Document:

RELEASE AND SEVERANCE
AGREEMENT
PLEASE READ CAREFULLY 

This Release and Severance Agreement (the “Agreement”) is made and entered into by and between Gordon
A. Baird (“Executive”) and
Independence Bancshares, Inc., a South Carolina corporation and holding company
of Independence National Bank, a national bank, as well as any affiliated or
related entities, subsidiaries, or divisions, and the shareholders, directors,
officers, employees, and agents thereof (collectively referred to herein as the
“Company”). 

THE PARTIES acknowledge the following: 

WHEREAS, Executive was employed by the Company pursuant to the terms of
that certain Employment Agreement between the parties dated March 27, 2013 (the
“Employment Agreement”), until September 25, 2015 when his employment was
terminated without Cause (the “Termination Date”);
and

WHEREAS, the Company and Executive acknowledge that as of the date
hereof, Executive holds stock options to purchase 1,500,000 shares of the
Company's common stock pursuant to two separate stock option award agreements,
dated as of December 31, 2012 and May 16, 2013 (the "Stock Options"), of which 1,312,500 options have vested, and
the remaining 187,500 options vested on December 31, 2015.

WHEREAS, Executive desires to receive severance benefits provided
pursuant to this Agreement, and the Company is willing to provide these benefits
to Executive on the condition that Executive enters into this Agreement.

THEREFORE, in consideration of the mutual agreements and promises set
forth within this Agreement, the receipt and sufficiency of which are hereby
acknowledged, Executive and Employer agree as follows: 

1. Payments
to Executive. In consideration for the Executive’s promises as  set forth
herein, the Company shall pay Executive a) severance pay in the gross  amount of NINETY-THOUSAND AND NO/100THS ($90,000.00)
Dollars and b) a payment in  the gross amount of THIRTY-FIVE THOUSAND, SIX HUNDRED SIXTY-EIGHT AND 44/100THS  ($35,668.44)
Dollars, each less applicable withholdings and deductions and  payable as two lump sum amounts pursuant to the Company’s
normal established  payroll procedures (hereinafter collectively the “Severance
Payments”). The Severance Payments shall be made within  two business
days following the effective date of this Agreement as defined in  Paragraph 19 below, provided Executive has timely executed
and not revoked this  Agreement. The Severance Payments may not be accelerated or deferred in any  regard. 

2. Prior Wages, Salary, and Expenses; Survival of
Stock Options following Termination. Other than the Severance
Payments set forth in Section 1 of this Agreement, Executive acknowledges
receipt of payment for all wages, salary, and expenses due to Executive.
Notwithstanding the Executive's termination, the Company and Executive
acknowledge that the Stock Options remain exercisable for ten (10) years
following the date the Stock Options were granted; unless the Executive violates the restrictive covenants found in Section 5, 6,
7, and 9 of the Employment Agreement, in which case such he forfeits the Stock
Options. 

1 

3. Release. Executive hereby releases, acquits, and forever discharges the Company,
its parent companies, subsidiaries, divisions, affiliates and controlling
persons (if any), their officers, directors, board members, employees,
representatives, attorneys, personal representatives, affiliated or unaffiliated
benefit plans, third-party administrators, any and all of their successors and
assigns, and all persons acting by, through, under, or in concert with any of
them (collectively the “Company”) from any and
all actions, causes of action, claims, demands, losses, claims for attorneys’
fees, and all other forms of civil damages, occurrences, and liabilities of any
kind whatsoever, both known or unknown, arising out of any matter, happening, or
thing, from the beginning of time to the date of this Agreement is signed by
Executive, specifically including, but not limited to, any and all liability
arising from, including amendments to and anti-retaliation provisions deriving
from, the following: 

	●	
      Local, state, or federal common law,
      statute, regulation, or ordinance;

	●	
      Title VII of the
      Civil Rights Act of 1964;

	●	
      Section 1981 of the
      Civil Rights Act of 1866;

	●	
      the Age
      Discrimination in Employment Act of 1967;

	●	
      the Americans with
      Disabilities Act of 1990;

	●	
      the Family and
      Medical Leave Act;

	●	
      the Employee
      Retirement Income Security Act of 1974;

	●	
      the Health Insurance
      Portability and Accountability Act;

	●	
      the Occupational and
      Safety Health Act;

	●	
      the Equal Pay Act;
      

	●	
      the Uniformed Services Employment and
      Re-employment Act of 1994;

	●	
      Executive Orders
      11246 and 11141;

	●	
      the Worker Adjustment
      and Retraining Notification Act;

	●	
      the Rehabilitation
      Act of 1973;

	●	
      the Medicare,
      Medicaid and SCHIP Extension Act of 2007;

	●	
      state workers’
      compensation laws;

	●	
      state
      non-discrimination and/or human affairs laws;

	●	
      state payment of
      wages laws, acts or regulations;

	●	
      Executive’s
      employment relationship and/or affiliation with Company
  

This release also includes a release of any claims for wrongful
termination, breach of express or implied contract, intentional or negligent
infliction of emotional distress, libel slander, as well as any other claims,
whether in tort, contract or equity, under federal or state statutory or common
law. 

Without waiving any prospective or retrospective rights under the Fair
Labor Standards Act (“FLSA”), Executive admits that he has received from Company
all rights and benefits, if any, potentially due to him pursuant to the FLSA.
Executive states that he is aware of no facts (including any injuries or
illnesses) which might lead to his filing of a workers’ compensation claim
against Company. It is the parties’ intent to release all claims which can
legally be released but no more than that. 

Executive further stipulates, such stipulation being expressly understood
by Executive as material to this Agreement, that he has not engaged in, nor is
he aware of, any misconduct or wrongdoing on the part of the Company of any kind
or any regard. Executive’s stipulation in this regard is material to the
Company’s willingness to enter into this Agreement and provide Executive the
benefits provided hereunder. 

Notwithstanding any other provision of this Agreement, nothing in this
Agreement shall release any claims for breach of this Agreement.

2 

4. Participation in Lawsuits; Agreement Not to Serve
as Class Representative.
Executive agrees that he will not serve in a representative capacity in a
lawsuit (derivative, class action, or otherwise) against the Company. In
addition, Executive agrees that he will not participate in any lawsuit against
the Company and will refrain from providing any assistance whatsoever to persons
suing or contemplating suit against the Company. Notwithstanding this provision,
the Executive understands that he is allowed to respond to a subpoena or order
from a court of competent jurisdiction, as allowed or required by law, to the
extent that such response is related to a suit against the Company. 

5. Covenant Not to Sue. Executive represents that he has no claims
pending or filed with any local, state or federal agency (including the U.S.
Equal Employment Opportunity Commission, the U.S. Department of Labor, and any
comparable state or local administrative agency) or court against the Company as
of the date this Agreement was signed by Executive. Executive further agrees
that he will not file or participate in any lawsuit against the Company arising
out of or in connection with the employment relationship previously existing
between them or the termination of that relationship, arising out of any matter
through the date he signs this Agreement, and that this covenant not to sue does
not cover any claim based upon the Company’s alleged violation of this
Agreement. The foregoing shall be construed as a covenant not to sue. This
Agreement may be introduced as evidence at any legal proceeding as a complete
defense to any claims existing as of the date of this Agreement ever asserted by
Executive against the Company. 

6. Discrimination Charges; ADEA Challenges to this
Agreement. Nothing in this
Agreement shall be interpreted or applied in a manner that affects or limits
Executive’s otherwise lawful ability to bring an administrative charge with, to
participate in an investigation conducted by, or to participate in a proceeding
involving the U.S. Equal Employment Opportunity Commission or other comparable
state or local administrative agency. However, Executive specifically agrees
that the consideration provided to him in this Agreement represents full and
complete satisfaction of any monetary relief or award that could be sought or
awarded to Executive in any administrative action (including any proceedings
before the U.S. Equal Employment Opportunity Commission or any comparable state
or local agency) arising from events related to his employment with the Company
or the termination thereof. Additionally, nothing in this Agreement shall be
interpreted or applied in a manner that affects or limits Executive’s ability to
challenge this Agreement’s compliance with notice and other requirements of the
Age Discrimination in Employment Act (“ADEA”).

7. No Prior Assignment. Executive further warrants and covenants,
recognizing that the truth of this warranty and covenant is material to the
above consideration having passed, that he has not assigned, transferred or
conveyed at any time to any individual or entity any alleged rights, claims or
causes of action against the Company. 

8. Future Employment Rights. It is expressly understood and agreed that, as a
condition to the Company’s undertakings pursuant to this Agreement, Executive
will remain separated from employment with no reinstatement, reemployment or
recall rights of any kind with the Company. Executive agrees and covenants that
he will not seek re-employment with the Company at any time and will refuse any
rehiring, reinstatement, recall or other remedy or award granted to him by any
arbitrator, court, or agency, even if the Company is required to make such an
offer. Notwithstanding any provision of this Agreement to the contrary, the
Company will do nothing to interfere with any actual or prospective employment,
consulting or other business relationship between Executive and any entity which
purchases, is acquired by, is purchased by, or is merged with the Company or any
other company, entity, prospect or affiliation in which the Executive is engaged
or may be engaged. The Company also agrees that if Executive enters into an
employment, consulting or other business arrangement with another entity, and if
the Company then acquires, merges with, or is acquired by the other entity,
nothing in this Agreement shall require the termination of Executive’s
employment, consulting or other business relationship. 

3 

9. Re-Affirmation of Restrictive
Covenants. As a material
condition of this Agreement, without which Employer would not enter into this
Agreement nor provide the benefits to Executive as set forth herein, Executive
hereby re-affirms his commitment to honor the covenants set forth in Sections 5
(“Ownership of Work Product”), 6 (“Protection of Trade Secrets”), 7 (“Protection
of Other Confidential Information”), and 9 (“Restrictive Covenants”) of the
Employment Agreement. Executive further represents and warrants that he has
fully complied with each of the above-specified provisions at all times, and
acknowledges the validity and reasonableness of each of his promises set forth
therein. 

10. Return of Company Materials and
Property. Executive agrees that
within seven days after he signs this Agreement, he will return all originals
and copies of data, materials, files, and other items that are the property of
the Company, including all electronically stored information, and any other
material that is the property of the Company. Executive further acknowledges and
agrees that he has not destroyed or deleted any information of the Company from
its internal records or files or from its computer system. Proof of such return
and acknowledgement shall be provided to the Company in the form of sworn
affidavit, if requested by the Company.

11. Non-Disparagement. Executive also agrees and covenants that he will
not in any way (directly or indirectly) do or say anything at any time which
disparages the Company, its business interests or reputation, or any of its
individual directors, officers, employees, or agents. The Company agrees that
its current directors and executive officers will not disparage Executive.
Notwithstanding any provision of this Agreement, nothing in this Agreement shall
preclude Executive, in connection with a search for prospective employment or
business opportunities, from describing his responsibilities and accomplishments
while employed by the Company. Nothing in this Agreement shall preclude
Executive or the Company’s directors and executive officers from responding to
inquiries from any Federal, state or other regulatory agency having authority
over the Company or Independence National Bank.

12. Performance. The Company’s obligation to perform under this Agreement is conditioned
upon Executive’s agreements and promises to the Company as set forth herein,
including Executive’s reaffirmation of and compliance with each of the covenants
specified and re-affirmed by Executive in Section 8 above. In the event of an
actual or threatened breach by Executive of any such agreements or promises, the
Company’s obligations to perform under this Agreement shall automatically
terminate and the Company shall have no further obligation to Executive,
specifically including, but not limited to, the payment of severance pay as set
forth in Section 1 of this Agreement. Further, the Company shall be entitled to
seek, at its option, the return of all but $5,000.00 of the Severance Payments
and other sums paid to Executive or on his behalf pursuant to Section 1 of this
Agreement. The remedies of this Section 12 shall be in addition to any and all
other remedies available to the Company. Further, Executive acknowledges and
agrees that for purposes of determining whether the Company is entitled to the
relief set forth in this Section 12, the controlling issue shall be Executive’s
breach or threatened breach of the subject provision, with the enforceability of
said provision via injunctive relief treated as a separate issue. Executive
further acknowledges and agrees that any argument by Executive that any
restrictive covenants re-affirmed in Section 9 of this Agreement is invalid or
unenforceable due to the scope or duration of said restriction, shall result in
the forfeiture of his right to receive or retain the Severance Payments and
other sums set forth in Section 1 of this Agreement. 

13. Indemnification. The Company acknowledges that it
has certain obligations to Executive as a former Director and Officer of the
Company, pursuant to Article Six of the Company’s Amended and Restated Bylaws
dated March 5, 2012, and potentially pursuant to any applicable insurance policy
of the Company; provided, however, Executive acknowledges that the Company’s
indemnification obligations are not altered or increased by this Agreement, and
are governed and limited by the applicable terms of those certain documents by
which the obligations are created. 

4 

14. No Admission of Liability. Nothing in this Agreement (or the Agreement
itself) shall operate or be interpreted as an admission of liability as to any
of the claims, charges, actions and lawsuits released hereby. The Company, and
each of its individual directors, officers, employees, agents and insurers, and
their successors, individually and collectively, expressly deny any such
liability. 

15. Final and Binding/Entire Agreement. This Agreement sets forth the entire agreement
between the parties and is intended to be final and binding upon them. Except as
set forth herein, it fully supersedes any and all prior agreements or
understandings on the subjects addressed herein, including the Employment
Agreement, and may only be amended by a written document signed by the parties
or their duly authorized representatives which specifically states that it was
intended as an amendment. 

16. Notice. Any notice required or permitted to be given under this Agreement must be
in writing and must be given in person or be sent by registered or certified
mail to: 

a)
The Executive at the address he has
designated for his personnel files or any subsequent address identified by
Executive in writing; and 

b)
The Company at its principal place of
business, 500 East Washington Street, Greenville, SC, 29605. 

17. Controlling Law. This Agreement will be interpreted and enforced
according to the laws of the State of South Carolina and, where applicable,
federal law. 

18. Severability. If any term, provision, covenant, or condition
of this Agreement is held by a court of competent jurisdiction to be invalid,
void, or unenforceable, the remainder of the Agreement shall remain in full
force and effect and shall be in no way affected, impaired or invalidated.

