Document:

EX-10.2

 Exhibit 10.2 
 AIR PRODUCTS AND CHEMICALS, INC. 
 RETIREMENT SAVINGS PLAN

 AS AMENDED AND RESTATED 
 EFFECTIVE OCTOBER 1, 2013 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I
	 	PURPOSES	  	 	1	  
			
	 1.01
	 	Purposes	  	 	1	  
			
	 ARTICLE II
	 	DEFINITIONS	  	 	1	  
			
	 2.01
	 	Affiliated Company	  	 	1	  
	 2.02
	 	After-Tax Contributions	  	 	2	  
	 2.03
	 	Annual Salary	  	 	2	  
	 2.04
	 	Before-Tax Contributions	  	 	3	  
	 2.05
	 	Beneficiary or Beneficiaries	  	 	3	  
	 2.06
	 	Board	  	 	3	  
	 2.07
	 	Business Day	  	 	4	  
	 2.08
	 	Catch-up Contributions	  	 	4	  
	 2.09
	 	Claims Committee	  	 	4	  
	 2.10
	 	Code	  	 	4	  
	 2.11
	 	Company	  	 	4	  
	 2.12
	 	Company Core Contributions	  	 	4	  
	 2.13
	 	Company Matching Contributions	  	 	4	  
	 2.14
	 	Company Stock	  	 	4	  
	 2.15
	 	Core Contribution Participant	  	 	4	  
	 2.16
	 	Credited Service	  	 	5	  
	 2.17
	 	Deemed Election	  	 	5	  
	 2.18
	 	Deferral Election	  	 	5	  
	 2.19
	 	Defined Benefit Plan	  	 	5	  
	 2.20
	 	Defined Contribution Plan	  	 	5	  
	 2.21
	 	Distribution Event	  	 	5	  
	 2.22
	 	Electing Employee	  	 	5	  
	 2.23
	 	Employee	  	 	6	  
	 2.24
	 	Employer	  	 	6	  
	 2.25
	 	Employment Commencement Date	  	 	6	  
	 2.26
	 	ERISA	  	 	7	  
	 2.27
	 	Fair Market Value	  	 	7	  
	 2.28
	 	Hour of Service	  	 	7	  
	 2.29
	 	Hourly Pension Plan	  	 	8	  
	 2.30
	 	IGS Savings Plan	  	 	9	  
	 2.31
	 	Investment Committee	  	 	9	  
	 2.32
	 	Investment Vehicle	  	 	9	  
	 2.33
	 	Matched Contributions	  	 	9	  
	 2.34
	 	Normal Retirement Age	  	 	9	  
	 2.35
	 	Participant	  	 	9	  
	 2.36
	 	Participant Contributions	  	 	9	  
	 2.37
	 	Participant Investment Funds	  	 	10	  

  
 i 

							
	 2.38
	 	Participating Employer	  	 	10	  
	 2.39
	 	Party In Interest	  	 	10	  
	 2.40
	 	Period of Severance	  	 	10	  
	 2.41
	 	Plan	  	 	10	  
	 2.42
	 	Plan Administrator	  	 	10	  
	 2.43
	 	Plan Year	  	 	11	  
	 2.44
	 	Qualified Default Investment Alternative	  	 	11	  
	 2.45
	 	Qualified Domestic Relations Order	  	 	11	  
	 2.46
	 	Reemployment Commencement Date	  	 	11	  
	 2.47
	 	Retirement Plan	  	 	11	  
	 2.48
	 	Retirement Program Change Effective Date	  	 	11	  
	 2.49
	 	Salaried Pension Plan	  	 	12	  
	 2.50
	 	Severance from Service Date	  	 	12	  
	 2.51
	 	Trust Agreement	  	 	12	  
	 2.52
	 	Trust Fund	  	 	13	  
	 2.53
	 	Trustee	  	 	13	  
	 2.54
	 	Unmatched Contributions	  	 	13	  
	 2.55
	 	Vice President – Human Resources	  	 	13	  
	 2.56
	 	Year of Service	  	 	13	  
	 2.57
	 	Years of Vesting Service	  	 	14	  
			
	 ARTICLE III
	 	ELIGIBILITY, CONTRIBUTIONS, WITHDRAWALS, DISTRIBUTIONS, ROLLOVERS, AND PLAN-TO-PLAN TRANSFERS	  	 	16	  
			
	 3.01
	 	Eligibility and Commencement of Participation	  	 	16	  
	 3.02
	 	Before-Tax, After-Tax, and Catch-up Contributions	  	 	18	  
	 3.03
	 	Company Matching Contributions	  	 	21	  
	 3.04
	 	Company Core Contributions	  	 	23	  
	 3.05
	 	Company Core Contribution Vesting Rules	  	 	23	  
	 3.06
	 	Timing of Contributions	  	 	25	  
	 3.07
	 	Nondiscrimination Limitations and Corrective Measures	  	 	25	  
	 3.08
	 	In-Service Withdrawals by Participants of After-Tax Contributions, Rollover Contributions, Company Matching Contributions, Before-Tax and Catch-up Contributions	  	 	37	  
	 3.09
	 	Loans to Participants	  	 	42	  
	 3.10
	 	Distributions Following Distribution Events	  	 	45	  
	 3.11
	 	Distributions Pursuant to a Qualified Domestic Regulations Order	  	 	47	  
	 3.12
	 	Rollovers into the Plan	  	 	47	  
	 3.13
	 	Plan-to-Plan Transfers; Plan Mergers	  	 	48	  
	 3.14
	 	Limitation on Annual Additions to Participants’ Accounts	  	 	49	  
	 3.15
	 	Application of Top-Heavy Provisions	  	 	50	  
			
	 ARTICLE IV
	 	TRUST FUND AND PARTICIPANT INVESTMENT FUNDS	  	 	55	  
			
	 4.01
	 	Trust Agreement	  	 	55	  

  
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	 4.02
	 	Investment of Contributions in the Participant Investment Funds	  	 	56	  
	 4.03
	 	Redirection of Investments of Participant Contributions	  	 	57	  
	 4.04
	 	Investment of Company Matching Contributions	  	 	58	  
	 4.05
	 	Participants’ Accounts	  	 	58	  
	 4.06
	 	Account Statements; Investment Information	  	 	60	  
	 4.07
	 	Voting, Tendering, and Similar Rights as to Company Stock	  	 	61	  
			
	 ARTICLE IV-A
	 	ESTABLISHMENT OF AN EMPLOYEE STOCK OWNERSHIP PLAN	  	 	63	  
			
	 ARTICLE V
	 	MANNER OF DISTRIBUTION OF PARTICIPANT ACCOUNTS	  	 	64	  
			
	 5.01
	 	General	  	 	64	  
	 5.02
	 	Designation of Beneficiaries; Spousal Consents	  	 	66	  
	 5.03
	 	Direct Rollovers	  	 	67	  
	 5.04
	 	Trustee-to-Trustee Transfer	  	 	69	  
	 5.05
	 	Protected Distribution Forms for Certain Transferred Balances	  	 	69	  
			
	 ARTICLE VI
	 	ADMINISTRATION	  	 	70	  
			
	 6.01
	 	Plan Administrator	  	 	70	  
	 6.02
	 	Expenses of Administration	  	 	70	  
	 6.03
	 	Powers and Duties of the Plan Administrator	  	 	71	  
	 6.04
	 	Powers and Duties of the Investment Committee	  	 	72	  
	 6.05
	 	Benefit Claims Procedures	  	 	75	  
	 6.06
	 	Fiduciaries	  	 	77	  
	 6.07
	 	Adequacy of Communications; Reliance on Reports And Certificates	  	 	78	  
	 6.08
	 	Indemnification	  	 	79	  
	 6.09
	 	Member’s Own Participation	  	 	79	  
	 6.10
	 	Elections	  	 	79	  
			
	 ARTICLE VII
	 	AMENDMENT, CORRECTION, AND DISCONTINUANCE	  	 	80	  
			
	 7.01
	 	Right to Amend or Terminate	  	 	80	  
	 7.02
	 	Corpus and Income Not to be Diverted	  	 	81	  
	 7.03
	 	Merger or Consolidation of Plan	  	 	82	  
	 7.04
	 	Correction	  	 	82	  
			
	 ARTICLE VIII
	 	GENERAL PROVISIONS	  	 	83	  
			
	 8.01
	 	Nonalienation of Benefits	  	 	83	  
	 8.02
	 	Payments to Minors, Incompetents, and Related Situations	  	 	83	  
	 8.03
	 	Unclaimed Accounts – Trust Funds	  	 	84	  
	 8.04
	 	No Guarantee of Employment	  	 	84	  
	 8.05
	 	Governing Law	  	 	84	  
	 8.06
	 	Gender, Number, and Headings	  	 	84	  
	 8.07
	 	Severability	  	 	85	  
	 8.08
	 	Obligations of the Employer	  	 	85	  
	 8.09
	 	Effective Date	  	 	85	  

  
 iii

							
	 8.10
	 	Uniformed Services Employment and Reemployment Rights Act	  	 	85	  
	 8.11
	 	Use of Electronic Media; Adjustment of Certain Time Periods	  	 	85	  
			
	 APPENDIX A
	 	PARTICIPANT INVESTMENT FUNDS	  	 	A-1	  
			
	 EXHIBIT I
	 	ELIGIBLE NONUNION HOURLY LOCATIONS DESIGNATED BY VICE PRESIDENT – HUMAN RESOURCES	  	 	I-1	  
			
	 EXHIBIT II
	 	FORMS OF DISTRIBUTION AVAILABLE TO PARTICIPANTS WHO HAD AMOUNTS TRANSFERRED TO THE PLAN FROM THE IGS SAVINGS PLAN	  	 	II-1	  
			
	 EXHIBIT III
	 	PLAN ELECTIONS	  	 	III-1	  
			
	 SCHEDULE I
	 	PARTICIPATING EMPLOYERS AS OF OCTOBER 1, 2013	  	 	S-1	  

  
 iv 

 AIR PRODUCTS AND CHEMICALS, INC. 

RETIREMENT SAVINGS PLAN 
 ARTICLE I 
 PURPOSES 

1.01 Purposes. This Plan is established to facilitate the accumulation and investment of retirement and other savings for
eligible employees and to provide such employees with an opportunity to acquire a stock interest in Air Products and Chemicals, Inc. (the “Company”), and is intended to be a profit-sharing plan described in Code Section 401(a) with a
cash or deferred arrangement described in Code Section 401(k) and an employee stock ownership plan component as defined in Code Section 4975(e), all in accordance with the terms and conditions hereinafter set forth. Unless otherwise stated
or required by applicable law, the effective date of the current amendment and restatement shall be October 1, 2013, and shall not be applicable to persons retiring or otherwise terminating employment with the Company and its Affiliated
Companies prior to October 1, 2013, except as otherwise provided herein. 
 ARTICLE II 

DEFINITIONS 
 As used in this Plan, the terms listed below shall have the meanings assigned below; provided, however, that special definitions for purposes of Sections 3.07, 3.14, and 3.15 are contained in
Paragraphs 3.07(a), 3.14(a), and 3.15(a), respectively. 
 2.01 Affiliated Company means each trade or
business (whether or not incorporated) while it, together with the Company, is treated as a controlled group of corporations (as defined in Code Section 414(b)), as under common control (as defined in Code Section 414(c)), or as an
affiliated service group (as defined in Code Section 414(m)), or is required to be aggregated with the Company pursuant to the regulations under Code Section 414(o); provided, however, that for purposes of Section 3.15 of the Plan and
where otherwise applicable, the modification provided for in Code Section 415(h) shall be taken into account. 

  
 1 

 2.02 After-Tax Contributions mean contributions made by a Participant under
Paragraph 3.02(b). 
 2.03 Annual Salary means the total annual salary of a Participant, as determined by the
Employer based solely on its records, including elective contributions made by an Employer on behalf of the Employee that are not includible in federal taxable income under Code Section 125 or Code Section 402(e)(3), excluding: 

(a) Discretionary bonuses or grants, including, without limitation, income howsoever derived from any stock options or other equity-based
awards, scholastic aid, payments and awards for suggestions and patentable inventions, other merit awards or variable compensation, expense allowances, and noncash compensation (including imputed income); 

(b) Payments of Company Matching Contributions under Section 3.03 and Company Core Contributions under Section 3.04 of this
Plan, accruals or distributions under this Plan, or payments, accruals, or distributions under any severance, incentive, or welfare plan or other retirement, pension, or profit-sharing plan of an Employer; 

(c) Overtime, commissions, mileage, shift premiums, and payments in lieu of vacation; and 

(d) All supplemental compensation for domestic and overseas assignments, including without limitation, premium pay, cost of living and
relocation allowances, mortgage interest allowances and forgiveness, tax-equalization payments, and other emoluments for such service. 

  
 2 

 In the case of a Participant who is a full-time hourly or a weekly salaried production and
maintenance employee, Annual Salary shall be determined by multiplying his base hourly pay rate by 2,080 hours. In the case of a Participant who is a part-time hourly employee or a part-time non exempt salaried employee, Annual Salary shall be
determined by multiplying his base hourly pay by his scheduled annual hours. Notwithstanding the above, Annual Salary means 125% of the amount determined in accordance with the preceding two sentences for any Participant who is employed as an
over-the-road truck driver by an Employer, is paid on a mileage and hourly basis or who receives trip pay, and whose employment is based at a liquid bulk distribution terminal designated from time to time by the Vice President - Human Resources as a
“Designated Terminal” and identified as such on Exhibit I. 
 For Employees who are receiving compensation directly
from the Employer during periods of short-term disability, Annual Salary for purposes of Core Contributions will be computed in the same manner as if in active employment but for purposes of Before-Tax Contributions, After-Tax Contributions, and
Company Matching Contributions for non-union hourly Employees only, shall be considered zero. 
 Notwithstanding the above,
“Annual Salary” shall not exceed the limitation provided under Code Section 401(a)(17) as adjusted pursuant to Code Section 401(a)(17)(B) for any Plan Year. 

2.04 Before-Tax Contributions mean contributions made by the Employer on behalf of a Participant pursuant to the
Participant’s Deferral Election under Paragraph 3.02(a) or Deemed Election under Paragraph 3.02(d). 
 2.05
Beneficiary or Beneficiaries mean the person(s), trust(s), or other recipient(s) as determined under the provisions of Section 5.02, who or which shall receive all amounts credited to the Participant’s Plan
accounts following the death of the Participant. 
 2.06 Board means the board of directors of the Company or any
Committee thereof acting on behalf of the Board pursuant to its charter or other delegation of power from the Board, or the Chairman of the Board acting pursuant to a delegation of authority from the Board. 

  
 3 

 2.07 Business Day means any day the New York Stock Exchange is open for
business. 
 2.08 Catch-up Contributions mean contributions made by the Employer on behalf of a Participant
pursuant to the Participant’s Deferral Election under Paragraph 3.02(c). 
 2.09 Claims Committee means the
committee appointed by the Vice President-Human Resources to review and determine appeals of claims arising under the Plan in accordance with Section 6.05. 
 2.10 Code means the Internal Revenue Code of 1986, as amended from time to time, and regulations thereunder. 
 2.11 Company means Air Products and Chemicals, Inc., or any successor in interest thereto. 
 2.12 Company Core Contributions mean contributions made by the Employer under Section 3.04. 
 2.13 Company Matching Contributions mean contributions made by the Employer under Section 3.03. 
 2.14 Company Stock means common stock of the Company. 
 2.15
Core Contribution Participant shall mean an Electing Employee or a salaried Employee whose Employment Commencement Date or Reemployment Commencement Date occurs after October 21, 2004, or who otherwise becomes a salaried Employee
after such date, a non-union hourly Employee whose Employment Commencement Date or Reemployment Commencement date occurs after February 1, 2011, or an employee who otherwise becomes a non-union hourly Employee after February 1, 2011
provided such employee is not accruing benefits in the Hourly Pension Plan. With respect to Employees who were employed by EPCO Carbon Dioxide Products, Inc. on May 31, 2013 and who were hired by the Company on June 1, 2013, such Employees
shall become a Core Contribution Participant effective July 1, 2013. 

  
 4 

 2.16 Credited Service means credited service as defined in the Salaried
Pension Plan or Hourly Pension Plan, as applicable. 
 2.17 Deemed Election means a passive election to make
Before-Tax Contributions to the Plan pursuant to Section 3.02(d). 
 2.18 Deferral Election means the
election made by a Participant in accordance with Section 3.02. 
 2.19 Defined Benefit Plan means any
Retirement Plan which does not meet the definition of a Defined Contribution Plan. 
 2.20 Defined Contribution
Plan means a Retirement Plan which provides for an individual account for each participant and for benefits based solely on the amount contributed to the participant’s account and on any income, expenses, gains, and losses, and any
forfeitures of accounts of other participants, which may be allocated to such participant’s account. For this purpose, any Participant’s contributions made pursuant to a Defined Benefit Plan maintained by the Company or an Affiliated
Company shall be treated as a separate Defined Contribution Plan. 
 2.21 Distribution Event means: a
Participant’s severance from employment with the Company and all Affiliated Companies, death or disability, in each case as defined by Code Section 401(k)(2)(B)(i). 
 2.22 Electing Employee means an Employee who voluntarily elects to cease accruing years of Credited Service under the Salaried Pension Plan as of the Retirement Program Change Effective Date
in order to receive Company Core Contributions and increased Company Matching Contributions. 

  
 5 

 2.23 Employee means (a) any salaried employee of an Employer or
(b) any non-union hourly paid employee who is employed by an Employer at one of the locations from time to time designated by the Vice President - Human Resources and listed on Exhibit I attached hereto and made a part hereof, as said
Exhibit I is updated from time to time; provided however, that no person shall be an Employee if such person is a leased employee (as defined below) of an Employer, a participant in the Supplemental Employment Program, a foreign national on a
temporary assignment to an Employer, or an employee working under a Summer Internship Program, a Cooperative Education Program, or other temporary or supplemental employment program of an Employer. An employee of an Employer who is covered by a
collective bargaining agreement shall not be an Employee unless the terms of such collective bargaining agreement provide for participation in the Plan. Notwithstanding the foregoing, if a leased employee or an employee of an Affiliated Company
becomes an Employee, his service with the Company and Affiliated Companies prior to becoming an Employee shall be taken into account for eligibility and vesting purposes under the Plan. The term “employee” as used herein shall mean any
common law employee of the Company or an Affiliated Company but shall exclude any person classified by the Company as an independent contractor even if such individual is subsequently reclassified as a common law employee by the Internal Revenue
Service or any other agency, entity, or person. 
 For purposes of the preceding paragraph, a “leased employee” is any
person (other than an employee of the Employer) who pursuant to an agreement between the Employer and any other person (leasing organization) has performed services for the Employer (or for the Employer and related persons determined in accordance
with Code Section 414(n)(6)) on a substantially full-time basis for a period of at least one year, and such services are performed under primary direction or control by the Employer. 

2.24 Employer means the Company and/or any Participating Employer, either collectively or separately as the context
requires. 
 2.25 Employment Commencement Date means the date on which the Employee first performs an Hour of
Service under Section 2.28 for an Employer or an Affiliated Company. 

  
 6 

 2.26 ERISA means the Employee Retirement Income Security Act of 1974, as
amended from time to time. 
 2.27 Fair Market Value, as of any Business Day with respect to Company Stock, means
the closing sale price for Company Stock for such date on the New York Stock Exchange, or, if no such sale occurred, the average of the closing bid and asked prices for such date on the New York Stock Exchange. 

2.28 Hour of Service means: 
 (a) each hour for which an employee (whether or not as an Employee) is directly or indirectly paid, or entitled to payment, for the performance of duties for the Company or an Affiliated Company during
the applicable computation period; 
 (b) each hour for which an employee (whether or not as an Employee) is directly or
indirectly paid, or entitled to payment, by the Company or an Affiliated Company on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday,
illness, incapacity (including short-term disability ), layoff, jury duty, military duty, or leave of absence; 
 (c) each hour
for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Company or an Affiliated Company, with respect to an employee (whether or not an Employee), provided such hours have not previously been credited under
either Paragraphs (a) or (b) above; and 
 (d) In the case of an employee who is reemployed by the Company or an
Affiliated Company in accordance with the requirements of applicable federal law following an authorized leave of absence due to service in the Armed Forces of the United States, each hour during which such employee (whether or not as an Employee)
is not performing duties for the Company or an Affiliated Company due to such military leave whether or not such employee is paid, or entitled to payment, by the Company or an Affiliated Company. 

  
 7 

 For purposes of this Section, a payment shall be deemed to be made by or due from the
Company or an Affiliated Company whether such payment is directly made by or due from the Company or Affiliated Company, or indirectly made through, among other sources, a trust fund or insurer to which the Company or Affiliated Company contributes
or pays premium (e.g., for group term life insurance). 
 For purposes of Paragraphs (b) and (c) above, the
following rules shall apply: 
 (i) No more than five hundred and one (501) Hours of Service shall be
credited on account of any single continuous period during which the employee performs no duties for the Company or an Affiliated Company (whether or not such period occurs in a single computation period) except for short term disability salary
continuation; 
 (ii) No Hours of Service shall be credited for a payment made or due under a plan maintained
solely for the purpose of complying with applicable workers’ compensation, unemployment compensation, or disability insurance laws; and 
 (iii) No Hours of Service shall be credited for a payment which solely reimburses an employee for medical or medically related expenses incurred by the employee. 

In the case of a payment which is made or due on account of a period during which an employee performs no duties for the Company or an
Affiliated Company, and which results in the crediting of Hours of Service under Paragraphs (b) or (c) above, the number of hours and the period to which such hours are to be credited shall be determined in accordance with the rules
promulgated by the United States Department of Labor in paragraphs (b), (c), and (d) of the regulations at 29 CFR § 2530.200b-2 or any future regulations which change, amend, or supersede such regulations, which regulations
are incorporated by reference herein. 
 2.29 Hourly Pension Plan means the Pension Plan for Hourly Rated
Employees of Air Products and Chemicals, Inc., as amended from time to time. 

  
 8 

 2.30 IGS Savings Plan means the Industrial Gas and Supply Company Retirement
Savings Plan which was merged into the Plan effective as of March 31, 2000. 
 2.31 Investment Committee
means the Pension Investment Committee of the Company, consisting of persons appointed by the Finance Committee of the Board and authorized, directed and empowered to supervise, monitor and review the management, custody, control and investment
performance of the assets of the Plan. 
 2.32 Investment Vehicle means any security or other investment in which
the Trustee is authorized to invest Participant Contributions transferred to a particular Participant Investment Fund, other than cash or interest-bearing investments of a short-term nature in which such Participant Contributions may be temporarily
invested pending investment in such security or other investment. 
 2.33 Matched Contributions means Before-Tax
Contributions and After-Tax Contributions that are matched by the Employer in accordance with Section 3.03. 
 2.34
Normal Retirement Age means age 65. 
 2.35 Participant means: (a) any Employee who is
eligible to participate in the Plan in accordance with Section 3.01, or (b) any former Employee by whom or for whom contributions have been made under Sections 3.02, 3.03, 3.04, 3.12, or 3.13, and (c) any participant in the IGS
Savings Plan on March 30, 2002, until such time as all such contributions and earnings thereon have been withdrawn by or distributed to such Employee, former Employee or IGS Savings Plan Participant. 

2.36 Participant Contributions mean, collectively, funds held and invested by the Trustee under the Trust Agreement which
were, when first transferred to the Trustee, Matched Contributions, Unmatched Contributions, rollover contributions as described in Section 3.12, or assets received in plan-to-plan transfers or mergers as described in Section 3.13,
together with earnings thereon. 

  
 9 

 2.37 Participant Investment Funds mean the funds described in Appendix A, as
amended from time to time, which other than the Company Stock Fund, are chosen by the Investment Committee, in which Participant Contributions and Company Core Contributions are held for investment. 

2.38 Participating Employer means those Affiliated Companies listed as Participating Employers on Schedule I hereto,
while such designation is in effect, and any Affiliated Company which is later designated by the Board or pursuant to authority delegated by the Board as a Participating Employer under the Plan, whose designation has not been revoked. An Affiliated
Company’s status as a Participating Employer shall be automatically revoked upon its ceasing to be an Affiliated Company. A Participating Employer or the Board or person acting pursuant to authority delegated by the Board may revoke such
designation at any time, but until such acceptance has been revoked, all of the provisions of the Plan and amendments thereto shall apply to the Employees and former Employees of the Participating Employer. In the event the designation of a
Participating Employer is revoked, the Plan shall be deemed discontinued only as to such Participating Employer. 
 2.39
Party in Interest has the meaning provided in ERISA Section 3(14), or regulations promulgated thereunder or any future regulations which change, amend, or supersede such regulations. 

2.40 Period of Severance means a 12-consecutive-month period beginning on an individual’s Severance from
Service Date or any anniversary thereof and ending on the next succeeding anniversary of such date during which the individual is not credited with at least one Hour of Service. 

2.41 Plan means the “Air Products and Chemicals, Inc. Retirement Savings Plan” as set forth herein and as amended
from time to time. 
 2.42 Plan Administrator means the Vice President – Human Resources, or such other
person or entity as he or she shall appoint to fill such role. 

  
 10 

 2.43 Plan Year means the annual period beginning on October 1 and ending
on September 30 of the following calendar year. A Plan Year shall be designated according to the calendar year in which such Plan Year ends. The Plan Year shall also be the limitation year for purposes of applying the limitation of Code
Section 415. 
 2.44 Qualified Default Investment Alternative means the Participant Investment Fund
chosen by the Investment Committee, as designated in Appendix A, to meet the requirements of ERISA Section 404(c)(5) and the regulations thereunder. 
 2.45 Qualified Domestic Relations Order means: (a) any qualified domestic relations order as defined in Code Section 414(p) and ERISA Section 206(d), or (b) any other
domestic relations order permitted to be treated as a qualified domestic relations order by the Plan Administrator under the provisions of the Retirement Equity Act of 1984 and which the Plan Administrator determines to treat as a qualified domestic
relations order. 
 2.46 Reemployment Commencement Date means the first day on which an individual performs an
Hour of Service under Section 2.28 after incurring a Period of Severance. 
 2.47 Retirement Plan means:
(a) any profit-sharing, pension, or stock bonus plan described in Code Sections 401(a) and 501(a), (b) any annuity plan or annuity contract described in Code Sections 403(a) or 403(b) of the Code, or (c) any individual
retirement account or individual retirement annuity described in Code Sections 408(a) or 408(b). 
 2.48
Retirement Program Change Effective Date means January 1, 2005, except that (a) for Employees at the South Brunswick, New Jersey facility who were hourly-rated instrument and electrical technicians, warehouse technicians,
laboratory technicians, maintenance technicians, operation technicians, or production technicians as of January 1, 2005, the Retirement Program Change Effective Date shall be January 1, 2006, and (b) for salaried Employees who were on
military leave on January 1, 2005, the Retirement Program Change Effective Date shall be the first of the month following 30 days after returning from military leave. 

  
 11 

 2.49 Salaried Pension Plan means the Air Products and Chemicals, Inc. Pension
Plan for Salaried Employees, as amended from time to time. 
 2.50 Severance from Service Date occurs on
the earlier of (i) the date on which an employee retires, voluntarily terminates, or is discharged from employment with an Employer and all Affiliated Companies or dies; or (ii) the first anniversary of the first date of a period in which
an Employee remains absent from service (with or without pay) with the Employer and all Affiliated Companies for any reason other than voluntary termination, retirement, discharge, or death, such as vacation, holiday, sickness, disability, leave of
absence, or layoff; provided that, in the case of an individual who is absent from work for maternity or paternity reasons, a Severance from Service Date shall not occur until the second anniversary of the date the individual begins such maternity
or paternity leave. For purposes of the foregoing, an Employee’s absence from work for maternity or paternity reasons means an absence (a) by reason of the pregnancy of the Employee, (b) by reason of the birth of a child of the
Employee, (c) by reason of the placement of a child with the Employee in connection with the adoption of such child by such Employee, or (d) for purposes of caring for such child for a period beginning immediately following such birth or
placement; provided that the Employee has provided to the Plan Administrator, in the form and manner prescribed by the Plan Administrator, information establishing (a) that the absence from work is for maternity or paternity reasons and
(b) the number of days for which there was such an absence. Nothing in this Section shall be construed as expanding or amending any maternity or paternity leave policy of the Employer. Notwithstanding the above, an individual who is absent from
work due to a leave of absence, whether or not for maternity or paternity reasons, who returns to work immediately following the leave of absence shall be deemed not to have a Severance from Service date. 

2.51 Trust Agreement means the trust agreement referred to in Article IV, as the same may be amended from time to
time. 

  
 12 

 2.52 Trust Fund means the assets held in trust for purposes of the Plan.

 2.53 Trustee means such trustee or trustees as shall be appointed by the Investment Committee under the Trust
Agreement. 
 2.54 Unmatched Contributions mean any After-Tax Contributions which are not Matched Contributions, Before-Tax Contributions which are not Matched Contributions or Catch-up Contributions. 

2.55 Vice President-Human Resources shall mean the Senior Vice President, General Counsel and Chief Administrative Officer
of the Company, or any successor to that position. 
 2.56 Years of Service mean the service credited to a
Participant for purposes of determining the amount of Company Core Contributions allocated to the Participant’s account under Section 3.04. The following rules shall apply in calculating Years of Service under this Plan: 

(a) An Employee shall be credited with a Year of Service for each 12 consecutive month period during the period beginning on the
Employee’s Employment Commencement Date and ending on the Employee’s Severance from Service Date. 
 (b) If an
Employee has a Severance from Service Date and after January 1, 2005 is rehired by the Employer as a salaried Employee or after February 1, 2011 is rehired by the Employer as a non-union hourly Employee, Years of Service prior to the
Employee’s Severance from Service Date shall not be taken into account as Years of Service. The Employee’s date of reemployment shall be the Employee’s Employment Commencement Date for purposes of (a) above. 

(c) Notwithstanding the foregoing, an hourly employee who is receiving credited service in the Hourly Pension Plan and becomes a salaried
Employee after January 1, 2005, or a salaried employee who is receiving credited service in the Salaried Pension Plan and becomes a non-union hourly Employee after February 1, 2011 will be credited with Years of Service beginning with the
date he or she first 

  
 13 

 
earned Credited Service under the Salaried Pension Plan or the Hourly Pension Plan, as applicable, but excluding any period when he or she was not employed by the Company or an Affiliated
Company, and any period of active employment with respect to which service is not taken into account in calculating his or her Accrued Benefit under such Plan. 
 (d) Notwithstanding the foregoing, for periods of service prior to January 1, 2005, an Employee who was a Core Contribution Participant as of January 1, 2005, will be credited with Years of
Service beginning with the date he or she first earned Credited Service under the Salaried Pension Plan or the Hourly Pension Plan, but excluding any period when he or she was not employed by the Company or an Affiliated Company, and any period with
respect to which service is not taken into account in calculating his or her Accrued Benefit under such Plan as of January 1, 2005. 
 (e) An Employee who was an employee of E. I. du Pont de Nemours and Company (“DuPont”) and who was hired by the Company in connection with the purchase of DuPont Air Products NanoMaterials
L.L.C. on April 2, 2012, shall be credited with a Year of Service for each 12 consecutive month period during the period beginning on the Employee’s service date with DuPont and ending on the Employee’s Severance from Service Date.

 2.57 Years of Vesting Service means the service credited to an Employee for purposes of determining the
Employee’s vested interest in the portion of his account attributable to Company Core Contributions and related investment earnings and losses. The following rules shall apply in calculating Years of Vesting Service under this Plan: 

(a) An Employee shall be credited with full and partial Years of Vesting Service for the period from the Employee’s Employment
Commencement Date to the Employee’s Severance from Service Date and, if applicable, from the Employee’s Reemployment Commencement Date to the Employee’s subsequent Severance from Service Date; provided that, an Employee who is absent
from work due to maternity or 

  
 14 

 
paternity leave as defined in subsection 2.51 immediately prior to their Severance from Service Date shall not be credited with Vesting Service for any period of such maternity or paternity
leave that extends beyond the one year anniversary of the date the individual begins such maternity or paternity leave. Years of Vesting Service shall be calculated on the basis that 12 consecutive months of employment equal one year. For this
purpose, partial Years of Vesting Service shall be aggregated. 
 (b) If an Employee retires, voluntarily terminates, or is
discharged from employment with the Employer and all Affiliated Companies and is subsequently reemployed, the period commencing on the Employee’s Severance from Service Date and ending on the reemployment date shall be taken into account, if
such period is 12 months or less in duration; provided that, if an Employee retires, voluntarily terminates, or is discharged from employment with the Employer and all Affiliated Companies during a period when the Employee was absent for
another reason and is subsequently reemployed, the period commencing on the Employee’s Severance from Service Date and ending on the reemployment date shall be taken into account, but only if the reemployment date occurs within 12 months of the
first date of absence. 
 (c) If an Employee is reemployed after incurring five consecutive Periods of Severance, and the
Employee had never previously earned any vested benefits under the Plan, including Company Matching Contributions, Years of Vesting Service after such Periods of Severance shall not be taken into account for purposes of determining the vested
interest in the portion of his account attributable to Company Core Contributions made before such Periods of Severance, and Years of Vesting Service before such Periods of Severance shall not be taken into account for the purpose of determining the
vested interest in the portion of his account attributable to Company Core Contributions made after such Periods of Severance. 

(d) Years of Vesting Service shall include all periods described in paragraphs (a), and (b) above (including those periods
during which the Employee was a leased employee within the meaning of section 414(n) or 414(o) of the Code) whether or not the Employee qualified as an Employee during those periods. 

  
 15 

 (e) An Employee who was an employee of DuPont and who was hired by the Company in connection
with the purchase of DuPont Air Products NanoMaterials L.L.C. on April 2, 2012, shall be credited with full and partial Years of Vesting Service for the period from the Employee’s service date with DuPont to the Employee’s Severance
from Service Date. 
 ARTICLE III 
 ELIGIBILITY, CONTRIBUTIONS, WITHDRAWALS, DISTRIBUTIONS, 
 ROLLOVERS, AND
PLAN-TO-PLAN TRANSFERS 
 3.01 Eligibility and Commencement of Participation. 

(a) An Employee shall be eligible to participate in the Plan upon meeting the requirements of (i) or (ii) as follows:

 (i) An Employee shall be eligible to participate in the Plan upon completion of thirty (30) days of
service after the date as of which the Employee is first scheduled or expected to be credited with one thousand (1,000) Hours of Service as an Employee during the next twelve (12)-month period. Such Employee will begin his participation as of
the first complete pay period following the completion of such thirty (30) days of service if such Employee shall make an affirmative election to participate in accordance with procedures adopted by the Plan Administrator under
Paragraph 3.02(a), (b), or (c) , or a Deemed Election pursuant to Paragraph 3.02(d). Notwithstanding the foregoing, a Core Contribution Participant shall be eligible to participate in benefits under Section 3.04 of the Plan on
the later of the Retirement Program Change Effective Date or the date he becomes a Core Contribution Participant, provided that he is scheduled or expected to be credited with one thousand (1,000) Hours of Service during the next twelve
(12)-month period. 
 (ii) An Employee who has not satisfied the service requirements of the preceding paragraph
shall be eligible to participate in the Plan, upon such Employee’s completion of 1,000 Hours of Service during an eligibility computation 

  
 16 

 
period. An eligibility computation period is the twelve (12) month period beginning on the Employee’s Employment Commencement Date, or, in the event such Employee does not complete
1,000 Hours of Service in such twelve (12) month period, all Plan Years beginning after the first day of such twelve (12) month period. Such an Employee may begin his participation as of the first full pay period which includes the earlier
of (i) the first day of the Plan Year which follows his satisfaction of the eligibility requirements in the preceding sentence, or (ii) the date which is six months after the date on which he satisfied such eligibility requirements, if
such Employee makes an affirmative election to participate in accordance with Paragraph 3.01(a)(i). A Core Contribution Participant who has not satisfied the service requirements of the preceding paragraph shall be eligible to participate in
benefits under Section 3.04 of the Plan upon such Participant’s completion of 1,000 Hours of Service during an eligibility computation period. 
 (iii) Employees who were former participants of the IGS Savings Plan shall be eligible to participate upon their becoming an Employee provided they make an affirmative election to participate in
accordance with the procedures adopted by the Plan Administrator under subsection 3.02(a), (b), or (c) or a Deemed Election pursuant to subsection 3.02(d). 

(iv) An Employee who was an employee of DuPont and who was hired by the Company in connection with the purchase of DuPont
Air Products NanoMaterials L.L.C. on April 2, 2012, shall be eligible to participate in the Plan as soon as administratively possible upon his becoming an Employee provided he makes an affirmative election to participate in the Plan in
accordance with the procedures adopted by the Plan Administrator under subsection 3.02(a), (b), or (c) or a Deemed Election pursuant to subsection 3.02(d). 
 (b) An Employee eligible to participate in the Plan shall remain eligible to participate (subject to the applicable suspension provisions of Sections 3.02, 3.07, and 3.08) for so long as he is an
Employee. An Employee who terminates his employment with the Company and all Affiliated Companies after becoming eligible to 

  
 17 

 
participate in the Plan, or an Employee who otherwise ceases to be employed as an Employee, shall, upon reemployment by an Employer as an Employee, be eligible to participate in the Plan and may
begin his participation as soon as administratively possible so long as an election is properly made as provided in Paragraph 3.02; except that such reemployed Core Contribution Participant shall be eligible to participate in Company Core
Contributions as of the later of the Retirement Program Change Date or his Reemployment Commencement Date (or, if no Severance from Service has occurred, the later of the Retirement Program Change Date or the date he once again meets the definition
of Employee). An Employee who becomes represented by a collective bargaining agent will remain eligible to participate in the Plan until a collective bargaining agreement is executed by the Employer by which the Employee is employed and the
bargaining agent and, subsequent thereto, will only remain eligible to participate in the Plan if the collective bargaining agreement so provides. An Employee who terminates employment with the Company and all Affiliated Companies prior to becoming
eligible to participate in the Plan shall be treated as a new Employee for purposes of this Section 3.01 upon reemployment by an Employer. 
 (c) Notwithstanding any other provision of this Plan, the availability of Before-Tax Contributions, After-Tax Contributions, Catch-up Contributions, Company Core Contributions and Company Matching
Contributions shall not discriminate in favor of Highly Compensated Employees. 
 3.02 Before-Tax, After-Tax and Catch-up
Contributions. Each Employee shall commence participation in the Plan by making an election to make contributions to the Plan as described in (a), (b), (c), or (d) below (the “Deferral Election”). 

(a) Before-Tax Contributions. An Employee may make an election to reduce periodic installments of his Annual Salary
otherwise payable for each succeeding pay period and direct the Employer to make a contribution to the Plan on his behalf in an amount equal to a whole number from 3 to 50 percent of such periodic installment of his Annual Salary (subject to
the provisions of Section 3.07).  

  
 18 

 (b) After-Tax Contributions. An Employee may make an election to
contribute an amount equal to 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, or 16 percent of each such periodic installment of his Annual Salary (subject to the provisions of Section 3.07) to the Plan. 

(c) Catch-up Contributions. Effective October 1, 2002, a Participant who attains age 50 by the end of the
applicable calendar year and who has made Before-Tax Contributions for the calendar year or Plan Year, as applicable, up to the lesser of the statutory limit described in Section 3.07(c)(i), the Plan limit described in Section 3.02(a), or,
if such Participant is a Highly Compensated Employee, the highest amount of Before Tax Contributions that can be retained in the Plan with respect to such Participant without violating the Average Deferral Percentage Test described in
Section 3.07(b)(1), shall be eligible to make additional Before-Tax Contributions to the Plan in the amount of $5,000, which amount shall be adjusted pursuant to cost of living adjustments described in Code Section 414(v)(2)(c). 

 (d) Deemed Election. (i) Each salaried Employee who becomes eligible to participate in the Plan
on or after the Retirement Program Change Effective Date, and (ii) each hourly Employee who becomes eligible to participate in the Plan on and after October 1, 2007, shall be considered to have directed the Employer to reduce his salary in
order to make a Before-Tax Contribution in an amount equal to six (6) percent of each periodic installment of his Annual Salary (subject to the provisions of Section 3.07) on his behalf to the trust for the Plan established under the Trust
Agreement unless such Employee files (or has filed) a Deferral Election with the Employer. Such Deemed Election shall be effective in accordance with procedures established by the Plan Administrator after written notice has been provided to the
Employee. 
 (e) Limits on Contributions. Notwithstanding the foregoing, the maximum combined total
of After-Tax Contributions and Before-Tax Contributions being made by or on behalf of a Participant at any time may not exceed 50 percent of the Participant’s installments of Annual Salary payable at the time, and After-Tax Contributions
and Before-Tax Contributions may be made only to the extent that such Contributions to a Participant’s account for any Plan Year do not cause the limitations on Annual Additions to a Participant’s account as set forth in Section 3.14
to be exceeded. 

  
 19 

 (f) Election Changes. An Employee may, by giving notice to the Plan
Administrator, change his Deferral Election, including a Deemed Election, and direct the Employer to reduce or contribute, as the case may be, different permitted percentages of his periodic installments of Annual Salary, effective as soon as
administratively practicable thereafter. In the event of a change in Annual Salary, the Employee’s then current contribution percentage shall automatically be applied to the new Annual Salary, as soon as administratively practicable thereafter.
 
 (g) Suspension of Elections. An Employee may, by notice to the Plan Administrator, initiate a
suspension of his Deferral Election beginning as soon as administratively practicable thereafter. In addition, suspension shall be automatic as of the first pay in which a Participant ceases to be an Employee. In the event the participant initiates
the suspension, the Participant may elect to resume his Deferral Election in accordance with the provisions of Section 3.01 effective as soon as administratively practicable thereafter, provided that he is an Employee as of the date when the
Deferral Election resumes. 
 (h) Termination of Elections. Subsequent to a Distribution Event, the
Participant shall have no right to continue making contributions to the Plan, but shall have the right to redirect the investment of the amounts in his accounts in accordance with Section 4.03 and to change or revoke his written designation of
Beneficiary in accordance with Section 5.02. 
 (i) Administrative Rules. The Plan Administrator may
from time to time establish such rules and procedures for determining and adjusting the percentages of Annual Salary subject to Deferral Elections as the Plan Administrator shall in his sole discretion deem to be necessary or desirable for the
administration of the Plan in accordance with the Code and ERISA, including, without limitation, rules and procedures establishing limitations on the frequency with which all or certain Participants may alter the percentage of their Annual Salary
which are subject to 

  
 20 

 
Deferral Elections and rules and procedures allowing for the contributions of a specified dollar amount of Before-Tax Contributions, After-Tax Contributions or Catch-Up Contributions in lieu of
fixed whole percentage. Notwithstanding any provision in the Plan to the contrary, solely with respect to a Participant in the Air Products Deferred Compensation Plan, the Plan Administrator may from time to time adjust the percentage of Annual
Salary Deferral Elections as the Plan Administrator shall in his sole discretion deem to be necessary or desirable for the administration of both the Plan and the Air Products Deferred Compensation Plan. 

