a Debarred Entity or Debarred Individual, an Excluded Entity or Excluded Individual or a Convicted Entity or Convicted Individual. 

(i) If, during the Term, Galapagos, or any of its employees or agents performing hereunder, become or are the subject of a
proceeding that could lead to a person becoming, as applicable, a Debarred Entity or Debarred Individual, an Excluded Entity or Excluded Individual or a Convicted Entity or Convicted Individual, Galapagos shall immediately notify Abbott, and Abbott
shall have the option, at its sole discretion, to either: (x) prohibit such person from performing work under this Agreement or (y) terminate all work being performed and/or to be performed by Galapagos pursuant to this Agreement. This
provision shall survive termination or expiration of this Agreement. For purposes of this Agreement, the following definitions shall apply: 

(ii) A “Debarred Individual” is an individual who has been debarred by the FDA pursuant to 21 U.S.C. §335a
(a) or (b) from providing services in any capacity to a person that has an approved or pending drug or biological product application. 

(iii) A “Debarred Entity” is a corporation, partnership or association that has been debarred by the FDA pursuant to
21 U.S.C. §335a (a) or (b) from submitting or assisting in the submission of any abbreviated drug application, or a subsidiary or affiliate of a Debarred Entity. 

(iv) An “Excluded Individual” or “Excluded Entity” is (i) an individual or entity, as applicable, who
has been excluded, debarred, suspended or is otherwise ineligible to participate in federal health care programs such as Medicare or Medicaid by the Office of the Inspector General (OIG/HHS) of the U.S. Department of Health and Human Services, or
(ii) is an individual or entity, as applicable, who has been excluded, debarred, suspended or is otherwise ineligible to participate in federal procurement and non-procurement programs, including those produced by the U.S. General Services
Administration (GSA). 
 (v) A “Convicted Individual” or “Convicted Entity” is an individual or entity,
as applicable, who has been convicted of a criminal offense that falls within the ambit of 21 U.S.C. §335a (a) or 42 U.S.C. §1320a - 7(a), but has not yet been excluded, debarred, suspended or otherwise declared ineligible. 

  
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 10.2.21 Galapagos has obtained from its Affiliates, sublicensees,
employees and agents, and from the employees and agents of its Affiliates, sublicensees and agents, who are or are otherwise participating in the Exploitation of the Licensed Compounds or Licensed Products or who otherwise have access to any Abbott
Information or other Confidential Information of Abbott, and shall obtain from such Persons during the Term, the licenses and other rights necessary for Galapagos to grant to Abbott the rights and licenses provided herein and for Abbott to perform
its obligations hereunder, without payments beyond those required by Article 6.  
 10.2.22 The inventions
claimed in the Existing Patents (i) were not conceived or made in connection with any research activities funded, in whole or in part, by the federal government of the United States or any agency thereof, (ii) are not a “subject
invention” as that term is described in 35 U.S.C. Section 201(f), and (iii) are not otherwise subject to the provisions of the Bayh-Dole Act. 

10.2.23 With respect to supplies of Licensed Compound, Licensed Product and placebos Manufactured and supplied by or on
behalf of a Party for use prior to or in the course of the Initial Development Activities and/or other Development activities, all such Licensed Compound, Licensed Product and placebos: (i) shall have been in conformity with the applicable
specifications for such Licensed Compound, Licensed Product and placebos; (ii) shall have been Manufactured in conformance with GMP, all other Applicable Law, this Agreement, and any applicable quality agreement; (iii) shall have been
Manufactured in facilities that are in compliance with Applicable Law at the time of such Manufacture (including applicable inspection requirements of FDA and other Regulatory Authorities); (iv) shall not be adulterated or misbranded under the
FFDCA, and similar provisions of the laws of other countries as to which Regulatory Approvals have been granted; and (v) may be introduced into interstate commerce pursuant to the FFDCA, and similar provisions of the laws of other countries as
to which Regulatory Approvals have been granted. 
 10.2.24 To the best of Galapagos’ Knowledge, the
representations and warranties of Galapagos in this Agreement, and the Information and materials furnished to Abbott in connection with its period of diligence prior to the Effective Date, do not, taken as a whole, (i) contain any untrue
statement of a material fact, or (ii) omit to state any material fact necessary to make the statements or facts contained therein, in light of the circumstances under which they were made, not misleading. 

10.3 DISCLAIMER OF WARRANTIES. EXCEPT FOR THE EXPRESS WARRANTIES SET FORTH HEREIN, NEITHER PARTY MAKES ANY REPRESENTATIONS OR GRANTS
ANY WARRANTIES, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, AND EACH PARTY SPECIFICALLY DISCLAIMS ANY OTHER WARRANTIES, WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF QUALITY,
MERCHANTABILITY, OR FITNESS FOR A PARTICULAR USE OR PURPOSE OR ANY WARRANTY AS TO THE VALIDITY OF ANY PATENTS OR THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES. 

  
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 ARTICLE 11 

INDEMNITY 
 11.1
Indemnification of Galapagos. Abbott shall indemnify Galapagos, its Affiliates and their respective directors, officers, employees, and agents (the “Galapagos Indemnitees”) and shall defend and save each of them harmless, from
and against any and all losses, damages, liabilities, penalties, costs, and expenses (including reasonable attorneys’ fees and expenses) (collectively, “Losses”) in connection with any and all suits, investigations, claims, or
demands of Third Parties (collectively, “Third Party Claims”) incurred by or rendered against the Galapagos Indemnitees arising from or occurring as a result of: 

(i) the breach by Abbott of any material obligation of this Agreement; 

(ii) the negligence, reckless conduct or willful misconduct on the part of Abbott or its Affiliates or their respective
directors, officers, employees, and agents in performing its or their material obligations under this Agreement; 
 (iii)
the Development, Commercialization, Manufacture, or other Exploitation of the Licensed Products or the Licensed Compounds or use of any Product Trademark anywhere in the world in each case: after Abbott proceeds with the In-Licensing and during the
Term thereafter, except for such Development, Commercialization, Manufacture, or other Exploitation conducted by, on behalf of, or for Galapagos or its Affiliates or sublicensees as permitted hereunder; 

(iv) the co-promotion by Abbott or any of its Affiliates of a Co-Promotion Product in the Co-Promotion Territory; and 

(v) the infringement of the Patent or other intellectual property or other proprietary rights of any Third Party from
Abbott’s or any of its Affiliates’ Development, Commercialization, Manufacture, or other Exploitation of the Licensed Compounds or Licensed Products in each case: (x) after Abbott proceeds with the In-Licensing and during the Term
thereafter except for such Development, Commercialization, Manufacture, or other Exploitation conducted by, on behalf of, or for Galapagos or its Affiliates or sublicensees as permitted hereunder or (y) in or for the benefit of the Terminated
Territory; 
 except in the case of clauses (i) through (v), for those Losses for which Galapagos, in whole or in part, has an
obligation to indemnify Abbott pursuant to Section 11.2 hereof, as to which Losses each Party shall indemnify the other to the extent of their respective liability for such Losses. 

11.2 Indemnification of Abbott. Galapagos shall indemnify Abbott, its Affiliates and their respective directors, officers, employees,
and agents (the “Abbott Indemnitees”), and defend and save each of them harmless, from and against any and all Losses in connection with any and all Third Party Claims incurred by or rendered against the Abbott Indemnitees arising
from or occurring as a result of: 
 (i) the breach by Galapagos of any material obligation of this Agreement; 

  
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 (ii) the negligence, reckless conduct or willful misconduct on the part of
Galapagos or its Affiliates or their respective directors, officers, employees, and agents in performing its material obligations under this Agreement; 

(iii) the use of Galapagos Corporate Names in connection with the Commercialization of the Licensed Compounds or Licensed
Products in the Territory as permitted under this Agreement; 
 (iv) the Development, Commercialization, Manufacture, or
other Exploitation of the Licensed Products or the Licensed Compounds or use of any Product Trademark anywhere in the world in each case: (x) prior to the Effective Date, (y) after the Term except for such Development, Commercialization,
Manufacture, or other Exploitation conducted by, on behalf of, or for Abbott or its Affiliates or Sublicensees as permitted hereunder and (z) in or for the benefit of the Terminated Territory; 

(v) the co-promotion by Galapagos or any of its Affiliates of a Co-Promotion Product in the Co-Promotion Territory; and 

(vi) the infringement of the Patent or other intellectual property or other proprietary rights of any Third Party from
Galapagos’ or any of its Affiliates’ Development, Commercialization, Manufacture, or other Exploitation of the Licensed Compounds or Licensed Products in each case: (x) prior to the Effective Date, (y) after the Term except for
such Development, Commercialization, Manufacture, or other Exploitation conducted by, on behalf of, or for Abbott or its Affiliates or Sublicensees as permitted hereunder or (z) in or for the benefit of the Terminated Territory; 

except, in the case of clauses (i) through (vi) above for those Losses for which Abbott, in whole or in part, has an obligation to
indemnify Galapagos pursuant to Section 11.1 hereof, as to which Losses each Party shall indemnify the other to the extent of their respective liability for the Losses. 

11.3 Certain Losses. Any Losses, other than those Losses covered in Article 7 or for which indemnification is provided in
Section 11.1 or Section 11.2, in connection with any Third Party Claim brought against either Party resulting directly or indirectly from the Commercialization of any Co-Promotion Product, or the Manufacture of any Co-Promotion Product for
use in Commercialization activities, shall be included as an Allowable Expense. If either Party learns of any Third Party Claim with respect to Losses covered by this Section 11.3, such Party shall provide the other Party with prompt written
notice thereof. The Parties shall confer with respect to how to respond to such Third Party Claim and how to handle such Third Party Claim in an efficient manner. In the absence of such an agreement, Abbott shall have the right to take such action
as it deems appropriate. 
 11.4 Notice of Claim. All indemnification claims in respect of a Party, its Affiliates, or their
respective directors, officers, employees and agents shall be made solely by such Party to this Agreement (the “Indemnified Party”). The Indemnified Party shall give the indemnifying Party prompt written notice (an
“Indemnification Claim Notice”) of any Losses or discovery of fact upon which such Indemnified Party intends to base a request for indemnification under this Article 11, but in no event shall the indemnifying Party be liable for any
Losses that result from any delay in providing such notice. Each Indemnification Claim Notice must contain a description of the claim and the nature and amount of such Loss (to the extent that the nature and

  
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amount of such Loss is known at such time). The Indemnified Party shall furnish promptly to the indemnifying Party copies of all papers and official documents received in respect of any Losses
and Third Party Claims. 
 11.5 Control of Defense. 