19. Acknowledgements. Executive acknowledges that it is the mutual
intent of the Parties that the full release contained in this Agreement fully
complies with the Age Discrimination in Employment Act (“ADEA”) and the Older
Workers Benefit Protection Act (“OWBPA”). Accordingly, this Agreement requires,
and Executive acknowledges and agrees that: 1) the consideration provided to
Executive under this Agreement exceeds the nature and scope of any consideration
to which Executive would otherwise have been legally entitled to receive absent
execution of this Agreement; 2) execution of this Agreement and the full release
herein, which specifically includes a waiver of any claims of age discrimination
under the ADEA, is Executive’s knowing and voluntary act; 3) Executive is hereby
advised to consult with an attorney prior to executing this Agreement; 4)
Executive has reviewed the additional information provided by the Company
regarding this offer of severance as set forth on Exhibit A to this Agreement; 5) Executive has forty-five (45) calendar days
within which to consider this Agreement and his signature on this Agreement
prior to the expiration of this forty-five (45) day period (should Executive
choose not to take the full period offered) constitutes an irrevocable waiver of
said period or its remainder; 6) in the event Executive signs this Agreement,
Executive has another seven (7) calendar days to revoke it by delivering a
written notice of revocation to the addressee identified in the Notice provision
above, and this Agreement does not become effective until the expiration of this
seven (7) day period; 7) Executive has read and fully understands the terms of
this Agreement; and 8) nothing contained in this Agreement purports to release
any of Executive’s rights or claims under the ADEA that may arise from acts
occurring after the date of the execution of this Agreement.  

5 

PLEASE READ THIS
AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. YOU
AGREE THAT YOU RECEIVED VALUABLE CONSIDERATION IN EXCHANGE FOR ENTERING INTO
THIS AGREEMENT AND THAT THE COMPANY ADVISED YOU IN WRITING TO CONSULT AN
ATTORNEY PRIOR TO SIGNING THIS AGREEMENT. YOU PROMISE THAT NO REPRESENTATIONS OR
INDUCEMENTS HAVE BEEN MADE TO YOU EXCEPT AS SET FORTH HEREIN, AND THAT YOU HAVE
SIGNED THE SAME KNOWINGLY AND VOLUNTARILY.

YOU HAVE BEEN PROVIDED
AT LEAST FORTY-FIVE (45) DAYS WITHIN WHICH TO CONSIDER THIS AGREEMENT AND WAIVE
AND RELEASE ALL CLAIMS AND RIGHTS INCLUDING BUT NOT LIMITED TO THOSE ARISING
UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT. YOU SHALL HAVE SEVEN (7) DAYS
WITHIN WHICH TO REVOKE THIS AGREEMENT AND THIS AGREEMENT SHALL NOT BECOME
EFFECTIVE OR ENFORCEABLE UNTIL THAT REVOCATION PERIOD HAS EXPIRED. ANY SUCH
REVOCATION MUST BE IN WRITING AND RECEIVED BY THE COMPANY, IN ACCORDANCE WITH
THE NOTICE PROVISIONS SET FORTH ABOVE, PRIOR TO THE END OF THE REVOCATION
PERIOD.

IN WITNESS WHEREOF, the parties have executed this Agreement:

	INDEPENDENCE BANCSHARES, INC.	     	GORDON A. BAIRD
			 	 	 
	By:		   /s/Martha L Long	 	/s/Gordon A.
    Baird
	 		 		Executive Signature

		 	     		
	Date:	1/4/2016		Date:	1/4/2016
	 		
	WITNESS:		WITNESS:
	 		
	/s/Lawrence R. Miller		/s/Wendy L.
    Baird
	Company
    Witness		Executive
      Witness
	  		
	Date:	1/4/2016		Date:	1/4/2016

6

EXHIBIT
A 

Pursuant to a corporate
re-organization, certain full-time employees of the Company have been offered
severance pay in connection with their involuntary separation from employment.
To be eligible to receive severance pay, the Company is requiring each employee
to enter into a release agreement such as the foregoing Release and Severance
Agreement (the “Agreement”).

You have forty-five (45)
days from the date you are provided this Agreement to consider the Agreement.
Once you have signed the Agreement, you have seven (7) days to revoke the
Agreement. 

The following is a listing
of the job titles and ages of persons who were and were not selected for layoff
and the offer of severance pay at this time. 

	Job Title	Age	Selected for Layoff and
			Offer of Severance
	EVP
      of Business Development	47	Yes
	Director of Operations	45	Yes
	Chief Executive Officer	45	Yes
	Chief Financial Officer (part-time)	56	No
	 		
	 	 	 
	 		
	 		
	 	 	
	 		
	  
    		

7EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 
 [***] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

DETAILING AGREEMENT 

between 
 sanofi-aventis
US LLC 
 and 

Relypsa, Inc. 
 Dated as
of August 10, 2015 

 EXECUTION VERSION 

 

 Table of Contents 

 

									
	1.	 	 DEFINITIONS
	  	 	1	  
			
	2.	 	 GOVERNANCE AND SALES PROGRAM PLANS
	  	 	9	  
				
		 	2.1	 	 Joint Commercialization Committee
	  	 	9	  
		 	2.2	 	 Working Groups
	  	 	11	  
		 	2.3	 	 Alliance Managers
	  	 	11	  
		 	2.4	 	 Sales Program Plan
	  	 	11	  
		 	2.5	 	 Additional Activities
	  	 	12	  
			
	3.	 	 PROMOTIONAL MATERIAL DELIVERABLES AND OBLIGATIONS
	  	 	12	  
				
		 	3.1	 	 Grant of Right; [***]; [***]
	  	 	12	  
		 	3.2	 	 Co-Promotion Obligations
	  	 	14	  
		 	3.3	 	 Responsibilities of the Parties
	  	 	16	  
		 	3.4	 	 License Grant; Ownership of Product
	  	 	20	  
		 	3.5	 	 No Distribution by Sanofi
	  	 	21	  
			
	4.	 	 [***]
	  	 	21	  
				
		 	4.1	 	 [***]
	  	 	21	  
			
	5.	 	 REGULATORY COMPLIANCE
	  	 	21	  
				
		 	5.1	 	 Marketing Authorization and Regulatory Matters
	  	 	22	  
		 	5.2	 	 Recalls
	  	 	22	  
		 	5.3	 	 Returns
	  	 	22	  
		 	5.4	 	 Adverse Drug Experiences and Product Complaints
	  	 	22	  
		 	5.5	 	 Product Inquiries
	  	 	22	  
		 	5.6	 	 Communications with FDA
	  	 	22	  
		 	5.7	 	 [***]
	  	 	23	  
			
	6.	 	 COMPENSATION
	  	 	23	  
				
		 	6.1	 	 Compensation Arrangement
	  	 	23	  
		 	6.2	 	 Payment Terms
	  	 	26	  
			
	7.	 	 RECORD KEEPING; REPORTING AND AUDITS
	  	 	27	  
				
		 	7.1	 	 Record Keeping
	  	 	27	  
		 	7.2	 	 Financial Audit Rights
	  	 	27	  
		 	7.3	 	 Monthly Reports
	  	 	28	  
			
	8.	 	 CONFIDENTIALITY
	  	 	28	  
				
		 	8.1	 	 Non-use and Nondisclosure Obligations
	  	 	28	  

  
 i 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 

									
		 	8.2	 	 Confidential Information
	  	 	28	  
		 	8.3	 	 Disclosure Required by Law
	  	 	29	  
		 	8.4	 	 Remedies
	  	 	29	  
		 	8.5	 	 Return of Confidential Information
	  	 	29	  
		 	8.6	 	 Disclosure of Agreement, Publicity and Publications
	  	 	29	  
			
	9.	 	 REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	29	  
				
		 	9.1	 	 Mutual Representations and Warranties and Covenants
	  	 	29	  
		 	9.2	 	 Relypsa Representations and Warranties and Covenants
	  	 	31	  
		 	9.3	 	 DISCLAIMER
	  	 	31	  
			
	10.	 	 INDEMNIFICATION, LIABILITY LIMITS AND INSURANCE
	  	 	31	  
				
		 	10.1	 	 Indemnification by Sanofi
	  	 	31	  
		 	10.2	 	 Indemnification by Relypsa
	  	 	32	  
		 	10.3	 	 Procedure
	  	 	32	  
		 	10.4	 	 Limitations of Liability
	  	 	33	  
		 	10.5	 	 Insurance
	  	 	33	  
			
	11.	 	 TERM AND TERMINATION
	  	 	33	  
				
		 	11.1	 	 Term
	  	 	33	  
		 	11.2	 	 Termination Rights
	  	 	34	  
		 	11.3	 	 Effect of Termination
	  	 	35	  
		 	11.4	 	 No Waiver of Remedies
	  	 	35	  
		 	11.5	 	 Survival of Certain Provisions
	  	 	35	  
			
	12.	 	 MISCELLANEOUS
	  	 	35	  
				
		 	12.1	 	 Integration
	  	 	35	  
		 	12.2	 	 Relationship Between the Parties
	  	 	36	  
		 	12.3	 	 Modification & Non-Waiver
	  	 	36	  
		 	12.4	 	 Assignment
	  	 	36	  
		 	12.5	 	 No Third Party Beneficiaries
	  	 	36	  
		 	12.6	 	 Severability
	  	 	36	  
		 	12.7	 	 Notices
	  	 	36	  
		 	12.8	 	 Compliance with Laws
	  	 	37	  
		 	12.9	 	 Force Majeure
	  	 	37	  
		 	12.10	 	 Dispute Resolution
	  	 	38	  
		 	12.11	 	 Jurisdiction and Governing Law
	  	 	38	  
		 	12.12	 	 Interpretation
	  	 	39	  
		 	12.13	 	 Counterparts
	  	 	39	  
		 	12.14	 	 Further Assurances
	  	 	39	  

  
 ii 

 EXECUTION VERSION 

 

			
	 Exhibits
	  	 
		
	Exhibit A	  	Initial Sales Program Plan for the Product
		
	Exhibit B	  	Sales Force Incentive Plan
		
	Exhibit C	  	Technical Agreement
		
	Exhibit D	  	Form of Service Fee Invoice
		
	Exhibit E	  	Form of [***]
		
	Exhibit F	  	Form of [***]
		
	Exhibit G	  	Monthly and Calendar Quarterly Detail Report
		
	Exhibit H	  	Press Release
		
	Exhibit I	  	Sanofi Expenses Per Detail

  
 iii 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 DETAILING AGREEMENT 

This detailing agreement (the “Agreement”) is effective as of August 10, 2015 (the “Effective Date”) by
and between Relypsa, Inc., a Delaware corporation located at 100 Cardinal Way, Redwood City, CA 94063, USA (“Relypsa”) and sanofi-aventis US LLC, a Delaware limited liability company located at 55 Corporate Drive, Bridgewater NJ
08807 (“Sanofi”). Relypsa and Sanofi are referred to individually as a “Party” and collectively as the “Parties”. 

RECITALS 
 A.
Relypsa has developed and filed for regulatory approval by the U.S. Food and Drug Administration a therapeutic product known as Patiromer for use in treating hyperkalemia; 

B. Relypsa intends, after receiving regulatory approval for such product, to promote such product to physicians and allied health care
professionals in the United States; 
 C. Sanofi promotes and details products to such professionals with practices that include
patients potentially suitable for treatment with such product; and 
 D. Relypsa desires to engage Sanofi to detail such product in
the United States upon the terms and subject to the conditions contained herein. 
 In consideration of the foregoing and the covenants and
promises contained in this Agreement, and intending to be legally bound, the Parties agree as follows: 
 1. DEFINITIONS

 The capitalized terms used in this Agreement (other than the headings of the Sections or Articles) have the following meanings set
forth in this Article 1, or, if not listed in this Article 1, the meanings as designated in the text of this Agreement. 

1.1. “Additional Activities” has the meaning set forth in Section 2.5. 

1.2. “[***]” has the meaning set forth in Section 3.1(a)(ii). 

1.3. “Agreement” has the meaning set forth in the preamble hereto. 

1.4. “Affiliate” of a Party means, as of the Effective Date or at any time during the Term, any
individual, sole proprietorship, firm, partnership, corporation, trust, joint venture or other entity, whether de jure or de facto, which, directly or indirectly, controls, is controlled by or is under common control with such Party. As used in this
definition, “control” means direct or indirect ownership of at least fifty percent (50%) of the outstanding equity voting stock (or such lesser percentage which is the maximum allowed to be owned by a foreign corporation in a particular
jurisdiction) of a Party or other entity. 

  
 1 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 1.5. “Alliance Manager” means,
with respect to a Party, an employee of such Party designated by such Party to oversee contact between the Parties for all matters between meetings of the JCC and shall have such other responsibilities as the Parties may agree in writing after the
Effective Date. 
 1.6. “Anti-Kickback Statute” means the Medicare and Medicaid Anti-Kickback
Statute set forth at 42 U.S.C. § 1320a-7b(ii), as amended or superseded, and the regulations promulgated thereunder from time to time. 

1.7. “Applicable Law” means all applicable provisions of any and all federal, national, state,
provincial, and local statutes, laws, rules, regulations, administrative codes, ordinances, decrees, orders, decisions, injunctions, awards, judgments, permits and licenses of or from any governmental authorities, including, without limitation, the
Prescription Drug Marketing Act of 1987 and regulations thereunder, the FD&C Act and regulations thereunder, and HIPAA and regulations thereunder, the Anti-Kickback Statute, the FD&C Act, and HIPAA. 

1.8. “Business Day” means any day other than a Saturday, Sunday or other day that is a recognized
national holiday in the United States or that is a day that commercial banks are authorized to close under the Applicable Laws of, or are in fact closed in, San Francisco, CA or New York, NY. 

1.9. “Calendar Quarter” means each of the three (3) month periods ending
March 31, June 30, September 30 and December 31; provided, however, (a) the first Calendar Quarter of the Term shall extend from the Effective Date to the end of the Calendar Quarter in which the Effective Date
occurs; and (b) the last Calendar Quarter shall extend from the beginning of the Calendar Quarter in which this Agreement expires or terminates until the effective date of such expiration or termination. 

1.10. “Calendar Year” means, for the first Calendar Year, the period beginning on the Effective Date
and ending on December 31, 2015, and for each Calendar Year thereafter, each successive period beginning on January 1 and ending twelve (12) consecutive calendar months later on December 31, except that the last Calendar Year
shall commence on January 1 of the year in which this Agreement expires or terminates and end on the effective date of such expiration or termination. 

1.11. “[***]” has the meaning set forth in Section 5.7. 