(j) Vesting. A Participant shall have a fully vested, nonforfeitable right to any benefits derived from Before-Tax
Contributions, After-Tax Contributions and Catch-up Contributions made under this Section 3.02. 
 3.03 Company
Matching Contributions. The Employer shall make Company Matching Contributions to the Plan on behalf of each Employee who participates in the Plan in accordance with the following provisions: 

(a) Enhanced Formula. Effective as of the later of the Retirement Program Change Effective Date or the date he becomes a
Core Contribution Participant, each Core Contribution Participant shall receive Company Matching Contributions as soon as administratively practicable after each pay date from the Employer equal to the sum of (i) and (ii) below: 

(i) 75 percent of the first (4) percent of the Participant’s Annual Salary that is deferred by the Participant
each pay period to the Plan as Before-Tax Contributions provided that the Participant has elected to contribute at least three (3) percent as Before-Tax Contributions, excluding Catch-up Contributions, and 

(ii) 50 percent of the next two (2) percent of the Participant’s Annual Salary that is deferred by the
Participant each pay period to the Plan as Before-Tax Contributions, excluding Catch-up Contributions. 

  
 21 

 (b) Regular Formula. Each Participant who is not eligible to receive
Company Matching Contributions in accordance with (a) above, shall receive Company Matching Contributions as of the end of each pay period from the Employer equal to the sum of (i) and (ii) below:  

(i) 75 percent of the first (3) percent of the Participant’s Annual Salary that is deferred by the Participant
each pay period to the Plan provided that the Participant has elected to contribute at least three (3) percent as Before-Tax Contributions, excluding Catch-up Contributions, and 

(ii) 25 percent of the next three (3) percent of the Participant’s Annual Salary that is deferred by the
Participant each pay period to the Plan as Before-Tax Contributions , excluding Catch-up Contributions, or contributed to the Plan as After-Tax Contributions. 
 (c) Form of Company Matching Contribution. A Company Matching Contribution will be made to the Trustee at least annually, but (unless the Company determines otherwise) only out of the
Employer’s current or accumulated earnings and profits, and may be made in whole or in part in cash or Company Stock. Company Matching Contributions to be made in Company Stock shall be valued for such purpose at the Fair Market Value on the
last Business Day of the period for which the Company Matching Contribution is made. If the Company shall not have taken action to discontinue the Plan in accordance with the provisions of Section 7.01 prior to the end of any Plan Year, the
Employer’s Company Matching Contribution for such Plan Year shall become a fixed obligation as of the end of such Plan Year to the extent of the Employer’s current or accumulated earnings and profits. 

(d) Limits on Company Matching Contributions. Notwithstanding the foregoing, no Company Matching Contribution shall be made
for the account of any Participant to the extent that such Company Matching Contribution, after the adjustments provided for in the following sentence, would violate the Actual Contribution Percentage Test, as described in Section 3.07. Any
corrective actions taken to avoid such violations shall be performed in accordance with Section 3.07. 

  
 22 

 (e) Vesting. A Participant shall have a fully vested, nonforfeitable right to
any benefits derived from Company Matching Contributions, subject to the forfeiture provisions of Section 3.07 and Paragraph 3.14(c). 
 3.04 Company Core Contributions. Effective as of the Retirement Program Change Effective Date, each Core Contribution Participant shall receive Company Core Contributions from the Employer
in accordance with the following provisions: 
 (a) Formula. The Employer shall allocate a Company Core Contribution at
least annually to the account of each eligible Participant at any time during the Plan Year in accordance with the following schedule: 
  

			
	 Years of Service
	  	
Amount of Company Core Contributions

	 Less than 10 Years of Service
	  	4% of Annual Salary
	 10-19 Years of Service
	  	5% of Annual Salary
	 20 or more Years of Service
	  	6% of Annual Salary

 (b) Notwithstanding the foregoing, Annual Salary for purposes of determining the amount of Company Core
Contributions under (a), above, shall not include any Annual Salary earned by a Participant before the Participant became eligible to receive Company Core Contributions. 
 3.05 Company Core Contribution Vesting Rules. A Participant’s Company Core Contributions and related investment earnings and losses shall be subject to the following vesting rules:

 (a) Vesting Schedule. Effective on and after October 1, 2007, a Participant who is an Employee
shall have a vested, nonforfeitable right to the portion of a Participant’s account attributable to Company Core Contributions, including any related investment earnings and losses, according to the following vesting schedule, or, if earlier,
after attaining Normal Retirement Age while employed by the Employer or an Affiliated Company: 

  
 23 

					
	 Years of Vesting Service
	  	Percent
Vested	 
	 Less than 1
	  	 	0	% 
	 1
	  	 	20	% 
	 2
	  	 	40	% 
	 3
	  	 	60	% 
	 4
	  	 	80	% 
	 5
	  	 	100	% 

 Prior to October 1, 2007, a Participant who is an Employee would have a fully vested, nonforfeitable
right to the portion of a Participant’s account attributable to Company Core Contributions, including any related investment earnings and losses, after completing at least 5 Years of Vesting Service, or, if earlier, after attaining Normal
Retirement Age while employed by the Employer or an Affiliated Company. 
 (b) Forfeitures. 

(i) If a Participant is not fully vested in Company Core Contributions as described in (a) above at the time he
incurs a Severance from Service Date, the unvested portion of the Participant’s account attributable to Company Core Contributions and related investment earnings and losses shall be forfeited as of the earlier of: 

 

	 	(A)	the date on which he receives a distribution of his entire vested interest in his account; or 

 

	 	(B)	the date on which he incurs five consecutive Periods of Severance. 

  
 24 

 (ii) A Participant who has no portion of his account attributable to Company
Matching Contributions or Participant Before-Tax Contributions and whose vested interest in the portion of his account attributable to Company Core Contributions is zero shall be deemed to have received a distribution of his account as of his
Severance from Service Date. 
 (iii) If a Participant is rehired by the Employer or an Affiliated Company before
incurring five consecutive Periods of Severance, any amount forfeited under subsections (i) or (ii) shall be restored to his account as soon as administratively practicable. Such restoration shall be made from currently forfeited amounts
in accordance with subsection (iv), or from additional contributions by the Employer and shall be invested in the Qualified Default Investment Alternative. 
 (iv) Amounts forfeited shall be used to first restore future amounts required to be restored in accordance with subsection (iii) with respect to the Plan Year. After such restoration, if any, is
made, such amounts shall be used to reduce future Company Core Contributions and Company Matching Contributions made by the Employer by which the former Participant was employed, or to defray administrative costs of the Plan as determined by the
Company. 
 3.06 Timing of Contributions. Before-Tax, After-Tax and Catch-up Contributions shall be transferred to
the Trustee as soon as practicable following the date on which the Participant’s pay is reduced by the amount of the contribution. Company Matching Contributions and Company Core Contributions shall be transferred to the Trustee at least
annually, but in all cases no later than the last date on which amounts so paid may be deducted for federal income tax purposes for the taxable year of the Employer in which the Plan Year ends. 

3.07 Nondiscrimination Limitations and Corrective Measures. 

(a) For purposes of this Section 3.07, the following terms shall have the meanings indicated below: 

(i) Actual Contribution Percentage. The Actual Contribution Percentages for a Plan Year for the group of all
Highly Compensated Employees and for the group of all Nonhighly Compensated Employees respectively are the averages, 

  
 25 

 
calculated to the nearest one-hundredth of a percentage point (.01%), of the ratios, calculated separately to the nearest one-hundredth of a percentage point (.01%) for each Employee in the
respective group, of the amount of Company Matching Contributions and After-Tax Contributions (and any Qualified Non-Elective Contribution made under Paragraph 3.07(c)(x) for purposes of satisfying the Actual Contribution Percentage Test) made
to the Plan on behalf of each such Employee for such Plan Year, to the Employee’s Compensation for such Plan Year, whether or not the Employee was a Participant for the entire Plan Year. The Actual Contribution Percentage calculation may
include Before-Tax Contributions, excluding Catch-up Contributions, so long as: (A) the Actual Deferral Percentage Test is met before such Before-Tax Contributions are used in the Actual Contribution Percentage Test, and continues to be met
following the exclusion of those Before-Tax Contributions that are used to meet the Actual Contribution Percentage Test and (B) the requirements of Treasury Regulation §1.401(m)-1(b)(5) are satisfied. For purposes of determining the
Actual Contribution Percentage, only those Employees who are eligible to elect After-Tax Contributions or to receive Company Matching Contributions for all or a portion of the applicable Plan Year, or who would be so eligible absent a suspension in
accordance with the terms of the Plan, are taken into account; any such Employee who would be a Participant if such Employee made an After-Tax Contribution or had a Before-Tax Contribution made on his behalf shall be treated as an eligible Employee
on behalf of whom no After-Tax Contributions or Company Matching Contributions are made. 
 For purposes of this Section, and
except as otherwise provided in Treasury regulations, if the Plan and any other plan are aggregated for purposes of Code Section 410(b) (other than for purposes of the average benefit percentage test), such plans (including the Plan) shall be
treated as one (1) plan for purposes of calculating the Actual Contribution Percentage. Except as otherwise provided in Treasury regulations, if any Highly Compensated Employee who is a Participant in this Plan also participates in any other
plan of the Employer to which employee or matching contributions are made, all such plans (including the Plan) shall be treated as one (1) plan with respect to such Participant. 

  
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 (ii) Actual Contribution Percentage Test means the test
described in Paragraph 3.07(b)(ii). 
 (iii) Actual Deferral Percentage. The Actual Deferral
Percentages for a Plan Year for the group of all Highly Compensated Employees and for the group of all Nonhighly Compensated Employees respectively are the averages, calculated to the nearest one-hundredth of a percentage point (.01%), of the
ratios, calculated separately to the nearest one-hundredth of a percentage point (.01%) for each Employee in the respective group, of the amount of Before-Tax Contributions, excluding Catch-up Contributions (and Qualified Non-Elective Contributions
made under Paragraph 3.07(c)(x) for purposes of satisfying the Actual Deferral Percentage Test), paid under the Plan on behalf of each such Employee for such Plan Year, including Excess Deferrals, to the Employee’s Compensation for such
Plan Year (whether or not the Employee was a Participant for the entire Plan Year) but excluding Before-Tax Contributions that are taken into account in the Actual Contribution Percentage Test. Only those Employees who are eligible to elect
Before-Tax Contributions for all or a portion of the applicable Plan Year, or who would be so eligible absent a suspension in accordance with the terms of the Plan, are taken into account; any such Employee who would be a Participant but for the
failure to have Before-Tax Contributions made on his behalf shall be treated as an eligible Employee on whose behalf no Before-Tax Contributions are made. 
 For purposes of this Section and except as otherwise provided in Treasury regulations, if the Plan and any other plan which includes a cash or deferred arrangement (within the meaning of Code
Section 401(k)) are aggregated for purposes of Code Section 410(b) (other than for purposes of the average benefit percentage test), the cash or deferred arrangements in such plans (including the Plan) shall be treated as one (1) plan
for purposes of calculating the Actual Deferral Percentage. Except as otherwise provided in Treasury regulations, if any Highly Compensated Employee who is a Participant in this Plan also participates in any other cash or deferred arrangement
(within the meaning of Code Section 401(k)) of the Company or an Affiliated Company, all such cash or deferred arrangements (including under the Plan) shall be treated as one (1) cash or deferred arrangement with respect to such
Participant. 

  
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 (iv) Actual Deferral Percentage Test means the test described
in Paragraph 3.07(b)(i). 
 (v) Compensation shall mean, except as otherwise provided in the
definition of “Highly Compensated Employee”, a definition of compensation which satisfies Code Section 414(s) and regulations thereunder, and which is consistently used in any one Plan Year for purposes of this Section 3.07.

 (vi) Excess Aggregate Contributions mean, with respect to any Highly Compensated Employee for a
Plan Year, the excess of: 
  

	 	(A)	The total After-Tax Contributions and Company Matching Contributions (and, where applicable, Before-Tax Contributions, taken into account under the Actual Contribution
Percentage Test) made on behalf of such Highly Compensated Employee taken into account in computing the Actual Contribution Percentage for such Plan Year, over 

 

	 	(B)	The maximum amount of After-Tax Contributions and Company Matching Contributions (and, where applicable, Before-Tax Contributions, taken into account under the Actual
Contribution Percentage Test) on behalf of such Highly Compensated Employee which are permitted by the Actual Contribution Percentage Test. 

 (vii) Excess Contributions mean, with respect to any Highly Compensated Employee for a Plan Year, the excess of: 

 

	 	(A)	The total Before-Tax Contributions made on behalf of such Highly Compensated Employee taken into account in computing the Actual Deferral Percentage of Highly
Compensated Employees for such Plan Year, over 

  
 28 

	 	(B)	The maximum amount of such Before-Tax Contributions, excluding Catch-up Contributions, on behalf of such Highly Compensated Employee which are permitted by the Actual
Deferral Percentage Test. 

 (viii) Excess Deferrals mean the Before-Tax
Contributions that are includible in a Participant’s gross income because they have exceeded the dollar limitation contained in Code Section 402(g). 
 (ix) Highly Compensated Employee means any Employee who performs service for the Company or an Affiliated Company during the determination year (as defined below) and who was: (A) a
Five-Percent Owner at any time during the current or preceding Plan Year, or (B) for the preceding Plan Year had Compensation from the Employer or an Affiliated Company in excess of $115,000 (as adjusted pursuant to Code Section 414(q)).
At the election of the Plan Administrator and, as provided for in Exhibit III, in a manner consistent with Code Section 414(q) and any regulations or other IRS pronouncements thereunder, clause (B) in the preceding sentence can be
limited to those Employees who are in the top twenty percent (20%) of Employees ranked on the basis of compensation for such look-back year. At the election of the Plan Administrator, as provided for in
Exhibit III, Compensation for the purpose of this Paragraph 3.07(a)(ix) may be determined on the basis of a calendar year, rather than the Plan Year. 
 (x) To the extent required by applicable law “Highly Compensated Employee” shall also include a highly compensated former employee, which is any employee who separated from service prior to the
current Plan Year and who was either a Highly Compensated Employee in any determination year ending on or after the Employee’s attainment of age fifty five (55). 

For purposes of this definition, Compensation is as defined in Code Section 415(c)(3). 

(xi) Nonhighly Compensated Employee means any employee who is not a Highly Compensated Employee. 

  
 29 

 (xii) Qualified Non-Elective Contributions mean contributions
made by the Company described in Paragraph 3.07(c)(x). 
 (xiii) Five Percent Owner means an
Employee who shall be considered to be a Five Percent Owner for any Plan Year if at any time during such year such Employee was a five percent owner of the Employer, determined in accordance with the rules of Code Section 416(i)(1). 

(b) Nondiscrimination Tests. 
 (i) Actual Deferral Percentage Test. Notwithstanding any provision herein to the contrary, the Actual Deferral Percentage for the group of all eligible Highly Compensated Employees for each
Plan Year must not exceed the greater of: 
  

	 	(A)	the Actual Deferral Percentage for the previous Plan Year for the group of all eligible Nonhighly Compensated Employees multiplied by 1.25; or 

 

	 	(B)	the Actual Deferral Percentage for the previous Plan Year of such group of Nonhighly Compensated Employees multiplied by 2.0, but in no event more than two
(2) percentage points greater than the Actual Deferral Percentage for the previous Plan Year of such group of Nonhighly Compensated Employees. 

 The Vice President - Human Resources, by written notice to the Plan Administrator may elect to entirely exclude from the Actual Deferral Percentage test those Employees who could be excluded from
participation under the minimum age and service requirements of Code Section 410(a)(1)(A) (“early participation employees”), other than those early participation employees who are Highly Compensated Employees, to the extent permitted
under Code Section 401(k)(3)(F). Any such election shall be reflected in Exhibit III. 

  
 30 

 The Actual Deferral Percentage test set forth in this Paragraph 3.07(b)(i) shall be
performed in accordance with Code Section 401(k), the regulations thereunder, and any related IRS pronouncements, including IRS Notice 98-1 to the extent applicable. The Actual Deferral Percentage test set forth in this
Paragraph 3.07(b)(i) may be performed with current year Non-Highly Compensated Employee data, rather than prior year data, if so elected by the Employer. Any such election shall be made by the Vice-President - Human Resources and shall be
reflected in Exhibit III. 
 (ii) Actual Contribution Percentage Test. Notwithstanding any
provision herein to the contrary, the Actual Contribution Percentage for the group of all eligible Highly Compensated Employees for each Plan Year must not exceed the greater of: 

 

	 	(A)	The Actual Contribution Percentage for the previous Plan Year for the group of all eligible Nonhighly Compensated Employees multiplied by 1.25; or

  

	 	(B)	The Actual Contribution Percentage for the previous Plan Year of such group of Nonhighly Compensated Employees multiplied by 2.0, but in no event more than two
(2) percentage points greater than the Actual Contribution Percentage for the previous Plan Year of such group of Nonhighly Compensated Employees. 

 The Vice President - Human Resources, by written notice to the Plan Administrator may elect to entirely exclude from the Actual Contribution Percentage Test those Employees who could be excluded from
participation under the minimum age and service requirements of Code Section 410(a)(1)(A) (“early participation employees”), other than those early participation employees who are Highly Compensated Employees, to the extent permitted
under Code Section 401(m)(5)(C). Any such election shall be reflected in Exhibit III. 
 The Actual Contribution
Percentage test set forth in this Paragraph 3.07(b)(ii) shall be performed in accordance with Code Section 401(m), the regulations thereunder, and any related IRS pronouncements, including IRS
Notice 98-1 to the extent applicable. The Actual Contribution Percentage test set forth in this 

  
 31 

 
Paragraph 3.07(b)(ii) may be performed with current year Non-Highly Compensated Employee data, rather than prior year data, if so elected by the Employer. Any such election shall be made by
the Vice President - Human Resources and shall be reflected in Exhibit III. 
 (iii) For purposes of
Paragraph 3.07(b), a Participant is a Highly Compensated Employee for a particular Plan Year if he or she satisfies the definition of a Highly Compensated Employee in effect for that Plan Year. Similarly, a Participant is a Nonhighly
Compensated Employee for a particular Plan Year if he or she does not satisfy the definition of a Highly Compensated Employee in effect for that Plan Year. 
 (c) Notwithstanding any other provision of the Plan to the contrary, the percentages of Annual Salary specified by a Participant in his Deferral Election shall be subject to adjustment or other corrective
measures by the Plan Administrator at any time and from time to time as follows: 
 (i) Before-Tax Contributions,
excluding Catch-up Contributions, shall not be accepted with respect to any Participant for a calendar year to the extent such Before-Tax Contributions, together with any other elective contributions of the Participant to a plan maintained by the
Company or an Affiliated Company, exceed $9,500 (as adjusted in accordance with Code Section 402(g)); accordingly, the Plan Administrator shall adjust downward the percentage of Annual Salary specified by a Participant in his Deferral Election
to be contributed to the Plan as Before-Tax Contributions, as may be necessary to prevent such Excess Deferrals. 

(ii) Before-Tax Contributions, excluding Catch-up Contributions, for any Plan Year must satisfy the Actual Deferral
Percentage Test; accordingly, the Plan Administrator shall adjust downward the percentage of Annual Salary specified by a Participant in his Deferral Election, to the extent which the Plan Administrator in his sole discretion determines is necessary
to maintain the Plan’s compliance with the Average Deferral Percentage Test. 

  
 32 

 (iii) After-Tax Contributions and Company Matching Contributions for any
Plan Year must satisfy the Actual Contribution Percentage Test (after taking into account any Before-Tax Contributions included in such test pursuant to Paragraph 3.07(a)(i)); accordingly, the Plan Administrator shall adjust downward the
percentage of Annual Salary specified by a Participant in his Deferral Election to be contributed under Paragraph 3.02(b), to the extent which the Plan Administrator in his sole discretion determines is necessary to maintain the Plan’s
compliance with the Actual Contribution Percentage Test. 
 (iv) When a downward adjustment has been made
pursuant to Paragraph (i), (ii), or (iii) above, the Plan Administrator may thereafter adjust any such percentage upward to bring it up to or closer to the percentage specified in the Participant’s most recent Deferral Election
whenever the Plan Administrator determines that such an upward adjustment can be made without exceeding the limits described in Paragraph (i), (ii), or (iii). In the event of such upward adjustment, each affected Participant shall be given the
opportunity to affirmatively elect to have such higher percentage apply to him. 
 (v) Any downward or upward
adjustment in the percentage of Annual Salary specified by a Participant in his Deferral Election to be contributed to the Plan as Before-Tax Contributions other than Catch-up Contributions shall, with the Participant’s consent and unless the
Plan Administrator directs otherwise, result in a corresponding increase or decrease, respectively, in After-Tax Contributions to be contributed to the Plan to the extent permitted under Paragraph (iii) or, if the Participant is eligible,
Catch-up Contributions. 
 (vi) If, after application of the above provisions of Paragraph 3.07(c), Excess
Deferrals are made to the Plan, such Excess Deferrals shall be re-characterized as Catch-up Contributions to the extent that a Participant who is eligible to make Catch-up Contributions has not reached the applicable Catch-up Contribution limit for
the calendar year described in Section 3.02(c). Any Excess Deferrals remaining after application of the preceding sentence shall be returned to the 

  
 33 

 
Participant with earnings through the end of the calendar year in accordance with Treasury Regulation §1.402(g)-1, no later than April 15 following the close of the calendar year
in which such contributions were made. Distributions shall first be made from Unmatched Contributions, excluding Catch-up Contributions, then from Matched Contributions. The return of any Matched Contributions shall be accompanied by a forfeiture of
the related Company Matching Contributions and any income attributable thereto. Such forfeited amounts shall be held by the Trustee in a suspense account and applied towards subsequent Company Matching Contributions. 

(vii) After the close of a calendar year, but no later than the last Business Day before April 15 (or such earlier
date required by Treasury regulations) following such calendar year, a Participant who was also a participant in another plan to which the limitation on deferrals described in Code Section 402(g) applies may notify the Plan Administrator that
the Participant has had deferrals contributed to the Plan and such other plan in excess of such limitation for such preceding calendar year and shall inform the Plan Administrator of the amount of such Excess Deferrals. Such Participant may request
a distribution of such Excess Deferrals. Such Excess Deferrals shall first be re-characterized as Catch-up Contributions to the extent that a Participant who is eligible to make Catch-up Contributions has not reached the applicable Catch-up
Contribution limit for the calendar year described in Section 3.02(c). Any Excess Deferrals remaining after application of the preceding sentence shall be distributed with the earnings attributable thereto through the end of the calendar year
in accordance with Treasury Regulation §1.402(g)-1 no later than the April 15 following such notification. Distributions shall first be made from Unmatched Contributions, excluding Catch-up Contributions, and the return of any Matched
Contributions shall be accompanied by a forfeiture of the related Company Matching Contributions and any income attributable thereto. Such forfeited amounts shall be held by the Trustee in a suspense account and applied towards subsequent Company
Matching Contributions. 

  
 34 

 (viii) If, after application of the above provisions of
Paragraph 3.07(c), Excess Contributions are made to the Plan, such Excess Contributions shall be re-characterized as Catch-up Contributions to the extent that a Participant who is eligible to make Catch-up Contributions has not reached the
applicable Catch-up Contribution limit for the calendar year described in Section 3.02(c). Any Excess Contributions and the earnings attributable thereto through the end of the calendar year remaining after application of the preceding sentence
shall be distributed to Highly Compensated Employees making such Excess Contributions no later than December 15 following the close of such Plan Year. The Highly Compensated Employee with the largest amounts of Before-Tax Contributions shall
have his Before-Tax Contributions, excluding Catch-up Contributions, reduced to the greater of: (A) the highest dollar amount of Before-Tax Contributions, excluding Catch-up Contributions, that can be made without violating the limit of
Paragraph 3.07(b)(i), or (B) the next highest dollar amount of Before-Tax Contributions, excluding Catch-up Contributions, of any other Highly Compensated Employee. Such process is repeated until Paragraph 3.07 (b)(i) is satisfied in
accordance with Treasury Regulation §1.401(k)-1(f)(4)(ii). Distributions shall first be made from Unmatched Contributions, excluding Catch-up Contributions, then from Matched Contributions. The return of any Matched Contributions shall be
accompanied by a forfeiture of the related Company Matching Contributions and any income attributable thereto. Such forfeited amounts shall be held by the Trustee in a suspense account and applied towards subsequent Company Matching Contributions.

 (ix) If, after application of the above provisions of Paragraph 3.07(b)(ii), Excess Aggregate
Contributions are made to the Plan, such Excess Aggregate Contributions shall be re-characterized as Catch-up Contributions to the extent that a Participant who is eligible to make Catch-up Contributions has not reached the applicable Catch-up
Contribution limit for the calendar year described in Section 3.02(c). Any Excess Aggregate Contributions and the earnings attributable thereto through the end of the calendar year remaining after application of the preceding sentence shall be
distributed to Highly Compensated Employees making such Excess Aggregate Contributions no later than December 15 following the close of the Plan Year. The Highly Compensated Employee with the largest amounts of contributions taken into account
in computing the Actual Contribution Percentage Test (“ACP contributions”) shall have his ACP contributions reduced to the greater of: (A) the 

  
 35 

 
highest dollar amount of ACP contributions that can be made without violating the limit of Paragraph 3.07(b)(ii), or (B) the next highest dollar amount of ACP contributions of any other
Highly Compensated Employee. Such process is repeated until Paragraph 3.07(b)(ii) is satisfied in accordance with Treasury Regulation §1.401(m)-1(e)(3)(iv). To the extent permitted by such regulation, After-Tax Contributions and any
Company Matching Contributions attributable thereto shall be distributed first. 
 (x) Notwithstanding any other
provision of this Section 3.07 or of the Plan to the contrary, the Employer may, by action of the Company, determine to make a special Employer contribution (a “Qualified Non-Elective Contribution”) to the Plan for the account of
certain Participants who are Nonhighly Compensated Employees in order to maintain the Plan’s compliance with the non-discrimination requirements of Code Sections 401(k) and 401(m) and in lieu of (or in combination with) making the
adjustment in the percentage of Annual Salary specified by Participants in their Deferral Elections or returning Contributions as provided in this Section 3.07. Any such Qualified Non-Elective Contribution shall be in such amount as is
determined by the Company and will be allocated as determined by the Company to the individual accounts of Participants who are Nonhighly Compensated Employees and who actively contributed to the Plan during, and are Employees at the end of, the
Plan Year for which such contribution is made. Any such Qualified Non-Elective Contribution shall be nonforfeitable and shall be treated for all purposes as a Before-Tax Contribution under the Plan, including
for purposes of the limitations on distribution described in this Article 3, except that such contribution shall not be applied against or counted for purposes of determining compliance with the percent limitation on Before-Tax Contributions in
Section 3.02, the combined percent limitation on Before-Tax Contributions and After-Tax Contributions contained in Section 3.02, or the limitation on Before-Tax Contributions contained in this Section 3.07. Any such Qualified Non-Elective Contribution shall be made to the Trustee no later than the last day of the Plan Year next succeeding the Plan Year for which the contribution is made, and may be made in whole or in part in cash or in
shares of Company Stock. Payment of any such Qualified Non-Elective Contribution (whether in the form of cash or Company Stock) for a Plan Year which is made by the Employer after the close of such Plan Year shall be treated by the Plan in the same
manner as if it were received on or before the last day of such Plan Year. 

  
 36 

 3.08 In- Service Withdrawals by Participants of After-Tax Contributions, Rollover
Contributions, Company Matching Contributions, Before-Tax and Catch-up Contributions. The following Section 3.08 shall apply with respect to a Participant who has not separated from service with the Employer. 

(a) Age 59
 1/2 Withdrawal. Upon attainment of age 59  1/2 and upon application to the Trustee, a Participant may withdraw all available amounts credited to any After-Tax Contributions account, to any Rollover Contributions Account, to any Company Matching
Contributions Account or to any Before-Tax Contributions Account. The Plan Administrator shall withdraw the amount requested first from all available funds in any After-Tax Contributions account, second from all available funds in any Rollover
Contributions Account, third from all available funds in any Company Matching Contributions Account, and finally from all available funds in any Before-Tax Contributions Account. 

(i) An individual who attains age 59  1/2 may take such Age 59  1/2 Withdrawal once during each 12 month period. Any individual who attains age 59  1/2 and who takes such Age 59  1/2 Withdrawal during a twelve month period, if applicable, remains eligible to take an additional distribution pursuant to
Section 3.08(b),(c),(d), and (e) during such 12 month period. 
 (ii) An individual who takes an Age 59  1/2 Withdrawal shall not have his election to make Before-Tax Contributions, including Catch-up Contributions, or After-Tax
Contributions be affected by such withdrawal. 
 (b) Hardship Withdrawal. Upon application to the Trustee,
a Participant who qualifies for a hardship withdrawal may withdraw all available amounts credited to any After-Tax Contributions account, to any Rollover Contributions Account, to any Company Matching Contributions Account or to any Before-Tax
Contributions Account. The Plan Administrator shall withdraw the amount requested first from all available funds in any After-Tax Contributions account, second from all available funds in any Rollover Contributions Account, third from all available
funds in any Company Matching Contributions Account, and finally from all available funds in any Before-Tax Contributions Account. 

  
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 (i) A withdrawal will be deemed to constitute a hardship withdrawal
if: (1) the Participant has an immediate and heavy financial need; and (2) a distribution from the Plan is necessary to meet that need. A Participant will be treated as having an immediate and heavy financial need only if the funds are
required to cover one of the following: 
  

	 	(A)	Expenses for medical care described in Code Section 213(d) previously incurred by the Participant or the Participant’s spouse or dependents (as defined in
Code Section 152) or necessary for these persons to obtain such medical care, or, effective October 1, 2007, expenses for medical care previously incurred by a primary Beneficiary of the Participant or expenses necessary for a primary
Beneficiary to obtain such medical care; 

  

	 	(B)	Costs directly related to the purchase (excluding mortgage payments) of a principal residence for the Participant; 

 

	 	(C)	Post-secondary education tuition, related educational fees, and room and board expenses for the Participant or the Participant’s spouse, children, or other
dependents (as defined in Code Section 152) for the next twelve (12) months, or, effective October 1, 2007, such fees and expenses for a primary Beneficiary of the Participant for the next twelve (12) months;

  

	 	(D)	Payment of amounts necessary to prevent the eviction of the Participant from his principal residence or foreclosure on the mortgage of the Participant’s principal
residence; 

  

	 	(E)	Effective October 1, 2006, payments for funeral or burial expenses for a deceased parent, spouse, child or dependent, and effective October 1, 2007, such
payments for a primary Beneficiary of the Participant; 

  

	 	(F)	Effective October 1, 2006, repair to a principal residence for damage that would qualify for the casualty deduction under Code Section 165 (determined without
regard to whether the loss exceeds 10 percent of adjusted gross income); or 

  
 38 

	 	(G)	Any other purposes for which the Internal Revenue Service specifically determines, under the authority given to it under Treasury Regulation §1.401(k)-1(d)(3)(v),
that such circumstances constitute an immediate and heavy financial need. 

 (ii) For the purposes
of this section, a “primary Beneficiary” is an individual who is named as a Beneficiary under the Plan and has an unconditional right to all or a portion of the Participant’s account balance under the Plan upon the death of the
Participant. 
 (iii) If an immediate and heavy financial need is deemed to exist, a distribution from the Plan
will be deemed necessary to meet such need if, and only if, the following conditions are met: 
  

	 	(A)	the distribution is not in excess of the amount of the immediate and heavy financial need of the Participant, including amounts necessary to pay any federal, state, or
local income taxes or penalties reasonably anticipated to result from the distribution; 

  

	 	(B)	the Participant has obtained all distributions, other than hardship distributions, and has applied for all nontaxable (at the time of the loan) loans currently
available under all plans maintained by the Company or an Affiliated Company; and 

  

	 	(C)	the Participant will be prohibited from making elective contributions (as defined in Treas. Reg. §1.401(k)-6) or receiving employer contributions (as defined
in Treas. Reg. §1.401(m)-1(f)(6)) to any qualified or non-qualified deferred compensation plans maintained by the Company or an Affiliated Company (as determined in accordance with Treas. Reg. §1.401(k)-1(d)(3)(iv)(E)(2)) for six
(6) months commencing as soon as administratively possible following the hardship withdrawal. 

  
 39 

 (iv) No hardship withdrawal of earnings on Before-Tax or Catch-up
Contributions shall be permitted to the extent that such earnings are attributable to periods after December 31, 1988. 

(c) Qualified Reservist Distribution. Upon application to the Trustee, a Participant who meets the requirements of Code
Section 72(t)(2)(G)(iii) may withdraw all or a portion of the amounts available in any Before-Tax Contributions Account. Any individual who meets the requirements to receive a Qualified Reservist Distribution and who takes such Qualified
Reservist Distribution during a twelve month period, if applicable, remains eligible to take an additional distribution pursuant to Section 3.08(a), (b), (c), (d), and (e) during such 12 month period. An individual who takes a Qualified
Reservist Distribution shall not have his election to make Before-Tax Contributions, including Catch-up Contributions, or After-Tax Contributions be affected by such withdrawal. 

(d) Heroes Earnings Assistance and Relief Tax Act of 2008. A Participant who meets the requirements of
Section 3.16(d) shall have a distribution event pursuant to Section 3.10. A Participant who takes such distribution will be prohibited from making elective contributions (as defined in Treas. Reg. §1.401(k)-6) or receiving
employer contributions (as defined in Treas. Reg. §1.401(m)-1(f)(6)) to any qualified or non-qualified deferred compensation plans maintained by the Company or an Affiliated Company (as determined in accordance with Treas.
Reg. §1.401(k)-1(d)(3)(iv)(E)(2)) for six (6) months commencing as soon as administratively possible following such distribution. 

  
 40 

 (e) Other In-Service Withdrawals. 

(i) After-Tax Contributions. Upon application to the Trustee at any time no sooner than twelve
(12) months after any earlier withdrawal by such Participant of After-Tax Contributions under Section 3.08(e)(i), Rollover Contributions under Section 3.08(e)(ii), or Company Matching Contributions under Section 3.08(e)(iii), a Participant may
withdraw amounts then credited to his After-Tax Contributions account but excluding earnings on these amounts and provided such amounts have been in the Plan for at least two years. 

There shall be no suspension of the withdrawing Participant’s right to make Before-Tax Contributions or After-Tax Contributions
following a withdrawal under this Paragraph 3.08(e)(i). 
 (ii) Rollover Contributions. Upon
application to the Trustee at any time no sooner than twelve (12) months after any earlier withdrawal by him under this Section 3.08(e)(ii), After-Tax Contributions under Section 3.08(e)(i), or Company Matching Contributions under Section
3.08(e)(iii), a Participant may withdraw all or a portion of the amounts then credited to his Rollover Contributions account; provided, however, that such Participant shall first have withdrawn, or shall have applied to make a concurrent withdrawal
of all eligible amounts credited to his After-Tax Contributions account. There shall be no suspension of the withdrawing Participant’s right to make Before-Tax Contributions or After-Tax Contributions following a withdrawal under this
Paragraph 3.08(e)(ii) 
 (iii) Company Matching Contributions. Upon application to the Trustee
at any time no sooner than twelve (12) months after any earlier withdrawal by him under this Section 3.08(e)(iii), After-Tax Contributions under Section 3.08(e)(i), or Rollover Contributions under Section 3.08(e)(ii), a Participant may
withdraw amounts then credited to his Company Matching Contributions account but excluding earnings on these amounts and provided such amounts have been in the Plan for at least two years; provided, however, that such Participant shall first have
withdrawn, or shall have applied to make a concurrent withdrawal of all his eligible After-Tax Contributions and his Rollover Contributions . There shall be no suspension of the withdrawing Participant’s right to make Before-Tax Contributions
or After-Tax Contributions following a withdrawal under this Paragraph 3.08(e)(iii) 

  
 41 

 (f) Before-Tax Contributions. A Participant cannot withdraw amounts credited
to his Before-Tax Contribution accounts, except that a Participant may withdraw all or a portion of such amounts pursuant to Sections 3.08(a), 3.08(b), 3.08(c) and 3.16. 
 (g) Withdrawal Procedures. The Plan Administrator shall establish administrative procedures for obtaining withdrawals. 

3.09 Loans to Participants. Upon application to the Trustee by a Participant or Beneficiary who is not a Party in Interest,
the Plan Administrator may authorize the Trustee to make a loan or loans to such Participant or Beneficiary. Any such loans shall be subject to at least the following requirements: 

(a) Loans shall be made available on a uniform and nondiscriminatory basis. 

(b) Loans must bear a reasonable interest rate which will be determined by the Plan Administrator and which will be fixed for the term of
the loan. All loans will be secured by up to fifty percent (50%) of the borrower’s vested Plan accounts (determined as of the time of the loan). 
 (c) The minimum loan amount is $1,000. 
 (d) No loan can be made to the extent
that such loan, when added to the outstanding balance of all other loans to the borrower under this Plan and any other plan of the Company or an Affiliated Company, would exceed the lesser of: (i) fifty thousand dollars ($50,000), reduced by
the excess of (A) the highest outstanding balance of loans to the borrower from the Plan and such other plans during the one-year period ending on the day before the date the loan is made over
(B) the outstanding loan balance on the date the loan is made, or (ii) one-half of the vested value of the borrower’s accounts under this Plan and such other plan(s). In addition, no loan under this Plan, when added to any existing
loans hereunder, shall exceed the value of the amounts credited to the borrower’s After-Tax Contributions, Before-Tax Contributions, and Company Matching Contributions accounts, plus the borrower’s vested Company Core Contribution account.

  
 42 

 (e) Any loan shall, by its terms, require repayment within five (5) years unless such
loan is used to acquire a dwelling unit which, within a reasonable time (determined at the time the loan is made), will be used as the principal residence, within the meaning of Code Section 121, of the borrower, in which case the loan shall be
repaid within such period as may be established by the Vice President – Human Resources. Notwithstanding the above, all loans shall be immediately due and payable upon the Participant’s severance from employment with the Company and
all Affiliated Companies, unless, at the discretion of the Plan Administrator, such loan is directly rolled over to a qualified plan of a subsequent employer of the Participant pursuant to an agreement between the Company and the subsequent
employer. The maximum number of loans which a borrower may have outstanding at one time is one residential and one non-residential loan. 
 (f) Certain fees apply when obtaining a loan through the Plan. Such fees, as they are in effect from time to time, will be set forth in the Summary Plan Description or in loan documentation provided to
the borrower. 
 (g) Repayment of Participant loans shall be by payroll deduction or other method approved by the Plan
Administrator on a level amortized basis with repayments made as specified in the loan documentation, but, in all cases, at least quarterly; except that a borrower may prepay in full the outstanding balance of his loan at any time in accordance with
procedures established by the Plan Administrator. Loan repayments may be suspended for one year during a Participant’s authorized unpaid leave of absence, or during such other period permitted by applicable law. Loan repayments may be suspended
as permitted under Code Section 414(u)(4) for any period in which the Participant is on a qualified military leave. 

  
 43 

 (h) Loans must be evidenced by a written promissory note. In the event
that a borrower fails to make a required payment when due, the loan shall be in default if the borrower fails to become current in his payments within ninety (90) days of such missed payment, or, if earlier, the default date as indicated in the
loan documentation. Upon default, the outstanding principal balance of the loan and all accrued interest thereon will be immediately due and payable, and will be satisfied from the borrower’s Plan accounts (at such time(s) as permitted by
applicable law) upon the occurrence of a Distribution Event or upon the Participant’s attainment of age fifty-nine and one-half (59 1/2). 
 (i) Each loan shall be a separate investment of the borrower’s
Plan accounts. The amount of the loan will first reduce the borrower’s Before-Tax and Catch-up Contributions accounts, then the borrower’s After-Tax Contributions account, then the borrower’s Rollover Contributions account, then the
borrower’s Company Matching Contributions account, and then the borrower’s vested Company Core Contributions account. Amounts within the Plan accounts allocated to each Participant Investment Fund also shall be reduced ratably. 

(j) Loan repayments, including both principal and interest, will be credited first to the borrower’s Company Core Contributions
account, if any. After repayments which are equal to the amount by which the borrower’s Company Core Contributions account, if any, was reduced to make a loan are credited to the Participant’s Company Core Contributions account, loan
repayments will be credited to the borrower’s Company Matching Contributions account, next to the borrower’s Rollover Contributions account, next to the borrower’s After-Tax Contributions account, next to the borrower’s Catch-Up
Contributions account and next to the borrower’s Before-Tax Contributions account. All payments shall be allocated among the Participant Investment Funds in accordance with the borrower’s most recent investment direction election for new
contributions. 
 Notwithstanding the foregoing, loans made pursuant to this Section 3.09 may be subject to such additional
uniform and nondiscriminatory rules as may from time to time be adopted by the Board, the Investment Committee or the Plan Administrator, which rules shall comply with the Code, ERISA, and other applicable law and may impose limitations on, or
requirements for obtaining Plan loans which are in addition to or more restrictive than those limitations and requirements set forth above in this Section 3.09. 

  
 44 

 3.10 Distributions Following Distribution Events. 

(a) Except as otherwise provided for in Paragraph 3.10(d) herein, after a Distribution Event other than death occurs as to the
Participant, the following will apply: 
 (i) All amounts credited to such
Participant’s accounts shall be retained in the Plan until the earliest of the Participant’s death, the Participant’s consent to and application for the Trustee to distribute the aggregate amounts in all of Participant’s Plan
Accounts to him in a lump sum or the Participant’s consent to and application for the Trustee to commence distribution of installment payments of his account to him in accordance with Section 5.01. Notwithstanding the preceding sentence,
distributions of a Participant’s Plan accounts shall commence no later than April 1 of the calendar year following his attainment of
age 70 1/2. Participants who attain age 70 1/2 on or after January 1, 2003, and continue employment with the Employer beyond age 70 1/2 may defer commencement of distribution under this Section until no later than April 1st of the calendar year following the calendar year in which the Participant retires. Notwithstanding the above, any
required distributions after age 70
 1/2 that are due to be paid in calendar year 2009 shall be waived unless an affirmative election to receive the distribution has been made by the Participant. 

(ii) In the event that the Participant consents to a lump sum distribution of the aggregate amounts in all of his Plan
accounts, by filing an election with the Trustee effective on or after the date of (A) the Participant’s termination of employment with the Company or an Affiliated Company, or (B) a Distribution Event as to the Participant, the
Participant shall receive a distribution of all amounts credited to such Participant’s Plan accounts, in the manner described in Section 5.01. In addition, a second distribution of any amount subsequently credited to a Participant’s
Company Matching Contributions account in accordance with Section 3.03 or to a Participant’s Company Core Contributions account in accordance with Section 3.04 shall be made as soon as practicable after actual receipt by the Trustee
of the Company Stock or cash contribution. 