11.5.1 In General. At its option, the indemnifying Party may assume the defense of any Third Party Claim by giving
written notice to the Indemnified Party within [...***...] ([...***...]) days after the indemnifying Party’s receipt of an Indemnification Claim Notice. The assumption of the defense of a Third Party Claim by the indemnifying Party
shall not be construed as an acknowledgment that the indemnifying Party is liable to indemnify the Indemnified Party in respect of the Third Party Claim, nor shall it constitute a waiver by the indemnifying Party of any defenses it may assert
against the Indemnified Party’s claim for indemnification. Upon assuming the defense of a Third Party Claim, the indemnifying Party may appoint as lead counsel in the defense of the Third Party Claim any legal counsel selected by the
indemnifying Party which shall be reasonably acceptable to the Indemnified Party. If the indemnifying Party assumes the defense of a Third Party Claim, the Indemnified Party shall immediately deliver to the indemnifying Party all original notices
and documents (including court papers) received by the Indemnified Party in connection with the Third Party Claim. Should the indemnifying Party assume the defense of a Third Party Claim, except as provided in Section 11.5.2, the indemnifying
Party shall not be liable to the Indemnified Party for any legal expenses subsequently incurred by such Indemnified Party in connection with the analysis, defense or settlement of the Third Party Claim unless specifically requested in writing by the
indemnifying Party. If it is ultimately determined that the indemnifying Party is not obligated to indemnify, defend or hold harmless the Indemnified Party from and against the Third Party Claim, the Indemnified Party shall reimburse the
indemnifying Party for any and all costs and expenses (including attorneys’ fees and costs of suit) and any Losses incurred by the indemnifying Party in its defense of the Third Party Claim. 

11.5.2 Right to Participate in Defense. Without limiting Section 11.5.1, any Indemnified Party shall be entitled
to participate in, but not control, the defense of such Third Party Claim and to employ counsel of its choice for such purpose; provided, however, that such employment shall be at the Indemnified Party’s own expense unless
(i) the employment thereof, and the assumption by the indemnifying Party of such expense, has been specifically authorized by the indemnifying Party in writing, (ii) the indemnifying Party has failed to assume the defense and employ
counsel in accordance with Section 11.5.1 (in which case the Indemnified Party shall control the defense), or (iii) the interests of the Indemnified Party and the indemnifying Party with respect to such Third Party Claim are sufficiently
adverse to prohibit the representation by the same counsel of both Parties under Applicable Law, ethical rules or equitable principles. 

11.5.3 Settlement. 

(i) With respect to any Losses relating solely to the payment of money damages in connection with a Third Party Claim and not
resulting in the Indemnified Party’s becoming subject to injunctive or other relief, and as to which the indemnifying Party shall have acknowledged in writing the obligation to indemnify the Indemnified Party hereunder, the indemnifying Party
shall have the sole right to consent to the entry of any judgment, enter into any settlement or otherwise dispose of such Loss, on such terms as the indemnifying Party, in its sole discretion, shall deem appropriate. 

  
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 (ii) With respect to all other Losses in connection with Third Party Claims,
where the indemnifying Party has assumed the defense of the Third Party Claim in accordance with Section 11.5.1, the indemnifying Party shall have authority to consent to the entry of any judgment, enter into any settlement or otherwise dispose
of such Loss; provided it obtains the prior written consent of the Indemnified Party. If the indemnifying Party does not assume and conduct the defense of a Third Party Claim as provided above, the Indemnified Party may defend against such
Third Party Claim. Regardless of whether the indemnifying Party chooses to defend or prosecute any Third Party Claim, no Indemnified Party shall admit any liability with respect to, or settle, compromise or dispose of, any Third Party Claim without
the prior written consent of the indemnifying Party. The Indemnifying Party shall not be liable for any settlement, compromise or other disposition of a Loss by an Indemnified Party that is reached without the written consent of the Indemnifying
Party. 
 11.5.4 Cooperation. Regardless of whether the indemnifying Party chooses to defend or prosecute any Third
Party Claim, the Indemnified Party shall, and shall cause each Indemnified Party to, cooperate in the defense or prosecution thereof and shall furnish such records, information and testimony, provide such witnesses and attend such conferences,
discovery proceedings, hearings, trials and appeals as may be reasonably requested in connection therewith. Such cooperation shall include access during normal business hours afforded to the indemnifying Party to, and reasonable retention by the
Indemnified Party of, records and information that are reasonably relevant to such Third Party Claim, and making Indemnified Parties and other employees and agents available on a mutually convenient basis to provide additional information and
explanation of any material provided hereunder, and the indemnifying Party shall reimburse the Indemnified Party for all its reasonable out-of-pocket expenses in connection therewith. 

11.5.5 Expenses. Except as provided above, the reasonable and verifiable costs and expenses, including fees and
disbursements of counsel, incurred by the Indemnified Party in connection with any Third Party Claim shall be reimbursed on a Calendar Quarter basis in arrears by the indemnifying Party, without prejudice to the indemnifying Party’s right to
contest the Indemnified Party’s right to indemnification and subject to refund if the indemnifying Party is ultimately held not to be obligated to indemnify the Indemnified Party. 

11.6 Special, Indirect, and Other Losses. EXCEPT FOR WILLFUL MISCONDUCT, NEITHER PARTY NOR ANY OF ITS AFFILIATES SHALL BE LIABLE FOR
INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF PROFITS OR BUSINESS INTERRUPTION, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, TORT, NEGLIGENCE, BREACH OF STATUTORY DUTY OR
OTHERWISE IN CONNECTION WITH OR ARISING IN ANY WAY OUT OF THE TERMS OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THE USE OF THE LICENSED COMPOUND OR LICENSED PRODUCT, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. Notwithstanding
the foregoing, nothing in this Agreement shall limit payments by either Party to an Indemnified Party for Third Party Claims as to which a Party provides indemnification under this Article 11. 

  
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 11.7 Insurance. Each Party shall obtain and carry in full force and effect the minimum
insurance requirements set forth herein. Such insurance (i) shall be primary insurance with respect to each Party’s own participation under this Agreement, (ii) shall be issued by a recognized insurer rated by A.M. Best
“A-VII” (or its equivalent) or better, or an insurer pre-approved in writing by the other Party, (iii) shall list the other Party as an additional named insured thereunder, and (iv) shall require [...***...]
([...***...]) days’ written notice to be given to the other Party prior to any cancellation, non-renewal or material change thereof. 

11.7.1 Types and Minimum Limits. The types of insurance, and minimum limits shall be: 

(i) Worker’s Compensation with statutory limits in compliance with the Worker’s Compensation laws of the state or
states in which the Party has employees in the United States (excluding Puerto Rico). 
 (ii) Employer’s Liability
coverage with a minimum limit of [...***...] Dollars ($[...***...]) per occurrence provided a Party has employees in the United States (excluding Puerto Rico). 

(iii) General Liability Insurance with a minimum limit of [...***...] Dollars ($[...***...]) annual aggregate
during Development of Licensed Product or Licensed Compound. General Liability Insurance shall include, at a minimum, Professional Liability, Clinical Trial Insurance and, beginning at least [...***...] ([...***...]) days prior to First
Commercial Sale of a Licensed Product, product liability insurance. The Parties shall mutually agree on liability insurance limits for product liability insurance. 

11.7.2 Certificates of Insurance. Upon request by a Party, the other Party shall provide Certificates of Insurance
evidencing compliance with this Section. The insurance policies shall be under an occurrence form, but if only a claims-made form is available to a Party, then such Party shall continue to maintain such insurance after the expiration or termination
of this Agreement for the longer of: (i) a period of [...***...] ([...***...]) years following termination or expiration of this Agreement in its entirety or, (ii) with respect to a particular Party, last sale of a Licensed
Product (or but for expiration or termination, would be considered a Licensed Product) sold under this Agreement by a Party. 

11.7.3 Self-Insurance. Notwithstanding the foregoing, either Party may self-insure in whole or in part the insurance
requirements described above, provided such Party continues to be investment grade determined by reputable and accepted financial rating agencies. 

ARTICLE 12 
 TERM AND
TERMINATION 
 12.1 Term. 

12.1.1 Term. This Agreement shall commence on the Effective Date and, unless earlier terminated in accordance herewith,
shall continue in force and effect until 

  
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the longer of (i) expiration of the Review Period if Abbott does not proceed with the In-Licensing; or (ii) if Abbott proceeds with the In-Licensing, expiration of the longest Royalty
Term applicable to Licensed Products (such period, the “Term”). 
 12.1.2 Effect of Expiration of the
Term. Following the expiration of the Term pursuant to Section 12.1.1(ii), the grants in Section 5.2 shall become non-exclusive, fully-paid, royalty-free and irrevocable with rights to sublicense as set forth in this Agreement. 

12.2 Termination for Material Breach. 

12.2.1 Material Breach. If either Party (the “Non-Breaching Party”) believes that the other Party (the
“Breaching Party”) is in breach of one or more of its material obligations under this Agreement, then the Non-Breaching Party may deliver notice of such breach to the Breaching Party (a “Default Notice”). If the
Breaching Party does not dispute that it is in breach of one or more of its material obligations under this Agreement, then if the Breaching Party fails to cure such breach, or fails to take steps as would be considered reasonable to effectively
cure such breach, within [...***...] ([...***...]) days after receipt of the Default Notice, or if such compliance cannot be fully achieved within such [...***...] ([...***...]) day period and the Breaching Party has failed
to commence compliance or has failed to use diligent efforts to achieve full compliance as soon thereafter as is reasonably possible, the Non-Breaching Party may terminate this Agreement upon written notice to the Breaching Party. If the Breaching
Party disputes that it is in breach of one of its material obligations under this Agreement, the dispute shall be resolved pursuant to Section 13.8. If, as a result of the application of such dispute resolution procedures, the Breaching Party
is determined to be in breach of one or more of its material obligations under this Agreement (an “Adverse Ruling”), then if the Breaching Party fails to complete the actions specified by the Adverse Ruling to cure such breach
within [...***...] ([...***...]) days after such ruling, or if such compliance cannot be fully achieved within such [...***...] ([...***...]) day period and the Breaching Party has failed to commence compliance or has failed
to use diligent efforts to achieve full compliance as soon thereafter as is reasonably possible, then the Non-Breaching Party may terminate this Agreement upon written notice to the Breaching Party. 