1.12. “CME” has the meaning set forth in Section 3.3(b)(i). 

1.13. “Commercially Reasonable Efforts” means efforts a Party would apply to [***] using a level of
effort consistent with the exercise of good faith and prudent scientific and business judgment, which shall [***], taking into account the [***] [***]. 

  
 2 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 1.14. “Commitment Term” has the
meaning set forth in Section 3.2(d). 
 1.15. “[***]” means [***]. 

1.16. “Confidential Information” has the meaning set forth in Section 8.2. 

1.17. “[***] Commencement Date” means the date on which [***]. 

1.18. “Detail” means a face-to-face presentation by a sales representative to a Professional in a
setting appropriate for meaningful dialogue, during which such sales representative makes a presentation with respect to the Product or the applicable disease state therefor, or [***], in each case, to such Professional. 

1.19. “[***] Commencement Date” has the meaning set forth in Section 3.2(a). 

1.20. “Dispute” has the meaning set forth in Section 12.10. 

1.21. “Dispute Notice” has the meaning set forth in Section 12.10. 

1.22. “Dollar” or “$” means the legal tender of the United States. 

1.23. “Effective Date” has the meaning set forth in the preamble hereto. 

1.24. “Expected Details” has the meaning set forth in Section 3.2(b)(iii). 

1.25. “FDA” means the United States Food and Drug Administration and any successor agency thereto.

 1.26. “FD&C Act” means the Food, Drug and Cosmetic Act as amended or superseded, and the
regulations promulgated thereunder from time to time. 
 1.27. “First Commercial Sale” means, with
respect to a Product and a country, the first sale for monetary value for use or consumption by the end user of such Product in such country after regulatory approval for such Product has been obtained in the Territory. Sales prior to receipt of
regulatory approval for such Product, such as so-called “treatment IND sales,” “named patient sales,” and “compassionate use sales,” shall not be construed as a First Commercial Sale. 

  
 3 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 1.28. “Force Majeure Event” has
the meaning set forth in Section 12.9. 
 1.29. “GAAP” means U.S. generally accepted accounting
principles, consistently applied. 
 1.30. “Genzyme” means Genzyme, a company incorporated under the
laws of Massachusetts with its principal office located at 500 Kendall Street, Cambridge, Massachusetts 02142. 

1.31. “HIPAA” means the Healthcare Insurance Portability & Accountability Act of 1996 as
amended or superseded, and the regulations promulgated thereunder from time to time. 
 1.32.
“Indemnitee” has the meaning set forth in Section 10.3(a). 
 1.33. “Indemnitor”
has the meaning set forth in Section 10.3(a). 
 1.34. “Initial Commitment Term” has the meaning set
forth in Section 3.2(d). 
 1.35. “Joint Commercialization Committee” or “JCC” has
the meaning set forth in Section 2.1(a). 
 1.36. “Losses” has the meaning set forth in Section
10.1. 
 1.37. “Market” means, when used as a verb, to market, sell, distribute, Promote or
advertise a product. 
 1.38. “[***]” has the meaning set forth in Section 3.1(a)(ii). 

1.39. “Net Sales” means, with respect to a given period of time, the gross amount recorded from
arms-length transactions by Relypsa, its Affiliates, and (sub)licensees for sales of Product to Third Parties in the Territory in such period, less the following deductions from such gross amounts which are actually incurred, allowed, paid, accrued
or specifically allocated: 
 (a) credits or allowances actually granted for damaged Product, returns or rejections of Product, price
adjustments and billing errors; 
 (b) governmental and other rebates (or equivalents thereof) granted to managed health care organizations,
health management organizations, pharmacy benefit managers (or equivalents thereof), federal, state/provincial, local and other governments, their agencies and purchasers and reimbursers or to trade customers; 

(c) normal and customary trade, cash and quantity discounts, recalls, allowances and credits actually allowed or paid; 

  
 4 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (d) [***]; 

(e) transportation costs, including insurance, for outbound freight related to delivery of the Product to the extent included in the gross
amount invoiced; 
 (f) sales taxes, value added taxes (VAT), and other taxes directly linked to the sales of Product to the extent included
in the gross amount invoiced; 
 (g) the actual amount of any write offs for bad debt directly relating to sales of Product in such period;
and 
 (h) [***]. 
 Sales between or among
Relypsa and its Affiliates or (sub)licensees shall be excluded from the computation of Net Sales, but the subsequent final sales in the Territory to Third Parties by Relypsa or its Affiliates or (sub)licensees shall be included in the computation of
Net Sales. For clarity, sales outside the Territory between or among Relypsa and its Affiliates, (sub)licensees shall be excluded from the computation of Net Sales. 

1.40. “OIG” has the meaning set forth in Section 5.7. 

1.41. “Orange Book” means the FDA’s publication, Approved Drug Products with Therapeutic
Equivalence Evaluations, commonly known as the Orange Book. 
 1.42. “Party” or
“Parties” has the meaning set forth in the preamble hereto. 
 1.43. “Patent” means
any: (a) U.S. patent application, including a provisional application, non-provisional application, continuation application, a continued prosecution application, a continuation-in-part application, a divisional application, a reissue
application, or a re-examination application; and (b) (i) U.S. patent, including utility and design patents; (ii) reissues, substitutions, confirmations, registrations, validations, or re-examinations thereof; and
(iii) extensions, renewals or restorations of any of the foregoing by existing or future extension, renewal or restoration mechanisms, including supplementary protection certificates or the equivalent thereof. 

1.44. “PDMA” means the Prescription Drug Marketing Act of 1987 as amended or superseded, and the
regulations promulgated thereunder from time to time. 
 1.45. “PDUFA Date” means October 21,
2015. 

  
 5 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 1.46. “Person” means an
individual, a corporation, a partnership, an association, a trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

1.47. “Personnel” means Sanofi Personnel and Relypsa Personnel. 

1.48. “PhRMA Code” means the PhRMA Code on Interactions with Health Care Professionals, as amended
from time to time. 
 1.49. “Post-Approval Initial Training” has the meaning set forth in
Section 3.3(c)(i). 
 1.50. “Pre-Approval Initial Training” has the meaning set forth in
Section 3.3(c)(i). 
 1.51. “Primary Detail” means a Detail in which [***]. For purposes of
clarification, prior to the [***] Commencement Date, a Primary Detail shall mean a Detail in which [***]. 
 1.52.
“Product” means a product that contains the active ingredient patiromer sorbitex calcium [***]. 

1.53. “Product Baseline” means, subject to Section 6.1(a)(ii), the following [***] Net Sales of
Product for [***]: (a) for [***] Net Sales of Product equal to [***]; (b) for [***] Net Sales of Product equal to [***]; and (c) for [***], the amount of [***] Net Sales of Product as [***]. 

1.54. “[***]” has the meaning set forth in Section 6.1(b)(i). 

1.55. “Product Incentive Payment” has the meaning set forth in Section 6.1(a)(ii). 

1.56. “Product Trademark” means the trademark VELTASSATM. 

1.57. “Product Promotional and Educational Materials” has the meaning set forth in Section 3.3(a)(i).

 1.58. “[***]” has the meaning set forth in Section 3.3(a)(iii). 

1.59. “Product Target Audience” means, as to the Product, the Professionals called upon by
Sanofi’s nephrology sales force when detailing[***]; provided that Sanofi may [***]. 

  
 6 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 1.60. “Professional” means
physicians and [***] to whom Sanofi [***] (including, without limitation, [***]). 
 1.61.
“Promotion” means the activities normally undertaken by a pharmaceutical company’s sales force to implement marketing plans and directed to encouraging the purchase and appropriate use of a particular prescription
pharmaceutical product. When used as a verb, “Promote” means to engage in such activities. 
 1.62.
“PSR” means individually, a Sanofi PSR or a Relypsa PSR, and “PSRs” means Sanofi PSRs and Relypsa PSRs. 

1.63. “Regional Business Director” means an individual employed by a Party who is responsible for
supervising such Party’s PSRs. 
 1.64. “Relypsa” has the meaning set forth in the preamble
hereto. 
 1.65. “Relypsa Indemnitees” has the meaning set forth in Section 10.1. 

1.66. “Relypsa Personnel” has the meaning set forth in Section 3.2(h)(i). 

1.67. “[***]” has the meaning set forth in Section 3.3(a)(i). 

1.68. “Relypsa PSR” means a member of Relypsa’s sales force. 

1.69. “[***]” has the meaning set forth in Section 3.1(a)(ii). 

1.70. “[***]” has the meaning set forth in Section 3.1(a)(ii). 

1.71. “Sales Management Team” means one (1) or more [***] or [***] of Relypsa or Sanofi, as the case
may be, each of whom shall be primarily responsible for [***] of the [***] within a geographic region of the Territory. 

1.72. “Sales Program Plan” means the plan describing the activities to be performed by each Party in
the Territory during the Commitment Term, as more fully set forth in Section 2.4, and as amended from time to time. The initial Sales Program Plan is attached hereto as Exhibit A. 

  
 7 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 1.73. “Sales Territory” means a
geographic region within the Territory in which Relypsa PSRs shall be assigned by Relypsa and Sanofi PSRs shall be assigned by Sanofi, as the case may be, to Detail the Product. Under [***] may the [***] modify [***]. 

1.74. “[***]” means [***]. 

1.75. “Sanofi” has the meaning set forth in the preamble hereto. 

1.76. “Sanofi Indemnitees” has the meaning set forth in Section 10.2. 

1.77. “Sanofi Minimum Details Commitment” means [***]; provided, however, if [***] (such event, the
“[***]”, and such [***]), then (a) Sanofi shall notify Relypsa thereof within [***] ([***]) days of such [***]; (b) the Sanofi Minimum Details Commitment [***] shall be [***], and (c) any [***] after such notification with
respect to the Sanofi Minimum Detail Commitment shall [***]; provided however, pursuant to this Section, under no circumstance shall the Sanofi Minimum Detail Commitment [***]. For example, (x) there are the following [***]: [***]; and
(y) the Sanofi Minimum Detail Commitment ([***]) is [***], then, absent any [***], the Sanofi Minimum Detail Commitment shall be as follows: [***]. 

1.78. “Sanofi Personnel” has the meaning set forth in Section 3.2(h)(i). 

1.79. “Sanofi PSR” means a member of Sanofi’s nephrology sales force. For clarity, a Sanofi PSR
may be either an employee of Sanofi or [***] under this Agreement. 
 1.80. “[***]” has the meaning set
forth in Section 1.77. 

  
 8 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 1.81. “[***]” has the meaning set forth
in Section 1.80. 
 1.82. “Secondary Detail” means a Detail in which [***]. For purposes of
clarification, prior to the [***] Commencement Date, a Secondary Detail shall mean a Detail in which [***]. 
 1.83.
“Senior Executive Officer” means [***] for Relypsa (or such officer’s designee) and [***] for Sanofi (or such officer’s designee). 

1.84. “Service Fee” has the meaning set forth in Section 6.1(a)(i). 

1.85. “Subject Persons” has the meaning set forth in Section 3.1(c). 

1.86. “Technical Agreements” has the meaning set forth in Section 5.4. 

1.87. “Term” has the meaning set forth in Section 11.1. 

1.88. “Territory” means the United States of America, and its territories and possessions. 

1.89. “Third Party” means any Person other than a Party or any Party’s Affiliates. 

1.90. “Third Party Claims” has the meaning set forth in Section 10.1. 

1.91. “Training Program” means any training of PSRs with respect to the Product as set forth in
Section 3.3(c). 
 1.92. “Working Group” has the meaning set forth in Section 2.2. 

2. GOVERNANCE AND SALES PROGRAM PLANS 

2.1 Joint Commercialization Committee. 

(a) Structure and Procedures. Within [***] ([***]) days after the Effective Date, the Parties shall establish a joint commercialization
committee (the “Joint Commercialization Committee” or the “JCC”), which shall be comprised of [***] from each Party, each with appropriate experience in the promotion of therapeutic products. In addition, the JCC
may from time to time include additional non-voting, ad-hoc representatives from either Party on specific issues as the need arises; provided, however, that such representatives shall not vote or otherwise participate in the decision-making process
of the JCC and are bound by obligations of confidentiality and non-disclosure equivalent to those set 

  
 9 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 forth in Article 8. The chairperson of the JCC shall be a Relypsa JCC member. The
chairperson of the JCC shall distribute a draft agenda reasonably prior to, and meeting minutes reasonably promptly following, each meeting of the JCC. The JCC shall meet periodically as agreed by the Parties, but in no event less than [***] and on
an ad hoc basis thereafter, in each case, in person not more than [***] (with [***]), or by video teleconference or teleconference as mutually agreed by the Parties. Each Party shall bear all expenses it incurs for participating in any JCC meetings,
including all travel and living expenses. At least [***] from each Party must be present at any meeting of the JCC to represent a quorum for voting purposes. The members of the JCC shall seek to make all determinations to be made by them unanimously
following full discussion thereof (with [***] having [***] on each matter). 
 (b) Dispute Resolution. If the JCC is unable to reach
a unanimous decision on any matter for which it has responsibility as set forth in this Agreement within [***] ([***]) days after such matter is first presented to the JCC, then such matter shall be immediately escalated to the Parties’ Senior
Executive Officers for resolution within [***] ([***]) days after such matter is presented to such Senior Executive Officers. If such Senior Executive Officers do not resolve such matter within [***] ([***]) days after it is presented to them, then
[***] shall make the final decision on any such matters or disputes relating to [***]. Notwithstanding the foregoing, [***] may not use such final decision making authority to (i) [***], (ii) [***]; or (iii) [***]. Each Party shall
retain the rights, powers, and discretion granted to it under this Agreement and no such rights, powers, or discretion shall be delegated to or vested in the JCC unless such delegation or vesting of rights is expressly provided for in this Agreement
or the Parties expressly so agree in writing. The JCC shall not have the power to amend, modify or waive compliance with this Agreement, which may only be amended, modified or compliance with which may only be waived, in each case, as provided in
Section 12.3. 
 (c) Duties. Subject to the terms of this Agreement, the JCC shall have the overall responsibility to manage
and coordinate all Promotion activities relating to the Product in the Territory during the Term, and shall in particular: 
 (i) supplement
or update, as applicable, the Sales Program Plan pursuant to Section 2.4; 
 (ii) coordinate the activities of the Parties to implement
and execute any Sales Program Plan approved pursuant to Section 2.4, which activities shall include, with respect to the Product, coordinating all [***] [***], coordinating the [***] and the [***] pursuant to Section [***]; 

  
 10 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (iii) create a Working Group to develop and establish compliance and
training processes contemplated in [***] applicable to the Sales Program Plan, [***], and [***] coordination in sufficient time to permit [***] and [***] no later than [***]; 

(iv) discuss whether a [***] should be [***] pursuant to Section [***]; serve as a forum for the Parties to provide updates on Product
performance and marketing plans of action, including in connection with CME or grant programs pursuant to Section 3.3(b)(iii); 
 (v)
establish and oversee all Working Groups (if any) pursuant to Section 2.2; 
 (vi) resolve disputes that may arise in the Working
Groups; and 
 (vii) perform such other functions as may be assigned to the JCC hereunder. 