  
 45 

 (b) In the event of the Participant’s death, the Participant’s Beneficiary shall
receive a distribution of all amounts credited to the Participant’s Plan accounts according to the distribution elections provided in Section 5.01. Subject to Paragraph 3.10(d), such distribution shall be made as soon as practicable
after the Participant’s death. 
 (c) Notwithstanding the previous paragraphs of this Section 3.10, if the aggregate
vested amount credited to the Participant’s Plan accounts does not exceed $1,000, such amount will, subject to Paragraph (d) below, be distributed to the Participant (or, in the case of the Participant’s death, the Participant’s
Beneficiary or Beneficiaries) in the manner provided in Section 5.01. 
 (d) At least thirty (30) days, but no more
than one hundred eighty (180) days, before a distribution is made to a Participant, a Participant shall be given notice of: (1) his ability to delay distribution in accordance with Paragraph 3.10(a)(i) above (if applicable),
(2) his ability to elect a direct rollover in accordance with Section 5.03, and (3) for former participants of the IGS Savings Plan, the ability to elect the optional forms of payment as provided in Exhibit II. At least thirty
(30) days, but no more than one hundred eighty (180) days, before benefits begin to a Beneficiary (including an alternate payee under a Qualified Domestic Relations Order), such Beneficiary must be given notice of his ability to elect a
direct rollover under Section 5.03. A distribution may be made less than thirty (30) days after receipt of the notice required by this Paragraph 3.10(d); provided that: (i) the notice clearly informs the Participant or
Beneficiary of the right to consider the decision regarding distribution or direct rollover for a period of thirty (30) days after the notice is provided, and (ii) after receiving the notice, the Participant or Beneficiary waives the
thirty (30) day period by electing a distribution. 

  
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 3.11 Distributions Pursuant to a Qualified Domestic Relations Order.
Notwithstanding any other provisions of the Plan, following the Plan Administrator’s determination that a domestic relations order received by the Plan Administrator and applicable to a Participant and any of such Participant’s Plan
accounts is a Qualified Domestic Relations Order, such distribution or distributions shall be made from such Participant’s Plan account or accounts, in accordance with such Qualified Domestic Relations Order and the Plan’s Qualified
Domestic Relations Order procedures, and in the manner described in Section 5.01, to the alternate payee or payees specified in such Qualified Domestic Relations Order. If so specified in a Qualified Domestic Relations Order, a distribution to
an alternate payee may be made prior to the date on which the Participant attains his “earliest retirement age” (as defined in Code Section 414(p)(4) and ERISA Section 206(d)(3)(E)).  

3.12 Rollovers into the Plan. Each Employee who is eligible pursuant to Paragraph 3.01(a) to participate in the Plan,
and any other Employee who is expected to become eligible to participate in the Plan who has received an eligible rollover distribution described in Code Section 402(c)(4), may make a cash contribution to the Plan (a “Rollover
Contribution”) of all or a portion of any such rollover distribution, provided that: (a) the acceptance of such Rollover Contribution will not adversely affect the continued qualified status of the Plan, and (b) the Plan Administrator
in due course receives all the documentation and other relevant information pertaining to such Rollover Contribution deemed necessary by the Plan Administrator for the proper administration of the Plan. Notwithstanding the above, the Plan does not
accept After-Tax Contributions that are a part of an eligible rollover distribution. Any such Rollover Contribution shall not be taken into account for purposes of determining: (i) the limitations set forth in Sections 3.02, 3.07, and
3.14; (ii) whether the Plan is “top-heavy” (as such term is defined in Code Section 416(g), unless the Rollover Contribution originates from the plan of the Company or an Affiliated Company); or (iii) the Company Matching
Contributions under Section 3.03. For the period during which an Employee is not otherwise a Participant, such Employee shall be treated as a Participant solely for the purpose of and with respect to such Rollover Contribution. 

  
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 3.13 Plan-to-Plan Transfers; Plan Mergers. At the discretion of the Investment
Committee, the Trustee may accept directly from a trustee or custodian any or all of the assets, including outstanding participant loans, held under another plan which is qualified under Code Section 401(a) for the benefit of Participants or
any other Employees who are expected to become Participants, either as a part of a transfer of assets from the trust for such other plan or a merger of such other plan with the Plan, provided that: (a) the acceptance of such transferred assets
will not adversely affect the continued qualified status of the Plan, (b) the Plan Administrator in due course receives all the documentation and other relevant information pertaining to such transferred assets deemed necessary by the Plan
Administrator for the proper administration of the Plan, and (c) any other conditions or requirements which may be established by the Investment Committee or the Plan Administrator are satisfied. Any assets which were held by the transferor
plan under a qualified cash or deferred arrangement, as such term is defined in Code Section 401(k), shall be treated as Before-Tax Contributions. Any assets which were held by the transferor plan pursuant to an election to make employee
Catch-up Contributions shall be treated as Catch-up Contributions. Any assets which were held by the transferor plan pursuant to an election to make employee after-tax contributions shall be treated as After-Tax Contributions. Any other transferred
assets shall be treated as Rollover Contributions for all purposes under the Plan, except that such transferred assets shall not be taken into account for purposes of determining: (i) the limitations set forth in Section 3.02, 3.07, and
3.14; (ii) whether the Plan is “top-heavy” (as such term is defined in Code Section 416(g), unless the transferor plan is a plan of the Company or an Affiliated Company); or (iii) the Company Matching Contributions under
Section 3.03. 
 Notwithstanding any contrary provisions of Section 3.08, the withdrawal by a Participant of any or
all of such transferred assets or any other assets derived from the investment thereof shall not result in a suspension of such Participant’s right to make contributions to the Plan or to have contributions made on his behalf under the Plan.
Alternate forms of benefits, and other benefits, rights, and features under the transferor or merged plan (including those identified in Section 5.05) shall be continued to the extent required to comply with ERISA and the Code. For the period
during which an Employee is not otherwise a Participant, such Employee shall be treated as a Participant solely for the purpose of and with respect to the portion of such transferred assets allocated to his Plan account. 

  
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 3.14 Limitation on Annual Additions to Participants’ Accounts.

 (a) Definitions. For purposes of this Section 3.14, the following definitions shall apply: 

(i) Annual Additions mean, in the case of this Plan and any other Defined Contribution Plan
maintained by the Company or an Affiliated Company, the aggregate of: (A) the amount of Company and Affiliated Company contributions including, but not limited to, Before-Tax Contributions, excluding Catch-up Contributions, and Company Matching
Contributions, Company Core Contributions, Qualified Non-Elective Contributions (as defined in Paragraph 3.07(a)(xiii)), and any forfeitures allocated to a Participant’s account during the Plan Year but excluding any amounts returned to a
Participant under Treasury Regulation §1.402(g)-1(e)(2) or (3), (B) the amount of a Participant’s After-Tax Contributions and any other after-tax contributions to a plan of the Company or an Affiliated Company, (C) amounts
described in Code Sections 415(l)(1) and 419A(d)(2). 
 (ii) Participant’s
Compensation means compensation which is paid to the Participant by the Company or an Affiliated Company for the Plan Year and which is required to be reported as wages for Federal income tax purposes on the Participant’s Form W-2.
Participant’s Compensation shall also include any Before-Tax Contributions, and any amount which is contributed or deferred by the Employer at the election of the Participant and which is not includible in the gross income of the Participant
under Code Sections 125 or 457. Notwithstanding the above, effective October 1, 2007, “Participant’s Compensation” shall not exceed the limitation provided under Code Section 401(a)(17) as adjusted pursuant to Code
Section 401(a)(17)(B) for any Plan Year. 
 (b) Basic Limitation.
Notwithstanding anything to the contrary contained in this Plan, the Annual Additions allocated to a Participant under the Plan and any other Defined Contribution Plan maintained by the Company or an Affiliated Company in respect of any Plan Year
(which shall be the limitation year) shall not exceed in the aggregate the lesser of $40,000 (as adjusted by Code Section 415(d)) or 100% of the Participant’s Compensation for such Plan Year.  

  
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 (c) Additional Rules. Notwithstanding the foregoing, effective for plan
years beginning before October 1, 2007, if the Participant’s Annual Addition to this Plan for any Plan Year would exceed the limitations of this Section 3.14 because of the allocation of forfeitures, a reasonable error in estimating a
Participant’s Compensation, a reasonable error in estimating the amount of Before-Tax Contributions, or for other reasons as permitted by the Commissioner of Internal Revenue, the excess of such Annual Addition over the amount which is
permissible under this Section 3.14 shall be disposed of as follows: After-Tax Contributions and, if necessary, Before-Tax Contributions (in that order), and gains or other earnings allocable thereto, to the extent they would reduce the excess
amount, will be returned to the Participant, while any Company Matching Contributions attributable thereto and any earnings on such Company Matching Contributions shall be forfeited, placed in a suspense account, and applied towards subsequent
Company Matching Contributions. For Plan Years beginning on and after October 1, 2007, any correction of excess contributions will be made pursuant to Section 7.04.  

3.15 Application of Top-Heavy Provisions. The Plan will be a top-heavy plan if: (a) the Plan is not required to be aggregated with any other plan under Paragraph 3.15(b)(i), and if the sum of the accounts of Participants who are “Key Employees” exceeds
60 percent of the sum of the accounts of all employees (subject to adjustment below), or (b) if the Plan must be aggregated with one or more other plans under Paragraph 3.15(b)(ii), and if the Plan is part of a top-heavy group;
provided, however, that the Plan will not be a top-heavy plan if it is a member of a group of plans described in Paragraph (b)(iii) below which is not a top-heavy group. In the event that the Plan becomes top-heavy, the minimum benefit
requirement of Paragraph 3.15(e) shall become applicable. 
 The date for determining the applicability of this
Section 3.15 for any Plan Year is the last day of the preceding Plan Year (“determination date”). 

  
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 The date for determining the value of the employees’ accounts (“valuation
date”) shall be the determination date. 
 (a) Key Employees. For purposes of this Section 3.15, the term
“Key Employee” means any employee or former employee (or a beneficiary of either in the event that such employee or former employee is deceased) who at any time during a Plan Year or any of the four preceding Plan Years is: 

(i) An officer of the Company or an Affiliated Company having annual compensation greater than $130,000 (as adjusted by
Code Section 416(i)(1)(A)); provided, however, that no more than the lesser of (A) fifty (50) employees, or (B) the greater of three (3) employees or 10 percent of all employees are to be treated as officers;

 (ii) A 5 percent owner of the Company or an Affiliated Company; or 

(iii) A 1 percent owner of the Company or an Affiliated Company having an annual compensation of more than one
hundred fifty thousand dollars ($150,000). 
 For purposes of this Paragraph 3.15(a), an employee’s compensation shall
mean compensation as determined under Code Section 414(q)(4). 
 An employee shall be considered to own more than a
5 percent interest if the employee owns more than 5 percent of the Company’s or an Affiliated Company’s outstanding stock or stock possessing 5 percent of the total combined voting power of all of the stock of the Company or
an Affiliated Company. An employee shall also be treated as owning stock owned by certain members of the employee’s family as provided in Code Section 318, as modified by Code Section 416(i)(1)(B). The same rules shall apply to
determine whether an employee is a 1 percent owner. If an employee ceases to be a Key Employee, such employee’s account shall be disregarded as an account of a Participant who is a Key Employee under the top-heavy plan computation for any
Plan Year following the last Plan Year for which such employee was treated as a Key Employee. 

  
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 (b) Top-Heavy Group. For purposes of determining whether the Plan is part of a
top-heavy group as referred to above in this Section 3.15, the following rules shall apply: 
 (i) All plans
maintained by the Company or an Affiliated Company which cover a Key Employee and any other plan which enables a plan covering a Key Employee to meet the requirements of Code Sections 401(a)(4) or 410 shall be aggregated to determine whether
the plans, as a group, constitute a top-heavy group. 
 (ii) An aggregation group shall be a top-heavy group if,
as of the determination date, the sum of (A) the accounts of Key Employees under all defined contribution plans included in the group and (B) the present value of the accumulated accrued benefits for Key Employees under all defined benefit
plans in the group, exceeds 60 percent of the sum of such accounts and present values for all employees under all such plans in the group. If the aggregation group is not a top-heavy group, no plan in the aggregation group shall be a top-heavy
plan. 
 (iii) In any Plan Year, in testing for top-heaviness under this Paragraph 3.15(b), the Employer may
in its discretion expand the aggregation group to take into account any other plan maintained by it or an Affiliated Company, so long as such expanded aggregation group continues to meet the requirements of Paragraphs 401(a)(4) and 410 of the
Code. If the expanded aggregation group is not a top-heavy group (as determined in accordance with the preceding paragraph), no plan in such expanded aggregation group shall be a top-heavy plan. 

(c) Additional Rules. In determining the present value of the accumulated accrued benefits under a Defined Benefit Plan and
the sum of the account balances under a Defined Contribution Plan, both Company and Affiliated Company contributions and employee contributions shall be taken into account. The present 

  
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value of the accrued benefit in a Defined Benefit Plan or the account balance in a Defined Contribution Plan shall include any amount distributed to an employee within the one-year period ending
on the determination date for the Plan Year, except for in-service withdrawals. The present value of the accrued benefit in a Defined Benefit Plan shall be calculated for any employee other than a Key Employee under (a) the method, if any, that
uniformly applies for accrual purposes under all plans maintained by the Company or an Affiliated Company, or (b) if there is no such method, an accrual rule rate which is not more rapid than the slowest accrual rate allowed under the
fractional accrual rate of Code Section 411(b)(1)(C). If there is more than one Defined Benefit Plan in an aggregation group, the actuarial assumptions used for such Defined Benefit Plans must be the same. If an employee has not performed
services for the Company or an Affiliated Company during the one-year period ending on the determination date for the Plan Year, any accrued benefit or account balance for such individual shall not be taken into account. 

(d) Vesting Requirements. If this Plan is determined to be top-heavy in any Plan Year under the provisions of this
Section 3.15, account balances will be or become fully vested in accordance with the vesting schedules under Sections 3.02, 3.03, and 3.05, or, if earlier, after a Participant completes at least three (3) Years of Vesting Service.

 (e) Minimum Benefit. If this Plan is determined to be top-heavy in any Plan Year under the
provisions of this Section 3.15, then the Employer’s contribution for such Plan Year to be allocated to each Participant who is not a Key Employee and is not covered by a collective bargaining agreement in such Plan Year shall not be less
than three (3) percent of such Participant’s compensation (as defined in Treasury Regulation §1.415(c)-2) or such lesser percentage (taking into account Before-Tax Contributions, excluding Catch-up Contributions, and Company
Matching Contributions and Company Core Contributions) as may be made with respect to the Key Employee who had the highest such percentage in such Plan Year. 

  
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 3.16 Heroes Earnings Assistance and Relief Tax Act of 2008 

 

	 	(a)	Death Benefits. In the case of a death occurring on or after January 1, 2007, if a Participant dies while performing qualified military service (as defined in Code
Section 414(u)), the survivors of the Participant are entitled to any additional benefits (other than benefit accruals relating to the period of qualifying military service) provided under the Plan as if the Participant had resumed and then
terminated employment on account of death. 

  

	 	(b)	Differential Wage Payments. For years beginning after December 31, 2008, (i) an individual receiving a differential wage payment, as defined by Code
Section 3401(h)(2), shall be treated as an employee of the employer making the payment, (ii) differential wage payment shall be treated as Compensation, and (iii) the Plan shall not be treated as failing to meet the requirements of
any provision described in Code Section 414(u)(1)(C) by reason of any contribution or benefit which is based on the differential wage payment. Notwithstanding anything in the Plan to the contrary, differential wage payments shall not be treated
as Compensation for purposes of determining contributions under the Plan. 

  

	 	(c)	Nondiscrimination Requirement. Section 3.16(b)(iii) shall apply only if all employees of the employer performing service in the uniformed services described in
Code Section 3401(h)(2)(A) are entitled to receive differential wage payments (as defined in Code Section 3401(h)(2)) on reasonably equivalent terms and, if eligible to participate in a retirement plan maintained by the employer, to make
contributions based on the payments on reasonably equivalent terms (taking into account Code Section 410(b)(3),(4) and (5)). 

  

	 	(d)	For years beginning after December 31, 2008, an individual who is performing service in the uniformed services described in Code Section 3401(h)(2)(A) for a
period of at least 30 days, for purposes of Code Section 401(k)(2)(B)(i)(I) shall be treated as severed from employment with the Company and shall have a Distribution Event under Plan Section 3.10. An individual receiving such distribution
shall not be able to make an elective deferral to the Plan during the six month period beginning on the date of distribution.” 

  
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 ARTICLE IV 
 TRUST FUND AND PARTICIPANT INVESTMENT FUNDS 
 4.01 Trust
Agreement. The Company has entered into a Trust Agreement for the Plan establishing the Trust Fund and the Participant Investment Funds. The Trustee under such Trust Agreement shall hold, invest, distribute, and administer the Trust Fund in
accordance with the terms of the Plan and the Trust Agreement and shall hold the contributions to each Participant Investment Fund, including income therefrom, as a unit. Any portion of a Participant Investment Fund may, pending its permanent
investment in an Investment Vehicle or distribution, be invested in interest-bearing investments of a short-term nature, even though the same may not be legal investments for trust funds under the laws applicable thereto. Any portion of a
Participant Investment Fund may be maintained in cash. The Trustee shall be responsible for making the final decision as to managing, acquiring, or disposing of that portion of any of the Participant Investment Funds described below , if any, not
subject to the management of investment manager or managers or to directions of the Investment Committee given pursuant to Paragraphs 6.04(a)(ii) or 6.04(b) respectively. 
 (a) Participant Investment Funds. All Participant Contributions transferred to the Trustee pursuant to Sections 3.02, 3.12, or 3.13 and Company Core Contributions transferred to
the Trustee pursuant to Section 3.04 shall be held and invested by the Trustee in the Participant Investment Funds in accordance with the directions of Participants given as hereinafter provided. The Company, by resolution of the Board or the
Investment Committee, shall have the right, in its discretion, to amend the Plan to establish additional Participant Investment Funds in which Participant Contributions may be invested in accordance with the directions of Participants or to
discontinue existing Participant Investment Funds.  
 (b) Investment of Company Matching
Contributions. All Company Matching Contributions shall be invested in the Company Stock Fund, except as otherwise provided in Section 4.04.  

  
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 4.02 Investment of Contributions in the Participant Investment Funds.
Subject to the provisions of Section 4.03, each Participant in the Plan, in accordance with procedures established by the Plan Administrator, will direct that the Trustee hold and invest in one or more Participant Investment Funds all amounts
credited to such Participant’s Plan accounts in respect of that Participant’s Matched Contributions and Unmatched Contributions thereafter deducted from his Annual Salary and in respect of any Company Core Contributions under
Section 3.04, Rollover Contributions under Section 3.12, or plan-to-plan asset transfers or mergers under Section 3.13, credited to his Plan accounts. A
Participant shall allocate his Participant Contributions and Company Core Contributions among the available Participant Investment Funds in multiples of one percent (1%); provided, however, that the total of such allocations must equal one hundred
percent (100%). No Participant shall have the right to give separate investment directions for amounts in respect of his Matched Contributions and Unmatched Contributions or in respect of his Company Core Contributions, Before-Tax Contributions,
Catch-up Contributions and After-Tax Contributions. Notwithstanding the above, if the Trustee does not receive direction from the Participant regarding amounts credited to such Participant’s Plan accounts, such amounts shall be held and
invested in the Qualified Default Investment Alternative. The Plan is intended to be a Participant-directed “Section 404(c) Plan” under ERISA Section 404(c) and the regulations thereunder, and the provisions of the Plan are to be
interpreted so as to effectuate such intent.  
 Each of the Participant Investment Funds is currently invested in the
particular Investment Vehicle specified in Appendix A, although the Investment Committee may from time to time replace, add to, or discontinue such Investment Vehicles, excluding the Company Stock Fund, without amending the Plan, upon notice to
Participants. 
 (a) Company Stock Fund. All Participant Contributions to the Company Stock Fund and Company
Matching Contributions made on or after October 1, 2002 and before October 1, 2007, shall be held in the Company Stock Fund – Current Year until the end of the Plan Year in which such Contributions are

  
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made. Throughout this Plan, prior to October 1, 2007, “Company Stock Fund” will refer collectively to The Company Stock Fund – ESOP and Company Stock Fund –
Current Year unless otherwise specified. On and after October 1, 2007, the Company Stock Fund will no longer be split into the two funds mentioned above, and “Company Stock Fund” will refer to a single fund. Contributions to the
Company Stock Fund shall be invested by the Trustee primarily in Company Stock, although a cash position is maintained to provide a liquidity level necessary for daily transactions. All Participant Contributions and Company Matching Contributions
shall both be invested in the Company Stock Fund by the Trustee as liquidity and investment manager; provided, however, that separate subaccounts shall be maintained for amounts attributable to Participant Contributions and Company Matching
Contributions. For Plan Years prior to October 1, 2007, all Participant Contributions and Company Matching Contributions held in the Company Stock Fund – Current Year as of the close of the New York Stock Exchange on the last Business
Day of each Plan Year will be transferred to the Company Stock Fund – ESOP prior to the start of business on the first Business Day of the following Plan Year. 
 4.03 Redirection of Investments of Participant Contributions. Each Participant may from time to time change his last prior investment direction pursuant to Section 4.02 or this
Section 4.03 to any other investment direction then permitted pursuant to Section 4.02, in accordance with procedures established by the Plan Administrator. Each such change of investment direction pursuant to this Section 4.03 shall
apply, at the Participant’s election, to (a) all amounts then credited to the Participant’s accounts (except as provided in Section 4.04 below) and/or (b) all contributions thereafter made by or on the Participant’s
behalf (except as provided in Section 4.04 below); provided, however, that the Plan Administrator may from time to time impose restrictions on the right to change prior investment directions as to Participant Contributions to one or more other
particular Participant Investment Funds, if the Plan Administrator determines that such restrictions on redirections are necessary to comply with the terms of the Investment Vehicles held in any Participant Investment Fund in which any amounts then
credited to Participants’ accounts are held. Notwithstanding the above, prior to October 1, 2007, Participants may not redirect 

  
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Participant Contributions or Company Core Contributions from the Company Stock Fund – Current Year to the Company Stock Fund – ESOP and may not redirect Participant
Contributions or Company Core Contributions from the Company Stock Fund ESOP to the Company Stock Fund – Current Year. 
 Any change in investment direction by a Participant for all or any portion of the Participant Contributions and Company Core Contributions, including related investment earnings or losses, then credited
to the Participant’s accounts will generally be effective as of the same Business Day on which notice is received, provided that notice is given prior to the close of the New York Stock Exchange on such day, and will be effective as of the
following Business Day if such notice is given after the close of the New York Stock Exchange. Any change in investment direction for future contributions will be effective as soon as administratively possible. A Beneficiary shall have the right to
change the investment direction for amounts in a Participant’s account until such account has been distributed in accordance with Section 3.10(b). 
 4.04 Investment of Company Matching Contributions. All amounts in each Participant’s Company Matching Contributions account shall be invested in the Company Stock Fund in accordance
with Section 4.02(a); provided, however, that Participant Contributions, Company Core Contributions and Company Matching Contributions which are commingled in the Company Stock Fund shall be accounted for in separate subaccounts and shall
remain subject to the separate Plan provisions which relate to each type of contribution. 
 A Participant shall be eligible to
redirect the investment of all Company Matching Contributions from the Company Stock Fund to another Participant Investment Fund. 
 4.05 Participants’ Accounts. The Plan Administrator shall cause to be established and maintained for each Participant an account for all amounts in respect of (a) Before-Tax
Contributions made on his behalf, (b) his After-Tax Contributions, (c) Catch-up Contributions, (d) Rollover Contributions, (e) Company Core Contributions, and (f) Company Matching Contributions attributable to his Matched
Contributions made 

  
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during each Plan Year. Effective October 1, 2006, for purposes of this Section 4.05, transferred assets described in Section 3.13 shall be credited to a Participant’s Rollover
Contributions account (except as otherwise provided in Section 3.13 in the case of certain assets which are treated as Before-Tax Contributions or Catch-up Contributions). Prior to October 1, 2006, transferred assets described in
Section 3.13 were credited as earnings to a Participant’s After-Tax Contributions account (except as otherwise provided in Section 3.13 in the case of certain assets which were treated as Before-Tax Contributions or Catch-Up
Contributions). Credits to Participants’ accounts for amounts invested pursuant to Section 4.02 in each of the Participant Investment Funds shall be allocated to the Participant’s Before-Tax Contributions, After-Tax Contributions,
Catch-up Contributions, Company Core Contributions and Company Matching Contributions accounts in proportion to the amounts credited to such accounts during the period for which such allocation is made. 

Credits to Participants’ accounts for amounts held and invested pursuant to Section 4.02 in the Participant Investment Funds,
including the Company Stock Fund shall be expressed in terms of their dollar value. Shares of Company Stock which are purchased from time to time during any Plan Year out of cash funds held by the Trustee under the Trust Agreement shall be valued
for purposes of the Plan at the average of the actual cost thereof, including transfer taxes, brokerage commissions, etc., if any, incident to the purchase thereof. Shares of Company Stock which are made available through Participant cash
distributions, loans, or investment changes shall be valued for purposes of the Plan at the Fair Market Value thereof at the close of the Business Day that the Participant’s application or direction to the Trustee is received for such
transaction, provided such application or direction is received prior to the close of that Business Day, and at the Fair Market Value thereof at the close of the following Business Day if the application or direction is received after the close of
the Business Day. Each Participant Investment Fund shall be valued daily by the Trustee. 

  
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 Beginning with the last prior valuation made, amounts credited to each Participant’s
accounts maintained hereunder shall be adjusted to reflect the effect of income collected and accrued, realized and unrealized profits and losses, expenses, and all other transactions affecting the Participant Investment Funds since the prior
valuation of the Participant Investment Funds. Such valuations and such adjustments of the amounts credited to Participants’ accounts shall be made so as to preserve for each Participant that Participant’s proportional beneficial interest
in each Participant Investment Fund, based upon contributions made by or on his behalf and invested in each such Participant Investment Fund. 
 The fact that credits shall be made to a Participant’s account in respect of Company Matching Contributions shall not vest in such Participant any right, title, or interest in the assets of the
Company Stock Fund, except at the time or times and upon the terms and conditions provided in the Plan. Except as provided in Section 4.07, a Participant shall have no right of request, direction, or demand upon the Trustee to exercise in the
Participant’s behalf any rights to purchase or sell securities which may be granted to the Trustee. The Trustee, in its discretion, may exercise or sell any rights to purchase other securities appertaining to securities held by the Trustee,
whether or not allocated to individual accounts. The accounts of Participants shall be appropriately credited. 
 No person
shall have any right to, or interest in, any assets of the Participant Investment Funds upon termination of employment or otherwise, except as provided from time to time under this Plan, and then only to the extent of the benefits payable to such
person under the Plan. All payments of benefits as provided for in this Plan shall be made solely out of the assets of the Participant Investment Funds and no fiduciary shall be liable therefore in any manner. No fiduciary or other person or entity
guarantees the Participant Investment Funds in any manner against investment loss or depreciation in asset value. 
 4.06
Account Statements; Investment Information. At such times as required by law or as the Plan Administrator deems necessary or desirable for the purpose of administering the Plan, each Participant will be furnished with a statement showing
the status of his or her Plan accounts as of such dates as are selected by the Plan Administrator. In addition, sufficient information shall be available to Participants to permit informed investment decisions as to the Participant Investment Funds
and Investment Vehicles in which Participant Contributions and Company Core Contributions may be invested. 

  
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 Information relating to Participants’ purchase, holding, and sale of units of interest
in Company Stock and exercise of voting, tender, and similar rights shall be maintained in accordance with procedures which shall be adopted and amended from time to time in writing by the Plan Administrator (the “Confidentiality
Procedures”) that are designed to safeguard the confidentiality of such information (except as necessary to comply with federal or applicable state law, such as securities law reporting rules for insiders). The Confidentiality Procedures shall
incorporate at least the safeguards of confidentiality as to exercising voting, tendering, and similar rights as are set forth in Section 4.07; and name a fiduciary to be responsible for receiving and acting on investment directions and/or
monitoring compliance with the Confidentiality Procedures and who shall be empowered to determine when an independent fiduciary should be designated to carry out such activities as to Company Stock relating to situations which such responsible
fiduciary determines will have a potential for undue influence (such as tender offers, exchange offers, and contested Board elections) all as contemplated by ERISA Section 404(c). 

4.07 Voting, Tendering, and Similar Rights as to Company Stock. Before each annual or special meeting of the stockholders
of the Company, the Trustee or its agent shall furnish or cause to be furnished to each Participant for whom an account is established and maintained under the Plan and to which units of interest in Company Stock are allocated a copy of the proxy
solicitation material for such meeting, which is provided to stockholders of the Company who are not Plan Participants, together with a request for the Participant’s confidential directions to the Trustee as to how the full shares of Company
Stock then represented by the units of interest allocated to such Participant’s account should be voted. Upon timely receipt of such directions, the Trustee shall vote such full shares as directed. Any such shares held by the Trustee as to
which it receives no voting directions and fractional shares shall be voted by the Trustee in the same proportions as shares to which voting directions have been received. 

  
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 Each Participant shall have the right, to the extent of the number of shares of Company
Stock represented by the units of interest allocated to his account, to confidentially direct the Trustee in writing as to the manner in which to respond to a tender or exchange offer with respect to shares of Company Stock. The Trustee shall use
its best efforts to timely distribute or cause to be distributed to each Participant the information distributed to stockholders of the Company who are not Plan Participants in connection with any such tender or exchange offer. Upon timely receipt
of such directions, the Trustee shall respond as directed with respect to such shares of Company Stock. If the Trustee shall not receive timely direction from a Participant as to the manner in which to respond to such a tender or exchange offer, the
Trustee shall not tender or exchange any shares of Company Stock with respect to which such Participant has the right of direction. The Trustee shall respond as to fractional shares in the same proportions as the shares as to which Participant
directions have been received. 
 Each Participant is, for purposes of this Section 4.07, hereby designated a “named
fiduciary” within the meaning of ERISA Section 403(a)(1) with respect to voting and responding to tender and exchange offers with respect to full shares of Company Stock as to which units of interest are allocated to his account, except to
the extent otherwise permitted by ERISA Section 404(c) because such Participant has exercised independent control over assets in his or her individual account in the manner described in Department of Labor Reg. §2550.404c-1
promulgated thereunder. “Participant” as used in this Section 4.07 shall include in the event of the death of a Participant, his Beneficiary, and in the event a Qualified Domestic Relations Order is applicable to an account, each
alternate payee under such Qualified Domestic Relations Order. Directions received by the Trustee from individual Participants as provided in this Section 4.07 shall be held by the Trustee in confidence and shall not be divulged or released to
any person, including directors, officers, or employees of the Company or any Affiliated Company, except as permitted by the Confidentiality Procedures. 

  
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 The Trustee is hereby empowered to set such deadlines for Participant returns of proxy,
tender, exchange, or similar directions as are necessary to assure the proper tally of such returns and timely action based on such response, consistent with the Confidentiality Procedures and the directions of any independent fiduciary appointed as
contemplated by the Confidentiality Procedures. 
 ARTICLE IV-A 

ESTABLISHMENT OF AN EMPLOYEE STOCK OWNERSHIP PLAN 
 4.01-A Effective May 15, 2002, the Company Stock Fund described in Section 4.02(a) is converted to an employee stock ownership plan (“ESOP”) as defined in Section 4975(e) of the
Code and the regulations thereunder. The ESOP is intended to form a portion of the Plan, the balance of which includes a qualified profit-sharing plan described in Section 401(a) of the Code which is not an ESOP. The ESOP shall hold Participant
Contributions pursuant to Deferral Elections described in Section 3.02, Company Core Contributions described in Section 3.04, and Company Matching Contributions described in Section 3.03. Prior to October 1, 2007, the ESOP shall
be the Participant Investment Fund described as the Air Products Company Stock Fund - ESOP. On and after October 1, 2007, the ESOP shall be the Participant Investment Fund described in Appendix A of the Plan as the Air Products Company Stock
Fund. 
 4.02-A The ESOP shall be primarily invested in Company Stock as described in Section 4.02(a). Company Stock as
defined herein is traded publicly on the New York Stock Exchange. A Participant may direct the Trustee to vote the Company Stock allocated to his account as described in Section 4.07. A Participant may elect a distribution of his account
balance in the Company Stock Fund to be paid in Company Stock or in cash as described in Section 5.01. A Participant may elect to diversify his account in the Company Stock Fund to the extent described in Section 4.03 and 4.04. A
Participant may begin receiving distributions of his accounts, including the Company Stock Fund, as provided in Section 3.08 or upon the occurrence of a Distribution Event as described in Section 2.21. Allocations of Participant
Contributions and Company Matching Contributions to the ESOP are made in proportion to the compensation of each Participant based on his or her Deferral Elections as described in Section 3.02. 

  
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 4.03-A Participants having all or a portion of their Participant accounts invested in
Company Stock in the ESOP may elect to receive a distribution of dividends paid on Company Stock that are allocated to their Participant accounts or to reinvest such dividends in the ESOP pursuant to Section 404(k)(2)(A) of the Code, and the
regulations thereunder. Dividends paid on the portion of a Participant’s account attributable to Company Core Contributions, including any related investment earnings and losses, may only be reinvested to the extent Company Core Contributions
and related earnings and losses are vested under Section 3.05(a) of the Plan. A participant who does not make an affirmative election under this Section 4.03-A shall be deemed to have elected to reinvest such dividends in the ESOP. The
Plan Administrator shall determine the procedure for making such election available to eligible Participants. 
 4.04-A
Participants who are employees of Affiliates of the Company that are subject to taxation as partnerships are permitted to participate in the ESOP and invest their Participant accounts in Company Stock, but are excluded from receiving dividends paid
on Company Stock to the Company Stock Fund – ESOP, or after October 1, 2007, the Company Stock Fund. 
 ARTICLE V

 MANNER OF DISTRIBUTION OF PARTICIPANT ACCOUNTS 

5.01 General. Subject to Sections 5.03 and 5.05, distribution to any person entitled to receive any amounts then held
by the Trustee in the Participant Investment Funds described in Article IV shall be made by the Trustee in a lump sum or, at the election of such person, in up to, but not exceeding, ten substantially equal annual installments, in the manner
described in (a) and (b) below. If installments are elected, the election may be rescinded at a later date, at which time the remaining balance in the Participant’s accounts shall be paid in a lump sum. 

  
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 (a) Cash Distributions. Amounts credited to a Participant’s accounts
which are held by the Trustee in any Participant Investment Fund other than the Company Stock Fund shall be distributed in cash. 
 (b) Company Stock Distributions. Amounts credited to a Participant’s accounts which are held by the Trustee in the Company Stock Fund shall be distributed in cash. Notwithstanding the
foregoing, amounts credited to a Participant’s account in the Company Stock Fund may be distributed in the form of shares of Company Stock at the election of the Participant or the Participant’s Beneficiary or alternate payee, as the case
may be. Distribution of a Participant’s interest in a fractional share of Company Stock shall be made in cash. Notwithstanding the above, for persons electing installment distributions commencing on or after October 1, 2006, distributions
of amounts credited to the Company Stock Fund must be made in cash. 
 The amount to be withdrawn or
distributed from a Participant’s account or accounts under Section 3.08 or 3.10, or pursuant to a Qualified Domestic Relations Order, shall be the amount or specified portion thereof credited to such Trustee account or accounts as of:
(i) the Business Day on which the account distribution or withdrawal request is received by the Plan Administrator; provided, however, that valuation shall take place as of the following Business Day if the request is received after the close
of the New York Stock Exchange; or (ii) if no request is received, the first Business Day in March of the calendar year following the year in which the Participant attains age seventy and one-half (70 1/2) or, if later, the calendar year in which the Participant retires if the Participant attained age seventy and one-half (70 1/2) on or after January 1, 2003. In the case of a Qualified Domestic Relations Order, if so provided in the Qualified Domestic Relations Order, the amount to be withdrawn or distributed shall be
the amount specified in such Order. 

  
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 Payment or delivery of an amount to be withdrawn or distributed shall
be made as soon as practicable after the applicable date determined under the preceding paragraph, but in any event by the April 1 which follows the year in which the Participant attains age seventy and one-half (70 1/2), or if later, the April 1 which follows the year the Participant retires if the Participant attains age seventy and one-half (70 1/2) after January 1, 2003. The payment of benefits under the Plan to a Participant (or to his Beneficiary or Beneficiaries) who has a severance from employment with the Company and all Affiliated
Companies with amounts credited to his Plan accounts of $1,000 or less, or upon the Participant’s death, will begin as soon as administratively practicable after the Participant makes his last contribution. 

Any distributions made pursuant to this Article V shall be subject to the requirements of Code Section 401(a)(9) and the regulations
thereunder, including the minimum distribution incidental benefit requirement of Q&A-1(d) of section 1.401(a)(9)-5 of the final regulations effective January 1, 2003. 

5.02 Designation of Beneficiaries; Spousal Consents. Unless otherwise designated as provided in the next paragraph of this
Section 5.02, each Participant’s Beneficiary shall be the Participant’s spouse. If the Participant dies with no surviving spouse, or so designates a Beneficiary other than his spouse in accordance with the provisions of the next
paragraph, the Beneficiary or Beneficiaries to receive the Plan benefits hereunder shall be as designated by the Participant in accordance with procedures specified by the Plan Administrator and filed with the Plan Administrator during the
Participant’s lifetime. Any such designation may be revoked or changed by the Participant at any time and from time to time, without the consent of any prior Beneficiary (other than the Participant’s spouse, whose consent shall be required
as provided in the next paragraph) in the same manner as the original designation. If either no such designation is made or, if made, none of the designated Beneficiaries, whether primary or contingent, is living at the time of payment, Plan
benefits shall be paid to the Participant’s surviving spouse, if any, and otherwise to the Participant’s estate. 

  
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 The designation of a Beneficiary other than the Participant’s spouse shall be
ineffective unless either: (i) the Participant’s spouse consents in writing to such designation, the spouse’s consent specifically identifies the nonspouse Beneficiary, the Participant’s spouse acknowledges the effect of such
designation, and such consent is witnessed by a notary public; or (ii) it is established to the satisfaction of the Plan Administrator or a representative of the Plan Administrator that no such consent may be obtained because there is no spouse
of the Participant, the spouse cannot be located, or because of such other circumstances as may be prescribed in regulations issued by the Secretary of the United States Treasury. Any consent by a spouse required by any provision of the Plan shall
be irrevocable by the spouse and any such consent by the spouse (or establishment that the consent of the spouse may not be obtained) shall only be effective with respect to such spouse. No Beneficiary designation shall be effective prior to the
time it is received by the Plan Administrator. 
 Notwithstanding the foregoing, for former Participants in the IGS Savings Plan
the terms of Exhibit II shall apply. 
 5.03 Direct Rollovers 

(a) Any Participant, any spouse of a Participant (including a former spouse who is an alternate payee under any Qualified Domestic
Relations Order) or, effective April 1, 2007, any Beneficiary of a Participant (each referred to herein as a “distributee”) who is entitled to receive an “eligible rollover distribution” (as defined below) from the Plan may
make a special election to avoid the imposition of automatic withholding of Federal income taxes from the distribution. The special election is to have all or part of the distribution paid by the Trustee directly to an eligible retirement plan (as
defined below) in lieu of receiving the distribution from the Plan. In order for such direct rollover to be made, the special election must be made in accordance with the procedures established by the Plan Administrator, the eligible retirement plan
must be clearly specified, and the specified plan must be willing to accept the rollover. Any eligible rollover distribution described in Section 5.03(d)(i) that includes After-Tax Contributions which a distributee elects to rollover to a
qualified defined contribution plan described in Section 401(a) or an annuity plan described in Code Section 4.03(b) must be directly rolled over to such plan pursuant to the special election in this Section 5.03(a) and must be
separately accounted for as required by Code Section 402(c)(2)(A). 

  
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 (b) Notwithstanding the foregoing, a direct rollover shall not be permitted if the
distributee’s eligible rollover distributions during the calendar year are reasonably expected to total less than $200, and a partial direct rollover may not be made in an amount which is less than $500. Each eligible rollover distribution may
be directly rolled over to only one eligible retirement plan. 
 (c) The limits set forth in this Section may be modified by the
Plan Administrator to the extent permitted by Code Sections 401(a)(31), 402, and 3405 and regulations or rulings issued thereunder. Moreover, the provisions of this Section shall be interpreted and applied consistently with Sections 521
through 523 of the Unemployment Compensation Amendments of 1992, and shall be deemed to be automatically amended, without the necessity of adopting a specific amendment, to the extent that applicable law, regulations, or rulings modify, amend,
supersede, eliminate, clarify, or otherwise change the requirements of said Sections 521 through 523. 
 (d) An
“eligible rollover distribution” hereunder is any distribution to or withdrawal by a distributee, except that an eligible rollover distribution does not include any portion of a distribution to the extent it is: (i) not included in
gross income (without regard to the exclusion for net unrealized appreciation with respect to employer securities) provided, however, that eligible rollover distributions on or after January 1, 2002, shall include the portion of a distribution
not otherwise included in gross income (i.e., After-Tax Contributions), if any, (ii) required under Code Section 401(a)(9), (iii) a deemed distribution of a defaulted loan which is unaccompanied by an actual distribution,
(iv) any distribution that is one in a series of substantially equal periodic payments (not less frequently than annually) made for one or more lives or for a specified period of ten (10) years or more; (v) any hardship distribution
described in Code Section 401(k)(2)(B)(i)(iv); (vi) any dividends paid on employer securities held by an ESOP which are paid directly to the Participant and not reinvested in the ESOP or (vii) any other amount which is excluded under
the Code or Treasury Regulations. An 

  
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“eligible retirement plan” is an individual retirement account or annuity described in Code Sections 408(a) and 408(b) (collectively, an “IRA”), an annuity plan described
in Code Section 403(a) which accepts rollover distributions, a qualified plan described in Code Section 401(a) which accepts rollover distributions, or an annuity plan described in Code Section 403(b) which accepts rollover
distributions, or a Code Section 457 governmental plan which accepts rollover distributions; provided, however, that with respect to a non-spouse Beneficiary, “eligible retirement plan” shall mean only an inherited IRA within the
meaning of Code Section 408(d)(3)(c) and in accordance with Code Section 402(c)(11) and Code Section 401(a)(9)(B)(ii). 
 5.04 Trustee-to-Trustee Transfer. Upon the direction of the Plan Administrator, the Trustee may transfer all amounts credited to a Participant’s accounts held by the Trustee to another
retirement benefit plan qualified under Code Section 401(a) in connection with or following a Distribution Event with respect to such Participant. 
 5.05 Protected Distribution Forms for Certain Transferred Balances. 

(a) In the case of a Participant who had funds transferred to the Plan from the GSF Energy Inc. Retirement Savings Plan (the “GSF
Plan”) during 1989, a term annuity may be purchased with all or part of that portion of the Participant’s distribution which is attributable to funds transferred in 1986 from the former Getty savings plan to the GSF Plan. The fixed payment
period cannot exceed 240 months and the amount of payments must be greater than $25 per month. 
 (b) In the case of a
Participant employed by Pacific Anchor Chemical Corporation who had funds transferred from the Pacific Anchor Chemical Corporation 401(k) Plan (the “Pacific Anchor Plan”) to the Plan as of July 1, 1989, such a Participant may elect to
receive the amount credited to his account as of the date of such transfer in installment payments over a period not to exceed the life expectancy of the Participant or the joint life expectancy of the Participant and the Participant’s spouse,
if any. 