12.2.2 Material Breach Related to Diligence in a Single Country. Notwithstanding Section 12.2.1, if the breach and
failure to cure contemplated by Section 12.2.1 is with respect to Abbott’s Commercialization diligence obligations under Section 4.3 or Abbott’s Development or Regulatory diligence obligations under Section 3.4, with respect
to only one of the United States or any Major Market country, Galapagos shall not have the right to terminate this Agreement in its entirety, but shall have the right to terminate this Agreement solely with respect to the country for which breach
and failure to cure applies. 
 12.3 Additional Termination Rights by Abbott. 

12.3.1 For Technical Reasons. Abbott may terminate this Agreement (i) on a country or other
jurisdiction-by-country or other jurisdiction basis, effective immediately upon written notice to Galapagos if a Compound Failure occurs affecting such country(ies) or jurisdiction(s); or (ii) in its entirety, if following the procedure set
forth in Section 5.1, Abbott notifies Galapagos that the Phase 2B RA Success Criteria have not been met and wishes to exercise its termination rights (the termination right in this Section 12.3.1(ii) being the “Abbott No-Exercise
Right”). 

  
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 12.3.2 For Convenience. Abbott may terminate this Agreement in its
entirety, or on a country or other jurisdiction-by-country or other jurisdiction basis, for any or no reason, upon [...***...] ([...***...]) days’ prior written notice to Galapagos, provided that the termination right under
this Section 12.3.2 shall not be exercisable during the Review Period. 
 12.4 Termination for Bankruptcy, Insolvency or Similar
Event. If either Party (i) becomes the subject, whether voluntarily or involuntarily, of any bankruptcy, insolvency, receivership or similar proceeding, provided that any involuntary proceeding is not subject to dismissal or appeal within
the judicial time periods for such actions; (ii) makes an assignment for the benefit of creditors; (iii) appoints or suffers appointment of a receiver or trustee over substantially all of its property; (iv) proposes a written
agreement of composition, arrangement, readjustment or extension of its debts; (v) proposes or is a party to any dissolution or liquidation or otherwise ceases to do business or winds up its affairs; (vi) admits in writing its inability to
meet its obligations as they fall due in the general course; or (vii) becomes subject to a warrant of attachment, execution, or distraint or similar process against substantially all of its property, then the other Party may terminate this
Agreement, in whole or in part and in its sole discretion, effective immediately upon written notice to such other Party as specified in Section 13.9 of this Agreement. The basis for such termination shall be breach for lack of performance of a
material obligation of this Agreement, subject to the Parties retaining rights in accordance with Section 12.5 hereinbelow. 
 12.5
Rights in Bankruptcy. 
 12.5.1 Applicability of 11 U.S.C. § 365(n). All rights and licenses (collectively,
the “Intellectual Property”) granted under or pursuant to this Agreement, including, without limitation, all rights and licenses to use improvements or enhancements developed during the term of this Agreement, are intended to be,
and shall otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code (the “Bankruptcy Code”) or any analogous provisions in any other country or jurisdiction, licenses of rights to
“intellectual property” as defined under Section 101(35A) of the Bankruptcy Code. The Parties agree that the licensee of such Intellectual Property under this Agreement, shall retain and may fully exercise all of its rights and
elections under the Bankruptcy Code, including, but not limited to, Section 365(n) of the Bankruptcy Code, or any analogous provisions in any other country or jurisdiction. All of the rights granted to either Party under this Agreement shall be
deemed to exist immediately before the occurrence of any bankruptcy case in which the other Party is the debtor. 

12.5.2 Rights of non-Debtor Party in Bankruptcy. If a bankruptcy proceeding is commenced by or against either Party
under the Bankruptcy Code or any analogous provisions in any other country or jurisdiction, the non-debtor Party shall be entitled to a complete duplicate of (or complete access to, as appropriate) any Intellectual Property and all embodiments of
such Intellectual Property, which, if not already in the non-debtor Party’s possession, shall be delivered to the non-debtor Party within [...***...] ([...***...]) business days of such request; provided, however, that
the debtor Party is excused from its obligation to deliver the Intellectual Property to the extent the debtor Party 

  
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continues to perform all of its obligations under this Agreement and the Agreement has not been rejected pursuant to the Bankruptcy Code or any analogous provision in any other country or
jurisdiction. 
 12.6 Termination in Entirety.  

12.6.1 In the event of a termination of this Agreement in its entirety by Abbott pursuant to Section 12.3
(Additional Termination Rights by Abbott) or by Galapagos pursuant to Section 12.2.1 (Material Breach), or expiration of this Agreement under Section 12.1.1(i): 

(i) all rights and licenses granted by Galapagos hereunder shall immediately terminate; 

(ii) all rights and licenses granted by Abbott hereunder shall immediately terminate; and 

(iii) Abbott shall, and hereby does, effective as of the effective date of termination, grant Galapagos an exclusive and
irrevocable option to acquire an exclusive or a non-exclusive license, with the right to grant multiple tiers of sublicenses, under the Abbott Grantback Patents, Abbott Grantback Know-How, Abbott’s rights under the Joint Patents, and the
Product Trademark to Exploit in the Territory any Licensed Product that is the subject of Development or Commercialization in the Territory and contains the Licensed Compound as the sole active ingredient, as such Licensed Product exists as of the
effective date of termination (“Grantback Option”); provided that (i) the foregoing shall exclude any option to license with respect to any active ingredient that is not a Licensed Compound and which is covered by
Patents Controlled by Abbott or any of its Affiliates; (ii) Galapagos shall be responsible for (A) making any payments (including royalties, milestones and other amounts) payable by Abbott to Third Parties under any Third Party agreements
with respect to the Abbott Grantback Patents and Abbott Grantback Know-How that are the subject of the license granted by Abbott to Galapagos pursuant to this Section and to the extent that the payments relate to the Licensed Compounds and Licensed
Products, if any, by making such payments directly to Abbott and, in each instance, Galapagos shall make the requisite payments to Abbott and provide the necessary reporting information to Abbott in sufficient time to enable Abbott to comply with
its obligations under such Third Party agreements, and (B) complying with any other obligations included in any such Third Party agreements that are applicable to the grant to Galapagos of such license or to the exercise of such license by
Galapagos or any of its Affiliates or sublicensees; and (iii) Abbott shall be responsible for paying or providing to any such Third Party any payments or reports made or provided by Galapagos. Galapagos may exercise its Grantback Option by
providing written notice to Abbott within [...***...] ([...***...]) days from the termination effective date. If Galapagos exercises its Grantback Option, the Parties shall negotiate in good faith a Transition Agreement that will include
commercially reasonable financial consideration. If, despite good faith discussions, the Parties are unable to agree on the terms of an agreement, including commercially reasonable financial consideration, then either Party shall have the option to
invoke the arbitration proceedings pursuant to Section 13.8 within [...***...] ([...***...]) days after the Grantback Option expired. 

  
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 12.6.2 In the event of a termination of this Agreement in its entirety by
Abbott pursuant to Section 12.2.1 (Material Breach): 
 (i) all rights and licenses granted by Abbott hereunder shall
immediately terminate; and 
 (ii) all rights and licenses granted to Abbott hereunder shall become exclusive or
non-exclusive (at Abbott’s sole option), irrevocable, unrestricted, and perpetual rights and licenses and the Parties shall mutually agree, in good faith, in writing the consideration Galapagos shall receive for the aforementioned license. If,
despite good faith discussions, the Parties are unable to agree on the consideration, then the dispute shall be resolved pursuant to Section 13.8. 

12.7 Termination of Terminated Territory. In the event of a termination of this Agreement with respect to a country or other
jurisdiction by Abbott pursuant to Section 12.3 or with respect to a Terminated Territory by Galapagos pursuant to Section 12.2.2 (Material Breach Related to Diligence in a Single Country), but not in the case of any termination of this
Agreement in its entirety: 
 12.7.1 all rights and licenses granted by Galapagos hereunder (i) shall
automatically be deemed to be amended to exclude, if applicable, the right to market, promote, detail, distribute, import, export, sell, offer for sale, file any Drug Approval Application for, or seek any Regulatory Approval for Licensed Compound or
Licensed Products in such Terminated Territory, and the right to Manufacture Licensed Compound and Licensed Product solely for sale in the Terminated Territory, but (ii) shall otherwise survive and continue in effect outside such Terminated
Territory; 
 12.7.2 Abbott shall, and hereby does, effective as of the effective date of termination, grant
Galapagos an exclusive and irrevocable option to acquire an exclusive or a non-exclusive, royalty-bearing license, with the right to grant multiple tiers of sublicenses, under the Abbott Grantback Patents, Abbott Grantback Know-How, Abbott’s
rights under the Joint Patents, and the Product Trademark to Exploit solely in such Terminated Territory any Licensed Product that is or has been the subject of Development or Commercialization in the Territory and contains the Licensed Compound as
the sole active ingredient, as such Licensed Product exists as of the effective date of termination (“Grantback Option to the Terminated Territory”); provided that: (i) the foregoing license shall exclude any license or
other rights with respect to any active ingredient that is not a Licensed Compound and which is covered by Patents Controlled by Abbott; (ii) Galapagos shall be responsible for (A) making any payments (including royalties, milestones, and
other amounts) payable by Abbott to Third Parties under any Third Party agreements with respect to the Abbott Grantback Patents and Abbott Grantback Know-How that are the subject of the license granted by Abbott to Galapagos pursuant to this
Section 12.7.2 and to the extent that the payments relate to the Licensed Compounds and Licensed Products, by making such payments directly to Abbott and, in each instance, Galapagos shall make the requisite payments to Abbott and provide the
necessary reporting information to Abbott in sufficient time to enable Abbott to comply with its obligations under such Third Party agreements, and (B) complying with any other obligations included in any such Third Party agreements that are
applicable to the grant to Galapagos of such license or to the exercise of such license by Galapagos or any of its Affiliates or sublicensees; and (iii) Abbott shall be responsible for 

  
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paying or providing to any such Third Party any payments or reports made or provided by Galapagos under this Section 12.7.2. If Galapagos exercises its Grantback Option to the Terminated
Territory, the Parties shall negotiate in good faith a Transition Agreement (as set forth in Section 12.8) which will include commercially reasonable financial consideration. If, despite good faith discussions, the Parties are unable to agree
on the terms of a Transition Agreement under this Section 12.7.2, then either Party shall have the option to invoke the arbitration proceedings pursuant to Section 13.8 within [...***...] ([...***...]) days after the Grantback
Option to the Terminated Territory expired. 
 12.8 Transition Agreement. 