2.2 Working Groups. From time to time during the Commitment Term, the JCC may establish and delegate duties to other committees,
sub-committees, or directed teams (each, a “Working Group”) on an “as needed” basis to oversee particular projects or activities. Each such Working Group shall be constituted and shall operate as the JCC determines;
provided that each Working Group shall have [***] from each Party except as otherwise mutually agreed by the Parties. Working Groups may be established on an ad hoc basis as the JCC shall determine. Each Working Group and its
activities shall be subject to the oversight, review and approval of, and shall report to the JCC. The authority of any Working Group shall never exceed that specified for the JCC under this Article 2. 

2.3 Alliance Managers. Each Party shall appoint and notify the other Party of its respective Alliance Manager, including any changes in
such designation from time to time during the Term. Further, the Parties acknowledge and agree that each Party may designate their respective Alliance Manager to be a member of the JCC. 

2.4 Sales Program Plan. 

(a) Sales Program Plan. The principal mechanism by which the Parties shall coordinate their respective Promotion activities for Product
under this Agreement shall be through the Sales Program Plan. The initial Sales Program Plan is attached as Exhibit A. Within [***] ([***]) days after the Effective Date, the Parties shall, by mutual written consent, [***] the Sales Program
Plan as the Parties deem necessary, including any necessary budgets. The [***] Sales Program Plan shall cover the [***]. With respect to periods after the [***], the JCC shall review and update the Sales Program Plan [***], subject to
Section 2.1(b). Each such update shall be agreed upon by the JCC not later than [***] ([***]) days prior to the end of the Calendar Year preceding that to which the update applies. 

  
 11 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (b) General Plan Contents as to the Product. The Sales Program
Plan shall, at a minimum, include: (i) [***] to market the Product in the Territory and thereafter during the Term; (ii) [***] to market the Product in the Territory related to [***]; (iii) Promotion activities to be conducted [***];
(iv) [***], (v) if [***] decides to [***], subject to Section 4.1, a plan pursuant to which such PSRs will [***] or forms for [***]; and (vi) budgets for [***] each Party under this Agreement relating to the Promotion of Product
in the Territory [***]. 
 2.5 Additional Activities. During the Term, the Parties may discuss opportunities to work together on the
following Product-related activities in the Territory: [***] (the “Additional Activities”). The Parties agree that the Additional Activities shall not be part of this Agreement or any Sales Program Plan. Any such Additional
Activities will be subject to a separate written agreement or amendment executed by the Parties that includes [***], and other relevant terms and conditions. 

3. PROMOTIONAL MATERIAL DELIVERABLES AND OBLIGATIONS 

3.1 Grant of Right; [***]; [***]. 

(a) Grant of Right. 
 (i)
Relypsa hereby engages Sanofi, on a [***] basis [***], and Sanofi agrees, to Detail the Product to the Product Target Audience in the Territory, during the Commitment Term, in accordance with the terms of this Agreement. For clarity, [***]. 

  
 12 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (ii) If [***] (the “[***]”), then [***] [***], [***] shall
[***]. [***] shall [***]. If [***] in accordance with this Section 3.1(a)(ii), [***]. If [***], then [***]. For clarity, [***] pursuant to this Section 3.1(a)(ii). Notwithstanding the foregoing, if [***], or [***] (other than [***]) (any such [***],
“[***]”), then (A) within [***] ([***]) days after the end of each [***] thereafter in which [***], Relypsa shall send Sanofi a report detailing the number of [***] delivered; and (B) if [***] ([***]), then [***] (including
[***]) and [***], [***]. For clarity, neither the conduct of [***] nor the [***] as contemplated under this Section 3.1(a)(ii) shall [***]. 

(b) [***]. Subject to Section 3.1(c), [***], [***]; provided however that [***]. [***] agrees that [***]. [***] agrees that
[***]. In addition [***] agree that, [***] [***]. 

  
 13 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (c) [***]. Subject to Section 3.1(b), [***] agrees that,
unless it has [***] (which [***], provided that [***]), [***], in the Territory during the Term of this Agreement [***] (e.g., [***]), [***]. Notwithstanding the foregoing, [***]. Such [***], however, will [***]. [***] agrees that [***], and that
[***]. [***] agrees that [***], and that [***]. In addition, [***] that, [***]. 
 3.2 Co-Promotion Obligations. 

(a) Each Party shall Detail and, in the case of Relypsa, otherwise Promote and Market, the Product within the Territory in accordance
with the terms of this Agreement and the Sales Program Plan. Commencing on the date on which [***] (such date, the “[***] Commencement Date”), until the [***] Commencement Date, Sanofi shall Detail the Product within the Territory,
which Details shall be focused exclusively on [***]; provided that in the event of [***] for the Product, [***] may [***] if [***] performance thereof would [***]. On and after the [***] Commencement Date until the expiration or termination of the
Commitment Term, Sanofi shall Detail the Product within the Territory, as set forth in the Sales 

  
 14 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 Program Plan and pursuant to the Training Program. All Details for the Product to be
performed by Sanofi hereunder shall be [***] Details, unless otherwise agreed by the Parties [***]. [***], Sanofi shall be free, if it so chooses in its sole discretion, to Promote additional products other than the Product (regardless of whether
such additional products are products owned or controlled by Sanofi, its Affiliates or a Third Party). 
 (b) Professional Sales
Representatives (PSRs). 
 (i) Generally. As of the Effective Date and thereafter during the Commitment Term, Sanofi shall engage
Sanofi PSRs that are members of the nephrology sales force that [***] to Professionals within the Product Target Audience to fulfill its Detailing obligations hereunder. 

(ii) Responsibility for Sanofi PSRs. Sanofi has sole authority and responsibility for managing, hiring, firing, disciplining and
compensating the Sanofi PSRs including paying for all benefits, wages, special incentives, employment taxes, and workers’ compensation, and shall pay any and all other costs associated with the Sanofi PSRs, except as expressly provided herein.

 (iii) Expected Details. From the [***] Commencement Date through the end of the [***], Sanofi shall use Commercially Reasonable
Efforts to deliver the number of [***] Details per [***] set forth in the Sales Program Plan (the “Expected Details”). 

(c) Sales Management. 

(i) Each Party shall be responsible for supervising its PSRs. Each Party shall require its PSRs and members of its Sales Management Team not
to identify, either expressly or through implication, themselves as an employee or agent of the other Party. Each Party shall be responsible for any failure of its PSRs or members of its Sales Management Team to comply with such requirement. 

(d) Commitment Term. The “Initial Commitment Term” shall commence as of the [***] Commencement Date and shall
terminate automatically on December 31, 2017. The Initial Commitment Term may be extended in twelve (12) month increments by the mutual written agreement of the Parties achieved at least [***] ([***]) months prior to the end of the existing
Initial Commitment Term (together with the Initial Commitment Term, the “Commitment Term”). 
 (e) Managed Care.
During the Term, the managed care strategy for Product in the Territory including contracting with, and pricing for, managed care customers, shall be the exclusive responsibility and authority of [***]. 

(f) Sales Force Incentive Plan. As soon as practicable, but in any event prior to the [***] Commencement Date, each Party shall
establish and, throughout the Commitment Term, maintain, a sales force incentive plan. Each such plan shall conform with the principles set forth on Exhibit B which shall be binding upon the Parties. 

  
 15 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (g) Employment Qualifications. Sanofi PSRs responsible for
Detailing the Product in the Territory shall have the [***]. 
 (h) Status of Sanofi and its Personnel. 

(i) Relypsa is engaging Sanofi hereunder, and Sanofi shall perform its obligations hereunder, strictly as an independent contractor. Any
Sanofi PSR, Regional Business Director, member of the Sales Management Team and any other employee, contractor or agent that is involved in performing Sanofi’s obligations under this Agreement (collectively, “Sanofi Personnel”)
shall not be, and shall not be considered or deemed to be, employees of Relypsa for any purpose. Any Relypsa PSR, Regional Business Director, member of the Sales Management Team and any other employee, contractor or agent that is involved in
performing Relypsa’s obligations under this Agreement (collectively, “Relypsa Personnel”) shall not be, and shall not be considered or deemed to be, employees of Sanofi for any purpose. Neither Party shall not have any
responsibility for the hiring, termination, compensation, benefits or other conditions of employment or engagement of the Personnel of the other Party. 

(ii) Sanofi Personnel are not eligible to participate in any benefits programs offered by Relypsa to its employees, or in any pension plans,
profit sharing plans, insurance plans or any other employee benefits plans offered from time to time by Relypsa to its employees. Sanofi acknowledges and agrees that Relypsa does not, and shall not, maintain or procure any workers’ compensation
or unemployment compensation insurance for or on behalf of Sanofi Personnel. Sanofi acknowledges and agrees that it shall be solely responsible for paying all salaries, wages, benefits and other compensation which the Sanofi Personnel may be
entitled to receive in connection with the performance of the services hereunder. 
 (iii) Relypsa Personnel are not eligible to participate
in any benefits programs offered by Sanofi to its employees, or in any pension plans, profit sharing plans, insurance plans or any other employee benefits plans offered from time to time by Sanofi to its employees. Relypsa acknowledges and agrees
that Sanofi does not, and shall not, maintain or procure any workers’ compensation or unemployment compensation insurance for or on behalf of Relypsa Personnel. Relypsa acknowledges and agrees that it shall be solely responsible for paying all
salaries, wages, benefits and other compensation which the Relypsa Personnel may be entitled to receive in connection with the performance of the services hereunder. 

3.3 Responsibilities of the Parties. 

(a) Product Materials. 

(i) [***] shall be responsible for [***] the [***], [***] and [***] for the Product in the Territory. Subject to Section 3.3(a)(ii), all
marketing, advertising, promotional, sales, educational (including medical education and disease state materials) and communication materials used by either Party in the Marketing of the Product in the Territory pursuant to this Agreement, in any
format, including audio, visual, digital or computer formats (collectively, the “Product 

  
 16 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 Promotional and Educational Materials”), shall be [***] and shall be subject
to the review and approval by [***] that is responsible for reviewing and approving Product Promotional and Educational Materials (the “[***]”) prior to being used by [***] in the Territory. 

(ii) [***] shall be required to provide Product Promotional and Educational Materials and sales training materials that comply with Applicable
Law and with Relypsa’s policies and procedures. [***] shall be afforded sufficient time after receiving such materials from [***] to review and comment on such materials and shall submit any proposed changes to [***] for review and approval by
[***]. Notwithstanding anything else in this Agreement to the contrary, [***]. If [***], [***] shall [***]. 
 (iii) Relypsa, [***], shall
be responsible for the production and distribution of all Product Promotional and Educational Materials. Neither Sanofi nor Relypsa shall distribute or permit any use of any Product Promotional and Educational Materials that are not approved by the
[***] as provided in Section 3.3(a)(i). Relypsa shall be responsible for distributing Product Promotional and Educational Materials to its Relypsa PSRs, Regional Business Managers and Sales Management Team, and for ensuring use only of Product
Promotional and Educational Materials approved as provided hereunder. [***] shall distribute Product Promotional and Educational Materials to [***] PSRs, Regional Business Managers and Sales Management Team ([***]); provided that [***] shall first
require [***], which shall [***]. Product Promotional and Educational Materials shall be used by Sanofi only for the purposes of this Agreement. [***] will [***]. Notwithstanding anything to the contrary, (A) Sanofi shall [***] to the extent
reasonably necessary for [***] as described herein, (B) the Parties shall immediately cease using any previously approved Product Promotional and Educational Materials upon the written request of Relypsa, and (C) Relypsa shall [***]. 

  
 17 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (b) CME and Grants; Speaker Programs. 

(i) [***] shall have the sole right but not obligation, in its sole discretion, for conducting or arranging for any continuing medical
education (“CME”) or grant programs relating to the Product during the Term. For the avoidance of doubt, [***] relating to the Product during the Term. 

(ii) Relypsa shall have sole responsibility, in its sole discretion, for the creation, approval and implementation of all speaker programs and
other, non-direct promotional activities relating to the Product during the Term. Relypsa may propose (through the JCC) that a given speaker program for the Product should be [***]. Sanofi, however, shall have the [***], with [***]. If [***] decides
to proceed with any [***] for the Product, then such program shall be subject to [***] applicable policies and, for clarity, such [***] shall [***] as one or more Detail(s) under this Agreement. 

(c) Sales Training. 

(i) The JCC shall coordinate initial training of the Sanofi PSRs, Regional Business Directors and Sanofi’s sales trainers with respect to
the Product for both Detailing the Product before and after regulatory approval of the Product in the Territory (such initial training prior to such regulatory approval, the “Pre-Approval Initial Training”, and such initial training
after such regulatory approval, the “Post-Approval Initial Training”). Relypsa shall provide all Relypsa-designated training personnel and training materials to Sanofi, at [***]. Notwithstanding anything else in this Agreement to
the contrary, [***]. Relypsa will also [***] of for the [***] (including [***]) based upon the [***]. Relypsa, [***], shall provide Sanofi with any additional, follow-on, or reminder training materials for the Product that Relypsa provides to the
Relypsa PSRs, in quantities sufficient to supply all Sanofi PSRs, Regional Business Directors and Sanofi’s sales trainers. The Parties will use Commercially Reasonable Efforts to complete the Post-Approval Initial Training as promptly as
possible after regulatory approval has been obtained for the Product in the Territory and prior to the date of First Commercial Sale in the Territory. 

