Document:

License and Development Agreement

			
	Dated:	  	9 March 2004

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

EXHIBIT 4.7 
 BIOMIRA, INC. 
 and 

CANCER VAC PTY LTD ACN 096 859 513 
 and 
 PRIMA BIOMED LIMITED ACN 009 237 889 

 
  
 LICENSE AND DEVELOPMENT 
 AGREEMENT 

 
  
 OAKLEY THOMPSON & Co 
 Solicitors & Consultants 

Level 17 
 500
Collins Street 
 MELBOURNE VIC 3000 
 AUSTRALIA 
 Tel: +61 3 9614 3771 

Fax: +61 3 9629 2883 
 DX 30975 STOCK EXCHANGE 
 Ref: MJQ:JP:20030691 

 LICENSE AND DEVELOPMENT AGREEMENT 

This Agreement made as of the 9th day of March, 2004. 
 AMONG: 
 BIOMIRA INC., a corporation incorporated under the
laws of Canada 
 (hereinafter referred to as “Biomira”) 

- and - 
 CANCER VAC PTY LTD ACN 096 859 513, a corporation incorporated under the laws of Australia (hereinafter referred to as “Cancer Vac”) 

- and - 
 PRIMA BIOMED LIMITED ACN 009 237 889, a corporation incorporated under the laws of Australia (hereinafter referred to as “Prima Biomed”) 

WHEREAS Biomira, Cancer Vac and Prima Biomed are interested in forming an arrangement concerning the development and commercialization of
Cancer Vac’s mannan-MUC1 fusion protein therapeutic vaccine delivered via ex-vivo dendritic cells, all upon the terms and subject to the conditions set forth in this Agreement and will, inter alia, enter into a subscription agreement and
a shareholder agreement; 
 NOW, THEREFORE, in consideration of the premises and covenants contained herein and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged and agreed to by the parties, and intending to be legally bound hereby, the parties hereto agree as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.1 Definitions 
 In this Agreement, unless otherwise provided, the following terms shall have the following meanings: 
  

	 	1.1.1	 “Affiliate” means any Person that directly or indirectly controls, is controlled by, or is under common control with another Person. A
Person shall be deemed to “control” another Person if the Person owns, directly or indirectly, more than fifty percent (50%) of the outstanding voting securities, capital stock, or other comparable equity or ownership interest of such
Person. If the laws of the jurisdiction in which such Person operates prohibit ownership of more than fifty percent (50%), control shall be deemed to exist at the maximum level of

  
 1. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
ownership allowed by such jurisdiction; 

  

	 	1.1.2	 “Agreement” means this license and development agreement, together with all schedules hereto and any amendments to or restatements of this
license and development agreement; 

  

	 	1.1.3	 “ARI License Agreements” means: 

  

	 	1.1.3.1	 that certain license agreement among Cancer Vac, Prima Biomed and Ilexus Pty Ltd ACN 064 772 130 dated May 31, 2001; and

  

	 	1.1.3.2	 that certain license agreement between The Austin Research Institute ACN 007 418 224 and Ilexus Pty Ltd ACN 064 772 103 dated April 4, 2001;

 together with all schedules thereto and any amendments to or restatements of such license
agreements; 
  

	 	1.1.4	 “Biomira End User” shall, for purposes of section 1.1.5 of this Agreement, mean, with respect to a Product, the first purchaser at
arm’s length (or, if not at arm’s length, as provided for in section 1.1.5 of this Agreement) with Biomira, an Affiliate of Biomira or a sublicensee of any of them, as the case may be, that acquires such Product in final form for end use,
including physicians, hospitals and wholesalers, provided that [ * ] such Product is sold to such person [ * ] such Product in the country in question; 

 

	 	1.1.5	 “Biomira Net Sales” shall mean, with respect to a Product in a particular country, the sum of the gross amounts received for all Sales
(directly or indirectly) by Biomira, its Affiliates and their respective sublicensees, assignees and transferees of such Product to Biomira End Users, less the following deductions from such amounts invoiced which are actually and properly incurred
in accordance with GAAP: 

  

	 	1.1.5.1	 credits or allowances actually granted for damaged Product, returns or rejections of Product; 

 

	 	1.1.5.2	 normal and customary trade, cash and quantity discounts, allowances and credits actually allowed; 

 

	 	1.1.5.3	 sales, value added or similar taxes measured by the billing amount, when included in billing; 

 

	 	1.1.5.4	 freight, postage, shipping, and insurance charges related to delivery of Product measured by the billing amount, when included in billing; and

  

	 	1.1.5.5	 import and export duties actually paid. 

 Any refund or reimbursement of any of the foregoing amounts previously 

  
 2. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
deducted from Biomira Net Sales shall be appropriately credited upon receipt thereof (as Biomira Net Sales earned in the calendar quarter in which such refund or reimbursement was received).

 In circumstances where there is a Sale between Biomira and its Affiliates, where Biomira or its Affiliate is
a Biomira End User, the “amount received” with respect to such Sale shall, for purposes of calculating “Biomira Net Sales”, be the greater of (a) the actual amount received with respect to such Sale, and (b) the amount
which the amount received would have been had such Sale been to a Person at arm’s length with Biomira or such Affiliate. 
 If Product is Sold in combination with another product or products (e.g., in the same kit or package) and each such product has a separate and distinguishable list price, then “Biomira Net
Sales” under such circumstances shall be calculated by multiplying the “Biomira Net Sales” for the combined product by the fraction A/(A+B), in which A is the existing list price for the Product when Sold separately, and B is the
existing list price for any other product or products in combination when Sold separately. For greater certainty, the incorporation of a Product into another product shall not be considered “another product” for purposes of this final
paragraph of this section 1.1.5 and “Biomira Net Sales” under such circumstances shall be based on the gross amount received for the combined product. 

If Product is Sold to a Biomira End User [ * ] such Product in the country in question, then, for purposes of this
section 1.1.5, the gross amounts received from such Sales shall be [ * ] of such Product in the country in question; 
  

	 	1.1.6	 “Biomira Territory” means the territory applicable to the license granted by Cancer Vac to Biomira and its Affiliates pursuant to section
3.1.1 of this Agreement, all as determined in accordance with section 3.1.3 of this Agreement; 

  

	 	1.1.7	 “Cancer Vac End User” shall, for purposes of section 1.1.10 of this Agreement, mean, with respect to a Product, the first purchaser at
arm’s length (or, if not at arm’s length, as provided for in section 1.1.10 of this Agreement) with Cancer Vac, an Affiliate of Cancer Vac or a sublicensee of any of them, as the case may be, that acquires such Product in final form for
end use, including physicians, hospitals and wholesalers, provided that [ * ] such Product is sold to such person [ * ] such Product in the country in question; 

 

	 	1.1.8	 “Cancer Vac Improvements” has the meaning attributed to that term in section 6.2 of this Agreement; 

 

	 	1.1.9	 “Cancer Vac Know-How” means all proprietary information and data in the Field including but not limited to compounds, formulae, protocols,
methods, techniques and results of experimentation and testing, which, except for published patent applications which are also included within this definition, is generally not known to the public, and which are owned by Cancer Vac or licensed in by
Cancer Vac 

  
 3. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
(including without limitation pursuant to the ARI License Agreements), and which relate to research, development, manufacture, use and/or sale of Product including without limitation the know-how
set forth in Schedule A to this Agreement. For greater certainty, Cancer Vac Know-How shall include Cancer Vac Improvements and Improvements licensed in by Cancer Vac which arise or occur after the Effective Date and which fall within the ambit of
the preceding sentence; 

  

	 	1.1.10	 “Cancer Vac Net Sales” shall mean, with respect to a Product in a particular country, the sum of the gross amounts received for all Sales
(directly or indirectly) by Cancer Vac, its Affiliates and their respective sublicensees, assignees and transferees of such Product to Cancer Vac End Users, less the following deductions from such amounts invoiced which are actually and properly
incurred in accordance with GAAP: 

  

	 	1.1.10.1	 credits or allowances actually granted for damaged Product, returns or rejections of Product; 

 

	 	1.1.10.2	 normal and customary trade, cash and quantity discounts, allowances and credits actually allowed; 

 

	 	1.1.10.3	 sales, value added or similar taxes measured by the billing amount, when included in billing; 

 

	 	1.1.10.4	 freight, postage, shipping, and insurance charges related to delivery of Product measured by the billing amount, when included in billing; and

  

	 	1.1.10.5	 import and export duties actually paid. 

 Any refund or reimbursement of any of the foregoing amounts previously deducted from Cancer Vac Net Sales shall be appropriately credited upon receipt thereof (as Cancer Vac Net Sales earned in the
calendar quarter in which such refund or reimbursement was received). 
 In circumstances where there is a Sale
between Cancer Vac and its Affiliates, where Cancer Vac or its Affiliate is a Cancer Vac End User, the “amount received” with respect to such Sale shall, for purposes of calculating “Cancer Vac Net Sales”, be the greater of
(a) the actual amount received with respect to such Sale, and (b) the amount which the amount received would have been had such Sale been to a Person at arm’s length with Cancer Vac or such Affiliate. 

If Product is Sold in combination with another product or products (e.g., in the same kit or package) and each such
product has a separate and distinguishable list price, then “Cancer Vac Net Sales” under such circumstances shall be calculated by multiplying the “Cancer Vac Net Sales” for the combined product by the fraction A/(A+B), in which
A is the existing list price for the Product when Sold separately, and B is the existing list price for any other product or products in 

  
 4. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
combination when Sold separately. For greater certainty, the incorporation of a Product into another product shall not be considered “another product” for purposes of this final
paragraph of this section 1.1.10 and “Cancer Vac Net Sales” under such circumstances shall be based on the gross amount received for the combined product. 

If Product is Sold to a Cancer Vac End User [ * ] such Product in the country in question, then, for purposes of this
section 1.1.5, the gross amounts received from such Sales shall be [ * ] of such Product in the country in question; 
  

	 	1.1.11	 “Cancer Vac Patent Rights” means all rights applicable in the Field owned by or licensed in by Cancer Vac including without limitation the
following: 

  

	 	1.1.11.1	 the patents listed on Schedule B of this Agreement; 

 

	 	1.1.11.2	 any patent issuing on any patent application identified in Schedule B of this Agreement; and 

 

	 	1.1.11.3	 any patent issuing from any continuing applications of those patents or patent applications, including any divisions, continuations, and
continuation-in-part applications, as well as any patents issuing on any reissue and/or reexamination application, and including any patent term restoration of any such patents. 

Cancer Vac Patent Rights also includes all rights applicable in the Field owned by or licensed in by Cancer Vac in any
foreign patents and patent applications which correspond to those described in the preceding sentence and in any patents or patent applications that claim Cancer Vac Improvements and which fall within the Field; 

 

	 	1.1.12	 “Cancer Vac Technology” means all Cancer Vac Patent Rights and Cancer Vac Know-How; 

 

	 	1.1.13	 “Cancer Vac Territory” means Australia, New Zealand and, except to the extent that Biomira elects in accordance with section 3.1.2 of this
Agreement to receive a license to all or a portion thereof (and has not rescinded such election), the Territory; 

  

	 	1.1.14	 “Clinical Development” means all activities required for Market Approval of Product (including without limitation non-clinical and
clinical trials, including but not limited to, toxicology and absorption, distribution, metabolism and elimination studies), as well as all clinical activities desirable for optimized marketing of Product (including without limitation Phase IIIb and
Phase IV studies). This term does not include any activities necessary for manufacture and/or supply of Product; 

  

	 	1.1.15	 “Commercial Manufacturing Plan” has the meaning attributed to that term in

  
 5. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
section 4.2.2; 

  

	 	1.1.16	 “Confidential Information” has the meaning attributed to that term in section 5.1; 

 

	 	1.1.17	 “CRTL” means Cancer Research Technology Limited and any successor corporation; 

 

	 	1.1.18	 “CRTL License Agreement” means that certain amended and restated license agreement between CRTL and Biomira dated November 14, 2000,
together with all schedules thereto and any amendments to or restatements of such amended and restated license agreement; 

  

	 	1.1.19	 “CRTL Technology” means the know-how and patent rights specified in Schedule C to this Agreement licensed by CRTL to Biomira under the
CRTL License Agreement and which are in the Field; 

  

	 	1.1.20	 “Development Costs” means, following the Phase IIb trial referred to in section 3.1.3.2 of this Agreement, the direct costs and expenses
(which shall be burdened and allocated as determined by the Steering Committee or failing the Steering Committee addressing such issues, in accordance with GAAP) incurred by or on behalf of a party pursuant to, and within the budgeted amounts set
forth in, an approved Development Plan, or otherwise approved by the Steering Committee, in connection with the Clinical Development of Products, including but not limited to the cost of studies on the toxicological, pharmacokinetic, metabolic or
clinical aspects of a Product, for preparing, submitting, reviewing or developing data or information for the purpose of submission to a governmental authority to obtain and/or maintain approval of a Product, costs of post-Launch clinical studies in
support of a Product, costs of data management, statistical designs and studies, document preparation and other expenses associated with Clinical Development, but excluding for greater certainty any indirect costs (including administration, support,
depreciation, facility rental, repair and maintenance, utilities, insurance, taxes, cost of capital, and the like) except to the extent that the Steering Committee determines that to exclude a particular indirect cost is inequitable as between
Biomira and Cancer Vac; 

  

	 	1.1.21	 “Development Plan” has the meaning attributed to that term in section 4.2.1; 

 

	 	1.1.22	 “Effective Date” shall mean the 9th day of March, 2004, or such other date as the parties to this Agreement may agree upon in writing;

  

	 	1.1.23	 “EMEA” means the European Medicines Evaluation Agency, or any successor organization; 

 

	 	1.1.24	 “FDA” means the United States Food and Drug Administration, or any successor organization; 

 

	 	1.1.25	 “Field” means the use of a Product for the treatment of cancer; 

  
 6. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	1.1.26	 “Force Majeure” has the meaning as set out in section 11.1; 

 

	 	1.1.27	 “GAAP” means Canadian generally accepted accounting principles, consistently applied; 

 

	 	1.1.28	 “Improvements” has the meaning attributed to that term in section 6.1; 

 

	 	1.1.29	 “Joint Improvements” has the meaning attributed to that term in section 6.1; 

 

	 	1.1.30	 “Launch” shall mean, with respect to a particular Product in a particular country, the date of the first arms’ length sale of such
Product in such country after receipt of Market Approval for such Product in such country; 

  

	 	1.1.31	 “Major Market” shall mean any one of [ * ] or [ * ] and “Major Markets” shall mean all of such countries;

  

	 	1.1.32	 “Market Approval” shall mean, with respect to a particular Product in a particular country, the date upon which the last of all
governmental or regulatory approvals required for the sale of such Product in that country has been granted, including price approval for such Product (if required); 

 

	 	1.1.33	 “Marketing Plan” has the meaning attributed to that term in section 4.2.3; 

 

	 	1.1.34	 “North American Territory” means Canada, the United States of America and Mexico; 

 

	 	1.1.35	 “Person” means an individual, corporation, company, cooperative, partnership, trust, unincorporated association, entity with juridical
personality or a governmental authority or body, and pronouns which refer to a Person have a similar extended meaning; 

  

	 	1.1.36	 “Product” means Cancer Vac’s mannan-MUC1 fusion protein therapeutic vaccine delivered via ex-vivo dendritic cells, [ * ];

  

	 	1.1.37	 “Prodrug” means a chemical precursor of a Product which is to be cleaved in a human being directly into a Product and/or a metabolic
intermediate thereof, [ * ]; 

  

	 	1.1.38	 “Project Team” has the meaning attributed to that term in section 4.2.6 of this Agreement; 

 

	 	1.1.39	 “Put Agreement” means that certain put option deed of even date herewith between Biomira and Prima Biomed, together with all schedules
thereto and any amendments to or restatements of such put option deed; 

  

	 	1.1.40	 “Regulatory Authority” means, with respect to a particular Product Sold or to be Sold in a particular country, those government agencies
or authorities responsible for the approval and regulation of such Product and the Sale thereof in such country; 

  
 7. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	1.1.41	 “ROW Territory” shall mean all countries of the world except Canada, the United States of America, Mexico, Australia and New Zealand;

  

	 	1.1.42	 “Sale” includes, with respect to a particular Product, the sale or other disposition thereof and “Sell” or “Sold” have
corresponding meanings; 

  

	 	1.1.43	 “Shared Costs” means Development Costs and all other costs and expenses designated under this Agreement or by the Steering Committee as
Shared Costs, but excluding for greater certainty any indirect costs (including administration, support, depreciation, facility rental, repair and maintenance, utilities, insurance, taxes, cost of capital, and the like) except to the extent that the
Steering Committee determines that to exclude a particular indirect cost is inequitable as between Biomira and Cancer Vac; 

  

	 	1.1.44	 “Shareholder Agreement” means that certain shareholders’ deed of even date herewith among Cancer Vac, Biomira, Prima Biomed and
Ilexus Pty Ltd, together with all schedules thereto and any amendments to or restatements of such shareholders’ deed; 

  

	 	1.1.45	 “Steering Committee” has the meaning attributed to that term in section 4.1.1; 

 

	 	1.1.46	 “Subscription Agreement” means that certain subscription deed of even date herewith between Cancer Vac and Biomira, together with all
schedules thereto and any amendments to or restatements of such subscription deed; 

  

	 	1.1.47	 “Term” means the term of this Agreement as specified in section 9.1; 

 

	 	1.1.48	 “Territory” shall mean, collectively, the North American Territory and the ROW Territory; and 

 

	 	1.1.49	 “Valid Claim” means, with respect to a particular Product in a particular country, a claim of a pending and unexpired or issued and
unexpired patent [ * ] which has not been held unenforceable, unpatentable or invalid by a decision of a court or other governmental agency of competent jurisdiction, unappealable or unappealed within the time allowed for appeal, and which has not
been admitted to be invalid or unenforceable through reissue, disclaimer or otherwise; 

 Section 1.2 Number
and Gender 
 Words importing the singular number only in this Agreement shall include the plural number and vice versa
and words importing one gender only in this Agreement shall include all genders and words importing Persons in this Agreement shall include individuals, partnerships, corporations and any other entities, legal or otherwise. 

Section 1.3 Headings 
 The headings used in this Agreement are for ease of reference only and shall not affect the meaning or the interpretation of this Agreement. References to sections and articles are to sections and
articles of this Agreement. 

  
 8. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 1.4 Schedules 
 The following Schedules attached to this Agreement shall form part of this Agreement: 
 Schedule A - Cancer Vac Know-How 
 Schedule B - Cancer Vac Patent
Rights 
 Schedule C - CRTL Know-How and Patent Rights 
 Section 1.5 Effective Date 
 This Agreement shall commence as of the
Effective Date. 
 Section 1.6 Legislation 
 Any reference in this Agreement to legislation or a statute includes, unless otherwise indicated, rules and regulations passed or in force as at the date of this Agreement and any amendments to such rules
or regulations from time to time, and any legislation or regulations substantially replacing the same. 
 ARTICLE 2 

 GRANT OF SUBLICENSE 
 Section 2.1 Biomira Grant of Sublicense 
  

	 	2.1.1	 Subject to the terms and conditions of this Agreement and the CRTL License Agreement, Biomira hereby grants to Cancer Vac a sublicense under the
CRTL Technology to use, develop, market, promote, distribute and sell Product in the Field in the Cancer Vac Territory and, subject to the written approval of the Steering Committee (or, if there is no Steering Committee, the written approval of
Biomira and Cancer Vac, acting reasonably), to manufacture or have manufactured anywhere in the world Product for use in the Field, which sublicense shall be exclusive of Biomira, CRTL and all other Persons subject to the rights specifically
reserved to Biomira, CRTL and their respective Affiliates under this Agreement and the CRTL License Agreement and to the extent otherwise required by applicable law or regulation (as, for example, in the European Union under applicable competition
law). 

  

	 	2.1.2	 Nothing in this Agreement shall in any way limit the right of Biomira, CRTL and their respective Affiliates and licensees to use or exploit the CRTL
Technology outside of the Field. 

 Section 2.2 Sublicenses 

Cancer Vac shall have no right to grant sublicenses under the sublicense set forth in section 2.1 of this Agreement without the prior
written consent of Biomira and CRTL (such consent not to be unreasonably withheld) and, to the extent applicable, complying with the provisions of this Agreement and the CRTL License Agreement. Cancer Vac shall at least [ * ] prior to the execution
of any proposed sublicense agreement provide a complete copy thereof to Biomira for review by Biomira and CRTL. In any such sublicense agreement Cancer Vac shall ensure that the sublicensee is legally bound by the provisions of this Agreement
relating to the use and safeguarding of the licensed technology including the confidentiality provisions in article 5 of this Agreement. No such sublicensee shall grant any further license of such licensed technology

  
 9. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
to any other Person. Cancer Vac shall be responsible for diligently enforcing the provisions of any such sublicense agreement and for the acts and omissions of the sublicensee and all such acts
and omissions of the sublicensee shall be regarded for purposes of this Agreement as the acts and omissions of Cancer Vac. 

Section 2.3 Term of Grant 
 Subject to the terms and conditions of the CRTL License Agreement, the sublicense granted under section 2.1 of this Agreement shall remain in force and effect on a Product-by-Product and
country-by-country basis until the later of: 
  

	 	2.3.1	 the expiration or termination of the last to expire or terminate of Valid Claims that cover such Product in such country;

  

	 	2.3.2	 the expiration or termination of the last to expire or terminate of the exclusivity periods that cover such Product in such country; [ * ]

 Section 2.4 Biomira Clinical Trial Data 

Cancer Vac shall have the right during the Term to use Biomira clinical trial data specifically relating to Product and developed by or on
behalf of Biomira for purposes of this Agreement to develop, market, promote and sell Product in the Field in the Cancer Vac Territory. 

Section 2.5 Bankruptcy or Insolvency 
 All rights and licenses granted to Cancer Vac under this article 2 are, and shall be deemed to be, for purposes of applicable bankruptcy law (including section 365(n) of the United States Bankruptcy
Code), licenses of rights to “intellectual property” (including as such term is defined under section 101(35A) of the United States Bankruptcy Code). 
 Section 2.6 Biomira and CRTL Rights 
 Notwithstanding any
provision to the contrary in this Agreement, Biomira, CRTL and their respective Affiliates shall have the right to carry out research and development in the Field for purposes of developing Improvements. 

Section 2.7 Up-Front Payment 
 In partial consideration of the grant of the sublicense referred to in section 2.1.1 of this Agreement and in addition to the milestone payments provided for in section 2.8 of this Agreement and the
royalty payments provided for in section 2.9 of this Agreement, each of Cancer Vac, Prima Biomed and Ilexus Pty Ltd shall (to the extent they are parties thereto) execute and deliver to Biomira (at the time of execution and delivery of this
Agreement) the Subscription Agreement, the Shareholder Agreement and the Put Agreement. 
 Section 2.8 Milestone Payments

  

	 	2.8.1	 Subject to section 2.8.2 of this Agreement, in partial consideration for the grant of the sublicense referred to in section 2.1.1 of this Agreement
and in addition to the up-front payment provided for in section 2.7 of this Agreement and the royalty payments provided for in section 2.9 of this Agreement, Cancer Vac shall pay to Biomira the following milestone payments within [ * ] of the
occurrence of the applicable event specified below: 

  
 10.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	2.8.1.1	 $[ * ] upon [ * ]; 

  

	 	2.8.1.2	 $[ * ] upon [ * ]; 

  

	 	2.8.1.3	 $[ * ] upon [ * ]; 

  

	 	2.8.1.4	 $[ * ] upon [ * ]; 

  

	 	2.8.1.5	 $[ * ] upon [ * ]; and 

  

	 	2.8.1.6	 $[ * ] upon [ * ]. 

  

	 	2.8.2	 If, in relation to the [ * ], [ * ] are [ * ] under section [ * ] of this Agreement [ * ] for the [ * ] or [ * ] for the [ * ], there shall be [ * ]
under section [ * ] of this Agreement. 

 Section 2.9 Royalty Payments 

In partial consideration for the grant of the sublicense referred to in section 2.1.1 of this Agreement and in addition to the up-front
payment provided for in section 2.7 of this Agreement and the milestone payments provided for in section 2.8.1 of this Agreement, Cancer Vac shall pay to Biomira quarterly during the Term, within [ * ] after the end of each calendar quarter, a
royalty based on Cancer Vac Net Sales of Product at a rate of: 
  

	 	2.9.1	 at any time when [ * ] under section [ * ] of this Agreement [ * ] in relation to the [ * ]: 

 

	 	2.9.1.1	 [ * ] percent ([ * ]%) for Cancer Vac Net Sales of Product in the [ * ]; and 

 

	 	2.9.1.2	 [ * ] percent ([ * ]%) for Cancer Vac Net Sales of Product in the [ * ]; 

provided that [ * ] shall be [ * ] and [ * ], respectively, for any Product Sold in a particular country which at the
time of such Sale [ * ] in such country; 
  

	 	2.9.2	 at any time when [ * ] under section [ * ] of this Agreement [ * ] in relation to the [ * ] the [ * ], [ * ] percent ([ * ]%) for Cancer Vac Net
Sales in the [ * ], provided that [ * ] shall be [ * ] for any Product Sold in a particular country which at the time of such Sale [ * ] in such country; 

 

	 	2.9.3	 at any time when [ * ] under section [ * ] of this Agreement [ * ] in relation to the [ * ] the [ * ], [ * ] percent ([ * ]%) for Cancer Vac Net
Sales in [ * ], provided that [ * ] shall be [ * ] for any Product Sold in a particular country which at the time of such Sale [ * ] in such country; and 

 

	 	2.9.4	 if, during its term, the license provided by CRTL to Biomira under the CRTL License Agreement [ * ], Biomira and Cancer Vac shall review in a spirit
of reasonableness and cooperation the [ * ]. 

  
 11.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 2.10 Sales Report 

Within [ * ] after the end of each calendar quarter during the Term, Cancer Vac shall provide Biomira with a detailed report consistent
with GAAP and the accounting records and principles of Cancer Vac showing in reasonable detail on a Product-by-Product basis: 
  

	 	2.10.1	 the number of units of such Product sold during such calendar quarter; 

 

	 	2.10.2	 to the extent practicable, the total billings for such Product during such calendar quarter; 

 

	 	2.10.3	 to the extent practicable, the deductions applicable to the determination of Cancer Vac Net Sales with respect to such Product during such calendar
quarter; 

  

	 	2.10.4	 the Cancer Vac Net Sales with respect to such Product during such calendar quarter; 

 

	 	2.10.5	 the average sales price of such Product during such calendar quarter; and 

 

	 	2.10.6	 the total royalties due and the basis of the calculation thereof. 