12.8.1 In the event of termination of this Agreement, whether in its entirety or with respect to the Terminated
Territory, Galapagos and Abbott shall negotiate in good faith the terms and conditions of a written transition agreement (the “Transition Agreement”) pursuant to which Abbott and Galapagos will effectuate and coordinate a smooth and
efficient transition of relevant obligations and rights to Galapagos as reasonably necessary for Galapagos to exercise its licenses pursuant to Section 12.6 and Section 12.7 with respect to the Licensed Products after termination of this
Agreement (in its entirety or with respect to the Terminated Territory, as applicable) as and to the extent set forth in this Article 12. For clarity, except as set forth in Section 3.5.1(ii), Abbott shall not be required to manufacture or have
manufactured the Licensed Products by or on behalf of Galapagos as part of the Transition Agreement. 
 12.8.2 The
Transition Agreement shall provide that in the event of a termination of this Agreement in its entirety by Abbott pursuant to Section 12.3 or by Galapagos in its entirety pursuant to Section 12.2.1 or Section 12.2.2, Abbott shall:

 (i) where permitted by Applicable Law, transfer to Galapagos all of its right, title, and interest in all Regulatory
Documentation then owned or Controlled by Abbott or its Affiliates or Sublicensees and in its/their name applicable to the Licensed Products in the Territory that are the subject of an exclusive license grant in Section 12.6.1(iii); 

(ii) notify the applicable Regulatory Authorities and take any other action reasonably necessary to effect the transfer set
forth in clause (i) above; 
 (iii) unless expressly prohibited by any Regulatory Authority, transfer control to
Galapagos of all Clinical Studies being Conducted by Abbott or its Affiliates or Sublicensees as of the effective date of termination and continue to conduct such Clinical Studies, at Galapagos’ cost, for up to [...***...]
([...***...]) months to enable such transfer to be completed without interruption of any such Clinical Study; provided that (A) Galapagos shall not have any obligation to continue any Clinical Study unless required by Applicable
Law, and (B) with respect to each Clinical Study for which such transfer is expressly prohibited by the applicable Regulatory Authority, if any, Abbott shall continue to conduct such Clinical Study to completion, at Galapagos’ cost; 

(iv) assign (or cause its Affiliates or Sublicensees to assign) to Galapagos all agreements with any Third Party with respect
to the conduct of pre-clinical Development activities, Clinical Studies or Manufacturing activities (if Abbott or its Affiliates or Sublicensees have undertaken any Manufacturing activities prior to 

  
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proceeding with the In-Licensing) for the Licensed Products, including agreements with contract research organizations, clinical sites, and investigators, unless, with respect to any such
agreement, (a) Galapagos declines such assignment, or (b) such agreement (A) expressly prohibits such assignment, in which case Abbott shall cooperate with Galapagos in reasonable respects to secure the consent of the applicable Third
Party to such assignment, or (B) covers Clinical Studies for Combination Products in which any active ingredient that is not a Licensed Compound is covered by Patents Controlled by Abbott or any of its Affiliates or covers products covered by
Patents Controlled by Abbott or any of its Affiliates in addition to the Licensed Products, in which case Abbott shall, at Galapagos’ sole cost and expense, cooperate with Galapagos in all reasonable respects to facilitate the execution of a
new agreement between Galapagos and the applicable Third Party. 
 12.8.3 The Transition Agreement shall provide that
in the event of a termination of this Agreement with respect to a country or other jurisdiction by Abbott pursuant to Section 12.3 or with respect to a Terminated Territory by Galapagos pursuant to Section 12.2.2 (but not in the case of
any termination of this Agreement in its entirety), Abbott shall: 
 (i) where permitted by Applicable Law, transfer to
Galapagos all of its right, title, and interest in all Regulatory Approvals owned by, and/or in the name of, Abbott or its Affiliates or Sublicensees, which Regulatory Approvals are solely applicable to the Terminated Territory and to the Licensed
Products that are the subject of an exclusive license grant in Section 12.7.2, as such Regulatory Approvals exists as of the effective date of such termination of this Agreement with respect to such Terminated Territory; provided that
Abbott retains a license and right of reference under any Regulatory Approval transferred pursuant to this clause as necessary or reasonably useful for Abbott to Commercialize Licensed Products in the Territory, Develop Licensed Products in support
of such Commercialization, or Manufacture Licensed Products in support of such Development or Commercialization; 
 (ii)
notify the applicable Regulatory Authorities and take any other action reasonably necessary to effect the transfer set forth in clause (i) above; 

(iii) grant Galapagos a right of reference to all Regulatory Documentation then owned by, and/or in the name of, Abbott or its
Affiliates or Sublicensees, and which Regulatory Documentation is not transferred to Galapagos pursuant to clause (i) above, and is necessary or reasonably useful for Galapagos, any of its Affiliates or sublicensees to Develop or Commercialize
any Licensed Products that are the subject of the license grant in Section 12.7.2, as such Regulatory Documentation exists as of the effective date of such termination of this Agreement with respect to such Terminated Territory. 

12.9 Existing Inventory. Notwithstanding the termination of Abbott’s licenses and other rights under this Agreement or with
respect to a particular Major Market or country(ies) or other jurisdiction(s), as the case may be, but subject to the terms of any Transition Agreement, Abbott shall have the right for [...***...] after the effective date of such termination
with respect to each Major Market or country(ies) or other jurisdiction(s) with respect to which such termination applies to sell or otherwise dispose of all Licensed Compound or Licensed Product 

  
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then in its inventory and any in-progress inventory, in each case that is intended for sale or disposition in such Major Market or country(ies) or other jurisdiction(s), as though this Agreement
had not terminated with respect to such Major Market or country(ies) or other jurisdiction(s), and such sale or disposition shall not constitute infringement of Galapagos’ or its Affiliates’ Patent or other intellectual property or other
proprietary rights. For the avoidance of doubt, Abbott shall continue to make payments thereon as provided in Article 6 (as if this Agreement had not terminated with respect to such Major Market or country or other jurisdiction). 

12.10 Remedies. Except as otherwise expressly provided herein, termination of this Agreement (either in its entirety or with respect
to one or more country(ies) or other jurisdiction(s)) in accordance with the provisions hereof shall not limit remedies that may otherwise be available in law or equity. 

12.11 Accrued Rights; Surviving Obligations. Termination or expiration of this Agreement (either in its entirety or with respect to
one or more country(ies) or other jurisdiction(s)) for any reason shall be without prejudice to any rights that shall have accrued to the benefit of a Party prior to such termination or expiration. Such termination or expiration shall not relieve a
Party from obligations that are expressly indicated to survive the termination or expiration of this Agreement. Without limiting the foregoing, Sections 3.9, 6.8, 7.1, 7.7, 7.8, and Articles 1, 9, 11, 12, and 13 of this Agreement, and all Sections
necessary to effectuate the interpretation of such surviving Sections and Articles, shall survive the termination or expiration of this Agreement for any reason. If this Agreement is terminated with respect to the Terminated Territory but not in its
entirety, then following such termination the foregoing provisions of this Agreement shall remain in effect with respect to the Terminated Territory (to the extent they would survive and apply if the Agreement expires or is terminated in its
entirety), and all provisions not surviving in accordance with the foregoing shall terminate upon termination of this Agreement with respect to the Terminated Territory and be of no further force and effect (and for the avoidance of doubt all
provisions of this Agreement shall remain in effect with respect to all countries in the Territory other than the Terminated Territory). 

ARTICLE 13 

MISCELLANEOUS 
 13.1
Force Majeure. Neither Party shall be held liable or responsible to the other Party or be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement when such failure or
delay is caused by or results from events beyond the reasonable control of the non-performing Party, including fires, floods, earthquakes, hurricanes, embargoes, shortages, epidemics, quarantines, war, acts of war (whether war be declared or not),
terrorist acts, insurrections, riots, civil commotion, strikes, lockouts, or other labor disturbances (whether involving the workforce of the non-performing Party or of any other Person), acts of God or acts, omissions or delays in acting by any
governmental authority (except to the extent such delay results from the breach by the non-performing Party or any of its Affiliates of any term or condition of this Agreement). The non-performing Party shall notify the other Party of such force
majeure within [...***...] ([...***...]) days after such occurrence by giving written notice to the other Party stating the nature of the event, its anticipated duration, and any action being taken to avoid or minimize its effect. The
suspension of performance shall be of no greater scope and no longer duration than is necessary and the non-performing Party shall use Commercially Reasonable Efforts to remedy its inability to perform. 

  
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 13.2 Change in Control of Galapagos. 

13.2.1 Galapagos (or its successor) shall provide Abbott with written notice of any Change in Control of Galapagos
within [...***...] ([...***...]) Business Days following the closing date of such transaction. 
 13.2.2
In the event of a Change in Control of Galapagos, then Abbott shall have the right, in its sole and absolute discretion, by written notice delivered to Galapagos (or its successor) at any time during the [...***...] ([...***...]) days
following the written notice contemplated by Section 13.2.1, to terminate this Agreement in its entirety; or, alternatively, to require any one or more of the following actions: (i) if Change of Control occurs after Abbott proceeds with the
In-Licensing, the Parties shall disband each of the Joint Committees and terminate the activities of each of the Joint Committees and thereafter undertake all activities assigned by this Agreement to any of the Joint Committees solely and
exclusively by itself; (ii) Galapagos and the Change in Control party shall adopt reasonable procedures to be agreed upon in writing to prevent disclosure of Confidential Information of Abbott; and (iii) if Galapagos has not exercised its
Co-Promotion Option as of such Change in Control, terminate the Co-Promotion Option, and if Galapagos has exercised its Co-Promotion Option as of such Change in Control, terminate Galapagos’ right to co-promote any Co-Promotion Products in the
Co-Promotion Territory. If Galapagos’ right to co-promote any Co-Promotion Products in the Co-Promotion Territory pursuant to this Section is terminated, Section 6.6 shall apply to Net Sales of Licensed Product in the terminated
Co-Promotion Territory, and Section 6.9 shall be of no further force or effect. 
 13.3 Potential Competition Review. 