(ii) Relypsa shall be responsible for training Sanofi’s sales trainers on any materials necessary to perform any Post-Approval Initial
Training. 
 (iii) After the Post-Approval Initial Training, Sanofi shall periodically conduct additional trainings with respect to the
Product for Sanofi’s sales trainers and newly hired Sanofi PSRs and the Sanofi Regional Business Directors during the Commitment Term. Relypsa shall also [***] for the [***] 

  
 18 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 [***] related to [***] (including [***]) based upon the [***]. Each Sanofi PSR must pass
Relypsa’s Product Promotion certifications, in each case ((A) and (B)), (A) in order to Detail anytime between the [***] Commencement Date and the [***] Commencement Date and (B) in order to Detail anytime on or after the [***]
Commencement Date; provided that any [***]. Such Product Promotion certifications shall be administered to each Sanofi PSR during the Training Program. Sanofi shall [***] certify to Relypsa that all Sanofi PSRs engaged in activities under this
Agreement have obtained such Product Promotion certification. Relypsa shall have the right, [***], to engage a Third Party [***] to audit such Product Promotion certifications of Sanofi PSRs to confirm compliance with this Section 3.3(c)(iii).
Any such audit will be conducted no more frequently than [***] by an independent expert [***] during regular business hours. Any such independent expert shall report to Relypsa [***]. Such independent expert shall be bound by obligations of
confidentiality to Sanofi substantially similar to the provisions of Article 8, and shall not be permitted to disclose to Relypsa any personally identifiable information or other Confidential Information of Sanofi. 

(iv) Promotional Claims. Sanofi and Relypsa each agree to [***] the claims of [***] for the Product made by the Parties’
respective PSRs and Sales Management Teams to those that are [***] for the Product in the Territory. Neither Party shall make any changes to the final Product Promotional and Educational Materials approved by the [***] pursuant to
Section 3.3(a) above. 
 (d) Communications with PSRs, Regional Business Directors, and Sales Management Team. Each Party shall
have full responsibility for the dissemination of information regarding the Product to its Sales Management Team, Regional Business Directors and PSRs based on the Training Program and the Product Promotional and Educational Materials approved by
Relypsa pursuant to Section 3.3(a) above. All written communications from Sanofi to Sanofi’s Sales Management Team and the Sanofi PSRs concerning the Promotion of the Product to the Product Target Audience shall comply with Sanofi policies
on communication with sales professionals. The Parties shall discuss how potential legitimate communications between Relypsa and any Sanofi PSR or Regional Business Directors of Sanofi or Genzyme addressing potential overlapping target Professionals
or other legitimate need to coordinate Detailing efforts will be coordinated. Notwithstanding anything else set forth herein, under [***] may [***] with, or [***], any [***] without [***] and the [***] in advance by [***]. 

(e) Pricing. Relypsa shall have exclusive responsibility and authority with respect to the pricing of the Product. If Relypsa desires
to [***] pricing for the Product, Relypsa shall notify Sanofi [***] and [***] of such [***] to this Agreement. 

  
 19 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (f) Development; Manufacturing; Distribution; and Sale of Product.

 (i) Relypsa shall be solely responsible for all activities relating to the support for, or conduct of, any pre-clinical or clinical
studies for the Product in the Territory, including post-approval studies, investigator initiated studies, health economics and outcomes/research, and phase 4 clinical studies. Costs and expenses for the foregoing activities shall be [***]. 

(ii) Relypsa shall be solely responsible for all activities relating to manufacture, supply and distribution of the Product (including [***])
in the Territory, including order processing, inventory warehousing, delivery to customers, invoicing and collection of receivables. [***]. 

(iii) During the Term, Relypsa shall use its Commercially Reasonable Efforts to manufacture, supply, Market and distribute the Product
(including [***]) and [***]. 
 (iv) Relypsa shall have the sole right and responsibility to book and account for all sales and to establish
and modify the terms and conditions with respect to the sale of the Product, including any terms and conditions relating to or affecting the price at which the Product shall be sold, any discount attributable to payments on receivables, distribution
of the Product, credit to be granted or refused and the like. Relypsa shall process, administer and pay any and all rebates, chargebacks and discounts for the Product. 

(g) Product-Related Notifications from Relypsa. Relypsa shall promptly notify Sanofi of any information with respect to Product
attributes or Promotion of the Product in the Territory that has not been previously provided to Sanofi and that: (i) Relypsa reasonably believes may [***], (ii) will trigger an obligation under Applicable Law for Sanofi to communicate
with any Third Party about the Product, or (iii) is reasonably necessary or useful in order for Sanofi [***]. 
 3.4 License Grant;
Ownership of Product. 
 (a) License Grant. Subject to the terms and conditions of this Agreement, Relypsa hereby grants to
Sanofi during the Term a non-exclusive, non-sublicensable (except as permitted under Section 3.4(b)) and non-transferable license under all intellectual property controlled by Relypsa that claims or covers the Product, solely as and to the
extent necessary for Sanofi to perform its obligations under this Agreement in the Territory. 

  
 20 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (b) [***] and Subcontracting. Sanofi shall have [***] to
[***] to any Third Party any of its rights under this Agreement without the prior written consent of Relypsa, [***], including its rights under Section 3.1(a). In no event shall [***] be deemed to relieve Sanofi of its liabilities or
obligations to Relypsa under this Agreement. Sanofi expressly acknowledges and agrees that it shall remain fully and unconditionally obligated and responsible for the full and complete performance of all of its obligations under the terms and
conditions of this Agreement whether or not such performance is carried out by Sanofi or any of its Affiliates, permitted sublicensees or subcontractors. 

(c) Product Trademark. The Product shall be Detailed by Sanofi in accordance with the terms and conditions of this Agreement under the
Product Trademark. All use of the Product Trademark by Sanofi shall at all times inure to the benefit of Relypsa as owner of the Product Trademark. Relypsa’s corporate logo shall be used on all Product Promotional and Educational Materials and
all Product packaging. Sanofi shall use the Product Trademark, other trademarks, trade names, and copyrighted materials of Relypsa only as authorized by Relypsa, and Sanofi shall take all reasonable precautions to ensure the protection of
Relypsa’s rights in such trademarks, trade names and materials. During the performance of their responsibilities under this Agreement, [***] shall use [***] established practices with regard to possible Product [***] to notify Relypsa of any
such possible Product [***] of which any [***] become aware. Sanofi shall not at any time use the Product Trademark, other trademarks, trade names and copyrights of Relypsa in a manner inconsistent with their established policy for use of such
intellectual property unless otherwise authorized by Relypsa in advance in writing. 
 (d) Ownership of Product. Relypsa retains,
and shall during the Term retain, all proprietary and property interests in and to the Product until the point of sale. Relypsa’s National Drug Code (NDC) number shall at all times remain on the Product. Sanofi shall not have nor represent that
it has any control over, or proprietary or property interests in, the Product. 
 (e) No Additional Licenses or Rights. Except as
expressly set forth in Section 3.4(a), nothing in this Agreement grants Sanofi any license, right, title or interest in or to any Patents, trademarks, know-how, trade secrets or other intellectual property rights owned or controlled by Relypsa
(either impliedly, by estoppel or otherwise). Nothing in this Agreement grants Relypsa any license, right, title or interest in or to any Patents, trademarks, know-how, trade secrets or other intellectual property rights owned or controlled by
Sanofi (either impliedly, by estoppel or otherwise), including the right to use the Sanofi name or any Sanofi trademark. This Agreement conveys no implied rights or licenses to either Party. 

3.5 No Distribution by Sanofi. The Parties recognize that Sanofi may from time to time receive orders for the Product directly from
Third Parties. In such event, Sanofi shall promptly advise the customer that Sanofi is not authorized to accept orders for the Product and it shall use its Commercially Reasonable Efforts to provide the customer with adequate information to complete
the customer’s order directly with Relypsa, its Affiliates or agents. 

  
 21 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 4. [***] 

4.1 [***] of [***] . The Parties acknowledge that, as of the Effective Date, Relypsa [***] to [***] using [***]. Relypsa shall
determine, in its sole discretion, the [***] for [***] as part of the Sales Program Plan. If Relypsa [***], then Relypsa shall [***], and the Parties shall [***] for Relypsa to [***], and for [***] to [***], [***] for [***]. 

5. REGULATORY COMPLIANCE 

5.1 Marketing Authorization and Regulatory Matters. Relypsa shall have the sole right and responsibility between the Parties to file and
maintain the authorization to Market the Product as a pharmaceutical product in the United States. Relypsa shall own or hold legal responsibility and maintain the new drug application with respect to the Product and shall retain responsibility for
all regulatory filings for the Product as required under the FD&C Act and Applicable Law. 
 5.2 Recalls. Relypsa shall have sole
responsibility for, and shall make all decisions with respect to, any recall, market withdrawals or any other corrective action related to the Product. If practical under the circumstances, prior to making any such recall decision, Relypsa shall
notify Sanofi’s Alliance Manager. At Relypsa’s request, Sanofi shall provide reasonable assistance to Relypsa in conducting such recall, market withdrawal or other corrective action, provided that Relypsa shall [***] in providing such
assistance. 
 5.3 Returns. Relypsa shall not engage in any action to encourage the return of Product to Sanofi. Any Product returned
to Sanofi in error may, in [***], be either rejected or returned as directed by Relypsa to Relypsa’s nearest facility, with [***] costs therefor to be [***]. 

5.4 Adverse Drug Experiences and Product Complaints. Relypsa shall be solely responsible for processing all adverse event reports,
field reports and Product complaints as required under Applicable Law. Both Parties shall collaborate in developing procedures related to adverse event and Product complaint reporting, with such agreed upon procedures to be evidenced by one or more
separate agreements attached not later than [***] ([***]) days after the Effective Date as Exhibit C to this Agreement (collectively, the “Technical Agreements”). 

  
 22 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 5.5 Product Inquiries. If Sanofi, or any Sanofi PSR, receives any
inquiries about the Product, Sanofi’s responsibilities shall be as follows: 
 (a) For questions that Sanofi PSRs are unable to
answer concerning Product identification, Product availability or general inquiries, Sanofi shall contact the appropriate person and department designated in writing by Relypsa (or such other Person, at the address and phone number as Relypsa may
designate from time to time by written notice to Sanofi). 
 (b) For medical inquiries, including those related to information
outside of labeling or which Sanofi PSRs are unable to answer, such medical inquiries shall go to Relypsa’s Medical Information Department. 

5.6 Communications with FDA. All communications with the FDA concerning the Product shall be the sole responsibility of Relypsa and,
unless required by Applicable Law, shall be initiated solely by Relypsa. Sanofi shall provide to Relypsa prompt notice if the FDA or other governmental authority in the Territory contacts Sanofi regarding the Product. Commencing upon the date that
the label for the Product has been established by the FDA, Relypsa shall provide to Sanofi [***] notice of [***] with the FDA or other governmental authority in the Territory with respect to the Product which would [***] or is [***]. Sanofi shall
provide reasonable assistance, at [***], to Relypsa with respect to any such communications or interactions with the FDA described in this Section 5.6 to the extent deemed necessary by Relypsa. 

5.7 [***]. If [***] becomes subject to a binding [***] (“[***]”) with the [***] (the [***]), [***] agrees to notify
[***] in writing within [***] ([***]) days of the effective date of such [***]. If under such [***], the [***] takes the position that [***] is a “[***]” or “[***]” (as such term is defined in such [***])), [***] will provide
written notice of such designation of [***] promptly and, use good faith efforts to [***] to make [***] or regarded as [***]. 
 6.
COMPENSATION. 
 6.1 Compensation Arrangement. 

(a) Payments. Subject to the provisions of this Section 6.1, Relypsa hereby agrees to compensate Sanofi by paying the sum of the
Service Fee in Section 6.1(a)(i) below plus the Product Incentive Payment in Section 6.1(a)(ii), as provided in Section 6.2. 

  
 23 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (i) Service Fee. Beginning as of the Effective Date, Relypsa
shall pay Sanofi on a [***] basis a non-refundable service fee (the “Service Fee”) as follows. Within [***] ([***]) days after the end of each [***], Sanofi shall send Relypsa an invoice for the Service Fee in the form attached
hereto as Exhibit D equal to: [***] the number of [***] Details performed by Sanofi [***] multiplied by [***]. Relypsa shall pay any undisputed Service Fee within [***] ([***]) days after receipt of such invoice. Furthermore, Relypsa shall
not be obligated to pay any portion of the Service Fee that is applicable to [***] Details that [***] in the Sales Program Plan. The Parties shall use Commercially Reasonable Efforts to resolve any disputes concerning an invoice in good faith and in
a reasonable period. 
 [***] 
 [***]. 

(ii) Product Incentive Payment. Subject to Section 6.1(b)(ii) and Section 6.1(c), Relypsa shall pay to Sanofi an amount equal
to [***] percent ([***]%) of the amount of Net Sales of Product for [***] that are above the Product Baseline for each such [***] within [***] ([***]) days after the end of such [***] (the “Product Incentive Payment”). The Parties
may extend the Product Incentive Payment for [***] by agreeing in writing to a Product Baseline for such [***] no later than [***] before the start of such [***]. Relypsa shall send Sanofi a report of [***] in the form attached hereto as Exhibit
E within [***] ([***]) days of the end of each [***]. The Parties agree that, without limitation to Section 6.1(b)(i), in the event that (A) [***] and (B) [***], [***] shall notify [***] and, promptly following such notification,
the Parties shall negotiate in good faith for a period of [***] ([***]) days a [***]; provided, however, [***] (including with respect to [***]). In the event the Parties are unable to agree to [***] within such period, for clarity,
Section 12.10 shall apply. In the event of a [***] in a given [***], then if the [***] are less than the [***], the Product Incentive Payment payable in such [***] shall be equal to [***]. 

  
 24 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (iii) All out-of-pocket Product-related expenditures incurred by Sanofi
in furtherance of this Agreement with respect to Product, including expenses incurred in connection with [***] (including [***]), [***] (other than in connection with [***]), [***] (including [***]), and [***], shall be [***]; provided that such
[***] Relypsa prior to [***] or are within budgets established in the Sales Program Plan. Sanofi shall send Relypsa [***] on a [***] basis in the form attached hereto as Exhibit F, and [***] within [***] ([***]) days after receipt [***]. 