 Section 2.11 Records and Audits 
 Cancer Vac will keep
and maintain proper and complete records and books of account in such form and detail as is necessary for the determination of the amounts payable by Cancer Vac (on behalf of itself and its Affiliates and permitted licensees and distributors) to
Biomira under this Agreement and Cancer Vac shall during normal business hours upon [ * ] prior notice from Biomira make those records available for audit by an internationally recognized accounting firm designated by Biomira (except one to which
Cancer Vac shall have objection, acting reasonably) for the sole purpose of, and Cancer Vac will only be required to disclose information related to; verifying such payments, revenues, Cancer Vac Net Sales, costs, expenses and deductions and the
correctness of calculations and classifications in respect thereof. Cancer Vac shall preserve such records made in any calendar year for a period of [ * ] following the close of that calendar year. In the event that such audit discloses that the
actual royalties or other amounts payable by Cancer Vac to Biomira are greater than the royalties or other amounts paid by Cancer Vac, then Cancer Vac shall pay to Biomira any additional royalties and other amounts based on the results disclosed by
such audit plus interest as provided for in section 2.14 of this Agreement. In the event that such audit discloses that the actual royalties or other amounts payable by Cancer Vac to Biomira pursuant to this article 2 are less than the royalties or
other amounts paid by Cancer Vac, then Biomira shall reimburse Cancer Vac for any such overpayment based on the results disclosed by such audit less Biomira’s reasonable costs of such audit. The cost of such audit shall be borne by Biomira
unless such audit discloses that the actual royalties and other amounts payable by Cancer Vac to Biomira are greater by [ * ] or more than the royalties and other amounts paid by Cancer Vac, or such audit discloses that the actual royalties and
other amounts payable by Cancer Vac to Biomira are less than the royalties and other amounts paid by Cancer Vac, in which case Cancer Vac shall be responsible for payment of all reasonable costs of such audit to a maximum of the amount of any
overpayment by Cancer Vac to Biomira due to an incorrect calculation of royalties and other amounts payable by Cancer Vac and Biomira shall be responsible for payment of all other costs of such audit. Notwithstanding the foregoing, Biomira

  
 12.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
shall not have the right to conduct more than once, for the same purpose, an audit of the same information, books and records; provided, however that if any such audit discloses that the actual
royalties or other amounts payable by Cancer Vac to Biomira hereunder was calculated incorrectly such that a payment by Cancer Vac or a reimbursement by Biomira is required pursuant to this section 2.11, then Biomira shall have a further right to
audit the same information, books and records for the same purpose until such time as no further errors are found. 

Section 2.12 Currency and Conversion 
 All payments made under this Agreement shall be in United States dollars. With respect to any payment based on Cancer Vac Net Sales made in a currency other than U.S. dollars, Cancer Vac shall convert
such Cancer Vac Net Sales to U.S. dollars using the applicable average rate of exchange for U.S. dollars for the prior quarter quoted as local currency per US $1, published in The Financial Times (London edition). 

Section 2.13 Bank Accounts 
 All payments hereunder shall be made by wire transfer of immediately available funds to such bank account as may be designated in writing from time to time by Biomira. 

Section 2.14 Late Payments 
 Any late payments of any nature made under this Agreement shall bear interest, running from the date such payment was due until such payment is made, at a rate per annum equal to the average thirty
(30) day U.S. dollar LIBOR rate (as published from time to time by Reuters) [ * ]. 
 Section 2.15 Commercialization and
Marketing Diligence 

	 	2.15.1	 Cancer Vac agrees to use all reasonable commercial efforts to commercialize the Cancer Vac Technology and the CRTL Technology in the Cancer Vac
Territory and bring Products to the marketplace in the Cancer Vac Territory in a timely manner and to keep such Products competitive with other similar products in the Cancer Vac Territory. 

 

	 	2.15.2	 Cancer Vac shall keep Biomira fully advised (on [ * ] basis or more frequently if circumstances warrant) as to its progress in the development and
commercialization of the Cancer Vac Technology and CRTL Technology and of any Products, and shall provide such additional information to Biomira as Biomira may from time to time reasonably request in connection with the foregoing.

  

	 	2.15.3	 If Biomira reasonably believes that Cancer Vac is not meeting its diligence obligations under section 2.15.1 of this Agreement, then Biomira may
provide Cancer Vac with written notice of such deficiency. If, within [ * ] following receipt by Cancer Vac of such notice, Biomira has not been provided with either evidence satisfactory to Biomira, acting reasonably, that the specified deficiency
has been rectified or a detailed plan of action satisfactory to Biomira, acting reasonably, for Cancer Vac to fully meet its obligations under section 2.15.1 of this Agreement, then Biomira may, at its option, terminate the sublicense granted to
Cancer Vac under this article 2 by providing at least [ * ] further written notice 

  
 13.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
to Cancer Vac of such termination. If Biomira seeks to terminate the sublicense granted to Cancer Vac pursuant to this section 2.15 as aforesaid and Cancer Vac disputes the basis for such
termination, then the issue shall be resolved in accordance with section 11.4 of this Agreement. 

 ARTICLE
3  
 GRANT OF LICENSE 
 Section 3.1 Cancer Vac Grant of License 
  

	 	3.1.1	 Cancer Vac hereby grants to Biomira and its Affiliates a license (with the right to sublicense) under the Cancer Vac Technology (exercisable in the
manner set forth in section 3.1.3 of this Agreement) to use, develop, market, promote, distribute and sell Product in the Field in the Biomira Territory and, subject to the written approval of the Steering Committee (or, if there is no Steering
Committee, the written approval of Biomira and Cancer Vac, acting reasonably) to manufacture or have manufactured anywhere in the world Product for use in the Field, which license shall be exclusive of Cancer Vac and all other Persons subject to the
rights specifically reserved to Cancer Vac under this Agreement and to the extent otherwise required by applicable law or regulation (as, for example, in the European Union under applicable competition law). 

 

	 	3.1.2	 In any sublicense by Biomira of the Cancer Vac Technology, Biomira shall ensure that the sublicensee is legally bound by the provisions of this
Agreement relating to the use and safeguarding of the licensed technology including the confidentiality provisions in article 5 of this Agreement. No such sublicensee shall grant any further license of such licensed technology to any other Person.
Biomira shall be responsible for diligently enforcing the provisions of any such sublicense agreement and for the acts and omissions of the sublicensee and all such acts and omissions of the sublicensee shall be regarded for purposes of this
Agreement as the acts and omissions of Biomira. 

  

	 	3.1.3	 Biomira may exercise the license rights granted by Cancer Vac to Biomira and its Affiliates in section 3.1.1 of this Agreement in the following
manner and circumstances: 

  

	 	3.1.3.1	 for the [ * ], if Biomira elects by written notice to Cancer Vac (within [ * ] of the [ * ] being made available by Cancer Vac to Biomira) to
undertake and fund [ * ] of the costs of the Phase IIb trial of the Product; or 

  

	 	3.1.3.2	 for the [ * ], if Biomira elects by written notice to Cancer Vac (within [ * ] of the [ * ] being made available by Cancer Vac to Biomira) to
undertake and fund [ * ] of the costs of the Phase IIb trial of the Product. In circumstances where Biomira elects to fund [ * ] of the costs of the Phase IIb trial of the Product pursuant to this section 3.1.3.2, Cancer Vac shall (within [ * ] of
Biomira making its election under this section 3.1.3.2) provide to Biomira such [ * ] as Biomira 

  
 14.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
may reasonably request in order to [ * ] that [ * ]. Further, if at any time Cancer Vac fails to [ * ] the Phase IIb trial of the Product, Biomira may, [ * ], by written notice to Cancer Vac,
(a) [ * ] the Phase IIb trial [ * ] and otherwise [ * ] with respect thereto; or (b) [ * ] the Phase IIb trial. If Biomira elects to [ * ] the Phase IIb trial of the Product, Biomira shall receive the rights specified in section [ * ] of
this Agreement, as well as being entitled to [ * ] such Phase IIb trial [ * ] which Biomira is required to [ * ] under [ * ]. 

  

	 	3.1.4	 To the extent that Biomira provides funding or incurs costs in relation to any clinical trials of Product, Cancer Vac shall:

  

	 	3.1.4.1	 if Biomira relinquishes [ * ] the license rights with respect to such Product granted under this section 3.1, reimburse Biomira for the aggregate
amount of such funding and/or costs by providing to Biomira [ * ] of any and all third party up-front, milestone, royalty or other amounts received by Cancer Vac in relation to the Product and/or the Cancer Vac Technology or, if Cancer Vac itself
develops the Product, by providing to Biomira [ * ] of any and all gross revenue received by Cancer Vac in relation to the Product and/or the Cancer Vac Technology; 

 

	 	3.1.4.2	 if Biomira retains the license provided for in section 3.1.1 of this Agreement for the [ * ] and Biomira provides funding or incurs costs in
relation to any clinical trials of Product in excess of [ * ], reimburse Biomira for the aggregate amount of any such funding and/or costs in excess of [ * ] by providing to Biomira [ * ] of any and all third party up-front, milestone, royalty or
other amounts received by Cancer Vac in relation to the Product and/or the Cancer Vac Technology or, if Cancer Vac itself develops the Product, by providing to Biomira [ * ] of any and all gross revenue received by Cancer Vac in relation to the
Product and/or the Cancer Vac Technology. 

  

	 	3.1.5	 Nothing in this Agreement shall in any way limit the right of Cancer Vac and its Affiliates and licensees to use or exploit the Cancer Vac
Technology outside of the Field. 

 Section 3.2 Term of Grant 

The license granted under section 3.1 of this Agreement shall remain in force and effect on a Product-by-Product and country-by-country
basis until the later of: 
  

	 	3.2.1	 the expiration or termination of the last to expire or terminate of Valid Claims that cover such Product in such country;

  

	 	3.2.2	 the expiration or termination of the last to expire or terminate of the exclusivity periods that cover such Product in such country; [ * ]

  
 15.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Notwithstanding any other provision in this Agreement to the contrary, Biomira shall have
the right to terminate the license granted under section 3.1 of this Agreement (and be relieved, inter alia, of its payment and funding obligations under this article 3) at any time prior to Launch by Biomira of a Product in a Major Market,
provided that Biomira, except in circumstances where Cancer Vac has failed to fulfill any of its obligations under this Agreement, provides to Cancer Vac at least [ * ] prior written notice of such termination. 

Section 3.3 Cancer Vac Clinical Trial Data 
 Biomira shall have the right during the Term to use Cancer Vac clinical trial data specifically relating to Product and developed by or on behalf of Cancer Vac for purposes of this Agreement to develop,
market, promote, and sell Product in the Field in the Biomira Territory. 
 Section 3.4 Bankruptcy or Insolvency

 All rights and licenses granted to Biomira and its Affiliates under this article 3 are, and shall be deemed to be, for
purposes of applicable bankruptcy law (including section 365(n) of the United States Bankruptcy Code), licenses of rights to “intellectual property” (including as such term is defined under section 101(35A) of the United States
Bankruptcy Code). 
 Section 3.5 Cancer Vac Rights 

Notwithstanding any provision to the contrary in this Agreement, Cancer Vac and its Affiliates shall have the right to carry out research
and development in the Field for purposes of developing Improvements. 
 Section 3.6 Up-front Payment 

In partial consideration for the grant of the license referred to in section 3.1.1 of this Agreement and in addition to the milestone
payments provided for in section 3.7 of this Agreement and the royalty payments provided for in section 3.8 of this Agreement, Biomira shall pay to Cancer Vac within [ * ] of the occurrence of the applicable event specified below an up-front fee of:

  

	 	3.6.1	 $[ * ], if Biomira elects under section 3.1.3 of this Agreement to receive from Cancer Vac [ * ]; 

 

	 	3.6.2	 $[ * ], if Biomira elects under section 3.1.3 of this Agreement to receive from Cancer Vac [ * ]; or 

 

	 	3.6.3	 there shall be no up-front fee, if Biomira does not request any license rights from Cancer Vac with respect to Product under section 3.1.3 of this
Agreement. 

 Section 3.7 Milestone Payments 

 

	 	3.7.1	 Subject to section 3.7.2 of this Agreement, in partial consideration for the grant of the license referred to in section 3.1.1 of this Agreement and
in addition to the up-front payment provided for in section 3.6 of this Agreement and the royalty payments provided for in section 3.8 of this Agreement, Biomira shall pay to Cancer Vac the following milestone payments within [ * ] of the occurrence
of the applicable event specified below: 

  

	 	3.7.1.1	 $[ * ] upon [ * ]; 

  
 16.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	3.7.1.2	 $[ * ] upon [ * ]; 

  

	 	3.7.1.3	 $[ * ] upon [ * ]; 

  

	 	3.7.1.4	 $[ * ] upon [ * ]; 

  

	 	3.7.1.5	 $[ * ] upon [ * ]; and 

  

	 	3.7.1.6	 $[ * ] upon [ * ]. 

  

	 	3.7.2	 If, in relation to the [ * ], [ * ] are [ * ] under section [ * ] of this Agreement [ * ] for the [ * ] or [ * ], there shall be [ * ] under section
[ * ] of this Agreement. 

 Section 3.8 Royalty Payments 

Subject to section 3.8.3 of this Agreement, in partial consideration for the grant of the license referred to in section 3.1.1 of this
Agreement and in addition to the up-front payment provided for in section 3.6 of this Agreement and the milestone payments provided for in section 3.7.1 of this Agreement, Biomira shall pay to Cancer Vac quarterly during the Term, within [ * ] after
the end of each calendar quarter, a royalty based on Biomira Net Sales of Product at a rate of: 
  

	 	3.8.1	 at any time when [ * ] under section [ * ] of this Agreement [ * ] in relation to the [ * ]: 

 

	 	3.8.1.1	 [ * ] percent ([ * ]%) for Biomira Net Sales of Product in the [ * ]; and 

 

	 	3.8.1.2	 [ * ] percent ([ * ]%) for Biomira Net Sales of Product in the [ * ]; 

 

	 	    	 provided that [ * ] shall be [ * ] and [ * ], respectively, for any Product Sold in a particular country which at the time of such Sale [ * ] in
such country; 

  

	 	3.8.2	 at any time when [ * ] under section [ * ] of this Agreement [ * ] in relation to the [ * ] the [ * ], [ * ] percent ([ * ]%) for Biomira Net Sales
in the [ * ], provided that [ * ] shall be [ * ] for any Product Sold in a particular country which at the time of such Sale [ * ] in such country; 

  

	 	3.8.3	 at any time when [ * ] under section [ * ] of this Agreement [ * ] in relation to the [ * ], [ * ] shall be [ * ] under this section 3.8; and

  

	 	3.8.4	 if, during its term, the license provided by Ilexus Pty Ltd to Cancer Vac under the license agreement described in section 1.1.3.1 of this Agreement
[ * ], Biomira and Cancer Vac shall review in a spirit of reasonableness and cooperation the [ * ]. 

Section 3.9 Sales Report 
 Within [ * ] after the end of each calendar quarter during the Term, Biomira shall provide Cancer Vac with a detailed report consistent with GAAP and the accounting records and principles of Biomira
showing in reasonable detail on a Product-by-Product basis: 

  
 17.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	3.9.1	 the number of units of such Product sold during such calendar quarter; 

 

	 	3.9.2	 to the extent practicable, the total billings for such Product during such calendar quarter; 

 

	 	3.9.3	 to the extent practicable, the deductions applicable to the determination of Biomira Net Sales with respect to such Product during such calendar
quarter; 

  

	 	3.9.4	 the Biomira Net Sales with respect to such Product during such calendar quarter; 

 

	 	3.9.5	 the average sales price of such Product during such calendar quarter; and 

 

	 	3.9.6	 the total royalties due and the basis of the calculation thereof. 

 Section 3.10 Records and Audits 
 Biomira will keep and
maintain proper and complete records and books of account in such form and detail as is necessary for the determination of the amounts payable by Biomira (on behalf of itself and its Affiliates and permitted licensees and distributors) to Cancer Vac
under this Agreement and Biomira shall during normal business hours upon [ * ] prior notice from Cancer Vac make those records available for audit by an internationally recognized accounting firm designated by Cancer Vac (except one to which Biomira
shall have objection, acting reasonably) for the sole purpose of, and Biomira will only be required to disclose information related to, verifying such payments, revenues, Biomira Net Sales, costs, expenses and deductions and the correctness of
calculations and classifications in respect thereof. Biomira shall preserve such records made in any calendar year for a period of [ * ] following the close of that calendar year. In the event that such audit discloses that the actual royalties or
other amounts payable by Biomira to Cancer Vac are greater than the royalties or other amounts paid by Biomira, then Biomira shall pay to Cancer Vac any additional royalties and other amounts based on the results disclosed by such audit plus
interest as provided for in section 3.13 of this Agreement. In the event that such audit discloses that the actual royalties or other amounts payable by Biomira to Cancer Vac pursuant to this article 3 are less than the royalties or other amounts
paid by Biomira, then Cancer Vac shall reimburse Biomira for any such overpayment based on the results disclosed by such audit less Cancer Vac’s reasonable costs of such audit. The cost of such audit shall be borne by Cancer Vac unless such
audit discloses that the actual royalties and other amounts payable by Biomira to Cancer Vac are greater by [ * ] or more than the royalties and other amounts paid by Biomira, or such audit discloses that the actual royalties and other amounts
payable by Biomira to Cancer Vac are less than the royalties and other amounts paid by Biomira, in which case Biomira shall be responsible for payment of all reasonable costs of such audit to a maximum of the amount of any overpayment by Biomira to
Cancer Vac due to an incorrect calculation of royalties and other amounts payable by Biomira and Cancer Vac shall be responsible for payment of all other costs of such audit. Notwithstanding the foregoing, Cancer Vac shall not have the right to
conduct more than once, for the same purpose, an audit of the same information, books and records; provided, however that if any such audit discloses that the actual royalties or other amounts payable by Biomira to Cancer Vac hereunder was
calculated incorrectly such that a payment by Biomira or a reimbursement by Cancer Vac is required pursuant to this section 3.10, then Cancer Vac shall have a further right to audit the same 

  
 18.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
information, books and records for the same purpose until such time as no further errors are found. 
 Section 3.11 Currency and Conversion 
 All payments made
under this Agreement shall be in United States dollars. With respect to any payment based on Biomira Net Sales made in a currency other than U.S. dollars, Biomira shall convert such Biomira Net Sales to U.S. dollars using the applicable average rate
of exchange for U.S. dollars for the prior quarter quoted as local currency per US $1, published in The Financial Times (London edition). 

Section 3.12 Bank Accounts 
 All payments hereunder shall be made by wire transfer of immediately available funds to such bank account as may be designated in writing from time to time by Cancer Vac. 

Section 3.13 Late Payments 
 Any late payments of any nature made under this Agreement shall bear interest, running from the date such payment was due until such payment is made, at a rate per annum equal to the average thirty
(30) day U.S. dollar LIBOR rate (as published from time to time by Reuters) [ * ]. 
 Section 3.14 Commercialization and
Marketing Diligence 
  

	 	3.14.1	 Biomira agrees to use all reasonable commercial efforts to commercialize the Cancer Vac Technology in the Biomira Territory and bring Products to
the marketplace in the Biomira Territory in a timely manner and to keep such Products competitive with other similar products in the Biomira Territory. 

 

	 	3.14.2	 Biomira shall keep Cancer Vac fully advised (on [ * ] basis or more frequently if circumstances warrant) as to its progress in the development and
commercialization of the Cancer Vac Technology and of any Products, and shall provide such additional information to Cancer Vac as Cancer Vac may from time to time reasonably request in connection with the foregoing. 

 

	 	3.14.3	 If Cancer Vac reasonably believes that Biomira is not meeting its diligence obligations under section 3.14.1 of this Agreement, then Cancer Vac may
provide Biomira with written notice of such deficiency. If, within [ * ] following receipt by Biomira of such notice, Cancer Vac has not been provided with either evidence satisfactory to Cancer Vac, acting reasonably, that the specified deficiency
has been rectified or a detailed plan of action satisfactory to Cancer Vac, acting reasonably, for Biomira to fully meet its obligations under section 3.14.1 of this Agreement, then Cancer Vac may, at its option, terminate the sublicense granted to
Biomira under this article 3 by providing at least [ * ] further written notice to Biomira of such termination. If Cancer Vac seeks to terminate the sublicense granted by Biomira pursuant to this section 3.14 as aforesaid and Biomira disputes the
basis for such termination, then the issue shall be resolved in accordance with section 11.4 of this Agreement. 

 ARTICLE 4 
 DEVELOPMENT, MANUFACTURING AND MARKETING OVERSIGHT

  
 19.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 4.1 Steering Committee 

 

	 	4.1.1	 Formation. Within [ * ] after the Effective Date, the parties shall form a steering committee (the “Steering Committee”) for the
purpose of overseeing and managing the development, (including Clinical Development), manufacturing, marketing and Sale of Product(s) throughout the world, all as hereinafter specified in this article 4. 

 

	 	4.1.2	 Membership. The Steering Committee shall be composed of two (2) representatives of Biomira and its Affiliates and two
(2) representatives of Cancer Vac and its Affiliates, unless otherwise agreed to in writing by Biomira and Cancer Vac (but the number of representatives of Biomira and its Affiliates and the number of representatives of Cancer Vac and its
Affiliates shall always be equal). The initial chair of the Steering Committee shall be a representative of Cancer Vac, and thereafter the chair of the Steering Committee shall alternate on the anniversary of the Effective Date between a
representative of Biomira and a representative of Cancer Vac (i.e., the second chair shall be a representative of Biomira, the third a representative of Cancer Vac, and so on). Each party shall notify the other party in writing of its
representatives to the Steering Committee and of any changes in its representatives to the Steering Committee. 

  

	 	4.1.3	 Voting Powers. Each representative on the Steering Committee shall be entitled to exercise one (1) vote with respect to matters coming
before the Steering Committee. Any action authorized by the Steering Committee must be authorized by the affirmative vote of a majority of the members of the Steering Committee and shall be recorded in the meeting minutes following such
authorization. 

  

	 	4.1.4	 Meetings. The Steering Committee shall meet not less than [ * ] during the period of Clinical Development of any Product and during the
period of Sale of any Product, on such dates and at such times and places as are agreed to by the members of the Steering Committee, acting reasonably. Responsibility for arranging such meetings, including, at a minimum, providing notice and an
agenda and providing minutes of the meeting, shall alternate between the parties. The first meeting will take place as soon as practicable after the Effective Date, but in no event later than [ * ] after the Effective Date, and will be organized by
Biomira. Meetings may be conducted in person or by telephone or video conference, and the Steering Committee may act without a meeting if, prior to such action, a written consent thereto is signed by each member of the Steering Committee. Except for
section 4.1.3, the Steering Committee may amend or expand upon the foregoing procedures for its internal operation by written agreement of Biomira and Cancer Vac. 

 

	 	4.1.5	 Disagreements. Unless expressly provided to the contrary in this article 4 or otherwise agreed to in writing by Cancer Vac and Biomira, all
disagreements within the Steering Committee with respect to a material issue within the purview of the Steering Committee’s authority shall be resolved in accordance with section 11.4 of this Agreement. 

  
 20.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	4.1.6	 Expenses. Each party shall be responsible for the costs and expenses (including travel, lodging and other such costs and expenses) associated
with the participation of its representatives on the Steering Committee. 

  

	 	4.1.7	 Minutes. The party responsible for arranging a meeting of the Steering Committee as provided for in section 4.1.4 of this Agreement shall
promptly prepare and deliver to the other party within [ * ] after the date of each meeting, minutes of such meeting setting forth all decisions of the Steering Committee in form and content reasonably acceptable to both parties. Such minutes shall
become official only upon written approval by the Steering Committee. 

 Section 4.2 Functions and
Authority 
  

	 	4.2.1	 Development Plans. The Steering Committee shall oversee the development (including Clinical Development) of each Product designated by the
Steering Committee to be commercialized. The Steering Committee shall review and approve written Development Plans and shall approve conduct and review progress under any such Development Plan(s) including budgets therefor, material supply
procedures and capacities, and other matters necessary to development (including Clinical Development) of each Product. Such approved plans and budgets shall be memorialized as an approved plan or budget in the Steering Committee meeting minutes. In
the event that the Steering Committee fails to reach agreement with respect to that portion of any Development Plan which relates solely to country specific requirements in the Cancer Vac Territory, Cancer Vac will consider seriously and in good
faith any comments that Biomira representatives to the Steering Committee may have with respect to such portion (i.e., country specific requirements in the Cancer Vac Territory) of such Development Plan, provided, however, that the final
decision with respect to any such portion shall be made by Cancer Vac. In the event that the Steering Committee fails to reach agreement with respect to that portion of any Development Plan which relates solely to country specific requirements in
the Biomira Territory, Biomira will consider seriously and in good faith any comments that Cancer Vac representatives to the Steering Committee may have with respect to such portion (i.e., country specific requirements in the Biomira Territory) of
such Development Plan, provided, however, that the final decision with respect to any such portion shall be made by Biomira. 

  

	 	4.2.2	 Manufacturing. The parties acknowledge that the Steering Committee will be responsible for determining the person(s) responsible for the
manufacture and supply (clinical and commercial) of all Products, all upon such terms and conditions as are established from time to time by the Steering Committee. The person(s) responsible for manufacturing shall present to the Steering Committee
[ * ] for its review and consultation a Commercial Manufacturing Plan. 

  

	 	4.2.3	 Marketing. The parties acknowledge that, with respect to the Cancer Vac Territory, Cancer Vac will be responsible for the Sales and marketing
of Products. Notwithstanding the foregoing, Cancer Vac shall present to the Steering 

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
Committee [ * ] for its review and consultation, beginning a reasonable period of time prior to Launch of a particular Product in the Cancer Vac Territory, a Marketing Plan, and will not make any
material revisions to a previously reviewed Marketing Plan without prior consultation with the Steering Committee. Cancer Vac will consider seriously and in good faith any comments that Biomira representatives to the Steering Committee may have with
respect to any such Marketing Plan or material revision thereto, provided, however, that the final decision on any such matter shall be made by Cancer Vac. Similarly, the parties acknowledge that, with respect to the Biomira Territory,
Biomira will be responsible for the Sales and marketing of Products. Notwithstanding the foregoing, Biomira shall present to the Steering Committee [ * ] for its review and consultation, beginning a reasonable period of time prior to Launch of a
particular Product in the Biomira Territory, a Marketing Plan, and will not make any material revisions to a previously reviewed Marketing Plan without prior consultation with the Steering Committee. Biomira will consider seriously and in good faith
any comments that Cancer Vac representatives to the Steering Committee may have with respect to any such Marketing Plan or material revision thereto, provided, however, that the final decision on any such matter shall be made by Biomira.

  

	 	4.2.4	 Plan Amendments. Subject to the limitations set forth in the last two sentences of section 4.2.1, the Steering Committee has the authority to
amend the Development Plans approved previously on the basis of new information, if necessary, according to its best judgment. To be authorized, any amendment to previously approved Development Plans and budgets shall be memorialized as an approved
amended plan or budget in the Steering Committee meeting minutes. 

  

	 	4.2.5	 Effect of Approved Minutes: Except to the extent otherwise specifically provided in this Agreement, each party agrees to be bound by each
approved and approved-amended Development Plan or budget therefor as of the date of the Steering Committee’s approval thereof. 

  

	 	4.2.6	 Project Team: The Steering Committee will approve the members of a Project Team comprising an equal number of individuals from Biomira and
its Affiliates and from Cancer Vac and its Affiliates. The Project Team will develop, implement and manage all Development Plans approved by the Steering Committee. The Project Team will provide the Steering Committee with such expertise and
recommendations for development (including Clinical Development), manufacturing, marketing, supply and Sale of Product, as requested by the Steering Committee. In the event the Project Team cannot agree to a unified recommendation to bring to the
Steering Committee, it may bring the issue to the Steering Committee for resolution. The Project Team may be further divided into additional subteams, in each case (unless otherwise authorized in writing by the Steering Committee) comprising an
equal number of individuals (with the required expertise) from Biomira and its Affiliates and from Cancer Vac and its Affiliates. 

  
 22.

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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	4.2.7	 Other functions: As to those Steering Committee procedures to which this Agreement does not speak, the Steering Committee may freely choose
what procedure to follow as long as it does not conflict with any term of this Agreement. 

  

	 	4.2.8	 Disbanding: The Steering Committee shall remain in full force and effect for as long as any Product is or may be in Clinical Development
under this Agreement or is being Sold anywhere in the world pursuant to this Agreement, provided that the Steering Committee will be disbanded in circumstances where either the Biomira Territory is the Territory (and not just the North American
Territory) or the Cancer Vac Territory is the entire world and Biomira has no residual rights under article 3 of this Agreement. Notwithstanding that the Steering Committee may be disbanded in the circumstances specified in this section 4.2.8, the
parties shall nevertheless communicate and cooperate with each other so as to facilitate the development and commercialization of the technology which is the subject of this Agreement. 