  
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 (c) In the case of a Participant employed by Industrial Gas and Supply Company
(“IGS”) who had funds transferred from the IGS Savings Plan due to the merger of the IGS Savings Plan into the Plan as of March 31, 2000, such a Participant may elect to receive the amount credited to his account as of the date of
such transfer, in installment payments over a period not to exceed the life expectancy of the Participant or the joint life expectancy of the Participant and the Participant’s spouse, if any. The applicable provisions are set forth in
Exhibit II. 
 ARTICLE VI 
 ADMINISTRATION 
 6.01 Plan Administrator. The Plan
Administrator shall be responsible for the administration of the Plan to the extent provided herein and except to the extent that some other person or entity shall be expressly authorized by the Board. The Plan Administrator shall not receive any
compensation from the Plan for his services as such, but may be reimbursed for reasonable expenses actually incurred in the administration of the Plan. 
 6.02 Expenses of Administration. The reasonable expenses incident to the administration, management, and operation of the Plan, including (but not limited to) the compensation of legal
counsel, auditors, accountants, actuaries, the Trustee, and investment managers, if any, and other costs such as recordkeeping fees, proxy voting fees, communication costs, and the cost of clerical and technical assistance which may be required,
shall be payable from Participant’s accounts in a manner determined by the Plan Administrator and shall be communicated to Participants in a manner that is consistent with ERISA Section 408(b)(2) and the Treasury Regulations issued
thereunder. The Investment Committee may provide that certain Plan expenses shall be charged to a Participant’s account and shall be communicated to Participants in a manner that is consistent with ERISA Section 408(b)(2) and the Treasury
Regulations issues thereunder. Notwithstanding the foregoing, the Employer, in its absolute discretion, may elect at any time to pay part or all thereof directly, and any such election shall not bind the Employer as to its right to elect with
respect to the same or other expenses at any other time to have such expenses paid from the Participant’s accounts. 

  
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 6.03 Powers and Duties of the Plan Administrator. In addition to any implied
powers and duties which may be necessary to carry out the provisions of the Plan and any explicit powers and duties set forth elsewhere in the Plan, the Plan Administrator shall have the following specific discretionary powers and duties:

 (a) To make and enforce such rules and regulations and adopt such procedures as he shall deem necessary or proper for the
efficient administration of the Plan which are not inconsistent with the Code, ERISA, or any grant of authority to another person hereunder, including without limitation rules to be followed by Participants filing notices, elections, directions, and
designations under the Plan and for the furnishing and verification of evidence and proofs necessary to establish the rights of any person to benefits under the Plan; 
 (b) Subject to and consistent with the Code and ERISA, discretionary authority and power to construe and interpret the Plan and to decide any and all matters arising thereunder, including the right to
(i) decide all questions of eligibility for benefits; (ii) determine the amount, time, and manner of payment; (iii) authorize the payment of benefits; (iv) remedy possible ambiguities, inconsistencies, or omissions; provided,
however, that all such interpretations and decisions shall be applied in a uniform manner to all Participants who are similarly situated; and (v) to determine all questions of fact; 

(c) Subject to the provisions of Section 6.05, to make findings of fact and determinations as to the rights of any person applying
for benefits and to afford any such person dissatisfied with any such findings or determinations the right to a hearing thereof; 
 (d) To obtain from the Employer and from the Participants, and provide to the Trustee such information as shall be necessary for proper administration of the Plan; 

  
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 (e) To authorize disbursements from the Participant Investment Funds and to obtain from the
Trustee such information concerning such disbursements as shall be necessary for the proper administration of the Plan; 
 (f)
To supervise generally the administration of the Plan in accordance with ERISA, including, without limitation, compliance with reporting and disclosure requirements and the final review of claims and appeals by Participants and their Beneficiaries;

 (g) To appoint or employ other persons or fiduciaries to carry out various specific responsibilities concerning the
administration of the Plan and any other agents he deems advisable, including without limitation legal counsel, auditors, and accountants, and to enter agreements for the performance of services on behalf of the Plan; and 

(h) To allocate and delegate among or to any one or more person or persons (including corporate persons) named by the Plan Administrator
in accordance with the provisions hereinafter, any of his powers, duties, and fiduciary responsibilities, such allocation or delegation to be effected as follows: 

(i) Fiduciary responsibilities may be allocated or delegated by the Plan Administrator by naming in writing the named
fiduciary to whom the responsibility is allocated or delegated, with a description of the responsibility and an outline of the duties involved; 
 (ii) Such of his other powers, authority, and duties as he deems proper and desirable for the efficient administration of the Plan may be delegated to any officer or other administrative employee of the
Employer. 
 6.04 Powers and Duties of the Investment Committee. In addition to any implied powers and
duties which may be necessary to carry out the provisions of the Plan and any explicit powers and duties set forth elsewhere in the Plan, the Investment Committee shall have the following specific discretionary powers and duties: 

(a) To appoint or employ, and to enter agreements with: 

(i) the Trustee; 

  
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 (ii) an investment manager or managers with power to direct the investment,
reinvestment, and other management of the acquisition and disposition by the Trustee of all or a portion of any of the Participant Investment Funds described in Section 4.02 (other than the Company Stock Fund), if the Investment Committee
determines in its sole discretion that an investment manager or managers is necessary or desirable for management of all or any portion of any such Participant Investment Fund; provided, however, that each such investment manager shall acknowledge
in writing that such investment manager is a fiduciary with respect to the Plan, and: 
  

	 	(A)	shall be registered as an investment advisor under the Investment Advisors Act of 1940; or 

 

	 	(B)	shall be a bank, as defined in the Investment Advisors Act of 1940; or 

  

	 	(C)	shall be an insurance company qualified to perform services with power to manage, acquire, or dispose of assets of the Plan under the laws of more than one State; or

  

	 	(D)	if not registered as an investment advisor under the Act by reason of paragraph (1) of section 203A(a) of the Investment Advisors Act of 1940, shall be
registered as an investment advisor under the law of the State (referred to in such paragraph (1)) in which it maintains its principal office and place of business, and, at the time the investment advisor last filed the registration form most
recently filed by the investment advisor with such State in order to maintain the investment advisor’s registration under the laws of such State, shall also have filed a copy of such form with the Secretary of Labor. 

(iii) an investment advisor who does not meet the qualifications for an investment manager set forth in
Paragraph (ii) above, provided that such investment advisor may offer investment advisory services and recommendations to the Trustee but shall have no power to cause the Trustee to act on such advice. 

  
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 (b) To direct the Trustee to invest and reinvest all or any portion or portions of any of
the Participant Investment Funds described in Section 4.02 held under the Trust Agreement as specified by the Investment Committee, in interests in collective investment funds, group trusts, or other entities or in other investments directed by
the Investment Committee, and to exercise ownership rights with respect to such interests or investments, all as specified by the Investment Committee; 
 (c) To perform any and all duties allocated to it by the Board or required of it by the provisions of this Plan, the Code, or ERISA; 

(d) To allocate and delegate among or to any one or more of its members or officers, any subcommittees of the Investment Committee, and
any other person or persons (including corporate persons) named by it in accordance with the provisions hereinafter, any of its powers, duties, and fiduciary responsibilities (other than trustee responsibilities), such allocation or delegation to be
effected as follows: 
 (i) Fiduciary responsibilities may be allocated or delegated by the Investment Committee
by naming in writing, including by recording in the minutes of the Investment Committee’s meetings the named fiduciary to whom the responsibility is allocated or delegated, with a description of the responsibility and an outline of the duties
involved; 
 (ii) Except where a member of the Investment Committee, the fiduciary so named shall indicate
acceptance of the responsibility by executing the written instrument naming such fiduciary, whereupon such executed instrument shall be incorporated by this reference in the Plan; 

(iii) For the purpose of this Section 6.04(d), a trustee responsibility is a responsibility to manage or control the
assets of the Plan other than the power to appoint an investment manager in accordance with Section 6.04(a)(ii). The power to allocate or delegate responsibility to manage the Participant Investment Funds (other than the Company Stock Fund)
described in Paragraph 4.02 may only be made in accordance with such Section 6.04(a)(ii); and 

  
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 (iv) Such of its other powers, authority, and duties as it deems proper and
desirable may be delegated to any one of its members or officers or to any officer or other administrative employee of the Employer, provided that such delegation shall be noted in the minutes of the proceedings of the Investment Committee or other
writing; 
 (e) To take all actions necessary to transfer Plan assets and liabilities to another qualified plan subject to, and
in accordance with the provisions of applicable laws and Section 7.03, where such transfer is required in connection with any transaction or event or series of events or transactions which may from time to time be approved by the Board or
approved pursuant to a delegation of authority by the Board; 
 (f) To take all actions necessary to amend the Plan to assume
liabilities, and to direct the Trustee to accept assets, of another qualified plan subject to, and in accordance with the provisions of applicable law and Section 7.03, required in connection with any transaction or event or series of similar
transactions or of similar events which may from time to time be approved by the Board or approved pursuant to a delegation of authority from the Board; and 
 (g) To take such further action as the Investment Committee deems appropriate, in regard to establishing and reviewing programs, guidelines, policies, and objectives for investment of Plan assets, and
reviewing investment performance in terms of such programs, guidelines, policies, and objectives. 
 6.05 Benefit Claims
Procedure. The claim and appeal procedure herein provided is intended to meet the requirements of ERISA and the regulations thereunder. By virtue of such requirements, the procedure provided in this Section 6.05 shall be the sole and
exclusive procedure for claiming benefits or appealing any denial of a claim for benefits under the Plan. This procedure shall, in respect of all claims arising under the Plan, supersede and preempt any and all procedures for settlement of disputes
or resolution of grievances under any other agreements or plans. 

  
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 (a) Claim. In the event of a claim by a Participant or a Participant’s
Beneficiary for or in respect of any benefit under the Plan or the method of payment thereof, such Participant or Beneficiary shall present the reason for his claim in writing to the Plan Administrator. The Plan Administrator shall, within ninety
(90) days after the receipt of such written claim, send written notification to the Participant or Beneficiary as to its disposition, unless special circumstances require an extension of time for processing the claim. If such an extension of
time for processing is required, written notice of the extension shall be furnished to the claimant prior to the termination of the initial ninety (90) day period. In no event shall such extension exceed a period of ninety (90) days from
the end of such initial period. The extension notice shall indicate the special circumstances requiring an extension of time and the date by which the Plan Administrator expects to render the final decision. 

(b) Denial. In the event the claim is wholly or partially denied, the Plan Administrator’s written notification shall:
(a) state the specific reason or reasons for the denial, (b) contain specific references to pertinent Plan provisions on which the denial is based, (c) provide a description of any additional material or information necessary for the
Participant or Beneficiary to perfect the claim and an explanation of why such material or information is necessary, and (d) set forth the procedure by which the Participant or Beneficiary may appeal the denial of his claim. If no notice of
denial is provided within the time period set forth above, the claim shall be deemed to be denied and the Participant or Beneficiary may proceed to appeal in accordance with Paragraph (c) below. 

(c) Appeal. In the event a Participant or Beneficiary wishes to appeal the denial of his claim, he may request a review of
such denial by making written application to the Claims Committee within sixty (60) days after receipt of such written claim denial (or the date on which such claim is deemed denied if notice is not received within the applicable time periods
pursuant to Paragraph (b) above). Such Participant 

  
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or Beneficiary (or his duly authorized representative) may, upon written request to the Claims Committee, review any records of the Plan Administrator or other persons to whom fiduciary
responsibilities have been allocated or delegated hereunder which the Claims Committee determines are pertinent to such claim, and submit in writing issues and comments in support of his position. 

The Claims Committee shall notify the Participant or Beneficiary of the Claims Committee’s final decision within 60 days after
receipt of the written appeal unless an extension of time is necessary due to special circumstances. If an extension is required, the Claims Committee shall notify the Participant, Beneficiary or authorized representative of the extension within the
initial review period and shall explain the special circumstances requiring the extension within such initial 60-day period. 

The final decision shall be in writing and shall include specific reasons for the decision, written in a manner calculated to be
understood by the claimant, and specific references to the pertinent Plan provisions on which the decision is based. In addition the notice shall provide that the claimant is entitled to receive, upon request and free of charge, reasonable access
to, and copies of, all documents, records, and other information relevant to the claimant’s claim for benefits, and shall contain a statement of the claimant’s right to bring an action under Section 502(a) of ERISA. If the claim has
not been granted and the notice is not furnished within the period of time specified above, the claim shall be deemed denied. The decision on appeal shall be binding on all parties. 

(d) Qualified Domestic Relations Order. Since separate procedures have been adopted with respect to domestic relations
orders, the service of a domestic relations order on the Plan shall not be treated as a claim for benefits as contemplated by this Section 6.05 and the foregoing procedure shall not be followed in determining whether such an order constitutes a
Qualified Domestic Relations Order. 

  
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 6.06 Fiduciaries. Persons and entities named or referred to in the Plan,
including without limitation, members of the Investment Committee, members of the Claims Committee, and the Plan Administrator may from time to time act in respect of the Plan and/or the Trust Fund in a fiduciary capacity as to the operation and
administration of the Plan and/or the Trust Fund, as well as in a non-fiduciary capacity on behalf of an Employer as a sponsor of the Plan and/or settlor of the Trust Fund. Except as expressly provided in the Plan, no reference in the Plan to any
particular act, duty, or responsibility by any person or entity is intended to ascribe a fiduciary or non-fiduciary role thereto. 
 For purposes of ERISA Section 402(a), “named fiduciaries” for the Plan shall include: the Finance Committee of the Board, insofar as it appoints the persons to serve on the Investment
Committee and has oversight responsibility for review of certain actions taken by the Investment Committee; the Plan Administrator with respect to the control and management of the operation and administration of the Plan and compliance with the
reporting and disclosure requirements of ERISA and the Code; the Investment Committee with respect to control and management of the Trust Fund; and the Claims Committee with respect to adjudication of claim appeals. In addition, the Trustee shall be
the named fiduciary or named fiduciaries with respect to the management, control, custody, and investment of the Trust Fund or specified portions thereof, except to the extent: (a) an investment manager has been appointed to manage and/or
acquire and dispose of investments as contemplated by Paragraph 6.05(h)(2), in which case such investment manager shall be the named fiduciary with respect to the management, acquisition, and disposition of such investments: or (b) the
Trustee has been directed by the Investment Committee to invest or reinvest, and exercise ownership rights with respect to, interests in collective investment funds, trusts, or other entities or other investments as contemplated by
Paragraph 6.05(i), in which case the Investment Committee shall be the named fiduciary with respect to the management, acquisition, and disposition of such interests and investments. 

6.07 Adequacy of Communications; Reliance on Reports and Certificates. All notices, elections, applications,
directions, or other communications given, made, filed, delivered, or transmitted by or for an Employee or Participant in pursuance of the provisions of this Plan shall not be deemed to have been duly given, made, filed, delivered,
transmitted, or received unless the same shall be in writing on such form as is made available by the Plan Administrator or the Trustee for that purpose and until the same shall actually be received at the locations specified on such form.

  
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 Any person acting upon notices, directions, or other communications given, made, delivered,
or transmitted by the Investment Committee may rely on any documents signed by the chairman or secretary of the Investment Committee or by any one or more of its members or Company officers or employees authorized by the Committee to certify its
actions. 
 The Investment Committee, the Claims Committee or any of their members will be entitled to rely conclusively upon
any information, including without limitation, all tables, valuations, certificates, opinions, and reports, which is furnished by the Trustee, any auditor, accountant, legal counsel, or other person who is employed or engaged for the purpose of
assisting such Committees in the performance of their responsibilities hereunder and as to whom the members of the applicable Committee have no reason to doubt the competence, integrity, or responsibility. 

6.08 Indemnification. The Company agrees to indemnify each member of the Investment Committee or the Claims Committee who
is its employee or the employee of an Affiliated Company against any and all claims, loss, damage, expense, and liability from any act or failure to act unless the same is judicially determined to be the result of such member’s gross negligence
or willful misconduct, except as otherwise prohibited by applicable law. 
 6.09 Member’s Own Participation.
No member of the Investment Committee or the Claims Committee may act, vote, or otherwise influence a decision of the Committee relating solely to his own participation under the Plan. 

6.10 Elections. Exhibit III attached hereto, entitled “Plan Elections”, sets forth elections under the Plan made
by the Company or its delegates or officers, including the Vice-President Human Resources, the Plan Administrator or his delegates, or others (but not Participants, spouses, beneficiaries, alternate payees or other

  
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Participants or payees) in regard to elections made under the Plan or applicable law, whether or not specifically referenced in the Plan, and is designed to include only those elections required
by applicable law to be specified in the Plan, but may include other elections as well. 
 ARTICLE VII 

AMENDMENT, CORRECTION AND DISCONTINUANCE 
 7.01 Right to Amend or Terminate. 
 (a) The Company intends and
expects to continue the Plan indefinitely. Nevertheless, (i) the Company reserves the right to terminate the Plan or amend or modify it from time to time and (ii) each Employer reserves the right to suspend, terminate, or completely
discontinue contributions under the Plan with respect to itself and its Employees and their Beneficiaries. Action to terminate the Plan may be taken only by the Board, by its resolutions, duly adopted. The Investment Committee may act on behalf of
the Company and without action by or approval of the Board, to add or discontinue Participant Investment Funds. Any other action referred to in this subsection and not determined by the Company’s general counsel to be in contravention of law
may be taken on behalf of the Company by the Chairman of the Board evidenced by a resolution, certificate, new or revised Plan text, or other writing; provided that, only the Board may approve a Plan amendment which (A) would materially
increase aggregate accrued benefits under, materially change the benefit formula provided by, or materially increase the cost of the Plan, so long as persons designated by the Board as “Executive Officers” for purposes of the U.S.
Securities laws are Participants in the Plan; or (B) would freeze benefit accruals, materially reduce benefit accruals, or otherwise materially change the benefits under the Plan; or (C) would constitute the exercise of power or function
herein assigned to the Finance Committee of the Board, the Investment Committee, the Plan Administrator, or the Claims Committee. The Chairman may delegate the authority described in the preceding sentence in writing. 

  
 80 

 (b) Notwithstanding Paragraph (a), no action to terminate, amend, or modify the Plan
described therein shall adversely affect Participants who shall have retired under the Plan prior to such action, nor shall any amendment have the effect of decreasing the nonforfeitable percentage or the amount of a Participant’s accounts
except as permitted by Code Section 411(d)(6) and the regulations thereunder. No amendment shall be made to this Plan which eliminates a subsidy or an optional form of benefit available to a Participant except as permitted by Code
Section 411(d)(6) and the regulations thereunder. 
 (c) Notwithstanding any of the foregoing provisions of this Section,
any modification or amendment of the Plan may be made retroactively, if necessary or appropriate to qualify or maintain the Plan and/or the Trust Fund as a plan and/or trust meeting the requirements of the Code and ERISA, or any other provision of
law, as now in effect or hereafter amended or adopted, and any regulation issued thereunder. If the Plan is terminated by the Company, all amounts credited to each of such Participant’s accounts in respect of Before-Tax Contributions, After-Tax
Contributions, Catch-up Contributions, Company Core Contributions, and Company Matching Contributions shall be distributed by the Trustee to any such Participant so affected by such discontinuance or to his or her designated Beneficiary as soon as
practicable (to the extent permitted under applicable law), with distributions to be made in accordance with the directions of the Plan Administrator. 
 (d) Upon the Plan’s termination or partial termination, the rights of all affected Participants to benefits accrued to the date of such termination or partial termination, to the extent not yet
vested, shall be nonforfeitable. 
 7.02 Corpus and Income Not to be Diverted. Notwithstanding any power of
discontinuance or amendment reserved in the Plan or Trust Agreement, it shall be impossible at any time for any part of the corpus and income of the Trust Fund held for the benefit of Participants and their Beneficiaries to be used for, or diverted
to, purposes other than for the exclusive benefit of such Participants or their Beneficiaries and defraying reasonable expenses of administering the Plan. Notwithstanding the foregoing: 

  
 81 

 (a) All contributions made to the Plan are conditioned upon their deductibility in full
under Code Section 404, or any statute of similar import. If all or any portion of a contribution is determined to be not deductible, the amount so determined to be non-deductible shall be returned to the Employer, if the Employer so directs
the Trustee, within one (1) year of the determination of the disallowance of the deduction. 
 (b) A contribution made by a
mistake of fact shall be returned to the Employer within one (1) year after the payment of the contribution, if the Employer so directs the Trustee. 
 7.03 Merger or Consolidation of Plan. 
 (a) The Plan shall not be
terminated automatically by the Company’s acquisition by or merger into any other company, but the Plan shall be continued after such merger if the successor company agrees to continue the Plan. All rights to amend, modify, suspend, or
terminate the Plan shall be transferred to the successor company, effective as of the date of the merger, without the need for a specific Plan amendment. 
 (b) The Plan shall not merge or consolidate with, or transfer its assets or liabilities to, any other plan unless each Participant would (if the Plan then terminated) be entitled to receive a benefit
after the merger, consolidation, or transfer which is equal to or greater than the benefit he would have been entitled to receive immediately before the merger, consolidation, or transfer (if the Plan had been terminated). 

7.04 Correction. Any operational or qualification defect or failure of this Plan of any kind whatsoever may be corrected
pursuant to any program of voluntary correction sponsored by the Internal Revenue Service or the Department of Labor, or any other agency of the Federal government or pursuant to applicable law, regulations or rulings, to the extent determined by,
and at the sole discretion of, the Chairman of the Board. 

  
 82 

 ARTICLE VIII 
 GENERAL PROVISIONS 
 8.01 Nonalienation of Benefits. Except
as may be otherwise required by law, no benefit payable under the Plan or any interest of any Participant arising out of or created by this Plan, either before or after retirement, shall be subject, either voluntarily or involuntarily, to
anticipation, assignment, pledge, execution, attachment, garnishment, or alienation. Any attempt to assign or alienate a benefit payable under the Plan shall be void. Also, except as may otherwise be required by law, no such benefit or interest will
in any manner be liable for or subject to the debts, liabilities, contract, engagements, or torts of any Participant. This Section 8.01 also shall apply to the creation, assignment, or recognition of a right to any benefit payable with respect
to a Participant pursuant to a domestic relations order, unless such order is determined by the Plan Administrator to be a Qualified Domestic Relations Order. In the case of a Qualified Domestic Relations Order, distributions shall be made in
accordance with and shall be governed by procedures adopted by the Plan Administrator. Notwithstanding any other provisions of the Plan, to the extent permitted under the provisions of Code Sections 401(a)(13)(C) and (D), or under other
applicable law, a Participant or Beneficiary may have his benefits reduced in the event of his willful breach of fiduciary duty to the Plan or his criminal act against the Plan. 

8.02 Payments to Minors, Incompetents, and Related Situations. If a Participant or Beneficiary entitled to receive any
benefits hereunder is a minor, is adjudged to be legally incapable of giving valid receipt and discharge for such benefits, or is unable to care for his affairs because of illness, accident, mental disability, or similar circumstances, such benefits
shall be paid to such person as the Plan Administrator shall designate or to the duly appointed guardian. Such payment shall be deemed a complete discharge of any liability for such benefits under the Plan. 

  
 83 

 8.03 Unclaimed Accounts - Trust Funds. No interest shall accrue to or for the
account of Participants or their Beneficiaries during any period that any distribution hereunder shall remain unclaimed. If any distribution made by the Trustee from any of the Participant Investment Funds remains unclaimed for a period of six
(6) months, the Trustee shall notify the Plan Administrator, who will promptly attempt to locate the person entitled to receive such distribution. 
 8.04 No Guarantee of Employment. The Plan shall not be deemed to be in consideration of, or an inducement for, the employment of any person by the Company or any Affiliated Company. Nothing
contained in the Plan shall be deemed to give any employee the right to be retained in the service of the Company or any Affiliated Company or to interfere with the right of the Company or any Affiliated Company to discharge or to terminate the
service of any employee at any time without regard to the effect such discharge or termination may have on any rights under the Plan. 
 8.05 Governing Law. The Plan, the Trust Agreement, and all amendments thereto shall be construed, whenever possible, to be in conformity with the requirements of the Code and ERISA, and
according to the laws of the Commonwealth of Pennsylvania (including its statute of limitations provisions, but excluding its choice of law provisions) to the extent not preempted by applicable federal law. 

8.06 Gender, Number, and Headings. 
 (a) As used herein, the pronouns “he”, “him”, or “his”, referring to an Employee, Participant, Beneficiary, or any other person, shall also be deemed to refer to and include
the feminine gender. 
 (b) Whenever any words are used herein in the singular or plural, they shall be construed as if they
were also used in the plural or singular, respectively, in all cases where applicable. 
 (c) Headings of Articles and Sections
of the Plan are inserted for convenience of reference only and as such they constitute no part of the Plan and are not to be considered in the meaning or construction thereof. 

  
 84 

 (d) Any reference to the Code or ERISA or a section thereunder or a regulation thereunder
shall also refer to any successor statute, successor section, or successor regulation. 
 8.07 Severability. Each
provision of the Plan shall be independent of each other provision of the Plan and if any provision of the Plan proves to be, or is held by any court, tribunal, board, or authority of competent jurisdiction to be, void or invalid as to any
Participant or group of Participants, such provision shall be disregarded and deemed to be null and void and not part of the Plan; but such invalidation of any such provision shall not otherwise impair or affect this Plan or any of the other
provisions or terms hereof. 
 8.08 Obligations of the Employer. No Employer shall have any liability with respect
to payments of benefits under the Plan and each Participant and Beneficiary shall look solely to the Trust Fund for any payments or benefits under the Plan. Upon total or partial termination of the Plan, no Employer shall have any further liability
either to provide benefits to those employees affected by such total or partial termination (whether or not such benefits are then in pay status) or to make any further contributions to or under the Plan in respect of such employees. 

8.09 Effective Date. The amended and restated Plan as herein set forth is effective as of October 1, 2013, except for
provisions which indicate a later effective date. 
 8.10 Uniformed Services Employment and Reemployment Rights
Act. Notwithstanding any provision of this Plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with Code Section 414(u). 

8.11 Use of Electronic Media; Adjustment of Certain Time Periods. Notwithstanding any provision herein which requires
notices, consents, elections, or other actions under the Plan to be effectuated through a writing, such notices, consents, elections, or other actions may be effectuated through the use of electronic media, if so

  
 85 

 
provided in procedures established by the Plan Administrator consistent with Department of Labor or Internal Revenue Service pronouncements or other applicable law. Moreover, any time periods set
forth herein for providing notices, making elections, granting consents, or taking other actions which are based upon time limits established under applicable law shall be deemed to be automatically amended, without the necessity of a formal
amendment, to reflect any subsequent modification of those deadlines through Department of Labor or Internal Revenue Service pronouncements or other changes in applicable law. 
 IN WITNESS WHEREOF, this Air Products and Chemicals, Inc. Retirement Savings Plan, as amended and restated effective October 1, 2013, has been duly executed on behalf of Air Products and
Chemicals, Inc. on this             day of December 2013. 
  

			
	AIR PRODUCTS AND CHEMICALS, INC.
		
	 By:
	 	  

		 	Senior Vice President, General Counsel and
		 	Chief Administrative Officer

 ATTEST: 
  

	
	  
	    Assistant Secretary

  
 86 

 APPENDIX A 
 PARTICIPANT INVESTMENT FUNDS 
 Effective as of October 1, 2013

 Tier 1 – Life Cycle Investment Options 
  

	 	 ̈	SSgA Target Retirement Income Securities Lending Series Fund Class II

 

	 	 ̈	SSgA Target Retirement 2010 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2015 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2020 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2025 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2030 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2035 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2040 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2045 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2050 Securities Lending Series Fund Class II 

 

	 	 ̈	SSgA Target Retirement 2055 Securities Lending Series Fund Class II 

 Tier 2 – Core Investment Options- Passively Managed 
  

	 ̈	Spartan® 500 Index Fund (Ticker Symbol: FXAIX) 

  

	 ̈	Spartan® Extended Market Index Fund (Ticker Symbol: FSEVX) 

  

	 ̈	Vanguard Total Bond Market Index Fund (Ticker Symbol: VBTSX) 

  

	 ̈	Vanguard Total International Stock Index Fund (Ticker Symbol: VTSGX) 

 Tier 3- Core Investment Options- Actively Managed 
  

	 ̈	Dodge & Cox Balanced Fund (Ticker Symbol: DODBX) 

  

	 ̈	Fidelity® International Discovery Fund- Class K (Ticker Symbol: FIDKX) 

 

	 ̈	JPMCB Large Cap Growth Fund 

  

	 ̈	Principal MidCap Blend Fund Institutional Class (Ticker Symbol: PCBIX) 

  

	 ̈	Pyramis Small Capitalization Core Commingled Pool 

  

	 ̈	Stable Value Fund 

  

	 ̈	Vanguard Windsor II Fund – Admiral Shares (Ticker Symbol: VWNAX) 

  

	 ̈	Western Asset Core Plus Bond – Institutional Class (Ticker Symbol: WACPX) 

  
 A-1

 Tier 4 – Other Investment Options 

 

	 ̈	Air Products Company Stock Fund 

  

	 ̈	Fidelity BrokerageLink® 

  

	 ̈	Fidelity Money Market Trust Retirement Government Money Market Portfolio 

 The Qualified Default Investment Alternative is the Tier 1 – Life Cycle Investment Option. Contributions will be invested in a particular fund within that Tier based on the Participant’s age in
accordance with procedures determined by the Plan Administrator. 

  
 A-2

 EXHIBIT I 
 ELIGIBLE NONUNION HOURLY LOCATIONS DESIGNATED 
 BY VICE PRESIDENT - HUMAN
RESOURCES 
 EFFECTIVE AS OF October 1, 2013: 

 

			
	 	  	Designated Terminal
For 125% 
of Base Salary
	 ADAMS, NE
	  	YES
	 ASHLAND, KY
	  	YES
	 BEATRICE, NE
	  	YES
	 BETHLEHEM, PA
	  	YES
	 BOUNTIFUL, UT
	  	YES
	 BOZRAH, CT
	  	YES
	 BROOKHAVEN, MS
	  	YES
	 BURNS HARBOR, IN
	  	NO
	 BUTLER, IN
	  	YES
	 BUTLER, PA
	  	YES
	 CAMDEN, SC
	  	YES
	 CARTERSVILLE, GA
	  	YES
	 CHANDLER, AZ
	  	YES
	 CLAREMONT, MN
	  	YES
	 CONVENT, LA
	  	NO
	 CONVENT, LA (Drivers)
	  	YES
	 CONYERS, GA
	  	YES
	 CREIGHTON, PA
	  	YES
	 DECATUR, AL
	  	YES
	 DEER PARK, TX
	  	NO
	 EAGAN, MN
	  	YES
	 GLENMONT, NY
	  	YES
	 GRAY, TN
	  	YES
	 LANCASTER, PA
	  	YES
	 LANCASTER, PA (Express Services)
	  	NO
	 LAPORTE, TX
	  	YES
	 LASALLE, IL
	  	YES
	 LIBERAL, KS
	  	YES
	 LONG BEACH, CA
	  	YES
	 MALTA BEND, MO
	  	YES
	 MANALAPAN, NJ
	  	NO
	 MARION, IN
	  	YES
	 MCINTOSH, AL
	  	YES
	 MEDINA, NY
	  	YES
	 MEMPHIS, TN
	  	YES
	 MIDLOTHIAN, TX
	  	YES
	 MILTON (CO2), WI
	  	YES
	 MONROE, WI
	  	YES

  
 I-1

					
	 MOORELAND, OK
	  	 	YES	  
	 NEVADA, IA
	  	 	YES	  
	 NEW MARTINSVILLE, WV
	  	 	YES	  
	 NIAGARA FALLS, NY
	  	 	YES	  
	 OAK CREEK, WI
	  	 	YES	  
	 ORLANDO, FL
	  	 	YES	  
	 PACE, FL
	  	 	YES	  
	 PARKERSBURG, WV
	  	 	YES	  
	 PRYOR, OK
	  	 	YES	  
	 PUYALLUP, WA
	  	 	YES	  
	 REIDSVILLE, NC
	  	 	YES	  
	 SHAKOPEE, MN
	  	 	YES	  
	 SMITHVILLE, MO
	  	 	YES	  
	 SPARROWS POINT, MD (Drivers)
	  	 	YES	  
	 SUFFIELD, CT
	  	 	YES	  
	 UNION CITY, IN
	  	 	YES	  
	 YORK, NE
	  	 	YES	  

  
 I-2

 EXHIBIT II 
 FORMS OF DISTRIBUTION AVAILABLE TO PARTICIPANTS WHO HAD AMOUNTS 

TRANSFERRED TO THE PLAN FROM THE IGS SAVINGS PLAN 
 (i) Forms of Payments to Participants. Participants who were previously participants in the IGS Savings Plan shall continue to have available under the Plan the forms of payment which were
available under the IGS Savings Plan, in addition to the forms of benefit provided for in Article V of the Plan; provided, however, that distribution shall automatically be made in the form of a lump sum if the value of the aggregate amounts
credited to the Participant’s Plan accounts does not exceed the amount set forth in Paragraph 3.10(c) of the Plan. Such forms of payment shall be available with respect to the balance of the Participant’s account which was transferred from
the IGS Savings Plan to the Plan in connection with the merger of the IGS Savings Plan effective March 31, 2000.  

Any distributions made pursuant to this Exhibit II or under Article V must satisfy the requirements of Code Section 401(a)(9) and
the regulations thereunder, including the minimum distribution incidental benefit requirement. The former IGS Savings Plan Participant shall have the ability to recalculate annually the life expectancy of the Participant and the Participant’s
Spouse. Any recalculation of life expectancy shall be done in accordance with Code Section 401(a)(9) and the regulations thereunder. 
 (1) Normal Form of Payment. Unless the Participant elects otherwise the aggregate amount credited to the Participant’s Plan accounts shall be made in a lump sum. The normal form of payment
shall be automatic, unless the Participant files a written request with the Administrator prior to the date on which the aggregate amounts credited to the Participant’s Plan accounts are automatically payable, electing an optional form of
payment. 

  
 II-1

 (2) Optional Forms of Payment. 

(a) The Participant shall have the right to receive the aggregate amounts credited to his or her Participant Plan accounts in monthly,
quarterly, semi-annual or annual payments from the Plan over any period not extending beyond the life expectancy of the Participant and his or her Beneficiary. 
 (b) A direct rollover will be available to the Participant and/or the Spouse under the terms of Section 5.03. 
 (ii) Forms of Death Benefit Distributions. 
 (1) Spousal Death
Benefit. On the death of a Participant, the aggregate amounts credited to the Participant’s Plan accounts will be paid to the Participant’s Surviving Spouse, or if the Surviving Spouse has consented in a manner conforming to a
Qualified Election, then to the Participant’s Designated Beneficiary. 
 The Surviving Spouse may elect to have
distribution of the aggregate amounts credited to the Participant’s Plan Accounts commence within the 90-day period following the date of the Participant’s death. The aggregate amount credited to the Participant’s Plan Accounts shall
be adjusted for gains or losses occurring after the Participant’s death in accordance with the provisions of the Plan governing the adjustment of account balances for other types of distributions. 

The Participant may waive the spousal death benefit described in this Section B(1) of this Exhibit II at any time provided that no such
waiver shall be effective unless it is a Qualified Election. 
 (2) Qualified Election. Any election to waive the spousal
death benefit of Section B(2) of this Exhibit II shall not be effective unless: 
 (a) the Participant’s Spouse consents
in writing to the election; 
 (b) the election designates a specific beneficiary, including any class of beneficiaries or any
contingent beneficiaries, which may not be changed without spousal consent (or the Spouse expressly permits designations by the Participant without any further spousal consent); 

  
 II-2

 (c) the Spouse’s consent acknowledges the effect of the election.

 If it is established to the satisfaction of the Administrator that there is no Spouse or that the Spouse cannot be located, a
waiver will be deemed a Qualified Election. Any consent by a Spouse obtained under this provision (or establishment that the consent of a Spouse may not be obtained) shall be effective only with respect to such Spouse. A consent that permits
designations by the Participant without any requirement of further consent by such Spouse has the right to limit consent to a specific beneficiary, and a specific form of benefit where applicable, and that the Spouse voluntarily elects to relinquish
either or both of such rights. A revocation of a prior waiver may be made by a Participant without the consent of the Spouse at any time before the commencement of benefits. The number of revocations shall not be limited. 

(iii) Other Distribution Provisions. 
 (1) Participant Dies After Distribution Has Begun. In the event a Participant dies after the distribution of the aggregate amounts credited to the Participant’s Plan accounts pursuant to Code
Section 401(a)(9) has begun, the distribution of the such aggregate amounts will continue to be distributed at least as rapidly as under the method of distribution being used prior to the Participant’s death. 

(2) Participant Dies Before Distribution Has Begun. In the event a Participant dies before the distribution of the aggregate
amounts credited to the Participant’s Plan accounts pursuant to Code Section 401(a)(9) has begun, the distribution of the such aggregate amounts will be completed by December 31 of the calendar year containing the fifth anniversary of
the Participant’s death except to the extent that an election is made to receive distributions in accordance with (a) or (b) below. 

  
 II-3

 (a) If any portion of the aggregate amounts credited to the Participant’s Plan
accounts is payable to a Designated Beneficiary, distributions may be made over the life or over a period certain not greater than the life expectancy of the Designated Beneficiary commencing on or before December 31 of the calendar year
immediately following the calendar year in which the Participant died; 
 (b) If the Designated
Beneficiary is the Participant’s Surviving Spouse, the date distributions are required to begin in accordance with (a) above shall not be earlier than the later of (1) December 31 of the calendar year immediately following the
calendar year in which the Participant died or (2) December 31 of the calendar year in which the Participant would have attained age 70 1/2. 
 If the Participant has not made an election pursuant to this Section C(2) of this Exhibit II by the time of his or her death, the Participant’s Designated Beneficiary must elect the method of
distributions no later than the earlier of: (1) December 31 of the calendar year in which distributions would be required to begin under this section, or (2) December 31 of the calendar year which contains the fifth anniversary
of the date of death of the Participant. If the Participant has no Designated Beneficiary, or if the Designated Beneficiary does not elect a method of distribution, then distributions of the aggregate amounts credited to the Participant’s Plan
accounts must be completed by December 31 of the calendar year containing the fifth anniversary of the Participant’s death. 
 For purposes of this Section C(2) of this Exhibit II, if the Surviving Spouse dies after the Participant, but before the payments to such Spouse begin, the provisions of this Section C(2) of this Exhibit
II with the exception of paragraph (b) therein, shall be applied as if the Surviving Spouse were the Participant. For the purposes of Sections C(1) and C(2) of this Exhibit II, distribution of the aggregate amounts credited to the
Participant’s Plan accounts is considered to begin on the last Business Day of March of the calendar year, which follows the calendar year in which the Participant would have attained age 70 1/2 (or, if the preceding sentence is applicable, the date distribution is required to begin to the Surviving Spouse). 

  
 II-4

 (3) Payment to Minor. For purposes of this Exhibit II, if an amount is payable to
either a minor or an individual who has been declared incompetent, the benefits shall be paid to the legally appointed guardian for the benefit of said minor or incompetent individual, unless the court which appointed the guardian has ordered
otherwise. 
 (4) Definitions. For purposes of this Exhibit II, the following definitions shall apply: 

(a) Designated Beneficiary - The individual who is designated as the beneficiary under the Plan in accordance with Code
Section 401(a)(9) and the regulations thereunder. 
 (b) Spouse or Surviving Spouse - The Spouse or Surviving Spouse of
the Participant, provided that a former Spouse will be treated as the Spouse or Surviving Spouse and a current Spouse will not be treated as the Spouse or Surviving Spouse to the extent provided under a Qualified Domestic Relations Order as
described in Code Section 414(p). 

  
 II-5

 EXHIBIT III 
 PLAN ELECTIONS 
 The following elections have been made in accordance with
various sections of the Plan and are applicable only with respect to the Plan Years specifically indicated below, except as otherwise required by applicable law: 
  

					
	 Year Election Applies
	  	 Applicable Plan Section
	  	 Election

	1997	  	3.07(b)(i),(ii), and (iii) (pages 30-33)	  	Current year data used to perform ADP, ACP, and multiple use testing.

 This Exhibit III may be revised from time to time by the Vice President - Human Resources without amendment to the Plan,
provided his/her signature appears below along with the Signature Date. 