(iv) Unless otherwise provided in this Agreement, Sanofi and Relypsa shall each be responsible for all other costs and expenses such Party
incurs that are associated with their respective obligations under this Agreement. 
 (b) Adjustments for [***] Certain
Obligations. 
 (i) [***]. If Relypsa [***] the Product in the Territory [***], including [***] (each situation, a “[***]”),
then as to each [***], Relypsa shall notify Sanofi thereof and Relypsa shall have [***] ([***]) days from the commencement date of such [***] to cure such [***]. If after such [***] ([***]) day period, such [***] has not been cured and solely to the
extent resulting from such [***] (e.g., not because Sanofi is in breach of this Agreement), Sanofi does not meet the Sanofi Minimum Detail Commitment for the [***] in which any such [***] occurred, Sanofi shall be deemed to have met the Sanofi
Minimum Detail Commitment for Product for the purposes of Section 6.1(b)(ii) for such [***]. 
 (ii) Failure by Sanofi to meet Minimum
Commitments. Without limitation of Section 11.2(b), if Sanofi does not meet the Sanofi Minimum Details Commitment (for clarity, subject to Section 3.1(a)(ii)) for [***] [***] for reasons unrelated to a [***] or a failure by [***] to
[***] and such shortfall is not made up [***], then Relypsa shall not be obligated to make any Product Incentive Payment for [***]. 

  
 25 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (c) Effect of Termination on Payments. 

(i) In the event this Agreement is terminated by Sanofi pursuant to Section 11.2(a), [***] shall [***]. 

(ii) In the event this Agreement is terminated by Relypsa pursuant to Section 11.2(a) or Section 11.2(e), or by Sanofi pursuant to
Section 11.2(i), the [***]. 
 (iii) In the event this Agreement is terminated by Relypsa pursuant to Section 11.2(b), if as of
the end of the calendar year in which this Agreement is so terminated, Sanofi is [***] pursuant to the terms of Section 6.1(a)(ii) and Section 6.1(b), [***] shall pay [***], and if Sanofi is [***] pursuant to the terms of
Section 6.1(a)(ii) and Section 6.1(b), the [***]. 
 (iv) In the event this Agreement is terminated by either Party pursuant to
Section 11.2(c), Section 11.2(d), Section 11.2(f), Section 11.2(g) and Section 11.2(h), then after the end of the calendar year in which this Agreement is terminates, [***] shall pay [***]. For example, if the Agreement was
in effect for ten (10) days in a Calendar Year, [***]. 
 6.2 Payment Terms. 

(a) Payment of Compensation Payments. Subject to the other terms of this Agreement, Relypsa shall make any payments owed to Sanofi
hereunder in Dollars in accordance with Section 6.2(c). 
 (b) Taxes. 

(i) Relypsa may withhold taxes, duties, levels fees or charges if revenue authorities in such country require the withholding of taxes,
duties, levies, fees or charges on any amounts paid or owed by Relypsa hereunder. Relypsa shall deduct any such taxes, duties, levies, fees or charges from such payment and shall pay such taxes, duties, levies, fees or charges to the proper taxing
authority on behalf of the payee. Relypsa agrees to assist and provide evidence of payment of such tax promptly to Sanofi in claiming exemption from such deductions or withholdings under any applicable double taxation or similar agreement or treaty.

  
 26 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (ii) If either Party [***] the other Party [***], then such [***] to
the [***], and the [***]. 
 (c) Wire Transfers. All payments hereunder shall be made to Sanofi from a bank located in the United
States by bank wire transfer in immediately available funds to Sanofi in accordance with the wire instructions set forth below, which may be changed only by written notice to Relypsa from the Alliance Manager of Sanofi under Section 12.7. 

 

																					
	Bank:	  	 	[***]	  	  		  		  		  		  		  		  		  	
	Bank Address:	  	 	[***]	  	  		  		  		  		  		  		  		  	
	Routing Number:	  	 	[***]	  	  		  		  		  		  		  		  		  	
	SWIFT Code:	  	 	[***]	  	  		  		  		  		  		  		  		  	
	Account Number:	  	 	[***]	  	  		  		  		  		  		  		  		  	
	Account Type:	  	 	[***]	  	  		  		  		  		  		  		  		  	
	Account Currency:	  	 	USD	  	  		  		  		  		  		  		  		  	
	Account Holder Name:	  	 	[***]	  	  		  		  		  		  		  		  		  	
	Ref:	  	 	[***]	  	  		  		  		  		  		  		  		  	

 7. RECORD KEEPING; REPORTING AND
AUDITS 
 7.1 Record Keeping. During the term and for a period of [***] ([***]) years thereafter, unless otherwise
required by Applicable Law, each Party shall keep complete and accurate records in accordance with its business retention policies, consistent with its internal standards in the United States as of the date hereof, to permit the other Party to
confirm the completeness and accuracy of (a) the information presented by Sanofi to Relypsa in the statement of Details performed (or as provided under Section 3.1(a)(ii), the information presented by Relypsa to Sanofi in the statement of
Details performed), (b) the information presented by Sanofi to Relypsa in any statement of expenses reimbursed by Relypsa hereunder, (c) the calculation of Net Sales by Relypsa, and (d) the information presented by Relypsa to Sanofi
in the statements relating to the Product Incentive Payment payable to Sanofi. 

  
 27 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 7.2 Financial Audit Rights. Subject to the other terms of this
Section 7.2, at the request of either Party upon at least [***] prior written notice to the other Party, not more than [***], and at the expense of the requesting Party (except as otherwise provided herein), the other Party shall permit an
independent certified public accountant reasonably selected by the requesting Party and reasonably acceptable to the other Party to inspect (during regular business hours) the relevant records required to be maintained by the other Party under
Section 7.1. At the auditing Party’s request, the accountant shall be entitled to review the applicable records relating to the information described in Section 7.1 for the sole purpose of determining the correctness of such
information. In every case the accountant must have previously entered into a confidentiality agreement with both Parties containing provisions substantially similar to the provisions of Article 8. Such independent accountant shall [***]. Results of
any such review shall be made available to both Parties and shall be binding on both Parties. The cost of the audit shall be borne by the auditing Party, unless the audit reveals (a) an underpayment by Relypsa of any amounts due to Sanofi
hereunder or (b) a deficiency in the number of Details reported by Sanofi to Relypsa, in each case ((a) and (b)), of at least [***] percent ([***]%) from the applicable amounts reported hereunder, in which case, in the case of clause (a),
Relypsa shall bear the cost of such audit and, in the case of clause (b), Sanofi shall bear the cost of such audit. If such audit reveals a discrepancy in the amount paid by Relypsa to Sanofi hereunder (including as a result of the number of Details
reported by Sanofi to Relypsa hereunder), Relypsa shall reimburse Sanofi for any underpayment and Sanofi shall reimburse Relypsa for any overpayment, as applicable, within [***] ([***]) days of the accountant’s determination. 

7.3 Monthly Reports. Within [***] after the end of each month, in each case during each Commitment Term, Sanofi shall provide to
Relypsa a report in the form attached hereto as Exhibit G listing the number of Details performed in the immediately preceding [***] by Sanofi PSRs, which report shall be non-binding on both Parties. 

8. CONFIDENTIALITY 

8.1 Non-use and Nondisclosure Obligations. 

(a) Each Party agrees not to use Confidential Information (as hereinafter defined) furnished by the other Party for any purpose other
than for purposes of performing its obligations under this Agreement. Each Party shall treat Confidential Information furnished by the other Party with the same degree of care as it treats its own proprietary information, but in any case, with no
less degree than reasonable care and shall not disclose the same, for a period of [***] ([***]) years after the Effective Date of this Agreement or [***] ([***]) years following the expiration or earlier termination of this Agreement, whichever is
[***], to any Third Party without the prior written consent of the Party which furnished such information. 
 (b) If, to carry out
its obligations under this Agreement, a Party must disclose Confidential Information of the other Party to a Third Party, such disclosing Party shall first require any such Third Party to be bound by the confidentiality provisions of this Agreement
by requiring such Third Party to enter into an appropriate written confidentiality agreement. This provision shall not be applicable to confidential information disclosed by the Parties pursuant to Section 8.2. 

  
 28 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 8.2 Confidential Information. A Party’s
“Confidential Information” refers to all information disclosed to the other Party or its Affiliates, on or after the Effective Date, pursuant to this Agreement, including, for Relypsa, non-public information relating to the [***] of
the Product, and including, for Sanofi, [***]. Notwithstanding the foregoing or any other provision in this Agreement to the contrary, a Party’s Confidential Information shall not include: 

(a) information which at the time of disclosure is in the public domain or thereafter becomes part of the public domain through no
breach of this Agreement by the receiving Party; 
 (b) information which the receiving Party can establish by competent written
proof was in its possession at the time of disclosure by the disclosing Party and was not acquired, directly or indirectly, from the disclosing Party; 

(c) information which becomes available to the receiving Party, or its Affiliate, from an independent third source not bound by an
obligation of secrecy to the Disclosing Party with respect to the Confidential Information, effective as of the time such information is properly disclosed; or 

(d) information which the receiving Party can establish by competent written proof was independently developed by the receiving Party
without the reference to or any other use of the disclosing Party’s Confidential Information. 
 8.3 Disclosure Required by Law.
Notwithstanding anything else in this Agreement, the receiving Party shall not be prohibited from disclosing Confidential Information of the disclosing Party to the extent such information is required to be disclosed to governmental agencies or by
legal process or Applicable Laws, in which case the receiving Party shall notify the disclosing Party in writing of the need for such disclosure and shall cooperate with the disclosing Party to seek confidential treatment of the information. 

8.4 Remedies. The receiving Party agrees that its obligations under this Article 8 are necessary and reasonable to protect the
disclosing Party’s business interests and that the failure to comply with this Article 8 could cause irreparable harm and significant injury, the degree of which may be difficult to ascertain. The receiving Party further acknowledges and agrees
that in the event of any actual or threatened breach of this Agreement, the disclosing Party may have no adequate remedy at law and, accordingly, that the disclosing Party shall have the right to seek an immediate injunction enjoining any breach or
threatened breach of this Agreement, as well as the right to pursue any and all other rights and remedies available at law or in equity for such breach or threatened breach. 

  
 29 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 8.5 Return of Confidential Information. Upon termination of this
Agreement and upon the request of the disclosing Party, the receiving Party shall return all such Confidential Information and copies thereof in its possession; provided, however, that one (1) copy of the disclosing Party’s
Confidential Information may be retained by the legal department of the receiving Party solely for the purpose of determining compliance with this Article 8. 

8.6 Disclosure of Agreement, Publicity and Publications. The terms of this Agreement shall be deemed the Confidential Information of
both Parties. Except as expressly provided otherwise in this Article 8, neither Relypsa nor Sanofi shall release to any Third Party or publish in any way any non-public information with regard to the terms of this Agreement or concerning their
cooperation without the prior written consent of the other, which consent shall not be unreasonably withheld, conditioned or delayed. Subject to the foregoing, Relypsa shall issue a press release, public statement or disclosure regarding this
Agreement substantially in the form of the press release attached as Exhibit H. 
 9. REPRESENTATIONS,
WARRANTIES AND COVENANTS 
 9.1 Mutual Representations and Warranties and Covenants.
As of the Effective Date, each of Relypsa and Sanofi hereby represents, warrants and covenants to the other Party that: 
 (a) it is
a corporation or entity duly organized and validly existing under the laws of the State or other jurisdiction of its incorporation or formation; 

(b) the execution, delivery and performance of this Agreement by such Party has been duly authorized by all requisite corporate action
and does not require any shareholder action or approval; 
 (c) it has the power and authority to execute and deliver this Agreement
and to perform its obligations hereunder and this Agreement constitutes and when executed shall constitute, its legal, valid and binding obligation, enforceable in accordance with its terms, except as may be limited by bankruptcy and equitable
principles limiting specific performance; 
 (d) the execution, delivery and performance by such Party of this Agreement and its
compliance with the terms and provisions hereof does not and shall not conflict with or result in a breach of any of the terms and provisions of or constitute a default under: (i) a loan agreement, guaranty, financing agreement, agreement affecting
a product or other agreement or instrument binding or affecting it or its property; (ii) the provisions of its charter or operative documents or bylaws; or (iii) any order, writ, injunction or decree of any court or governmental authority
entered against it or by which any of its property is bound; and 
 (e) during the Term, it and its Affiliates shall comply with
Applicable Law in connection with its activities hereunder. 

  
 30 

 EXECUTION VERSION 

 
 (f) Each Party represents, warrants and covenants that such
Party has not entered into, and will not during the Term enter into, any agreements with any Third Party that conflicts with the rights granted to the other Party, or would prevent such Party from performing its obligations, pursuant to this
Agreement in any material respect. 
 (g) Each Party represents to the other that neither it nor its employees or contractors
performing services with respect to the Product are currently excluded, debarred, suspended or otherwise ineligible to participate in the Federal health care programs or in Federal procurement or nonprocurement programs, or has been convicted of a
criminal offense that falls within the ambit of 42 U.S.C. 1320a-7(a) and that could reasonably result in such Party or individual being excluded, debarred, suspended or otherwise declared ineligible. Each Party further represents that it has
policies to screen all prospective employees and contractors prior to engaging their services and determine whether any existing employee or contractor becomes excluded, debarred, suspended or otherwise declared ineligible. Each Party has policies
and procedures in effect that require, and it shall otherwise require, all employees and contractors to immediately disclose to such Party any action or event that could reasonably result in such employee or contractor becoming so excluded,
debarred, suspended or otherwise declared ineligible. In addition, each Party shall maintain during the Term a compliance program designed to prevent and detect violations of Applicable Laws in connection with this Agreement, including such
violations relating to their respective activities hereunder, which program shall be designed in a manner consistent with the Compliance Program Guidance for Pharmaceutical Manufacturers issued in April 2003 by the HHS Office of Inspector General.
Further, each Party agrees that it will cause its respective PSRs performing activities in the Territory with respect to the Product to act in accordance with industry standards, including the Pharmaceutical Research and Manufacturers of America
Code on Interactions with Healthcare Professionals and the American Medical Association’s Guidelines on Gifts to Physicians (in each case, including any updated therefor), and in a professional, ethical and lawful manner generally consistent
with the manner in which such Party promotes other products in the Territory. 
 9.2 Relypsa Representations and Warranties and
Covenants. As of the Effective Date, Relypsa hereby represents, warrants and covenants to Sanofi that: 
 (a) Relypsa controls
all intellectual property claiming or covering the Product necessary for each Party to perform its obligations under this Agreement in the Territory. 

(b) There is no [***] by the activities contemplated herein with respect to the Product. Relypsa has not [***] that the
commercialization of the Product in the Territory as contemplated herein [***] owned or control by any Third Party. 
 (c) No Person
has asserted in writing that any [***] are [***] [***], in whole or in part. To Relypsa’s knowledge, [***]. 

