Document:

EX-10.2

 Exhibit 10.2 

EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT
AGREEMENT (the “Agreement”), made as of August 28, 2013, is entered into by and between Curis, Inc., a Delaware corporation (the “Company”), and Jaye Viner, M.D. (the “Employee”). 

The Company desires to employ the Employee, and the Employee desires to be employed by the Company. In consideration of the mutual covenants
and promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Term of Employment. The Company hereby agrees to employ the Employee, and the Employee hereby accepts employment with the Company,
upon the terms set forth in this Agreement, for the period commencing on August 13, 2013 (the “Commencement Date”) and continuing until terminated in accordance with the provisions of Section 4 (the “Employment
Period”). During the Employment Period, the Employee shall be an at-will employee of the Company and the Employee’s employment and the Employment Period shall be freely terminable by either party, for any reason, at any time, with or
without cause or notice, subject to the provisions set forth in Section 4 below. 
 2. Position. 

(a) The Employee shall serve as Chief Medical Officer and Executive Vice President of the Company. The Employee shall have such duties and
authority consistent with her position as may be assigned from time to time by the President and Chief Operating Officer of the Company. The Employee shall report to, and be subject to the supervision of, the President and Chief Operating Officer.
The Employee agrees to devote her entire business time to the business and interests of the Company during the Employment Period. 
 (b) The
Employee agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company. 

3. Compensation and Benefits. 

3.1 Salary. During the Employment Period, the Company shall pay the Employee, in periodic installments in accordance with the
Company’s customary payroll practices, a base salary of $14,423.07 per bi-weekly pay period (based upon 26 bi-weekly pay periods per annum, equal to $375,000 per annum). Such salary shall be subject to annual review by the Board of Directors of
the Company (the “Board”) and/or the Compensation Committee of the Board (the “Compensation Committee”). 
 3.2 Stock
Options. Subject to approval by the Compensation Committee, on or about the Commencement Date the Employee shall be granted, pursuant to the Company’s Amended and Restated 2010 Stock Incentive Plan (the “Plan”), an option to
purchase 375,000 shares of Common Stock, $0.01 par value (“Common Stock”) of the Company pursuant to the 

 
terms and conditions of the Plan and a stock option agreement issued thereunder, such option to (a) be exercisable at a price per share equal to the closing price of the Company’s
Common Stock on the NASDAQ Stock Market on date of grant, and (b) to vest and become exercisable, subject to the Employee’s continued employment, at a rate of 25% of the total shares underlying the option on the first anniversary of the
date of grant and as to an additional 6.25% of the total shares underlying the grant at the end of each full calendar quarter thereafter. The Board or the Compensation Committee may award additional stock options to the Employee from time to time in
their sole discretion. The Employee may be eligible for an annual performance equity-based award in connection with the Company’s annual performance equity award cycle beginning in calendar year 2014. 

3.3 Signing; Bonus; Cash Incentives. 

(a) The Company shall pay the Employee a one-time signing bonus of $80,000, payable after the Employee’s 90th day of employment. 
 (b) The Compensation Committee has the authority to award
discretionary annual cash bonuses to the executive officers of the Company, including the Employee. Any bonus awarded shall be based on the achievement of specific objectives established by the Board. Such bonus (if any) will be paid in the form of
cash or capital stock, as determined by the Compensation Committee. 
 (c) The Compensation Committee has established a discretionary
short-term incentive plan for executive officers for fiscal 2013 that provides for a potential cash incentive bonus payment, up to a predetermined percentage of each such executive officer’s 2013 actual compensation, based upon objectives
established by the Compensation Committee. Pursuant to this program, upon the determination of the Compensation Committee, acting in its sole discretion, the Employee may be entitled to receive a bonus for 2013 equal to up to 35% of her earned
compensation in 2013, estimated to be approximately $50,000. 
 (d) Any bonus or cash incentive awarded to Employee will be paid, subject to
required withholdings and deductions, on or before March 15 of the calendar year immediately following the year for which the bonus or cash incentive was earned. 

3.4 Fringe Benefits. The Employee shall be entitled to participate in all medical and other benefit programs that the Company
establishes and makes available to its employees, if any, to the extent that Employee’s position, tenure, salary, age, health and other qualifications make her eligible to participate. This comprehensive program currently covers medical and
dental benefits, life and disability insurances, and a Section 125 Plan. The Employee will also be eligible to participate in the Company’s 401(k) Plan. The Employee shall be entitled to three weeks paid vacation per year subject to the
Company’s policies for accrual and use. 
 3.5 Reimbursement of Expenses. The Company shall reimburse the Employee for all
reasonable travel, entertainment and other expenses incurred or paid by the Employee in connection with, or related to, the performance of her duties, responsibilities or services under this Agreement, upon presentation by the Employee of
documentation, expense statements, receipts, vouchers and/or such other supporting information as the Company may request, provided, however, that the maximum amount available for such travel, entertainment and other expenses may be fixed in advance
by the Company. 

  
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 3.6 Commuting Expenses. 

(a) The Company shall reimburse the Employee for reasonable interim commuting expenses incurred by the Employee and as approved by Company,
for a period not to exceed nine (9) months from the Commencement Date, relating to the Employee’s interim commuting (the “Commuting Expenses”), upon presentation by the Employee of documentation, expense statements, receipts,
vouchers and/or such other supporting information as the Company may request. 
 (b) The Company shall pay the Employee a gross up payment
equal to the sum of any federal and state income taxes and social security and medicare employment taxes (collectively, the “Taxes”) payable with respect to the Commuting Expenses, plus such additional Taxes as may be imposed on the
Employee attributable to the receipt of such gross up payment. Any such payment for Taxes shall be made no later than the end of the Employee’s taxable year next following the Employee’s taxable year in which the Employee’s remits the
Taxes. 
 3.7 Withholding. All salary, bonus and other compensation payable to the Employee shall be subject to applicable
withholdings. 
 4. Termination of Employment. 

(a) [Intentionally left blank.] 