Section 4.3 Development Tasks 
  

	 	4.3.1	 With respect to the Biomira Territory, Biomira (or its designated Affiliate) will be responsible for conducting, or having conducted, those
development (including Clinical Development) and Market Approval (including the preparation, submission and prosecution of all regulatory authority filings and applications required to obtain all necessary Market Approvals to sell Product in each
country in the Biomira Territory) tasks identified as its obligation under the applicable Steering Committee-approved Development Plan. Biomira shall use all commercially reasonable efforts to perform the development (including Clinical Development)
and Market Approval tasks assigned to it in a prudent and skilful manner in accordance, in all material respects, with the Development Plans then in effect and applicable laws and regulations. 

 

	 	4.3.2	 With respect to the Cancer Vac Territory, Cancer Vac (or its designated Affiliate) will be responsible for conducting, or having conducted, those
development (including Clinical Development) and Market Approval (including the preparation, submission and prosecution of all regulatory authority filings and applications required to obtain all necessary Market Approvals to sell Product in each
country in the Cancer Vac Territory) tasks identified as its obligation under the applicable Steering Committee-approved Development Plan. Cancer Vac shall use all commercially reasonable efforts to perform the development (including Clinical
Development) and Market Approval tasks assigned to it in a prudent and skilful manner in accordance, in all material respects, with the Development Plans then in effect and applicable laws and regulations. 

 

	 	4.3.3	 Unless otherwise determined by the Steering Committee or agreed in writing by Biomira and Cancer Vac, all Development Costs shall be deemed to be
Shared Costs for purposes of this Agreement. 

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	4.3.4	 Unless otherwise specifically required by a regulatory authority of competent jurisdiction, Biomira or its designated Affiliate shall be the record
owner of all Market Approvals required for Sale of the Product(s) in the Biomira Territory. Unless otherwise specifically required by a regulatory authority of competent jurisdiction, Cancer Vac or its designated Affiliate shall be the record owner
of all Market Approvals required for Sale of the Product(s) in the Cancer Vac Territory. In the event that the area of the Biomira Territory or the Cancer Vac Territory, as the case may be, changes in accordance with this Agreement and as a result
it is necessary or desirable to change the record owner of the Market Approvals required for Sale of the Product(s) in the countries which are affected by such change, the then current record owner of the Market Approvals in question shall in a
timely manner transfer such Market Approvals to the other party and/or permit the other party to utilize such Market Approvals, file duplicate Market Approvals, cross-reference such Market Approvals, and the like. 

Section 4.4 Product Price 
 Except as otherwise provided by law, [ * ] and [ * ] under this Agreement in relation to the [ * ] shall determine the Sales price for Product(s) Sold in the [ * ], provided that [ * ] shall ensure that
the Sales price for Product(s) Sold in [ * ] the Sales price for Product(s) Sold outside of [ * ]. 
 Section 4.5 Advertising
and Promotion 
 Biomira (or its designated Affiliate) shall be responsible for advertising and promotion of Product(s)
in the Biomira Territory and Cancer Vac shall be responsible for advertising and promotion of Product(s) in the Cancer Vac Territory. Biomira and Cancer Vac shall on a regular basis consult, coordinate and cooperate in the advertising and promotion
of Product(s) including, without limitation, the sharing of advertising and promotion materials. 
 Section 4.6
Distribution 
 Biomira shall have the sole responsibility for distribution of Product(s) in the Biomira Territory.
Cancer Vac shall have the sole responsibility for distribution of Product(s) in the Cancer Vac Territory. 
 Section 4.7
Customer Complaints and Medical Inquiries 
 [ * ] and [ * ] under this Agreement in relation to the [ * ] shall be
responsible for handling all customer complaints and inquiries regarding the Product(s) [ * ]. All complaints and inquiries received by the other parties or their agents shall be promptly referred to [ * ] to the [ * ] for response according to
applicable law. [ * ] to the [ * ] shall use commercially reasonable efforts to handle such matters in a timely manner, in compliance with applicable laws, regulations, rules, policies and regulatory requirements and in accord with [ * ] standard
operating procedures. [ * ] shall keep the other informed in a timely manner with respect to such [ * ] activities in regard to customer complaints and inquiries for Products. All costs incurred in responding to customer complaints and inquiries
shall be deemed to be Shared Costs for purposes of this Agreement. 
 Section 4.8 Adverse Event Reporting 

[ * ] and [ * ] under this Agreement in relation to the [ * ] shall be responsible for reporting all adverse events regarding Product(s) [
* ]. All information received by the other party or their 

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
agents shall be promptly transferred according to applicable law to [ * ] to the [ * ] for handling. [ * ] to the [ * ] shall handle such matter in a timely manner, in compliance with applicable
laws and regulations, and in accord with [ * ] standard operating procedures. [ * ] shall keep the other informed in a timely manner with respect to such [ * ] activities with respect to adverse event reporting for Products. All costs incurred in
responding to and reporting adverse events regarding Product(s) shall be deemed to be Shared Costs for purposes of this Agreement. 

Section 4.9 Product Recall 
 [ * ] and [ * ] under this Agreement in relation to the [ * ] shall be responsible for initiating and implementing all Product recalls required by controlling regulatory agencies [ * ] and for all
voluntary Product market withdrawals. [ * ] to the [ * ] shall handle such matters in a timely manner, in compliance with applicable laws and regulations, and in accord with [ * ] standard operating procedures. [ * ] shall keep the other informed in
a timely manner with respect to such [ * ] activities in regard to recalls and market withdrawals. [ * ] shall use commercially reasonable efforts to cooperate with such [ * ] with respect to the implementation of any such recall or market
withdrawal. All costs incurred in responding to recalls and market withdrawals shall be deemed to be Shared Costs for purposes of this Agreement. 
 Section 4.10 Trademarks, Branding and Labelling 
 Except
in circumstances where one party has marketing and other rights under this Agreement to the entire Territory (in which case such party shall be solely responsible for determining the strategy and policies to be followed in relation to branding,
labelling and trademarking of Product in the Territory), the Steering Committee shall be responsible for determining the strategy and policies to be followed in relation to the branding and labelling of Product(s) in compliance with applicable law
and the development, prosecution, licensing, maintenance and defense of trademarks for Product(s) and for determining the allocation of costs and expenses with respect thereto. 
 Section 4.11 Shared Costs 
  

	 	4.11.1	 Unless otherwise determined by the Steering Committee or agreed in writing by Biomira and Cancer Vac, all Shared Costs shall be borne by Biomira and
Cancer Vac on the following basis: 

  

	 	4.11.1.1	 so long as the Cancer Vac Territory is the entire world, one hundred percent (100%) by Cancer Vac; 

 

	 	4.11.1.2	 so long as the Biomira Territory is [ * ], [ * ] percent ([ * ]%) by Biomira and two percent ([ * ]%) by Cancer Vac; or

  

	 	4.11.1.3	 so long as the Biomira Territory is [ * ], [ * ] percent ([ * ]%) by Biomira and [ * ] percent ([ * ]%) by Cancer Vac. 

 

	 	4.11.2	 From and after the Effective Date and for so long as there are Shared Costs, each of Biomira and Cancer Vac shall, within [ * ] of the close of
every [ * ], provide the other with a detailed report (a “Cost Report”, the form of which shall be agreed upon by Biomira and Cancer Vac within [ * ] of the Effective Date) of its Shared Costs actually incurred during such [ * ] period,
together with reasonable 

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
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THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
supporting documentation. If the Cost Reports of the two parties indicate that one party has incurred more of the Shared Costs during such [ * ] period than is its proper share pursuant to
section 4.11.1, the other party shall pay the party who incurred such excess costs the amount of such excess costs within [ * ] of receiving the Cost Report of the other party. 

ARTICLE 5 

CONFIDENTIALITY 

Section 5.1 Confidentiality 
 The parties to this Agreement recognize that from time to time one party may disclose to another party(ies) information which is of a confidential nature (“Confidential Information”) and it is
therefore agreed that: 
  

	 	5.1.1	 Except as otherwise expressly authorized in writing by the discloser or specifically provided for in this Agreement, all Confidential Information of
the disclosing party shall be held in strict confidence by the receiving party and the receiving party shall employ or cause to be employed diligent efforts and reasonable care in order to ensure that such Confidential Information is not made
available to any third party, excepting only as required under this Agreement or to the directors, officers, employees, agents and consultants of the receiving party whose duties require disclosure of the same or as expressly authorized in writing
and then (in any such case) only if the parties to whom such Confidential Information is being disclosed have given to the disclosing party an enforceable undertaking (in a form of contract used by the disclosing party in its normal course of
business and that that deals with equivalently sensitive information) not to disclose such Confidential Information to any other party. 

  

	 	5.1.2	 Subject to section 5.1.3, Confidential Information shall not include information that is in the public domain at the time of disclosure, that the
recipient can demonstrate based on written records was lawfully already in its possession, that is approved in writing for release by the discloser or that is obtained by any party to this Agreement from a third party without obligation of
confidence (provided, however, that no third party from which the information is obtained has any obligation of confidence to any parties to this Agreement) or that becomes public knowledge otherwise than through the fault of the recipient or any
Person to whom it has disclosed the Confidential Information. 

  

	 	5.1.3	 Disclosure of Confidential Information shall not be precluded if such disclosure is in response to a valid order of a court or other governmental
body or of any political subdivision thereof or is otherwise required to be disclosed by law. Notwithstanding the foregoing, in the event that a party is required to make a disclosure of the other party’s Confidential Information pursuant to
this section 5.1.3, it will, except where impractical, give reasonable advance written notice to the other party of such disclosure and use reasonable commercial efforts to secure confidential treatment of such information.

  
 26.

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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	5.1.4	 Confidential Information that is specific shall not be deemed to be within the public domain merely because it is embraced by general knowledge in
the public domain. Further, any Confidential Information dealing with any combination of features of a specific matter shall not be deemed to be within the public domain, unless the combination of features and the principle of operation are in the
public domain. 

  

	 	5.1.5	 Each party to this Agreement shall, upon the termination of this Agreement, return all corporeal Confidential Information to the owner of such
Confidential Information with a written undertaking that no copies (electronic or otherwise) have been retained, except that the receiving party may retain one (1) copy in its legal files solely to allow it to monitor its obligations hereunder.

  

	 	5.1.6	 Each of the parties to this Agreement acknowledge that the other party to this Agreement would suffer irreparable harm as a result of the breach of
any of the non-disclosure and confidentiality obligations set forth in this section 5.1 and that legal remedies are inadequate; therefore, each of the parties to this Agreement agrees that, in addition to any damages and other remedies that the
other party to this Agreement may be entitled to as a result of such a breach, the other party to this Agreement shall be entitled to seek an order from a court of competent jurisdiction restraining such party from breaching or continuing to breach
any of the provisions of this section 5.1. 

  

	 	5.1.7	 The covenants of the parties under this section 5.1 shall continue in full force and effect notwithstanding the termination of this Agreement by
effluxion of time or otherwise. 

 Section 5.2 No Disclosure 

Except as required by law or any applicable regulatory authority or as otherwise provided herein, the parties agree that the existence of
this Agreement and the contents of this Agreement shall not be disclosed to any third party without the prior written consent of the other parties. Notwithstanding the foregoing, in the event that a party is required to make a disclosure of the
other party’s Confidential Information pursuant to this section 5.2, it will, except where impractical, give reasonable advance written notice to the other party of such disclosure and use reasonable commercial efforts to secure confidential
treatment of such information. 
 Section 5.3 Press Releases 

Except as required by law or any applicable regulatory authority, any press releases or public statements relating to this Agreement or
the subject matter hereof shall prior to being released or made final be provided to the other party for comment in a timely manner. 
 ARTICLE 6 
 INVENTIONS AND PATENTS 

Section 6.1 Joint Improvements 
 All inventions, discoveries, improvements or other technology to the extent specifically applicable in the Field and all processes or uses relating thereto, which are capable of protection

  
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THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
as proprietary intellectual property (including for greater certainty trade secrets), that arise after the Effective Date as a result of conduct under this Agreement shall be regarded as
improvements (“Improvements”) and Improvements made jointly by employees or others acting on behalf of Biomira and Cancer Vac (the “Joint Improvements”) shall be jointly owned by Biomira and Cancer Vac, each to an undivided
one-half interest, and shall be managed in accordance with section 6.5. 
 Section 6.2 Cancer Vac Improvements

 Improvements made solely by employees of Cancer Vac in the course of their employment or others acting on behalf of Cancer
Vac who have assigned their rights with respect thereto to Cancer Vac (the “Cancer Vac Improvements”) shall be owned solely by Cancer Vac and, to the extent applicable, shall be subject to the license granted to Biomira in article 3.
Cancer Vac shall have the first right to tile, prosecute, and maintain patent protection for Cancer Vac Improvements. If Cancer Vac at any time during the Term fails to file, prosecute or maintain patent protection in any jurisdiction for a Cancer
Vac Improvement that has specific application within the Field in circumstances where Biomira intends to develop, market and sell a Product utilizing such Cancer Vac Improvement and has so advised Cancer Vac in writing, Biomira shall, upon [ * ]
prior written notice to Cancer Vac, have the right (if Cancer Vac does not agree to file, prosecute or maintain such patent protection in such jurisdiction during such [ * ] period), on behalf of Cancer Vac, to file, prosecute, and maintain patent
protection for that Cancer Vac Improvement in that jurisdiction and Cancer Vac shall cooperate with Biomira with respect thereto, including the execution and delivery of any further instruments or documents and taking all such further actions and
providing all such further information as Biomira may reasonably request in that regard. Biomira shall be entitled to deduct its costs and expenses in such regard from any payments which Biomira is required to make to Cancer Vac under this
Agreement. 
 Section 6.3 Determination of Inventorship 

Inventorship shall be determined in accordance with the Canadian patent law rules and inventorship shall determine whether or not an
Improvement is made solely by employees or others acting on behalf of Biomira or on behalf of Cancer Vac. 
 Section 6.4
Invention Disclosure 
 Biomira shall promptly disclose to Cancer Vac and Cancer Vac shall promptly disclose to
Biomira details of any Joint Improvements or Cancer Vac Improvements, as the case may be, which such party has developed and such details shall be treated as Confidential Information. 
 Section 6.5 Independent Use of Joint Improvements 

Within the Field, the use of Joint Improvements shall only be for purposes of and pursuant to the terms and conditions of this Agreement.
Outside of the Field, Biomira and Cancer Vac shall each be entitled to use Joint Improvements as such party determines, provided that prior to any such party licensing any such Joint Improvement to a third party such party shall consult with the
other with the aim of jointly licensing such Joint Improvement to such third party. In the absence of a joint license, neither Biomira nor Cancer Vac may license a Joint Improvement to a third party without the prior written consent of the other.

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 6.6 Prosecution and Maintenance of Joint Patents 

 

	 	6.6.1	 Filing, Prosecution and Maintenance. Biomira and Cancer Vac shall determine, with respect to each Joint Improvement, the procedure and
responsibility for filing, prosecuting and maintaining patent applications with respect to such Joint Improvements. Unless otherwise agreed in writing, all reasonable costs incurred with respect to the filing, prosecution and maintenance of patent
applications and patents covering Joint Improvements, including fees and expenses of patent counsel, shall be borne equally by the parties. Notwithstanding that one party may be delegated responsibility for filing, prosecuting and maintaining patent
applications with respect to a particular Joint Improvement, the other party must approve in writing the taking of any material action with respect thereto including without limitation approving any patent application prior to filing. Both Biomira
and Cancer Vac shall have the right to participate fully in the formation and implementation of patent strategy. 

  

	 	6.6.2	 Cooperation. Each party shall reasonably make available to the other party or its authorized attorneys, agents or representatives, its
employees, agents or consultants necessary or appropriate to enable the appropriate party to file, prosecute and maintain patent applications and resulting patents with respect to all Joint Improvements, for a period of time sufficient for such
party to obtain the assistance it needs from such personnel. All reasonable costs incurred by either party in providing such cooperation shall be shared equally by the parties. 

 

	 	6.6.3	 Failure to Agree. In the case of a failure of Biomira and Cancer Vac to agree upon whether or in which countries patent applications should
be filed and prosecuted for Joint Improvements, the party which desires to proceed may file and prosecute the patent applications at its own expense, and shall maintain such patents at its own expense, provided that if such Joint Improvement has
specific application within the Field in circumstances where Biomira intends to develop, market and sell a Product utilizing such Joint Improvement and has so advised Cancer Vac in writing, Biomira shall be entitled to deduct all costs and expenses
which Biomira incurs in connection with the prosecution, maintenance, and defence of such patent applications from the milestone and royalty payments payable by Biomira to Cancer Vac under article 3 of this Agreement. If either Biomira or Cancer Vac
wishes to discontinue its portion of payment for maintenance of any patent on the Joint Improvements, such party may do so with prior written notice to the other party, and the other party may maintain such patent on the Joint Improvements at its
own expense. Notwithstanding the foregoing, either party may reacquire its rights in any patents or patent applications in any country relating to the Joint Improvements by paying its portion of any costs incurred by the other party to such other
party. 

 Section 6.7 No Waiver 

For the avoidance of doubt, by entering into this Agreement, and subject to the licenses granted in this Agreement, no party waives or
forfeits any of its rights to any intellectual property that it owns and that exists at or after the Effective Date. 

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 6.8 Cooperation with respect to Patents 

The parties acknowledge and agree that it is in their mutual interest to cooperate with respect to the filing, prosecution and maintenance
of the Cancer Vac Patent Rights in the Field. Therefore, with respect to the Cancer Vac Patent Rights in the Field, Cancer Vac agrees to keep Biomira informed on a regular basis of its patent strategy, proposed new patent applications and the filing
and status of any patent application or patent and to consider in good faith any comments or suggestions of Biomira with respect thereto. Cancer Vac agrees not to consent to any amendment to the ARI License Agreement which may in any way adversely
effect Biomira’s rights under this Agreement and further agrees to fully comply with its obligations and enforce its rights under the ARI License Agreement so as to avoid any adverse effect on Biomira’s rights under this Agreement. Biomira
agrees not to consent to any amendment to the CRTL License Agreement which may in any way adversely effect Cancer Vac’s rights under this Agreement and further agrees to fully comply with its obligations and enforce its rights under the CRTL
License Agreement so as to avoid any adverse effect on Cancer Vac’s rights under this Agreement. 
 ARTICLE 7 

 PATENT INFRINGEMENT 
 Section 7.1 Infringement by Third Parties 
  

	 	7.1.1	 If any party becomes aware of any facts that indicate the likelihood that any intellectual property in any Product or Joint Improvement is being
infringed by any Person, or if any Person wrongfully engages in any activity that is covered by the Cancer Vac Technology and/or the CRTL Technology, that party shall inform Biomira and Cancer Vac in writing of those facts in reasonable detail.

  

	 	7.1.2	 If the perceived infringing activity relates primarily to the Cancer Vac Technology, then Cancer Vac shall have the primary right, but not the
obligation, to initiate, prosecute and control any action or proceeding with respect to such perceived infringement at its own cost, provided that if Cancer Vac fails to initiate proceedings and attend to remedy such infringement within [ * ] of
receiving written notice of such infringement then Biomira may bring and control any such action. If the perceived infringing activity relates primarily to the CRTL Technology, then Biomira shall (subject to the terms of the CRTL License Agreement)
have the primary right but not the obligation, to initiate, prosecute and control any action or proceeding with respect to any such infringement at its own cost, provided that if Biomira fails to initiate proceedings or attend to remedy such
infringement within [ * ] of receiving written notice of such infringement then, subject to the terms of the CRTL License Agreement, Cancer Vac may bring and control any such action. In either case if one party initiates proceedings and attends to
remedy such infringement then it shall keep the other party informed with respect to such proceedings and shall permit the other party to participate in all material discussions concerning such proceedings and the other party shall cooperate and
give reasonable assistance in this regard to the party. 

  

	 	7.1.3	 Subject to the CRTL License Agreement, any monetary award received as a result

  
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of proceedings contemplated by this section 7.1 shall be first used to compensate: 

  

	 	7.1.3.1	 the party who has primary control over the action for its costs relating to the action; and 

 

	 	7.1.3.2	 the other party for its costs relating to the action. 

Any award monies remaining after such reimbursement shall (to the extent such award monies [ * ]) be [ * ] or [ * ], as
the case may be, [ * ] and then [ * ] for [ * ] or [ * ]. Any remaining award monies which [ * ] shall be [ * ]. 
  

	 	7.1.4	 No settlement or consent judgment or other voluntary final disposition of a suit under this section 7.1 may be entered into by either party without
the prior consent of the other party, such consent not to be unreasonably withheld, and provided further that any settlement or consent judgment or voluntary final disposition of a suit under this section 7.1 in relation to the CRTL Technology shall
be subject to the terms of the CRTL License Agreement. 

 Section 7.2 Claims Against Cancer Vac Technology,
CRTL Technology and Joint Technology 
  

	 	7.2.1	 Notice. 

  

	 	7.2.1.1	 If a third party asserts that a patent or other right owned by it is infringed by Biomira’s and/or Cancer Vac’s use in the manner
prescribed in this Agreement of any Cancer Vac Technology, the party first obtaining knowledge of such claim shall immediately provide the other party with written notice of such claim and the related facts as are then known, in reasonable detail.
Cancer Vac shall have the obligation to control the defence and settlement of any such claim in relation to the Cancer Vac Technology. If Cancer Vac fails to assume the control and settlement of any such claim within [ * ] of receiving written
notice thereof, then Biomira may control the defence and settlement of such action. The controlling party shall keep the non-controlling party fully informed with respect to all matters in relation to such claim and shall consult with the
non-controlling party in relation to all material decisions concerning such claim and the defence thereof. The non-controlling party agrees to cooperate and provide reasonable assistance in defending such claims. No settlement shall be entered into
without the prior written consent of the other party, such consent not to be unreasonably withheld. 

  

	 	7.2.1.2	 If a third party asserts that a patent or other right owned by it is infringed by Biomira’s and/or Cancer Vac’s use in the manner
prescribed in this Agreement of any CRTL Technology, the party first obtaining knowledge of such claim shall immediately provide the other party with written notice of such claim and the related facts as are then known, in reasonable detail. Subject
to the terms of the CRTL License 

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
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THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
Agreement, Biomira shall have the obligation to control the defence and settlement of any such claim in relation to the CRTL Technology. Subject to the provisions of the CRTL License Agreement,
if Biomira fails to assume the control and settlement of any such claim within [ * ] of receiving written notice thereof, then Cancer Vac may control the defence and settlement of such action. The controlling party shall keep the non-controlling
party fully informed with respect to all matters in relation to such claim and shall consult with the non-controlling party in relation to all material decisions concerning such claim and the defence thereof. The non-controlling party agrees to
cooperate and provide reasonable assistance in defending such claims. Subject to the provisions of the CRTL License Agreement, no settlement shall be entered into without the prior written consent of the other party, such consent not to be
unreasonably withheld. 

  

	 	7.2.1.3	 If a third party asserts that a patent or other right owned by it is infringed by the use, in the manner prescribed in this Agreement, of any Joint
Improvements, the party first obtaining knowledge of such claim shall immediately provide the other party with written notice of such claim and the related facts as are then known, in reasonable detail. Both parties shall share in the control of the
defense and settlement of any such claim. Each party shall keep the other party fully informed with respect to all matters in relation to such claim and shall consult with the other party in relation to all material discussions concerning such claim
and the defense thereof. The parties agree to cooperate and provide reasonable assistance to the other in defending such claims. No settlement shall be entered into without the prior written consent of Biomira and Cancer Vac, such consent not to be
unreasonably withheld. 

  

	 	7.2.2	 Damages 

  

	 	7.2.2.1	 After complying fully with the procedures set forth in section 7.2.1, any damages or other payments that result from a claim of infringement as
specified in section 7.2.1 or that are required to be paid as a result of reaching a settlement with a third party in the manner prescribed in section 7.2.1 or is the result of a judgment from a competent court (which is unappealable or with respect
to which the appeal period has expired) shall be paid: 

  

	 	7.2.2.1.1	 to the extent that [ * ]; 

  

	 	7.2.2.1.2	 to the extent that [ * ]; or 

  

	 	7.2.2.1.3	 to the extent that [ * ]. 

  
 32.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	    	 Finally, the reasonable costs and expenses of Biomira and Cancer Vac in defending and settling any such action shall be also dealt with accordingly.

 ARTICLE 8  
 INDEMNIFICATION 
 Section 8.1 Indemnification by Biomira

 Biomira shall indemnify and hold Cancer Vac (its affiliates and their respective officers, directors, shareholders, employees,
agents and their successors and permitted assigns) (collectively the “Cancer Vac Indemnitees”) free and harmless from any claims, demands, liabilities, losses, actions or causes of actions, and any and all expenses associated therewith
(including without limiting the generality of the foregoing, reasonable defence costs and legal fees), arising out of or in connection with, or that are the result of, or are otherwise related to: (i) any claim, suit, proceeding or cause of
action against any of the Cancer Vac Indemnitees alleging physical injury (including death) or property damage as a result of the acts or omissions of Biomira or its officers, directors, shareholders, employees or agents, except to the extent
attributable to any one or more of the Cancer Vac Indemnitees; (ii) any failure of Biomira to perform, in whole or in part, any covenants or obligations under this Agreement, except to the extent attributable to any one or more of the Cancer
Vac Indemnitees; (iii) Biomira’s non-compliance with any applicable national, federal, provincial or state laws or regulations, except to the extent attributable to any one or more of the Cancer Vac Indemnitees; (iv) any breach by
Biomira of any of its representations or warranties under this Agreement; or (v) Biomira’s marketing and Sale of Product, except to the extent attributable to any one or more of the Cancer Vac Indemnitees. 

Section 8.2 Indemnification by Cancer Vac 
 Cancer Vac shall indemnify and hold Biomira (its affiliates and their respective officers, directors, shareholders, employees, agents and their successors and permitted assigns) (collectively the
“Biomira Indemnitees”) free and harmless from any claims, demands, liabilities, losses, actions or causes of actions, and any and all expenses associated therewith (including without limiting the generality of the foregoing, reasonable
defence costs and legal fees), arising out of or in connection with, or that are the result of, or are otherwise related to: (i) any claim, suit, proceeding or cause of action against any of the Biomira Indemnitees alleging physical injury
(including death) or property damage as a result of the acts or omissions of Cancer Vac or its officers, directors, shareholders, employees or agents, except to the extent attributable to any one or more of the Biomira Indemnitees; (ii) any
failure of Cancer Vac to perform, in whole or in part, any covenants or obligations under this Agreement except to the extent attributable to any one or more of the Biomira Indemnitees; (iii) Cancer Vac’s non-compliance with any applicable
national, federal, provincial or state laws or regulations, except to the extent attributable to any one or more of the Biomira Indemnitees; (iv) any breach by Cancer Vac of any of its representations or warranties under this Agreement; or
(v) Cancer Vac’s marketing and Sale of Product, except to the extent attributable to any one or more of the Biomira Indemnities. To the extent that Cancer Vac does not fulfill in a timely manner its indemnification obligations under this
section 8.2, Prima Biomed covenants and agrees to fulfill such obligations on behalf of Cancer Vac. 