  
 31 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (d) The information for the Product submitted to the FDA in or
in connection with the NDA for regulatory approval for the Product represents, in all material respects, an accurate reflection of all material information known to Relypsa that is relevant to the safety and efficacy profile of the Product. 

9.3 DISCLAIMER. EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, EACH PARTY HEREBY DISCLAIMS ALL OTHER WARRANTIES, WHETHER WRITTEN OR
ORAL, EXPRESS AND IMPLIED, INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR FREEDOM FROM INFRINGEMENT OF THIRD PARTY RIGHTS. 

10. INDEMNIFICATION, LIABILITY LIMITS AND INSURANCE. 

10.1 Indemnification by Sanofi. Subject to Section 10.3, Sanofi shall indemnify, defend and hold Relypsa, and its officers,
directors, agents, employees, and Affiliates (collectively, the “Relypsa Indemnitees”), harmless from any and all losses, damages, liabilities, costs and expenses (including reasonable attorneys’ fees incurred hereunder)
(collectively, “Losses”) in connection with any and all claims, causes of action, investigations or actions of Third Parties (collectively, “Third Party Claims”) arising out of or in connection with: (a) the
breach by Sanofi of any of its representations, warranties, covenants or obligations under this Agreement; or (b) any negligence, gross negligence or willful misconduct of any Sanofi Indemnitee under this Agreement, except, in each case, to the
extent such Third Party Claims arise out of or in connection with any circumstance set forth in Section 10.2 of this Agreement, but in no event shall Sanofi be liable under this Section 10.1 for use of any promotional or training materials
provided by Relypsa to Sanofi hereunder that are used by Sanofi in accordance with this Agreement. 
 10.2 Indemnification by
Relypsa. Subject to Section 10.3, Relypsa shall indemnify, defend and hold Sanofi, and its officers, directors, agents, employees, and Affiliates (collectively, the “Sanofi Indemnitees”), harmless from any Losses in
connection with any and all Third Party Claims arising out of or in connection with: (a) the breach by Relypsa of any of its representations, warranties, covenants or obligations under this Agreement; (b) the [***], including any [***],
any Third Party Claims arising out of or in connection with any [***] in connection with the Marketing, advertising or sale of the Product (including training materials and Product Promotional and Educational Materials), (c) any claim that the
[***], or (d) any negligence, gross negligence or willful misconduct of any Relypsa Indemnitee under this Agreement, except in each case to the extent such Third Party Claims arise out of any circumstance set forth in Section 10.1 of this
Agreement. 

  
 32 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 10.3 Procedure. A Party’s obligation to defend, indemnify
and hold harmless the other Party under this Article 11 shall be conditioned upon the following: 
 (a) A Party seeking
indemnification under this Article 10 (the “Indemnitee”) shall give prompt written notice of the claim to the other Party (the “Indemnitor”). 

(b) Each Party shall furnish promptly to the other Party, copies of all papers and official documents received in respect of any Third
Party Claims. The Indemnified Party shall cooperate as reasonably requested by the Indemnifying Party in the defense against any Third Party Claims. 

(c) The Indemnitor shall have the right to assume and control the defense of the indemnification claim at its own expense with counsel
selected by the Indemnitor and reasonably acceptable to the Indemnitee, except that an Indemnitee shall have the right to retain its own counsel, with the fees and expenses to be paid by the Indemnitee, if representation of such Indemnitee by the
counsel retained by the Indemnitor would be inappropriate due to actual or potential differing interests between such Indemnitee and any other party represented by such counsel in such proceedings. If the Indemnitor does not assume the defense of
the indemnification claim as described in this Section 10.3(c), the Indemnitee may defend the indemnification claim but shall have no obligation to do so. The Party controlling such action shall not settle or compromise the indemnification
claim in any manner that would: (i) require any payment by the other Party; (ii) require an admission of legal wrongdoing in any way by the other Party; or (iii) effect an amendment of this Agreement, in each case without the prior
written consent of the other Party, which consent shall not be unreasonably withheld, delayed or conditioned. The Indemnitee shall reasonably cooperate with the Indemnitor at the Indemnitor’s expense and shall make available to the Indemnitor
all pertinent information under the control of the Indemnitee, which information shall be subject to Article 8. 
 (d) The Indemnitee
shall not settle or compromise any Third Party Claim without the prior written consent of the Indemnitor. The Indemnitor shall not be liable for any settlement or other disposition of Third Party Claims by the Indemnitee which is reached without the
written consent of the Indemnitor, which consent shall not be unreasonably withheld, conditioned, or delayed. 
 10.4 Limitations of
Liability. 
 (a) SUBJECT TO SECTION 10.4(c), NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR SPECIAL, INDIRECT, INCIDENTAL,
PUNITIVE, OR CONSEQUENTIAL DAMAGES (INCLUDING DAMAGES RESULTING FROM LOSS OF USE, LOSS OF PROFITS, INTERRUPTION OR LOSS OF BUSINESS, OR OTHER ECONOMIC LOSS) ARISING OUT OF THIS AGREEMENT OR WITH RESPECT TO A PARTY’S PERFORMANCE OR
NON-PERFORMANCE HEREUNDER. 

  
 33 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (b) SUBJECT TO SECTION 10.4(c), SANOFI’S AGGREGATE
LIABILITY TO RELYPSA UNDER OR IN RELATION TO THIS AGREEMENT SHALL BE LIMITED TO THE [***] UNDER THIS ARTICLE 10. 
 (c) The
limitations set forth in Section 10.4 shall not apply with respect to: (i) damages required to be paid to a Third Party as part of a Third Party Claim for which a Party provides indemnification under Section 10.1 or Section 10.2;
or (ii) breach of a Party’s obligations under Article 8 or a Party’s payment obligations under this Agreement. 
 (d)
Relypsa’s sole and exclusive remedies for Sanofi’s failure to achieve the Expected Details in any given [***] shall be, if applicable, (i) Sanofi’s failure to receive the Product Incentive Payment for such [***] pursuant to
Section 6.1(a)(ii) and (ii) the right of Relypsa to terminate this Agreement pursuant to and in accordance with Section 11.2(b). 

10.5 Insurance. Each Party shall carry commercial general liability insurance against claims judgments, liabilities and expenses for
which it is obligated to indemnify the other Party under this Article 10, in such amounts and with such deductibles as are customary at the time for companies engaged in a similar business. Each Party shall use Commercially Reasonable Efforts to
provide the other Party with [***] ([***]) days prior written notice of any material modification of its insurance policy. 
 11.
TERM AND TERMINATION 
 11.1 Term. The term of this Agreement (the
“Term”) shall commence as of the Effective Date and shall expire at the end of the Commitment Term, unless earlier terminated pursuant to Section 11.2. 

11.2 Termination Rights. 

(a) Material Breach. If a Party materially breaches this Agreement, and such material breach is not cured within [***] ([***]) days
(with respect to a breach of a Party’s payment obligations hereunder) or [***] ([***]) days (with respect to all other obligations hereunder), as applicable, after receipt of notice thereof from the other Party, the non-breaching Party shall be
entitled to terminate this Agreement by giving written notice to the other Party, such termination to take effect immediately on receipt of such notice. 

(b) Failure to Meet the Sanofi Minimum Details Commitment. If Sanofi fails to perform the Sanofi Minimum Details Commitment during any
[***] following First Commercial Sale, then Relypsa shall be entitled to terminate this Agreement by giving written notice to Sanofi, such termination to take effect [***] receipt of such notice. 

(c) Regulatory Approval Delay. Either Party shall have the right to terminate this Agreement (i) [***] ([***]) days after the
PDUFA Date if Relypsa receives a [***] from the FDA that is [***] within [***] ([***]) months from the PDUFA Date, or (ii) if Relypsa has not obtained regulatory approval from the FDA to sell the Product in the Territory on or before [***].

  
 34 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 (d) Product Safety. Either Party shall have the right to
terminate this Agreement upon notice to the other Party, if the Product is permanently withdrawn from the Territory for safety reasons, such termination to take effect immediately on receipt of such notice. 

(e) [***]. Each Party may terminate this Agreement if such Party is found to be or deemed a “[***]” or “[***]” for
purposes of any [***] that is binding upon the other Party. Any such termination shall be effective thirty (30) days after the receipt of written notice of such termination by the Party that is subject to such [***], unless the terminating
Party is found or no longer deemed to be a “[***]” or “[***]” for purposes of such [***] prior to expiration of such thirty (30) day period. 

(f) Convenience. Beginning on the first anniversary of the date of First Commercial Sale in the Territory, either Party shall have the
right to terminate this Agreement without cause upon providing at least [***] ([***]) days’ prior written notice to the other Party. 

(g) Mutual Agreement. This Agreement may be terminated at any time by mutual written consent of the Parties. 

(h) Bankruptcy or Insolvency. Either Party shall have the right to terminate this Agreement if the non-notifying Party becomes
insolvent or makes an assignment for the benefit of creditors, or if bankruptcy or insolvency proceedings are instituted against the non-notifying Party or on the non-notifying Party’s behalf, such termination to take effect immediately on
receipt of such notice. 
 (i) [***]. Sanofi shall have the right to terminate this Agreement by written notice to Relypsa if the
number of Sanofi PSRs decreases at any time (in the aggregate) by more than [***] percent ([***]) of the number of Sanofi PSRs Sanofi has of the Effective Date, such termination to take effect sixty (60) days after receipt of such notice by
Relypsa. 
 11.3 Effect of Termination. Upon any termination or expiration of this Agreement, Sanofi shall immediately cease any and
all Promotion of the Product, and Sanofi shall promptly, at Relypsa’s election, destroy (at [***] cost and expense), or shall cooperate with Relypsa in the collection and return to Relypsa (at [***] cost and expense) of, all Product Promotional
and Educational Materials, scientific literature relating to the Product, and other sales or sales training materials in the possession of Sanofi, any Sanofi PSR, Sanofi Regional Business Director or any member of Sanofi’s Sales Management
Team, as promptly as practical after the date thereof. Upon any such termination, all licenses granted to Sanofi under this Agreement will immediately be terminated. 

  
 35 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 11.4 No Waiver of Remedies. Termination of this Agreement shall
not preclude either Party from: (a) claiming any other damages, compensation or relief that it may be entitled to upon such termination; (b) any right to receive any amounts accrued under this Agreement prior to the termination date but
which are unpaid or become payable thereafter; and (c) any right to obtain performance of any obligation provided for in this Agreement which shall survive termination. 

11.5 Survival of Certain Provisions. Termination or expiration of this Agreement for any reason shall terminate all outstanding
obligations and liabilities between the Parties arising out of this Agreement, except those described in: Article 1, Section 3.1(b), Section 3.1(c), Section 3.2(h), Section 5.3, Section 5.4 (first sentence),
Section 6.1(a)(i) (with respect to Details performed during the Term), Section 6.1(a)(ii) (to the extent described in Section 6.1(c)), Section 6.1(c), Section 6.2, Section 7.1, Section 7.2, Article 8,
Section 9.3, Article 10, Section 11.3, Section 11.4, Section 11.5, and Article 12, all of which shall survive termination or expiration of this Agreement for the time specified in such Articles and Sections; provided, however,
that if no such time period is specified in such Articles and Sections, they shall all survive termination or expiration of this Agreement indefinitely. 

12. MISCELLANEOUS 

12.1 Integration. This Agreement by and between the Parties hereto, is both a final expression of the Parties’ agreement and a
complete and exclusive statement with respect to all of its terms. The Exhibits and Recitals referred to in this Agreement are incorporated herein and made a part of this Agreement by this reference. This Agreement supersedes all prior and
contemporaneous agreements and communications, whether oral, written or otherwise, concerning any and all matters contained herein (except that certain Confidential Disclosure Agreement between the Parties dated June 21, 2013, with all
information exchanged between the Parties after the Effective Date subject to Article 8 hereof. 
 12.2 Relationship Between the
Parties. The Parties have no ownership interest in the other and their relationship, as established by this Agreement, is solely that of independent contractors. This Agreement does not create any partnership, joint venture or similar business
relationship between the Parties. Neither Party is a legal representative of the other Party, and neither Party can assume or create any obligation, representation, warranty or guarantee, express or implied, on behalf of the other Party for any
purpose whatsoever. 
 12.3 Modification & Non-Waiver. This Agreement may only be modified or waived in a document that
expressly states the Article or Section that is being modified or waived and that is signed by the Parties. The failure of a Party to insist upon strict performance of any provision of this Agreement or to exercise any right arising out of this
Agreement shall neither impair that provision or right nor constitute a waiver of that provision or right, in whole or in part, in that instance or in any other instance. 

  
 36 

 EXECUTION VERSION 

 
 12.4 Assignment. This Agreement is binding upon and inures to the
benefit of the Parties, and to their permitted successors and assigns. No Party may assign or delegate any or all of its rights or obligations under this Agreement to any Person without the prior written consent of the other Party (not to be
unreasonably withheld, delayed or conditioned), except that either Party may assign this Agreement without the prior written consent of the other Party to an Affiliate of the assigning Party or in connection with a merger, acquisition or sale of
substantially all of the business or assets to which the Agreement relates. Any assignment or delegation, or any other transfer or change of control by sale, acquisition, merger, or otherwise, or attempt at the same, made in the absence of such
prior written consent shall be null and void. 
 12.5 No Third Party Beneficiaries. This Agreement is neither expressly nor impliedly
made for the benefit of any Party other than the Parties, the Relypsa Indemnitees and the Sanofi Indemnitees, and there are no intended third party beneficiaries except for the Relypsa Indemnitees and the Sanofi Indemnitees. 

12.6 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid
under Applicable Laws, but if any provision of this Agreement is held to be prohibited by or invalid under Applicable Laws, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder
of this Agreement. If such invalidity arises, the Parties shall seek to agree on an alternative enforceable provision that preserves the original purpose of this Agreement. 

12.7 Notices. All notices or consents given under this Agreement shall be in writing, addressed to the Parties at the following
addresses, and delivered by person, by facsimile (with receipt confirmation and promptly confirmed by personal delivery or courier), or by next Business Day delivery service of a nationally recognized overnight courier service. Any such notice shall
be deemed to have been given upon receipt by the addressee. Unless otherwise specified in writing, the mailing addresses of the Parties shall be as described below shall be either delivered to the intended recipient in person, by prepaid security
post or by facsimile transmission to the address or facsimile number below or the address or facsimile number last notified by the intended recipient. 