  
 III-1

 SCHEDULE I 
 PARTICIPATING EMPLOYERS 
 AS OF 1 OCTOBER 2013 

 

					
	 Name of Affiliated Company
	  	Participating Employer
Since
Date	  	Revocation
Date
	 Air Products Energy Enterprising, Inc.
	  	Continuing	  	N/A
	 Air Products Helium, Inc.
	  	Continuing	  	N/A
	 Air Products Manufacturing Co., Inc.
	  	Continuing	  	N/A
	 Air Products LLC
	  	1 June 2007	  	N/A
	 Air Products Performance Manufacturing, Inc. (formerly known as “Tomah Products, Inc.” and “Tomah Reserve,
Inc.”)
	  	1 April 2006	  	N/A

  
 S-1Ex-10.19

 Exhibit 10.19 

***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 240.24b-2 
 Execution Copy 

RESEARCH COLLABORATION AND LICENSE AGREEMENT 

BETWEEN 
 DICERNA PHARMACEUTICALS,
INC. 
 AND 
 KYOWA HAKKO KIRIN
CO., LTD. 
 December 21, 2009 

 ***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 240.24b-2 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	ARTICLE 1	 	 DEFINITIONS
	  	 	2	  
			
	ARTICLE 2	 	 COLLABORATION OVERVIEW AND GOVERNANCE
	  	 	16	  
			
	 2.1
	 	 The Research Collaboration
	  	 	16	  
			
	 2.2
	 	 Research Collaboration Goals
	  	 	16	  
			
	 2.3
	 	 Governance – Joint Steering Committee
	  	 	16	  
			
	 2.4
	 	 Governance – Joint Research Committee
	  	 	18	  
			
	 2.5
	 	 Expiration of Research Collaboration Term
	  	 	19	  
			
	 2.6
	 	 Alliance Managers
	  	 	19	  
			
	 2.7
	 	 Appointment Not an Obligation
	  	 	20	  
			
	ARTICLE 3	 	 THE RESEARCH COLLABORATION
	  	 	20	  
			
	 3.1
	 	 Overview of Research Collaboration
	  	 	20	  
			
	 3.2
	 	 [***] DDS Technology
	  	 	20	  
			
	 3.3
	 	 Research Collaboration Term
	  	 	20	  
			
	 3.4
	 	 Research Collaboration Plans
	  	 	21	  
			
	 3.5
	 	 Funding; Costs of Manufacture
	  	 	21	  
			
	 3.6
	 	 Conduct of Research Collaboration
	  	 	22	  
			
	 3.7
	 	 [***] Technology Transfer
	  	 	24	  
			
	 3.8
	 	 Independent DDS Technology
	  	 	24	  
			
	 3.9
	 	 Research Collaboration Exclusivity
	  	 	25	  
			
	ARTICLE 4	 	 SELECTION OF PROGRAM TARGETS; OPTION RIGHTS
	  	 	25	  
			
	 4.1
	 	 Selection of Program Targets
	  	 	25	  
			
	 4.2
	 	 Designation of Research Compounds
	  	 	26	  
			
	 4.3
	 	 Supply of Proprietary Materials
	  	 	27	  
			
	ARTICLE 5	 	 DEVELOPMENT, COMMERCIALIZATION, MANUFACTURING AND SUPPLY
	  	 	27	  
			
	 5.1
	 	 KHK Development Responsibility
	  	 	27	  
			
	 5.2
	 	 Registrations
	  	 	27	  
			
	 5.3
	 	 Development and Commercialization Plans
	  	 	28	  
			
	 5.4
	 	 Manufacturing
	  	 	28	  
			
	 5.5
	 	 Development and Commercialization Diligence
	  	 	28	  
			
	 5.6
	 	 Compliance
	  	 	28	  
			
	 5.7
	 	 Reports; Information; Updates
	  	 	28	  
			
	 5.8
	 	 Adverse Event Reporting
	  	 	29	  
			
	 5.9
	 	 Co-Promotion Option
	  	 	29	  

  
 i 

 ***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 240.24b-2 
  

							
	ARTICLE 6	 	 GRANT OF LICENSE RIGHTS
	  	 	30	  
			
	 6.1
	 	 License to KHK
	  	 	30	  
			
	 6.2
	 	 Right to Sublicense
	  	 	31	  
			
	 6.3
	 	 License to DICERNA
	  	 	31	  
			
	 6.4
	 	 License Exclusivity
	  	 	32	  
			
	ARTICLE 7	 	 FINANCIAL PROVISIONS
	  	 	32	  
			
	 7.1
	 	 Upfront Payments
	  	 	32	  
			
	 7.2
	 	 Option Exercise Fees
	  	 	32	  
			
	 7.3
	 	 Lead Transfer Milestone
	  	 	33	  
			
	 7.4
	 	 R&D Milestone Payments
	  	 	33	  
			
	 7.5
	 	 Commercial Milestone Payments
	  	 	34	  
			
	 7.6
	 	 Royalty Payments
	  	 	34	  
			
	 7.7
	 	 Royalty Offsets
	  	 	35	  
			
	 7.8
	 	 Accounting Reports; Payment of Royalty
	  	 	37	  
			
	 7.9
	 	 Audit Rights
	  	 	37	  
			
	 7.10
	 	 Payments
	  	 	38	  
			
	 7.11
	 	 Income Tax Withholding
	  	 	38	  
			
	 7.12
	 	 Foreign Currency Exchange
	  	 	38	  
			
	ARTICLE 8	 	 CONFIDENTIALITY
	  	 	39	  
			
	 8.1
	 	 Nondisclosure and Nonuse Obligations
	  	 	39	  
			
	 8.2
	 	 Permitted Disclosure of Confidential Information
	  	 	39	  
			
	ARTICLE 9	 	 DISCLAIMERS, REPRESENTATIONS, WARRANTIES AND INDEMNIFICATIONS
	  	 	40	  
			
	 9.1
	 	 KHK Representations and Warranties
	  	 	40	  
			
	 9.2
	 	 DICERNA Representations and Warranties
	  	 	42	  
			
	 9.3
	 	 Disclaimer
	  	 	44	  
			
	 9.4
	 	 Responsibility and Control
	  	 	44	  
			
	 9.5
	 	 KHK’s Right to Indemnification
	  	 	44	  
			
	 9.6
	 	 DICERNA’s Right to Indemnification
	  	 	45	  
			
	 9.7
	 	 Indemnification Procedures
	  	 	45	  
			
	 9.8
	 	 Insurance
	  	 	46	  
			
	ARTICLE 10	 	 INTELLECTUAL PROPERTY
	  	 	46	  
			
	 10.1
	 	 Disclosures and Reports
	  	 	46	  
			
	 10.2
	 	 DICERNA Program Technology
	  	 	47	  
			
	 10.3
	 	 KHK Program Technology
	  	 	47	  
			
	 10.4
	 	 Joint Technology and Joint Patent Rights
	  	 	47	  

  
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	 10.5
	 	 Patent Filing and Prosecution
	  	 	47	  
			
	 10.6
	 	 Infringement Claims Against Third Parties
	  	 	50	  
			
	 10.7
	 	 Defense of Infringement Claims
	  	 	51	  
			
	ARTICLE 11	 	 TERM AND TERMINATION
	  	 	53	  
			
	 11.1
	 	 Term of Research Collaboration
	  	 	53	  
			
	 11.2
	 	 Term of Agreement
	  	 	53	  
			
	 11.3
	 	 Termination During the Research Collaboration Term
	  	 	53	  
			
	 11.4
	 	 Termination for Breach
	  	 	53	  
			
	 11.5
	 	 Termination Upon Insolvency
	  	 	54	  
			
	 11.6
	 	 KHK Termination Without Penalty
	  	 	54	  
			
	 11.7
	 	 DICERNA Termination
	  	 	54	  
			
	 11.8
	 	 Effect of Termination Due to KHK Uncured Breach or KHK Termination Without Cause
	  	 	54	  
			
	 11.9
	 	 Effect of Termination Due to DICERNA Uncured Breach
	  	 	55	  
			
	 11.10
	 	 Surviving Provisions
	  	 	56	  
			
	 11.11
	 	 Limitation of Liability
	  	 	56	  
			
	ARTICLE 12	 	 PUBLICITY
	  	 	56	  
			
	 12.1
	 	 Disclosure of Agreement
	  	 	56	  
			
	 12.2
	 	 Use of Names, Logos or Symbols
	  	 	57	  
			
	 12.3
	 	 Publication
	  	 	57	  
			
	ARTICLE 13	 	 MISCELLANEOUS
	  	 	58	  
			
	 13.1
	 	 Force Majeure
	  	 	58	  
			
	 13.2
	 	 Assignment
	  	 	58	  
			
	 13.3
	 	 Severability
	  	 	58	  
			
	 13.4
	 	 Notices
	  	 	58	  
			
	 13.5
	 	 Dispute Resolution
	  	 	59	  
			
	 13.6
	 	 Choice of Law
	  	 	60	  
			
	 13.7
	 	 Entire Agreement
	  	 	60	  
			
	 13.8
	 	 Headings
	  	 	61	  
			
	 13.9
	 	 Independent Contractors
	  	 	61	  
			
	 13.10
	 	 Further Actions
	  	 	61	  
			
	 13.11
	 	 Special Covenant: City of Hope
	  	 	61	  
			
	 13.12
	 	 Waiver
	  	 	61	  
			
	 13.13
	 	 Jointly Prepared
	  	 	61	  
			
	 13.14
	 	 Purposes and Scope
	  	 	61	  
			
	 13.15
	 	 Counterparts
	  	 	62	  

  
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 RESEARCH COLLABORATION AND LICENSE AGREEMENT 

THIS RESEARCH COLLABORATION AND LICENSE AGREEMENT (this “Agreement”) is entered into as of December 21,
2009 ( the “Effective Date”), by and between DICERNA PHARMACEUTICALS, INC., a corporation organized and existing under the laws of Delaware (“DICERNA”), and KYOWA HAKKO KIRIN CO. LTD., a
corporation organized and existing under the laws of Japan (“KHK”). 
 RECITALS 

A. DICERNA has proprietary intellectual property, technology, and know-how useful for the discovery, research, development and
commercialization of RNA interference (“RNAi”) therapeutic molecules, including its proprietary Dicer Substrate Technology and Dicer Substrate siRNA and drug delivery systems. 

B. KHK has proprietary intellectual property, technology, and know-how useful for the research, development and commercialization of
therapeutic molecules, including its proprietary [***] (as hereinafter defined) drug delivery technology, and expertise for the conduct of pharmacological in vivo studies for various pharmaceutical products. 

C. KHK and DICERNA wish to establish a collaborative relationship to identify, research, develop and optimize Dicer Substrate siRNA-based
compounds for a specified number of agreed targets and to evaluate the most applicable drug delivery system for use with the initial target, KRAS (as hereinafter defined), in the field of human cancer treatment, for the intended purpose of
proceeding to the development of compounds for the initial target and other agreed targets. 
 D. KHK and DICERNA wish to provide for the
grant to KHK of an option, in the event the results of the research collaboration for the initial target, KRAS, meet agreed criteria, under which KHK may then decide whether to elect to proceed with the further development of KRAS, as well as
research compounds, aimed at such initial target, KRAS and/or to elect to proceed with the development of other research compounds aimed at other agreed targets, in accordance with the terms and conditions set forth herein. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, the Parties agree as follows: 

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 ARTICLE 1 

DEFINITIONS 
 Capitalized terms used in
this Agreement, whether in the singular or plural, have the meanings set forth below, or as otherwise specifically defined in this Agreement. 

1.1 “Acceptance” means, with respect to a Drug Approval Application filed for a Licensed Product, (a) in the
United States, the receipt of written notice from the FDA in accordance with 21 CFR 314.101(a)(2) that such Drug Approval Application is officially “filed”; (b) in the European Union, receipt of written notice of acceptance by the
EMEA of such Drug Approval Application for filing under the centralized European procedure in accordance with any feedback received from European Regulatory Authorities; provided, that, if the centralized filing procedure is not used, then
Acceptance shall be determined upon the acceptance of such Drug Approval Application by the applicable Regulatory Authority in any European country; and (c) in Japan, receipt by KHK of written notice of acceptance of filing of such Drug
Approval Application from the Japanese Ministry of Health, Labor and Welfare (“MHLW”). 

1.2 “[***]” shall have the meaning set forth in Section 4.1(c)(ii). 

1.3 “[***]” shall have the meaning set forth in Section 4.1(c)(ii). 

1.4 “Additional Target” shall have the meaning set forth in Section 4.1(c)(i). 

1.5 “Additional Target Notice” shall have the meaning set forth in Section 4.1(c)(i). 

1.6 “Additional Target Option Period” shall have the meaning set forth in Section 4.1(c)(i). 

1.7 “Adverse Event(s)” means any untoward medical occurrence in a patient or clinical investigation subject who is
administered a medicinal product, which occurrence may have, but does not necessarily have to have, a causal relationship with the medicinal product, including any occurrence designated as an adverse event under 21 C.F.R. 312.32 and any other
Applicable Laws. 
 1.8 “Affiliate” means any person, organization, corporation or other business entity that
directly or indirectly controls, is controlled by, or is under common control with a Party hereto. For purposes of this definition, an entity will be deemed to control another entity if it owns or controls, directly or indirectly, at least fifty
percent (50%) of the outstanding stock or other voting rights entitled to elect directors or their equivalent of such other entity. 

  
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 1.9 “Annual Net Sales” means, with respect to any Calendar Year, the
aggregate amount of the Net Sales for such Calendar Year. 
 1.10 “Applicable Laws” means Federal, state, local,
national and supra-national laws, statutes, rules and regulations, including any rules, regulations or requirements of any Regulatory Authority, national securities exchange or securities listing organization, that are in effect from time to time
during the Term and apply to a particular activity hereunder. 
 1.11 “[***]” shall have the meaning set forth in
Section 7.2.5. 
 1.12 “Calendar Quarter” means the period beginning on the Effective Date and ending on the
last day of the calendar quarter in which the Effective Date falls, and thereafter the respective three month periods ending on March 31, June 30, September 30, or December 31 for so long as this Agreement is in effect.

 1.13 “Calendar Year” means the period beginning on the Effective Date and ending on December 31 of the
calendar year in which the Effective Date falls, and thereafter each successive twelve month period commencing on January 1 and ending on December 31 for so long as this Agreement is in effect. 

1.14 “Challenge” means any challenge to the validity or enforceability of any of the DICERNA Patent
Rights or KHK Patent Rights, including without limitation by (a) filing a declaratory judgment action in which any of the DICERNA Patent Rights or KHK Patent Rights is alleged to be invalid or unenforceable; (b) citing prior art pursuant
to 35 U.S.C. §301, filing a request for re-examination of any of the DICERNA Patent Rights or KHK Patent Rights pursuant to 35 U.S.C. §302 and/or §311, or provoking or becoming party to an interference with an application for any of
the DICERNA Patent Rights or KHK Patent Rights pursuant to 35 U.S.C. §135; or (c) filing or commencing any re-examination, opposition, cancellation, nullity or similar proceedings against any of the DICERNA Patent Rights or KHK Patent
Rights in any country. 
 1.15 “CMO” means any contract manufacturing organization. 

1.16 “Combination Product” means any pharmaceutical product which includes a Licensed Product and at least one
therapeutically-active compound that is not a Licensed Product, including, for example, an antibody, a low molecular weight compound or other compound that is not a DsiRNA-Based Compound and is not conjugated to a DsiRNA-Based

  
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Compound. For purposes of clarity, two or more DsiRNA-Based Compounds used together as active ingredients in a Nanoparticle DDS for a Licensed Product for a single or multiple Target(s) shall not
constitute a “Combination Product” for purposes of this Agreement. 
 1.17 “Commercially Reasonable
Efforts” means, with respect to a Party’s obligations under this Agreement, [***]. 
 1.18 “Confidential
Information” means (a) with respect to DICERNA, all tangible embodiments of DICERNA Background DDS Technology, DICERNA Background Dicer Substrate Technology and DICERNA Program Technology (b) with respect to KHK, all tangible
embodiments of KHK [***] DDS Technology and KHK Program Technology and (c) with respect to each Party, any and all inventions, Know-How, and data and shall include, without limitation, information relating to research and development plans,
experiments, results and plans, compounds, therapeutic leads, candidates and products, clinical and preclinical data, trade secrets and manufacturing, marketing, financial, regulatory, personnel and other business information and plans, all
scientific, clinical, regulatory, marketing, financial and commercial information or data, whether communicated in writing, orally or by any other means, and which is disclosed or provided by or on behalf of such Party (the
“Disclosing Party”) to the other Party (the “Receiving Party”) in connection with this Agreement. Confidential Information will not include information that: 

(a) is known by the Receiving Party at the time of its receipt, and not through a prior disclosure by the Disclosing Party, as documented by
written records; 
 (b) is properly in the public domain through no fault of the Receiving Party; 

(c) is subsequently disclosed to the Receiving Party by a Third Party who may lawfully do so and is not under an obligation of confidentiality
to the Disclosing Party; or 
 (d) is developed by the Receiving Party independently of Confidential Information received from the
Disclosing Party, as documented by written records. 
 For purposes of clarity, unless excluded from Confidential Information pursuant to (a) through
(d) above, any scientific, technical or financial information of a Party that is disclosed at any meeting of the JSC or JRC or disclosed through an audit report shall constitute Confidential Information of the Disclosing Party. Notwithstanding
anything herein to the contrary, the terms of this Agreement shall constitute Confidential Information of each Party. 
 1.19
“Control” or “Controlled” means, with respect to any Patent Rights or Know-How, that the Party owns or has a license to such Patent Rights or Know-How and has

  
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the ability to grant access, a license, or a sublicense to such Patent Rights or Know-How to the other Party as provided for in this Agreement without violating an agreement with, or infringing
any rights of, a Third Party as of the time the Party would be first required under this Agreement to grant the other Party such access, license or sublicense. 

1.20 “Co-Promote” or “Co-Promotion” means with respect to any Co-Promoted Product, the joint
promotion and Detailing (as defined in Schedule 7) of such Co-Promoted Product in the Co-Promotion Territory using a coordinated sales force consisting of representatives of both Parties. 

1.21 “Co-Promoted Product” means any Licensed Product for the Initial Target with respect to
which DICERNA has exercised a Co-Promotion Option. 
 1.22 “Co-Promotion Option” shall have the meaning set forth in
Section 5.9(b). 
 1.23 “Co-Promotion Option Exercise Payment” means, with respect to any Co-Promoted Product,
[***]. [***] 
 1.24 “Co-Promotion Option Exercise Period” means, with respect to each Licensed Product for the
Initial Target, the period commencing on [***] and continuing for a period of [***]. 
 1.25 “Co-Promotion
Territory” means the United States of America and its territories and possessions. 
 1.26
“Criteria” means the qualitative and/or quantitative required condition(s) to be used with respect to each DsiRNA-Based Compound for a given Program Target to advance the DsiRNA-Based Compound for such Program Target to the
next stage of the Research Collaboration or development. For purposes of clarity, the Criteria shall be set forth in Schedules 3-A, 3-B and 3-C attached hereto, as amended by mutual agreement of the Parties. 

1.27 “CRO” means any contract research organization. 

1.28 “CTN” means the notification submitted to the Japanese Ministry of Health, Labor and Welfare prior to the
initiation of a clinical trial in Japan. 
 1.29 “DDS” or “Drug Delivery System” means any
excipient, conjugate or formulation designed to improve the pharmacokinetic, pharmacodynamic, biodistribution, and/or other pharmaceutical properties of any DsiRNA-Based Compound and achieve intracellular uptake. 

  
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 1.30 “DDS Technology” means any Technology that relates to, or
constitutes, any DDS. 
 1.31 “Development and Commercialization Plan” shall have the meaning set
forth in Section 5.3. 
 1.32 “Development Costs” means, with respect to a Licensed Product subject to a
Co-Promotion Option, the External Development Costs and Internal Development Costs incurred by KHK (or for its account by an Affiliate or a Third Party) for the purpose of obtaining Registration in the Co-Promotion Territory after the Effective Date
that are generally consistent with the respective development activities of KHK in the applicable Development and Commercialization Plan and are directly and solely attributable to the development of such Licensed Product. 

1.33 “Development Criteria” means the qualitative and/or quantitative criteria described in Schedule 3-C with
respect to the identification of a Licensed Product. 
 1.34 “DICERNA Background DDS Patent Rights” means any Patent
Rights Controlled by DICERNA as of the Effective Date listed in the attached Schedule 2-A, and any Patent Rights Controlled or owned or controlled by DICERNA during the Term that contain one or more claims that cover DICERNA Background DDS
Technology. For purposes of clarity, attached hereto as Schedule 2-A is a list represented by DICERNA to be a complete and accurate list of patents and patent applications Controlled by DICERNA as of the Effective Date that contain one
or more claims that cover DICERNA DDS Background Technology. For purposes of this definition only, “controlled” means, with respect to any Patent Rights that DICERNA licenses from a Third Party, the ability of DICERNA to grant a
sublicense to such Patent Rights without violating the license agreement with, and without the payment by DICERNA of any additional consideration to, the Third Party licensor. 

1.35 “DICERNA Background DDS Technology” means any Know-How Controlled by DICERNA as of the Effective Date that
relates to any DDS Technology, or owned or controlled by DICERNA during the Term that relates to Nanoparticle DDS. For purposes of clarity, DICERNA Background DDS Technology shall not include DICERNA Program Technology or DICERNA’s interest in
Joint Technology. For purposes of this definition only, “controlled” means, with respect to any Know-How that DICERNA licenses from a Third Party, the ability of DICERNA to grant a sublicense to such Know-How without violating the
license agreement with, and without the payment by DICERNA of any additional consideration to, the Third Party licensor. 

  
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 1.36 “DICERNA Background Dicer Substrate Patent Rights” means any
Patent Rights Controlled by DICERNA during the Term, including without limitation the Patent Rights licensed by DICERNA from City of Hope under the DICERNA-COH License Agreement, whether filed before or after the Effective Date, other than the
DICERNA KRAS Specific Patent Rights and DICERNA Background DDS Patent Rights, that contain one or more claims that cover DICERNA Background Dicer Substrate Technology. For purposes of clarity, attached hereto as Schedule 2-B is a list
represented by DICERNA to be a complete and accurate list of patents and patent applications Controlled by DICERNA as of the Effective Date that relate to DICERNA Background Dicer Substrate Technology. 

1.37 “DICERNA Background Dicer Substrate Technology” means any Know-How with respect to DICERNA’s Dicer Substrate
platform technology that is Controlled by DICERNA during the Term. For purposes of clarity, DICERNA Background Dicer Substrate Technology shall not include DICERNA Background DDS Technology or DICERNA Program Technology. 

1.38 “DICERNA Cost and Revenue Sharing Percentage” means, with respect to any Co-Promoted Products, fifty percent
(50%). 
 1.39 “DICERNA-COH License Agreement” means that certain Exclusive License Agreement dated as of
September 28, 2007 by and between DICERNA and City of Hope. 
 1.40 “DICERNA KRAS Specific Patent Rights” means
any Patent Rights Controlled by DICERNA during the Term that contain one or more claims that are specific to KRAS. For purposes of clarity, attached hereto as Schedule 2-C is a complete and accurate list of all patents and patent applications
that are specific to KRAS and that are Controlled by DICERNA as of the Effective Date. 
 1.41 “DICERNA Patent
Rights” means, collectively, DICERNA Program Patent Rights, DICERNA Background Dicer Substrate Patent Rights, DICERNA KRAS Specific Patent Rights and, solely to the extent selected for a Research Compound or a Licensed Product pursuant
to Section 6.1, DICERNA Background DDS Patent Rights. 
 1.42 “DICERNA Program Patent Rights” means any Patent
Rights that contain one or more claims that are specific to DICERNA Program Technology. 
 1.43 “DICERNA Program
Technology” means (a) any Program Technology that (i) is not KHK Program Technology and (ii) is conceived or first reduced to practice by employees of, or consultants to, DICERNA, alone or jointly with any Third Party,
without the use in any material respect of any KHK [***] DDS Technology, KHK Patent Rights or Joint Technology; 

  
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and (b) any Program Technology, regardless of whether conceived or first reduced to practice by employees of, or consultants to, DICERNA, KHK, or jointly by both Parties, that relates to, or
constitutes, DICERNA Background Dicer Substrate Technology or DICERNA Background Dicer Substrate Patent Rights. 
 1.44
“DsiRNA” or “Dicer Substrate siRNA” means any synthetic nucleic acid that is encompassed within DICERNA Background Dicer Substrate Technology and typically includes, but is not limited to, a duplex of
twenty-five (25) base pairs or longer in length and that is processed by the dicer enzyme and mediates gene silencing through the RNAi pathway. 

1.45 “DsiRNA-Based Compound” means a compound that contains or consists of DsiRNA. For purposes of clarity, a
DsiRNA-Based Compound shall include, but is not limited to, any DsiRNA Conjugate and any Nanoparticle DsiRNA Conjugate. 
 1.46
“DsiRNA Conjugate” means a Dicer Substrate that is a conjugate and that is for direct therapeutic administration (i.e., it is modified such that it has appropriate pharmaceutical properties without requiring formulation
within a Nanoparticle DDS). 
 1.47 “Drug Approval Application” means, with respect to a Licensed Product in a
particular country or region, an application for Registration of such Licensed Product in such country or region, including without limitation: (a) an NDA or sNDA; (b) a counterpart of an NDA or sNDA in any country or region in the
Territory (including, without limitation, a CTN in Japan and an MAA in the European Union); and (c) all supplements and amendments to any of the foregoing. 

1.48 “Effective Date” means the date first written above. 

1.49 “EMEA” means the European Medicines Agency or any successor agency or authority thereto. 

1.50 “European Union” or “EU” means
the countries of the European Union, as the European Union is constituted as of the Effective Date and as it may be expanded from time to time. 

1.51 “[***] Target” means the [***] Targets listed in Schedule 5-B attached hereto. 

1.52 “[***] Target Criteria Satisfaction Payment” shall have the meaning set forth in Section
7.2.4. 
 1.53 “[***] Target Exercise Notice” shall have the meaning set forth in Section
4.1(b)(i). 

  
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 1.54 “[***] Target Payment” shall have the
meaning set forth in Section 7.2.3. 
 1.55 “[***] Target Period” shall have the meaning set forth in Section
4.1(b)(i). 
 1.56 “[***] Option” shall have the meaning set forth in Section 4.1(b)(i). 

1.57 “External Development Costs” means, with respect to a Licensed Product subject to a Co-Promotion Option, [***].

 1.58 “FDA” means the United States Food and Drug Administration or any successor agency having the administrative
authority to regulate the approval for marketing of new human pharmaceutical or biological therapeutic products in the United States. 

1.59 “FDCA” means the United States Federal Food, Drug, and Cosmetic Act, as amended. 

1.60 “Field” means, collectively, the Primary Field and the Secondary Field. 

1.61 “First Commercial Sale” means with respect to any Licensed Product in a country in the Territory, the first sale,
transfer or disposition for value of such Licensed Product in such country to a Third Party by KHK, its Affiliates or its Sublicensees. For purposes of clarity, First Commercial Sale shall not include the transfer of reasonable quantities of any
free samples of a Licensed Product or reasonable quantities of a Licensed Product solely for development purposes, such as for use in experimental studies or clinical trials. 

1.62 “GAAP” means United States or Japan or other substantially equivalent generally accepted accounting principles,
consistently applied. 
 1.63 “Generic” means, with respect to a Licensed Product in each country in the Territory,
any DsiRNA-Based Compound that (a) is covered by a claim of any Patent Rights Controlled by either Party (including expired Patent Rights) specific to such Licensed Product in such country and is approved by the applicable Regulatory Authority
in such country for sale in such country; or (b) contains the same active ingredient as such Licensed Product and is approved by the applicable Regulatory Authority in such country for sale in such country; or (c) is approved by the
applicable Regulatory Authority in such country as being the same as the Licensed Product. 
 1.64 “IND” means an
Investigational New Drug application, as defined in 21 C.F.R. 312, and the regulations promulgated thereunder or any successor application authorized by the FDA under the FDCA, as amended from time to time, and any foreign equivalents thereof. 

  
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 1.65 “Independent DDS Technology” means any DDS Technology Controlled
by either Party as of the Effective Date or during the Term, other than Third Party DDS Technology, and with respect to DICERNA, other than DICERNA Background DDS Technology, and with respect to KHK, other than KHK [***] DDS Technology. 

1.66 “Initial Target” means KRAS. 

1.67 “[***]” shall have the meaning set forth in Section 7.2.2. 

1.68 “[***]” shall have the meaning set forth in Section 4.1(a)(i). 

1.69 “Initial Target Option Payment” shall have the meaning set forth in Section 7.2.1. 

1.70 “Initial Target Option Right” shall have the meaning set forth in Section 4.1(a)(i). 

1.71 “Internal Development Costs” means, with respect to a Licensed Product subject to a Co-Promotion Option, [***].

 1.72 “In Vitro Criteria” means the quantitative criteria described in Schedule 3-B attached hereto
required for the confirmation of a Target as a Program Target. 
 1.73 “In Vivo Criteria” means the qualitative
and/or quantitative criteria described in Schedule 3-A attached hereto with respect to the selection of a Research Compound. 
 1.74
“Joint Patent Rights” means Patent Rights that contain one or more claims that cover Joint Technology. 
 1.75
“Joint Research Committee” or “JRC” means the committee composed of DICERNA and KHK representatives established pursuant to Section 2.4. 

1.76 “Joint Steering Committee” or “JSC” means the committee composed of DICERNA and KHK
representatives established pursuant to Section 2.3. 
 1.77 “Joint Technology” means any Program Technology, other
than DICERNA Program Technology or KHK Program Technology, that is (a) jointly conceived or reduced to practice by employees of, or consultants to, KHK and employees of, or consultants to, DICERNA or (b) conceived or reduced to practice
solely by employees of, or consultants to, a Party through the use in any material respect of any Technology or Patent Rights of the other Party. For purposes of clarity, Joint Technology includes, but is not limited to, data and information
obtained under the Research Collaboration. 

  
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 1.78 “KHK Background Patent Rights” means any Patent Rights
Controlled by KHK during the Term that contain one or more claims that cover KHK [***] DDS Technology. For purposes of clarity, (a) KHK Background Patent Rights shall not include KHK Program Patent Rights and (b) attached hereto as
Schedule 4 is a complete and accurate list of all KHK Background Patent Rights Controlled by KHK as of the Effective Date. 
 1.79
“KHK Patent Rights” means, collectively, KHK Background Patent Rights and KHK Program Patent Rights. 
 1.80
“KHK Program Patent Rights” means any Patent Rights that contain one or more claims that are specific to KHK Program Technology. 

1.81 “KHK Program Technology” means (a) any Program Technology that (i) is not DICERNA Program Technology
and (ii) is conceived or first reduced to practice by employees of, or consultants to, KHK, alone or jointly with any Third Party, without the use in any material respect of any DICERNA Technology, DICERNA Patent Rights or Joint Technology; and
(b) any Program Technology, regardless of whether conceived or first reduced to practice by employees of, or consultants to, DICERNA, KHK or jointly by both Parties, that relates to or constitutes the KHK [***] DDS Technology and/or KHK
Background Patent Rights. 
 1.82 “KHK [***] DDS Technology” means the Nanoparticle DDS Know-How known
as “[***]” Controlled by KHK. 
 1.83 “Know-How” means all tangible or intangible know-how, inventions
(whether patentable or not), discoveries, processes, formulas, data, clinical and preclinical results, non-patented inventions, trade secrets, and any physical, chemical, or biological material or any replication of any such material in whole or in
part. 
 1.84 “Knowledge” means, with respect to any representation or warranty of DICERNA or
KHK, the actual knowledge of any executive officer (as defined for purposes of Section 14 of the Securities Exchange Act of 1934, as amended) of DICERNA or KHK, as the case may be. 

1.85 “KRAS” means the KRAS Gene and its encoded protein including wild type, oncogenic mutant, and alternative spliced
isoforms (K-rasA and K-rasB). 
 1.86 “KRAS Gene” means the gene identified as follows: [***]. 

  
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 1.87 “Lead Transfer Milestone” shall have the meaning set forth in
Section 7.3. 
 1.88 “Licensed Product” means any pharmaceutical product that KHK decides to develop
that contains, incorporates or is comprised of one or more Research Compounds and that, in any case, targets one or more Program Targets. For purposes of clarity, the term Licensed Product shall include all Co-Promoted Products. 

1.89 “Lipid” means a molecule having both a lipophilic group and a hydrophilic group. 

1.90 “MAA” means an application submitted to the EMEA to obtain European Commission authorization for the marketing of
a Licensed Product in the European Union, or any successor application or procedure required to sell a Licensed Product in the European Union. 

1.91 “Major Market Country” means each of [***]. 

1.92 “[***]” shall have the meaning set forth in Section 4.1(c)(i). 

1.93 “Nanoparticle DDS” means [***]. 

1.94 “Nanoparticle DsiRNA Conjugate” means a DsiRNA that is conjugated to another molecule to improve the
pharmaceutical properties and/or performance of a Nanoparticle DDS. 
 1.95 “NDA” means a new drug application, as
defined in the FDCA and the regulations promulgated thereunder or other applications filed with the FDA to obtain approval for marketing a Licensed Product in the United States, or any future equivalent process and any foreign equivalents thereof.

 1.96 “Net Sales” means, with respect to a Licensed Product, [***]. 

1.97 “Party” means KHK or DICERNA. “Parties” means KHK and DICERNA. 

1.98 “Patent Rights” means the rights and interests in and to: (a) any patent applications (including provisional
applications and applications for certificates of invention); (b) any patents issuing from such patent applications (including certificates of invention); (c) all patents and patent applications based on, corresponding to, or claiming the
priority date(s) of any of the foregoing; (d) any reissues, substitutions, confirmations, registrations, validations, re-examinations, additions, continuations, continued prosecutions, continuations-in-part, or divisions of or to any of the
foregoing; and (e) any term extension or other governmental action which provide exclusive rights beyond the original patent expiration date. 

  
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 1.99 “Phase II Clinical Trial” means one or more clinical trials
conducted in patients with a particular disease or condition, which clinical trial(s) are designed to establish the safety, appropriate dosage and pharmacological activity of an investigational drug given its intended use, and to initially explore
its efficacy for such disease or condition. 
 1.100 “Phase III Clinical Trial” means one or more clinical trials on
sufficient numbers of patients, which clinical trial(s) are designed to (a) establish that a drug is safe and efficacious for its intended use; (b) define warnings, precautions and adverse reactions that are associated with the drug in the
dosage range to be prescribed; and (c) support Registration of such drug. 
 1.101 “Primary Field”
means human pharmaceutical use for the treatment of cancer. 
 1.102 “Program Target” means each
Target selected for inclusion in the Research Collaboration. For purposes of clarity, the term Program Target shall mean (a) the Initial Target; (b) any [***] Target with respect to which KHK exercises its [***] Option; (c) [***]; (d)
[***]; and (e) [***]. 
 1.103 “Program Technology” means any Know-How (including any new and
useful process, method of manufacture or composition of matter) or Proprietary Material that is conceived and first reduced to practice (actually or constructively), whether or not patentable, by employees of, or consultants to, either Party or
jointly by both Parties, in the conduct of the Research Collaboration or in connection with the development or commercialization of Research Compounds and/or Licensed Products. 

1.104 “Proprietary Materials” means tangible chemical, biological or physical materials (a) that are furnished by
or on behalf of one Party to the other Party in connection with this Agreement, whether or not specifically designated as proprietary by the transferring Party or (b) that are otherwise conceived or reduced to practice in the conduct of the
Research Collaboration. 
 1.105 “Royalty Term” shall have the meaning set forth in Section 7.6. 

1.106 “Registration” means, with respect to a Licensed Product, (a) in the United States, approval by the FDA of
an NDA, or similar application for marketing approval, and satisfaction of any related applicable FDA registration and notification requirements (if any), and (b) in any country or region other than the United States, approval by any Regulatory

  
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Authority having jurisdiction over such country or region of a single application or set of applications comparable to an NDA and satisfaction of any related applicable regulatory and
notification requirements, if any, together with any other approval necessary to make and sell pharmaceuticals commercially in such country or region. For purposes of clarity, “Registration” in the United States means
approval of an NDA permitting marketing of the applicable Licensed Product in interstate commerce in the United States, “Registration” in the European Union means marketing authorization for the applicable Licensed Product
pursuant to Council Directive 2001/83/EC, as amended, or Council Regulation 2309/93/EEC, as amended and “Registration” in Japan means final approval of an application submitted to the Ministry of Health, Labor and Welfare
(“MHW”) and the publication of a New Drug Approval Information Package permitting marketing of the applicable Licensed Product in Japan, as any of the foregoing may be amended from time to time. 

1.107 “Regulatory Authority” means the FDA, or any counterpart of the FDA outside the United States, or any other
national, supra-national, regional, state or local regulatory agency, department, bureau, commission, council or other governmental entity with authority over the distribution, importation, exportation, manufacture, production, use, storage,
transport, clinical testing or sale of a Licensed Product. 
 1.108 “Research Collaboration” means the program of
research and development of Research Compounds initially for the Initial Target, and if elected by KHK, also for the [***] Targets and [***] Targets [***] as set forth in this Agreement and the Research Collaboration Plan. 

1.109 “Research Collaboration Plan” means each written plan (a) describing the research activities to be carried
out by the Parties during the Research Collaboration Term in conducting the Research Collaboration pursuant to this Agreement, and (b) setting forth all Criteria applicable to each Research Compound that is part of such Research Collaboration.

 1.110 “Research Collaboration Term” shall have the meaning set forth in Section 3.3. 

1.111 “Research Compound” means any DsiRNA-Based Compound that is directed against a Program Target and that is
selected for optimization by KHK as an RNA interference therapeutic molecule as part of the Research Collaboration; provided, that, no DsiRNA-Based Compound shall, after becoming a Waived Compound, be designated or nominated as a Research Compound.

 1.112 “Secondary Field” means human pharmaceutical use for the treatment of [***]. 

  
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 1.113 “Serious Adverse Event” means any untoward medical occurrences
that, at any dose, results in death, is life-threatening, requires inpatient hospitalization or prolongation of existing hospitalization, results in persistent or significant disability/incapacity, or is a congenital anomaly or birth defect. 

1.114 “Sublicensee” means any Third Party or Affiliate to whom KHK grants a sublicense of some or all of the rights
granted to KHK under this Agreement pursuant to Section 6.2 hereof. 
 1.115 “[***]” shall have the meaning set forth in
Section 4.1(b)(ii). 
 1.116 “[***]” shall have the meaning set forth in section 4.1(b)(ii). 

1.117 “Target” means a specific gene and its encoded protein. 

1.118 “Territory” means worldwide. 

1.119 “Third Party” means any Party, other than KHK or DICERNA and their respective Affiliates. 

1.120 “Third Party DDS Technology” means any DDS Technology that is owned or controlled by one or more Third Parties
[***]. 
 1.121 “Unanimous Decision” means any of the following matters requiring the unanimous approval of both KHK
and DICERNA: [***]. 
 1.122 “Valid Claim” means any claim in a pending patent application or an issued and
unexpired patent which has not been held unenforceable, unpatentable or invalid by a decision of a court or other governmental agency of competent jurisdiction following exhaustion of all possible appeal processes and which has not been admitted to
be invalid or unenforceable through reissue, reexamination or disclaimer, or otherwise. 
 1.123 “Waived
Compound” means any compound which was once a Research Compound and which is directed against a particular Waived Target. For purposes of clarity, a Research Compound that is directed against a particular Waived Target and is
also directed against any Program Target shall remain a Research Compound until such time as that Program Target becomes a Waived Target. 

1.124 “Waived Target” means any Target that becomes a Waived Target pursuant to Sections 4.1 (a)(ii),
4.1(b)(ii) or 4.1(c)(ii). 

  
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 ARTICLE 2 

COLLABORATION OVERVIEW AND GOVERNANCE 

2.1 The Research Collaboration. DICERNA and KHK agree to undertake the Research Collaboration during the Research
Collaboration Term under the terms and conditions set forth in this Agreement. 
 2.2 Research Collaboration
Goals. The goal of the Parties with respect to the Research Collaboration shall be [***]. The Parties hereby agree that [***].  

2.3 Governance – Joint Steering Committee. 

2.3.1 Establishment. The JSC shall be a forum for the Parties to hold discussions and exchange views regarding the
strategic direction and overall management of the Research Collaboration. The JSC shall consist of [***]. The JSC may name additional members to the JSC from time to time so long as [***]. Each Party will designate a member who will be the primary
contact on the JSC for that Party. Not later than thirty (30) days from the Effective Date (a) DICERNA and KHK shall establish the JSC and (b) each Party shall provide the other with a list of its initial members of the JSC. Not later
than sixty (60) days after the Effective Date, the JSC shall hold an initial organizational meeting. Either Party can change its members on the JSC by written notice to the other Party. 

2.3.2 Joint Steering Committee Meetings. The JSC shall establish a schedule of times for regular meetings; provided, that,
during the Research Collaboration Term the JSC shall meet at least once every [***]. In addition, the JSC may meet on an ad hoc basis on not less than [***] notice (if the meeting is to be conducted in person) or [***] notice (if the meeting is
conducted by teleconference). The Parties shall mutually agree upon the times and places for such meetings, alternating between Watertown, Massachusetts and Tokyo, Japan, or such other location as members of the JSC shall agree. Each Party shall
bear its own costs associated with holding and attending such meetings. If mutually agreed by the Parties, such meetings may be held by videoconference or teleconference. An agenda shall be agreed upon by the JSC members and be distributed to the
Parties by the hosting Party no less than [***] before any meeting. If a representative of a Party on the JSC is unable to attend a meeting of the JSC, such Party may designate an alternate to attend such meeting and vote on behalf of such missing
representative. In addition, each Party may, at its discretion and upon written notice to the other Party, invite nonvoting employees, consultants or advisors (which consultants and advisors shall be under an obligation of confidentiality no less
stringent than those terms set forth herein) to attend any meeting of the JSC. Minutes shall be kept of all JSC meetings by the hosting Party and sent to all members of the JSC for review and approval

  
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within [***] after each meeting. Minutes shall be deemed approved unless any member of the JSC objects to the accuracy of such minutes by providing written notice to the hosting Party within
[***] of receipt of the minutes; provided, that, in the event of any such objection by a Party that the Parties are unable to resolve, such minutes shall simply reflect such unresolved differences of opinion. 

2.3.3 Joint Steering Committee Responsibilities. The JSC shall, during the Research Collaboration Term, have the
following responsibilities: 
 (a) discussing whether or not to [***] and discussing the allocation between the Parties of the
responsibility for paying any consideration to [***] in connection with such [***], taking into consideration the respective rights of each Party in such [***] DDS Technology; 

(b) periodically reviewing the progress and results of the Research Collaboration to ensure that the Parties are meeting their commitments
for both human and financial support and are each fulfilling all of their respective diligence and other contractual obligations under this Agreement; 

(c) attempting to resolve any disagreements between the Parties with respect to the research conducted under the Research Collaboration,
including any disagreements referred to it by the JRC and any other committee formed by the JSC; 
 (d) reviewing and monitoring all
results of the work performed under the Research Collaboration, including the scientific efforts of both Parties; 
 (e) reviewing and
discussing the Research Collaboration Plans; and 
 (f) discussing such other matters as may be delegated to the JSC pursuant to this
Agreement or by mutual written agreement of the Parties during the Research Collaboration Term. 
 2.3.4 Joint Steering Committee
Decisions. At each JSC meeting, (a) the presence in person of at least [***] shall constitute a quorum and (b) the members of a Party shall have one (1) collective vote on all matters before the JSC at such
meeting. All decisions of the JSC shall be made by unanimous vote. Whenever any action by the JSC is called for hereunder during a time period in which the JSC is not scheduled to meet, any member may cause the JSC to take the action in the
requested time period by calling a special meeting or by circulating a written consent. If the JSC is unable to reach a unanimous vote on any matter, including any matters referred to it for resolution by the JRC (each a “Disputed
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shall have the right to make the final decision on such Disputed Matter in its sole discretion, provided, that, if the Disputed Matter constitutes a Unanimous Decision, the Disputed Matter shall
be resolved in accordance with Section 13.5. 
 2.3.5 Expiration of Research Collaboration Term. At the expiration
of the Research Collaboration Term, the JSC shall be disbanded and the Parties shall communicate directly with each other with respect to the activities contemplated by this Agreement in such manner as is reasonable and practical, including by
having periodic telephonic and face-to-face meetings as necessary. 
 2.4 Governance – Joint Research
Committee. 
 2.4.1 Establishment. The day to day, working level communications, planning and handling
of practical adjustments of the Research Collaboration shall be performed by the JRC, comprised of equal representation from KHK and DICERNA. The JRC shall consist of [***]. The JRC may name additional members to the JRC from time to time so long as
[***]. Each Party will designate a member who will be the primary contact on the JRC for that Party. Not later than thirty (30) days from the Effective Date (a) DICERNA and KHK shall establish the JRC and (b) each Party shall provide
the other with a list of its initial members of the JRC. Not later than sixty (60) days after the Effective Date, the JRC shall hold an organizational meeting to establish the operational requirements for the JRC. Either Party can change its
members on the JRC by written notice to the other Party.  
 2.4.2 Joint Research Committee Meetings. The JRC
shall establish a schedule of times for regular meetings, taking into account, without limitation, the planning needs of the Research Collaboration and the responsibilities of the JRC; provided, that, during the Research Collaboration Term, the JRC
shall meet at least every [***]. In addition, the JRC may meet on an ad hoc basis on not less than [***] notice (if the meeting is to be conducted in person) or [***] notice (if the meeting is conducted by teleconference). The Parties shall mutually
agree upon the times and places for such meetings, alternating between Watertown, Massachusetts and Tokyo, Japan, or such other location as members of the JRC shall agree. Each Party shall bear its own costs associated with holding and attending
such meetings. If mutually agreed by the Parties, such meetings may be held by videoconference or teleconference. An agenda shall be agreed upon by the JRC members and be distributed to the Parties by the hosting Party no less than [***] before any
meeting. If a representative of a Party on the JRC is unable to attend a meeting of the JRC, such Party may designate an alternate to attend such meeting and vote on behalf of such missing representative. In addition, each Party may, at its
discretion and upon written notice to the other Party, invite nonvoting employees, consultants or advisors (which consultants and advisors shall be under an obligation of  

  
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confidentiality no less stringent than those terms set forth herein) to attend any meeting of the JRC. Minutes shall be kept of all JRC meetings by the hosting Party and sent to all members of
the JRC for review and approval within [***] after each meeting. Minutes shall be deemed approved unless any member of the JRC objects to the accuracy of such minutes by providing written notice to the hosting Party within [***] of receipt of the
minutes; provided, that, in the event of any such objection by a Party that the Parties are unable to resolve, such minutes shall simply reflect such unresolved differences of opinion. 