(b) The Company has the right to terminate the Employee’s employment under this Agreement, by notice to the Employee in writing at any
time (i) for Cause (as defined below), (ii) without Cause for any or no reason, or (iii) due to the Disability (as defined below) of the Employee. Any such termination shall be effective upon the date of such notice to the Employee or
such other date as may be specified in such notice. 
 (c) Employee’s employment under this Agreement shall terminate immediately upon
the Employee’s death. 
 (d) The Employee shall have the right to terminate her employment under this Agreement (i) for any reason
or no reason upon thirty (30) days’ prior written notice to the Company or (ii) for Good Reason (as defined below). 
 (e) As
used in this Agreement, the terms below shall have the following meanings: 
 (i) “Cause” means (a) the Employee’s
failure or refusal to substantially perform her duties or the Employee’s continued neglect to perform such duties to the full extent of her abilities for reasons other than death, physical or mental incapacity, (b) a good faith finding by
the Company of the Employee’s failure to perform her duties as assigned to her by the Board, Chief Executive Officer, or President and Chief Operating Officer of the 

  
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Company, (c) a good faith finding by the Company of dishonesty, gross negligence, or misconduct, (d) conviction or the entry of a pleading of nolo contendere to any crime or
felony, or (e) any breach or threatened breach of any confidentiality, non-solicitation, or inventions agreement with the Company. For purposes of Section 5(c) of this Agreement, “Cause” shall have the meaning ascribed to it in
Section 8(c)(1)(d) of the Company’s 2010 Stock Incentive Plan, as amended from time to time. 
 (ii) “Good Reason”
shall mean (a) any material diminution in the Employee’s authority, duties or responsibilities; (b) any material reduction in her annual base salary; (c) any material breach by the Company of this Agreement; or (d) any
requirement by the Company or of any person in control of the Company that the location at which the Employee performs her principal duties for the Company be changed to a new location that is more than forty (40) miles from the current
principal location of the Company, provided that (i) the Employee provides the Company with notice of the condition described above within 90 days after the initial existence of the condition; (ii) such condition is not remedied by the
Company within 30 days after receiving the notice and (iii) the Employee separates from service with the Company within 2 years following the initial existence of the condition. 

(iii) “Change in Control Event” shall mean: 

(A) The acquisition by an individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a
“Person”) of beneficial ownership of any capital stock of the Company if, after such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3 promulgated under the Exchange Act) 50% or more of either (x) the
then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (y) the combined voting power of the then-outstanding securities of the Company entitled to vote generally in the election of directors
(the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (i), the following acquisitions shall not constitute a Change in Control Event: (1) any acquisition directly from the Company
(excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for common stock or voting securities of the Company, unless the Person exercising, converting or exchanging
such security acquired such security directly from the Company or an underwriter or agent of the Company), (2) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled
by the Company, or (3) any acquisition by any corporation pursuant to a Business Combination (as defined below) which complies with clauses (x) and (y) of subsection (C) of this definition; or 

(B) Such time as the Continuing Directors (as defined below) do not constitute a majority of the Board (or, if applicable, the Board of
Directors of a successor corporation to the Company), where the term “Continuing Director” means at any date a member of the Board (x) who was a member of the Board on the date of the initial adoption of this Agreement by the Board or
(y) who was nominated or elected subsequent to such date by at least a majority of the directors who were Continuing Directors at the time of such nomination or election or whose election to the Board was recommended or endorsed by at least a
majority of the directors who were Continuing Directors at the time of such nomination or election; or 

  
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 (C) The consummation of a merger, consolidation, reorganization, recapitalization or share
exchange involving the Company or a sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), unless, immediately following such Business Combination, each of the following two
conditions is satisfied: (x) all or substantially all of the individuals and entities who were the beneficial owners of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding securities entitled to vote generally in the election of directors,
respectively, of the resulting or acquiring corporation or other form of entity in such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns the Company or substantially all of the
Company’s assets either directly or through one or more subsidiaries) (such resulting or acquiring corporation or entity is referred to herein as the “Acquiring Corporation”) in substantially the same proportions as their ownership of
the Outstanding Company Common Stock and Outstanding Company Voting Securities, respectively, immediately prior to such Business Combination and (y) no Person (excluding the Acquiring Corporation or any employee benefit plan (or related trust)
maintained or sponsored by the Company or by the Acquiring Corporation) beneficially owns, directly or indirectly, 50% or more of the then-outstanding shares of common stock of the Acquiring Corporation, or of the combined voting power of the
then-outstanding securities of such corporation entitled to vote generally in the election of directors (except to the extent that such ownership existed prior to the Business Combination). 

(iv) “Disability” shall be deemed to have occurred when the Employee shall have been unable to perform her duties by reason of
illness or incapacity for a period of 120 consecutive days in any period of 52 consecutive weeks, as determined in good faith by the Board in accordance with applicable law. 

5. Compensation upon Termination. 

(a) In the event the Employee’s employment terminates by the Company for Cause, by the Employee without Good Reason or due to the death
or Disability of the Employee, the Company shall pay to the Employee only her base salary accrued through the last day of her employment with the Company. 

(b) In the event the Employee’s employment terminates as a result of a termination by the Employee for Good Reason, or a termination by
the Company without Cause (except for a termination covered by 5(c)), the Employee shall: (i) receive her base salary accrued through the last day of her employment with the Company, (ii) receive payments equal to one-half (1/2) of
the Employee’s then base salary, reduced by all applicable taxes and withholdings, over a period of six months in accordance with the Company’s then current payroll policies and practices and (iii) the Employee’s medical/dental
insurance as an Employee of the Company will cease upon termination and the Employee will immediately become eligible for continuation of medical/dental coverage pursuant to COBRA. The Company will pay any difference between the COBRA premium and
the amount the Employee would otherwise be responsible for with respect to the medical and dental coverage elected for a period of six (6) months from the date such termination or as long as the Employee is eligible for COBRA,