  
 33.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 8.3 Procedure 

The indemnified party shall give prompt written notice to the indemnifying party(ies) of any suits, claims or demands by third parties
(“Claim”) which may give rise to any loss for which indemnification may be required under this article 8, provided, however that failure to give such notice shall not impair the obligation of the indemnifying party to provide
indemnification hereunder except if and to the extent that such failure materially impairs the ability of the indemnifying party to defend the Claim. The indemnifying party shall be entitled to assume the control, defence and settlement of any Claim
or demand of any third party at its own cost and expense; provided, however, that the other party shall have the right to be represented by its own counsel at its own cost in such matters. In the event that the indemnifying party shall decline to
assume control of any such Claim, the party entitled to indemnification shall be entitled to assume such defence of and settle such Claim, all at the sole cost and expense of the indemnifying party. Neither the indemnifying party nor the indemnified
party shall settle or dispose of any such matter in any manner which would adversely impact the rights and interests of the other party without the prior written consent of the indemnified party, which shall not be unreasonably withheld. Each party
shall cooperate with the other party and its counsel in the course of the defence of any such Claim, such cooperation to include using reasonable efforts to provide or make available documents, information and witnesses. 

ARTICLE 9  
 TERM AND TERMINATION 
 Section 9.1 Term and Expiration

 This Agreement shall be effective as of the Effective Date and, unless terminated earlier pursuant to this article 9, this
Agreement shall remain in force and effect on a Product-by-Product and country-by-country basis until the later of (a) the expiration or termination of the last to expire or terminate of Valid Claims that cover such Product in such country,
(b) the expiration or termination of the last to expire or terminate of the exclusivity periods that cover such Product in such country, [ * ] or such later date as Biomira and Cancer Vac may agree upon in writing. 

Section 9.2 Early Termination 
 Upon the happening of any of the following events with respect to a party: 
  

	 	9.2.1	 such party defaults in the due and punctual payment of any amount payable under this Agreement, when and as due, and such default continues for a
period of [ * ] or such longer period as the non-default party may agree to in writing after written notice thereof has been received by such party from the non-defaulting party; 

 

	 	9.2.2	 such party fails to perform or observe any material covenant, condition or provision of, or fails to rectify a material breach of, this Agreement,
and such default continues for a period of [ * ] (or such longer period as the non-defaulting party may agree to in writing) after written notice thereof has been received by such party from the non-defaulting party; 

 

	 	9.2.3	 such party ceases to carry on business, or takes any action to liquidate its assets, stops making payments in the usual course of business, or
voluntarily suspends for more than [ * ] all or substantially all of its business operations, other than 

  
 34.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
suspensions of a temporary nature resulting from Force Majeure; 

  

	 	9.2.4	 such party institutes any proceedings under any statute or otherwise relating to insolvency or bankruptcy, or should any proceedings under any such
statute or otherwise be instituted against such party and not be dismissed or vacated within [ * ] of the date of commencement of such proceedings; 

  

	 	9.2.5	 a custodian, receiver, manager or any other Person with like powers is appointed to take charge of all or any part of such party’s undertaking,
business, property or assets; or 

  

	 	9.2.6	 an order is made or a resolution passed for the winding up or liquidation of such party, 

the non-defaulting party may immediately terminate this Agreement and the rights and licenses granted hereunder by giving a written
notice to that effect to the defaulting party. 
 Section 9.3 Survival of Obligations and Disposition of Inventory

 Such provisions of this Agreement that, by their nature, would be expected to survive termination of this Agreement,
including without limitation sections 2.5, 2.11, 3.4 and 3.10 and articles 5, 6, 7, 8 and 10, shall survive any such termination. Subject to being in compliance with all applicable laws and regulatory requirements, Cancer Vac or Biomira, as the case
may be, may sell any Products which are in its inventory at the time of termination, provided that such party shall pay the royalties thereon (and any other payments) as required under this Agreement and shall submit the reports required by this
Agreement, and provided further that the event giving rise to termination was not a failure to pay. 
 Section 9.4 Continuing
Liability 
 Termination of this Agreement for any reason shall not release any party from any liability, obligation or
agreement which has already accrued nor affect the survival of any provision hereof which is expressly stated to survive such termination. Termination of this Agreement for any reason shall not constitute a waiver or release of, or otherwise be
deemed to prejudice or adversely affect, any rights, remedies or claims, whether for damages or otherwise, which a party may have hereunder or which may arise out of or in connection with such termination. 

Section 9.5 Return of Confidential Information 
 Upon termination of this Agreement, each party shall return to the other all Confidential Information of such other party that remains in its possession, except that each party shall be entitled to retain
one copy of any such information for archival purposes. 
 ARTICLE 10  

REPRESENTATIONS AND WARRANTIES 
 Section 10.1 Corporate Existence and Power 
 Each party
represents and warrants to the other parties that (a) it is a corporation duly organized and validly existing and in good standing, under the laws of the jurisdiction of its incorporation; (b) it has the corporate power and authority and
the legal right to own its property and assets, to 

  
 35.

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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
lease the property and assets it operates under lease, and to carry on its business as it is now being conducted; and (c) it is in compliance with all requirements of applicable law, except
to the extent that any non-compliance would not have a material adverse effect on the properties, business, financial or other condition of such party and would not materially adversely affect such party’s ability to perform its obligations
under this Agreement. 
 Section 10.2 Authorization and Enforcement of Obligations 

Each party represents and warrants to the other parties that it has the corporate power and authority and legal right to enter into this
Agreement and to perform its obligations hereunder; and that this Agreement has been duly executed and delivered on behalf of each party and, except as it may be limited by applicable law, constitutes a legal, valid, binding obligation, according to
its terms. 
 Section 10.3 Consents 
 Each party represents and warrants to the other parties that all necessary consents, approvals and authorizations of all governmental authorities and others required to be obtained by such party in
connection with this Agreement have been obtained. 
 Section 10.4 No Conflict 

Each party represents and warrants to the other parties that the execution and delivery of this Agreement and the performance of such
party’s obligations hereunder do not conflict with or violate any requirement of applicable laws or regulations, and do not conflict with, or constitute a default under any contractual obligation of such party. 

Section 10.5 Authorization of Obligations 
 Each party represents and warrants to the other parties that the execution, delivery and performance by such party of this Agreement have been duly authorized by all necessary corporate action and do not
and will not (a) require any consent or approval of its stockholders or any other third party that has not been received by the Effective Date, (b) violate any provision of any law, rule, regulation, order, writ, judgment, injunction,
decree, determination or award presently in effect that have applicability to it or any provision of its charter documents or (c) result in a breach of or constitute a default under any material agreement, mortgage, lease, license, permit or
other instrument or obligation to which it is a party or by which it or its properties may be bound or affected. 
 Section 10.6
Cancer Vac Representations 
 Cancer Vac represents and warrants to Biomira that as of the date of this Agreement: 

 

	 	10.6.1	 Cancer Vac is the sole owner and/or is the exclusive licensee under a valid and subsisting license of the Cancer Vac Technology and that such rights
are unencumbered by any lien, security interest or other right granted by Cancer Vac or otherwise and that all formal requirements in connection with the maintenance and continuation of the patents and other proprietary rights included in the Cancer
Vac Technology (including without limitation the payment of fees and taxes necessary for the continued use of and/or registration thereof) have been complied with as at the Effective Date. Cancer Vac has no Knowledge of any reason why any patent or
other proprietary right included in the Cancer Vac Technology could 

  
 36.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
be held to be invalid or otherwise unenforceable, of any reason why any patent application or other application included in the Cancer Vac Technology could be refused or withdrawn, of any reason
why any Person could claim that the development, manufacture, production, design, marketing, distribution, use or sale of Products could infringe its intellectual property rights or that any trade secret of another Person has been or could be
appropriated as a result of the development, manufacture, production, design, marketing, distribution, use or sale of Products. Cancer Vac has taken all reasonable measures to avoid misappropriation of trade secrets or infringement of copyright.

  

	 	10.6.2	 Cancer Vac has not assigned or conveyed, as at the Effective Date, any interest in Cancer Vac Technology to any third party other than Biomira, or
entered into any agreement or made any commitment which is inconsistent with or in derogation of the rights granted to Biomira hereunder. 

 Section 10.7 Certain Covenants of Biomira and Cancer Vac 
  

	 	10.7.1	 Throughout the term of this Agreement, for the benefit of the other party, Biomira and Cancer Vac each shall: 

 

	 	10.7.1.1	 maintain and preserve its corporate existence, rights, franchises and privileges in the jurisdictions of its formation; and

  

	 	10.7.1.2	 comply in all material respects with the requirements of all applicable laws, rules, regulations and orders of any government authority to the
extent necessary to perform its obligations hereunder, except for those laws, rules, regulations, and orders it may be contesting in good faith. 

  

	 	10.7.2	 Cancer Vac covenants and agrees for the benefit of Biomira and its Affiliates to take all actions necessary or desirable to preserve the rights
under the ARI License Agreements sublicensed to Biomira and its Affiliates under this Agreement and to not agree to any amendment of the ARI License Agreements which would materially and adversely affect the rights of Biomira and its Affiliates
under this Agreement. 

  

	 	10.7.3	 Biomira covenants and agrees for the benefit of Cancer Vac to take all actions necessary or desirable to preserve the rights under the CRTL License
Agreement sublicensed to Cancer Vac under this Agreement and to not agree to any amendment of the CRTL License Agreement which would materially and adversely affect the rights of Cancer Vac under this Agreement. 

 

	 	10.7.4	 Cancer Vac shall provide to Biomira in a timely manner any and all reports and information relating to the Cancer Vac Territory which Biomira is
required to provide to CRTL under the CRTL License Agreement. 

 Section 10.8 Biomira Representation

 Biomira represents and warrants to Cancer Vac that as of the date of this Agreement it has no Knowledge of any issue
concerning the invalidity of any claims of the CRTL Technology nor 

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
does it have any Knowledge of any potential infringement by making, using and/or selling the Products of the proprietary rights of any third parties. 

Section 10.9 No Further Representations or Warranties 
 Except as expressly provided in this article 10 or any other provision of this Agreement, neither party makes any representation or warranty of any kind to the other party, express or implied. 

Section 10.10 Knowledge 
 “Knowledge” of Cancer Vac shall [ * ]. “Knowledge” of Biomira shall be [ * ]. 
 ARTICLE 11  
 MISCELLANEOUS 

Section 11.1 Force Majeure 
  

	 	11.1.1	 Means an event, the cause of which is beyond the reasonable control of the party affected thereby and which could not reasonably have been foreseen
and provided against, including, without limitation, acts of God, strikes, lock-outs or other labour or industrial disturbances, accidents, fires, explosions, weather conditions materially affecting or preventing work, inability to secure fuel,
power, materials, contractors or labour, mechanical breakdown, failure of equipment or machinery, delays in transportation, wars, civil commotion, riot, sabotage, interruptions by government, court orders, or orders or rulings by regulatory bodies;
provided that an event caused by or materially contributed to by a party’s financial difficulty shall not be included as a force majeure event. 

  

	 	11.1.2	 Notwithstanding any other provision of this Agreement, if by reason of Force Majeure, either party is wholly or partly unable to perform certain of
its obligations under this Agreement, it shall be relieved of those obligations to the extent, and for the period, that it is affected by Force Majeure, provided that the affected party gives the other party prompt notice of such inability and
nature, cause and expected duration of the Force Majeure. The party affected by Force Majeure shall use all reasonable efforts to remedy the situation and remove, so far as possible and with reasonable dispatch, the cause of its inability to
perform, provided that there shall be no obligation on a party so affected to settle labour disputes or to test or to refrain from testing the validity of any order, regulation or law in any court having jurisdiction. The party affected by Force
Majeure shall give prompt notice of the cessation and the cause thereof, and shall provide reports at least every [ * ] as to its progress in dealing with the Force Majeure. Should the Force Majeure event continue for a period longer than [ * ], the
party shall no longer be relieved of its obligations under this Agreement. 

 Section 11.2 Notice

 Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be delivered
in Person, transmitted by facsimile or similar means of recorded electronic communication or sent by registered mail, charges prepaid, addressed as follows: 
 if to Biomira Inc. 

  
 38.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Biomira Inc. 

2011 — 94 Street 
 Edmonton, Alberta T6N 1H1 
 Canada 

Attention: President 
 Facsimile: (780) 450-4772 
 if to Cancer Vac Pty Ltd: 

Cancer Vac Pty Ltd 
 Suite 7, 79-83 High Street 
 Kew, Victoria, 3101 

Australia 
 Attention: Marcus Clark 
 Facsimile: +61 3 9854 5777 

if to Prima Biomed Limited: 
 Prima Biomed Limited 
 Suite 7, 79-83 High Street 

Kew, Victoria, 3101 
 Australia 
 Attention: Marcus Clark 

Facsimile: +61 3 9854 5777 
 Any such notice or other communication shall be deemed to have been given and received on the day on which it was delivered or transmitted (or, if such day is not a business day, on the next following
business day) or, if mailed, on the fifth (5th) business day following the date of mailing; provided, however, that if at the time of mailing or within five (5) business days thereafter there is or occurs a labour dispute or other event
that might reasonably be expected to disrupt the delivery of documents by mail, any notice or other communication hereunder shall be delivered or transmitted by means of recorded electronic communication as aforesaid. Either party may at any time
change its address for service from time to time giving notice to the other party in accordance with this section 11.2. 

Section 11.3 Waivers 
 No waiver of any term, provision, or condition of this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be construed as a further or continuing waiver of any
such term, provision, or condition of this Agreement unless reduced to writing signed by an authorized representative of each party. 

Section 11.4 Dispute Resolution 
 Should any dispute arise between the parties concerning this Agreement, the parties agree to first attempt to resolve the dispute in good faith. If within [ * ] of one party providing written notice of
such dispute to the other party such dispute is not resolved as aforesaid, then the dispute shall immediately thereafter be referred for resolution to the Chairman of Cancer Vac and the President of Biomira before resorting to any other forum for a
remedy. If resolution of the dispute is not reached between the Presidents within [ * ] of such dispute being referred to the 

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
Presidents, then the parties shall refer the dispute to binding arbitration by a single arbitrator under the Arbitration Act (British Columbia) which shall be held at a neutral site in
Vancouver, British Columbia, Canada. 
 Section 11.5 Assignment 

No party to this Agreement shall be entitled to assign its rights or obligations under this Agreement to any Person without the prior
written consent of the other parties (such consent not to be unreasonably withheld), provided that (subject to the second sentence of this section 11.5) any party may, without such consent, assign or novate this Agreement and its rights and
obligations hereunder in connection with the transfer or sale of all or substantially all of its business after first giving the other parties written notice of such event and further provided that Biomira shall be entitled, without such consent, to
assign or transfer its rights and obligations hereunder to any Affiliate of Biomira. Notwithstanding the foregoing, no assignment of any rights or obligations in relation to the CRTL Technology may be made without the prior written consent of CRTL,
such consent not to be unreasonably withheld. 
 Section 11.6 Taxes 

Each of Biomira and Cancer Vac shall be responsible for any and all taxes and other similar levies or charges properly assessed against
payments received by such party from the other party under this Agreement. If applicable laws or regulations require the taxes be withheld on such payments, the withholding party will in a timely manner notify the other party in writing specifying
the details thereof and shall: 
  

	 	11.6.1	 deduct those taxes from the amount of such payment due to the receiving party; 

 

	 	11.6.2	 pay the taxes to the proper taxing authority in a timely manner; and 

 

	 	11.6.3	 send proof of payment to the receiving party within [ * ] following that payment. 

The parties agree to cooperate to reduce the amount of any such deductions and to obtain the benefit of any tax treaty with respect to
such deductions. Further, the withholding party shall cooperate with the receiving party in obtaining for the receiving party the credit or refund for any such taxes, levies or charges. Neither party shall be required under this concluding paragraph
of section 11.6 to act in a manner which is financially detrimental from a taxation perspective to such party. 
 Section 11.7
Integration Clause 
 This Agreement is the sole agreement with respect to the subject matter hereof, and supersedes
all proposals, negotiations, conversations, discussions, agreements and/or representations, whether oral or written, including any industry custom or past dealing between the parties relating to the subject matter of this Agreement. The parties
agree that any and all obligations between the parties that are outside the terms of this Agreement and that relate to the subject matter of this Agreement that preceded the Effective Date of this Agreement have been satisfactorily executed or are
null and void. 
 Section 11.8 Independent Contractors 

 

	 	11.8.1	 This Agreement shall not constitute or give rise to an agency, partnership or joint

  
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THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	 
venture between the parties and each party’s performance hereunder is that of a separate, independent entity. 

 

	 	11.8.2	 Nothing in this Agreement shall be deemed to be the grant by either party to the other of any right, title or interest in any product, material or
proprietary rights of the other except as may be expressly provided for in this Agreement. 

 Section 11.9
Severability and Survival 
 To the extent that any provision of this Agreement shall be prohibited by or held to be
invalid or unenforceable under applicable law, such provision shall be ineffective to the extent of such prohibition, invalidity or unenforceability, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

 Section 11.10 Dollars 
 Unless otherwise provided, any reference in this Agreement to dollars shall be to U.S. dollars. 

Section 11.11 Amendment of Agreement 
 No change, modification, extension, termination, waiver or other amendment of this Agreement or any of the provisions contained herein, shall be valid unless made in writing and signed by a duly
authorized representative of each party. 
 Section 11.12 Governing Law and Attornment 

This Agreement is subject to and shall be governed by the laws of the Province of Alberta and the laws of Canada applicable therein
(without giving effect to the conflict of law provisions thereof) and the parties agree to irrevocably attorn to the exclusive jurisdiction of the courts of Alberta. 
 Section 11.13 Non-Solicitation 
 Except as otherwise
agreed to in writing by Biomira and Cancer Vac, during the Term, Cancer Vac shall not solicit to employ any employees of Biomira or any of its Affiliates, nor shall Biomira solicit to employ any employees of Cancer Vac or its Affiliates, unless an
employee responds directly to a general advertisement for employment that is posted in a newspaper or on a website or any other form of publication directed at the public in general. 
 Section 11.14 Counterparts 
 This Agreement may be
executed in several counterparts, each of which when so executed shall be deemed to be an original and shall have the same force and effect as an original but such counterparts together shall constitute but one and the same instrument. 

  
 41.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 IN WITNESS WHEREOF, the parties hereto have each caused this Agreement to be executed by
their duly authorized representatives as of the date first above written. 
  

			
	BIOMIRA, INC.
		
	Per:	 	/s/ Edward A. Taylor Mar 09 2004
		 	Edward A. Taylor
		
	Per:	 	/s/ Robert D. Aubrey Mar 09 2004
		 	Robert D. Aubrey

  

					
	EXECUTED by CANCER VAC PTY LTD ACN 096 859 513 in a manner authorized by the Corporations Act with the authority of the director(s):	 	 )

)

)
	 	
			
	/s/ Marcs Clark	 		 	Marcs Clark
	Signature of Director/Secretary	 		 	Name of Director/Secretary in full
			
	/s/ Richard Revelins	 		 	Richard Revelins
	 Signature of Director/Secretary
	 		 	Name of Director/Secretary in full
			
	 EXECUTED by PRIMA BIOMED LIMITED ACN 009 237 889 in a manner authorized by the Corporations Act with the authority of the
director(s):
	 	 )

)

)
	 	
			
	 /s/ Bryan John Frost
	 		 	 Bryan John Frost

	 Signature of Director/Secretary
	 		 	 Name of Director/Secretary in full

			
	 /s/ Richard Revelins
	 		 	 Richard Revelins

	 Signature of Director/Secretary
	 		 	 Name of Director/Secretary in full

  
 42.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 SCHEDULE A 
 CancerVac Know How Schedule 
 Know How: 

CancerVac Know How as defined in this Agreement is inclusive of all protocols, data and reports pertaining to current product candidate
as well as information and data from ongoing research and development in the following areas: 
 [ * ] 

  
 43.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 CONFIDENTIAL 
 SCHEDULE B 
 Cancer Vac Patent Schedule 

Patents/applications: 2 Families 
 The following table indicates the status of each Patent/application in each family. 
 FAMILY A: MFP (Mann-Mucl Fusion Protein); priority: 23/12/93 
  

					
	 COUNTRY
	  	 PATENT/APPLICATION #
	  	 STATUS

	 Australia
	  	685539	  	Granted; expires 24/12/14
	 Canada
	  	2135833	  	Pending
	 Europe
	  	94303817.4	  	Pending
	 Japan
	  	6-137976	  	Pending
	 United States
	  	5,989,552	  	Issued (parent claiming immunogenic conjugates); expires 16/11/14
	 United States
	  	6,177,256	  	Issued (divisional claiming vaccines); expires 16/11/14

 FAMILY B: Mannose receptor bearing cells from PCT/IB98/01718 (priority: 29/9/97) 

 

					
	 COUNTRY
	  	 PATENT/APPLICATION #
	  	 STATUS

	 Australia
	  	754065 (94555/98)	  	Granted; expires 29/9/18
	 Canada
	  	2304952	  	Pending
	 Europe
	  	98947738.5/1027063	  	Pending
	 Japan
	  	2000-513589	  	Pending
	 United States
	  	09/163,089	  	Pending

  
 44.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 SCHEDULE C 
 BIOMIRA PATENT AND KNOW HOW SCHEDULE 
 Note that the list
represents currently active members of the pertinent patent family licensed by Biomira from CRTL, however not all patents/pending applications will contain claims covering the CRTL technology licensed under this Agreement 

 

									
	 	  	Application/patent number	 	  	Status	 
	 US:
	  	 	5,683,674	  	  	 	Granted	  
		  	 	6,222,020	  	  	 	Granted	  
		  	 	6,054,438	  	  	 	Granted	  
		  	 	09/729,226	  	  	 	Pending	  
			
	 Europe:
	  	 	0,341,252	  	  	 	Granted	  
		  	 	00127074.3	  	  	 	Pending	  
			
	 Japan:
	  	 	36592/98	  	  	 	Pending	  
		  	 	125724/00	  	  	 	Pending	  
			
	 Canada:
	  	 	1,339,204	  	  	 	Granted	  

 The CRTL Technology also includes know how and other rights granted by CRTL to Biomira under the CRTL
License Agreement 
 [ * ]. 

  
 45.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 DEED OF VARIATION OF LICENSE AND DEVELOPMENT AGREEMENT 

This deed (“this Variation”) made as of the 5th day of February, 2007 
 AMONG: 
 BIOMIRA INC., a corporation incorporated
under the laws of Canada 
 (hereinafter referred to as “Biomira”) 

- and - 
 CANCER VAC PTY LTD [ACN 096 859 513], a corporation incorporated under the laws of Australia (hereinafter referred to as “Cancer Vac”) 

- and- 
 PRIMA BIOMED LIMITED [ACN 009 237 889], a corporation incorporated under the laws of Australia (hereinafter referred to as “Prima Biomed”) 

WHEREAS Biomira, Cancer Vac and Prima Biomed are parties to an agreement entitled “License and Development Agreement”
dated 9 March 2004 (“the Agreement”); 
 AND WHEREAS Biomira, Cancer Vac and Prima Biomed have agreed to vary the
Agreement as set out in this Variation; 
 NOW, THEREFORE, in consideration of the premises and covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged and agreed to by the parties, and intending to be legally bound hereby, the parties hereto agree as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.1 Terms Defined in Agreement 
 Subject to Section 1.2, unless otherwise provided, terms defined in the Agreement (as amended by this Variation, if applicable) have the same meaning in this Variation. 

Section 1.2 Terms Defined in this Variation 
 Despite Section 1.1, in this Variation the following terms shall have the following meanings: 
  

	 	1.2.1	 “Agreement” means the agreement entitled “License and Development Agreement” between Biomira, Cancer Vac and Prima Biomed dated
9 March 2004, together with all schedules thereto and any amendments to or restatements of that agreement prior to the entry into this Variation by the parties; 

  
 1. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

	 	1.2.2	 “Effective Date” means February 5, 2007; 

 

	 	1.2.3	 “PRR Shares” means all ordinary fully paid shares held by Biomira in the capital of Prima Biomed as at the Effective Date, of which there
are approximately [ * ]; 

  

	 	1.2.4	 “Reimbursement Amount” means the amount [ * ]; 

 

	 	1.2.5	 “Variation” means this deed of variation of license and development agreement, together with all schedules hereto and any amendments to or
restatements of this variation of license and development agreement. 

 Section 1.3 Number and Gender

 Words importing the singular number only in this Variation shall include the plural number and vice versa and words
importing one gender only in this Variation shall include all genders and words importing Persons in this Variation shall include individuals, partnerships, corporations and any other entities, legal or otherwise. 

Section 1.4 Headings 
 The headings used in this Variation are for ease of reference only and shall not affect the meaning or the interpretation of this Variation. References to sections and articles are to sections and
articles of this Variation unless the context otherwise requires. 
 Section 1.5 Schedule 

The following Schedule attached to this Variation shall form part of this Variation: 

Schedule D - Additional Cancer Vac Territory Countries 
 Section 1.6 Annexure 
 The consolidated copy of the
Agreement as varied by this Variation annexed to this Variation as Annexure 1 shall form part of this Variation, and shall apply and be interpreted as provided for in Section 2.6. 
 Section 1.7 Effective Date 
 This Variation shall have effect on and from
the Effective Date. 
 Section 1.8 Legislation 

Any reference in this Variation to legislation or a statute includes, unless otherwise indicated, rules and regulations passed or in force
as at the date of this Variation and any amendments to such rules or regulations from time to time, and any legislation or regulations substantially replacing the same. 

  
 2. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 ARTICLE 2 
 VARIATION OF LICENSE AND DEVELOPMENT AGREEMENT 
 Section 2.1
Substitution of Provisions 
 The Agreement is varied, with effect on and from the Effective Date, by substituting the
text set out in the second column of the table below for the text of the article, section, sub-section, clause or provision in the Agreement identified in the first column of the table: 

 

			
	 Article,

Section, Sub-

Section,
 clause or
provision:
	  	 Delete text as appearing and substitute with the text set out
below:

	 1.1.7
	  	“Cancer Vac End User” shall, for purposes of section 1.1.10 of this Agreement, mean, with respect to a Product, the first purchaser at arm’s length (or, if not at
arm’s length, as provided for in section 1.1.10 of this Agreement) with Cancer Vac, an Affiliate of Cancer Vac or any sublicensee (including, without limitation, any sublicensee of a sublicensee), as the case may be, that acquires such Product
in final form for end use, including physicians, hospitals and wholesalers, provided that [ * ] such Product is sold to such person [ * ] such Product in the country in question;
		
	 1.1.10
	  	 Replace the initial paragraph of 1.1.10 with the following:
 “Cancer Vac Net Sales” shall mean, with respect to a Product in a particular country, the sum of the gross amounts received for all Sales (directly or indirectly) by Cancer Vac, its Affiliates
and all sublicensees (including, without limitation, any sublicensee of a sublicensee), assignees and transferees of such Product to Cancer Vac End Users, less the following deductions from such amounts invoiced which are actually and properly
incurred in accordance with GAAP;

		
	 1.1.13
	  	“Cancer Vac Territory” means Australia, New Zealand, the countries set out in Schedule D and, except to the extent that Biomira elects in accordance with section 3.1.3
of this Agreement to receive a license to all or a portion thereof (and has not rescinded such election), the Territory;
		
	 1.1.41
	  	“ROW Territory” shall mean all countries of the world except Canada, the United States of America, Mexico, Australia, New Zealand and the countries set out in Schedule
D;
		
	 1.1.48
	  	“Territory” shall mean, collectively, the North American Territory and the ROW Territory;
		
	 1.4 Schedules
	  	The following Schedules attached to this Agreement shall form part of this Agreement:

  
 3. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

			
	 Article,

Section, Sub-

Section,
 clause or
provision:
	  	 Delete text as appearing and substitute with the text set out
below:

		  	 Schedule A — Cancer Vac Know-How
 Schedule B — Cancer Vac Patent Rights
 Schedule C — CRTL Know-How and Patent
Rights
 Schedule D — Additional Cancer Vac Territory Countries

		
	 2.2
	  	 (a) Subject to section 2.2(b) of this Agreement, Cancer Vac shall have no right to grant sublicenses under the
sublicense set forth in section 2.1 of this Agreement without the prior written consent of Biomira and CRTL (such consent not to be unreasonably withheld) and, to the extent applicable, complying with the provisions of this Agreement and the CRTL
License Agreement. Cancer Vac shall at least [ * ] prior to the execution of any proposed sublicense agreement provide a complete copy thereof to Biomira for review by Biomira and CRTL. In any such sublicense agreement Cancer Vac shall ensure that
the sublicensee is legally bound by the provisions of this Agreement relating to the use and safeguarding of the licensed technology including the confidentiality provisions in article 5 of this Agreement. No such sublicensee shall grant any further
license of such licensed technology to any other Person. Cancer Vac shall be responsible for diligently enforcing the provisions of any such sublicense agreement and for the acts and omissions of the sublicensee and all such acts and omissions of
the sublicensee shall be regarded for purposes of this Agreement as the acts and omissions of Cancer Vac.
  