2.4.3 Joint Research Committee Responsibilities. The JRC shall have the following responsibilities: 

(a) monitoring the progress of the Research Collaboration and of the conduct by the Parties of all research activities thereunder; 

(b) providing a forum for consensual discussion with respect to the Research Collaboration and of the conduct by the Parties of all research
activities thereunder with the goal of having one or more Research Compounds achieve the applicable Criteria; 
 (c) reviewing data,
reports or other information submitted by the Parties with respect to work conducted in the Research Collaboration; and 
 (d) discussing
such other matters as appropriate with respect to the Research Collaboration during the Research Collaboration Term. 
 2.4.4
Joint Research Committee Decisions. At each JRC meeting, (a) the presence in person of at least [***] shall constitute a quorum and (b) the representatives of a Party shall have one (1) collective vote on all
matters before the JRC at such meeting. All decisions of the JRC, shall be made by unanimous vote. If the JRC is unable to reach a unanimous vote on any matter, the matter shall be referred to the JSC for resolution pursuant to Section 2.3.4.

 2.5 Expiration of Research Collaboration Term. At the expiration of the Research Collaboration Term, the JRC shall be
disbanded and the Parties shall communicate directly with each other with respect to the activities contemplated by this Agreement in such manner as is reasonable and practical, including by having periodic telephonic and face-to-face meetings as
necessary. 
 2.6 Alliance Managers. Each Party shall have the right, but not the obligation, to appoint a person who shall
oversee interactions between the Parties for all matters related to the Research Collaboration and/or the development and commercialization of Research 

  
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Compounds and Licensed Products (each, an “Alliance Manager”). The Alliance Managers shall have the right to attend all meetings of the JSC and JRC as non-voting
participants and may bring to the attention of the Parties any matters or issues either of them reasonably believes should be discussed and shall have such other responsibilities as the Parties may mutually agree in writing. Each Party may replace
its Alliance Manager at any time or may designate different Alliance Managers by notice in writing to the other Party.  
 2.7
Appointment Not an Obligation. The appointment of any members of a committee and any Alliance Manager is a right of each Party and not an obligation and shall not be a “deliverable” as defined in EITF Issue No. 00-21. Each
Party shall be free to determine not to appoint members of any committee and not to appoint an Alliance Manager. If a Party does not appoint members of a committee and/or an Alliance Manager, it shall not be a breach of this Agreement, nor shall any
consideration be required to be returned. 
 ARTICLE 3 

THE RESEARCH COLLABORATION 

3.1 Overview of Research Collaboration. DICERNA and KHK shall use Commercially Reasonable Efforts to conduct the Research
Collaboration, focused on the goals set forth in Section 2.2, in accordance with the Research Collaboration Plan or as otherwise agreed by the Parties.  

3.2 [***] DDS Technology. The Parties shall discuss whether or not to [***]. For purposes of clarity, the respective
rights of each Party in [***]. If the Parties are unable to agree whether or not to [***]. 
 3.3 Research Collaboration
Term. 
 3.3.1 Research Collaboration Term. The Research Collaboration for the Initial Target shall commence on
the Effective Date and continue, unless earlier terminated by the Parties, until [***] from the Effective Date unless extended by KHK and reasonably agreed by DICERNA (the “Research Collaboration
Term”); provided, that, if any [***] Target or [***] Target that is a Program Target is part of ongoing activities being conducted in the Research Collaboration as set forth in the applicable Research Collaboration
Plan which are not completed on or before the expiration of such [***] period, the Research Collaboration Term with respect to such [***] Target or [***] Target shall be extended, unless earlier terminated by the Parties, for a period to be
reasonably agreed by the Parties not to exceed [***] from the date of the applicable [***] Target Exercise Notice or the date of exercise of such [***] Right, as the case may be, but no later than the completion of the applicable research activities
or achievement of the applicable Lead Transfer Milestone.  

  
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 3.3.2 Extended Research Term. The Research Collaboration for any [***]
Targets and any [***] Targets that are Program Targets shall commence on the date of payment by KHK of the applicable [***] set forth in Section 7.2.5 and, with respect to any [***] Target that replaces the Initial Target pursuant to
Section 4.1(a)(ii), as the date of such replacement and in each such case continue, unless earlier terminated by the Parties, for a period of [***], unless otherwise reasonably agreed by the Parties, but no later than the completion of such
research activities or achievement of the applicable Lead Transfer Milestone. 
 3.4 Research Collaboration Plans. The
Research Collaboration Plan for the Initial Target has been prepared by the Parties and attached hereto as Exhibit A. An update of such Research Collaboration Plan, and Research Collaboration Plans for each other Program Target, shall be
prepared by, or at the direction of, the Parties and submitted to the JSC for its approval. 
 3.5 Funding; Costs of
Manufacture. 
 3.5.1 Funding. During the Research Collaboration Term, KHK will provide research funding to DICERNA
for the discovery, characterization and testing of Research Compounds based on the Research Collaboration Plan prepared for the Initial Target. In consideration of the conduct by DICERNA of such research activities, KHK shall pay to DICERNA [***];
provided, that, in the event KHK terminates the Research Collaboration for the Initial Target, (i) KHK shall have no obligation to provide the research funding beyond such date of termination and (ii) DICERNA shall continue to have the
obligation to provide research for the discovery, characterization and testing of Research Compounds for any Program Targets other than the Initial Target in accordance with the applicable Research Collaboration Plan with no additional funding from
KHK, but except as otherwise agreed by the Parties, shall have no obligation beyond such activities and Program Targets. Notwithstanding the foregoing, if KHK replaces the Initial Target with an [***] Target as provided in Section 4.1(b)(ii),
KHK shall continue to pay DICERNA the research funding in accordance with this Section 3.5.1 with respect to such replacement Target but each payment of (a) (b) (c) shall not be paid more than one time in any event. 

3.5.2 Manufacturing Costs. 

(a) DICERNA, at its sole cost, shall manufacture or obtain DsiRNA-Based Compound for the conduct of the Research Collaboration for the
Initial Target 

  
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in the quantities described in the Research Collaboration Plan attached as Exhibit A; provided, that, such quantities shall not exceed the quantity of such DsiRNA-Based Compound specified
in Exhibit A. To the extent DICERNA’s cost to manufacture or obtain such materials exceeds $[***] USD ([***] dollars), DICERNA shall provide KHK with written notice, together with records which show such cost to manufacture or to obtain
the materials from a CMO (in such case an invoice from the CMO), and KHK shall pay DICERNA a transfer price for such materials manufactured or obtained by DICERNA on and after such date equal to [***]. 

(b) DICERNA shall manufacture or obtain all DsiRNA-Based Compound for the conduct of the Research Collaboration for each Program Target
(including, in the event Initial Target is replaced with an [***] Target, such [***] Target) other than Initial Target in the quantities mutually agreed by the Parties which shall be described in the Research Collaboration Plan for such Program
Target. To the extent DICERNA’s cost to manufacture or obtain such materials exceeds $[***] USD ([***] dollars), DICERNA shall provide KHK with written notice, together with records which show such cost to manufacture or to obtain the materials
from a CMO (in such case an invoice from the CMO), and KHK shall pay DICERNA a transfer price for such materials manufactured or obtained by DICERNA on and after such date equal to [***]. 

3.6 Conduct of Research Collaboration. 

3.6.1 Responsibilities of the Parties. During the Research Collaboration Term, each Party shall use Commercially
Reasonable Efforts to conduct the research activities for which it is responsible in accordance with the applicable Research Collaboration Plan. Without limiting the foregoing, (i) DICERNA shall be solely responsible for the identification,
preparation and characterization of Research Compounds meeting the In Vitro Criteria and In Vivo Criteria and (ii) the Parties shall both be responsible for optimizing Research Compounds until the
selection of an appropriate DDS Technology is determined and the appropriate DDS Technology performance for each Program Target is confirmed.  

3.6.2 Research Collaboration Staffing. KHK and DICERNA employees involved in the Research Collaboration will conduct the
research activities in a manner as required to maintain progress on the objectives of the Research Collaboration as set forth herein and in the Research Collaboration Plan. To achieve these objectives, KHK and DICERNA will assign qualified employees
to conduct such research activities. Each Party shall bear the travel, lodging and meal expenses of any of its employees who visit the other Party’s facilities in connection with the Research Collaboration and shall not be reimbursed by the
other Party for any such expenses. 

  
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 3.6.3 Subcontracting. Either Party may subcontract to a Third Party any portion
of the activities assigned to it under the Research Collaboration Plan; provided, that, (a) KHK or DICERNA, as applicable, obtains a written agreement with such Third Party containing appropriate confidentiality and non-use provisions and
written assignments to KHK or DICERNA, as applicable, of all Patent Rights and Know-How that such subcontractors may develop by reason of work performed under such contract and (b) any Third Party subcontractor is required to perform its
services in accordance with any applicable generally accepted professional standards, including regulatory standards, as well as standards designated by the JRC or JSC (if any) and any Applicable Laws. 

3.6.4 Staff Availability. Each Party shall require its employees and permitted subcontractors engaged in the Research
Collaboration to be reasonably available upon reasonable notice during normal business hours at their respective places of employment to consult with the other Party on issues arising during Research Collaboration and in connection with any request
from any regulatory agency, including those relating to regulatory, scientific, and technical issues. 
 3.6.5 Facility
Visits. Representatives of KHK and DICERNA may, upon reasonable advance notice and during normal business hours, visit the facilities where the Research Collaboration work is being conducted. 

3.6.6 Exchange of Information. Subject to the terms of this Agreement and any confidentiality obligations to Third Parties, each
Party will promptly make available and disclose to the other Party such information regarding Research Compounds, Program Targets, DDS Technology and other information generated in carrying out the Research Collaboration as set forth in the Research
Collaboration Plan. All Program Technology conceived or reduced to practice in the course of the Research Collaboration by a Party will be promptly disclosed to the other Party. At a Party’s request, the other Party will provide written reports
of any studies performed by such other Party as part of the Research Collaboration required to support regulatory submissions relating to Licensed Products to be made by such requesting Party or its sublicensees without any compensation and will
allow such requesting Party and its sublicensees to use the data included in such reports to support such submissions. The Parties shall use reasonable efforts to communicate often by telephone, electronic mail or other mechanisms to keep each Party
fully advised of the activities being carried out by a Party under the Research Collaboration. 
 3.6.7 Reports. Without
limiting the generality of the foregoing, each Party shall, at least once each [***] during the Research Collaboration Term, provide reports to the JRC in reasonable detail regarding the status of its activities under the Research Collaboration and
such additional information that it has in its possession as may be reasonably requested from time to time by the JRC. 

  
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 3.6.8 Records. KHK and DICERNA will each maintain records in sufficient
detail and in good scientific and business manner appropriate for purposes such as patent and regulatory matters, which records will be complete and accurate and will fully and properly reflect all work done and results achieved in the performance
of the Research Collaboration, including prompt signing and corroboration of laboratory notebooks and conception documents. 
 3.6.9
Compliance. All research activities conducted in connection with the Research Collaboration shall be carried out in compliance with any Applicable Laws governing the conduct of research at the site where such activities are being
conducted. Without limiting the foregoing, all animals involved in the Research Collaboration shall be provided humane care and treatment in accordance with generally acceptable current veterinary practices. 

3.7 [***] Technology Transfer. To the extent necessary for the conduct of the Research Collaboration by DICERNA, KHK
shall, at its sole cost and expense, provide such disclosure to DICERNA of the KHK [***] DDS Technology and such technical advice or assistance related thereto as KHK reasonably determines to be reasonably necessary. 

3.8 Independent DDS Technology. 

3.8.1 KHK Rights. In the event that KHK conducts research during the Term involving the application of any Independent DDS
Technology Controlled by it to any DsiRNA-Based Compound for any Program Target outside the Research Collaboration, it may select, at its sole discretion, such DsiRNA-Based Compound (combined with such Independent DDS Technology) as a Research
Compound by providing written notice to DICERNA. 
 3.8.2 DICERNA Rights. In the event that DICERNA conducts research during
the Term involving the use of any Independent DDS Technology Controlled by it to any DsiRNA-Based Compound for any Target, DICERNA may, at its sole discretion and at any time during the Research Collaboration Term, include any such Independent DDS
Technology as DICERNA Background DDS Technology at no additional consideration payable by KHK. Provided, however, in the event DICERNA conducts the research for any Program Target, whether or not DICERNA intends to include such Independent DDS
Technology into the DICERNA Background DDS Technology, DICERNA shall report to KHK the progress and result of such research from time to time and shall not disclose to any Third Party any information or data generated from such research without a
prior written consent of KHK. 

  
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 3.9 Research Collaboration Exclusivity. During the Research
Collaboration Term, neither DICERNA nor KHK will develop or commercialize any siRNA compound for any Program Target for use in the Secondary Field in the Territory, whether internally developed by such Party or in-licensed from, or out-licensed to,
any Third Party, outside of this Agreement. 
 ARTICLE 4 

SELECTION OF PROGRAM TARGETS; OPTION RIGHTS 

4.1 Selection of Program Targets. 

(a) Initial Target. 

(i) The Parties hereby acknowledge and agree that the Initial Target has been designated by the Parties as a Program Target as of the
Effective Date for the Primary Field and is listed as such on the Program Target List attached hereto as Schedule 5-A. KHK shall have the right, at its sole discretion and at any time during the Research Collaboration Term, based on the
Development Criteria and the results of the Research Collaboration, to determine to proceed with further research and development of Research Compounds with respect to the Initial Target by providing written notice to DICERNA and paying the Initial
Target Option Payment (the “Initial Target Option Right”). [***] 
 (ii) If at any time after the date of payment
of the Upfront Payments and continuing for the remainder of the Research Collaboration Term for the Initial Target, KHK determines, after consultation with its internal patent counsel, that the DICERNA Background Patent Rights that cover the Initial
Target are reasonably likely to fail to provide KHK with the freedom to operate necessary for KHK to develop and commercialize DsRNAi-Based Compounds against such Initial Target, KHK shall provide DICERNA with a written notice of such decision, and
KHK shall have the one-time right to replace that Initial Target with one (1) [***] Target listed on the [***] Target List, at its sole discretion. Upon written notice by KHK to DICERNA of KHK’s decision to make such replacement,
(A) KRAS shall be deemed to be a Waived Target, and (B) the replacement [***] Target shall be deemed to be the Initial Target for purposes of this Agreement. For purposes of clarity, any Initial Target Option Payment or [***] previously
paid by KHK for the Initial Target that is replaced by an [***] Target under this Section 4.1(a)(ii) shall not be payable for such replaced Target; provided, that, all unpaid future milestones shall remain due and payable for such replaced
Target. 

  
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 (b) [***] Targets. 

(i) Exercise of Rights to [***] Targets. The Parties hereby acknowledge and agree that [***] Targets, as listed
on the [***] Target List attached hereto as Schedule 5-B, have been so designated by the Parties as of the Effective Date (each, an “[***] Target”). During the period commencing on the Effective Date and continuing for
a period of [***] (the “[***] Target Period”), KHK shall have the [***] (the “[***] Option”) to designate any [***] Target as a Program Target by providing written notice to DICERNA, which notice shall
identify the [***] Target (the “[***] Target Exercise Notice”). Upon receipt by DICERNA of an [***] Target Exercise Notice and payment of the applicable fees, the Parties shall promptly amend Schedule 5-A to include
such [***] Target as a Program Target and such [***] Target shall be a Program Target for purposes of this Agreement. [***]. 
 (ii) [***].
[***]. 
 (c) Additional Targets. 

(i) Additional Target Option Period. During the period commencing on the Effective Date and continuing for a period of [***] (the
“Additional Target Option Period”), KHK shall have the right to request that up to [***] additional Targets (the “Additional Targets”) be included in the Research Collaboration as [***]
Targets by providing written notice to DICERNA, which notice shall identify each such Additional Target (each, an “Additional Target Notice”). [***] 

(ii) [***]. [***]. 
 (iii)
Limitation on Number of [***] Targets. Notwithstanding anything to the contrary in this Agreement, under no circumstances shall KHK have, at any one time, more than [***] Targets on the [***] Target List. 

4.2 Designation of Research Compounds. KHK shall have the sole right, in its sole discretion, by providing written notice
to DICERNA at any time on or before the expiration of the Research Collaboration Term, to (a) designate any DsiRNA-Based Compound as a Research Compound, and (b) determine in its sole discretion not to continue the development and
commercialization of any Research Compound against a Program Target. 

  
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 4.3 Supply of Proprietary Materials. From time to time during the
Research Collaboration Term, either Party (the “Transferring Party”) may supply the other Party (the “Recipient Party”) with Proprietary Materials of the Transferring Party
for use in the Research Collaboration. In connection therewith, each Recipient Party hereby agrees that (a) it shall not use such Proprietary Materials for any purpose other than exercising its rights or performing its obligations under this
Agreement; (b) it shall use such Proprietary Materials only in compliance with all Applicable Laws; (c) it shall not transfer any such Proprietary Materials to any Third Party without the prior written consent of the Transferring Party,
except as expressly permitted by this Agreement; (d) the Recipient Party shall not acquire any right, title or interest in or to such Proprietary Materials as a result of such supply by the Transferring Party; and (e) upon the expiration
or termination of the Research Collaboration Term, the Recipient Party shall, if and as instructed by the Transferring Party, either destroy or return any such Proprietary Materials that are not the subject of the grant of a continuing license
hereunder. 
 ARTICLE 5 

DEVELOPMENT, COMMERCIALIZATION, 

MANUFACTURING AND SUPPLY 

5.1 KHK Development Responsibility. Except for the conduct by DICERNA of Co-Promotion Activities with respect to Co-Promoted
Products pursuant to a Co-Promotion Agreement, on and after the date of exercise by KHK of the Initial Target Option Right, or the payment of any Lead Transfer Milestone for any [***] Target(s) or [***] Target(s), as the case may be, KHK shall be
solely responsible for (a) the conduct of all development, clinical development, manufacturing, regulatory and commercial activities related to Research Compounds and Licensed Products in the Field and in the Territory and (b) for the
conduct of all regulatory activities for the Licensed Products in the Territory, including making all regulatory filings applicable thereto and will own all Registrations applicable thereto in the Territory. 

5.2 Registrations. KHK (either directly or through any Affiliate or Sublicensee) shall have the right to apply for and shall own
all Registrations for Licensed Products in any country of the Territory that it chooses. KHK agrees to use Commercially Reasonable Efforts to obtain (either directly or through an Affiliate or Sublicensee) Registrations in each Major Market Country.
If KHK does not seek Registration in any country that is not a Major Market Country and DICERNA believes that such country has a sufficient potential market for the Licensed Product to be worthy of Registration, DICERNA shall provide KHK with
written notice and KHK shall be required to explain to DICERNA the reasons behind KHK’s decision not to seek Registration in such country. 

  
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 5.3 Development and Commercialization Plans. KHK shall prepare, and submit to
DICERNA for its review, a development and commercialization plan for each Licensed Product to be developed and/or commercialized by KHK under this Agreement (each, a “Development and Commercialization Plan”)
within [***] after the designation by KHK of such Licensed Product and, in any event, prior to the initiation of development activities with respect to such Licensed Product. Thereafter, for each [***] during the Term, KHK shall provide DICERNA with
updates with respect to all significant development decisions made and actions taken by KHK with respect to such Development and Commercialization Plan. 

5.4 Manufacturing. KHK shall have the sole right and responsibility, at its sole cost and expense, for all aspects of the
manufacture and supply of the Licensed Products in the Territory; provided, that, (a) KHK shall keep DICERNA informed as to its manufacturing strategies and the progress made with respect thereto, and (b) if requested in writing by KHK,
DICERNA shall reasonably collaborate with KHK or its designated party, at KHK’s sole cost and expense, to the extent that technology transfer is required to manufacture the Licensed Products. KHK shall have the right to use CMOs and/or
analytical laboratories, at its sole discretion, to fulfill its responsibilities for the manufacture and supply of the Licensed Products in the Territory. 

5.5 Development and Commercialization Diligence. KHK shall exercise Commercially Reasonable Efforts to develop each Licensed
Product in the Field in the Territory, using the level of resources and effort which (a) are necessary to meet the timetable set forth in the Development and Commercialization Plan applicable to such Licensed Product and (b) are at a level
that is consistent with those which it would apply to a product of comparable potential resulting from its own programs. KHK will keep DICERNA reasonably informed concerning the status of its development and commercialization of each Licensed
Product. 
 5.6 Compliance. KHK shall perform its obligations under each Development and Commercialization Plan in good
scientific manner and in compliance with all Applicable Laws. 
 5.7 Reports; Information; Updates. 

(a) Development Reports. KHK shall keep DICERNA regularly informed of the progress of its efforts to develop Licensed Products in the
Field in the Territory. Without limiting the generality of the foregoing, KHK shall, at least once each [***], provide DICERNA with reports in reasonable detail regarding the status of all preclinical IND-enabling studies and activities (including
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clinical trials and other activities conducted and such additional information that they have in their possession as may be reasonably requested from time to time by DICERNA; provided, that, for
so long as DICERNA has in effect a Co-Promotion Option with respect to a Licensed Product, such reports shall include a summary of all Development Costs incurred by KHK over such [***]. 

(b) Commercialization Reports. KHK shall keep DICERNA regularly informed of the progress of KHK’s efforts to commercialize
Licensed Products in the Field in the Territory through periodic updates. Without limiting the generality of the foregoing, on and after the initiation by KHK of a Phase III Clinical Trial with respect to a Licensed Product, KHK shall provide
DICERNA with [***] written updates to each Development and Commercialization Plan, which shall identify the Drug Approval Applications with respect to such Licensed Product that KHK or any of its Affiliates or Sublicensees have filed, sought or
obtained in the prior [***] period or reasonably expect to make, seek or attempt to obtain in the following [***] period. In addition, KHK shall provide such additional information that it has in its possession as may be reasonably requested by
DICERNA regarding the commercialization of any Licensed Product, which request shall not be made more than once each [***]. 
 5.8
Adverse Event Reporting. In addition to the updates described in Section 5.7, KHK shall promptly provide DICERNA with (a) all Serious Adverse Event information relating to Licensed Products as such information is compiled or
prepared by KHK in connection with the development or commercialization of any Licensed Product and, (b) copies of Periodic Safety Update Reports (Volume 9E of the Rule Covering Medical Product in the EU). 

5.9 Co-Promotion Option. 

(a) Notice by KHK. KHK shall give DICERNA written notice of its intent to submit an NDA to the FDA with respect to each Licensed
Product for the Initial Target at least [***] prior to the anticipated date of such submission (each, an “NDA Submission Notice”), which NDA Submission Notice shall include a written report setting forth in reasonable detail
all Development Costs incurred by KHK with respect to such Licensed Product through the date of the NDA Submission Notice. Following its receipt of the NDA Submission Notice, DICERNA shall have the right, upon written notice, to review all Drug
Approval Applications prepared for such Licensed Product for the Initial Target, including the NDA, and all correspondence submitted or received with respect to such Licensed Product, at DICERNA’s sole cost and expense. 

  
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 (b) Exercise of Co-Promotion Option. DICERNA shall have the option (the
“Co-Promotion Option”), but not the obligation, to Co-Promote any Licensed Product for the Initial Target in the Co-Promotion Territory, by, at any time during the Co-Promotion Option Exercise Period applicable to that
Licensed Product (i) providing written notice to KHK (the “Co-Promotion Option Notice”), which notice shall specify the applicable Licensed Product and (ii) paying KHK the Co-Promotion Option Exercise Payment
applicable thereto. If DICERNA exercises a Co-Promotion Option with respect to a Licensed Product as described in this Section 5.9(b), such Licensed Product will thereafter be deemed to be a Co-Promoted Product for purposes of this Agreement
and the following provisions shall thereafter apply: 
 (i) the Parties shall promptly negotiate and execute a Co-Promotion Agreement for
such Co-Promoted Product in accordance with Section 5.9(c); 
 (ii) each Party shall share in the responsibility for the conduct of
Co-Promotion activities with respect to such Co-Promoted Product in the Co-Promotion Territory in accordance with the Co-Promotion Agreement; and 

(iii) KHK shall not pay to DICERNA any royalties for the Net Sales of such Licensed Product in the Co-Promotion Territory; provided, that,
DICERNA shall receive a 50:50 cost and profit sharing in lieu thereof, in accordance with the provisions as shall be set forth in the Co-Promotion Agreement. 

(c) Co-Promotion Agreement; Co-Promotion Plan. Within [***] of the date of exercise by DICERNA of a Co-Promotion Option, the Parties
shall (i) negotiate and execute a Co-Promotion Agreement (the “Co-Promotion Agreement”) which shall provide for the terms applicable to such Co-Promotion and (ii) prepare a marketing and sales plan (the
“Co-Promotion Plan”) for each Co-Promoted Product for the Co-Promotion Territory incorporating the terms set forth in the term sheet attached as Schedule 7, and with all other details and matters determined by mutual
good faith discussions and agreement of the Parties. In the event the Parties fail to execute and deliver the Co-Promotion Agreement within such [***], the Parties shall each produce a list of issues on which they have failed to reach agreement and
submit its list to be resolved in accordance with Section 13.5. 
 ARTICLE 6 

GRANT OF LICENSE RIGHTS 

6.1 License to KHK. DICERNA hereby grants to KHK and its Affiliates a royalty-bearing license to (a) DICERNA Background
Dicer Substrate Patent Rights, DICERNA Background Dicer Substrate Technology, DICERNA Program Patent Rights, 

  
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DICERNA Program Technology, DICERNA KRAS-Specific Patents and DICERNA’s interest in Joint Technology and Joint Patent Rights and (b) to DICERNA Background DDS Patent Rights and DICERNA
Background DDS Technology, solely to the extent such DICERNA Background DDS Patent Rights (the Patent Rights described in (a) and (b) above being referred to collectively as the “DICERNA Patent Rights”) and such
DICERNA Background DDS Technology (the Technology described in (a) and (b) above being referred to collectively as the “DICERNA Technology”) are selected by KHK for a Research Compound or Licensed Product, in any
case, to the extent necessary to research, develop, make, have made, use, offer for sale, sell and import Research Compounds and Licensed Products (i) in the Primary Field (with respect to Research Compounds and Licensed Products for the
Initial Target, subject to the payment of the applicable fee herein), (ii) in the Secondary Field (with respect to Research Compounds and Licensed Products for the Initial Target, subject to the payment by KHK of [***]) and (iii) subject
to the payment by KHK of all applicable payments required under this Agreement, including the payment of the applicable Lead Transfer Milestone, in the Secondary Field (with respect to Research Compounds and Licensed Products for any [***] Target
and [***] Target), in the Territory. Such licenses shall (a) be exclusive for the Initial Target in the Primary Field and in the Secondary Field, subject to the payment by KHK of [***] and exclusive for the [***] Targets and the [***] Targets
in the Secondary Field, other than Waived Targets; provided, that, DICERNA shall, and hereby does, reserve all rights under DICERNA Patent Rights and DICERNA Technology necessary for it to undertake research as part of the Research Collaboration and
to Co-Promote Co-Promoted Products, and (b) include the right for KHK and its Affiliates to grant sublicenses to Third Parties in accordance with Section 6.2. 

6.2 Right to Sublicense. KHK shall have the right to grant sublicenses to Sublicensees under the licenses granted to it
under Section 6.1 with respect to any Research Compounds and/or Licensed Products; provided, that, [***].  
 6.3 License
to DICERNA. KHK hereby grants to DICERNA a non-exclusive, royalty-free license to KHK Background Patent Rights and KHK Program Patent Rights and KHK’s interest in Joint Technology and Joint Patent Rights solely for the purpose of and to
the extent necessary for DICERNA to perform its obligations under this Agreement, including in order for DICERNA to undertake research as part of the Research Collaboration and to Co-Promote Co-Promoted Products; provided, that, the foregoing shall
not include a license to KHK [***] DDS Technology unless such KHK [***] DDS Technology is selected by KHK for a Research Compound. 

  
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 6.4 License Exclusivity. Subject to Section 3.8, during the Term of this
Agreement, neither DICERNA nor KHK will, except as contemplated by this Agreement (a) develop or commercialize any Research Compound or Licensed Product, or any Program Target with respect to which such Research Compound or Licensed Product
interacts, for use in the Secondary Field in the Territory, whether internally developed, in-licensed or out-licensed or (b) develop or commercialize (or cause to be developed or commercialized) any pharmaceutical product with respect to any
Program Target using any DsiRNA-Based Compound (whether or not a Research Compound) for use in the Secondary Field in the Territory, whether internally developed, in-licensed or out-licensed; provided that, the foregoing restrictions shall not apply
to the development or commercialization by DICERNA of Waived Targets (and or Waived Compounds in respect thereof). 
 ARTICLE 7 

FINANCIAL PROVISIONS 

7.1 Upfront Payments. Within [***] of the Effective Date, KHK shall pay to DICERNA (a) a non-refundable,
non-creditable license fee in the amount of $[***] USD ([***] dollars) in consideration of the licenses granted under this Agreement for worldwide exclusive rights to the Initial Target in the Primary Field; and (b) a non-refundable,
non-creditable option fee in the amount of $[***] USD ([***] dollars) in consideration of the [***] Option for [***] [***] Targets (the “Upfront Payments”). Such Upfront Payments
shall be payable by KHK by wire transfer of immediately available funds in accordance with wire transfer instructions of DICERNA provided in writing to KHK prior to the Effective Date. 

7.2 Option Exercise Fees. 

7.2.1 Initial Target Option Right. Within [***] of the exercise by KHK of the Initial Target Option Right with respect to the
Initial Target, KHK shall pay to DICERNA [***] (the “Initial Target Option Payment”). 
 7.2.2 [***]. [***]. 

7.2.3 [***] Target Right. For each [***] Target, within [***] of the exercise by KHK of each [***] Option, KHK shall pay to
DICERNA a non-refundable, non-creditable payment of $[***] USD ([***] dollars) per [***] Target (the [***] Target Payment”). 

7.2.4 Satisfaction of [***] Target Criteria. For each [***] Target of which [***] Option is exercised, KHK shall
pay to DICERNA a non-refundable, non-creditable confirmation fee in the amount of $[***]USD ([***] dollars) per [***] Target within [***] of the date that KHK confirms to KHK’s reasonable satisfaction that the [***] Target meets the In
Vivo Criteria applicable to such [***] Target as set forth in the Research Collaboration Plan (the [***] Target Criteria Satisfaction Payment”). 

7.2.5 [***] Targets. For each [***] Target, within [***] of such [***] Target for designation as a Program Target, KHK shall pay
to DICERNA a non-refundable, non-creditable [***] payment in the amount of $[***] USD ([***] dollars) per [***] Target (the “[***]”). 

  
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 7.3 Lead Transfer Milestone. Within [***] of the confirmation by KHK that the
Research Compound(s) prepared and transferred by DICERNA and selected by KHK meets the Development Criteria for performance of DDS for each [***] Target [***] and [***] Target [***], KHK shall pay to DICERNA a non-refundable, non-creditable payment
in the amount of [***] (“Lead Transfer Milestone”) [***] Target [***] and [***] Target [***]. Regardless of how many different kinds of Licensed Products are developed or commercialized incorporating a
particular [***] Target [***] and [***] Target [***], only one of each Lead Transfer Milestone shall be payable with respect to such [***] Target [***] and [***] Target [***]. [***]. 

7.4 R&D Milestone Payments. 

7.4.1 Milestone Payments. KHK shall pay to DICERNA the following non-refundable, non-creditable cash milestone payments within
[***] of the occurrence of the following events with respect to each Licensed Product for any Program Target: 
  

					
	 Milestone Event (US$ Million)
	  	Amount (US$)	 
		
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 [***]
	  	$	[***	] 
	 TOTAL
	  	$	[***	] 

 7.4.2 Single Milestone Payment. For purposes of clarity, KHK shall make a milestone payment
corresponding to each of the foregoing milestone events only once per Licensed Product under Section 7.4.1, regardless of the number of times such milestone event occurs for such Licensed Product. 

  
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 7.4.3 Abandoned Licensed Products. In the event that after one or more
milestone payments have been paid with respect to a Licensed Product for a Program Target, KHK abandons development efforts with respect to such Licensed Product and later performs development efforts in respect of the same Program Target using
different Research Compound(s) or by using a new combination of Research Compounds, then any milestone payments already paid for the abandoned Licensed Product in respect of such Program Target need not be paid again when the same milestone is
reached for the Research Compound or Research Compounds developed for the same Program Target. 
 7.4.4 Skipped Milestone
Events. A milestone payment shall be payable for any milestone event which is skipped to reach a subsequent milestone. For example, [***]. 

7.5 Commercial Milestone Payments. KHK shall pay to DICERNA the following non-refundable, non-creditable milestone
payments within [***] from the occurrence of the following events with respect to Licensed Products for any Program Target; provided, that, if DICERNA exercises a Co-Promotion Option with respect to a Co-Promoted Product, the Net Sales attributable
to the Co-Promoted Product in the Co-Promotion Territory shall not be counted for purposes of determining Annual Net Sales for the following milestone events for such Co-Promoted Product:  

 

					
	 Milestone Event
	  	Amount (US$)	 
		
	 [***]
	  	US$	[***	] 
	 [***]
	  	US$	[***	] 
	 [***]
	  	US$	[***	] 
	 TOTAL
	  	US$	[***	] 

 7.6 Royalty Payments. KHK shall pay to DICERNA a tiered royalty on incremental Annual Net Sales
of Licensed Products in the Royalty-Bearing Territory on a Licensed Product-by-Licensed Product and country-by-country basis commencing on the date of First Commercial Sale and continuing until the later to occur of (a) the last to expire of
any Patent Rights licensed hereunder applicable to the manufacture, use or sale of such Licensed Product, or (b) [***] years from the date of First Commercial Sale of such Licensed Product in such country (the “Royalty
Term”). Thereafter, with respect to such Licensed Product in such country, the licenses granted hereunder shall be an irrevocable, paid-up, royalty-free license. In the event DICERNA exercises the Co-Promotion Option for a Licensed
Product, KHK shall 

  
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not pay to DICERNA any royalties for the Net Sales of such Licensed Product in the Co-Promotion Territory; provided, that, DICERNA shall receive a 50:50 cost and profit sharing in lieu thereof,
in accordance with the provisions as shall be set forth in the Co-Promotion Agreement. 
  

					
	 Royalty Tier
	  	Royalty Rate	 
		
	 [***]
	  	 	[***]% ([***] percent	) 
	 [***]
	  	 	[***]% ([***] percent	) 
	 [***]
	  	 	[***]% ([***] percent	) 

 7.7 Royalty Offsets. 

7.7.1 No Valid Claim. If any Licensed Product is sold in a country in the Royalty-Bearing Territory and is not covered or
becomes not covered by a Valid Claim of the DICERNA Patent Rights, KHK Program Patent Rights or Joint Patent Rights in such country, the royalty rates in such country shall be reduced by [***] percent ([***]%) of the rates set forth in
Section 7.6 above; provided, that, in the event the royalty rate on a Licensed Product is reduced in a country under this Section 7.7.1 and is subsequently covered by a Valid Claim under the DICERNA Patent Rights, KHK Program Patent Rights
or Joint Patent Rights in such country, the full royalty rates otherwise applicable under Section 7.6 shall be reinstated for the remainder of the applicable Royalty Term. The Parties hereby acknowledge and agree that any royalties that are
payable for a Licensed Product for which no Valid Claim of Patent Rights exist shall be in consideration of (a) the performance by DICERNA of the Research Collaboration; (b) DICERNA’s expertise and know-how concerning the
identification of Research Compounds in the Field, including its development of the Dicer-Substrate Technology and its other DsiRNA-related activities conducted prior to the Effective Date; (c) the licenses granted to KHK hereunder with respect
to DICERNA Technology and Joint Technology that are not within the claims of any Patent Rights Controlled by DICERNA; (d) the exclusivity restrictions on DICERNA in this Agreement; and (e) the “head start” afforded to KHK by each
of the foregoing. 
 7.7.2 Generic Products. In the event that any Third Party that is not a Sublicensee of KHK sells a
Generic product for use in the Field in any country in the Territory in which a Licensed Product is then being sold by KHK then, during any Calendar Quarter in which sales of the Generic product by such Third Parties are equal to or greater than
[***] in such country for the preceding Calendar Quarter, the applicable royalties in effect with respect 

  
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to such Licensed Product in such country as specified in Section 7.6 above for each Calendar Quarter thereafter shall be reduced by [***] percent ([***]%). In the event that sales of the
Generic product by such Third Parties are equal to or greater than [***] in such country, the applicable royalties in effect with respect to such Licensed Product in such country shall be reduced to an amount equal to [***] percent ([***]%) of the
full royalty rates specified in Section 7.6 above (that is, [***] percent ([***]%) reduction). Notwithstanding the foregoing, (a) KHK’s obligation to pay royalties at the full royalty rates shall be reinstated on the first day of the
Calendar Quarter immediately following the Calendar Quarter in which sales of such Generic Product account for less than [***] in such country and (b) KHK’s obligation to pay royalties at [***] percent ([***]%) of the rates set forth in
Section 7.6 shall be reinstated on the first day of the Calendar Quarter immediately following the Calendar Quarter in which sales of such Generic Product account for more than [***] but less than [***] in such country. 

7.7.3 Combination of No Valid Claim and Generic Products. During such time when a Licensed Product is subject to [***] percent
([***]%) reduction in royalties in a given country pursuant to Section 7.7.1 due to the lack of a Valid Claim in such country, if the same Licensed Product is also subject to [***] percent ([***]%) reduction in royalties pursuant to
Section 7.7.2 due to competition from Generic products in such country, the royalties payable in such country shall in such case be reduced by [***] percent ([***]%) of the full royalty rates otherwise payable under Section 7.6, such that
the amount payable shall be equal to [***] percent ([***]%) of the full royalty rates otherwise payable under Section 7.6. 
 7.7.4
Third Party Payments. The amount of royalties payable to DICERNA under Section 7.6 for any Licensed Product in any country in the Royalty-Bearing Territory shall be reduced by [***] percent ([***]%) of the amount of any royalties
paid by KHK to any Third Party in consideration for the license of Patent Rights in such country if such Patent Rights would be infringed by the inclusion of the Research Compound in the Licensed Product in such country, as evidenced, to the extent
requested by DICERNA, by the written opinion of a neutral patent expert (patent counsel who (and whose firm) is not at the time of the opinion, and was not at any time during the [***] prior to such opinion, performing services for either of the
Parties) reasonably acceptable to DICERNA; provided, that, (a) KHK shall consult with DICERNA prior to entering into any agreement that provides for the payment of such royalties and (b) in no event shall the royalties payable with respect
to a Licensed Product in a country be reduced by more than [***] percent ([***]%) of what would otherwise be due with respect to such Licensed Product. 

7.7.5 Maximum Adjustment of Royalties. Notwithstanding anything to the contrary in this Agreement, under no circumstances shall
the cumulative application of the 

  
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adjustments described in Sections 7.7.1, 7.7.2, 7.7.3, 7.7.4, and 10.7.3 cause the royalty rates in Section 7.6 to be reduced in any Calendar Year below [***] percent ([***]%) of the rates
set forth in Section 7.6. 
 7.7.6 DICERNA Obligations. For purposes of clarity, DICERNA shall be solely responsible for
the amount of any royalties which DICERNA may be required to pay to any Third Parties for DICERNA Background Dicer Substrate Technology and DICERNA Background DDS Technology Controlled by DICERNA as of the Effective Date pursuant to agreements to
which DICERNA is a party and that are in effect as of the Effective Date. 
 7.8 Accounting Reports; Payment of
Royalty. KHK shall keep complete and accurate books and records necessary for DICERNA to ascertain and to verify all payments owed by KHK hereunder. KHK will make royalty payments to DICERNA for Licensed Products sold by KHK, its Affiliates
and Sublicensees during [***]. Each royalty payment will be accompanied by a written report for that [***] showing (a) the Net Sales of the Licensed Products sold by KHK, its Affiliates and Sublicensees during the [***] and the calculation of
the royalties payable under this Agreement; (b) the basis for any deductions from gross amounts billed or invoiced to determine Net Sales; (c) the applicable royalty rates for such Licensed Product; (d) the exchange rates used in
calculating any of the foregoing; and (e) a calculation of the amount of royalty due to DICERNA. 
 7.9 Audit
Rights. Upon the written request of DICERNA, and not more than once in each Calendar Year, KHK will permit DICERNA’s independent certified public accountant to have access during normal business hours to such of the records of KHK as
may be reasonably necessary to verify the accuracy of the royalty reports hereunder for the current year and the preceding [***] prior to the date of such request. The independent certified public accountant shall keep confidential any information
obtained during such inspection and shall report to DICERNA only the amounts of Net Sales and royalties due and payable. Upon the expiration of [***] following the end of any Calendar Year, the calculation of royalties payable with respect to such
year will be binding and conclusive upon DICERNA, and KHK and its Affiliates and Sublicensees will be released from any liability or accountability with respect to royalties for such Calendar Year. If such accounting firm concludes that additional
royalties were owed, or that KHK overpaid royalties, during such period, KHK will pay the additional royalties, or DICERNA shall return any overpaid royalties, within [***] of the date DICERNA delivers to KHK such accounting firm’s written
report. The fees charged by such accounting firm will be paid by DICERNA unless the additional royalties owed by KHK exceed [***] percent ([***]%) of the royalties paid for the royalty period subject to the audit, in which case KHK will pay the
reasonable fees of the accounting firm. KHK will include in each sublicense 

  
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granted by it pursuant to this Agreement a provision requiring the Sublicensee to make reports to KHK, to keep and maintain records of sales made pursuant to such sublicense and to grant access
to such records by a mutually-agreed upon independent accountant to the same extent required of KHK under this Agreement. DICERNA will treat all financial information subject to review under this Section 7.9 or under any sublicense agreement in
accordance with the confidentiality provisions of this Agreement, and will use reasonable effort to cause its accounting firm to enter into a reasonably acceptable confidentiality agreement with KHK obligating it to retain all such financial
information in confidence pursuant to such confidentiality agreement. 
 7.10 Payments. All payments to a Party under
this Agreement will be made in United States Dollars by bank wire transfer of same day funds to such bank account as designated in writing by the other Party from time to time. Each Party will pay a late payment service charge of [***]% per [***]
(or the highest amount allowed by law, if lower than [***]% per [***]) on all past-due amounts owed by such Party under this Agreement. 