  
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whichever period is shorter. At the end of this period, the Employee is eligible to continue coverage for the balance of the statutory period under COBRA, provided that the Employee pays the
COBRA premium. 
 (c) In the event the Employee’s employment terminates as a result of termination of the Employee by the Company or
its successor without Cause, or by the Employee for Good Reason, within twelve (12) months following a Change in Control Event, the Employee shall: (i) receive her base salary accrued through the last day of her employment with the
Company; (ii) receive payments equal to one-half (1/2) of the Employee’s then base salary, reduced by all applicable taxes and withholdings, over a period of six months in accordance with the Company’s then current payroll
policies and practices and (iii) the Employee’s medical/dental insurance as an Employee of the Company will cease upon termination and the Employee will immediately become eligible for continuation of medical/dental coverage pursuant to
COBRA. The Company will pay directly to the provider of the medical/dental coverage at the time such premiums are due any difference between the COBRA premium and the amount the Employee would otherwise be responsible for with respect to the medical
and dental coverage elected for a period of six (6) months from the date such termination or as long as the Employee is eligible for COBRA, whichever period is shorter. At the end of this period, the Employee is eligible to continue coverage
for the balance of the statutory period under COBRA, provided that the Employee pays the COBRA premium. For purposes of this paragraph, the Employee’s “base salary” shall be the greater of the amount in effect either immediately prior
to the Change in Control Event or the termination date of Employee’s employment. The benefits provided under this Section 5(c) shall be in lieu of any benefits the Employee would have otherwise been entitled to pursuant to
Section 5(b) of this Agreement. 
 (d) The following rules shall apply with respect to distribution of the payments and benefits, if
any, to be provided to the Employee under this Section 5: 
 (i) It is intended that each installment of the payments and benefits
provided under Section 5 shall be treated as a separate “payment” for purposes of Section 409A. Neither the Company nor the Employee shall have the right to accelerate or defer the delivery of any such payments or benefits except
to the extent specifically permitted or required by Section 409A; 
 (ii) If, as of the date of the “separation from
service” of the Employee from the Company, the Employee is not a “specified employee” (each within the meaning of Section 409A), then each installment of the payments and benefits shall be made on the dates and terms set forth in
Section 5; and 
 (iii) If, as of the date of the “separation from service” of the Employee from the Company, the Employee
is a “specified employee” (each, for purposes of this Agreement, within the meaning of Section 409A), as determined by the Company in accordance with its procedures, by which determination the Employee hereby agrees that he is bound,
then: 
 (A) Each installment of the payments and benefits due under Section 5 that, in accordance with the dates and terms set forth
herein, will in all circumstances, regardless of when the separation from service occurs, be paid within the Short-Term Deferral 

  
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Period (as hereinafter defined) shall be treated as a short-term deferral within the meaning of Treasury Regulation Section 1.409A-1(b)(4) to the maximum extent permissible under
Section 409A. For purposes of this Agreement, the “Short-Term Deferral Period” means the period ending on the later of the 15th day of the third month following the end of the Employee’s tax year in which the Employee’s
separation from service occurs and the 15th day of the third month following the end of the Company’s tax year in which the Employee’s separation from service occurs; 

(B) Each installment of the payments and benefits due under Section 5 that is not paid within the Short-Term Deferral Period and that
would, absent this subsection, be paid within the six-month period following the “separation from service” of the Employee of the Company shall not be paid until the date that is six months and one day after such separation from service
(or, if earlier, the death of the Employee), with any such installments that are required to be delayed being accumulated during the six-month period and paid in a lump sum on the date that is six months and one day following the Employee’s
separation from service and any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any installment of payments and
benefits if and to the maximum extent that that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating
to separation pay upon an involuntary separation from service) or Treasury Regulation 1.409A-1(b)(9)(iv) (relating to reimbursements and certain other separation payments). Such delayed payments shall bear interest at an annual rate equal to the
prime rate as set forth in the Eastern edition of the Wall Street Journal on the Employee’s date of termination of employment, from the date of termination of employment to the date of payment. Any installments that qualify for the exception
under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of the second taxable year of the Employee following the taxable year of the Employee in which the separation from service occurs. 

(C) The determination of whether and when the Employee’s separation from service from the Company has occurred shall be made and in a
manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this paragraph (C), “Company” shall include all persons with whom the Company would be considered a
single employer under Section 414(b) and 414(c) of the Code. 
 (e) The receipt of any severance benefits provided for under this
Agreement or otherwise shall be dependent upon the Employee’s delivery to the Company of an effective general release of claims in a form satisfactory to the Company. Such release must be delivered and become irrevocable within sixty
(60) days of the date of the Employee’s termination of employment. Payment of the benefits shall be made or commence no later than the thirtieth (30th) day following the date on which the release becomes irrevocable. Notwithstanding
the foregoing, if the 60th day following the termination of employment occurs in the calendar year following the year of the Employee’s termination of employment then the severance payments shall not be made or commence prior to January 1
of the year following such termination of employment, and in any event, payment of benefits under this subparagraph shall be subject to the provisions of Section 5(d) to the extent applicable. 

  
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 (f) The benefits provided for the Employee under this Agreement shall be the sole payments and
benefits for which the Employee shall be eligible at the conclusion of her employment with the Company for any reason and shall supersede any and all prior agreements or arrangements for post-termination benefits and indemnification. 

6. Notices. All notices, instructions, demands, claims, requests and other communications given hereunder or in connection herewith
shall be in writing. Any such communication shall be sent either (a) by registered or certified mail, return receipt requested, postage prepaid, or (b) via a reputable nationwide overnight courier service, in each case to the address set
forth below. Any such communication shall be deemed to have been delivered two business days after it is sent by registered or certified mail, return receipt requested, postage prepaid, or one business day after it is sent via a reputable nationwide
overnight courier service. 
  