(b) Commencing [ * ], Cancer Vac may (and any sublicensee of Cancer Vac may) grant one or more sublicenses under the sublicense set forth
in section 2.1 of this Agreement in respect of the Cancer Vac Territory outside of the North American Territory. Cancer Vac shall, at least [ * ] prior to the execution of any such proposed sublicense agreement, provide a complete copy thereof to
Biomira. Further, any such sublicense agreement shall comply with the terms of this Agreement and Cancer Vac shall ensure that the sublicensee is legally bound by the provisions of this Agreement relating to the use and safeguarding of the licensed
technology, including the confidentiality provisions in article 5 of this Agreement. Cancer Vac shall be responsible for diligently enforcing or causing the diligent enforcement of the provisions of any such sublicense agreement and for the acts and
omissions of any such sublicensee and all acts and omissions of any such sublicensee shall be regarded for the purposes of this Agreement as the acts and omissions of Cancer
Vac.

  
 4. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

			
	 Article,

Section, Sub-

Section,
 clause or
provision:
	  	 Delete text as appearing and substitute with the text set out
below:

	 2.3
	  	 Subject to the terms and conditions of the CRTL License Agreement, the sublicense granted under section 2.1 of this Agreement shall
remain in force and effect on a Product-by Product and country-by-country basis until the later of:
  
 2.3.1 the expiration or termination of the last to expire or terminate of Valid Claims that cover such Product in such country; and

 
 2.3.2 the expiration or termination of the last to expire or terminate of the
Exclusivity Period(s) that cover such Product in such country.

		
	 2.8.1.1
	  	$[ * ] upon [ * ];
		
	 2.8.1.2
	  	$[ * ] upon [ * ];
		
	 2.9.1.1
	  	[ * ] percent ([ * ]%) for Cancer Vac Net Sales of Product in the [ * ]; and
		
	 2.9.1.2
	  	[ * ] percent ([ * ]%) for Cancer Vac Net Sales of Product in the [ * ];
		
	 2.9.2
	  	at any time when [ * ] under section [ * ] of this Agreement [ * ] in relation to the [ * ] the [ * ], [ * ] percent ([ * ]%) for Cancer Vac Net Sales in the [ *
];
		
	 2.9.3
	  	at any time when [ * ] under section [ * ] of this Agreement [ * ] in relation to the [ * ] the [ * ], [ * ] percent ([ * ]%) for Cancer Vac Net Sales in [ * ];
and
		
	 4.11.1.1
	  	so long as the Cancer Vac Territory includes the Territory, one hundred percent (100%) by Cancer Vac;
		
	 4.2.8
	  	Disbanding: the Steering Committee shall remain in full force and effect for as long as any Product is or may be in Clinical Development under this Agreement, provided
that the Steering Committee will be disbanded in circumstances where either the Biomira Territory is the Territory (and not just the North American Territory) or the Cancer Vac Territory is the entire world and Biomira has no residual rights under
article 3 of this Agreement.
		
	 4.4
	  	Except as otherwise provided by law, [ * ] and [ * ] under this Agreement in relation to the [ * ] shall determine the Sales price for Product(s) Sold in the [ * ], provided that
[ * ] shall ensure that the Sales price for Product(s) Sold in [ * ] the Sales price for Product(s) Sold outside of [ * ].

  
 5. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

			
	 Article,

Section, Sub-

Section,
 clause or
provision:
	  	 Delete text as appearing and substitute with the text set out
below:

	 4.5
	  	Biomira (or its designated Affiliate) shall be responsible for advertising and promotion of Product(s) in the Biomira Territory and Cancer Vac shall be responsible for
advertising and promotion of Product(s) in the Cancer Vac Territory.
		
	 4.7
	  	[ * ] and [ * ] under this Agreement in relation to the [ * ] shall be responsible for handling all customer complaints and inquiries regarding the Product(s) [ * ]. All
complaints and inquiries received by the other parties or their agents shall be promptly referred to [ * ] to the [ * ] for response according to applicable law. [ * ] to the [ * ] shall use commercially reasonable efforts to handle such matters in
a timely manner, in compliance with applicable laws, regulations, rules, policies and regulatory requirements and in accord with [ * ] standard operating procedures. All costs incurred in responding to customer complaints and inquiries shall be
deemed to be Shared Costs for purposes of this Agreement.
		
	 4.8
	  	[ * ] and [ * ] under this Agreement in relation to the [ * ] shall be responsible for reporting all adverse events regarding Product(s) [ * ]. All information received by the
other party or their agents shall be promptly transferred according to applicable law to [ * ] to the [ * ] for handling. [ * ] to the [ * ] shall handle such matter in a timely manner, in compliance with applicable laws and regulations, and in
accord with [ * ] standard operating procedures. All costs incurred in responding to and reporting adverse events regarding Product(s) shall be deemed to be Shared Costs for purposes of this Agreement.
		
	 4.9
	  	[ * ] and [ * ] under this Agreement in relation to the [ * ] shall be responsible for initiating and implementing all Product recalls required by controlling regulatory agencies
[ * ] and for all voluntary Product market withdrawals. [ * ] to the [ * ] shall handle such matters in a timely manner, in compliance with applicable laws and regulations, and in accord with [ * ] standard operating procedures. [ * ] shall use
commercially reasonable efforts to cooperate with such [ * ] with respect to the implementation of any such recall or market withdrawal. All costs incurred in responding to recalls and market withdrawals shall be deemed to be Shared Costs for
purposes of this Agreement.

  
 6. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

			
	 Article,

Section, Sub-

Section,
 clause or
provision:
	  	 Delete text as appearing and substitute with the text set out
below:

		
	 6.1
 (including sub-heading amendment)
	  	 Improvements
 All
inventions, discoveries, improvements or other technology to the extent specifically applicable in the Field and all processes or uses relating thereto, which are capable of protection as proprietary intellectual property (including for greater
certainty trade secrets), that arise after the Effective Date as a result of conduct under this Agreement shall be regarded as improvements (“Improvements”).

		
	 6.8
	  	Biomira agrees not to consent to any amendment to the CRTL License Agreement which may in any way adversely effect Cancer Vac’s rights under this Agreement and further
agrees to fully comply with its obligations and enforce its rights under the CRTL License Agreement so as to avoid any adverse effect on Cancer Vac’s rights under this Agreement.
		
	 7.1.1
	  	If any party becomes aware of any facts that indicate the likelihood that any intellectual property in any Product is being infringed by any Person, or if any Person wrongfully
engages in any activity that is covered by the Cancer Vac Technology and/or the CRTL Technology, that party shall inform Biomira and Cancer Vac in writing of those facts in reasonable detail.
		
	 7.2
	  	 The title of Section 7.2 shall read as follows:
 Claims Against Cancer Vac Technology and CRTL Technology

  
 7. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

			
	 Article,

Section, Sub-

Section,
 clause or
provision:
	  	 Delete text as appearing and substitute with the text set out
below:

	 8.2
	  	Cancer Vac shall indemnify and hold Biomira (its affiliates and their respective officers, directors, shareholders, employees, agents and their successors and permitted assigns)
(collectively the “Biomira Indemnitees”) free and harmless from any claims, demands, liabilities, losses, actions or causes of actions, and any and all expenses associated therewith (including without limiting the generality of the
foregoing, reasonable defense costs and legal fees), arising out of or in connection with, or that are the result of, or are otherwise related to: (i) any claim, suit, proceeding or cause of action against any of the Biomira Indemnitees alleging
physical injury (including death) or property damage as a result of the acts or omissions of Cancer Vac or any sublicensee (including, without limitation, any sublicensee of a sublicensee) or their respective officers, directors, shareholders,
employees or agents, except to the extent attributable to any one or more of the Biomira Indemnitees; (ii) any failure of Cancer Vac to perform, in whole or in part, any covenants or obligations under this Agreement except to the extent attributable
to any one or more of the Biomira Indemnitees; (iii) Cancer Vac’s or any sublicensee’s (including, without limitation, any sublicensee of a sublicensee) non-compliance with any applicable national, federal, provincial or state laws or
regulations, except to the extent attributable to any one or more of the Biomira Indemnitees; (iv) any breach by Cancer Vac of any of its representations or warranties under this Agreement; or (v) Cancer Vac’s or any sublicensee’s
(including, without limitation, any sublicensee or a sublicensee) marketing and Sale of Product, except to the extent attributable to any one or more of the Biomira Indemnities. To the extent that Cancer Vac does not fulfill in a timely manner its
indemnification obligations under this section 8.2, Prima Biomed covenants and agrees to fulfill such obligations on behalf of Cancer Vac.
		
	 9.1
	  	 This Agreement shall be effective as of the Effective Date and, unless terminated earlier pursuant to this article 9, shall remain in
force, and effect, on a Product-by-Product and country-by-country basis until the later of:
  
 9.1.1 the expiration or termination of the last to expire or terminate of Valid Claims that cover such Product in such country; and

 
 9.1.2 the expiration or termination of the last to expire of the Exclusivity
Period(s) that cover such Product in such country.

  
 8. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 2.2 Addition of new Provisions 

In addition to the variations effected by section 2.1, the Agreement shall be further varied, with effect on and from the Effective Date,
by inserting the text set out in the second column of the table below as article, section, sub-section, clause or provision in the Agreement identified in the first column of the table: 

 

			
	 Article,

Section, Sub-

Section,
 clause or
provision:
	  	 Amend existing numbering as appearing (where indicated) and insert as new the text set
out below:

	 1.1.23a
	  	 “Exclusivity Period” means, with respect to a particular Product in a particular country, the period for which such Product is protected by a Valid
Claim or any applicable extension to a Valid Claim or any applicable marketing exclusivity period (examples of applicable extensions and/or marketing exclusivity periods include, without limitation, orphan drug status (e.g., United States), first
approval of a new class of biological product (e.g., European Union) and safety reporting period (e.g., Japan)).

		
	 2.9.5
	  	 Add the following as a new sub-clause 2.9.5:
 For greater certainty, the parties acknowledge that the provisions of this Agreement (including, without limitation, the provisions of this section 2.9) shall apply to all Sales (directly or
indirectly) of Product by Cancer Vac, its affiliates and all sublicensees (including any sublicensee of a sublicensee), assignees and transferees, but the granting by Cancer Vac of a sublicense pursuant to section 2.2 of this Agreement shall not, in
and of itself, cause Cancer Vac to incur any additional liabilities beyond those specified in this Agreement merely as a result of the grant of such sublicense.

 Section 2.3 Deletion of Provisions 

In addition to the variations effected by section 2.1, and the addition of new provisions effected by section 2.2, the Agreement shall be
further varied, with effect on and from the Effective Date, by deleting the text of the provisions set out in the table below, and inserting the word “deleted” adjacent to the provision reference, (thereby retaining, to the extent
possible, existing number integrity in the Agreement): 
  

			
	 Article, Section, Sub-Section, clause or provision:
	  	 Article, Section, Sub-Section, clause or provision (sub)
heading:

	 1.1.29
	  	Definitions (“Joint Improvements”)
		
	 2.8.1.4
	  	Milestone Payment
		
	 2.8.1.6
	  	Milestone Payment

  
 9. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

			
	 Article, Section, Sub-Section, clause or provision:
	  	 Article, Section, Sub-Section, clause or provision (sub)
heading:

	 2.9.1
 (last paragraph of text forming part of sub-section 2.9.1 appearing directly under clause 2.9.1.2)
	  	Royalty Payments
		
	 6.4
	  	Invention Disclosure
		
	 6.5
	  	Independent Use of Joint Improvements
		
	 6.6
	  	Prosecution and Maintenance of Joint Patents
		
	 7.2.1.3
	  	Claims Against Cancer Vac Technology, CRTL Technology and Joint Technology
		
	 7.2.2.1.3
	  	Damages

 Section 2.4 Definition of Cancer Vac Territory 

The parties confirm: 
  

	 	2.4.1	 the intention of the parties to extend the Cancer Vac Territory to expressly include the countries set out in Schedule D to this Variation in
addition to Australia and New Zealand; and 

  

	 	2.4.2	 the reference to “section 3.1.2” in the definition of “Cancer Vac Territory” in section 1.1.13 of the Agreement is to have been
at all times substituted with and read as a reference to “section 3.1.3”, and section 1.1.13 of the Agreement is amended accordingly from the date of execution of the Agreement. 

Section 2.5 Schedule D 
 Schedule D to this Variation is inserted after Schedule C of the Agreement as an additional Schedule D attached to the Agreement. 
 Section 2.6 Consolidation 
 For the avoidance of doubt
(and expressly not as a novation or restatement, nor as a further or repeat grant of rights) a consolidated copy of the Agreement as varied by this Variation is exhibited for reference as Annexure 1 to this Variation. To the extent of any
inconsistency between the variations of the Agreement set out in this ARTICLE 2 and the consolidation in Annexure 1, the variations set out in this ARTICLE 2 shall prevail. 
 ARTICLE 3 
 PRESERVATION AND CONFIRMATION 

  
 10.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 3.1 Agreement otherwise unaltered 

Except to the extent necessary to give effect to the variations set out in this Variation, in all other respects, but subject to this
Variation, the Agreement remains unaltered and continues in full force and effect. 
 Section 3.2 No Restatement

 The parties confirm that this Variation is supplemental and collateral to the Agreement, notwithstanding that it may
contain provisions independent of the Agreement, and that it is intended to record the agreed amendment(s) of the rights of the parties, and acknowledge and confirm the respective positions of the parties in relation to the rights arising by virtue
of the Agreement, as varied by this Variation. This Variation, and the variations made by it, expressly are not a novation or restatement of the rights or obligations of the parties, nor a repeat grant of rights. 

Section 3.3 Biomira’ Election 
 The parties confirm Biomira has not elected under section 3.1.3 of the Agreement, and shall not hereafter elect, to receive a license to all or a portion of the Territory. Without limiting the foregoing
in any manner whatsoever, and for the avoidance of doubt, the countries set out in Schedule D to this Variation, together with Australia and New Zealand, are excluded from the countries in respect of which Biomira may have been able to elect to
receive a license under section 3.1.3 of the Agreement, but for this Section 3.3. The parties acknowledge that this Section 3.3 exists for the benefit of Cancer Vac and Prima Biomed, and may be waived by those parties, acting jointly in
their absolute discretion, by notice in writing to Biomira. 
 Section 3.4 CRTL Technology outside of the Field

 Nothing in this Variation shall in any way limit the right of Biomira, CRTL and their respective Affiliates and licensees
to use or exploit the CRTL Technology outside of the Field. 
 Section 3.5 Cancer Vac Technology outside of the Field

 Nothing in this Variation shall in any way limit the right of Cancer Vac and its Affiliates and licensees to use or
exploit the Cancer Vac Technology outside of the Field. 
 ARTICLE 4 

REIMBURSEMENT 

Section 4.1 Cancer Vac Reimbursement 
 Cancer Vac shall pay to Biomira, within [ * ] of the Effective Date, the Reimbursement Amount. 

Section 4.2 Cancer Vac procurement of sales 
 Cancer Vac may, within [ * ] of the Effective Date, at its own cost and on such terms as Cancer Vac shall consider appropriate, procure the purchase from Biomira of the PRR Shares, or any part thereof,
and shall otherwise use its best endeavours to provide such assistance to Biomira as may be necessary to effect the transfer of all right, title and interest in the PRR Shares, or any part thereof, to such third parties who shall do all things
necessary at law to receive the right, title and interest in the said PRR Shares. Any funds received from such third parties by Biomira in consideration of the transfer of the PRR Shares to such third parties shall, [ * ], be paid-over by Biomira to
Cancer Vac, provided that in no circumstances shall the aggregate amount of the 

  
 11.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 
monies (i) [ * ] and/or (ii) paid or payable by Biomira to Cancer Vac under this section 4.2 exceed $US [ * ]. 
 Section 4.3 Sale of PRR Shares 
 Biomira shall, on and
from the Effective Date, or from such earlier date as the parties may agree, execute such documents as may be necessary to transfer all right, title and interest in the PRR Shares, or any part thereof, pursuant to section 4.2. 

ARTICLE 5 

CONFIDENTIALITY 

Section 5.1 Confidentiality 
 The covenants of the parties under Article 5 of the Agreement and this ARTICLE 5 of this Variation shall continue in full force and effect notwithstanding the termination of the Agreement or of this
Variation by effluxion of time or otherwise. 
 Section 5.2 No Disclosure 

Except as required by law or any applicable regulatory authority or as otherwise provided herein, the parties agree that the existence of
this Variation and the contents of this Variation and the Agreement as varied by this Variation shall not be disclosed to any third party without the prior written consent of the other parties. Notwithstanding the foregoing, in the event that a
party is required to make a disclosure of the other party’s Confidential Information pursuant to section 5.2 of the Agreement, it will, except where impractical, give reasonable advance written notice to the other party of such disclosure and
use reasonable commercial efforts to secure confidential treatment of such information. 
 Section 5.3 Press Releases

 Except as required by law or any applicable regulatory authority, any press releases or public statements relating to this
Variation or the Agreement as varied by this Variation or the subject matter of either shall prior to being released or made final be provided to the other party for comment in a timely manner. 

ARTICLE 6 

REPRESENTATIONS AND WARRANTIES 
 Section 6.1 Corporate Existence and Power 
 Each party
represents and warrants to the other parties that (a) it is a corporation duly organized and validly existing and in good standing, under the laws of the jurisdiction of its incorporation; (b) it has the corporate power and authority and
the legal right to own its property and assets, to lease the property and assets it operates under lease, and to carry on its business as it is now being conducted; and (c) it is in compliance with all requirements of applicable law, except to
the extent that any non-compliance would not have a material adverse effect on the properties, business, financial or other condition of such party and would not materially adversely affect such party’s ability to perform its obligations under
this Variation and the Agreement as varied by this Variation. 

  
 12.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 6.2 Authorization and Enforcement of Obligations 

Each party represents and warrants to the other parties that it has the corporate power and authority and legal right to enter into this
Variation and to perform its obligations under the Agreement as varied by this Variation; and that this Variation has been duly executed and delivered on behalf of each party and, except as it may be limited by applicable law, constitutes a legal,
valid, binding obligation, according to its terms. 
 Section 6.3 Consents 

Each party represents and warrants to the other parties that all necessary consents, approvals and authorizations of all governmental
authorities and others required to be obtained by such party in connection with this Variation have been obtained. 
 Section 6.4
No Conflict 
 Each party represents and warrants to the other parties that the execution and delivery of this
Variation and the performance of such party’s obligations under the Agreement as varied by this Variation do not conflict with or violate any requirement of applicable laws or regulations, and do not conflict with, or constitute a default under
any contractual obligation of such party. 
 Section 6.5 Authorization of Obligations 

Each party represents and warrants to the other parties that the execution, delivery and performance by such party of this Variation and
the Agreement as varied by this Variation have been duly authorized by all necessary corporate action and do not and will not (a) require any consent or approval of its stockholders or any other third party that has not been received by the
Effective Date, (b) violate any provision of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect that have applicability to it or any provision of its charter documents or
(c) result in a breach of or constitute a default under any material agreement, mortgage, lease, license, permit or other instrument or obligation to which it is a party or by which it or its properties may be bound or affected. 

Section 6.6 No Further Representations or Warranties 
 Except as expressly provided in this ARTICLE 6 or any other provision of this Variation or the Agreement as varied by this Variation, neither party makes any representation or warranty of any kind to the
other party, express or implied. 
 ARTICLE 7 
 MISCELLANEOUS 
 Section 7.1 Integration Clause 

The Agreement as varied by this Variation, and this Variation, are the sole agreement with respect to the subject matter hereof, and
supersedes all proposals, negotiations, conversations, discussions, agreements and/or representations, whether oral or written, including any industry custom or past dealing between the parties relating to the subject matter of the Agreement. The
parties agree that any and all obligations between the parties that are outside the terms of the Agreement as varied by this Variation and that relate to the subject matter of the Agreement as varied by this Variation that preceded the Effective
Date of the Agreement have been satisfactorily executed or are null and void. 

  
 13.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Section 7.2 Severability and Survival 

To the extent that any provision of this Variation or the Agreement as varied by this Variation shall be prohibited by or held to be
invalid or unenforceable under applicable law, such provision shall be ineffective to the extent of such prohibition, invalidity or unenforceability, without invalidating the remainder of such provision or the remaining provisions of this Variation
or the Agreement as varied by this Variation. 
 Section 7.3 Amendment of Variation 

No change, modification, extension, termination, waiver or other amendment of this Variation or any of the provisions contained herein,
shall be valid unless made in writing and signed by a duly authorized representative of each party. 
 Section 7.4 Governing
Law and Attornment 
 This Variation is subject to and shall be governed by the laws of the Province of Alberta and the
laws of Canada applicable therein (without giving effect to the conflict of law provisions thereof) and the parties agree to irrevocably attorn to the exclusive jurisdiction of the courts of Alberta. 

Section 7.5 Counterparts 
 This Variation may be executed in several counterparts, each of which when so executed shall be deemed to be an original and shall have the same force and effect as an original but such counterparts
together shall constitute but one and the same instrument. 

  
 14.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 IN WITNESS WHEREOF, the parties hereto have each caused this deed to be executed (as a deed)
by their duly authorized representatives as of the date first above written. 
  

			
		
	Per:	 	/s/ Robert D. Avery 
	Per:	 	 Robert D. Avery 

  

					
	EXECUTED by CANCER VAC PTY LTD ACN 096 859 513 in a manner authorized by the Corporations Act with the authority of the director(s):	 	 )

)
 )

)
	 	
			
	/s/ Eugen Kopp	 		 	Eugen Kopp
	Signature of Director/Secretary	 		 	Name of Director/Secretary in full
			
	  	 		 	  
	Signature of Director/Secretary	 		 	Name of Director/Secretary in full

  

					
	EXECUTED by PRIMA BIOMED LIMITED ACN 009 237 889 in a manner authorized by the Corporations Act with the authority of the director(s):	 	 )

)
 )

)
	 	
			
	/s/ Eugen Kopp	 		 	Eugen Kopp
	Signature of Director/Secretary	 		 	Name of Director/Secretary in full
			
	  	 		 	  
	Signature of Director/Secretary	 		 	Name of Director/Secretary in full

  
 15.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 SCHEDULE D 
 Additional Cancer Vac Territory Countries 
 [ * ] 

  
 16.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.Collaborative Research Agreement

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION
CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND
FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE
24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

EXHIBIT 4.8 
 

 
 COLLABORATIVE RESEARCH AGREEMENT 

NewSouth Innovations Pty Limited 
 (ABN 25 000 263 025) 
 and 

Prima Biomed Limited 
 ACN 009 237 889 

 Collaborative Research Agreement 

 
 398332_1 

Rupert Myers Building I Gate 14, Barker Street I UNSW SYDNEY NSW 2052 

www.nsinnovations.com.au I enquiries@nsinnovations.com.au 
 T +61 2 9385 5008 I F +61 2 9385 6600 
 Reference: [09_2348] 

  
 2. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

 TABLE OF CONTENTS 

 

							
	 1.
	  	 DEFINITIONS AND INTERPRETATION
	  	 	1	  
	 2.
	  	 SERVICES
	  	 	5	  
	 3.
	  	 STUDENTS
	  	 	6	  
	 4.
	  	 COLLABORATOR DUTIES AND MATERIALS
	  	 	7	  
	 5.
	  	 PAYMENT
	  	 	8	  
	 6.
	  	 INTELLECTUAL PROPERTY RIGHTS
	  	 	8	  
	 7.
	  	 OPTION TO COMMERCIAL LICENCE
	  	 	9	  
	 8.
	  	 PROSECUTION AND MAINTENANCE OF PATENTS
	  	 	10	  
	 9.
	  	 CONFIDENTIAL INFORMATION
	  	 	11	  
	 10.
	  	 PUBLICATIONS
	  	 	12	  
	 11.
	  	 PRIVACY
	  	 	12	  
	 12.
	  	 LIABILITY AND INDEMNITY
	  	 	12	  
	 13.
	  	 TERM AND TERMINATION
	  	 	14	  
	 14.
	  	 FORCE MAJEURE
	  	 	14	  
	 15.
	  	 DISPUTE RESOLUTION
	  	 	15	  
	 16.
	  	 GENERAL
	  	 	15	  

  

    . 
 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED
BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES
AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE
ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

			
	DATE OF
AGREEMENT	  	  
	PARTIES	  	 NewSouth Innovations Pty Limited ABN 25
000 263 025 (NSi)
  
 Rupert Myers Building, Gate 14
Barker Street, UNSW, Sydney, NSW 2052, Australia
  
 Contact:           Chief Executive Officer
 Phone:             +61 2 9385 6527
 Fax:                  +61 2 9385 6502

	 	  	 Prima Biomed Limited ACN 009 237 889
(Collaborator)
  
 Suite 1, 1233 High Street Armadale,
3143 , Victoria
  

Contact:          Martin Rogers, Executive Director

Phone:             +61 3 9824 5254

Fax:                  
+61 3 9822 7735
 Mobile:           +61 (0)428 268
357

Email:             
martin.rogers@primabiormed.com.au
  

 BACKGROUND: 
  

	A.	 NSi is the commercial entity of UNSW responsible for entering into arrangements relating to the commercialisation of Intellectual Property developed
at UNSW, including collaborative research involving such Intellectual Property. 

  

	B.	 The Collaborator wishes to engage NSi to undertake certain research services and the parties wish to enter into a Commercial Licence.

  

	C.	 The Collaborator and UNSW have also applied for an ARC Linkage Grant to conduct research under an ARC Linkage Agreement to further develop the NSi
Background IP. 

  

	D.	 NSi agrees to conduct the Project and the ARC Project, the Collaborator agrees to pay the Fees, and the parties agree to accept certain other rights
and obligations on the terms and conditions of this Agreement. 

 THE PARTIES AGREE: 

 

	1.	 DEFINITIONS AND INTERPRETATION 

 
  

	1.1	 Definitions 

 In this Agreement, unless the context otherwise requires: 

Affiliate means any person who, directly or indirectly, Controls, is Controlled by or is under common Control with
a party. 

  
 1. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

 ARC Project means the project to be conducted under an ARC
Linkage Agreement between the parties and UNSW to further develop NSi Background IP as a result of a successful ARC Linkage Grant Application. 
 ARC Project IP means all Intellectual Property created, conceived, developed or reduced to practice in the course of the ARC Project. 

Application means an application of the Project IP to [ * ]. 

Background IP means Intellectual Property rights owned by or licensed to a party as at the Commencement Date, or
acquired or developed by a party during the Term independently of the Project, which that party has the right to license to third parties and which are necessary for the performance of the Services, including those specified in the Schedule.