13.3.1 Tolling of Payment Obligations. If the act of Abbott proceeding with the In-Licensing requires the making
of filings under the Hart-Scott-Rodino Antitrust Improvements Act (the “HSR Act”), or under any similar pre-merger or antitrust notification provision in the European Union or any other jurisdiction, or if Abbott’s election not
to proceed with the In-Licensing results in Galapagos being required to make any filings under the HSR Act or under any similar pre-merger or antitrust notification provision in the European Union or any other jurisdiction, then all rights and
obligations related to Abbott proceeding with the In-Licensing or Abbott’s decision not to proceed with the In-Licensing will be tolled until the applicable waiting period has expired or been terminated or until approval or clearance from the
reviewing authority has been received, and each Party agrees to diligently make any such filings and respond to any request for information to expedite review of such transaction and minimize or avoid any delays in payments. 

13.3.2 Resolution of Regulatory Authority Opposition. If the antitrust enforcement authorities in the U.S. make
a second request under the HSR Act, or any antitrust enforcement authority in another jurisdiction commences an investigation related to Abbott proceeding with the In-Licensing or decision by Abbott not to proceed with the In-Licensing, then the
Parties will, in good faith, cooperate with each other and take reasonable actions to attempt to: (a) resolve all enforcement agency concerns about the transaction under investigation; and (b) diligently oppose any enforcement agency
opposition to such transaction. If the enforcement agency files a formal action to oppose the transaction, the Parties will confer in 

  
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good faith to determine the appropriate strategy for resolving the enforcement agency opposition, including without limitation, and where appropriate, the renegotiation of their obligations under
this Agreement with respect to the In-Licensing, with the objective of placing each Party, to the maximum extent possible, in the same economic position that each Party would have occupied if Abbott’s decision to proceed with the In-Licensing
or not to proceed with the In-Licensing had been permitted. Notwithstanding the foregoing, nothing in this Section 13.3 will require either Party to divest, sell, license or otherwise dispose of any assets, entities or facilities. 

13.4 Export Control. This Agreement is made subject to any restrictions. concerning the export of products or technical information
from the United States or other countries that may be imposed on the Parties from time to time. Each Party agrees that it will not export, directly or indirectly, any technical information acquired from the other Party under this Agreement or
any products using such technical information to a location or in a manner that at the time of export requires an export license or other governmental approval, without first obtaining the written consent to do so from the appropriate agency or
other governmental entity in accordance with Applicable Law. 
 13.5 Assignment. 

13.5.1 Without the prior written consent of the other Party, neither Party shall sell, transfer, assign, delegate,
pledge, or otherwise dispose of, whether voluntarily, involuntarily, by operation of law or otherwise, this Agreement or any of its rights or duties hereunder; provided, however, that (subject to Section 13.2) either Party may make such
an assignment without the other Party’s consent to its Affiliate or to a successor, whether in a merger, sale of stock, sale of assets or any other transaction, of the business to which this Agreement relates. With respect to an assignment to
an Affiliate, the assigning Party shall remain responsible for the performance by such Affiliate of the rights and obligations hereunder. Any attempted assignment or delegation in violation of this Section 13.5 shall be void and of no effect. All
validly assigned and delegated rights and obligations of the Parties hereunder shall be binding upon and inure to the benefit of and be enforceable by and against the successors and permitted assigns of Galapagos or Abbott, as the case may be. The
permitted assignee or transferee shall assume all obligations of its assignor or transferor under this Agreement. Without limiting the foregoing, the grant of rights set forth in this Agreement shall be binding upon any successor or permitted
assignee of Galapagos, and the obligations of Abbott, including the payment obligations, shall run in favor of any such successor or permitted assignee of Galapagos’ benefits under this Agreement. 

13.5.2 Abbott Laboratories announced on October 19, 2011 that it intends to separate into two publicly traded
companies: (1) a diversified medical products company, that will retain the name Abbott Laboratories, and (2) a research-based pharmaceutical company that will be named later (“Pharmaco”). Galapagos hereby consents to the
transfer or assignment of Abbott’s rights and obligations under this Agreement to Abbott Laboratories, Pharmaco or a subsidiary of either company in connection with or in anticipation of the separation, and notwithstanding anything to the
contrary that may be contained in this Agreement, such transfer or assignment shall not violate, constitute a breach of, result in any additional obligations or loss of rights under, or give rise to any right to terminate or cancel this Agreement.
Following such transfer or assignment, the person to whom such rights and obligations are transferred or assigned shall have all rights and all obligations of Abbott under this Agreement, and Abbott shall have no further obligations

  
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under this Agreement. Notwithstanding anything to the contrary that may be contained in this Agreement, no consent or notice shall be required for the direct or indirect transfer of any equity of
Abbott to Pharmaco, Abbott Laboratories or a subsidiary of either company in connection with or anticipation of the separation, and such transfer shall not violate, constitute a breach of, result in any additional obligations or loss of rights
under, or give rise to any right to terminate or cancel this Agreement. 
 13.5.3 The rights to Information,
materials and intellectual property: (i) controlled by a Third Party permitted assignee of a Party, which Information, materials and intellectual property were controlled by such assignee immediately prior to such assignment; or
(ii) controlled by an Affiliate of a Party who becomes an Affiliate through any Change in Control of or by such Party, which Information, materials and intellectual property were controlled by such Affiliate immediately prior to such Change in
Control, in each case ((i) and (ii)), shall be automatically included with the rights licensed or granted to the other Party under this Agreement. 

13.6 Severability. If any provision of this Agreement is held to be illegal, invalid, or unenforceable under any present or future
law, and if the rights or obligations of either Party under this Agreement will not be materially and adversely affected thereby, (i) such provision shall be fully severable, (ii) this Agreement shall be construed and enforced as if such
illegal, invalid, or unenforceable provision had never comprised a part hereof, (iii) the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision
or by its severance herefrom, and (iv) in lieu of such illegal, invalid, or unenforceable provision, there shall be added automatically as a part of this Agreement a legal, valid, and enforceable provision as similar in terms to such illegal,
invalid, or unenforceable provision as may be possible and reasonably acceptable to the Parties. To the fullest extent permitted by Applicable Law, each Party hereby waives any provision of law that would render any provision hereof illegal,
invalid, or unenforceable in any respect. 
 13.7 Governing Law, Jurisdiction and Service. 

13.7.1 Governing Law. This Agreement or the performance, enforcement, breach or termination hereof shall be
interpreted, governed by and construed in accordance with the laws of the State of New York, United States, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the
substantive law of another jurisdiction; provided, that all questions concerning the construction or effect of patent applications and patents shall be determined in accordance with the laws of the country or other jurisdiction in which the
particular patent application or patent has been filed or granted, as the case may be. The Parties agree to exclude the application to this Agreement of the United Nations Convention on Contracts for the International Sale of Goods. 

13.7.2 Service. Each Party further agrees that service of any process, summons, notice or document by registered mail
to its address set forth in Section 13.9.2 shall be effective service of process for any action, suit, or proceeding brought against it under this Agreement in any such court. 

13.8 Dispute Resolution. Except for disputes resolved by the procedures set forth in Section 2.4.3 or Section 6.18, if a dispute
arises between the Parties in connection with or relating to this Agreement or any document or instrument delivered in connection herewith (a “Dispute”), it shall be resolved pursuant to this Section 13.8. 

  
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 - 79 - 

 13.8.1 General. Any Dispute shall be first referred to the Senior
Officers of the Parties, who shall confer in good faith on the resolution of the issue. Any final decision mutually agreed to by the Senior Officers shall be conclusive and binding on the Parties. If the Senior Officers are not able to agree on the
resolution of any such issue within [...***...] ([...***...]) days (or such other period of time as mutually agreed by the Senior Officers) after such issue was first referred to them, then, except as otherwise set forth in Section
2.4.3, either Party may, by written notice to the other Party, elect to initiate an alternative dispute resolution (“ADR”) proceeding pursuant to the procedures set forth in Section 13.8.2 for purposes of having the matter settled.

 13.8.2 ADR. Any ADR proceeding under this Agreement shall take place pursuant to the procedures set forth in
Schedule 13.8.2. 
 13.9 Notices. 

13.9.1 Notice Requirements. Any notice, request, demand, waiver, consent, approval, or other communication permitted or
required under this Agreement shall be in writing, shall refer specifically to this Agreement and shall be deemed given only if (i) delivered by hand, (ii) sent by facsimile transmission (with transmission confirmed), or (iii) by
internationally recognized overnight delivery service that maintains records of delivery, addressed to the Parties at their respective addresses specified in Section 13.9.2 or to such other address as the Party to whom notice is to be given may have
provided to the other Party in accordance with this Section 13.9.1. Such Notice shall be deemed to have been given as of the date delivered by hand or transmitted by facsimile (with transmission confirmed) or on the second Business Day (at the place
of delivery) after deposit with an internationally recognized overnight delivery service. Any notice delivered by facsimile shall be confirmed by a hard copy delivered as soon as practicable thereafter. This Section 13.9.1 is not intended to govern
the day-to-day business communications necessary between the Parties in performing their obligations under the terms of this Agreement. 

13.9.2 Address for Notice. 

(i)        If to Abbott, to: 

Abbott Hospitals Limited 

c/o Abbott Laboratories 

100 Abbott Park Road 

Abbott Park, Illinois 60064-3500 

Attn: Senior Vice President, Global Pharmaceutical Research and 

Development 

Facsimile: [...***...] 

With a copy (which shall not constitute notice) to: 

Abbott Laboratories 

Pharmaceutical Products Group Legal Operations 

Bldg. AP6A-2 

100 Abbott Park Road 

Abbott Park, Illinois 60064-3500 USA. 

Attn: DVP & Associate General Counsel 

Facsimile: [...***...] 

  
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 - 80 - 

 (ii)        If to Galapagos, to: 

Galapagos NV 

Generaal de Wittelaan 

L11A3, B2800 Mechelen, Belgium 

Attention: CEO 

Facsimile: [...***...] 

with a copy (which shall not constitute notice) to: 

Galapagos NV 

Generaal de Wittelaan 

L11A3, B2800 Mechelen, Belgium 

Attention: Legal Department 

Facsimile: [...***...] 