					
		 	To the Company:	  	Curis, Inc.
		 		  	4 Maguire Road
		 		  	Lexington, MA 02421
		 		  	Facsimile: (617) 503-6501
		 		  	Attention: Chief Financial Officer
			
		 	To the Employee:	  	Jaye Viner, M.D.
		 		  	[address]

 Either party hereto may give any notice, instruction, demand, claim, request or other communication hereunder using any other
means (including personal delivery, expedited courier, messenger service, telecopy, telex, ordinary mail or electronic mail), but no such communication shall be deemed to have been duly given unless and until it actually is received by the party for
which it is intended. Either party hereto may change the address to which notices, instructions, demands, claims, requests and other communications hereunder are to be delivered by giving the other party hereto notice in the manner set forth in this
Section 6. 
 7. Entire Agreement. This Agreement supersedes all prior agreements, whether oral or written, by any officer,
employee or representative of any party hereto in respect of the subject matter contained herein; and any prior agreement of the parties hereto in respect of the subject matter contained herein is hereby terminated and cancelled (other than the
Non-disclosure and Assignment of Inventions Agreement dated August 28, 2013 by and between Employee and the Company). 
 8.
Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the Employee. 

9. Governing Law. Except as set forth in Section 13.14, the Agreement shall be governed by and construed in accordance with the
laws of the Commonwealth of Massachusetts without giving effect to principles of conflicts of laws. Except as set forth in Section 13.16, any action, suit, or other legal proceeding which is commenced to resolve any matter arising under or
relating to any provision of the Agreement shall be commenced only in a court of the Commonwealth of Massachusetts (or, if appropriate, a federal court located within Massachusetts), and the Company and the Employee each consents to the jurisdiction
of such a court. 

  
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 10. Successors and Assigns. The Company shall require any successor (whether direct or
indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform the Agreement to the same extent that the Company would be required to perform
it if no such succession had taken place. As used in the Agreement, “Company” shall mean the Company as defined above and any successor to its business or assets as aforesaid which assumes and agrees to perform the Agreement, by operation
of law or otherwise. 
 11. Miscellaneous. 

11.1 No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right. A
waiver or consent given by the Company on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 

11.2 The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or
substance of any section of this Agreement. 
 11.3 In case any provision of this Agreement shall be invalid, illegal or otherwise
unenforceable, the validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby. 
 12.
No Duty to Seek Employment. The Employee and the Company acknowledge and agree that nothing contained in this Agreement shall be construed as requiring the Employee to seek or accept alternative or replacement employment in the event of her
termination of employment by the Company for any reason, and no payment or benefit payable hereunder shall be conditioned on the Employee’s seeking or accepting such alternative or replacement employment. 

13. Indemnification. Upon the later of (1) six years after the date that the Employee shall have ceased to serve as an Employee
officer of the Company or, at the request of the Company, as a director, officer, partner, trustee, member, employee or agent of another corporation, partnership, joint venture, trust, limited liability company or other enterprise or (2) the
final termination of all Proceedings (as defined below) pending on the date set forth in clause (1) in respect of which the Employee is granted rights of indemnification or advancement of Expenses (as defined below) hereunder and of any
proceeding commenced by the Employee pursuant to Section 13.8 of this Agreement relating thereto, the Company shall provide indemnification to the Employee as follows: 

13.1 Indemnification in Third-Party Proceedings. The Company shall indemnify the Employee in accordance with the provisions of this
Section 13.1 if the Employee was or is a party to or threatened to be made a party to or otherwise involved in any Proceeding (other than a Proceeding by or in the right of the Company to procure a judgment in its favor) by reason of the
Employee’s Corporate Status or by reason of any action alleged to have been taken 

  
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or omitted in connection therewith, against all Expenses, judgments, fines, penalties and amounts paid in settlement actually and reasonably incurred by or on behalf of the Employee in connection
with such Proceeding, if the Employee acted in good faith and in a manner which the Employee reasonably believed to be in, or not opposed to, the best interests of the Company and, with respect to any criminal Proceeding, had no reasonable cause to
believe that her conduct was unlawful. The termination of any Proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the Employee did not act in good
faith and in a manner which the Employee reasonably believed to be in, or not opposed to, the best interests of the Company, and, with respect to any criminal Proceeding, had reasonable cause to believe that her conduct was unlawful. 

13.2 Indemnification in Proceedings by or in the Right of the Company. The Company shall indemnify the Employee in accordance with the
provisions of this Section 13.2 if the Employee was or is a party to or threatened to be made a party to or otherwise involved in any Proceeding by or in the right of the Company to procure a judgment in its favor by reason of the
Employee’s Corporate Status (as defined below) or by reason of any action alleged to have been taken or omitted in connection therewith, against all Expenses and, to the extent permitted by law, amounts paid in settlement actually and
reasonably incurred by or on behalf of the Employee in connection with such Proceeding, if the Employee acted in good faith and in a manner which the Employee reasonably believed to be in, or not opposed to, the best interests of the Company, except
that no indemnification shall be made under this Section 13.2 in respect of any claim, issue, or matter as to which the Employee shall have been adjudged to be liable to the Company, unless, and only to the extent, that the Court of Chancery of
Delaware or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of such liability but in view of all the circumstances of the case, the Employee is fairly and reasonably entitled to
indemnity for such Expenses as the Court of Chancery or such other court shall deem proper. 
 13.3 Exceptions to Right of
Indemnification. Notwithstanding anything to the contrary in this Agreement, except as set forth in Section 13.8, the Company shall not indemnify the Employee in connection with a Proceeding (or part thereof) initiated by the Employee
unless the initiation thereof was approved by the Board of the Company. Notwithstanding anything to the contrary in this Agreement, the Company shall not indemnify the Employee to the extent the Employee is reimbursed from the proceeds of insurance,
and in the event the Company makes any indemnification payments to the Employee and the Employee is subsequently reimbursed from the proceeds of insurance, the Employee shall promptly refund such indemnification payments to the Company to the extent
of such insurance reimbursement. 
 13.4 Indemnification of Expenses of Successful Party. Notwithstanding any other provision of this
Agreement, to the extent that the Employee has been successful, on the merits or otherwise, in defense of any Proceeding or in defense of any claim, issue or matter therein, the Employee shall be indemnified against all Expenses incurred by or on
behalf of Employee in connection therewith. Without limiting the foregoing, if any Proceeding or any claim, issue or matter therein is disposed of, on the merits or otherwise (including a disposition without prejudice), without (i) the
disposition being adverse to the Employee, (ii) an adjudication that the Employee was liable to the Company, (iii) a plea of guilty or nolo contendere by the Employee, (iv) an adjudication that Employee did not act in good faith and
in a manner the 

  
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Employee reasonably believed to be in or not opposed to the best interests of the Company, and (v) with respect to any criminal proceeding, an adjudication that the Employee had reasonable
cause to believe her conduct was unlawful, the Employee shall be considered for the purposes hereof to have been wholly successful with respect thereto. 