 Collaborator Duties means the duties to be undertaken by the Collaborator under clause 4, as specified
in the Research Plan. 
 Collaborator Materials means all equipment, materials, data and information
(including any Background IP) supplied to NSi or its nominee by or on behalf of the Collaborator, including those specified in the Research Plan. 
 Collaborator Personnel means all personnel of the Collaborator involved in the Project. 
 Commencement Date means the commencement date specified in the Schedule. 
 Commercial Licence means the commercial licence set out in Annexure 2. 
 Completion Date means the completion date specified in the Schedule. 
 Confidential Information means all know how, Intellectual Property, business, financial, technical and other commercially valuable or sensitive information of a party in whatever form, including
inventions (whether or not reduced to practice), trade secrets, methodologies, formulae, graphs, drawings, samples, biological materials, devices, models, business plans, policies and any other materials or information which a party regards as
confidential, proprietary or of a commercially sensitive nature that may be in the possession of that party or its Related Bodies Corporate or its or their employees or officers, in each case whether disclosed visually, orally, in writing or by
electronic means, directly or indirectly by a party (including by a Affiliate) and whether disclosed before or after the Commencement Date, but excluding information which: 

 

	 	(a)	 is now in the public domain, or enters the public domain after the Commencement Date, through no fault of the recipient;

  

	 	(b)	 can be shown by contemporaneous records of the recipient to have been known to the recipient at the time it is received pursuant to this Agreement;

  

	 	(c)	 is provided to the recipient by a third party after the Commencement Date, lawfully and without violating any restriction on its disclosure; or

  

	 	(d)	 can be shown by contemporaneous records of the recipient to have been independently developed by the recipient without reference to the Confidential
Information of the other party. 

 Control has the meaning given to that term in section
50AA of the Corporations Act 2001 (Cth): 

  
 2. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	 	(a)	 the ability to cast or control the casting of more than 50% of the maximum number of votes that might be cast at any general meeting (or equivalent)
of an entity; 

  

	 	(b)	 the holding of more than 50% of the issued ordinary share capital, the equity, or other ownership interest, in the entity, or the holding of the
maximum ownership interest permitted in the country where the entity exists; or 

  

	 	(c)	 the ability of a person or persons to direct, or share equally in the direction of, the composition of the board of directors (or equivalent) of the
entity, or to manage the entity pursuant to an agreement. 

 Commercial Licence Schedule
means the schedule attached to the Commercial Licence. 
 Fees means the fees to be paid by the
Collaborator to NSi in accordance with clause 5, as specified in the Schedule. 
 Force Majeure means any
act, event or cause (other than lack of funds) which is beyond the reasonable control of the affected party. 

GST means the tax imposed by the A New Tax System (Goods and Services Tax) Act 1999 (Cth) and related tax
imposition Acts of the Commonwealth of Australia. 
 Intellectual Property means statutory and other
proprietary rights in respect of copyright and neighbouring rights, all rights in relation to inventions, patents, plant varieties, registered and unregistered trade marks, registered and unregistered designs, circuit layouts and rights to require
information to be kept confidential, and all other rights as defined by Article 2 of the Convention establishing the World Intellectual Property Organization of July 1967, and all rights to apply for any of the above, but does not include moral
rights that are not transferable. 
 Option means the option referred to in clause 7. 

Other Key Personnel means the personnel to be involved in the performance of the Services specified in the Schedule
other than the Project Director. 
 Paper means any manuscript, abstract, paper, journal article, Student
Thesis, or content of any oral, poster or other presentation containing or referring to the Services or Background IP or Project IP. 
 Patents means: 
  

	 	(a)	 the patents and patent applications, if any, described in the Schedule; 

 

	 	(b)	 all patent applications that may be filed by or on behalf of NSi which are based on, claim priority from, are divided from or are continuations of
any patent application, if any, described in the Schedule or arising from the Project; and 

  

	 	(c)	 all patents which may be granted pursuant to any of the patent applications referred to in paragraphs (a) or (b). 

Patent Costs means fees, costs and expenses (including patent attorney, legal fees and expenses, external patent
management services fees and government charges) incurred after the Commencement Date, in the obtaining of grants of the Patents or other formal Intellectual Property rights forming part of the Project IP and NSi Background IP in the Territory and
maintaining the same, and includes all expenses incurred in making and prosecuting patent applications and dealing with any opposition to any application for such registrations, any 

  
 3. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

 
challenge to the validity of any such registrations, and action taken in relation to infringement of Patents or such other Intellectual Property. 

Project means the research project to be conducted by NSi under this Agreement in accordance with the Research Plan
and which includes the performance of the Services. 
 Project Director means the UNSW person appointed to
oversee the performance of the Services specified in the Schedule. 
 Project IP means all Intellectual
Property created, conceived, developed or reduced to practice in the course of the Project. 
 Research
Plan means the research plan for the conduct of the Project set out in Annexure 1, as updated in accordance with clause 2.4. 
 Schedule means the schedule attached to this Agreement. 

Services means the services to be performed by NSi as described in the Schedule. 

Student means a person involved in the Project as part of a higher degree programme at UNSW. 

Student Thesis means any thesis or report containing or referring to the Project, the Project IP or any results of
the Project which a Student is required to submit to UNSW pursuant to his or her enrolment in a higher degree programme. 
 Territory means the territory specified in the Schedule. 

Term means the term of this Agreement specified in clause 13.1. 

UNSW means the University of New South Wales (ABN 57 195 873 179). 

UNSW Ethics Committee means: 
  

	 	(a)	 the committee formed in accordance with the terms of reference for the Human Research Ethics Committee; or 

 

	 	(b)	 the committee formed in accordance with the terms of reference for the Animal Care and Ethics Committee, 

as approved from time to time by resolution of the UNSW Council. 

UNSW Personnel means any academic staff, general staff, students or visiting, honorary, adjunct or conjoint
appointees of UNSW. 
 UNSW Policy means the policies, procedures, codes and regulations which govern UNSW
operations. 
  

	1.2	 Interpretation 

 In this Agreement, unless the context requires otherwise: 
  

	(a)	 headings are for convenience only and do not affect interpretation; 

 

	(b)	 the singular includes the plural and conversely, and a gender includes all genders; 

  
 4. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	(c)	 a reference to a clause, schedule or annexure is a reference to a clause of or schedule or annexure to this Agreement and references to this
Agreement include any background recital, schedule and annexure; 

  

	(d)	 a reference to a thing (including a right) includes a reference to a part of that thing; 

 

	(e)	 a reference to a document includes the document as modified from time to time and any document replacing it; 

 

	(f)	 the word “person” includes a natural person and any body or entity whether incorporated or not; 

 

	(g)	 a reference to “written” or “in writing” includes any communication sent by letter, email or facsimile transmission;

  

	(h)	 a reference to any statute, proclamation, rule, regulation or ordinance includes any amendment, consolidation, modification, re-enactment or reprint
of it and any statute, proclamation, rule, regulation or ordinance replacing it. A reference to a specified section, clause, paragraph, schedule or item of any statue, proclamation, rule, regulation or ordinance means a reference to the equivalent
section of the statue, proclamation, rule, regulation or ordinance which is for the time being in force; 

  

	(i)	 a reference to law includes laws, acts, ordinances, rules, regulations, other delegated legislation, codes and the requirements and directions of
any relevant government or quasi-government department, body or authority in force from time to time (including any stock exchange); 

  

	(j)	 wherever “include” or any form of that word is used it must be construed as it were followed by “(without limitation)”;

  

	(k)	 a reference to any agency or body, if that agency or body ceases to exist or is reconstituted, renamed or replaced or has its powers or functions
removed (defunct body), means the agency or body which performs most closely the functions of the defunct body; and 

  

	(l)	 money amounts are stated in the lawful currency of Australia unless otherwise specified. 

 

	2.	 SERVICES 

 
  

	2.1	 Supply of Services by NSi 

 NSi will perform the Services in accordance with the Research Plan and this Agreement. 
  

	2.2	 Use of contractors 

 Subject to clause 2.3, NSi may subcontract all or part of the performance of the Services to appropriately qualified third parties, including to UNSW and UNSW Personnel. 

 

	2.3	 Key personnel 

 NSi will use its reasonable efforts to ensure that the Services are primarily performed by the Project Director and Other Key Personnel specified in the Schedule (if any) or added to the Schedule from
time to time. If for any reason the Project Director or any Other Key Personnel becomes unavailable to NSi before completion of the Services, NSi will promptly notify the Collaborator of a suitable replacement. If the notified replacement is not
reasonably acceptable to the Collaborator in its absolute discretion, the Collaborator may terminate this Agreement immediately by giving written notice to NSi. 

  
 5. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	2.4	 Reporting 

  

	(a)	 At least [ * ] prior to the end of each [ * ] during the Term the parties must consult with each other with a view to agreeing on an updated
Research Plan for the following [ * ]. If the parties fail to agree on an updated Research Plan for any [ * ] prior to the end of the [ * ] then the current Research Plan will remain in place for the following [ * ]. 

 

	(b)	 During the Term NSi must provide to the Collaborator a written report setting out progress of the Services in relation to the Research Plan at least
[ * ], which must include details of any Project IP developed since the last report (“Progress Report”). 

  

	2.5	 Access 

 The Collaborator’s Personnel will have access to NSi’s premises at reasonable times, subject to reasonable security requirements and on reasonable notice, for the purpose of facilitating the
performance of this Agreement. 
  

	2.6	 Uncertain nature of research 

 Each party acknowledges and agrees that research is uncertain and that the Project may produce no results, unpredictable or inaccurate results, or results which do not satisfy the Collaborator’s
requirements. Neither party gives to the other any warranty or assurance that the Project will have any particular result or give rise to any particular product or item of Intellectual Property, or any product having any particular performance or
characteristics. 
  

	3.	 STUDENTS 

 
  

	3.1	 Student involvement 

 The Collaborator acknowledges and agrees Students may be involved in the Project. Any Students will be supervised by appropriate UNSW Personnel and subject to UNSW Policy regarding the participation of
students in industry funded research projects. 
  

	3.2	 Completion of higher degree 

  

	(a)	 The parties acknowledge and agree that nothing contained in this Agreement will prevent a Student involved in the Project from meeting the
requirements of a higher degree. 

  

	(b)	 Despite any other provision of this Agreement, the Collaborator acknowledges and agrees that all or part of the results of the Project may be
included in a Student Thesis which will be made publicly available after the award of a higher degree to the relevant Student. Any such publication of a Student Thesis will be in accordance with UNSW Policy, which contemplates certain restrictions
on publication relating to confidential information and protection of Intellectual Property [ * ]. 

  

	(c)	 NSi must ensure that any external examiner appointed to examine a Student Thesis is bound by written obligations of confidentiality with respect to
the information contained in the Student Thesis on terms consistent with this Agreement. 

  

	(d)	 If this Agreement is terminated prior the Completion Date for any reason and a Student’s participation in the Project forms part of the
Student’s work for a higher degree, the Collaborator grants to NSi a non-exclusive, non-transferable, royalty-free licence, including the right to sublicense to UNSW and UNSW Personnel (including the Student), to use such of the
Collaborator’s Background IP as is necessary for the Student to complete the higher degree 

  
 6. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	 	 
(including completion and examination of his or her Student Thesis for such higher degree in accordance with this clause 3.2). 

 

	4.	 COLLABORATOR DUTIES AND MATERIALS 

 
  

	4.1	 Collaborator to perform Collaborator Duties and provide Collaborator Materials 

The Collaborator must provide to NSi Collaborator Materials, and must comply with and perform all Collaborator Duties, as
specified in the Schedule (if any). The Collaborator must on request promptly provide to NSi or its contractors, information, decisions and services reasonably necessary for the performance of the Services. 

 

	4.2	 Nature of Collaborator Materials 

 The Collaborator warrants that: 
  

	(a)	 the Collaborator is entitled to supply the Collaborator Materials to NSi and its contractors for the purposes of the Project;

  

	(b)	 the use of the Collaborator Materials by NSi or its contractors in the course of the Project is lawful, does not require the consent, permission or
authorisation of any person and will not infringe the rights (including Intellectual Property rights) of any person; 

  

	(c)	 if the Project includes the use, reproduction or adaptation of any Collaborator Materials, the Collaborator has obtained and grants to NSi and its
contractors all necessary authorities for such use, reproduction or adaptation; 

  

	(d)	 all information provided by or on behalf of the Collaborator in relation to the Collaborator Materials is accurate, complete and up to date; and

  

	(e)	 unless expressly specified by written notice to NSi, the Collaborator Materials are not reasonably capable of constituting a threat to safety,
health, life, property or the environment and the Collaborator has given written notice to NSi prior to supplying any Collaborator Materials to NSi or its contractors of any matters affecting the safe, secure and appropriate transportation, use,
storage and disposal of the Collaborator Materials. 

  

	4.3	 No liability if Collaborator Duties not fulfilled 

Without limiting any other rights which NSi may have under this Agreement, NSi will not be liable for any deficiency,
failure or delay in the performance of the Services arising out of: 
  

	(a)	 a breach by the Collaborator of any provision contained in this Agreement; or 

 

	(b)	 a failure or delay by the Collaborator to provide the Collaborator Materials (if any).and timely access to information and decisions.

  

	4.4	 Adjustment of Fees 

 NSi may, after consultation with the Collaborator, reasonably adjust the Fees of any fixed fee component of the Services where the Collaborator has delayed or rendered materially more difficult NSi’s
performance or completion of that component. 

  
 7. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	5.	 PAYMENT 

 
  

	5.1	 Payment of Fees 

 The Collaborator must pay to NSi the Fees in advance, at the rate or amount and in the manner specified in the Schedule. 
  

	5.2	 Expenses 

 In addition to the Fees, the Collaborator must pay or reimburse NSi for all reasonable travel, accommodation, courier and administrative expenses which NSi or any of its contractors incur in performing
the Services. Where practicable NSi or its contractors will not incur any materially significant expenses not already included in the Research Plan without first notifying the Collaborator and obtaining prior written approval for the relevant
expenditure. 
  

	5.3	 Invoices 

 NSi will submit an invoice for the Fees and expenses to the Collaborator quarterly in advance or as otherwise specified in the Schedule and the Collaborator must pay each invoice within [ * ] after
receipt. 
  

	5.4	 Overdue payments 

 If the Licensee fails to pay any amount under this clause 5 within [ * ] after the due date, NSi will charge interest on such overdue payments at [ * ] the prevailing bank overdraft rate nominated by NSi
from the due date until the date of repayment and may suspend performance of the Services and its other obligations under this Agreement until all such overdue amounts are paid in full. 

 

	5.5	 Taxes 

  

	(a)	 Unless otherwise stated in the Schedule, all Fees, expenses and other amounts payable by the Collaborator under this Agreement are exclusive of GST,
withholding tax and any other applicable taxes, duties, imposts and other similar charges payable in respect of the Services (Taxes). 

  

	(b)	 If Taxes are payable on any supply made by NSi under this Agreement, the Collaborator must pay to NSi an additional amount equivalent to the Taxes
at the time that payment to NSi is due. NSi will provide a tax invoice to the Collaborator. 

  

	6.	 INTELLECTUAL PROPERTY RIGHTS 

 
  

	6.1	 Ownership of Background IP 

 Each party acknowledges that all Background IP remains the sole property of its owner and that it acquires no right, title or interest in or to the Background IP of the other party by virtue of this
Agreement or the disclosure or use of the Background IP in the course of the Project, other than as expressly set out in this Agreement. 
  

	6.2	 Licence of Background IP 

 Each party grants to the other party a non-exclusive, royalty-free, non-transferable licence during the Term to use the Background IP owned by it to the extent necessary and for the sole purpose of the
performance of the Project. The licence granted to NSi under this clause 6.2 includes the right to sublicense to NSi’s contractors, including UNSW and UNSW Personnel. 

  
 8. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	6.3	 Ownership of Project IP 

 All right, title and interest in the Project IP and the ARC Project IP vests in and is hereby assigned to NSi with effect from its creation. 

 

	6.4	 Assistance 

 Upon request, each party must at its cost sign all documents and do all things (including requiring its officers, employees and contractors to sign documents) as may be necessary or desirable to vest,
confirm, perfect and record the ownership rights of the other party under this clause 6. 
  

	6.5	 No challenge 

  

	(a)	 The Collaborator must not directly or indirectly engage in any conduct which may endanger the capacity of any Project IP or ARC Project IP owned by
NSi to be protected or challenge its ownership or validity. 

  

	(b)	 The Collaborator agrees clause 6.3 and 7.3 set out its entire rights in respect of ARC Project IP. 

 

	7.	 OPTION TO COMMERCIAL LICENCE 

 
  

	7.1	 Option to Commercial Licence 

 Except where this Agreement is terminated by NSi under clause 13.2, and provided the Collaborator has paid all Patent Costs and Fees and is not otherwise in breach (other than a trivial breach) of any
provision contained in this Agreement, NSi grants to the Collaborator an exclusive option during the Term and for six months after the Completion Date to acquire a commercial licence of the Project IP on the terms of the Commercial Licence set out
in Annexure 2. 
  

	7.2	 Exercise of option for Project IP 

  

	(a)	 The Collaborator may exercise the Option in respect of the Project IP at any time during the Term or on or before the date six months after the
Completion Date (“Option Period”) by: 

  

	 	(i)	 giving written notice to NSi; 

  

	 	(ii)	 providing the names of [ * ] Applications; 

  

	(b)	 Upon NSi’s receipt of the Collaborator’s written notice, and the Application names in accordance with clause 7.2(a), NSi will:

  

	 	(i)	 update the Commercial Licence Schedule to reflect the Application names and the details of the Licensed IP, 

 

	 	(ii)	 provide the Collaborator with two originals of the Commercial Licence duly executed by NSi. 

 

	7.3	 Option for ARC Project IP Applications 

Should the parties enter into an ARC Linkage Agreement, they agree, and NSi will procure UNSW to agree, that the
Collaborator will be granted an option which will provide: 

  
 9. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	 	(i)	 where the Option Period under clause 7.2 has not expired and the Collaborator has not exercised that Option, that the Collaborator may nominate any
Application arising out of the ARC Project IP as [ * ] Applications under clause 7.2 (a)(ii); 

  

	 	(ii)	 where the Option under clause 7.2 has been exercised, provided the Collaborator is not in breach of any of the terms of the ARC Linkage Agreement,
that the Collaborator may substitute any Application arising out of the ARC Project IP in accordance with the provisions of the Commercial Licence. 

  

	8.	 PROSECUTION AND MAINTENANCE OF PATENTS 

 
  

	8.1	 Prosecution and Maintenance 

 Subject to clause 8.3, NSi must, to the extent commercially and legally reasonable in accordance with the advice available to it, use reasonable and timely efforts in consultation with the Collaborator
to: 
  

	 	(a)	 prosecute all Patents and other applications for statutory protection of the Project IP; and 

 

	 	(b)	 maintain all Patents and other rights granted on those applications. 

 

	8.2	 Assistance in Prosecution 

  

	 	(a)	 NSi and the Collaborator must render all reasonable non-monetary assistance to each other in relation to the prosecution and maintenance of the
Patents. 

  

	 	(b)	 At the Collaborator’s written request, NSi will advise the Collaborator about the current status of the Patents. 

 

	8.3	 Costs of Patents 

  

	 	(a)	 Subject to clause 8.3(b), the Collaborator must pay or reimburse NSi (at NSi’s option) all Patent Costs incurred by or on behalf of NSi in any
country in the Territory approved by the Collaborator in writing. 

  

	 	(b)	 The Collaborator is only required to pay or reimburse NSi (at NSi’s option) [ * ] of all Patent Costs incurred by or on behalf of NSi for any
licensed NSi Background IP [ * ]. 

  

	 	(c)	 The Collaborator must give to NSi at least [ * ] written notice if it does not wish to continue payment of Patent Costs with respect to any Patents
in any country in the Territory, in which case NSi may, at its sole discretion: 

  

	 	(i)	 cease prosecution of that Patent or allow it to lapse in that country; or 

 

	 	(ii)	 prosecute or maintain such Licensed IP in that country at its own cost, and 

 

	 	(d)	 From the date the Licensee’s notice under clause 8.3(c) becomes effective the option to any licence(s) under this Agreement for the relevant
Licensed IP in that country will terminate and the Licensee will have no obligation to pay any Registration Costs incurred after that date in respect of such Licensed IP in that country under clause 8.3(a). 

  
 10.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	9.	 CONFIDENTIAL INFORMATION 

 
  

	9.1	 Permitted use 

 Each party may use and disclose the Confidential Information of the other party solely to the extent necessary for the performance of the Services in accordance with this Agreement. Subject to clause
9.2(c), the Collaborator acknowledges and agrees that NSi may disclose Confidential Information of the Collaborator to UNSW and UNSW Personnel for the purpose of performing the Services in accordance with this Agreement. 

 

	9.2	 Obligations of confidentiality 

 Subject to clause 9.1, each party must: 
  

	(a)	 not use, and ensure that its employees, officers and agents (and in the case of NSi, UNSW, UNSW Personnel, Students and contractors) do not use, any
Confidential Information of the other party for any purpose other than compliance with its obligations under this Agreement; 

  

	(b)	 take all action necessary to maintain the confidential nature of the Confidential Information of the other party, including keeping all records of
that Confidential Information under lock and key or password protection; 

  

	(c)	 not disclose any of the Confidential Information of the other party to any person other than those of its employees (and in the case of NSi, UNSW,
UNSW Personnel, Students and contractors) who need to have access to that Confidential Information for the purpose of performing the Services in accordance with this Agreement, who are aware of the requirements of this Agreement, and who are bound
by an enforceable obligation of confidentiality; and 

  

	(d)	 destroy all documents and other materials in whatever form in its possession, power or control which contain or refer to any Confidential
Information of the other party, on the earlier of expiry or termination of this Agreement, demand by the other party or the time they are no longer required for the purpose of performing the Services in accordance with this Agreement.

  

	9.3	 Disclosure required by law 

 Each party may disclose Confidential Information of the other party if legally compelled to do so by a judicial or administrative body provided it takes all reasonably available legal measures to avoid
such disclosure, and notifies the other party as soon as practicable after such disclosure is ordered so that the other party may seek an appropriate protective order or other remedy. 

 

	9.4	 Acknowledgement 

 Each party acknowledges that due to the proprietary and competitively-sensitive nature of the Confidential Information of the other party, the other party would be irreparably harmed by any actual or
threatened breach of this clause 9, and that monetary damages would be insufficient to remedy such actual or threatened breach. 
  

	9.5	 No restriction 

 Subject to this clause 9, nothing in this Agreement restricts the right of NSi to provide consultancy, research or other services to any third party. 

  
 11.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	10.	 PUBLICATIONS 

 
  

	10.1	 Publication of Papers 

 A party must not publish any Paper without the prior written consent of the other party. Where a party wishes to obtain the other party’s consent for the publication of a Paper: 

 

	(a)	 the party must provide to the other party a copy of the proposed Paper at least [ * ] prior to the proposed date of publication (or submission for
publication where applicable); 

  

	(b)	 the other party may within [ * ] of receipt of a proposed Paper reasonably object to or request a delay of the publication of the Paper in whole or
in part providing reasons, in which case the party must not publish, or must delay the publication of, the Paper (as applicable). If the other party fails to object or request a delay within this period, the other party will be deemed to have
consented to the publication of the Paper; and 

  

	(c)	 a party must not unreasonably withhold its consent to the publication of a Paper, provided that it may withhold consent if it reasonably believes
the publication will adversely affect the protection or commercialisation of any Background IP or Project IP owned by it. 

  

	10.2	 Acknowledgements 

 Each party must acknowledge the role of the other party in any Paper, and each party must, where any significant advice or recommendations have been provided by an employee of the other party,
appropriately acknowledge the authorship of that person, in each case in accordance with usual academic practice. 
  

	10.3	 Press releases 

 Neither party may use the other party’s name in any press release, advertising or other promotional material without the other party’s prior written consent (which consent must not unreasonably
be withheld). 
  

	11.	 PRIVACY 

 
 Each party agrees
to comply with the Privacy Act 1988 (Cth) in its dealings with the other party. In particular, each party warrants that it has made all necessary disclosures and obtained all consents required under that Act in respect of personal information
given to or accessed by the other party in connection with this Agreement. 
  

	12.	 LIABILITY AND INDEMNITY 

 
  

	12.1	 Prescribed terms 

  

	(a)	 Subject to any terms, conditions and warranties which the law expressly provides may not be excluded, restricted or modified, or may be excluded,
restricted or modified only to a limited extent (Prescribed Terms), all conditions, warranties, terms and obligations expressed or implied by law or otherwise relating to the performance of a party’s obligations, or any goods or services
supplied or to be supplied by a party, under this Agreement are excluded. 

  

	(b)	 To the extent permitted by law, the liability of a party for a breach of a Prescribed Term implied into this Agreement is limited, at that
party’s option, to the repair or replacement of the goods, the cost of repairing or replacing the goods, the re-supply of the services or the payment of the cost of re-supplying the services. 

  
 12.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	12.2	 Consequential loss 

 To the extent permitted by law, a party will have no liability to the other party, however arising and under any cause of action or theory of liability, in respect of special, indirect or consequential
damages, loss of profit (whether direct or indirect) or loss of business opportunity arising out of or in connection with this Agreement. 
  

	12.3	 Indemnity 

 Each party (the Indemnifying Party) releases and indemnifies the other party and its officers, employees, consultants and agents from and against all actions, claims, proceedings and demands
(including those brought by third parties) which may be brought against it or them, whether on their own or jointly with the Indemnifying Party and whether at common law, under tort (including negligence), in equity, pursuant to statute or
otherwise, in respect of any loss, death, injury, illness or damage (whether personal or property, and whether direct or consequential, including consequential financial loss), arising out of: 

 

	(a)	 a breach of any provision of this Agreement by the Indemnifying Party; or 

 

	(b)	 any negligent act or omission or wilful misconduct of the Indemnifying Party or its officers, employees, consultants or agents,

 and from and against all damages, reasonable costs and expenses incurred in defending,
satisfying or settling any such claim, proceeding or demand, except to the extent such action, claim, proceeding or demand arose out of a breach of any provision of this Agreement by the other party or any negligent act or omission or wilful
misconduct of the other party or its officers, employees, consultants or agents. 
  

	12.4	 Insurance 

 Each party must during the Term at its cost take out and maintain all necessary or prudent insurances in relation to this Agreement, including the insurances specified in the Schedule (if any). Each party
must on request by the other party provide written evidence of such insurances, including certificates of currency from the insurer. 
  

	12.5	 Cap on liability 

  

	(a)	 Notwithstanding any other provisions of this Agreement, to the extent permitted by law the total aggregate liability of NSi arising out of or in
connection with the Services, the Project, the Project IP or this Agreement, whether based upon breach of contract, under common law, statute, tort (including negligence) or otherwise, will not exceed the amount of Fees received by NSi from the
Collaborator under this Agreement. 

  

	12.6	 Representations 

 The Collaborator acknowledges that it has not relied on any representations made by or on behalf of NSi or its contractors (including UNSW and UNSW Personnel) which are not expressly set out in this
Agreement. 

  
 13.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	13.	 TERM AND TERMINATION 

 
  

	13.1	 Term 

  

	(a)	 Unless otherwise agreed by the parties in writing, this Agreement commences on the Commencement Date and continues in force until the Completion
Date unless it is terminated earlier in accordance with its terms. 

  

	(b)	 The parties acknowledge that further development of the Project IP may be required following the Completion Date (“Further Work”) and
agree that the work will be undertaken: 

  

	 	(i)	 by the parties agreeing in writing to amend the Schedule; 

 

	 	(ii)	 under the same terms and conditions as this Agreement except for clause 7; and 

 

	 	(iii)	 provided the Collaborator is not in breach (other than a trivial breach causing no material harm) of any of the terms of the Agreement, the
Collaborator may substitute any Application arising out of the Further Work under the provisions of clause 13 of the Commercial Licence. 