13.10 Entire Agreement; Amendments. This Agreement, together with the Schedules attached hereto, and the Confidential Disclosure
Agreement among Galapagos and Abbott Laboratories dated 24 January 2012, sets forth and constitutes the entire agreement and understanding between the Parties with respect to the subject matter hereof and all prior agreements, understandings,
promises, and representations, whether written or oral, with respect thereto are superseded hereby (including, but not limited to, that certain Confidential Disclosure Agreement between the Parties or their respective Affiliates dated
September 21, 2010 as amended on October 12, 2011). Each Party confirms that it is not relying on any representations or warranties of the other Party except as specifically set forth in this Agreement. No amendment, modification, release,
or discharge shall be binding upon the Parties unless in writing and duly executed by authorized representatives of both Parties. 

13.11 English Language. This Agreement shall be written and executed in, and all other communications under or in connection with this
Agreement shall be in, the English language. Any translation into any other language shall not be an official version thereof, and in the event of any conflict in interpretation between the English version and such translation, the English version
shall control. 
 13.12 Waiver and Non-Exclusion of Remedies. Any term or condition of this Agreement may be waived at any time by
the Party that is entitled to the benefit thereof, but no such waiver shall be effective unless set forth in a written instrument duly executed by or on behalf of the Party waiving such term or condition. The waiver by either Party hereto of any
right hereunder or of the failure to perform or of a breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by such other Party whether of a similar nature or otherwise. The rights and
remedies provided herein are cumulative and do not exclude any other right or remedy provided by Applicable Law or otherwise available except as expressly set forth herein. 

  
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 13.13 No Benefit to Third Parties. Except as provided in Article 11, the covenants and
agreements set forth in this Agreement are for the sole benefit of the Parties hereto and their successors and permitted assigns, and they shall not be construed as conferring any rights on any other Persons. 

13.14 Further Assurance. Each Party shall duly execute and deliver, or cause to be duly executed and delivered, such further
instruments and do and cause to be done such further acts and things, including the filing of such assignments, agreements, documents, and instruments, as may be necessary or as the other Party may reasonably request in connection with this
Agreement or to carry out more effectively the provisions and purposes hereof, or to better assure and confirm unto such other Party its rights and remedies under this Agreement. 

13.15 Relationship of the Parties. It is expressly agreed that Galapagos, on the one hand, and Abbott, on the other hand, shall be
independent contractors and that the relationship between the two Parties shall not constitute a partnership, joint venture, or agency. Neither Galapagos, on the one hand, nor Abbott, on the other hand, shall have the authority to make any
statements, representations, or commitments of any kind, or to take any action, which shall be binding on the other, without the prior written consent of the other Party to do so. All persons employed by a Party shall be employees of such Party and
not of the other Party and all costs and obligations incurred by reason of any such employment shall be for the account and expense of such Party. 

13.16 Performance by Affiliates. Each Party may use one or more of its Affiliates to perform its obligations and duties hereunder and
such Affiliates are expressly granted certain rights herein; provided that each such Affiliate shall be bound by the corresponding obligations of such Party and, subject to an assignment to such Affiliate pursuant to Section 13.5, Abbott shall
remain liable hereunder for the prompt payment and performance of all its payment obligations hereunder. 
 13.17 Counterparts;
Facsimile Execution. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may be executed by
facsimile, .pdf or other electronically transmitted signatures and such signatures shall be deemed to bind each Party hereto as if they were original signatures. 

13.18 References. Unless otherwise specified, (i) references in this Agreement to any Article, Section or Schedule shall mean
references to such Article, Section or Schedule of this Agreement, (ii) references in any Section to any clause are references to such clause of such Section, and (iii) references to any agreement, instrument, or other document in this
Agreement refer to such agreement, instrument, or other document as originally executed or, if subsequently amended, replaced, or supplemented from time to time, as so amended, replaced, or supplemented and in effect at the relevant time of
reference thereto. 
 13.19 Schedules. In the event of any inconsistencies between this Agreement and any schedules or other
attachments hereto, the terms of this Agreement shall control. 
 13.20 Construction. Except where the context otherwise requires,
wherever used, the singular shall include the plural, the plural the singular, the use of any gender shall be applicable to all genders and the word “or” is used in the inclusive sense (and/or). Whenever this Agreement refers to a number
of days, unless otherwise specified, such number refers to calendar 

  
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days. The captions of this Agreement are for convenience of reference only and in no way define, describe, extend, or limit the scope or intent of this Agreement or the intent of any provision
contained in this Agreement. The term “including,” “include,” or “includes” as used herein shall mean “including, but not limited to,” and shall not limit the generality of any description preceding such term.
The language of this Agreement shall be deemed to be the language mutually chosen by the Parties and no rule of strict construction shall be applied against either Party hereto. Each Party represents that it has been represented by legal counsel in
connection with this Agreement and acknowledges that it has participated in the drafting hereof. In interpreting and applying the terms and provisions of this Agreement, the Parties agree that no presumption will apply against the Party which
drafted such terms and provisions. 
 SIGNATURE PAGE FOLLOWS. 

  
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 THIS AGREEMENT IS EXECUTED by the authorized representatives of the Parties as of the Effective Date. 

 

									
	GALAPAGOS NV				ABBOTT HOSPITALS LIMITED
					
	By:		 /s/ Onno van de Stolpe
				By:		 /s/ Thomas C. Freyman

					
	Name:		 Onno van de Stolpe
				Name:		 Thomas C. Freyman

					
	Title:		 CEO
				Title:		 Director and President

  
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 Schedule 1.80 

Galapagos Corporate Names 
 Galapagos
Trademarks: 
  

											
	 Title
	  	 Country
	  	Filing date	  	Filing number	  	Registration date	  	Registration
number
	 [***]
	  	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]
	 [***]
	  	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]	  	[...***...]

 Galapagos logos: 

[...***...] 

  
 ***Confidential Treatment
Requested*** 

 Schedule 1.97 

Initial Development Plan and Budget for GLPG0634 in Rheumatoid Arthritis 

The following describes the clinical, pre-clinical, and CMC activities that will be performed as part of Initial Development Plan Activities as described in
the Collaboration Agreement between Galapagos NV and Abbott Hospitals Limited (“the Agreement”). 
 Summary timelines 

[...***...] 

  
 ***Confidential Treatment
Requested*** 
 1 

 Clinical 

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

  
 ***Confidential Treatment
Requested*** 
 2 

 Chemistry, Manufacturing and Control 

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

  
 ***Confidential Treatment
Requested*** 
 3 

 Non-clinical safety evaluation and pharmacokinetics 

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

  
 ***Confidential Treatment
Requested*** 
 4 

 Regulatory Affairs 

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

  
 ***Confidential Treatment
Requested*** 
 5 

 Budget 

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

  
 ***Confidential Treatment
Requested*** 
 6 

 Schedule 1.118 

Manufacturing Cost 
 [...***...].

  
 ***Confidential Treatment
Requested*** 

 Schedule 1.142 

Phase 2B RA Success Criteria 
  

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

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

  
 ***Confidential Treatment
Requested*** 

 Schedule 6.10.1 

Sample Net Profits/Net Losses Calculation 

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

  
 ***Confidential Treatment
Requested*** 

 Schedule 9.5 

Form of Press Release 
 CONFIDENTIAL *
DRAFT RELEASE * NOT FOR DISTRIBTION 
 Abbott and Galapagos Announce Global Collaboration to Develop and Commercialize Novel Oral Therapy GLPG0634 to
Treat Autoimmune Diseases 
 Selective JAK1 inhibitor in Phase II clinical development for RA 

Abbott to Retain Exclusive Global Commercial Rights with Galapagos co-promotion in Benelux Countries 

Galapagos to Receive Upfront Payment of $150 Million, with the Potential for Significant Milestone Payments 

Abbott Park, Illinois and Mechelen, Belgium XX DATE 2012 – Abbott (NYSE: ABT) and Galapagos (Euronext: GLPG) announced today that they have entered into
a global collaboration to develop and commercialize an oral, next-generation JAK1 inhibitor with the potential to treat multiple autoimmune diseases. 

GLPG0634 is a highly selective JAK1 inhibitor that Galapagos is developing for the treatment of rheumatoid arthritis (RA) and other inflammatory conditions.
The Janus kinases (JAK) are a family of enzymes that play a key role in the signaling mechanism used by a number of cytokines that are involved in inflammatory and autoimmune diseases. In previously reported results from a 4-week Phase IIa study,
GLPG0634 demonstrated efficacy measures among the best reported in RA. All patients completed the study, and few experienced any side effects. No anemia, change in blood pressure or lipids were observed. An additional Phase IIa dose-range finding
study with GLPG0634 is expected to begin shortly. 
 “The addition of this novel, oral compound offers patients the potential for advanced treatment
options and an improved patient experience to address RA and other autoimmune diseases,” said John Leonard, M.D., senior vice president, global research and development, Abbott. “Abbott’s expertise in immunology, combined with a
robust portfolio of investigational treatments represents promising innovation across several areas of medical need.” 
 “This collaboration with
Abbott, the global leader in inflammatory diseases, is a great recognition of the value of GLPG0634. We view Abbott to be the best partner possible to deliver a complete clinical program and a powerful market introduction. We are excited to continue
the phase II trials and expect to deliver to Abbott a complete Phase II package in 2014,” said Onno van de Stolpe, chief executive officer, Galapagos. “With GLPG0634 we have proven that we can deliver from target to clinical Proof of
Concept, and we aim to do the same on many novel target programs in our pipeline. This collaboration is transformational for Galapagos, providing the means to progress these innovative products into the clinic.” 

Under the terms of the agreement, Abbott will make an initial upfront payment of $150 million for rights related to the global collaboration. Upon successful
completion of the RA Phase II studies, Abbott will license the program for a one-time fee of $200 million if the studies meet certain pre-agreed criteria. Abbott will assume sole responsibility for Phase III clinical development and global
manufacturing. Pending achievement of certain developmental, regulatory, commercial and sales-based milestones, Galapagos would be eligible to receive additional milestone payments from Abbott, potentially amounting to $1.0 billion, in addition to
tiered double-digit royalties on net sales upon commercialization. Galapagos retains co-promotion rights in Belgium, the Netherlands and Luxembourg. 