13.5 Notification and Defense of Claim. As a condition precedent to the Employee’s right to be indemnified, the Employee must
notify the Company in writing as soon as practicable of any Proceeding for which indemnity will or could be sought. With respect to any Proceeding of which the Company is so notified, the Company will be entitled to participate therein at its own
expense and/or to assume the defense thereof at its own expense, with legal counsel reasonably acceptable to the Employee. After notice from the Company to the Employee of its election so to assume such defense, the Company shall not be liable to
the Employee for any legal or other expenses subsequently incurred by the Employee in connection with such Proceeding, other than as provided below in this Section 13.5. The Employee shall have the right to employ her own counsel in connection
with such Proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of the Employee unless (i) the employment of counsel by the Employee has
been authorized by the Company, (ii) counsel to the Employee shall have reasonably concluded that there may be a conflict of interest or position on any significant issue between the Company and the Employee in the conduct of the defense of
such Proceeding or (iii) the Company shall not in fact have employed counsel to assume the defense of such Proceeding, in each of which cases the fees and expenses of counsel for the Employee shall be at the expense of the Company, except as
otherwise expressly provided by this Agreement. The Company shall not be entitled, without the consent of the Employee, to assume the defense of any claim brought by or in the right of the Company or as to which counsel for the Employee shall have
reasonably made the conclusion provided for in clause (ii) above. The Company shall not be required to indemnify the Employee under this Agreement for any amounts paid in settlement of any Proceeding effected without its written consent. The
Company shall not settle any Proceeding in any manner which would impose any penalty or limitation on the Employee without the Employee’s written consent. Neither the Company nor the Employee will unreasonably withhold or delay their consent to
any proposed settlement. 
 13.6 Advancement of Expenses. Subject to the provisions of Section 13.7 of this Agreement, in the
event that the Company does not assume the defense pursuant to Section 13.5 of this Agreement of any Proceeding of which the Company receives notice under this Agreement, any Expenses incurred by or on behalf of the Employee in defending such
Proceeding shall be paid by the Company in advance of the final disposition of such Proceeding; provided, however, that the payment of such Expenses incurred by or on behalf of the Employee in advance of the final disposition of such Proceeding
shall be made only upon receipt of an undertaking by or on behalf of the Employee to repay all amounts so advanced in the event that it shall ultimately be determined that the Employee is not entitled to be indemnified by the Company as authorized
in this Agreement. Such undertaking shall be accepted without reference to the financial ability of the Employee to make repayment. 
 13.7
Procedure for Indemnification. In order to obtain indemnification or advancement of Expenses pursuant to Sections 13.1, 13.2, 13.4 or 13.6 of this Agreement, the Employee shall submit to the Company a written request. Any such indemnification
or 

  
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advancement of Expenses shall be made promptly, and in any event within 30 days after receipt by the Company of the written request of the Employee, unless with respect to requests under Sections
13.1, 13.2 or 13.6 the Company determines within such 30-day period that the Employee did not meet the applicable standard of conduct set forth in Section 13.1 or 13.2, as the case may be. Such determination, and any determination that advanced
Expenses must be repaid to the Company, shall be made in each instance (i) by a majority vote of the directors of the Company consisting of persons who are not at that time parties to the Proceeding (“disinterested directors”),
whether or not a quorum, (ii) by a committee of disinterested directors designated by a majority vote of disinterested directors, whether or not a quorum, (iii) if there are no disinterested directors, or if the disinterested directors so
direct, by independent legal counsel (who may, to the extent permitted by applicable law, be regular legal counsel to the Company) in a written opinion, or (iv) by the stockholders of the Company. 

13.8 Remedies. The right to indemnification or advancement of Expenses as provided by this Agreement shall be enforceable by the
Employee in any court of competent jurisdiction. Unless otherwise required by law, the burden of proving that indemnification is not appropriate shall be on the Company. Neither the failure of the Company to have made a determination prior to the
commencement of such action that indemnification is proper in the circumstances because the Employee has met the applicable standard of conduct, nor an actual determination by the Company pursuant to Section 13.7 that the Employee has not met
such applicable standard of conduct, shall be a defense to the action or create a presumption that the Employee has not met the applicable standard of conduct. The Employee’s expenses (of the type described in the definition of
“Expenses” below) reasonably incurred in connection with successfully establishing the Employee’s right to indemnification, in whole or in part, in any such Proceeding shall also be indemnified by the Company. 

13.9 Partial Indemnification. If the Employee is entitled under any provision of this Agreement to indemnification by the Company for
some or a portion of the Expenses, judgments, fines, penalties or amounts paid in settlement actually and reasonably incurred by or on behalf of the Employee in connection with any Proceeding but not, however, for the total amount thereof, the
Company shall nevertheless indemnify the Employee for the portion of such Expenses, judgments, fines, penalties or amounts paid in settlement to which the Employee is entitled. 

13.10 Subrogation. In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to
all of the rights of recovery of the Employee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such
rights. 
 13.11 Indemnification Hereunder Not Exclusive. The indemnification and advancement of Expenses provided by this Agreement
shall not be deemed exclusive of any other rights to which the Employee may be entitled under the Company’s Certification of Incorporation, the By-Laws, any other agreement, any vote of stockholders or disinterested directors, the General
Corporation Law of Delaware, any other law (common or statutory), or otherwise, both as to action in the Employee’s official capacity and as to action in another capacity while holding office for the Company. Nothing contained in this Agreement
shall be 

  
 12 

 
deemed to prohibit the Company from purchasing and maintaining insurance, at its expense, to protect itself or the Employee against any expense, liability or loss incurred by it or the Employee
in any such capacity, or arising out of the Employee’s status as such, whether or not the Employee would be indemnified against such expense, liability or loss under this Agreement; provided that the Company shall not be liable under this
Agreement to make any payment of amounts otherwise indemnifiable hereunder if and to the extent that the Employee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 

13.12 Definitions. As used in this Section 13: 

(i) The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, alternative dispute
resolution proceeding, administrative hearing or other proceeding, whether brought by or in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature, and any appeal therefrom. 