7.11 Income Tax Withholding. Each Party will be responsible for its own tax liabilities resulting from the payments
received from the other Party under this Agreement. If laws, rules or regulations require withholding of income taxes or other taxes imposed upon payments set forth in this Article 7, the paying Party will make such withholding payments to the
governmental authorities as required and subtract such withholding payments from the payments set forth in this Article 7. The paying Party will submit appropriate proof of payment of the withholding taxes to the other Party within a reasonable
period of time. The Parties will cooperate reasonably in completing and filing documents required under the provisions of any applicable tax laws or under any other Applicable Laws, in connection with the making of any required tax payment or
withholding payment, or in connection with any claim to a refund of or credit for any such payment. The Parties will cooperate to minimize such withholding taxes in accordance with Applicable Laws. 

7.12 Foreign Currency Exchange. If, in any Calendar Quarter, Net Sales are made in any currency other than United States
Dollars, such Net Sales shall be converted into United States Dollars as follows: 
 (A/B), where 

A = foreign “Net Sales” (as defined above) in such Calendar Quarter expressed in such foreign currency; and 

B = foreign exchange conversion rate, expressed in local currency of the foreign country per United States Dollar (using, as the applicable
foreign exchange rate, [***]. 

  
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 ARTICLE 8 

CONFIDENTIALITY 
 8.1
Nondisclosure and Nonuse Obligations. All Confidential Information disclosed by a Disclosing Party to a Receiving Party hereunder will be maintained in confidence and will not be disclosed to any Third Party or used by the Receiving
Party for any purpose except as expressly permitted herein without the prior written consent of the Disclosing Party. Notwithstanding the foregoing, (a) either Party may disclose data generated during the Research Collaboration to such
Party’s employees who are subject to obligations of confidentiality and non-use with respect to such data no less restrictive than the obligations of confidentiality and non-use of the Receiving Party pursuant to this Article 8 and (b) the
Parties shall generally have free use of data generated and shared during the Research Collaboration for purposes relating to the development and commercialization of the Licensed Product and other activities related to their obligations arising
under this Agreement. For purposes of clarity, neither Party may use the Confidential Information of the other Party for internal research or development purposes other than for activities directly related to their obligations arising under this
Agreement. 
 8.2 Permitted Disclosure of Confidential Information. 

8.2.1 Permitted Disclosures. Notwithstanding Section 8.1, a Receiving Party may disclose Confidential Information of the
Disclosing Party: 
 (a) to appropriate U.S. and/or foreign tax authorities, to appropriate patent agencies in order to obtain and
prosecute Patent Rights pursuant to this Agreement, to appropriate Regulatory Authorities to gain approval to conduct clinical trials, obtain Registrations or to market Licensed Products pursuant to this Agreement; provided, that, any such
disclosure may be only to the extent reasonably necessary to obtain such Patent Rights or authorizations; 
 (b) if required by any
governmental authority other than under Section 8.2.1; provided, that, prior to such disclosure, the Party subject to the request for such disclosure (the “Notifying Party”) promptly notifies the other
Party of such requirement so that such other Party may seek a protective order or other appropriate remedy; and provided, further, that, in the event that no such protective order or other remedy is obtained, or that such other Party waives
compliance with this Article 8, the Notifying Party will furnish only that portion of the other Party’s Confidential Information that it is advised by counsel it is legally required to furnish and will exercise all reasonable efforts to
obtain reasonable assurance that confidential treatment will be accorded the other Party’s Confidential Information so furnished; 

  
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 (c) by a Party to its permitted sublicensees, agents, consultants, Affiliates and/or other
Third Parties for the research and development, manufacturing and/or marketing of Licensed Products (or for such Parties to determine their interest in performing such activities) in accordance with this Agreement on the condition that such
Affiliates and Third Parties agree to be bound by the confidentiality and non-use obligations contained in this Agreement; or 
 (d) if
required to be disclosed by law or court order; provided, that, notice is promptly delivered to the non-disclosing Party in order to provide an opportunity to challenge or limit the disclosure obligations. 

8.2.2 Additional Permitted Disclosures. In addition to the disclosures permitted under Section 8.2.1 above, DICERNA and KHK
each agrees that the Receiving Party may disclose the Confidential Information of the Disclosing Party (including the terms of this Agreement) (a) on a need-to-know basis to such Disclosing Party’s legal and financial advisors; (b) as
reasonably necessary in connection with an actual or potential (i) permitted sublicense of such Receiving Party’s rights hereunder, (ii) Third Party collaborators or licensees, or debt or equity financing of such Receiving Party,
subject in each case to written obligations of confidentiality substantially similar to those of the Parties hereunder, or (iii) merger or sale of all or substantially all of the Receiving Party’s business unit to which this Agreement
relates or in the event of the merger or consolidation or similar change of control involving such Receiving Party; (c) to any Third Party that is or may be engaged by the Receiving Party to perform services in connection with the Research
Collaboration; and (d) for any other purpose with the Disclosing Party’s written consent, not to be unreasonably withheld, conditioned or delayed. 

ARTICLE 9 
 DISCLAIMERS,
REPRESENTATIONS, WARRANTIES AND 
 INDEMNIFICATIONS 

9.1 KHK Representations and Warranties. KHK represents and warrants to DICERNA as follows: 

9.1.1 Corporate Existence and Authority. As of the Effective Date, KHK: (a) is a corporation duly organized, validly
existing and in good standing under the laws of Japan, (b) has full corporate power and authority and the legal right to own and operate its 

  
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property and assets and to carry on its business as it is now being conducted and as contemplated in this Agreement, including the right to grant the options to license and licenses granted
hereunder, (c) has the corporate power and authority and the legal right to enter into this Agreement and perform its obligations hereunder, (d) has taken all necessary corporate action on its part required to authorize the execution and
delivery of this Agreement and the performance of its obligations hereunder, and (e) has delivered this Agreement that has been duly executed and this Agreement constitutes a legal, valid, binding obligation of KHK and is enforceable against it
in accordance with its terms. 
 9.1.2 Patents. As of the Effective Date and to the best of KHK’s Knowledge, it
has the sufficient legal and/or beneficial title and ownership under the KHK Technology as is necessary to fulfill its obligations under this Agreement and to grant the licenses to DICERNA pursuant to this Agreement. KHK is not aware of any
communications alleging that it has violated or, by conducting its business as currently proposed under this Agreement, would violate any of the intellectual property rights of any Third Party. 

9.1.3 Absence of Litigation, Infringement, Misappropriation. As of the Effective Date and to the best of KHK’s Knowledge,
there is no pending or threatened litigation (and KHK has not received any communication relating thereto) which alleges that KHK’s activities under this Agreement would infringe or misappropriate any intellectual property rights of any Third
Party. To the best of KHK’s Knowledge, there is no material unauthorized use, infringement or misappropriation of any of its intellectual property rights that are the subject of the licenses or options to license granted hereunder. 

9.1.4 Full Disclosures. KHK has provided DICERNA with all information that DICERNA has requested for deciding the merits of
entering into this Agreement. 
 9.1.5 Employee Obligations. All KHK employees who will conduct research under this Agreement
have legal obligations requiring assignment to KHK of all inventions made in the course of and as a result of their association with KHK and obligating the individual to maintain as confidential the Confidential Information of KHK, as well as the
Confidential Information of DICERNA which KHK may receive. 
 9.1.6 Compliance with Laws. In carrying out its work under this
Agreement, all KHK work shall be carried out in compliance with any Applicable Laws including, without limitation, federal, state, or local laws, regulations, or guidelines governing the work at the site where such work is being conducted. Moreover,
KHK will carry out all work under the Research Collaboration in accordance with current Good Laboratory Practices, Good Clinical Practices, and Good Manufacturing Practices, if applicable, based on the specific work to be conducted. 

  
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 9.1.7 No Debarment. Neither KHK nor any of its Affiliates has been debarred or
is subject to debarment. During the Term, KHK and its Affiliates will use Commercially Reasonable Efforts to avoid using in any capacity, in connection with the development, manufacture or commercialization of any Research Compound or Licensed
Product, any person who, to KHK’s Knowledge has been debarred pursuant to Section 306 (or comparable law or regulation) of the FDCA, or who to KHK’s Knowledge is the subject of a conviction described in such section. KHK agrees to
inform DICERNA in writing immediately if it or any person who is performing services hereunder is debarred or is the subject of a conviction described in Section 306 (or comparable law or regulation), or if any action, suit, claim,
investigation or legal or administrative proceeding is pending or, to the best of KHK’s Knowledge, is threatened, relating to the debarment or conviction of KHK or any person used in any capacity by KHK or any of its Affiliates in connection
with the development, manufacture or commercialization of any Research Compound or Licensed Product. 
 9.2 DICERNA Representations
and Warranties. DICERNA represents and warrants to KHK as follows: 
 9.2.1 Corporate Existence and Authority. As of
the Effective Date, DICERNA: (a) is a corporation duly organized, validly existing and in good standing under the laws of the state in which it is incorporated, (b) has full corporate power and authority and the legal right to own and
operate its property and assets and to carry on its business as it is now being conducted and as contemplated in this Agreement, including the right to grant the options to license and licenses granted hereunder, (c) has the corporate power and
authority and the legal right to enter into this Agreement and perform its obligations hereunder, (d) has taken all necessary corporate action on its part required to authorize the execution and delivery of this Agreement and the performance of
its obligations hereunder, and (e) has delivered this Agreement that has been duly executed and this Agreement constitutes a legal, valid, binding obligation of DICERNA and is enforceable against it in accordance with its terms; 

9.2.2 Patents. As of the Effective Date and to the best of DICERNA’s Knowledge, it has the sufficient legal and/or
beneficial title and ownership under the DICERNA Technology as is necessary to fulfill its obligations under this Agreement and to grant the licenses and options to license to KHK pursuant to this Agreement. DICERNA has no Knowledge of any
communications alleging that it has violated or, by conducting its business as currently proposed under this Agreement, would violate any of the intellectual property rights of any Third Party. 

  
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 9.2.3 Absence of Litigation, Infringement, Misappropriation. As of the
Effective Date and to the best of DICERNA’s Knowledge, there is no pending or threatened litigation (and DICERNA has not received any communication relating thereto) which alleges that DICERNA’s activities under this Agreement would
infringe or misappropriate any intellectual property rights of any Third Party. To the best of DICERNA’s Knowledge, there is no material unauthorized use, infringement or misappropriation by any Third Party of any of DICERNA’s intellectual
property rights that are the subject of the licenses or options to license granted to KHK hereunder. 
 9.2.4 Full
Disclosures. DICERNA has provided KHK with all information that KHK has requested for deciding the merits of entering into this Agreement. 

9.2.5 Employee Obligations. All DICERNA personnel who will conduct research under this Agreement have legal obligations
requiring assignment to DICERNA of all inventions made in the course of and as a result of their association with DICERNA and obligating the individual to maintain as confidential the Confidential Information of DICERNA, as well as the Confidential
Information of KHK which DICERNA may receive; 
 9.2.6 Compliance with Laws. In carrying out its work under this Agreement,
all DICERNA work shall be carried out in compliance with any Applicable Laws including, without limitation, federal, state, or local laws, regulations, or guidelines governing the work at the site where such work is being conducted. Moreover,
DICERNA will carry out all work under the Research Collaboration in accordance with current Good Laboratory Practices, Good Clinical Practices, Good Manufacturing Practices, if applicable based on the specific work to be conducted. 

9.2.7 Licenses. DICERNA has not taken not will it take any action which would, in DICERNA’s good faith judgment, interfere
with any obligations of DICERNA set forth in this Agreement, including but not limited to the obligation to grant KHK the licenses and options to license hereunder. 

9.2.8 No Debarment. Neither DICERNA nor any of its Affiliates has been debarred or is subject to debarment. During the Term,
DICERNA and its Affiliates will use Commercially Reasonable Efforts to avoid using in any capacity, in connection with the development, manufacture or commercialization of any Research Compound or Licensed Product, any person who, to DICERNA’s
Knowledge has been debarred pursuant to Section 306 

  
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(or comparable law or regulation) of the FDCA, or who to DICERNA’s Knowledge is the subject of a conviction described in such section. DICERNA agrees to inform KHK in writing immediately if
it or any person who is performing services hereunder is debarred or is the subject of a conviction described in Section 306 (or comparable law or regulation), or if any action, suit, claim, investigation or legal or administrative proceeding
is pending or, to the best of DICERNA’s Knowledge, is threatened, relating to the debarment or conviction of DICERNA or any person used in any capacity by DICERNA or any of its Affiliates in connection with the development, manufacture or
commercialization of any Research Compound or Licensed Product. 
 9.3 Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN
THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY TO THE OTHER PARTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Without
limiting the generality of the foregoing, each Party expressly does not warrant (a) the success of any research undertaken in the course of the Research Collaboration or (b) the safety for any purpose of the technology it provides
hereunder. 
 9.4 Responsibility and Control. DICERNA and KHK shall each be solely responsible for the safety of
their respective employees, agents, licensees or sublicensees with respect to efforts employed under this Agreement and each shall hold the other harmless with regard to any liability for damages or personal injuries resulting from acts of its
respective employees, agents, licensees or sublicensees. 
 9.5 KHK’s Right to Indemnification. DICERNA
shall indemnify each of KHK, its Affiliates, Sublicensees, permitted successors and assigns, and the directors, officers, employees, agents and counsel thereof (the “KHK Indemnitees”), and defend and hold each KHK Indemnitee
harmless from and against any and all liabilities, damages, losses, settlements, claims, actions, suits, penalties, fines, costs or expenses (including, without limitation reasonable attorneys’ fees) (any of the foregoing,
“Damages”) incurred by or asserted against any KHK Indemnitee of whatever kind or nature, including, without limitation, any claim or liability based upon negligence, warranty, strict liability, or violation of government
regulation but only to the extent arising from or occurring as a result of a claim or demand made by a Third Party (a “Third Party Claim”) against any KHK Indemnitee arising because of: (a) the breach of any
representation or warranty made by DICERNA pursuant to this Article 9; (b) any material breach of this Agreement by DICERNA; (c) the manufacture, use, handling, storage, sale or other disposition of a Co-Promoted Product that is sold
by 

  
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DICERNA, its Affiliates, agents or sublicensees; or (d) the gross negligence or willful misconduct of DICERNA except, in each such case in subparagraphs (a) through (d) above, for
any Damages for which KHK or any of its Affiliates has an obligation to indemnify DICERNA Indemnitees pursuant to Section 9.6, as to which Third Party Claim or Damages each Party will indemnify the other to the extent of their respective
liability for such Damages. 
 9.6 DICERNA’s Right to Indemnification. KHK shall indemnify each of DICERNA, its
Affiliates, sublicensees, successors and assigns, and the directors, officers, employees, agents and counsel thereof (the “DICERNA Indemnitees”), and defend and hold each DICERNA Indemnitee harmless from and
against any and all Damages incurred by or asserted against any DICERNA Indemnitee of whatever kind or nature, including, without limitation, any claim or liability based upon negligence, warranty, strict liability, violation of government
regulation but only to the extent arising from or occurring as a result of a Third Party Claim against any DICERNA Indemnitee arising because of: (a) the breach of any representation or warranty made by KHK pursuant to this Article 9;
(b) any material breach of this Agreement by KHK; (c) the development, manufacture, use, handling, storage, sale or other disposition of any Licensed Product that is sold by KHK, its Affiliates, agents or Sublicensees; or (d) the
gross negligence or willful misconduct of KHK except, in each such case in subparagraphs (a) through (d) above, for any Damages for which DICERNA or any of its Affiliates has an obligation to indemnify KHK Indemnitees pursuant to
Section 9.5, as to which Third Party Claim or Damages each Party will indemnify the other to the extent of their respective liability for such Damages. 

9.7 Indemnification Procedures. Promptly after a Party entitled to indemnification under Section 9.5 or 9.6 (an
“Indemnitee”) receives notice of any pending or threatened claim against it (an “Action”), such Indemnitee shall give written notice to the Party to whom the Indemnitee is entitled to look for
indemnification pursuant to Section 9.5 or 9.6, as applicable (the “Indemnifying Party”), of the commencement thereof; provided, that, the failure so to notify the Indemnifying Party shall not relieve it of any liability
that it may have to any Indemnitee hereunder, except to the extent the Indemnifying Party demonstrates that it is prejudiced thereby. In case any Action that is subject to indemnification under this Article 9, shall be brought against an
Indemnitee and it shall give written notice to the Indemnifying Party of the commencement thereof, the Indemnifying Party shall be entitled to participate therein and, if it so desires, to assume the defense thereof with counsel reasonably
satisfactory to such Indemnitee and, after notice from the Indemnifying Party to the Indemnitee of its election to assume the defense thereof, the Indemnifying Party shall not be liable to such Indemnitee under this Article 9 for any fees of
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than reasonable costs of investigation. Notwithstanding an Indemnifying Party’s election to assume the defense of any such Action that is subject to indemnification under this
Article 9, the Indemnitee shall have the right to employ separate counsel and to participate in the defense of such Action, and the Indemnifying Party shall bear the reasonable fees, costs and expenses of such separate counsel if: (a) the
use of counsel chosen by the Indemnifying Party to represent the Indemnitee would present such counsel with a conflict of interest; (b) the actual or potential defendants in, or targets of, any such Action include both the Indemnifying Party
and the Indemnitee, and the Indemnitee shall have reasonably concluded that there may be legal defenses available to it which are different from or additional to those available to the Indemnifying Party (in which case the Indemnifying Party shall
not have the right to assume the defense of such Action on the Indemnitee’s behalf); (c) the Indemnifying Party shall not have employed counsel satisfactory to the Indemnitee to represent the Indemnitee within a reasonable time after
notice of the institution of such Action; or (d) the Indemnifying Party shall authorize the Indemnitee to employ separate counsel at the Indemnifying Party’s expense. If an Indemnifying Party assumes the defense of such Action, no
compromise or settlement thereof may be effected by the Indemnifying Party without the Indemnitee’s written consent, which consent shall not be unreasonably withheld or delayed, unless (1) there is no finding or admission of any violation
of law or any violation of the rights of any other Party and no effect on any other claims that may be made against the Indemnitee and (2) the sole relief provided is monetary damages that are paid in full by the Indemnifying Party. 

9.8 Insurance. Not later than [***] before the date on which KHK or any Affiliate or Sublicensee of KHK shall, on a commercial
basis, make, use, or sell any Licensed Products, KHK will, at its expense, obtain and maintain in full force and effect product liability insurance with a minimum coverage of $[***] per occurrence and $[***] annual aggregate. Upon request of
DICERNA, such insurance shall name DICERNA as an additional insured and shall provide for at least [***] notice to DICERNA of any cancellation or termination; provided, that, DICERNA shall reimburse KHK for any additional insurance fee incurred by
KHK for inclusion of DICERNA as an additional insured. 
 ARTICLE 10 

INTELLECTUAL PROPERTY 

10.1 Disclosures and Reports. During the Term, each Party shall promptly disclose to the other in writing all Program
Technology generated by such Party, which disclosure shall be in sufficient detail to permit the other Party to employ such Program Technology as provided herein. Within [***] of the termination or expiration of this Agreement, each Party shall
provide the other Party with a comprehensive final written report with respect to the Program Technology generated by such Party under this Agreement. 

  
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 10.2 DICERNA Program Technology. DICERNA shall solely own all DICERNA Program
Technology and have the sole right to exploit such DICERNA Program Technology. KHK shall assign to DICERNA all of its rights to any such DICERNA Program Technology in which it has inventorship, and DICERNA shall and hereby does grant to KHK a
royalty-free, fully paid license to use such DICERNA Program Technology solely to the extent necessary for KHK to perform its obligations under this Agreement. 

10.3 KHK Program Technology. KHK shall solely own all KHK Program Technology and have the sole right to exploit such KHK Program
Technology. DICERNA shall assign to KHK all of its rights to any such KHK Program Technology in which it has inventorship, and KHK shall and hereby does grant to DICERNA a royalty-free, fully paid license to use any such KHK Program Technology
solely to the extent necessary for DICERNA to perform its obligations under this Agreement. 
 10.4 Joint Technology and Joint Patent
Rights. DICERNA and KHK shall jointly own all Joint Technology and Joint Patent Rights. Notwithstanding anything to the contrary contained herein or under Applicable Laws, subject to the licenses granted by each Party to the other Party
pursuant to this Agreement and except to the extent set forth in Article 8, the Parties hereby agree that any information and data contained in the Joint Technology shall be kept confidential until the relevant Joint Patent Right is filed or the
Parties determine not to file such Joint Patent Right, and thereafter, either Party may use or license or sublicense to Affiliates or Third Parties all or any portion of its interest in Joint Technology or Joint Patent Rights for any purposes inside
or outside of this Agreement, without the prior written consent of the other Party, without restriction and without the obligation to provide compensation to the other Party. For purposes of clarity, Article 8 shall not apply to the information or
data contained in the Joint Technology after the termination of this Agreement in any case. 
 10.5 Patent Filing and
Prosecution. 
 10.5.1 Patent Coordinators. Each Party shall appoint a patent coordinator reasonably acceptable to the
other Party (each, a “Patent Coordinator”) to serve as such Party’s primary liaison with the other Party on matters relating to patent filing, prosecution, maintenance and enforcement under this Agreement.
Each Party may replace its Patent Coordinator at any time by notice in writing to the other Party. 

  
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 10.5.2 Characterization of Program Technology. DICERNA and KHK shall discuss
and attempt to resolve in good faith on a case by case basis as to how all Program Technology made in the conduct of the Research Collaboration should be categorized (i.e., whether it should be characterized as DICERNA Program Technology, KHK
Program Technology or Joint Technology). If DICERNA and KHK are unable to agree upon the appropriate proper categorization of Program Technology, the Parties may jointly appoint a neutral patent expert (patent counsel who (and whose firm) is not at
the time of the dispute, and was not at any time during the [***] prior to such dispute, performing services for either of the Parties) reasonably acceptable to the Parties to mediate their discussions and help resolve the issue. Any such dispute
shall be resolved according to U.S. patent law. The Parties shall share the costs and expenses of any such neutral patent expert. 
 10.5.3
Joint Patent Rights. The Parties will determine which Party will undertake the preparation, filing, prosecution, maintenance and enforcement of Joint Patent Rights based on the respective expertise of the Parties. If the Parties fail
to agree, then prosecution of such Joint Patent Rights shall be jointly controlled by the Parties, using patent counsel agreed upon by the Patent Coordinators of both Parties. The patent costs incurred in connection with the preparation, filing,
prosecution, maintenance and enforcement of Joint Patent Rights will be shared equally by the Parties. 
 10.5.4 DICERNA
Filings. DICERNA or City of Hope, as the case may be, shall have sole right, at its sole discretion and at DICERNA’s sole expense, to prepare, file, prosecute, maintain and enforce the DICERNA Background Dicer Substrate Patent Rights,
DICERNA Background DDS Patent Rights, DICERNA KRAS-Specific Patent Rights and DICERNA Program Patent Rights. 
 10.5.5 KHK
Filings. KHK shall have sole right, at its sole discretion and at KHK’s sole expense, to prepare, file, prosecute, maintain and enforce the KHK Background Patent Rights and KHK Program Patent Rights. 

10.5.6 Information and Cooperation. Each filing Party shall (a) discuss with the other Party, through the Patent
Coordinator, the filing of any patent application with respect to any Program Technology; (b) regularly provide the other Party with copies of all patent applications filed hereunder for any Program Technology and other material submissions and
correspondence with the patent offices, in sufficient time to allow for review and comment by the other Party; (c) provide the other Party and its patent counsel with an opportunity to consult with the Party and its patent counsel regarding the
filing and contents of any such application, amendment, submission or response, and the advice and suggestions of the other Party and its patent counsel shall be taken into consideration in good faith by such

  
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Party and its patent counsel in connection with such filing; and (d) execute any documents that may be necessary to perfect the filing Party’s rights in and to any Program Technology
and, in the event that the filing Party is unable for any reason to secure the signature of the other Party to any lawful and necessary document required to perfect its rights in and to any such Program Technology, the other Party hereby designates
the filing Party as its agent, and hereby grants to the filing Party a power of attorney with full power of substitution, which power of attorney shall be deemed coupled with an interest, for the sole purpose of effecting the foregoing. Each filing
Party shall pursue in good faith all reasonable claims requested by the other Party in the prosecution of any Patent Rights under this Section 10.5.6. 

10.5.7 Election Not to File, Prosecute or Maintain. If the responsible Party under this Section 10.5 elects (a) not to
file a patent application claiming any Program Technology in a particular country, or (b) to discontinue prosecution or maintenance of any Patent Right with respect to Program Technology controlled by such Party, that Party (the
“Initial Responsible Party”) shall give [***] advance written notice to the other Party of any decision to cease preparation, filing, prosecution and maintenance of that Patent Right (a “Discontinued
Patent”); provided, however, that abandonment of a patent application in favor of a continuation or a continuation-in-part thereof shall not constitute discontinuance of the patent application. In such case, the other Party may elect at
its sole discretion to continue preparation, filing, prosecution or maintenance of the Discontinued Patent at its sole expense. The Party so continuing shall own any such patent application and patents maturing therefrom and be solely responsible
for all costs, and the Initial Responsible Party shall have a non-exclusive, worldwide, irrevocable, perpetual, fully-paid license to continue to practice such Discontinued Patent, including the right to
sublicense, as provided under this Agreement. In addition, such Party so continuing shall cease to have any obligation to pay royalties to the Initial Responsible Party under this Agreement with respect to the Discontinued Patent. The Initial
Responsible Party shall execute such documents and perform such acts as may be reasonably necessary for the other Party to file or to continue prosecution or maintenance, including assigning ownership of such patents and inventions to such electing
Party. Discontinuance may be on a country-by-country basis or for a patent application or patent series in total. 
 10.5.8 Patent
Term Extensions. The Parties shall cooperate with each other in gaining patent term extension wherever applicable to any Licensed Product. All filings for such extension shall be made by the Party to whom the responsibility for prosecuting
patent is assigned; provided, however, that in the event that the Party to whom the responsibility for such patent is assigned elects not to file for an extension, such Party shall (a) inform the other Party of its intention not to file,
(b) grant the other Party the right to file for such extension, and (c) cooperate as necessary to assist the other Party in filing such extension. 

  
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 10.6 Infringement Claims Against Third Parties. 

10.6.1 Notice. Each Party shall notify the other Party if it becomes aware of a patent
infringement or the like by a Third Party of any Patent Rights the prosecution of which is controlled by a Party covering or relating to a Licensed Product (each, an “Infringement”). The Parties shall mutually discuss what
action to take with respect to such Infringement. 
 10.6.2 DICERNA Right to Enforce. DICERNA or City of Hope,
as the case may be, shall have the first right, but not the obligation, upon written notice to KHK, to take appropriate action to address any such Infringement that involves DICERNA Background Dicer Substrate Patent Rights, DICERNA Background DDS
Patent Rights, DICERNA KRAS-Specific Patent Rights or DICERNA Program Patent Rights by taking reasonable steps, which may include the institution of legal proceedings or other action (an “Action”), and to
compromise or settle such Action; provided, that, (a) DICERNA shall keep KHK fully informed about such Action and KHK shall provide reasonable cooperation to DICERNA in connection with such Action; (b) if neither DICERNA nor City of Hope
intends to prosecute or defend an Action, or ceases to diligently pursue such an Action, DICERNA shall promptly inform KHK in such a manner that such Action will not be prejudiced and Section 10.6.3 shall apply; (c) no settlement with
respect to DICERNA Program Patent Rights or Joint Patent Rights shall be entered into by DICERNA without the prior written consent of KHK if such settlement would reasonably be expected to adversely affect or diminish the rights and benefits of KHK
under this Agreement with respect to the Licensed Products and (d) DICERNA shall not be entitled to settle any such Action granting a license or covenant not to sue under or with respect to DICERNA Program Patent Rights or Joint Patent Rights
that is reasonably likely to directly and adversely affect the scope, validity or enforceability of the KHK Program Patent Rights or that would be inconsistent with the license and other rights granted to KHK hereunder without the prior written
consent of KHK, which consent shall not be unreasonably withheld. All costs, including attorneys’ fees, relating to any such Action undertaken by DICERNA shall be borne by DICERNA. 

10.6.3 KHK Right to Enforce. KHK shall (a) have the first right (but not the obligation, upon written notice to DICERNA, to
take appropriate action to address any Infringement that involves KHK Program Patent Rights and (b) shall have the right, but not the obligation upon written notice to DICERNA, to take appropriate action to address any Action DICERNA determines
not to pursue under Section 10.6.2; provided, that, (i) KHK shall keep DICERNA fully informed about such Action and DICERNA shall provide reasonable 

  
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cooperation to KHK in connection with such Action; (ii) KHK shall not take any position with respect to, or compromise or settle, such Action in any way (including by granting a license or
covenant not to sue) that would reasonably be expected to adversely affect the scope, validity or enforceability of the DICERNA Background Dicer Substrate Patent Rights, DICERNA Background DDS Patent Rights, DICERNA Program Patent Rights or Joint
Patent Rights without DICERNA’s prior written consent, which consent shall not be unreasonably withheld. All costs, including attorneys’ fees, relating to such Action undertaken by KHK shall be borne by KHK. 

10.6.4 Right to Representation. Each Party shall have the right to participate and be represented by counsel that it selects, in
any Action instituted under Section 10.6.2 or 10.6.3 by the other Party. If a Party with the right to initiate an Action under Section 10.6.2 or 10.6.3 to eliminate an Infringement lacks standing to do so and the other Party has standing
to initiate such Action, then the Party with the right to initiate an Action under Section 10.6.2 or 10.6.3 may name the other Party as plaintiff in such Action or may require the Party with standing to initiate such Action at the expense of
the other Party. 
 10.6.5 Cooperation. In any Action instituted under Section 10.6.2 or 10.6.3, the Parties shall
cooperate with and assist each other in all reasonable respects. Upon the reasonable request of the Party instituting such Action, if necessary to maintain such Action, the other Party shall join such Action and shall be represented using counsel of
its own choice, at the requesting Party’s expense. 
 10.6.6 Allocation of Proceeds. Any amounts recovered by either
Party pursuant to Actions under Sections 10.6 with respect to any Infringement, whether by settlement or judgment, shall, after reimbursing KHK and DICERNA (and/or City of Hope, as the case may be) for their reasonable internal costs and
out-of-pocket expenses in making such recovery (which amounts shall be allocated pro rata if insufficient to cover the totality of such expenses), shall, with respect to Licensed Products that are not Co-Promoted Products, be retained by, or paid
to, as applicable, KHK and treated as Net Sales of the Licensed Product affected by the Infringement for purposes of this Agreement and, with respect to Co-Promoted Products, be allocated between the Parties as provided in the Co-Promotion
Agreement. Notwithstanding the foregoing, any recovery obtained by City of Hope as the result of any Action initiated by and paid for City of Hope shall be for the sole benefit of City of Hope. 

10.7 Defense of Infringement Claims. 

10.7.1 Notice. In the event that any action, suit or proceeding is brought against either Party alleging the infringement of the
Technology or Patent Rights of a Third 

  
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Party by reason of or the development or commercialization, including the manufacture, use or sale, of any Licensed Product by or on behalf of KHK or any of its Affiliates or Sublicensees in the
Field and in the Territory, such Party shall notify the other Party within [***] and the Patent Coordinators shall meet as soon as possible to discuss the overall strategy for defense of such matter. 

10.7.2 DICERNA Right. In the event that any action, suit or proceeding brought against either Party or any Affiliate or
Sublicensee (with respect to KHK) or (sub)licensee (with respect to DICERNA) alleges the infringement of the Technology or Patent Rights of a Third Party by reason of the use of DICERNA Background Dicer Substrate Patent Rights or DICERNA Program
Patent Rights as provided in this Agreement (each, a “Dicer Substrate Infringement Action”), DICERNA shall have the right, but not the obligation, to defend such action, suit or proceeding at its sole cost and
expense; and KHK or any of its Affiliates or Sublicensees shall have the right to join with separate counsel at its own expense in any such action, suit or proceeding; and the Parties shall cooperate with each other in all reasonable respects in any
such action, suit or proceeding. 
 10.7.3 KHK Right. In the event that (a) DICERNA informs KHK that it does not intend
to defend any Dicer Substrate Infringement Action as set forth in above Section 10.7.2, or (b) any action, suit or proceeding brought against either Party or any Affiliate or Sublicensee (with respect to KHK) or (sub)licensee (with respect
to DICERNA) alleges the infringement of the Technology or Patent Rights of a Third Party for any reason other than as described in Section 10.7.2: (i) KHK shall have the right, but not the obligation to defend such action, suit or
proceeding; (ii) DICERNA or any of its Affiliates or sublicensees shall have the right to join with separate counsel at its own expense in any such action, suit or proceeding; (iii) the Parties shall cooperate with each other in all
reasonable respects in any such action, suit or proceeding and (iv) to the extent the action, suit or proceeding is a Dicer Substrate Infringement Action, KHK shall have the right to offset [***] percent ([***]%) of all the costs and expenses
incurred by KHK in the defense of such Dicer Substrate Infringement Action against royalties or milestone payment amounts otherwise payable by KHK to DICERNA under this Agreement; provided, that, any payments made pursuant to this
Section 10.7.3 shall be subject to the royalty reduction limitations of Section 7.7.5. 
 10.7.4 In General. Each
Party shall promptly furnish the other Party with a copy of each communication relating to any alleged infringement of any Third Party Technology or Patent Rights as a result or in connection with the development or commercialization of any Licensed
Product in the Field and in the Territory that is received by such Party including all documents filed in any litigation. 

  
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 ARTICLE 11 

TERM AND TERMINATION 

11.1 Term of Research Collaboration. The Research Collaboration shall become effective on the Effective Date and continue
until the expiration of the Research Collaboration Term.  
 11.2 Term of Agreement. This Agreement shall
commence on the Effective Date and shall continue in full force and effect, unless otherwise terminated pursuant to Section 11.2, (a) in the Co-Promotion Territory, if DICERNA has exercised its Co-Promotion Option with respect to a
Licensed Product, for as long as such Co-Promoted Product is being sold by either Party in the Co-Promotion Territory (the “Co-Promotion Term”) and (b) in each country outside of the Co-Promotion Territory,
on Licensed Product by Licensed Product and country by country basis, until the expiration of the applicable Royalty Term in such country. Upon the expiration of the Royalty Term or the Co-Promotion Term, as the case may be, as set forth in this
Section 11.2 on a country by country, Licensed Product by Licensed Product basis, the license rights granted hereunder for such Licensed Product in such country shall be converted to a perpetual, irrevocable and fully paid-up license. 

 11.3 Termination During the Research Collaboration Term. During the Research Collaboration Term, KHK may
terminate this Agreement without cause upon giving DICERNA [***] written notice. 
 11.4 Termination for Breach.
Either Party may terminate this Agreement by notice to the other Party at any time during the Term of this Agreement if the other Party is in material breach of one or more substantial and material obligations hereunder and has not cured such
material breach within [***] after notice requesting cure of the material breach or such longer period of time, not to exceed [***], as is required to cure such material breach as long as the breaching Party is proceeding in good faith to cure;
provided, however, that, in any case when a breach is alleged regarding the payment of money hereunder, the time period will be [***] and undisputed amounts must be paid prior to such time to avoid breach. To the extent that a Party prevails in a
lawsuit brought against the other Party for material breach of this Agreement, such prevailing Party shall be entitled to collect from the other Party reasonable attorneys’ fees and legal costs incurred in connection with such lawsuit. If the
non-breaching Party terminates this Agreement under this Section 11.4 following material breach by the breaching Party, each Party shall return to the other Party all of the other Party’s Confidential Information and all Proprietary
Materials received from the other Party during this Agreement, and each Party shall cease all use of the other Party’s Confidential Information and Proprietary Materials received from the other Party for any purpose except as otherwise
specifically provided herein.  

  
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 11.5 Termination Upon Insolvency. Either Party may terminate this
Agreement upon notice to the other should the other Party become insolvent or file or consent to the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] of
such filing. During the Term of this Agreement, all rights and licenses granted under or pursuant to this Agreement by KHK or DICERNA are, and will otherwise be deemed to be, for purposes of Section 365(n) of the U.S. Bankruptcy Code, licenses
of right to “intellectual property” as defined under Section 101 of the U.S. Bankruptcy Code. The Parties agree that, during the Term of this Agreement, the Parties, as licensees of such rights under this Agreement, will retain and
may fully exercise all of their rights and elections under the U.S. Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding-by or against either Party under the U.S. Bankruptcy Code, the Party
hereto that is not a party to such proceeding will be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, and same, if not already in their
possession, will be promptly delivered to them (a) upon any such commencement of a bankruptcy proceeding upon their written request therefor, unless the Party subject to such proceeding elects to continue to perform all of its obligations under
this Agreement, or (b) if not delivered under (a) above, following the rejection of this Agreement by or on behalf of the Party subject to such proceeding upon written request therefor by the non-subject Party. 

11.6 KHK Termination Without Penalty. After receiving the results of the Research Collaboration, if KHK determines at its sole
discretion not to proceed with the development of any Research Compounds for the Initial Target in accordance with this Agreement, KHK shall have a right to terminate this Agreement without any penalty upon giving DICERNA [***] written notice. 

11.7 DICERNA Termination. Except to the extent the following is unenforceable under the Applicable Laws of a particular
jurisdiction where a patent application with respect to any DICERNA Patent Rights is pending or a patent within any DICERNA Patent Rights is issued, DICERNA may terminate this Agreement immediately upon written notice to KHK in the event that KHK or
any of its Affiliates or Sublicensees Challenges any DICERNA Patent Right or assists a Third Party in initiating a Challenge of any DICERNA Patent Right. 

11.8 Effect of Termination Due to KHK Uncured Breach or KHK Termination Without Cause. If KHK terminates this Agreement
without cause (including under circumstances covered by Section 11.6), or DICERNA terminates this Agreement as a result of KHK’s uncured material breach, the following shall apply: 

(a) all Licensed Products shall be assigned to DICERNA exclusively and KHK shall (i) grant DICERNA licenses under all Patent Rights and
Technology Controlled by KHK solely to the extent necessary to enable DICERNA to continue to develop and commercialize Licensed Products, (ii) provide DICERNA with such data and information (including manufacturing and regulatory information,
and, if appropriate, the right to reference any DMFs) and shall provide to DICERNA copies of all regulatory filings, Drug Approval Applications and Registrations as may be reasonably required to perform the same and (iii) provide DICERNA at
cost, with all supplies of Research Compounds and Licensed Products in the possession of KHK or any Affiliate or contractor of KHK if such stock exists after the period set forth in below Section 11.8.(b); 

  
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 (b) [***] 

(c) all licenses and rights granted by DICERNA to KHK, including all licenses granted to KHK under Article 6, shall immediately terminate and
DICERNA shall no longer be subject to any obligations under Sections 3.9; and 
 (d) each Party shall promptly return all Confidential
Information and Proprietary Materials of the other Party that are not subject to a continuing license hereunder; provided, that, each Party may retain one copy of the Confidential Information of the other Party in its archives solely for the purpose
of establishing the contents thereof and ensuring compliance with its obligations hereunder. 
 11.9 Effect of Termination Due to
DICERNA Uncured Breach. If KHK terminates this Agreement as a result of DICERNA’s uncured material breach, the following shall apply: 

(a) all licenses to DICERNA Background Dicer Substrate Patent Rights, DICERNA Program Patent Rights, and/or DICERNA Background DDS Patent
Rights in effect as of the effective date of such termination shall continue following such termination solely to enable KHK to continue to develop and commercialize Licensed Products being developed and/or commercialized by KHK as of the effective
date of such termination subject to the payment by KHK of any applicable milestone payments and royalty payments under this Agreement; provided, that, [***]; and 

(b) each Party shall promptly return any Confidential Information and Proprietary Materials of the other Party that are not subject to a
continuing license hereunder; 

  
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provided, that, each Party may retain one copy of the Confidential Information of the other Party in its archives solely for the purpose of establishing the contents thereof and ensuring
compliance with its obligations hereunder. 
 11.10 Surviving Provisions. Termination or expiration of this Agreement for any
reason shall be without prejudice to: 
 (a) survival of rights specifically stated in this Agreement to survive; 

(b) the rights and obligations of the Parties provided in Sections 4.3, 7.9, 9.5, 9.6, 9.7, 10.4, 10.5.2, 10.5.3, 11.8, 11.9,11.10, 11.11,
13.4, 13.5, 13.6, and 13.11, and Article 8 (including all other Sections or Articles referenced in any such Section or Article), all of which shall survive such termination except as provided in this Article 11.10; and 

(c) any other rights or remedies provided at law or equity which either Party may otherwise have. 

11.11 Limitation of Liability. No Party shall be liable to another for indirect, incidental, consequential or special
damages, including but not limited to lost profits, arising from or relating to any breach of this Agreement, regardless of any notice of the possibility of such damages. Nothing in this Section is intended to limit or restrict the indemnification
rights or obligations of any Party under Article 9. 
 ARTICLE 12 

PUBLICITY 
 12.1
Disclosure of Agreement. Subject to Section 8.2.2, neither Party to this Agreement may release or disclose any information to any Third Party regarding the terms or existence of this Agreement or the reasons for any termination
hereof, without the prior written consent of the other Party. Without limitation, this prohibition applies to press releases, educational and scientific conferences, quarterly investor updates, promotional materials, governmental filings and
discussions with public officials, the media, security analysts and investors. However, this provision does not apply to any disclosures regarding this Agreement or related information to Regulatory Authorities such as the FDA to the extent required
by Applicable Laws, including requests for a copy of this Agreement or related information by tax authorities. If any Party to this Agreement determines a release of information regarding the existence or terms of this Agreement is required by
Applicable Laws (including releases as may be required to be filed through the Securities Exchange Commission or other government agency), that Party will notify the other Party as soon as practicable and give the other Party as much detail as
possible in relation to the disclosure required and the Parties will cooperate with 

  
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respect to determining what information should actually be released. The Parties have agreed to the wording of a press release in connection with this Agreement as set forth in Schedule 8
attached hereto. Notwithstanding the above, DICERNA shall have the right, at its sole discretion, to issue a press release announcing its receipt of any milestone payment under this Agreement and KHK shall have the right, at its sole discretion, to
issue a press release announcing the subsequent achievement of milestones for clinical and commercial development for Licensed Products. 

12.2 Use of Names, Logos or Symbols. No Party hereto shall use the name, trademarks, logos, physical likeness, employee
names or owner symbol of any other Party for any purpose, including, without limitation, private or public securities placements, without the prior written consent of the affected Party, such consent not to be unreasonably withheld or delayed so
long as such use of name is limited to objective statements of fact, rather than for endorsement purposes. Nothing contained herein shall be construed as granting either Party any rights or license to use any of the other Party’s trademarks or
trade names without separate, express written permission of the owner of such trademark or trade name. 
 12.3
Publication. The Parties acknowledge and agree that scientific lead time is a key element of the value of the research to be performed under this Agreement. In order to ensure that scientific publications are strictly monitored to
prevent any adverse effect of premature publication, the JSC shall establish a procedure for publication review and approval and each Party shall first submit to the other Party an early draft of all such publications, whether they are to be
presented orally or in written form, at least [***] prior to submission for publication. The other Party shall review each such proposed publication in order to avoid the unauthorized disclosure of any Confidential Information and to preserve the
patentability of inventions arising from the research performed in the course of the Research Collaboration. If, within [***] following receipt of an advance copy of a Party’s proposed publication, the other Party informs such Party
(a) that its proposed publication contains the other Party’s Confidential Information, then such Party shall delete such Confidential Information from its proposed publication and/or (b) that its proposed publication contains Program
Technology, the publication of which could be expected to have a material adverse effect on any Program Patent Rights, then such Party shall at the election of the other Party, either (1) delete such Confidential Information from such
Party’s proposed publication or (2) delay such proposed publication sufficiently long to permit the timely preparation and filing of a patent application(s) on the information involved. If, within [***] following receipt of an advance copy
of a Party’s proposed publication, the other Party fails to approve of such Party’s proposed publication, then such proposed publication shall be regarded as denied by the other Party and shall not be published.  