  
 ***Confidential Treatment
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 Webcast presentation 

Galapagos will hold an audio webcast presentation for journalists, analysts, and investors today at 4 pm CET/US 

TIMES, viewable at www.glpg.com. 
 Call numbers: LIST
NUMBERS HERE 
 Galapagos Forward-Looking Statements 

This release may contain forward-looking statements, including, without limitation, statements containing the words “believes,”
“anticipates,” “expects,” “intends,” “plans,” “seeks,” “estimates,” “may,” “will,” “could,” “stands to,” and “continues,” as well as
similar expressions. Such forward-looking statements may involve known and unknown risks, uncertainties and other factors which might cause the actual results, financial condition, performance or achievements of Galapagos, or industry results, to be
materially different from any historic or future results, financial conditions, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, the reader is advised not to place any undue reliance on
such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. Galapagos expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any
change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based, unless required by law or regulation. 

About Galapagos 
 Galapagos (Euronext: GLPG; OTC:
GLPYY) is a mid-size biotechnology company specialized in the discovery and development of small molecule and antibody therapies with novel modes-of-action. The Company is progressing GLPG0634 through Phase II and has one of the largest pipelines in
biotech, with seven programs in development and over 50 discovery programs. The Galapagos Group has about 800 employees and operates facilities in six countries, with global headquarters in Mechelen, Belgium. More info at: www.glpg.com 

Abbott Forward-Looking Statements 
 Some statements in
this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to
differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott’s operations are discussed in Item 1A, “Risk Factors,” to our
Annual Report on Securities and Exchange Commission Form 10-K for the year ended Dec. 31, 2011, and are incorporated by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of
subsequent events or developments. 
 About Abbott 

Abbott (NYSE: ABT) is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical
products, including nutritionals, devices and diagnostics. The company employs approximately 91,000 people and markets its products in more than 130 countries. 

More information: 
 Abbott: 

Media: Adelle Infante, +1-847-938-8745 
 Investors: Larry Peepo,
+1-847-935-6722 
 Galapagos NV 
 Onno van de Stolpe, CEO 

Tel: +31 6 2909 8028 
 Elizabeth Goodwin, Director Investor
Relations 
 Tel: +31 6 2291 6240 
 ir@glpg.com 

  
 ***Confidential Treatment
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 Schedule 10.2.1 

Existing Patents 
 Part
A, Species Patents 
  

													
	 Country
	  	 Appln #
	  	 Filing date
	  	 Publn date
	  	 Publn #
	  	 Grant Date
	  	 Grant #

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

  
 ***Confidential Treatment
Requested*** 
 1 

													
	 Country
	  	 Appln #
	  	 Filing date
	  	 Publn date
	  	 Publn #
	  	 Grant Date
	  	 Grant #

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

 Part A, Species Patents (continued) 

[...***...] 

[...***...] 
  

							
	 Country
	  	 Application #
	  	 Filing date
	  	 Publication #

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

  
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 2 

 Part B, Genus Patents 

 

													
	 Country
	  	 Application #
	  	 Filing Date
	  	 Publn date
	  	 Publn Number
	  	 Grant Date
	  	 Grant Number

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

  
 ***Confidential Treatment
Requested*** 
 3 

 Part C, Third Party In-Licensed Patents 

As of the Effective Date, there are no Third Party In-Licensed Patents 

  
 ***Confidential Treatment
Requested*** 
 4 

 Schedule 13.8.2 

ADR Procedures 
 Any Dispute referred to
ADR under this Agreement shall be resolved as follows: 
 [...***...]. 

  
 ***Confidential Treatment
Requested*** 
 1 

 CONFIDENTIAL 

EXECUTION VERSION 

FIRST AMENDMENT TO 

COLLABORATION AGREEMENT 

This First Amendment to Collaboration Agreement (this “First Amendment”) is entered into as of April 12, 2013 (the
“First Amendment Effective Date”), by and between Galapagos NV, a corporation organized under the laws of Belgium and having a principal place of business at Generaal de Wittelaan L11A3, B2800 Mechelen, Belgium
(“Galapagos”), and AbbVie Bahamas Ltd. (formerly known as Abbott Hospitals Limited) [...***...] (“AbbVie”). Galapagos and AbbVie are sometimes referred to herein individually as a “Party” and
collectively as the “Parties.” Capitalized terms used and not otherwise defined herein shall have the meanings given to them in the Agreement (as defined herein). 

RECITALS 

WHEREAS, AbbVie and Galapagos are parties to that certain Collaboration Agreement, dated as of February 28, 2012 (the
“Agreement”), pursuant to which Galapagos granted AbbVie an exclusive right to obtain licenses under certain intellectual property Controlled by Galapagos in the Territory subject to the terms and conditions set forth therein; and

 WHEREAS, the Parties now desire to amend the Agreement on the terms set forth in this First Amendment to modify the Initial
Development Plan and Budget. 
 NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter
set forth, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows: 

AMENDMENT 
 1.
Definitions. The use of the defined term “Abbott” in the Agreement shall refer to AbbVie unless the context otherwise determines. 

2. Regulatory Diligence. Section 3.1.3 of the Agreement is hereby amended by replacing all uses of “[...***...]”
with “[...***...].” 
 3. Initial Development Plan and Budget Payment. Article 6 of the Agreement is hereby amended
by adding the following as Section 6.1A: 
 “6.1A Initial Development Plan and Budget Payment. No later than
[...***...] ([...***...]) days following the First Amendment Effective Date, in consideration of the amendments to the Initial Development Plan and Budget pursuant to the First Amendment, AbbVie shall pay Galapagos a one-time
non-refundable, non-creditable amount equal to Twenty Million Dollars ($20,000,000.00).” 

  
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4. Regulatory Milestones. The introductory sentence of Section 6.3 of the Agreement is hereby amended by replacing the words
“Lead Indication” with the words “Lead Compound.” 
 5. Initial Development Plan and Budget. Schedule
1.97 of the Agreement is hereby amended pursuant to the contents set forth in Schedule A attached hereto. Except as amended by Schedule A, Schedule 1.97 of the Agreement shall remain in full force and effect. 

6. Miscellaneous. Except as expressly amended by this First Amendment, all of the terms and conditions of the Agreement remain in full
force and effect. In the event of a conflict between the terms of this First Amendment and the terms of the Agreement, the terms of this First Amendment shall prevail. This First Amendment may be executed in two (2) original counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 [SIGNATURE PAGE FOLLOWS]

  
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 CONFIDENTIAL 

 
 THIS FIRST AMENDMENT is executed by the authorized representatives of the Parties as of
the First Amendment Effective Date. 
  

									
	GALAPAGOS NV				ABBVIE BAHAMAS LTD.
					
	By:		 /s/ Onno van de Stolpe
				By:		 /s/ William Chase

					
	Name:		 Onno van de Stolpe
				Name:		 William Chase

					
	Title:		 CEO
				Title:		 EVP and CFO

  
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 CONFIDENTIAL 

 
 Schedule A 

In Schedule 1.97 (Initial Development Plan and Budget for GLPG0634 in Rheumatoid Arthritis) of the Agreement, the following changes are made with effect as of
the First Amendment Effective Date: 
  

	(1)	In the chapter entitled “Clinical”, under the heading “[...***...]”: 

(a) in the paragraph entitled “[...***...]”: 
  

	 	(i)	the words “[...***...]” shall be deleted and replaced with the words “[...***...]”; 

  

	 	(ii)	the words “[...***...]” shall be deleted and replaced with the words “[...***...]”; and 

  

	 	(iii)	the words “[...***...]” shall be deleted and replaced with the words “[...***...]”. 

(b) in the paragraph entitled “[...***...]”: 
  

	 	(i)	the words “[...***...]” shall be deleted and replaced with the words “[...***...]”; 

  

	 	(ii)	the words “[...***...]” shall be deleted and replaced with the words “[...***...]”; and 

  

	 	(iii)	the words “[...***...]” shall be deleted and replaced with the words “[...***...]”. 

  

	(2)	In the chapter entitled “Budget” the following sentence shall be added below the table set forth in said chapter: 

“In consideration for the implementation of the changes in the chapter “Clinical” of Schedule 1.97 pursuant to the First
Amendment to the Agreement, AbbVie has agreed in said First Amendment to pay Galapagos a one-time non-refundable, non-creditable amount equal to Twenty Million Dollars ($20,000,000.00).” 

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 CONFIDENTIAL 

EXECUTION VERSION 

SECOND AMENDMENT TO 

COLLABORATION AGREEMENT 

This Second Amendment to Collaboration Agreement (this “Second Amendment”) is entered into as of May 16, 2013 (the
“Second Amendment Effective Date”), by and between Galapagos NV, a corporation organized under the laws of Belgium and having a principal place of business at Generaal de Wittelaan L11A3, B2800 Mechelen, Belgium
(“Galapagos”), and AbbVie Bahamas Ltd. [...***...] (“AbbVie”). Galapagos and AbbVie are sometimes referred to herein individually as a “Party” and collectively as the
“Parties.” Capitalized terms used and not otherwise defined herein shall have the meanings given to them in the Agreement (as defined herein). 

RECITALS 
 WHEREAS,
AbbVie and Galapagos are parties to that certain Collaboration Agreement, dated as of February 28, 2012, as amended by that certain First Amendment to Collaboration Agreement dated as of April 12, 2013 (collectively, the
“Agreement”), pursuant to which Galapagos granted AbbVie an exclusive right to obtain licenses under certain intellectual property Controlled by Galapagos in the Territory subject to the terms and conditions set forth therein; and

 WHEREAS, the Parties now desire to amend the Agreement on the terms set forth in this Second Amendment to: (i) include
delivery of the Crohn’s Disease Complete Data Package (as defined herein) to AbbVie by Galapagos; (ii) include a contingent payment from AbbVie to Galapagos for the delivery of the Crohn’s Disease Complete Data Package and achievement
of the Phase 2B Crohn’s Disease Success Criteria (as defined herein); and (iii) modify the Initial Development Plan and Budget to include Initial Development Activities related to the Crohn’s Disease Indication (as defined herein).