(ii) The term “Corporate Status” shall mean the status of a person who is or was a director or officer of the Company, or is or was
serving, or has agreed to serve, at the request of the Company, as a director, officer, partner, trustee, member, employee or agent of another corporation, partnership, joint venture, trust, limited liability company or other enterprise. 

(iii) The term “Expenses” shall include, without limitation, attorneys’ fees, retainers, court costs, transcript costs, fees
and expenses of experts, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and other disbursements or expenses of the types customarily incurred in connection with investigations,
judicial or administrative proceedings or appeals, but shall not include the amount of judgments, fines or penalties against the Employee or amounts paid in settlement in connection with such matters. Notwithstanding any provision of this Section to
the contrary, (i) the expenses eligible for reimbursement may not affect the expenses eligible for reimbursement in any other taxable year, (ii) such reimbursement must be made on or before the last day of the year following the year in
which the expenses was incurred, and (iii) the right to reimbursement is not subject to liquidation or exchange for another benefit. 

(iv) References to “other enterprise” shall include employee benefit plans; references to “fines” shall include any
excise tax assessed with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves
services by, such director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interests of the
participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement. 

13.13 Savings Clause. If this Section 13 or any portion thereof shall be invalidated on any ground by any court of competent
jurisdiction, then the Company shall nevertheless indemnify the Employee as to Expenses, judgments, fines, penalties and amounts paid in settlement with respect to any Proceeding to the full extent permitted by any applicable portion of this
Section 13 that shall not have been invalidated and to the fullest extent permitted by applicable law. 

  
 13 

 13.14 Applicable Law. Notwithstanding anything herein to the contrary, this
Section 13 shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware. The Employee may elect to have the right to indemnification or reimbursement or advancement of Expenses interpreted on the basis
of the applicable law in effect at the time of the occurrence of the event or events giving rise to the applicable Proceeding, to the extent permitted by law, or on the basis of the applicable law in effect at the time such indemnification or
reimbursement or advancement of Expenses is sought. Such election shall be made, by a notice in writing to the Company, at the time indemnification or reimbursement or advancement of Expenses is sought; provided, however, that if no such notice is
given, and if the General Corporation Law of Delaware is amended, or other Delaware law is enacted, to permit further indemnification of the directors and officers, then the Employee shall be indemnified to the fullest extent permitted under the
General Corporation Law, as so amended, or by such other Delaware law, as so enacted. 
 13.15 Enforcement. The Company expressly
confirms and agrees that it has entered into this Agreement in order to induce the Employee to continue to serve as an officer of the Company, among other things, and acknowledges that the Employee is relying upon this Agreement in continuing in
such capacity. 
 13.16 Consent to Suit. In the case of any dispute under or in connection with this Section 13, the Employee
may only bring suit against the Company in the Court of Chancery of the State of Delaware. The Employee hereby consents to the exclusive jurisdiction and venue of the courts of the State of Delaware, and the Employee hereby waives any claim the
Employee may have at any time as to forum non conveniens with respect to such venue. The Company shall have the right to institute any legal action arising out of or relating to this Section 13 in any court of competent jurisdiction. Any
judgment entered against either of the parties in any proceeding hereunder may be entered and enforced by any court of competent jurisdiction. 

14. Section 409A of the Internal Revenue Code. All payments and benefits provided under this Agreement are intended to either
comply with or be exempt from Section 409A and this Agreement shall be administered and construed accordingly. The Company makes no representations or warranty and shall have no liability to the Employee or any other person if any payments made
under this Agreement are determined to constitute deferred compensation subject to Section 409A but not to satisfy the conditions of that section. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided
in accordance with the requirements of Section 409A to the extent that such reimbursements or in-kind benefits are subject to Section 409A, including, where applicable, the requirements that (i) any reimbursement is for expenses
incurred during the Employee’s lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement
in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject
to set off or liquidation or exchange for any other benefit. 

  
 14 

 15. Counterparts. This Agreement may be executed in two counterparts, each of which shall
be deemed to be an original, but all of which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the day and year set forth above. 
  

			
	CURIS, INC.
		
	By:	 	 /s/ Ali Fattaey

	Name:	 	Ali Fattaey, Ph.D.
	Title:	 	President & COO
	
	EMPLOYEE
		
	By:	 	 /s/ Jaye Viner

		 	Jaye Viner, M.D.

  
 15EX-10.75

 Exhibit 10.75 

EXECUTION 
 AMENDMENT NO. 6

 TO MASTER REPURCHASE AGREEMENT 

Amendment No. 6, dated as of September 27, 2013 (this “Amendment”), among Credit Suisse First Boston Mortgage
Capital LLC (the “Buyer”), PennyMac Mortgage Investment Trust Holdings I, LLC (the “Existing Seller”) and PennyMac Mortgage Investment Trust and PennyMac Operating Partnership, L.P. (each, a
“Guarantor” and collectively, the “Guarantors”) and PennyMac Operating Partnership, L.P., in its capacity as a seller (the “Joining Seller,” together with the Existing Seller, the
“Sellers”). 
 RECITALS 

The Buyer, the Existing Seller and the Guarantors are parties to that certain Master Repurchase Agreement, dated as of March 29, 2012 (as
amended by Amendment No. 1, dated as of July 25, 2012, Amendment No. 2, dated as of September 26, 2012, Amendment No. 3, dated as of October 29, 2012, Amendment No. 4, dated as of June 1, 2013 and Amendment
No. 5, dated as of August 29, 2013, the “Existing Repurchase Agreement”; and as further amended by this Amendment, the “Repurchase Agreement”). The Guarantors are parties to that certain Guaranty (the
“Guaranty”), dated as of March 29, 2012, as the same may be further amended from time to time, by the Guarantors in favor of Buyer. Capitalized terms used but not otherwise defined herein shall have the meanings given to them
in the Existing Repurchase Agreement and Guaranty, as applicable. 
 The Buyer and Existing Seller have agreed, subject to the terms and
conditions of this Amendment, that the Existing Repurchase Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Repurchase Agreement and to permit the Joining Seller to become an additional Seller under the
Repurchase Agreement. 
 As a condition precedent to amending the Existing Repurchase Agreement, the Buyer has required the Guarantors to
ratify and affirm the Guaranty on the date hereof. 
 Accordingly, the Buyer, the Existing Seller, the Joining Seller and the Guarantors
hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, that the Existing Repurchase Agreement is hereby amended as follows: 