  

	13.2	 Termination 

 Either party may terminate this Agreement immediately by giving written notice to the other party if at any time: 
  

	(a)	 the other party commits a breach (other than a trivial breach causing no material harm) of any provision of this Agreement and, where the breach is
capable of remedy, fails to remedy the breach within [ * ] of receiving written notice to do so; or 

  

	(b)	 the other party becomes insolvent, enters into liquidation or receivership, becomes subject to any form of external administration, makes a
composition or arrangement with its creditors generally, or takes advantage of any statute for the relief of insolvent debtors. 

  

	13.3	 Consequences of termination 

 Upon termination or expiry of this Agreement for any reason: 
  

	(a)	 all Fees paid remain the property of NSi; and 

  

	(b)	 the Collaborator must immediately pay to NSi all Fees accrued or due but unpaid, and all amounts incurred or committed to by or on behalf of NSi
with respect to the Project, as at the date of such termination or expiry without recourse, discount, set-off or reimbursement of any kind. 

  

	13.4	 Survival 

  

	(a)	 Clauses 2.6, 3.2, 4.2, 6, 7, 8, 9, 10, 12, 13.3 and 15 survive the expiry or termination of this Agreement for any reason.

  

	14.	 FORCE MAJEURE 

 
 If Force Majeure
prevents a party from fully or partly performing any obligation under this Agreement (except an obligation to pay money), the affected party’s obligation to perform that obligation is suspended while the Force Majeure continues. 

  
 14.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	15.	 DISPUTE RESOLUTION 

 
  

	15.1	 No proceedings 

 If a dispute arises out of or in connection with this Agreement (Dispute), no party may start court or arbitration proceedings (except proceedings seeking urgent interlocutory relief) unless it has
complied with this clause 15. 
  

	15.2	 Dispute resolution 

  

	(a)	 A party claiming that a Dispute has arisen must give written notice to the other party giving details of the Dispute (Notification).

  

	(b)	 Within [ * ] (or any longer period agreed by the parties) of receipt by the other party of a Notification, the Chief Executive Officers (or
equivalent) of each party must personally or through a nominee attempt in good faith to resolve the Dispute, failing which the parties must seek to agree on an alternative dispute resolution technique to resolve the Dispute.

  

	(c)	 If the parties fail to agree on the dispute resolution technique to be used within a further [ * ] (or any longer period agreed by the parties), the
Dispute will be referred to mediation by, and in accordance with the rules of, the Australian Commercial Disputes Centre Limited. The mediation will be conducted in Sydney in the English language. 

 

	(d)	 The parties must continue to perform their respective obligations under this Agreement pending the resolution of a Dispute.

  

	(e)	 Each party must bear its own costs of complying with this clause 15. 

 

	16.	 GENERAL 

 
  

	(a)	 This Agreement contains the entire agreement between the parties as to its subject matter and may only be amended in writing signed by all parties.

  

	(b)	 Notices must be given to the parties’ addresses set out at the front of this Agreement or as otherwise notified by the parties in writing and
must be delivered in person or sent by email, fax or prepaid post (airmail if international). Notices will be deemed to have been received: 

  

	 	(i)	 if delivered in person, on the date of delivery; 

  

	 	(ii)	 if sent by email, on receipt by the sender of an acknowledgment indicating that the mail item was read by the recipient;

  

	 	(iii)	 if sent by fax, on production of a transmission report from the sender’s fax machine evidencing that the fax was successfully sent in its
entirety; or 

  

	 	(iv)	 if sent by prepaid post, 3 business days after posting (7 business days if sent to or from a place outside of Australia).

  

	(c)	 A party must not assign any of its rights or obligations under this Agreement without the other party’s prior written consent.

  

	(d)	 No delay or indulgence by a party in enforcing this Agreement will prejudice or restrict the rights of that party, nor will a waiver of those rights
operate as a waiver of a subsequent breach. 

  
 15.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

	(e)	 No part of this Agreement is to be construed to the disadvantage of a party because that party was responsible for its preparation.

  

	(f)	 Nothing in this Agreement may be construed as creating a relationship of partnership, joint venture employment, principal and agent or trustee and
beneficiary. 

  

	(g)	 A party, at the request of another party, must do all things and sign all documents necessary to give effect to this Agreement.

  

	(h)	 If any provision of this Agreement is or becomes invalid or unenforceable then, if the provision can be read down to make it valid and enforceable
without materially changing its effect, it must be read down, and otherwise the offending provision must be severed and the remaining provisions will operate as if the provision had not been included. 

 

	(i)	 This Agreement is governed by the laws of New South Wales, Australia, and the parties submit to the non-exclusive jurisdiction of the courts of that
State. 

  

	(j)	 Each signatory to this Agreement warrants that he or she has authority to bind the party that he or she is stated to represent.

  

	(k)	 This Agreement may be executed in any number of counterparts all of which taken together will constitute one agreement.

  
 16.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

 SCHEDULE 
 Key Project Terms 
  

			
		
	 Commencement Date
	  	January 1st, 2010
		
	 Completion Date
	  	12 months from Commencement Date
		
	 Services
	  	 As specified in the Research Plan
  

NB: The Services are activities, not guaranteed outcomes

		
	 Project Director
	  	[ * ]
		
	 Other Key Personnel

(UNSW)
	  	To be added as necessary and/or as agreed by the parties
		
	 Collaborator Personnel
	  	N/A

																	
					
	Fees & Payment	  	    Research Budget	  		  				  	
						
	  	  	 	  	 	 	  	 Description
	  	Cost AUD$	 	  	 
		  		  	 	1.	  	  	Personnel1	  	$	[ * ]	  	  	
		  		  	 	2.	  	  	Operating expenses	  	$	[ * ]	  	  	
		  		  	 	3.	  	  	Characterisation	  	$	[ * ]	  	  	
		  		  	 	4.	  	  	Consumables	  	$	[ * ]	  	  	
		  		  				  		  		  	  
	  
	 	  	
		  		  				  	        TOTAL	  	$	[ * ]	  	  	
		  		  				  		  		  	  
	  
	 	  	
		  	 1         [ * ]
	             
	  	
			
		  	 NSi and Collaborator may review and update Research Budget from time to time
	  	  	
			
		  	Payment Schedule	  	  	
			
		  	 Fees are payable as follows:
	  	  	
			
		  	 All rates are exclusive of GST. NSi may review and update time and materials rates (if any) for a calendar year from time to time by giving at
least [ * ] written notice prior to the beginning of the relevant calendar quarter.
	        	  	
			
		  	 NSi will invoice the Collaborator for the Fees in advance at the start of each calendar quarter.
	  	  	
					
	 	  	 	  	   Total Fee	  	 AUD$ [ * ]
	 	  	 
		  		  	 	First Payment (for 1st Qtr)	  	$[ * ], due upon execution of this Agreement.	  	  	
		  		  	 	Second Payment (for 2nd Qtr)	  	$[ * ]	  				  	
		  		  	 	Third Payment (for 3rd Qtr)	  	$[ * ]	  				  	
		  		  	 	Fourth Payment (for 4th Qtr)	  	$[ * ]	  				  	

  
 17.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

					
	 Background IP
	  	 To be inserted during the course of the CRA by mutual agreement between the parties

		  	NSi’s Background IP:
		  	 1.
	  	 [ * ]

		  	Collaborator’s Background IP:
		  	 1.
	  	 [ * ]

		  	 2.
	  	
		  	 3.
	  	
	 Insurance
	  	 Each party must during the Term at its cost take out and maintain all necessary or prudent insurances in relation to this Agreement, including the
insurances specified in the Schedule (if any). Each party must on request by the other party provide written evidence of such insurances, including certificates of currency from the insurer

	 Territory
	  	 Worldwide

  
 18.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

 Executed as an agreement. 

 

					
	 Signed for an on behalf of

NEWSOUTH INNOVATIONS PTY LIMITED
	 		 	
			
	 	 		 	/s/ Mark T. Bennett
		 		 	Signature of Authorised Officer
			
	 	 		 	 Mark T. Bennett, CEO
 Print
Name

			
	 	 		 	 17/12/2009

Date

  

					
	 Signed for an on behalf of

Prima Biomed Limited
	 		 	
			
	 	 		 	/s/ Martin Rogers
		 		 	Signature of Authorised Officer
			
	 	 		 	 Martin Rogers
 Print
Name

			
	 	 		 	 17-12-2009

Date

  
 19.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

 Annexure 1 - Research Plan 

The project will be undertaken [ * ]. 
 Stage 1 – [ * ] 
 [ * ] 
 Stage 2 – [ * ] 
 [ * ] 
 Stage 3 – [ * ] 
 [ * ] 
 Proposed Methodology Timelines [ * ] 
  

	1.	 Deliverables 

  

					
	 	  	 Description:
	  	 Estimated Date:

	1.	  	[ * ]	  	[ * ]
	2.	  	[ * ]	  	[ * ]
	3.	  	[ * ]	  	[ * ]

  

	2.	 Collaborator Duties 

  

					
		  	Collaborator Personnel	  	
	1.	  	N/A	  	
		  	Description of Collaborator Materials and Collaborator Duties:	  	Delivery Date:
	1.	  	[ * ]	  	

  
 1. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Collaborative Research Agreement 

 
  

 Annexure 2 - Commercial Licence 

  
 [ * ] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED. 

 

 
 ANNEXURE 2 - to the Collaborative Research Agreement dated 

17 December 2009 
 COMMERCIAL LICENCE AGREEMENT 
 NewSouth Innovations Pty Limited

 (ABN 25 000 263 025) 
 and 
 Prima Biomed Limited 

ACN 009 237 889 

387676_2 
 Rupert
Myers Building I Gate 14, Barker Street I UNSW SYDNEY NSW 2052 
 www.nsinnovations.com.au I enquiries@nsinnovations.com.au

 T +61 2 9385 5008 I F +61 2 9385 6600 
 Reference: [09_2348] 

  
 [ * ] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED. 

 Commercial Licence Agreement 

 
  

 Table of Contents 

 

							
	1.	  	DEFINITIONS AND INTERPRETATION	  	 	1	  
	2.	  	LICENCE	  	 	7	  
	3.	  	SUB-LICENCES	  	 	8	  
	4.	  	Exploitation BY NSI	  	 	9	  
	5.	  	PAYMENTS	  	 	11	  
	6.	  	TAXES	  	 	13	  
	7.	  	ACCOUNTS	  	 	13	  
	8.	  	PROSECUTION AND MAINTENANCE OF PATENTS	  	 	15	  
	9.	  	[ * ]	  	 	16	  
	10.	  	EXPLOITATION BY LICENSEE	  	 	16	  
	11.	  	PRODUCTS	  	 	17	  
	12.	  	Not Used	  	 	19	  
	13.	  	Application Substitution	  	 	19	  
	14.	  	CONFIDENTIAL INFORMATION	  	 	20	  
	15.	  	MEDIA AND PUBLICATIONS	  	 	21	  
	16.	  	INFRINGEMENT AND ENFORCEMENT	  	 	22	  
	17.	  	WARRANTIES	  	 	23	  
	18.	  	LIABILITY	  	 	25	  
	19.	  	TERM AND TERMINATION	  	 	27	  
	20.	  	FORCE MAJEURE	  	 	28	  
	21.	  	DISPUTE RESOLUTION	  	 	29	  
	22.	  	GENERAL	  	 	30	  

  
 [ * ] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS
AMENDED. 

 Commercial Licence Agreement 

 
  

			
	DATE OF AGREEMENT	  	
	PARTIES	  	 NewSouth Innovations Pty Limited ABN 25 000 263 025 (NSi)

 
 Rupert Myers Building, Gate 14 Barker Street, UNSW, Sydney, NSW 2052,
Australia
  

Contact:        Chief Executive Officer

Phone:           +61 2 9385
6527

Fax:               +61
2 9385 6502

		
		  	 Prima Biomed Limited ACN 009 237 889 (Licensee)

 
 Suite 1, 1233 High Street Armadale, 3143 , Victoria

 
 Contact:        Martin Rogers, Executive
Director
 Phone:           +61 3
9824 5254

Fax:               +61
3 9822 7735
 Mobile:         +61 (0)428
268 357

Email:           
martin.rogers@primabiormed.com.au

 BACKGROUND: 
  

	A.	 NSi is the owner of or otherwise authorised to use certain Intellectual Property. 

 

	B.	 The Licensee’s principal activities include research and commercialisation of licensed medical biotechnology. It has engaged NSi to undertake
certain collaborative research to develop formulations for a number of Applications of NSi’s sub-critical water and dense gas technology for controlled polymer nanoarchitecture vaccine delivery formulations. 

 

	C.	 The Licensee wishes to be granted licences to Exploit those formulations within the Territory. 

 

	D.	 NSi agrees to grant to the Licensee, and the Licensee agrees to accept, a licence to Exploit the Licensed IP, and the parties agree to accept
certain other rights and obligations, on the terms and conditions of this Agreement. 

 THE PARTIES AGREE: 

 

	1.	 DEFINITIONS AND INTERPRETATION 

 
  

	1.1	 Definitions 

 In this Agreement, unless the context otherwise requires: 

Affiliate means any person who, directly or indirectly, Controls, is Controlled by or is under common Control with
a party. 
 Application(s) means an application of [ * ] identified in the Commercialisation Plan in
Annexure 1, as may be modified from time to time by substituting a New Application in accordance with clause 13. 

Application Commercialisation Plan means the plan for the Exploitation of each Application within the Territory and
in the Field attached to this Agreement as Annexure 1. 

  
 1. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 Background IP means Intellectual Property rights including Know
How owned by or licensed to NSi as at the Commencement Date or during the Term, which NSi has the right to license to third parties, which is necessary for the Exploitation of the Licensed IP and which are specified in the Schedule. 

Business Day means a day that is not a Saturday, a Sunday nor a public holiday in the principal place of business
of a party. 
 Collaborative Research Agreement means an agreement entered into by the parties to conduct
a proof of concept Project in relation to the First Application. 
 Commencement Date means the
commencement date specified in the Schedule, or if no date is specified in the Schedule, the date of last execution of this Agreement. 
 Commercialisation Milestone and Commercialisation Milestone Date have the meanings ascribed to them in the Schedule and set out in the Application Commercialisation Plan. 

Commercialisation Start Date means the date specified in Annexure 1. 

Confidential Information means all know how, Intellectual Property, business, financial, technical and other
commercially valuable or sensitive information of a party in whatever form, including inventions (whether or not reduced to practice), trade secrets, methodologies, formulae, graphs, drawings, samples, biological materials, devices, models, business
plans, policies and any other materials or information which a party regards as confidential, proprietary or of a commercially sensitive nature that may be in the possession of that party or its Affiliates or its or their employees or officers,
including the terms of this Agreement and including, in the case of NSi, all information in or relating to the Licensed IP, in each case whether disclosed visually, orally, in writing or by electronic means, directly or indirectly by a party
(including by an Affiliate) and whether disclosed before or after the Commencement Date, but excluding information which: 
  

	 	(a)	 is now in the public domain, or enters the public domain after the Commencement Date, through no fault of the recipient;

  

	 	(b)	 can be shown by contemporaneous records of the recipient to have been known to the recipient at the time it is received pursuant to this Agreement;

  

	 	(c)	 is provided to the recipient by a third party after the Commencement Date, lawfully and without violating any restriction on its disclosure; or

  

	 	(d)	 can be shown by contemporaneous records of the recipient to have been independently developed by the recipient without reference to the Confidential
Information of the other party. 

 Information is not to be considered to be in the public
domain for the purposes of this Agreement unless it is lawfully available to the general public from a single source without restriction on its use or disclosure. 

Control means: 
  

	 	(a)	 the ability to cast or control the casting of more than 50% of the maximum number of votes that might be cast at any general meeting (or equivalent)
of an entity; 

  

	 	(b)	 the holding of more than 50% of the issued ordinary share capital, the equity, or other ownership interest, in the entity, or if a holding of more
than 50% is not permitted in the 

  
 2. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	 
country where the entity exists, the holding of the maximum ownership interest permitted in the country where the entity exists; or 

 

	 	(c)	 the ability of a person or persons to direct, or share equally in the direction of, the composition of the board of directors (or equivalent) of the
entity, or to manage the entity pursuant to an agreement. 

 Exploit means: 

 

	 	(a)	 in relation to an Intellectual Property right, the exercise of all the rights exclusively granted to the holder of such Intellectual Property rights
by the laws of the jurisdiction in which the Intellectual Property right subsists, including where permitted under this Agreement the right to sub-license those rights; 

 

	 	(b)	 in relation to a product, kit, apparatus, substance, documentation or information resource (or any part of such materials), to make, distribute,
market, sell, hire out, lease, supply, or otherwise dispose of it; and 

  

	 	(c)	 in relation to a method or process, to use the method or process or to make, distribute, market, sell, hire out, lease, supply, or otherwise dispose
of a product, kit or apparatus the use of which is proposed or intended to involve the exercise of the method or process, 

 and Exploitation will be similarly construed. 
 Field
means the field specified in the Schedule. 
 First Application means the First Application described in
Applications Commercialisation Plan in Annexure 1. 
 First Commercial Sale means the first sale of a
Product by the Licensee or Sub-licensee. 
 Further Applications means the Applications listed in the
Applications Commercialisation Plan other than the First Application. 
 Force Majeure means any act,
event or cause (other than lack of funds) which is beyond the reasonable control of the affected party. 

GST means the tax imposed by the A New Tax System (Goods and Services Tax) Act 1999 (Cth) and any related
tax imposition Acts of the Commonwealth of Australia. 
 Insolvency Event means circumstances in which a
party: 
  

	 	(a)	 is unable to pay its debts as they fall due; 

  

	 	(b)	 makes or commences negotiations with a view to making, a general re-scheduling of its indebtedness or a general assignment, scheme of arrangement or
composition with its creditors; 

  

	 	(c)	 takes any corporate action or any steps are taken or legal proceedings are started for: 

 

	 	(i)	 its winding-up, dissolution, liquidation, or re-organisation, other than to reconstruct or amalgamate while solvent on terms approved by the other
party (which approval will not be unreasonably withheld); or 

  
 3. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(ii)	 the appointment of a controller, receiver, administrator, official manager, trustee or similar officer of it or of any of its revenues and assets;
or 

  

	 	(d)	 seeks or is granted protection from its creditors, under any applicable legislation. 

Intellectual Property means statutory and other proprietary rights in respect of copyright and neighbouring rights,
all rights in relation to inventions, patents, plant varieties, registered and unregistered trademarks, registered and unregistered designs, circuit layouts and rights to require information to be kept confidential, and all other rights as defined
by Article 2 of the Convention establishing the World Intellectual Property Organization of July 1967, and all rights to apply for any of the above, but does not include moral rights that are not transferable. 

Know-how means all unpatented technical and other information not in the public domain including inventions,
discoveries, concepts, data, formulae, ideas, specifications, procedures and results for experiments and tests, experimentation and testing, and results of research and development, including laboratory records, clinical trial data, case reports,
data analysis and summaries, and information in submissions to and information from ethics committees and regulatory bodies, relating to the inventions the subject of the Patents included within the Licensed IP in accordance with this Agreement,
including the know-how specified in the Schedule. 
 Licence Fees means the licence fees payable by the
Licensee to NSi under clause 5.1(a), as specified in the Schedule. 
 Licensed IP means: 

 

	 	(a)	 the Patents; 

  

	 	(b)	 Project IP 

  

	 	(c)	 the Other Statutory Rights; and 

  

	 	(d)	 the Background IP. 

 as set out in the Schedule. 
 Milestone means the Milestones
for the payment of Licence Fees described in the Schedule. 
 Minimum Performance Obligations means the
minimum performance obligations specified in the Schedule. 
 Net Revenue means all revenue actually
received by NSi from its Exploitation of the Project IP (less Taxes, rebates, refunds and amounts received in consideration for the conduct of research or the provision of services), excluding revenue received from Licensee, after its costs of
Exploitation of the relevant Intellectual Property Rights have been deducted, including but not limited to the costs of protecting Intellectual Property Rights, enforcing the Intellectual Property Rights, the creation of prototypes, models and
samples, research and development, contractual and other liabilities, transportation, insurance, obtaining legal, financial and technical advice, repayments of investments, internal staff costs, accommodation, marketing and travel, and other like
expenses. 
 Net Sales means the gross invoiced price for all Sales of Products by or on behalf the
Licensee or its Affiliates or Sub-licensees in an arms’ length bona fide commercial transaction, less only 

  
 4. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 
usual arms’ length trade discounts and rebates actually given or allowed [ * ], customs duties, transportation and insurance charges, and all Taxes incurred on such Sales. 

New Application means a new application of a nanoarchitecture vaccine delivery formulation to be added to the
Schedule as a substitute for a Further Application in accordance with Clause 13. 
 Option means the
option referred to in clause 13. 
 Other Statutory Rights means all Intellectual Property rights other
than the Patents, subsisting in or relating to the inventions the subject of the Patents, included within the Licensed IP in accordance with this Agreement, including copyright and design rights. 

Paper means any manuscript, abstract, paper, journal article, student thesis or content of any oral, poster or
other presentation containing or referring to the Licensed IP or the Products. 
 Patents means:

  

	 	(a)	 the patents and patent applications described in the Schedule; 

 

	 	(b)	 all patent applications that may be filed by or on behalf of NSi which are based on, claim priority from, are divided from or are continuations of
any patent application described in the Schedule; 

  

	 	(c)	 all patents which may be granted pursuant to any of the patent applications referred to in paragraphs (a) or (b); and

 Product means the entire assembly of components constituting any product, kit,
apparatus, substance, documentation, information resource or service arising from the Exploitation of the Licensed IP in the Application, including all products and services whose research, development, manufacture, import, marketing, use, sale, or
supply applies, utilises or incorporates any part of the Licensed IP. 
 Project means the Project
contemplated under the Collaborative Research Agreement 
 Project IP means all Intellectual Property
created, conceived, developed or reduced to practice in the course of the Project and the subject of the Collaborative Research Agreement. 
 Registration Costs means fees, costs and expenses (including patent attorney, legal fees and expenses and external patent management fees and government charges) incurred after the Commencement
Date, in the obtaining of grants of the Patents or other formal Intellectual Property rights forming part of the Licensed IP in the Territory and maintaining the same, and includes all expenses incurred in making and prosecuting patent applications
and dealing with any opposition to any application for such registrations, any challenge to the validity of any such registrations, and action taken in relation to infringement of Patents or such other Intellectual Property. 

Regulatory Approval means regulatory approval of a United States Food and Drug Administration New Drug Application
or its equivalent in the country to which a regulatory approval milestone applies. 
 Royalty means the
royalty payable by the Licensee to NSi under clause 5.1(b), as specified in the Schedule. 
 Royalty
Period means the royalty period specified in the Schedule. 

  
 5. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 Sale means any sale, transfer, rental, lease, hiring out,
distribution, commercial supply or other disposal of Products by or on behalf of a party or its Affiliates or Sub-licensees. 
 and Sell and Sold will be similarly construed. 

Schedule means the schedule attached this agreement as may be revised from time to time to include Project IP and
New Applications. 
 Sub-licensee means a person (including an Affiliate of a party) with whom a party
enters into an arrangement for the Exploitation of the Licensed IP within the Territory and in, and in the case of NSi outside, the Field as a permitted sub-licensee, subcontractor or assignee. 

Sub-licence Fees means the sub-licensee fees payable by the Licensee to NSi under clause 5.1(a) and as
specified in the Schedule. 
 Taxes means all applicable taxes (including GST), levies, duties, charges,
deductions and withholdings and similar imposts imposed by law or by any government agency, other than imposts charged on net income. 
 Term means the term of this Agreement specified in the Schedule. 
 Territory means the territory specified in the Schedule. 

UNSW means the University of New South Wales (ABN 57 195 873 179). 

 

	1.2	 Interpretation 

 In this Agreement, unless the context requires otherwise: 
  

	 	(a)	 headings are for convenience only and do not affect interpretation; 

 

	 	(b)	 the singular includes the plural and conversely, and a gender includes all genders; 

 

	 	(c)	 a reference to a clause, schedule or annexure is a reference to a clause of or schedule or annexure to this Agreement and references to this
Agreement include any background recital, schedule and annexure; 

  

	 	(d)	 a reference to a thing (including a right) includes a reference to a part of that thing; 

 

	 	(e)	 a reference to a document includes the document as modified from time to time and any document replacing it; 

 

	 	(f)	 the word “person” includes a natural person and any body or entity whether incorporated or not; 

 

	 	(g)	 a reference to “written” or “in writing” includes any communication sent by letter, [email] or facsimile transmission;

  

	 	(h)	 a reference to any statute, proclamation, rule, regulation or ordinance includes any amendment, consolidation, modification, re-enactment or reprint
of it and any statute, proclamation, rule, regulation or ordinance replacing it. A reference to a specified section, clause, paragraph, schedule or item of any statue, proclamation, rule, regulation or

  
 6. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	 
ordinance means a reference to the equivalent section of the statue, proclamation, rule, regulation or ordinance which is for the time being in force; 

 

	 	(i)	 a reference to law includes laws, acts, ordinances, rules, regulations, other delegated legislation, codes and the requirements and directions of
any relevant government or quasi-government department, body or authority in force from time to time (including any stock exchange); 

  

	 	(j)	 wherever “include” or any form of that word is used it must be construed as it were followed by “(without limitation)”;

  

	 	(k)	 a reference to any agency or body, if that agency or body ceases to exist or is reconstituted, renamed or replaced or has its powers or functions
removed (defunct body), means the agency or body which performs most closely the functions of the defunct body; and 

  

	 	(l)	 money amounts are stated in the lawful currency of Australia unless otherwise specified. 

 

	2.	 LICENCE 

  

	2.1	 Grant of licence 

 Subject to the provisions of clause 10, NSi grants to the Licensee during the Term: 
  

	 	(a)	 separate exclusive, non-transferable licences: 

  

	 	(i)	 under the Patents; 

  

	 	(ii)	 the Project IP; 

  

	 	(iii)	 under the Other Statutory Rights; and 

 (b) a separate non-exclusive, non-transferable licence under the Background IP, 
 for each Application to Exploit the Products in the Territory within the Field, including the right to sub-license as permitted in this Agreement. 

 

	2.2	 [ * ] 

 [ * ] may [ * ] where necessary to comply with the legal requirements of any country, including for the [ * ] or to [ * ], or where necessary to [ * ]. 

 

	2.3	 Transfer of rights 

 Subject to clause 3, the licences under this Agreement are personal to the Licensee and the Licensee must not assign, transfer or in any way charge, mortgage or deal with any of its rights or obligations
under this Agreement without NSi’s prior written consent. Nothing in this Agreement restricts the right of NSi to assign any of its rights, obligations or liabilities under this Agreement. 

 

	2.4	 Licensee’s acknowledgments 

 The Licensee acknowledges that: 

  
 7. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(a)	 this Agreement does not confer and the Licensee does not acquire any right, title or interest in the Licensed IP other than as expressly set out
in-this Agreement; 

  

	 	(b)	 as between the parties, NSi is the owner of the Licensed IP; 

 

	 	(c)	 to the extent permitted by law, the Licensee may not Exploit the Licensed IP or any Products outside the Territory or the Field or knowingly supply
any Products to any person for resupply outside the Territory or the Field; and 

  

	 	(d)	 subject to clause 4, NSi reserves all rights in and to the Licensed IP outside and within the Field and may Exploit or license others to Exploit the
Licensed IP and the Products outside and within the Field as it sees fit, except in relation to the Applications licensed under this Agreement. 

  

	2.5	 Disclosure of the Licensed IP and technical assistance 

 

	 	(a)	 Following the Commencement Date, to the extent it has not already done so, NSi must disclose to the Licensee details of the Licensed IP.

  

	 	(b)	 NSi may, subject to payment in accordance with its usual consulting rates and on its standard consulting terms and conditions from time to time,
provide the Licensee with technical assistance and consultancy services reasonably requested by the Licensee in relation to the Exploitation of the Licensed IP and the Products. 