 NOW, THEREFORE, in consideration of the premises and the mutual promises and conditions hereinafter set forth, and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, do hereby agree as follows: 

AMENDMENT 
  

	 	1.	Definitions. 

  

	 	A.	Article 1 of the Agreement is hereby amended by adding the following as Section 1.31A: 

  

	 	  	“1.31A “CD/UC Payment” has the meaning set forth in Section 6.2.2.” 

  

	 	B.	Article 1 of the Agreement is hereby amended by adding the following as Section 1.50A: 

  
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 “1.50A “Crohn’s Disease Complete Data
Package” has the meaning set forth in Section 3.1.5.” 
  

	 	C.	Article 1 of the Agreement is hereby amended by adding the following as Section 1.50B: 

“1.50B “Crohn’s Disease Election” has the meaning set forth in Section 3.1.5.” 

 

	 	D.	Article 1 of the Agreement is hereby amended by adding the following as Section 1.50C: 

“1.50C “Crohn’s Disease Indication” means Crohn’s disease.” 

 

	 	E.	Article 1 of the Agreement is hereby amended by adding the following as Section 1.50D: 

“1.50D “Crohn’s Disease Review Notice” has the meaning set forth in Section 3.1.5.” 

 

	 	F.	Article 1 of the Agreement is hereby amended by adding the following as Section 1.50E: 

“1.50E “Crohn’s Disease Review Period” has the meaning set forth in Section 3.1.5.” 

 

	 	G.	Section 1.96 of the Agreement is hereby deleted in its entirety and replaced with the following: 

“1.96 “Initial Development Activities” means the Development activities (as further set forth in the Initial
Development Plan and Budget) to be performed by Galapagos in order to achieve the Phase 2B RA Success Criteria and the Phase 2B Crohn’s Disease Success Criteria.” 
  

	 	H.	Article 1 of the Agreement is hereby amended by adding the following as Section 1.141A: 

“1.141A “Phase 2B Crohn’s Disease Success Criteria” has the meaning set forth in Schedule
1.141A.” 
  

	 	I.	Article 1 of the Agreement is hereby amended by adding the following as Section 1.177A: 

“1.177A “Ulcerative Colitis Election” has the meaning set forth in Section 3.1.5.” 

  
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 CONFIDENTIAL 

 
 2. Crohn’s Disease Indication Regulatory Diligence. Article
3 of the Agreement is hereby amended by adding the following as Section 3.1.3A: 
 “3.1.3A Crohn’s Disease
Regulatory Diligence. Galapagos shall use Commercially Reasonable Efforts in undertaking the Development activities for the initial Licensed Product containing or comprising the Lead Compound for the Crohn’s Disease Indication in those
countries in the Territory set forth in the Initial Development Plan and Budget. Galapagos acknowledges that the exercise of its Commercially Reasonable Efforts as set forth in this Section 3.1.3A means that the provision by Galapagos to AbbVie
of the Crohn’s Disease Complete Data Package is expected by [...***...]. If Galapagos does not provide the Crohn’s Disease Complete Data Package by [...***...], upon Galapagos’ showing that such delay is due to causes
relating to Development or regulatory issues, AbbVie hereby agrees to extend such delayed date until such Development or regulatory issues are fully resolved in a reasonable period of time. If AbbVie alleges that Galapagos has failed to show that
such delay is due to Development or regulatory issues, then AbbVie shall have the option either to: (i) assume and complete some or all remaining Initial Development Activities pursuant to Section 3.1.2; or (ii) notify Galapagos of
such failure as an alleged material breach, subject to Section 12.2.1.” 
 3. Crohn’s Disease Complete Data Package.
Article 3 of the Agreement is hereby amended by adding the following as Section 3.1.5: 
 “3.1.5 Crohn’s
Disease Complete Data Package. Subject to the Initial Development Plan and Budget, Galapagos shall provide to AbbVie the final protocol and a detailed synopsis for each Clinical Study for the Crohn’s Disease Indication at least
[...***...] ([...***...]) days prior to initiating such study. Galapagos shall allow AbbVie a period of [...***...] ([...***...]) days from the date of AbbVie’s receipt of the same to review and comment on such protocol
and synopsis and Galapagos shall consider in good faith any comments of AbbVie, provided, however, if AbbVie fails to provide comments within such [...***...] ([...***...]) day period, then AbbVie shall be deemed to have approved such
protocol and synopsis. Within [...***...] ([...***...]) days after database lock of the Phase 2 Study for the Lead Compound in the Field of Crohn’s disease pursuant to the Initial Development Plan and Budget, Galapagos shall provide
AbbVie with a completion report, which report shall include all Information, Clinical Data, SAS charts and supporting documentation to support a decision on whether all Phase 2B Crohn’s Disease Success Criteria have been met, including,
finalized statistical analysis plan, along with a quality assurance statement certifying no quality issues limiting the validity of the Phase 2 Study were raised during the Conduct of the Phase 2 Study, and such other information as AbbVie may
reasonably request in connection with its evaluation of such data (“Crohn’s Disease Complete Data Package”). Upon AbbVie’s receipt of the Crohn’s Disease Complete Data Package, AbbVie shall have [...***...]
([...***...]) days (the “Crohn’s Disease Review Period”) to review and assess the Crohn’s 

  
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 CONFIDENTIAL 

 
 
Disease Complete Data Package and to make a good faith determination of whether all Phase 2B Crohn’s Disease Success Criteria have been met, and, no later than at the end of the Crohn’s
Disease Review Period, AbbVie shall notify Galapagos of such determination by providing written notice to Galapagos (the “Crohn’s Disease Review Notice”). In the event: (A) AbbVie notifies Galapagos through the
Crohn’s Disease Review Notice that: (i) all the Phase 2B Crohn’s Disease Success Criteria have been met; or (ii) AbbVie otherwise indicates in such notice its approval of the Crohn’s Disease Complete Data Package
irrespective of meeting all of the Phase 2B Crohn’s Disease Success Criteria; or, alternatively, (B) AbbVie initiates at any time a Phase 3 Clinical Study with the Lead Compound for the Crohn’s Disease Indication (each of subsections
(A)(i), (A)(ii) and (B) herein, a “Crohn’s Disease Election”), then AbbVie shall be required to pay Galapagos the CD/UC Payment following the first Crohn’s Disease Election pursuant to Section 6.2.2.
Notwithstanding the foregoing, in the event: (i) AbbVie does not proceed with a Crohn’s Disease Election; (ii) the data contained in the Crohn’s Disease Complete Data Package enables the initiation of a Phase 3 Clinical Study
without conducting or completing Phase 2 Clinical Studies for ulcerative colitis; and (iii) AbbVie initiates at any time a Phase 3 Clinical Study with the Lead Compound for ulcerative colitis (“Ulcerative Colitis Election”),
then AbbVie shall be required to pay Galapagos the CD/UC Payment pursuant to Section 6.2.2. For clarification, AbbVie shall not be required to pay the CD/UC Payment to Galapagos in the event AbbVie is required to conduct and complete a Phase 2
Clinical Study prior to initiating a Phase 3 Clinical Study for ulcerative colitis. Subject to Section 6.2.2, upon the first occurrence of a Crohn’s Disease Election or the Ulcerative Colitis Election AbbVie shall be permitted to further
Develop the Lead Compound for either or both of the Crohn’s Disease Indication or ulcerative colitis in its sole and absolute discretion.” 

4. In-Licensing and CD/UC Payments. Section 6.2 of the Agreement is hereby deleted in its entirety and replaced with the
following: 
 “6.2 In-Licensing and CD/UC Payments. 

6.2.1 In-Licensing Payment. No later than [...***...] ([...***...]) days following AbbVie proceeding with
the In-Licensing pursuant to Section 5.1, AbbVie shall pay Galapagos a one-time non-refundable, non-creditable amount equal to Two Hundred Million Dollars ($200,000,000.00). 

6.2.2 CD/UC Payment. Subsequent to: (i) AbbVie proceeding with the In-Licensing pursuant to Section 5.1;
(ii) the timely receipt of the Crohn’s Disease Complete Data Package by AbbVie prior to the deadline set forth in Section 3.1.3A; and (iii) AbbVie proceeding with a Crohn’s Disease Election or the Ulcerative Colitis Election
pursuant to Section 3.1.5, AbbVie shall pay Galapagos a one-time non-refundable, non-creditable amount equal to Fifty Million Dollars ($50,000,000.00) (“CD/UC Payment”) no later than [...***...] ([...***...]) days
following the delivery of such Crohn’s Disease Review Notice or initiation by 

  
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 CONFIDENTIAL 

 
 
AbbVie of a Phase 3 Clinical Study with the Lead Compound for the Crohn’s Disease Indication or ulcerative colitis, as applicable. AbbVie shall not be required to pay the CD/UC Payment to
Galapagos in the event any of the requirements set forth in subsections (i)-(iii) herein are not fulfilled.” 
 5. Initial
Development Plan and Budget. Schedule 1.97 of the Agreement is hereby amended by adding the contents set forth in Schedule A attached hereto. Except as amended by Schedule A, Schedule 1.97 of the Agreement shall
remain in full force and effect. 
 6. Phase 2B Crohn’s Disease Success Criteria. Schedule 1.141A of the Agreement is set
forth in Schedule B attached hereto. 
 7. Miscellaneous. Except as expressly amended by this Second Amendment, all of the
terms and conditions of the Agreement remain in full force and effect. In the event of a conflict between the terms of this Second Amendment and the terms of the Agreement, the terms of this Second Amendment shall prevail. This Second Amendment may
be executed in two (2) original counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

[SIGNATURE PAGE FOLLOWS] 

  
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 CONFIDENTIAL 

 
 THIS SECOND AMENDMENT is executed by the authorized representatives of the Parties as
of the Second Amendment Effective Date. 
  

									
	GALAPAGOS NV				ABBVIE BAHAMAS LTD.
					
	By:		 /s/ Onno van de Stolpe
				By:		 /s/ William Chase

					
	Name:		 Onno van de Stolpe
				Name:		 William Chase

					
	Title:		 CEO
				Title:		 EVP and CFO

  
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 CONFIDENTIAL 

Schedule A 

Schedule 1.97 

Initial Development Plan and Budget for Crohn’s Disease Indication 

(see attached) 
 [...***...]

  
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 CONFIDENTIAL 

Schedule B 

Schedule 1.141A 

Phase 2B Crohn’s Disease Success Criteria 

[...***...] 

  
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