SECTION 1. Agreement and Joinder with respect to Joining Seller. Joining Seller hereby agrees to all of the provisions of the
Repurchase Agreement, and effective on the date hereof, becomes a Seller under the Repurchase Agreement with the same effect as if the undersigned were an original signatory in its capacity as Seller to the Repurchase Agreement. All references to
Seller or Sellers in the Repurchase Agreement and the other Program Agreements shall be deemed to include the Joining Seller. 
 SECTION 2.
Definitions related to Joinder. Section 2 of the Existing Repurchase Agreement is hereby amended by: 
 2.1 deleting the
definitions of “Repurchase Date”, “Seller” and “Servicing Agreement” in their entirety and replacing them with the following: 

  
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 “Repurchase Date” means the earliest of (a) the Termination Date,
(b) the date set forth in the applicable Purchase Confirmation with respect to an Exception Mortgage Loan, (c) the date determined by application of Section 16 hereof, (d) any other date requested by Seller upon one
(1) Business Day's prior written notice subject to Section 4 hereof and (e) the date that is 364 days from the related Purchase Date. 

“Seller” means, collectively, PennyMac Mortgage Investment Trust Holdings I, LLC and PennyMac Operating Partnership, L.P., or
their respective permitted successors and assigns. 
 “Servicing Agreement” means that certain Second Amended and Restated
Flow Servicing Agreement, dated as of March 1, 2013, by and between PennyMac Operating Partnership, L.P. and Servicer, as the same may be amended from time to time. 

2.2 adding the definition of “PMITH” in its proper alphabetical order: 

“PMITH” means PennyMac Mortgage Investment Trust Holdings I, LLC. 

SECTION 3. Payment and Transfer. Section 9 of the Existing Repurchase Agreement is hereby amended by deleting the first sentence
in its entirety and replacing it with the following: 
 Unless otherwise mutually agreed in writing, all transfers of funds
to be made by Seller hereunder shall be made in Dollars, in immediately available funds, without deduction, set-off or counterclaim, to Buyer at the following account maintained by Buyer: Account No. 30897656, for the account of CSFB
Buyer/PennyMac Mortgage Investment Trust Holdings I, LLC/PennyMac Operating Partnership, L.P.-Inbound Account, Citibank, ABA No. 021 000 089 or such other account as Buyer shall specify to Seller in writing. 

SECTION 4. Representations and Warranties. Section 13 of the Existing Repurchase Agreement is hereby amended by: 

4.1 deleting subsection (a)(1) in its entirety and replacing it with the following: 

“(1) Sellers and Guarantors Existence. PennyMac Mortgage Investment Trust Holdings I, LLC has been duly organized
and is validly existing as a limited liability company in good standing under the laws of the State of Delaware. PennyMac Mortgage Investment Trust has been duly organized and is validly existing as a real estate investment trust in good standing
under the laws of the State of Maryland. PennyMac Operating Partnership, L.P. has been duly organized and is validly existing as a limited partnership in good standing under the laws of the State of Delaware. 

SECTION 5. Covenants. Section 14 of the Existing Repurchase Agreement is hereby amended by deleting subsections s and dd (i),
(ii) and (iv) in their entirety and replacing them with the following, respectively: 

  
 -2- 

 s. Guarantees. PMITH shall not create, incur, assume or suffer to exist any Guarantees,
except (i) to the extent reflected in PMITH’s financial statements or notes thereto and (ii) to the extent the aggregate Guarantees of PMITH do not exceed $250,000. 

dd. Financial Covenants. Sellers, PMIT and Underlying Repurchase Counterparty shall at all times comply with all financial covenants
and/or financial ratios set forth below: 
  

	 	(i)	Adjusted Tangible Net Worth. (A) Underlying Repurchase Counterparty shall maintain an Adjusted Tangible Net Worth of at least $150,000,000, (B) PMITH shall maintain an Adjusted Tangible Net Worth of at
least $250,000,000, (C) PMIT shall maintain an Adjusted Tangible Net Worth of at least $860,000,000 and (D) PennyMac Operating Partnership, L.P. shall maintain an Adjusted Tangible Net Worth of at least $700,000,000. 

 

	 	(ii)	Indebtedness to Adjusted Tangible Net Worth Ratio. Underlying Repurchase Counterparty’s ratio of Indebtedness (on and off balance sheet) to Adjusted Tangible Net Worth shall not exceed 10:1. PMITH’s
ratio of Indebtedness (on and off balance sheet) to Adjusted Tangible Net Worth shall not exceed 5:1. PMIT’s ratio of Indebtedness (on and off balance sheet) to Adjusted Tangible Net Worth shall not exceed 5:1. PennyMac Operating Partnership,
L.P.’s ratio of Indebtedness (on and off balance sheet) to Adjusted Tangible Net Worth shall not exceed 5:1. 

  

	 	(iv)	Maintenance of Liquidity. PMITH, Underlying Repurchase Counterparty, PennyMac Operating Partnership, L.P. and PMIT shall ensure that, as of the end of each calendar month, they have consolidated cash and Cash
Equivalents other than Restricted Cash in amounts not less than (i) with respect to the PMITH, $10,000,000, (ii) with respect to the Underlying Repurchase Counterparty, $10,000,000, (iii) with respect to PMITH and the Underlying
Repurchase Counterparty, $25,000,000 in the aggregate, (iv) with respect to PMIT, $40,000,000 and (v) with respect to PennyMac Operating Partnership, L.P., $40,000,000. 