  
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 ARTICLE 13 

MISCELLANEOUS 
 13.1
Force Majeure. No Party will be held liable or responsible to the other Party nor be deemed to have defaulted under or breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement (except payment
obligations) when such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party including, but not limited to, fire, flood, embargo, war, acts of war (whether war be declared or not), insurrection,
riot, civil commotion, act of terrorism, strike, lockout or other labor disturbance, act of God or act, omission or delay in acting by any governmental authority or the other Party. The affected Party will notify the other Party of such force
majeure circumstances as soon as reasonably practical and take reasonable steps to cure or overcome the same and resume performance of its obligations hereunder. 

13.2 Assignment. This Agreement may not be assigned or otherwise transferred, nor, except as expressly provided
hereunder, may any right or obligations hereunder be assigned or transferred, by a Party without the written consent of the other Party; provided, that, either Party may, without such consent, assign this Agreement and its rights and obligations
hereunder to (a) any wholly-owned subsidiary in a manner such that the assignor (if it continues as a separate entity) shall remain liable and responsible for the performance and observance of all its duties and obligations hereunder or
(b) any successor by merger or sale of substantially all of its business unit to which this Agreement relates, or in the event of its merger or consolidation or change in control or similar transaction. This Agreement shall be binding upon the
permitted successors and permitted assigns of the Parties. Any assignment not in accordance with this Section 13.2 shall be void. 

13.3 Severability. In the event that any of the provisions contained in this Agreement are held invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein will not in any way be affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affect the
substantive rights of the Parties. The Parties will replace the invalid, illegal or unenforceable provision(s) with valid, legal and enforceable provision(s), which, insofar as practical, implement the purposes of this Agreement. 

13.4 Notices. All notices or other communications which are required or permitted hereunder will be in writing and deemed to be
effective (a) on the date of delivery if delivered in person and written confirmation of delivery is provided, (b) on the date sent by facsimile or other electronic transmission, provided such receipt is verified, (c) on the day
following date of deposit with an overnight courier if a receipt confirming delivery by overnight courier is 

  
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provided, or (d) three (3) days after mailing if mailed by first-class certified mail, postage paid, to the respective addresses given below, or to another address as it will designate
by written notice given to the other Party. 
 If to KHK, to: 

Kyowa Hakko Kirin Co. Ltd. 

1-6-1, Ohtemachi, 
 Chiyoda-ku,
Tokyo, 
 100-8185 Japan 

Attention: Director, Business Development Department 

If to DICERNA, to: 
 480 Arsenal
Street 
 Building 1, Suite 120 

Watertown, MA 02472 
 Attention:
Martin D. Williams, Chief Business Officer 
 with a copy to: 

Mintz, Levin, Cohn, Ferris & Popeo, P.C. 

One Financial Center 
 Boston, MA
02111 
 Attention: John J. Cheney, Esq. 

13.5 Dispute Resolution. 

13.5.1 Disputes. In the event of any controversy or claim arising from or relating to any provision of this Agreement, or any
term or condition hereof, or the performance by a Party of its obligations hereunder, or its construction or its actual or alleged breach, the Parties will try to settle their differences amicably between themselves. All unresolved disputes arising
under or related to this Agreement shall be submitted to final and binding arbitration under the commercial arbitration rules of the International Chamber of Commerce (the “ICC”). The site of arbitration shall be Tokyo, if
KHK is the respondent, and Boston, if DICERNA is the respondent. The panel of arbitrators will be comprised of one arbitrator chosen by KHK, one by DICERNA and the third by the two so chosen. If either, or both, of KHK or DICERNA fails to choose an
arbitrator or arbitrators within [***] after receiving notice of commencement of arbitration or if the two arbitrators fail to choose a third arbitrator [***] after their appointment, then either or both Parties shall immediately request that the
ICC select the remaining number of arbitrators to be selected, which arbitrator(s) shall have the requisite scientific background, experience and expertise. 

  
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 13.5.2 Additional Procedures. Either Party may apply to the arbitrators for
interim injunctive relief until the arbitration decision is rendered or the dispute is otherwise resolved. Either Party also may, without waiving any right or remedy under this Agreement, seek from any court having jurisdiction any injunctive or
provisional relief necessary to protect the rights or property of that Party pending resolution of the dispute pursuant to this Section 13.5. The arbitrators shall have no authority to award punitive or any other type of damages not measured by
a Party’s compensatory damages. Each Party shall bear its own costs and expenses and attorneys’ fees in connection with any such arbitration; provided, that, the non-prevailing Party shall pay the costs and expenses incurred by the
prevailing Party in connection with any such arbitration, including reasonable attorneys’ fees and costs. 
 13.5.3
Non-Disclosure. Except to the extent necessary to confirm an award or decision or as may be required by Applicable Laws, neither Party nor any arbitrator may disclose the existence or results of any arbitration without the prior
written consent of both Parties. In no event shall any arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute would be barred by the applicable New York statute of limitations. 

13.5.4 Termination of Agreement. In the event of a dispute involving the alleged breach of this Agreement (including, without
limitation, whether a Party has satisfied its diligence obligations hereunder), neither Party may terminate this Agreement until resolution of the dispute pursuant to this Section 13.5. 

13.5.5 Decision of Arbitrators. The decision of the arbitrators shall be the sole, exclusive and binding remedy between the
Parties regarding the determination of all disputes presented. Any monetary payment to be made by a Party pursuant to a decision of the arbitrators shall be made in United States dollars, free of any tax or other deduction. 

13.6 Choice of Law. This Agreement will be governed by and construed in accordance with the laws of the State of New York and
the United States without reference to any rules of conflict of laws. 
 13.7 Entire Agreement. This Agreement (including all
Schedules and Exhibits hereto) constitutes the entire agreement between the Parties with respect to the subject matter hereof, and supersedes all previous arrangements with respect to the subject matter hereof, whether written or oral. Any amendment
or modification to this Agreement shall be made in writing signed by both Parties. In the event of any conflict between the terms of this Agreement and the Research Collaboration Plan, the terms of this Agreement shall govern. 

  
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 13.8 Headings. The captions to the several Articles and Sections hereof
are not a part of the Agreement, but are merely guides or labels to assist in locating and reading the several Articles and Sections hereof. 

13.9 Independent Contractors. It is expressly agreed that the Parties will be independent contractors and that the
relationship between the Parties will not constitute a partnership, joint venture or agency. No Party will have the authority to make any statements, representations or commitments of any kind, or to take any action, which will be binding on the
other Parties, without the prior consent of such other Parties. Members of the JSC and the JRC shall be and shall remain employees of KHK or DICERNA as the case may be. DICERNA shall not incur any liability for any act or failure to act by employees
of KHK, including members of the JSC or JRC who are employees of KHK. KHK shall not incur any liability for any act or failure to act by employees of DICERNA, including members of the JSC or JRC who are employees of DICERNA. 

13.10 Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments, and to do all such
other acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement.  
 13.11
Special Covenant: City of Hope. [***]. 
 13.12 Waiver. The waiver by a Party hereto of any right
hereunder or the failure to perform or of a breach by another Party will not be deemed a waiver of any other right hereunder or of any other breach or failure by said other Party whether of a similar nature or otherwise. 

13.13 Jointly Prepared. This Agreement has been prepared jointly and shall not be strictly construed against either
Party. 
 13.14 Purposes and Scope. The Parties hereto understand and agree that the Research Collaboration is
limited to the activities, rights and obligations as set forth in this Agreement. Nothing in this Agreement shall be construed (a) to create or imply a general partnership between the Parties, (b) to make either Party the agent of the
other for any purpose, (c) to alter, amend, supersede or vitiate any other arrangements between the Parties with respect to any subject matters not covered hereunder, (d) to give either Party the right to bind the other, (e) to create
any duties or obligations between the Parties except as expressly set forth herein, or (f) to grant any direct or implied licenses or any other right other than as expressly set forth herein. 

  
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 13.15 Counterparts. This Agreement may be executed in two or more
counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument. 

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 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first set
forth above. 
  

									
	DICERNA PHARMACEUTICALS, INC.	 		 	KYOWA HAKKO KIRIN CO. LTD.
					
	By:	 	 /s/ James C. Jenson
	 		 	By:	 	[***]
	Name:	 	 James C. Jenson
	 		 	Name:	 	[***]
	Title:	 	 President and CEO
	 		 	Title:	 	[***]

  
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 SCHEDULE 2-A 

DICERNA BACKGROUND DDS PATENT RIGHTS 
  

													
	Title	  	Filing Date	  	Priority
Date	  	Application
Serial
Number	  	Status	  	Assignee	  	Earliest
Expiry

 [***] 

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 SCHEDULE 2-A (Continued) 

 

													
	Title	  	Filing
Date	  	Priority
Date	  	Application
Serial
Number	  	Status	  	Assignee	  	Earliest
Expiry

 [***] 

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 SCHEDULE 2-B 

DICERNA BACKGROUND DICER SUBSTRATE PATENT RIGHTS 
  

															
	Title	  	Country	  	Application
Number	  	Filing Date	  	Priority
Date	  	Earliest
Expiry	  	Status	  	Assignee

 [***] 

  

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	Title	  	Country	  	Application
Number	  	Filing
Date	  	Priority
Date	  	Earliest
Expiry	  	Status	  	Assignee

 [***] 

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	Title	  	Country	  	Application
Number	  	Filing
Date	  	Priority
Date	  	Earliest
Expiry	  	Status	  	Assignee

 [***] 

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	Title	  	Country	  	Application
Number	  	Filing
Date	  	Priority
Date	  	Earliest
Expiry	  	Status	  	Assignee

 [***] 

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 SCHEDULE 2-C 

DICERNA KRAS PATENT RIGHTS 

[***] 

  

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 SCHEDULE 3-A 

IN VIVO RESEARCH COMPOUND SELECTION CRITERIA 

[***] 

  

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 SCHEDULE 3-B 

IN VITRO TARGET SELECTION CRITERIA 

[***] 

  

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 SCHEDULE 3-C 

DEVELOPMENT CRITERIA 

[***] 

  

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 SCHEDULE 4 

KHK BACKGROUND PATENT RIGHTS 

[***] 

  

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 SCHEDULE 5-A 

PROGRAM TARGET LIST 
 1. KRAS 

KRAS Gene and its encoded protein including wild type, oncogenic mutant, and alternative spliced isoforms (K-rasA and K-rasB). 

“KRAS Gene” means the gene identified as follows: [***]. 

  

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 SCHEDULE 5-B 

[***] TARGET LIST 

[***] 

  

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 SCHEDULE 7 

MATERIAL TERMS TO BE INCLUDED IN 

FORM OF CO-PROMOTION AGREEMENT 

1. Co-Promotion Period 
 For as long as Co-Promoted
Products are sold in the Co-Promotion Territory. 
 2. Respective Share of Promotion Efforts 

Fifty/Fifty (50/50) share of total Detailing activity to be contributed by each Party. [***] “Detail” means, with respect to a Co-Promoted
Product, [***]. When used as a verb, “Detailing” means performing Details and when used as an adjective, “Detailing” means of or related to performing Details. 

3. Sub-License 
 [***] 

4. IND/NDA 
 KHK to have sole responsibility and authority
over submission of IND/NDA for the Licensed Product, and KHK shall be the holder of FDA marketing approval. 
 5. Product Manufacture 

KHK shall have sole responsibility and authority regarding manufacture of the Licensed Product. KHK shall be entitled to [***]. 

6. Booking of Sales 
 All sales of the Licensed Product in
the US shall be booked as sales by KHK. 
 7. Distribution/Logistics 

KHK to handle arrangement of distribution channels and logistics. 

8. Setting and Management of Product Price 
 9. Reports

 KHK shall provide [***] sales reports to DICERNA. 

  

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 10. Profit Calculation Method 

[***].  
 11. Adverse Event Reporting 

KHK shall prepare, maintain and manage data base. [***]. 
 12.
Governance 
 A Joint Marketing Committee (JMC) will be established to (a) monitor the progress of Co-Promotion of Co-Promoted
Products; (b) review and circulate to the Parties data, reports or other information submitted by either Party with respect to the Co-Promotion of Co-Promoted Products; (c) reconcile issues between the Parties with respect to the
Parties’ respective share of profit (loss) with respect to Co-Promoted Products; (d) prepare or direct the preparation by the Parties of short-term and long-term sales forecasts for Co-Promoted Products; (e) determine appropriate
Co-Promotion target audience for sales force staffing and territory mapping purposes, determining the appropriate level for, and allocation of Co-Promotion activities to, each Party and coordinating the conduct of sales calls and sales training of
both Parties with respect to Co-Promoted Products. KHK shall handle any filings, reports, negotiations with regulatory authorities. [***]. 
 13.
Co-Promotion Plan. 
 Within [***] of the date of exercise by DICERNA of a Co-Promotion Option, the JMC shall prepare a Co-Promotion Plan
for each Co-Promoted Product for the Co-Promotion Territory. The Co-Promotion Plan shall include [***]. 
 14. Audit of Development Costs. 

KHK shall keep and maintain complete and accurate records of all Development Costs incurred in the development of Co-Promoted Products in
sufficient detail to allow confirmation of same by an independent certified public accountant. DICERNA shall have the right for a period of [***] after exercise of its Co-Promotion Option to appoint at its expense an independent certified public
accountant reasonably acceptable KHK to audit the relevant records of KHK or its Affiliates to verify that the amount of such Development Costs have been correctly determined. 

  

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 15. Audit of Commercialization Expenses. 

Each Party shall keep and maintain for [***] complete and accurate records of all commercialization expenses incurred in connection with the
commercialization of Co-Promoted Products in sufficient detail to allow confirmation of same by an independent certified public accountant. Each Party shall have the right for a period of [***] after such commercialization expenses are incurred, to
appoint at its expense an independent certified public accountant reasonably acceptable to the other Party to audit the relevant records of such Party to verify that the amount of commercialization expenses incurred have been correctly determined.

  

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 SCHEDULE 8 

FORM OF PRESS RELEASE 
 Media
Contacts: 
 For Dicerna: 
 Martin Williams, SVP &
Chief Business Officer 
 Dicerna Pharmaceuticals 
 +1
(617) 621-8097 
 Michele Rozen 
 Pure Communications,
Inc. 
 +1 (617) 953-2214 
 Dicerna signs
Research Collaboration and License Agreement for Drug Delivery Systems and Dicer Substrate siRNA (DsiRNA) Pharmaceuticals with Kyowa Hakko Kirin 

WATERTOWN, Mass. – January 4th, 2010 – Dicerna Pharmaceuticals, Inc., (Dicerna) a second generation RNA interference (RNAi) company
developing novel therapeutics utilizing its proprietary Dicer Substrate TechnologyTM and Dicer Substrate siRNA (DsiRNA) molecules, and Kyowa Hakko Kirin Co., Ltd. (TSE: 4151) (Kyowa Hakko Kirin), one of Japan’s leading biopharmaceutical
companies, announced today that the two companies have entered into a research collaboration and license agreement for the research, development and commercialization of drug delivery systems and DsiRNA pharmaceuticals for therapeutic targets in
oncology. 
 “We are very pleased to enter into this exciting collaboration with Kyowa Hakko Kirin,” said James C. Jenson, Ph.D., chief executive
officer and co-founder of Dicerna. “This partnership is a further validation of Dicerna’s proprietary Dicer Substrate Technology platform and our unique ability to generate a greater number of more potent molecules. This collaboration
provides us with the opportunity to develop novel Dicer Substrate siRNA therapies and related drug delivery systems while working with an innovative biopharmaceutical partner.” 

Under the terms of the collaboration, Dicerna will receive $4 million in upfront cash payments including research funding, and up to $120 million in
additional research funding, development and commercial milestones for exclusive rights to one target in the field of oncology. According to the progress of the research collaboration, Kyowa Hakko Kirin and

  

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Dicerna may expand the scope of the collaboration by adding approximately up to ten targets under similar terms and may broaden the therapeutic focus of the partnership. Dicerna is entitled to
royalty payments on sales from products for these targets. Dicerna also has an option to equally co-promote and profit-share (50:50) in the United States for the initial target. 

“Dicer Substrate TechnologyTM is a highly promising approach to provide innovative RNAi-based
therapeutics. Combining with our drug delivery system will enable us to jointly offer new treatments for cancer as well as other diseases.” said Etsuo Ohshima, Ph.D., Managing Officer and Vice President of Research Division at Kyowa Hakko
Kirin. “This collaboration addresses to reinforce the possibility of DsiRNA-based medicines by means of specific delivery to tumors or certain tissues. We believe that this endeavor to modulate intracellular targets can be complementary to our
own antibody-based approach featuring POTELLIGENT® technology to cell surface targets. Dicerna will be an important partner for Kyowa Hakko Kirin to open an opportunity of new medications for
patients.” 
 “We look forward to a very productive partnership with our colleagues at Kyowa Hakko Kirin, a company with an interest in RNA
interference therapeutics,” said Martin D. Williams, chief business officer at Dicerna. “We have been impressed by Kyowa Hakko Kirin’s experience with gene silencing and drug delivery systems. In Kyowa Hakko Kirin, we believe we have
found a partner who shares our vision of the importance of bringing this important new therapeutic category to market, and commitment to develop DsiRNA-based medicines for the benefit of patients.” 

About Kyowa Hakko Kirin 
 Kyowa Hakko Kirin Co., Ltd., had
a new start in October 2008 following the merger of Kyowa Hakko Kogyo Co., Ltd. and Kirin Pharma Co., Ltd., with the aim of becoming a global specialty pharmaceutical company that creates innovative new drugs. To that end, Kyowa Hakko Kirin is
integrating and enhancing the antibody technologies and other advanced technologies and assets that were developed by its predecessor companies. As an R&D-centered company with a strong foundation in biotechnology, Kyowa Hakko Kirin is focusing
its core business areas of pharmaceuticals and bio-chemicals to create new value in the life sciences and to contribute to the health and well-being of people around the world. 

About Dicer Substrate RNAi 
 First described in plants and
then in worms, flies and higher organisms, RNA interference (RNAi) is a key cellular mechanism regulating gene expression in both normal and disease processes. Dicer is a critical enzyme involved in the gene-silencing cascade. Dicer processing

  

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of double-stranded RNA oligonucleotides of 25 or more base pairs and hand-off to the gene-silencing complex (RISC) results in significantly more potent activity and longer duration of action.

 About Dicerna 
 Dicerna Pharmaceuticals is a private,
venture-backed RNAi-focused biopharmaceutical company developing novel therapeutic agents in multiple disease areas based on its proprietary Dicer Substrate TechnologyTM platform. Dicerna is developing second generation RNAi-based therapies, and
related drug delivery systems, that use the engagement of the enzyme Dicer, which is an earlier step in the gene silencing process and a natural initiation point for the RNAi cascade. This distinct biological pathway demonstrates greater potency and
a longer duration of action, differentiating it from other RNAi approaches, and resulting in the knockdown of expression of a targeted gene in a way that is highly selective and specific. Dicerna believes that its Dicer Substrate Technology is based
on intellectual property that is both broadly enabling and distinct from other IP in the field. Dicerna has exclusive, worldwide rights to the Dicer Substrate Technology and has the sole right to grant sublicenses to the full portfolio of Dicer
Substrate intellectual property. Dicerna is based in Watertown, Massachusetts. For more information, please visit www.dicerna.com. 

  

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 EXHIBIT A 

RESEARCH COLLABORATION PLAN 

[***] 

  

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 [***] 

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 [***] 

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 [***] 

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 [***] 

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 [***] 

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 [***] 

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 [***] 

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 [***] 

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 [***] 

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 [***] 

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 AMENDMENT NO. 1 TO 

RESEARCH COLLABORATION AND LICENSE AGREEMENT 

This Amendment No. 1 to the RESEARCH COLLABORATION AND LICENSE AGREEMENT (this “Amendment”) is entered into as of
December 2, 2010 (the “Amendment Effective Date”) by and between DICERNA PHARMACEUTICALS, INC., a corporation organized and existing under the laws of Delaware (“DICERNA”), and KYOWA HAKKO KIRIN CO. LTD., a
corporation organized and existing under the laws of Japan (“KHK”). DICERNA and KHK are each hereafter referred to individually as a “Party” and together as the “Parties.” Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the RESEARCH COLLABORATION AND LICENSE AGREEMENT entered into as of December 21, 2009 (the “Original Agreement Effective
Date”), by and between DICERNA and KHK (the “Agreement”). 
 WHEREAS, the Parties desire to amend the terms
of the Agreement in order to clarify the understanding of the Parties with respect to the use and ownership of certain intellectual property to be used in certain research to be conducted under the Agreement and the terms applicable to the screening
and selection by KHK of a certain target as a [***]Target pursuant to the Agreement on the terms and subject to the conditions set forth herein; and 

WHEREAS, KHK has requested that [***] be included in the Research Collaboration as a [***] Target [***], subject to the payment by KHK of the
[***] applicable thereto set forth in Section 7.2.5 of the Agreement; and 
 WHEREAS, in connection therewith, the Parties have agreed
to amend Schedule 5-C of the Agreement to include [***] as a [***] Target in accordance with Section 4.1(c)(i) of the Agreement, which amended Schedule 5-C is attached hereto. 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the Parties hereto,
intending to be legally bound, hereby agree as follows: 
 1. Amendments to Agreement. 

(a) The following new definitions are hereby included in Article 1 and the remaining definitions in Article 1 are hereby renumbered
accordingly: 
 “1.38 “DICERNA Background [***] Technology” means any Know-How Controlled by
DICERNA that relates to any [***] and that is used by DICERNA, or provided by DICERNA for use, in this Agreement. For purposes of clarity, DICERNA Background [***] Technology shall not include DICERNA Program Technology or DICERNA’s interest in
Joint Technology. For purposes of this definition only, “Controlled” means, with respect to any Know-How that DICERNA licenses from a Third Party, the ability of DICERNA to grant a sublicense to such Know-How without violating the
license agreement with, and without the payment by DICERNA of any additional consideration to, the Third Party licensor. 

  
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 “1.60 “Feasibility Study” means the research
activities to be carried out by DICERNA and KHK with respect to [***] described in the Research Collaboration Plan attached hereto as Exhibit B. For purposes of clarity, the Feasibility Study shall not include the Target Confirmation Study.

 “1.64 “Feasibility Study Term” means the period beginning on the date of [***] and continuing
for a period of [***], unless mutually shortened or extended by the Parties. 
 “1.65 “Feasibility Study Success
Criteria” means the qualitative and/or quantitative required Criteria as described in Exhibit B applicable to [***] in order to determine whether to advance [***] to a Target Confirmation Study. 

“1.66 “KHK Background [***] Technology” means any Know-How Controlled by KHK that relates to any
[***] and that is used by KHK, or provided by KHK for use, in this Agreement. For purposes of clarity, KHK Background [***] Technology shall not include KHK Program Technology or KHK’s interest in Joint Technology. For purposes of this
definition only, “Controlled” means, with respect to any Know-How that KHK licenses from a Third Party, the ability of KHK to grant a sublicense to such Know-How without violating the license agreement with, and without the payment
by KHK of any additional consideration to, the Third Party licensor. 
 “1.67 “KHK Background [***]
Technology” means any Know-How Controlled by KHK that relates to any [***]. For purposes of clarity, KHK Background [***] Technology shall not include KHK Program Technology or KHK’s interest in Joint Technology. For purposes
of this definition only, “Controlled” means, with respect to any Know-How that KHK licenses from a Third Party, the ability of KHK to grant a sublicense to such Know-How without violating the license agreement with, and without the
payment by KHK of any additional consideration to, the Third Party licensor. 
 “1.68 “KHK Background [***]
Patent Rights” means any Patent Rights Controlled by KHK during the Term that contain one or more claims that cover KHK Background [***] Technology. For purposes of clarity, (a) KHK Background [***] Patent Rights shall not
include KHK Program Patent Rights, and (b) attached hereto as Schedule 4-B is a complete and accurate list of all KHK Background [***] Patent Rights Controlled by KHK as of the Amendment Effective Date. 

“1.69 “[***]” means [***]. 

“1.70 “Target Confirmation Study” means the research activities to be carried out by DICERNA and KHK
with respect to [***] described in the Research Collaboration Plan attached hereto as Exhibit C following the achievement by [***] of the Feasibility Study Success Criteria. For purposes of clarity, the Target Confirmation Study shall not
include the Feasibility Study. 

  
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 “1.71 “Target Confirmation Study Criteria” means the
qualitative and/or quantitative required Criteria as described in Exhibit C for [***] applicable to the conduct of the Target Confirmation Study. 

“1.72 “Target Confirmation Study Term” means, with respect to [***], the period beginning on [***] and continuing
for a period of [***], unless mutually shortened or extended by the Parties. 
 “1.73 “Tertiary Field” means
human pharmaceutical use for the treatment of [***]. 
 (b) The definition of Field in Section 1.60 of the Agreement is hereby deleted
in its entirety and the following is hereby inserted in lieu thereof: 
 “1.60 “Field” means, collectively, the
Primary Field, the Secondary Field and the Tertiary Field. 
 (c) The following definitions in Sections 1.43 and 1.81, respectively, of the
Agreement are hereby amended as set forth below, by adding the respective underlined portions to each otherwise unchanged provision, as follows: 

“1.43 “DICERNA Program Technology” means (a) any Program Technology that (i) is not KHK Program
Technology and (ii) is conceived or first reduced to practice by employees of, or consultants to, DICERNA, alone or jointly with any Third Party, without the use in any material respect of any KHK [***] DDS Technology, KHK Patent Rights or
Joint Technology; and (b) any Program Technology, regardless of whether conceived or first reduced to practice by employees of, or consultants to, DICERNA, KHK, or jointly by both Parties, that relates to, or constitutes, DICERNA Background
Dicer Substrate Technology, DICERNA Background [***] Technology or DICERNA Background Dicer Substrate Patent Rights. 
 “1.81
“KHK Program Technology” means (a) any Program Technology that (i) is not DICERNA Program Technology and (ii) is conceived or first reduced to practice by employees of, or consultants to, KHK alone or jointly
with any Third Party, without the use in any material respect of any DICERNA Technology, DICERNA Patent Rights or Joint Technology; and (b) any Program Technology, regardless of whether conceived or first reduced to practice by employees of, or
consultants to, DICERNA, KHK or jointly by both Parties, that relates to or constitutes the KHK [***] DDS Technology, KHK Background [***] Technology, KHK Background [***] Patent Rights, KHK Background [***] Technology and/or KHK Background Patent
Rights. 

  
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 (d) The definition of Joint Technology in Section 1.77 of the Agreement is hereby
deleted in its entirety and the following is hereby inserted in lieu thereof: 
 “1.77 “Joint Technology” means
any Program Technology, other than DICERNA Program Technology or KHK Program Technology, that is (a) jointly conceived or reduced to practice by employees of, or consultants to, KHK and employees of, or consultants to, DICERNA,
(b) conceived or reduced to practice solely by employees of, or consultants to, a Party through the use in any material respect of any Technology or Patent Rights of the other Party or (c) a new composition of matter consisting of [***].
For purposes of clarity, Joint Technology includes, but is not limited to, (i) data and information obtained under the Research Collaboration and (ii) any Program Technology, other than DICERNA Program Technology or KHK Program Technology,
with respect to any [***].” 
 (e) The definition of Research Collaboration Plan in Section 1.109 of the Agreement is hereby
deleted in its entirety and the following is hereby inserted in lieu thereof: 
 “1.109 “Research Collaboration
Plan” means each written plan (a) describing the research activities to be carried out by the Parties during the Research Collaboration Term in conducting the Research Collaboration pursuant to this Agreement, and (b) setting
forth all Criteria applicable to each Research Compound that is part of such Research Collaboration. For purposes of clarity, the Research Collaboration Plan shall include the research activities to be carried out by DICERNA and KHK with [***] as
part of the Feasibility Study and Target Confirmation Study, as described on Exhibit B and Exhibit C attached hereto and incorporated herein by reference.” 

(f) Section 2.2(a) of the Agreement is hereby amended to read as follows, by adding the underlying portion to the otherwise unchanged
provision: 
 “(a) KHK [***] DDS Technology or KHK [***]Technology; 

(g) The following new Section 4.1(c)(iv) is hereby included in Section 4.1(c) of the Agreement: 

(iv) Feasibility Study; Target Confirmation Study. 

(A) Conduct of Feasibility Study. As soon as practicable following the payment by KHK of the applicable [***] as a
[***]Target pursuant to Section 4.1(c)(i), the Parties will initiate a Feasibility Study with [***] according to the Research Collaboration Plan attached hereto as Exhibit B. During the Feasibility Study Term, each Party shall use
Commercially Reasonable Efforts to conduct the research activities for which it is responsible in accordance with such Research Collaboration Plan. Without limiting the foregoing, the obligations of the Parties set forth in Sections 3.6.2
through 3.6.9 shall apply to each of the Parties in its conduct of such research activities. 
 (B) Conduct of Target
Confirmation Study. KHK shall have the right, in its sole discretion and at any time during the Feasibility Study Term, based on the applicable Feasibility Study Success Criteria and the results of the

  
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Feasibility Study, to determine to proceed with a Target Confirmation Study with respect to [***] (the “Target Confirmation Research Activities”) by providing written
notice to DICERNA (the “Target Confirmation Study Notice”). As soon as practicable following the receipt by DICERNA of such Target Confirmation Study Notice, the Parties shall (1) prepare an amendment to the Research
Collaboration Plan to describe the additional research activities to be conducted and the additional Criteria applicable thereto and (2) promptly initiate such additional research activities. A brief outline of the currently contemplated
content of such research activity is attached hereto as Exhibit C, to be revised and completed in more detail by the Parties if KHK elects to proceed. Each Party shall use Commercially Reasonable Efforts to conduct such additional
research activities for which it is responsible in accordance with such Research Collaboration Plan, as so amended. Without limiting the foregoing, the obligations of the Parties set forth in Sections 3.6.2 through 3.6.9 shall apply to each of the
Parties in its conduct of such research activities. 
 (h) Section 4.1(c)(ii) of the Agreement is hereby renumbered as
Section 4.1(c)(ii)(A) and new Sections 4.1(c)(ii)(B),(C) and (D) are hereby added to Section 4.1(c)(ii) as follows: 

(B) [***]. 

(C) [***]. 

(D) Study Results. For purposes of clarity (a) the Parties hereby acknowledge and agree, in accordance with
Section 1.77, that (1) all data and information obtained or produced in the conduct of the Feasibility Study and/or the Target Confirmation Study (the “Study Results”) shall be jointly owned by the Parties and
(2) subject to subsection (b) below, neither Party shall cause or allow any Study Results to be published without the prior written consent of the other Party; and (b) notwithstanding anything to the contrary in Section 10.4,
Section 1.77 or subsection (D)(a) above, on and after the date on which [***] becomes a Waived Target pursuant to this Agreement, (1) DICERNA shall solely own the Study Results and have the sole right to use such Study Results for any and
all purposes, inside or outside of this Agreement, without restriction, (2) DICERNA shall be deemed to have granted KHK the right to use such Study Results solely for internal research purposes and (3) as between the Parties, DICERNA shall have
the sole right to publish such Study Results; provided, that, (i) any contribution of KHK to the Study Results shall be duly recognized and co-authorship shall be determined in accordance with customary industry standards and (ii) to the
extent that any such Study Results to be published contain any Confidential Information of KHK, including without limitation KHK [***] DDS Technology or KHK Program Technology, DICERNA shall obtain the prior written consent of KHK to such
publication. 

  
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 (i) Section 6.1 of the Agreement is hereby deleted in its entirety and the following is
hereby inserted in lieu thereof: 
  

	 	“6.1	Licenses to KHK. 

 (a) DICERNA hereby grants to KHK and its Affiliates a
royalty-bearing license to (i) DICERNA Background Dicer Substrate Patent Rights, DICERNA Background Dicer Substrate Technology, DICERNA Program Patent Rights, DICERNA Program Technology, DICERNA KRAS-Specific Patents, DICERNA Background [***]
Technology and DICERNA’s interest in Joint Technology and Joint Patent Rights and (ii) to DICERNA Background DDS Patent Rights and DICERNA Background DDS Technology, solely to the extent such DICERNA Background DDS Patent Rights (the
Patent Rights described in (i) and (ii) above being referred to collectively as the “DICERNA Patent Rights”) and such DICERNA Background DDS Technology (the Technology described in (i) and (ii) above being
referred to collectively as the “DICERNA Technology”) are selected by KHK for a Research Compound or Licensed Product, in any case, to the extent necessary to research, develop, make, have made, use, offer for sale, sell and
import Research Compounds and Licensed Products (A) in the Primary Field (with respect to Research Compounds and Licensed Products for the Initial Target, subject to the payment of the applicable fee herein), (B) in the Secondary Field
(with respect to Research Compounds and Licensed Products for the Initial Target, subject to the payment by KHK of [***]), (C) subject to the payment by KHK of all applicable payments required under this Agreement, including the payment of the
applicable Lead Transfer Milestone, in the Secondary Field (with respect to Research Compounds and Licensed Products for any [***] Target and [***] Target), and (D) subject to the exercise by KHK of its [***] Right pursuant to
Section 4.1(c)(ii)(C), in the Tertiary Field (with respect to Research Compounds and Licensed Products for the applicable [***] Target), in each case in the Territory. Such licenses shall (a) be exclusive for the Initial Target in the
Primary Field and in the Secondary Field, subject to the payment by KHK of [***], exclusive for the [***] Targets, the [***] Targets and the [***] Target in the Secondary Field and exclusive for the [***] Target in the Tertiary Field, other than
Waived Targets; provided, that, DICERNA shall, and hereby does, reserve all rights under DICERNA Patent Rights and DICERNA Technology necessary for it to undertake research as part of the Research Collaboration and to Co-Promote Co-Promoted
Products, and (b) include the right for KHK and its Affiliates to grant sublicenses to Third Parties in accordance with Section 6.2.” 

(b) Limited Research License to KRAS. DICERNA hereby grants to KHK a non-exclusive, royalty-free license to DICERNA Patent Rights and
DICERNA Technology solely for the purpose of having KHK conduct, and solely to the extent necessary for KHK to conduct, research in the Tertiary Field using KRAS DsiRNA (including without limitation the prototype KRAS 1.1 which has already been
provided by DICERNA to KHK) in the conduct of the Feasibility Study as set out in Exhibit B. 

  
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 (j) Section 6.3 of the Agreement is hereby deleted in its entirety and the following is
hereby inserted in lieu thereof: 
  

	 	“6.3	License to DICERNA. KHK hereby grants to DICERNA a nonexclusive, royalty-free license to KHK Background Patent Rights, KHK Background [***] Technology, KHK Background [***] Technology, KHK Background [***]
Patent Rights, KHK Program Patent Rights and KHK’s interest in Joint Technology and Joint Patent Rights solely for the purpose of and to the extent necessary for DICERNA to perform its obligations under this Agreement, including in order for
DICERNA to undertake research as part of the Research Collaboration and to Co-Promote Co-Promoted Products; provided, that, the foregoing shall not include a license to KHK [***] DDS Technology unless such KHK [***] DDS Technology is selected by KHK
for a Research Compound. 

 (k) A new Section 6.5 is hereby inserted in the Agreement: 

 

	 	“6.5	Negotiation Right. In the event that either Party desires to obtain an exclusive license to use any [***] that is included within Joint Technology or Joint Patent Rights for a purpose other than in
connection with a Research Compound or a Licensed Product, such Party shall provide written notice to the other Party, which notice shall identify the [***] and the proposed field of use. As promptly as possible following the delivery of such
notice, the Parties shall commence the negotiation in good faith of the terms under which the other Party would grant an exclusive license under its interest in the applicable Joint Technology and/or Joint Patent Rights to the notifying Party with
respect to the [***] and field of use identified in the notice, which negotiations shall continue for a period not to exceed [***] from the date of the notice. If the Parties are unable to reach agreement on the terms of any such exclusive license
on or before the expiration of such [***] negotiation period (as such period may be extended by mutual agreement of the Parties), the other Party shall have no further obligation to negotiate with the notifying Party with respect to the grant of
such exclusive license. 

 (l) A revised Schedule 5-C is hereby added to the Agreement in substantially the form of
Schedule 5-C attached hereto in substitution of the existing Schedule 5-C attached to the Agreement. 

  
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 (m) A new Exhibit B is hereby added to the Agreement in substantially the form of
Exhibit B attached hereto. 
 (n) A new Exhibit C is hereby added to the Agreement in substantially the form of Exhibit
C attached hereto. 
 2. Press Release. The Parties have agreed to the wording of a press release in connection with the
execution and delivery of this Amendment as set forth in Exhibit 1 attached hereto. 
 3. Miscellaneous. The
Parties hereby confirm and agree that, except as amended hereby, the Agreement shall remain in full force and effect and is a binding obligation of the Parties. This Amendment may be executed simultaneously in two or more counterparts, each of which
shall be deemed an original. 
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 IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by their duly
authorized representatives. 
  

									
	DICERNA PHARMACEUTICALS, INC.	 		 	KYOWA HAKKO KIRIN CO. LTD.
					
	By:	 	 /s/ Martin D. Williams
	 		 	By:	 	[***]
	Name:	 	 Martin D. Williams
	 		 	Name:	 	[***]
	Title: 	 	 Senior Vice President,
	 		 	Title:	 	[***]
		 	 Chief Business Officer
	 		 		 	[***]

  
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 SCHEDULE 4-B 

KHK BACKGROUND [***] PATENT RIGHTS 
  

															
	 Title
	  	Country	  	Application
No.	  	Application
Date	  	Date of Grant	  	Patent No	  	Expiration
Date	  	Status

 [***] 

  

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 SCHEDULE 5-C 

[***] TARGET LIST 
 [***] 

  

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 EXHIBIT B 

[***] RESEARCH COLLABORATION PLAN 

[***] 

  

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 [***] 

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 [***] 

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 [***] 

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 [***] 

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 EXHIBIT C 

OUTLINE OF TARGET CONFIRMATION STUDY 

[***] 

  

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 EXHIBIT 1 

FORM OF PRESS RELEASE 

Contacts: 
 Martin Williams, SVP & Chief Business
Officer 
 Dicerna Pharmaceuticals 
 (617) 621-8097 

Michele Rozen 
 Pure Communications, Inc. 

(617) 953-2214 
 Dicerna Pharmaceuticals
and Kyowa Hakko Kirin Expand Dicer Substrate Technology 
 Partnership into Immunologic and Inflammatory Diseases 

WATERTOWN, Mass., December XX, 2010 – Dicerna Pharmaceuticals, Inc. (Dicerna), a second generation RNA interference (RNAi) company developing
novel therapeutics utilizing its proprietary Dicer Substrate TechnologyTM and Dicer Substrate siRNA (DsiRNA) molecules, and Kyowa Hakko Kirin Co., Ltd. (TSE: 4151) (Kyowa Hakko Kirin), one of
Japan’s leading biopharmaceutical companies, announced today the expansion of their ongoing research collaboration into the new therapeutic area of immunologic and inflammatory diseases. In January 2010, the companies announced a research
collaboration and license agreement worth up to $1.4 billion for the research, development and commercialization of DsiRNA pharmaceuticals and drug delivery systems for therapeutic targets in oncology. 

“We are pleased to broaden our current research collaboration and license agreement with Kyowa Hakko Kirin into the areas of immunology and
inflammation,” said Douglas M. Fambrough, Ph.D., chief executive officer of Dicerna. “This new agreement is a vote of confidence in Dicerna and in the promise of our DsiRNA molecules, which have demonstrated superior potency and longer
duration of action in preclinical models, and have the potential to overcome the limitations of other RNAi approaches.” 
 Under the terms of the
expanded agreement, Dicerna will receive a cash payment for exercise by Kyowa Hakko Kirin of an option to bring an additional target into the collaboration. With this expanded collaboration, Dicerna will be actively working in the therapeutic areas
of oncology, endocrinology, immunology and inflammation. 
 “Immunology and inflammation are strategically important fields of research for Kyowa Hakko
Kirin, and we are committed to expanding our RNAi-focused research and development efforts with Dicerna into these additional therapeutic areas,” said Etsuo Ohshima, Ph.D., managing officer and vice president, head, research division at Kyowa
Hakko Kirin. “We are very pleased with the relationship and progress of our collaboration with Dicerna to date, and look forward to working closely with the company to develop DsiRNA-based medicines that treat patients with unmet medical needs
in these disease areas.” 

  

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 About Kyowa Hakko Kirin 

Kyowa Hakko Kirin Co., Ltd., had a new start in October 2008 following the merger of Kyowa Hakko Kogyo Co., Ltd. and Kirin Pharma Co., Ltd., with the aim of
becoming a global specialty pharmaceutical company that creates innovative new drugs. To that end, Kyowa Hakko Kirin is integrating and enhancing the antibody technologies and other advanced technologies and assets that were developed by its
predecessor companies. As an R&D-centered company with a strong foundation in biotechnology, Kyowa Hakko Kirin is focusing its core business areas of pharmaceuticals and bio-chemicals to create new value in the life sciences and to contribute to
the health and well-being of people around the world. 
 About Dicer Substrate RNAi 

Dicer is a critical enzyme involved in the RNAi gene silencing cascade and acts as the natural initiation point for this pathway by processing double-stranded
RNA so that it can be used for gene silencing. Dicer then delivers these modified small RNA molecules to the mature gene silencing complex. Dicerna’s synthetic Dicer Substrate siRNA (DsiRNA) molecules are 25 or more base pairs in length and are
processed by Dicer. By utilizing this distinct early entry point into the pathway, DsiRNA molecules have greater potency and longer duration of action than other RNAi approaches. In addition, DsiRNA molecules have enhanced delivery potential because
their structure creates a natural conjugation point for cellular targeting agents. 
 About Dicerna 

Dicerna Pharmaceuticals is a private, venture-backed RNAi-focused biopharmaceutical company developing novel therapeutic agents and related drug delivery
systems in multiple disease areas based on its proprietary Dicer Substrate TechnologyTM platform and Dicer Substrate siRNA (DsiRNA) molecules. Dicer Substrate Technology is a second generation
RNAi approach that results in greater potency, longer duration of action and enhanced delivery potential, differentiating it from other RNAi approaches. Dicerna believes that its Dicer Substrate Technology is based on intellectual property that is
both broadly enabling and distinct from other IP in the field. Dicerna has a major alliance with Kyowa Hakko Kirin for DsiRNA pharmaceuticals and drug delivery systems focused in oncology, immunology and inflammation. The company also has a
partnership with Ipsen to research and develop novel DsiRNA therapeutics with targeted delivery in oncology and endocrinology. Dicerna is based in Watertown, Massachusetts. For more information, please visit www.dicerna.com. 

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