If to Relypsa, notices must be addressed to: 

Relypsa, Inc. 
 100 Cardinal Way

 Redwood City, CA 94063 

Attention: [***] 
 Facsimile:
[***] 

  
 37 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 With a copy to: 

Latham & Watkins, LLP 

140 Scott Drive 
 Menlo Park, CA
94025 
 Attention: Judith Hasko 

Facsimile: 650-463-2600 
 If to
Sanofi, notices must be addressed to: 
 sanofi-aventis US LLC 

55 Corporate Drive 

Bridgewater, NJ 08807 

Attention: [***] 
 with a copy
to: 
 Covington & Burling LLP 

One Front Street 
 San
Francisco, CA 94111 
 Attention: Amy Toro 

Facsimile: [***] 
 12.8
Compliance with Laws. Notwithstanding any other provision of this Agreement to the contrary, nothing in this Agreement will require either Party to engage in any activity or use any materials that could violate Applicable Law or that such Party
believes could violate its internal policies and procedures, compliance program controls, or any Corporate Integrity Agreement or other agreement with a governmental entity governing its operations in the Territory. 

12.9 Force Majeure. Each Party shall be excused from liability for the failure or delay in performance of any obligation under this
Agreement (other than an obligation to make payments due and payable under this Agreement) to the extent such failure or delay is caused by or results from causes beyond the reasonable control of the affected Party, including acts of God, war, civil
unrest, fire, flood, explosion, earthquake, or other natural forces (a “Force Majeure Event”). Such excuse from liability shall be effective only to the extent and duration of the event(s) causing the failure or delay in performance
and provided that the Party so affected shall use commercially reasonable efforts to avoid or remove or mitigate such causes of non-performance, and continues performance with reasonable dispatch whenever such causes are removed. Notice of a
Party’s failure or delay in performance due to a Force Majeure Event must be given to the other Party within [***] ([***]) days after its occurrence. All delivery dates under this Agreement that have been affected by a Force Majeure Event shall
be tolled for the duration of such Force Majeure Event. Notwithstanding the foregoing, if the Force Majeure Event(s) suffered by a Party extend beyond a [***] ([***]) month period, the other Party may then terminate this Agreement by written notice
to the non-performing Party. 

  
 38 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 12.10 Dispute Resolution. Except with regard to any matters or
disputes between the Parties for which Relypsa has final decision-making authority pursuant to Section 2.1(b), if a dispute or controversy regarding any other matter under this Agreement, arises between the Parties which they are unable to
resolve (a “Dispute”), each of the Parties shall (subject to any applicable cure period as set forth in this Agreement), be entitled to submit to the other Party written notice of such Dispute, with such notice setting forth in
reasonable detail the nature of the Dispute (the “Dispute Notice”). For a period of [***] ([***]) days after the date of the receiving Party’s receipt of the Dispute Notice, the Parties shall seek to resolve such Dispute by
good faith negotiation between the Parties’ Senior Executive Officers. If at the end of such [***] ([***]) day period the Dispute remains unresolved, the Parties may seek relief for such Dispute using any appropriate administrative or judicial
mechanism which may be available, subject to Section 12.11. The provisions of this Section 12.10 shall not restrict in any way the Parties’ rights to seek preliminary injunctive or other equitable relief from any court having
jurisdiction. 
 12.11 Jurisdiction and Governing Law. Notwithstanding its place of execution or performance, this Agreement shall be
governed by and construed in accordance with the laws of the State of New York, irrespective of its laws regarding choice or conflict of laws. The Parties hereby agree that for the purposes of resolving any Disputes hereunder, in accordance with
Section 12.10, that the Parties hereby submit to the exclusive jurisdiction of the courts of New York. 
 12.12 Interpretation.
The captions and headings of Articles and Sections contained in this Agreement are inserted solely for convenience and ease of reference only and shall not constitute any part of this Agreement, or have any effect on its interpretation or
construction. All references in this Agreement to the singular shall include the plural where applicable, and all references to gender shall include both genders and the neuter. Unless otherwise specified, references in this Agreement to any Article
shall include all Sections, subsections, and paragraphs in such Article; references in this Agreement to any Section shall include all subsections and paragraphs in such sections; and references in this Agreement to any subsection shall include all
paragraphs in such subsection. The word “including” or any variation thereof means “including without limitation” and the word “including” or any variation thereof shall not be construed to limit any general statement
which it follows to the specific or similar items or matters immediately following it. The term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or”. Ambiguities and uncertainties
in this Agreement, if any, shall not be interpreted against either Party, irrespective of which Party may be deemed to have caused the ambiguity or uncertainty to exist. No trade customs, courses of dealing or courses of performance by the Parties
shall be relevant to modify, supplement or explain any term(s) used in this Agreement. 
 12.13 Counterparts. This Agreement may be
executed in one (1) or more counterparts, each of which shall be deemed an original document, and all of which, together with this writing, shall be deemed one instrument. An executed signature page of this Agreement delivered by facsimile
transmission or by electronic mail in “portable document format” (“.pdf”) shall be as effective as an original executed signature page. 

  
 39 

[***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 12.14 Further Assurances. Each Party to this Agreement shall, at
its own expense, furnish, execute, and deliver all documents and take all actions as may reasonably be required to effect the terms and purposes of this Agreement. 

[Signatures on next page] 

  
 40 

 EXECUTION VERSION 

 
 The Parties hereto have caused this Agreement to be executed by their
duly authorized officers as of the day and year written below. The Parties acknowledge that the signature date may not be the Effective Date. 
  

									
	SANOFI-AVENTIS US LLC	 		 	RELYPSA, INC.
					
	By:	 	 /s/ Nicholas Grund
	 		 	By	 	 /s/ John A. Orwin

					
	Name:	 	 Nicholas Grund
	 		 	Name:	 	 John A. Orwin

					
	Title:	 	 Title: SVP, Head of Specialty Care
	 		 	Title:	 	 President & CEO

					
	Date:	 	 8/10/2015
	 		 	Date:	 	  

  

											
	By:	 	      
	 	  	 		 		 	
						
	Name:	 	      
	 	  	 		 		 	
						
	Title:	 	      
	 	  	 		 		 	
						
	Date:	 	      
	 	  	 		 		 	

  
 [SIGNATURE PAGE]

 EXECUTION VERSION 

 

 EXHIBIT A 

INITIAL SALES PROGRAM PLAN FOR THE PRODUCT 

[***] 

  
 Exhibit A Page 1 of 4

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 [***] 

  
 Exhibit A Page 2 of 4

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 [***] 

  
 Exhibit A Page 3 of 4

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 
 [***]. 

  
 Exhibit A Page 4 of 4

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 

 EXHIBIT B 

SALES FORCE INCENTIVE PLAN 
 Following the
Effective Date, [***] in accordance with its policies and procedures governing [***]: 
 [***] 

  
 Exhibit B Page 1 of 1

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 

 EXHIBIT C 

TECHNICAL AGREEMENTS 
 To be finalized
within [***] ([***]) days after the Effective Date. 

  
 Exhibit C Page 1 of 1

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 

 EXHIBIT D 

FORM OF SERVICE FEE INVOICE 
 [***] 

  
 Exhibit D Page 1 of 1

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 

 EXHIBIT E 

FORM OF [***] 

Relypsa, Inc. 
 [***]

  
 Exhibit E Page 1 of 1

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 

 EXHIBIT F 

FORM OF [***] 
 [***] 

  
 Exhibit F Page 1 of 1

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 

 EXHIBIT G 

[***] DETAIL REPORT 
  

	 	¡	 	Total number of details performed by [***] 

  

	 	¡	 	Aggregate detail activity for [***] 

  
 Exhibit G Page 1 of 1

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 

 EXECUTION VERSION 

 

 EXHIBIT H 

PRESS RELEASE 
  
 

 
 NEWS RELEASE 

Contact: 
 Charlotte Arnold 

Vice President, Corporate Communications 
 650.421.9352

 IR@relypsa.com 
 RELYPSA ENTERS
TWO-YEAR DETAILING AGREEMENT WITH SANOFI IN THE UNITED STATES 
 REDWOOD CITY, Calif., August 10, 2015 – Relypsa Inc. (NASDAQ: RLYP), a
biopharmaceutical company, today announced it has entered a two-year detailing agreement with Sanofi for Patiromer for Oral Suspension (Patiromer FOS). Patiromer FOS is Relypsa’s investigational medicine that is currently under review for the
treatment of hyperkalemia with the U.S. Food and Drug Administration (FDA), with a Prescription Drug User Fee Act (PDUFA) action date of October 21, 2015. 

Relypsa intends to commercialize Patiromer FOS, if approved, with its own dedicated U.S.-based commercial team and specialty sales force of approximately 120
sales representatives. Relypsa’s sales force will focus primarily on outreach to nephrologists, cardiologists and hospitals. Under the terms of the agreement, Sanofi’s nephrology sales force will complement Relypsa’s efforts by
detailing Patiromer FOS in the United States for a two-year period. During the term of the agreement, Sanofi will be paid a service fee and is also eligible to receive incentive payments. The term may be extended by mutual agreement of both parties.

 Relypsa will continue to be responsible for all regulatory, development, commercial, manufacturing and distribution activities for Patiromer FOS in the
United States, including recording sales. 
 “Hyperkalemia is a serious and potentially fatal medical complication. We are continuing to work toward
our goal of bringing hyperkalemia patients the first new medicine in more than 50 years,” said John A. Orwin, president and chief executive officer of Relypsa. “We believe this agreement will support a strong start for Patiromer FOS in the
United States, if approved. Sanofi’s experienced nephrology sales force can be mobilized immediately upon potential approval and, combined with our own representatives, will enable more frequent and comprehensive outreach to nephrologists and
cardiologists.” 

  
 Exhibit H Page 1 of 3

  

									
	Relypsa, Inc.        	 	100 Cardinal Way, Redwood City, CA 94063	 	Tel: 650-421-9500	 	Fax: 650-421-9700    	 	        www.relypsa.com

 EXECUTION VERSION 

 
 “Sanofi is committed to helping people living with renal disease and is proud to
partner with Relypsa, a company that shares our commitment,” said Nik Grund, senior vice president of the Specialty Care Division, Sanofi. “For nearly two decades, Sanofi has served the nephrology community with our portfolio of renal
products and services. This agreement has the potential to help us build upon that legacy by bringing a new and innovative therapy to patients with hyperkalemia.” 

Conference Call Today at 5:00 PM ET (2:00 PM PT) 
 The
Relypsa management team will host a teleconference and webcast to discuss the partnership. The live call may be accessed by phone by calling (866) 410-4428 (domestic) or (704) 908-0287 (international), conference code 8382449. The webcast
may be accessed live on the investor relations section of the Relypsa website at investor.relypsa.com and will be archived for 30 days following the call. 

About Patiromer for Oral Suspension 
 Patiromer FOS is an
oral potassium binder in development for the treatment of hyperkalemia. This investigational medicine has been studied in both treatment and prevention studies, primarily in patients with chronic kidney disease (CKD), also heart failure, patients
with both, and those with diabetes and hypertension. The clinical program includes a two-part pivotal Phase 3 program conducted under Special Protocol Assessment with FDA, a 12-month Phase 2 trial and a 48-hour Phase 1 onset-of-action trial. 

About Hyperkalemia 
 Hyperkalemia, or abnormally elevated
levels of potassium in the blood, is a condition which can lead to life-threatening cardiac arrhythmia and sudden death. It is frequently prevalent in patients who suffer from CKD, hypertension, diabetes and/or heart failure. Patients with CKD or
heart failure are at particular risk for developing hyperkalemia, especially those treated with renin-angiotensin-aldosterone-system (RAAS) inhibitors, which can increase blood potassium levels in patients taking these medicines. 

About Relypsa, Inc. 
 Relypsa, Inc. is a biopharmaceutical
company focused on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular and metabolic diseases. The company’s two-part pivotal Phase 3 trial of its lead product
candidate, Patiromer for Oral Suspension, has been completed and the primary and secondary endpoints were met. A New Drug Application for Patiromer for Oral Suspension for the treatment of hyperkalemia was accepted by the U.S. Food and Drug
Administration and is currently under review. Relypsa has global royalty-free commercialization rights to Patiromer for Oral Suspension, which has intellectual property protection in the United States until at least 2030. More information is
available at www.relypsa.com. 

  
 Exhibit H Page 2 of 3

  

									
	Relypsa, Inc.        	 	100 Cardinal Way, Redwood City, CA 94063	 	Tel: 650-421-9500	 	Fax: 650-421-9700    	 	        www.relypsa.com

 EXECUTION VERSION 

 
 About Sanofi 

Sanofi, a global healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients’ needs. Sanofi has core strengths in
diabetes solutions, human vaccines, innovative drugs, consumer healthcare, emerging markets, animal health and Genzyme. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY). 

Forward-Looking Statements Related to Relypsa, Inc. 

To the extent that statements contained in this press release are not descriptions of historical facts regarding Relypsa, they are forward-looking
statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the potential for, and timing of, approval
and commercialization of Patiromer for Oral Suspension, or Patiromer FOS, the expected impact of the agreement with Sanofi, the therapeutic and commercial potential of Patiromer FOS, Relypsa’s commercial launch plans and the potential
Prescription Drug User Fee Act action date. Such forward-looking statements involve substantial risks and uncertainties that could cause our clinical development program, future results, performance or achievements to differ significantly from those
expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the clinical drug development process, including the regulatory approval process, the timing of Relypsa’s
regulatory filings, Relypsa’s substantial dependence on Patiromer FOS, Relypsa’s commercialization plans and efforts and other matters that could affect the availability or commercial potential of Patiromer FOS. Relypsa undertakes no
obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to
the business of Relypsa in general, see Relypsa’s current and future reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2014, and its Quarterly Report on
Form 10-Q for the quarterly period ended June 30, 2015. 
 ### 

  
 Exhibit H Page 3 of 3

  

									
	Relypsa, Inc.        	 	100 Cardinal Way, Redwood City, CA 94063	 	Tel: 650-421-9500	 	Fax: 650-421-9700    	 	        www.relypsa.com

 EXECUTION VERSION 

 

 EXHIBIT I 

SANOFI EXPENSES PER DETAIL 
 [***] 

  
 Exhibit I Page 1 of 1

 [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00253-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00253-of-00352.parquet"}]]