SECTION 6. Joint and/or Several Liability of Sellers. The Existing Repurchase Agreement is hereby amended by adding the following
section at the end thereof: 
 “41. Joint and/or Several Liability of Sellers 

a. Each Seller shall be jointly and severally liable for the rights, covenants, obligations and warranties and representations of each other
Seller as contained herein and the actions of any Person (including another Seller) or third party shall in no way affect such joint and several liability. 

b. Each Seller acknowledges and agrees that a Default or an Event of Default is hereby considered a Default or an Event of Default by each
Seller. 

  
 -3- 

 c. Each Seller acknowledges and agrees that the Buyer shall have no obligation to proceed against
one Seller before proceeding against another Seller. Each Seller hereby waives any defense to its obligations under this Agreement or any other Program Agreement based upon or arising out of the disability or other defense or cessation of liability
of one Seller versus the other.” 
 SECTION 7. Authorized Representatives. Authorized Representatives for Joining Seller are as
set forth in Schedule 1 attached hereto, which hereby supplements Schedule 2 to the Repurchase Agreement. 
 SECTION 8.
Exhibits. Exhibits H, I and L are deleted in their entirety and replaced with Exhibits 1, 2 and 3 hereto. 
 SECTION 9. Conditions
Precedent. This Amendment shall become effective as of the date hereof (the “Amendment Effective Date”), subject to the satisfaction of the following conditions precedent: 

9.1 Delivered Documents. On the Amendment Effective Date, the Buyer shall have received the following documents, each of which shall be
satisfactory to the Buyer in form and substance: 
 (a) this Amendment, executed and delivered by duly authorized officers of
the Buyer, the Sellers and the Guarantors; 
 (b) Amendment No. 4, dated as of the date hereof to that certain Pricing
Side Letter dated March 29, 2012, among the Buyer, the Sellers and the Guarantors; 
 (c) Amendment No. 2, dated as
of the date hereof to that certain Custodial Agreement dated March 29, 2012, among the Buyer, the Sellers and Deutsche Bank National Trust Company; 

(d) Amendment No. 1, dated as of the date hereof to that certain Electronic Tracking Agreement dated March 29, 2012,
among the Buyer, the Sellers, PennyMac Corp., the Electronic Agent and MERS; 
 (e) Amendment No. 1, dated as of the
date hereof to that certain Securities Account Control Agreement dated March 29, 2012, among the Buyer, the Sellers and PennyMac Loan Services, LLC, City National Bank and City National Securities, Inc.; 

(f) An Officer’s Certificate of Joining Seller delivered to Buyer prior to the Amendment Effective Date and certified
copies of the organizational documents of Joining Seller and of all corporate or other authority for Joining Seller with respect to the execution, delivery and performance of the Program Agreements and each other document to be delivered by Joining
Seller from time to time in connection herewith; 
 (g) A certified copy of a good standing certificate (or its documentary
equivalent) from the jurisdiction of organization of Joining Seller dated as of no earlier than the date ten (10) Business Days prior to the Amendment Effective Date; 

  
 -4- 

 (h) an incumbency certificate of Joining Seller certifying the names, true
signatures and titles of the representatives duly authorized to request transactions hereunder and to execute the Program Agreements; 

(i) evidence that all other actions necessary to perfect and protect Buyer’s interest in the Purchased Mortgage Loans and
other Repurchase Assets have been taken. Each Seller shall take all steps as may be necessary in connection with performing UCC searches and filing duly authorized and filed Uniform Commercial Code financing statements on Form UCC-1 and UCC-3 as
applicable; 
 (j) Amended and Restated Servicer Notice and Pledge, dated as of the date hereof, among the Buyer, the Sellers
and PennyMac Loan Services, LLC, as Servicer; 
 (k) Power of Attorney; 

(l) Notice to Custodian; 

(m) Instruction Letters; and 

(n) such other documents as the Buyer or counsel to the Buyer may reasonably request. 

SECTION 10. Representations and Warranties. Each Seller hereby represents and warrants to the Buyer that it is in compliance with all
the terms and provisions set forth in the Existing Repurchase Agreement on its part to be observed or performed, and that no Event of Default has occurred and is continuing, and hereby confirms and reaffirms the representations and warranties
contained in Section 13 of the Existing Repurchase Agreement. 
 SECTION 11. Limited Effect. Except as expressly amended and
modified by this Amendment, the Existing Repurchase Agreement shall continue to be, and shall remain, in full force and effect in accordance with its terms and the execution of this Amendment by the Buyer. 

SECTION 12. Counterparts. This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of
which shall be an original and all of which taken together shall constitute one and the same instrument. 
 SECTION 13. Severability.
Each provision and agreement herein shall be treated as separate and independent from any other provision or agreement herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement. 

SECTION 14. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF. 
 SECTION 15. Reaffirmation of Guaranty. The Guarantors hereby
ratify and affirm all of the terms, covenants, conditions and obligations of the Guaranty and acknowledge 

  
 -5- 

 
and agree that the term “Obligations” as used in the Guaranty shall apply to all of the Obligations of Seller to Buyer under the Repurchase Agreement, as amended hereby. 

[Remainder of page intentionally left blank] 

  
 -6- 

 IN WITNESS WHEREOF, the parties have caused their names to be signed hereto by their respective
officers thereunto duly authorized as of the day and year first above written. 
  

			
	Credit Suisse First Boston Mortgage Capital LLC, as     Buyer
		
	By:	 	 /s/ Adam Loskove

		 	Name: Adam Loskove
		 	Title:   Vice President
	
	PennyMac Mortgage Investment Trust Holdings I,     LLC, as Existing Seller
		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title:   Managing Director, Treasurer
	
	PennyMac Mortgage Investment Trust, as Guarantor
		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title:   Managing Director, Treasurer
	
	PennyMac Operating Partnership, L.P., as Joining             Seller and Guarantor
	
	By: PennyMac GP OP, Inc., its General Partner
		
	By:	 	 /s/ Pamela Marsh

		 	Name: Pamela Marsh
		 	Title:   Managing Director, Treasurer

 Signature Page to Amendment No. 6 to Master Repurchase Agreement

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