 

	2.6	 Research by UNSW 

 Despite anything else in this Agreement, the Licensee acknowledges and agrees that NSi retains the right to use the Licensed IP for education and research purposes within the Territory and the Field
including the right to sub-license the Licensed IP to UNSW and UNSW personnel solely for this purpose. 
  

	3.	 SUB-LICENCES 

 
  

	3.1	 Sub-licences 

 Subject to payment of all Sub-licence Fees and clause 3.2, the Licensee may by written agreement grant sub-licences to Exploit the Licensed IP (not including the right to sub-license) with respect to an
Application within the Territory in the Field: 
  

	 	(a)	 to its Affiliates without the consent of NSi, provided that the Licensee must provide to NSi a copy of any agreement effecting any such sub-licence
within [ * ] of its execution; and 

  

	 	(b)	 to third parties without the consent of NSi, where such third party [ * ]. The licensee must provide to NSi a copy of any agreement effecting any
such sub-licence within [ * ] of its execution; and 

  

	 	(c)	 to any other third parties only with prior written consent of NSi, which consent may be granted, whether or not subject to conditions, or withheld
provided in all the circumstances NSi consent will not be unreasonably withheld. The Licensee must provide to NSi a copy of any proposed agreement effecting any such sub-licence at least [ * ] prior to its proposed or planned execution.

  
 8. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	3.2	 Conditions of Sub-licences 

 Any permitted sub-licence granted by the Licensee pursuant to clauses 3.1 must be on terms consistent with the terms and conditions of this Agreement and must: 

 

	 	(a)	 provide that the sub-licence and the rights granted under it are personal to the Sub-licensee and the Sub-licensee must not at any time assign,
transfer or in any way charge, mortgage or deal with any of its rights or obligations under the sub-licence without NSi’s prior written consent; 

  

	 	(b)	 provide in a form reasonably required by NSi that the Sub-licensee releases NSi and UNSW from, and indemnifies NSi and UNSW against, all costs and
liability in connection with the sub-licence and the Sub-licensee’s exercise of rights under it, including indirect and consequential loss, liability for breach of contract, under statute, common law, tort (including negligence) or otherwise to
the extent permitted by law; 

  

	 	(c)	 contain obligations of confidentiality in respect of NSi’s Confidential Information, and the right of NSi to inspect the Sub-licensee’s
premises and records, in a form substantially similar to those contained in this Agreement; 

  

	 	(d)	 not otherwise grant rights which are inconsistent with the rights and obligations of the Licensee under this Agreement;

  

	 	(e)	 terminate where the Sub-licensee ceases to be an Affiliate of Licensee, unless NSi has given its prior written consent to the continuation of the
relevant sub-licence; 

  

	 	(f)	 if the licence of any right in respect of the Licensed IP is terminated under this Agreement, terminate to a corresponding extent; and

  

	 	(g)	 terminate on the termination or expiry of this Agreement, except where this Agreement is terminated under clauses 19.3(d) or 19.3(e) in which case
the sub-licence must provide for the novation of the rights and obligations of Licensee under the sub-licence to NSi at NSi’s absolute discretion. For the purpose of any such novation, the Licensee hereby appoints NSi as its attorney to do all
things and execute all documents necessary or desirable to perfect such novation of the sub-licence agreement on behalf of the Licensee. 

  

	3.3	 Licensee responsible for Sub-licensees 

All acts, omissions and Exploitation of the Licensed IP by or on behalf of the Licensee’s Sub-licensees will be
deemed to be acts, omissions and Exploitation by the Licensee for the purposes of this Agreement. 
  

	3.4	 Licensee to procure compliance by sub-licensees 

The Licensee must procure that each of its Sub-licensees complies with the terms of the relevant
sub-licence. 
  

	4.	 EXPLOITATION BY NSI 

 
  

	4.1	 Royalties 

 Where NSi Exploits or licenses others to Exploit the Project IP within the Field it will pay the Licensee [ * ]% of the Net Revenue actually received by NSi solely and directly from the

  
 9. 

[ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 
Exploitation of the Project IP within the Field (NSi Royalty) within [ * ] of the end of each Royalty Period. 
  

	4.2	 Late payment 

 Without prejudice to the Licensee’s other rights or remedies, if NSi fails to pay any amount under this clause 4 within [ * ] after the due date it will pay the Licensee interest on the amount
outstanding: 
  

	 	(a)	 calculated daily from the due date of payment to the date payment is received by the Licensee in full; and 

 

	 	(b)	 at an interest rate of [ * ] the rate quoted on the due date of payment (and if no rate was quoted on that day, the day on which it is next quoted)
for business overdrafts over AUD$100,000 by the Licensee’s principal Australian bank. 

  

	4.3	 Payments 

  

	 	(a)	 Payment of NSi Royalty is to be made by NSi to the Licensee in Australian currency and is to be made by bank draft made payable to the Licensee or,
at the Licensee’s option, direct deposit into the account notified by the Licensee in writing. 

  

	 	(b)	 Where conversion from foreign currency is required, the conversion is to be made at the average day’s buying rate of NSi’s principal bank
prevailing two days before the remittance of the payment. 

  

	4.4	 Royalty statement 

 Within [ * ] of the end of each Royalty Period in which the first sale of a Product by NSi, its Affiliates or additional licensees occurs NSi must give the Licensee a written statement signed by an
authorised officer of NSi setting out the following information for the relevant Royalty Period, by country (to the extent applicable): 
  

	 	(a)	 the number of Products manufactured by NSi and its Affiliates and additional licensees; 

 

	 	(b)	 the number of Products supplied by NSi and its Affiliates and additional licensees; 

 

	 	(c)	 the total amounts invoiced in respect of Products by NSi and its Affiliates and additional licensees 

 

	 	(d)	 the total Net Revenue amounts in respect of Products; 

 

	 	(e)	 the manner in which the NSi Royalty was calculated, including details of any deductions from the total invoiced amounts;

  

	 	(f)	 the applicable NSi Royalty payable; 

  

	 	(g)	 sales forecasts; and 

  

	 	(h)	 any other details the Licensee reasonably requires from time to time. 

 

	4.5	 Licensee may request audited statement 

  
 10.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 At the Licensee’s request from time to time, NSi must, at the
Licensee’s cost, promptly provide to NSi a signed certificate from NSi’s auditor stating that the details set out in the statements prepared under clause 4.5 are correct. 

 

	4.6	 NSi to retain records 

 NSi must create and maintain for [ * ] from the date of creation, in a manner approved by the Licensee from time to time, separate, comprehensive, accurate, up-to-date and auditable records of:

  

	 	(a)	 the matters specified in clause 4.4 in accordance with applicable accounting standards; 

 

	 	(b)	 the working papers NSi used to calculate the NSi Royalty; and 

 

	 	(c)	 each NSi Royalty statement, 

 and provide the Licensee with any other information it reasonably requires from time to time. 
  

	4.7	 Licensee’s right to inspect records 

NSi must: 
  

	 	(a)	 permit the Licensee’s accountant, auditor or nominee, on reasonable notice and during ordinary business hours on a Business Day, to inspect and
verify the records referred to in clause 4.6; and 

  

	 	(b)	 give all reasonable help in any inspection and verification and permit the Licensee’s accountant, auditor or nominee to take copies of such
records. 

  

	4.8	 Cost of inspection 

 The Licensee’s cost of inspections under clause 4.7 will be borne by the Licensee unless an inspection shows that any amounts due to the Licensee under this Agreement have been understated by [ * ]
or more, in which case the cost of that inspection will be payable by NSi. 
  

	5.	 PAYMENTS 

 
  

	5.1	 Licence Fees, Sub-licence Fees and Royalties 

In consideration of the licences granted in clause 2.1 and the disclosure of the Licensed IP pursuant to clause 2.5, the
Licensee must pay to NSi: 
  

	 	(a)	 the Licence Fees in the amounts, and within [ * ] of the Milestone specified in the Schedule having been achieved; 

 

	 	(b)	 the Royalty within [ * ] of the end of each Royalty Period; 

 

	 	(c)	 the Sub-licence Fees within [ * ] of the end of each Royalty Period; and 

 

	 	(d)	 any other amounts due from time to time under this Agreement, upon request in accordance with the relevant obligations.

  

	5.2	 Notification of milestone events 

  
 11.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 The Licensee must immediately notify NSI in writing upon the occurrence
of a Milestone which triggers the payment of any Licence Fee under clause 5.1(a), as specified in the Schedule. 
  

	5.3	 Accruals 

  

	 	(a)	 The Royalty accrues in respect of Products when the Products are invoiced by the Licensee its Affiliates or Sub-licensees which is deemed to have
occurred on the earlier of the Products being invoiced, supplied to a purchaser, put into use or paid for by the purchaser. 

  

	 	(b)	 The Sub-licence Fees accrue at the earlier of the time any consideration is received by or has become due to the Licensee from a Sub-licensee under
the relevant sub-licence. 

  

	5.4	 Non arms’ length arrangements or non-cash consideration 

 

	 	(a)	 Where any Sale of Products is made, or any sub-licence of the Licensed IP to a Sub-licensee is granted, other than in an arms’ length bona fide
commercial transaction or for consideration other than cash, for the purposes of calculating the Royalty and any Sub-licence Fees the consideration received for that transaction must be calculated by the Licensee by reference to the fair market
value, as if the transaction had been an arms’ length bona fide commercial transaction and the consideration had been in cash. 

  

	 	(b)	 The Licensee must separately identify in its Royalty and Sub-licence Fee statements provided to NSi under clauses 7.1 and 7.2 any transactions the
subject of this clause 5.4 providing reasonable detail as to the relevant calculation. 

  

	 	(c)	 Any dispute as to the calculation of the fair market value or cash equivalent value which cannot be resolved by discussion between the parties must
be referred for resolution in accordance with clause 21. 

  

	5.5	 Late payment 

 Without prejudice to NSi’s other rights or remedies, if the Licensee fails to pay any amount under this clause 5 within [ * ] after the due date it will pay NSi interest on the amount outstanding:

  

	 	(a)	 calculated daily from the due date of payment to the date payment is received by NSi in full; and 

 

	 	(b)	 at an interest rate of [ * ] the rate quoted on the due date of payment (and if no rate was quoted on that day, the day on which it is next quoted)
for business overdrafts over AUD$100,000 by NSi’s principal Australian bank. 

  

	5.6	 Payments 

  

	 	(a)	 All Licence Fees, Royalties, Sub-licence Fees and other payments to be made by the Licensee to NSi under this Agreement are to be made in Australian
currency and are to be made by bank draft made payable to NSi or, at NSi’s option, direct deposit into the account notified by NSi in writing. 

  

	 	(b)	 Where conversion from foreign currency is required, the conversion is to be made at the average day’s buying rate of the Licensee’s
principal bank prevailing two days before the remittance of the payment 

  
 12.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	6.	 TAXES 

  

 

	6.1	 General Taxes 

  

	 	(a)	 All amounts payable by a party (Recipient) under this Agreement are exclusive of any applicable Taxes and, subject to clause 6.3, the
Recipient must pay directly (if applicable) or reimburse the other party (Supplier) for any such Taxes. 

  

	 	(b)	 Where required, Supplier will provide a tax invoice to the Recipient. 

 

	6.2	 GST 

  

	 	(a)	 In circumstances where GST applies, at the cost the Recipient, the Supplier must do all things reasonably necessary to assist the Recipient to claim
any input tax credit or refund available in relation to any GST paid or payable by the Recipient under this clause 6. 

  

	 	(b)	 The Supplier may invoice the Recipient for GST when the Supplier invoices the Recipient for payments due under this Agreement or when the Supplier
is required to remit the GST, at the Supplier’s option. 

  

	 	(c)	 Any GST payable by the Recipient under this Agreement is calculated by multiplying by the prevailing GST rate by the amount of the consideration
payable by the Recipient for the relevant supply. 

  

	 	(d)	 If a payment to a party under this agreement is a payment by way of reimbursement or indemnity and is calculated by reference to the GST inclusive
amount of a loss, cost or expense incurred by that party, then the payment is to be reduced by the amount of any input tax credit to which that party is entitled in respect of that loss, cost or expense before any adjustment is made for GST.

  

	6.3	 Withholding taxes 

 All payments made under this Agreement are exclusive of any withholding taxes. If any laws, rules or regulations require the withholding of amounts of Taxes or other amounts from payments made by the
Recipient to the Supplier under this Agreement, the Recipient must gross up such payments so that the amount actually paid to the Supplier is the amount the Supplier would otherwise receive if no amount was required to be withheld. 

 

	7.	 ACCOUNTS 

 
  

	7.1	 Royalty statement 

 Within [ * ] of the end of each Royalty Period in which a First Commercial Sale occurs the Licensee must give NSi a written statement signed by an authorised officer of the Licensee setting out the
following information for the relevant Royalty Period, by country (to the extent applicable): 
  

	 	(a)	 the number of Products manufactured by the Licensee and its Affiliates and Sub-licensees; 

 

	 	(b)	 the number of Products supplied by the Licensee and its Affiliates and Sub-licensees; 

 

	 	(c)	 the total amounts invoiced in respect of Products by the Licensee and its Affiliates and Sub-licensees 

  
 13.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(d)	 the total Net Sales amounts in respect of Products; 

 

	 	(e)	 the manner in which the Royalty was calculated, including details of any deductions from the total invoiced amount; 

 

	 	(f)	 the applicable Royalty payable; 

  

	 	(g)	 Sales forecasts; and 

  

	 	(h)	 any other details NSi reasonably requires from time to time. 

 

	7.2	 Sub-licence statement 

 Within [ * ] of the end of each Royalty Period the Licensee must give NSi a written statement signed by an authorised officer of the Licensee setting out the following information for the relevant Royalty
Period, by country (to the extent applicable): 
  

	 	(a)	 the number of sub-licences to Sub-licensees (other than Affiliates) in place for the Licensed IP; 

 

	 	(b)	 the total amounts invoiced by the Licensee or its Affiliates under or in relation to such sub-licences; 

 

	 	(c)	 the amount of all payments received by the Licensee or its Affiliates under or in relation to such sub-licences; 

 

	 	(d)	 the manner in which the Sub-licence Fee was calculated; 

 

	 	(e)	 the applicable Sub-licence Fee; 

  

	 	(f)	 sales forecasts; and 

  

	 	(g)	 any other details NSi reasonably requires from time to time. 

 

	7.3	 NSi may request audited statement 

 At NSi’s request from time to time, the Licensee must, at NSi’s cost, promptly provide to NSi a signed certificate from the Licensee’s auditor stating that the details set out in the
statements prepared under clauses 7.1 and 7.2 are correct. 
  

	7.4	 Licensee to retain records 

 The Licensee must create and maintain for [ * ] from the date of creation, in a manner reasonably approved by NSi from time to time, separate, comprehensive, accurate, up-to-date and auditable records of:

  

	 	(a)	 the matters specified in clauses 7.1 and 7.2 in accordance with applicable accounting standards; 

 

	 	(b)	 the working papers the Licensee used to calculate the Royalty and the Sub-licence Fees; and 

 

	 	(c)	 each Royalty and Sub-licence Fee statement, 

  
 14.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 and provide NSi with any other information it reasonably requires from
time to time. 
  

	7.5	 NSi’s right to inspect records 

The Licensee must: 
  

	 	(a)	 permit NSi’s accountant, auditor or nominee, on reasonable notice and during ordinary business hours on a Business Day, to inspect and verify
the records referred to in clause 7.4; and 

  

	 	(b)	 give all reasonable help in any inspection and verification and permit NSi’s accountant, auditor or nominee to take copies of such records.

  

	7.6	 Cost of inspection 

 NSi’s cost of inspections under clause 7.5 will be borne by NSi unless an inspection shows that any amounts due to NSi under this Agreement have been understated by [ * ] or more, in which case the
cost of that inspection will be payable by the Licensee. 
  

	7.7	 Obligations of Sub-licensees 

 The Licensee must procure: 
  

	 	(a)	 that all Sub-licensees comply with obligations substantially the same as those contained in this clause 7; and 

 

	 	(b)	 for NSi the rights of inspection under clause 7.5 in respect of the Licensee’s Sub-licensees. 

 

	8.	 PROSECUTION AND MAINTENANCE OF PATENTS 

 
  

	8.1	 Prosecution 

 Subject to clause 8.3, NSi must, to the extent commercially and legally reasonable in accordance with the advice available to it, use reasonable and timely efforts in consultation with the Licensee to:

  

	 	(a)	 prosecute all Patents and other applications for statutory protection of the Licensed IP; and 

 

	 	(b)	 maintain all Patents and other rights granted on those applications. 

 

	8.2	 Assistance in prosecution 

  

	 	(a)	 NSi and the Licensee must render all reasonable non-monetary assistance to each other in relation to the prosecution and maintenance of the Patents.

  

	 	(b)	 At the Licensee’s written request, NSi will advise the Licensee about the current status of the Patents. 

 

	8.3	 Costs of Patents 

  

	 	(a)	 Subject to clause 8.3(b), the Licensee must pay or reimburse NSi (at NSi’s option) all Registration Costs incurred by or on behalf of NSi with
respect to all Licensed IP in any country in the Territory approved by the Licensee in writing. 

  
 15.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(b)	 The Licensee is only required to pay or reimburse NSi (at NSi’s option) [ * ] of all Registration Costs incurred by or on behalf of NSi for any
licensed NSi Background IP in any country in the Territory approved by the Licensee in writing, [ * ]. 

  

	 	(c)	 The Licensee must give to NSi at least [ * ] written notice if it does not wish to continue payment of Registration Costs with respect to any
Licensed IP in any country in the Territory, in which case NSi may, at its sole discretion: 

  

	 	(i)	 cease prosecution of that Licensed IP or allow it to lapse in that country; or 

 

	 	(ii)	 prosecute or maintain such Licensed IP in that country at its own cost, and 

from the date the Licensee’s notice becomes effective the licence(s) under this Agreement for the relevant Licensed
IP in that country will terminate and the Licensee will have no obligation to pay any Registration Costs incurred after that date in respect of such Licensed IP in that country under clause 8.3(a). 

 

	9.	 NO CHALLENGE TO VALIDITY 

 
 Except where such
a prohibition is not permitted under applicable law, the Licensee must not raise or cause to be raised any questions concerning, or any challenge or any objection to, the validity or ownership of any part of the Licensed IP, other than drawing to
NSi’s attention any information which the Licensee believes is relevant to the validity or ownership of the Licensed IP. Where such a prohibition is not permitted under applicable law, if the Licensee raises or causes to be raised any question
concerning, or any objection to, the validity or ownership of any part of the Licensed IP, NSi may, to the extent permitted by law, by notice in writing to the Licensee terminate the licence(s) granted to the Licensee under this Agreement for that
part of the Licensed IP. 
  

	10.	 EXPLOITATION BY LICENSEE 

 
  

	10.1	 Best efforts to Exploit 

 The Licensee must use its best endeavours during the Term to: 
  

	 	(a)	 Exploit the Licensed IP within the Territory in the Field so as to maximise Sales of Products and consideration received from Sub-licensees;

  

	 	(b)	 meet the Minimum Performance Obligations as set out in the Schedule. 

 

	10.2	 Reports 

  

	 	(a)	 The Licensee must prepare and deliver to NSi within [ * ] of the end of each [ * ] during the Term, in a form reasonably required by NSi, a written
report setting out progress of the development and Exploitation of the Licensed IP in the previous [ * ] for those Applications for which a Royalty statement has not been provided under clause 7. 

 

	 	(b)	 The Licensee must procure that its Sub-licensees comply with obligations substantially equivalent to those in this clause 10.2.

  

	10.3	 Minimum Performance Obligations 

  
 16.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(a)	 Without limiting the obligations set out in clauses 10.1 and 10.2, the Licensee must meet the Minimum Performance Obligation by the relevant
Commercialisation Milestone Date set out in the Applications Commercialisation Plan. 

  

	 	(b)	 Where the Licensee fails to meet a Minimum Performance Obligation for any Application NSi may, in its absolute discretion by [ * ] prior written
notice to the Licensee, terminate the licences granted under this Agreement for that Application only. 

  

	10.4	 Compliance with laws 

 The Licensee must ensure that the Exploitation of the Licensed IP and the Products by or on behalf of the Licensee and its Sub-licensees is carried out with all due care and skill and in compliance with
all applicable laws, regulations, standards and requirements of relevant jurisdictions. 
  

	10.5	 Exclusive efforts 

 The Licensee must not during the Term directly or indirectly engage in or be knowingly concerned with the development, manufacture, marketing, sale, supply or other commercial Exploitation of any product
or service competitive with or substitutable for the Products in the Territory and within the Field and in respect of the Applications to which this Agreement applies. 
  

	11.	 PRODUCTS 

 
  

	11.1	 Quality of Products 

 Where the Licensee or Sub-licensees make or cause to be made, supply or cause to be supplied, any Products, the Licensee must (as applicable) itself, or cause its Sub-licensees to: 

 

	 	(a)	 manufacture, or cause to be manufactured, the Products with due care and skill and in accordance with all relevant best practice industry standards,
and ensure that the Products are of good and merchantable quality and fit for their purpose, and meet all legal requirements, including all product liability laws, applicable where the particular Product is to be Exploited; and

  

	 	(b)	 promptly notify NSi of any significant quality failures which affect the Products and any circumstances which may require the recall of any
Products. 

  

	11.2	 Inspection of Licensee’s premises 

On reasonable notice from NSi, the Licensee must permit NSi or its authorised representative to inspect the
Licensee’s premises during business hours on a Business Day in order to observe the manufacture of Products and to verify whether the Licensee is complying with its obligations under this Agreement. 

 

	11.3	 Records of Exploitation 

 The Licensee must keep appropriate, comprehensive, accurate and up-to-date financial, technical and commercial records of its compliance with its obligations under this Agreement and must: 

 

	 	(a)	 permit NSi, its authorised representative or agent, on reasonable notice and during ordinary business hours on a Business Day, to inspect and verify
such records; and 

  
 17.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(b)	 give all reasonable help in any such inspection and verification and permit NSi, its authorised representative or agent to take copies of such
records. 

  

	11.4	 Cost of inspection 

 NSi’s cost of inspections under clauses 11.2 and 11.3 will be borne by NSi unless an inspection shows that the Licensee is in material breach of its obligations under this Agreement, in which case
the cost of that inspection will be payable by the Licensee. 
  

	11.5	 Obligations of sub-licensees 

 The Licensee must procure: 
  

	 	(a)	 that all Sub-licensees comply with obligations substantially the same as those contained in this clause 11; and 

 

	 	(b)	 for NSi the rights of inspection under clauses 11.2 and 11.3 in respect of the Licensee’s Sub-licensees. 

 

	11.6	 Insurance 

  

	 	(a)	 The Licensee must during the Term, and for so long as is necessary after the Term to give effect to this clause 11.6, take out and maintain with
reputable insurers reasonably acceptable to NSi: 

  

	 	(i)	 comprehensive public and product liability insurance policies which give coverage against all usual risks, including for any claim or demand arising
out of or in relation to this Agreement, the Licensed IP or the Products (including but not limited to clinical trial insurance) and for an amount in respect of each claim of at least the amount specified in the Schedule;

  

	 	(ii)	 insurance in respect of all claims and liabilities arising, whether at common law or under statute, relating to workers compensation or
employer’s liability, from any accident or injury to any person employed by the Licensee in connection with the Exploitation of the Products. This insurance must be in compliance with all laws of the relevant jurisdiction in which the Products
will be manufactured, marketed and Sold; and 

  

	 	(b)	 Unless prohibited by law, the Licensee must ensure that all policies of insurance required to be taken out by it under this clause 11.6 include NSi
and UNSW as interested parties on such policy. 

  

	 	(c)	 Unless otherwise agreed by NSi in writing, any sub-contract or sub-licence granted by the Licensee with respect to the Licensed IP must require the
sub-contractor or Sub-licensee to take out and maintain adequate insurance, including comprehensive public and product liability insurance policies, consistent with the requirements of this clause 11.6. 

 

	 	(d)	 The Licensee must at NSi’s request provide NSi with certificates of currency for the policies required to be taken out by the Licensee under
this clause 11.6 within [ * ] of such request. 

  

	 	(e)	 The Licensee must immediately notify NSi of any cancellation or change to a relevant insurance policy which affects NSi’s or UNSW’s
interests. 

  
 18.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(f)	 If any event occurs which may give rise to a claim involving NSi or UNSW under any policy of insurance to be taken out by the Licensee under this
clause 11.6 the Licensee must: 

  

	 	(i)	 notify NSi as soon as reasonably practicable, but in any event within [ * ] of the occurrence of that event; and 

 

	 	(ii)	 ensure that NSi is kept fully informed of any subsequent actions and developments concerning the relevant claim. 

 

	 	(g)	 The Licensee’s obligations to insure under this clause 11.6 are material obligations of this Agreement. Without limiting NSi’s rights at
law, in equity, under this Agreement or otherwise, any failure by the Licensee to comply with a provision of this clause 11.6 entitles NSi, at its sole discretion, to terminate this Agreement and/or to invoice the Licensee for, or set off against
any sum payable by NSi to the Licensee, all costs and expenses NSi incurs in taking out and maintaining a policy of insurance which Licensee has failed to take out as required. 

 

	12.	 NOT USED 

 
  

	13.	 APPLICATION SUBSTITUTION 

 
  

	13.1	 Option to Substitute New Applications 

Except where this Agreement or any licenses granted under this Agreement are terminated by NSi under clauses 10.3 and
19.3, and further provided the Licensee has paid all Registration Costs, Licence Fees, monies due and payable under the Collaborative Research Agreement and is not otherwise in material breach of any provision contained in this Agreement or the
Collaborative Research Agreement, the Licensee may at its discretion substitute New Application to replace a Further Application at anytime during the Term of this Agreement (“Option”) subject to Clause 13.3. 

 

	13.2	 Exercise of the Option 

 To Exercise the Option and give effect to a separate commercial licence for a New Application: 
  

	 	(a)	 the Licensee will provide a notice in writing to NSi indicating the New Application required to be licensed and nominating the Further Application
to be replaced in the Schedule; 

  

	 	(b)	 NSi will amend the Schedule to incorporate the New Application, remove the Further Application and add any Project IP or Background IP necessary to
Exploit the New Application; and 

  

	 	(c)	 the parties will execute the amended Schedule to indicate their agreement to amend the Schedule. 

 

	13.3	 [ * ] Option 

 The Licensee acknowledges and agrees: 
  

	 	(a)	 that it may only exercise the Option subject to: 

  
 19.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(i)	 [ * ]; and 

  

	 	(ii)	 [ * ]; and 

  

	 	(b)	 until the Licensee exercises its Option, [ * ] and [ * ] in respect of any applications [ * ]. 

 

	13.4	 Additional Applications 

  

	 	(a)	 At any time during the Term, the Licensee may serve a notice on NSi that it wishes to obtain a separate commercial licence for an application of the
Project IP within or outside the Field (Additional Application). 

  

	 	(b)	 The parties must work together in good faith on an exclusive basis for a period of [ * ] (Exclusivity Period) after service of a notice pursuant to
clause 13.4(a) to agree on the terms (including, without limitation, the royalty rate) on which the Additional Application will be licensed to the Licensee provided that if the parties agree on terms: 

 

	 	(i)	 the parties will enter into a new separate license agreement; and 

 

	 	(ii)	 [ * ] will [ * ] during the Exclusivity Period in respect of any Intellectual Property the subject of the negotiation. 

 

	14.	 CONFIDENTIAL INFORMATION 

 
  

	14.1	 Permitted use 

 The Licensee may use and disclose NSi’s Confidential Information comprised in the Licensed IP solely to the extent necessary for the Exploitation of the Licensed IP or Products in accordance with
this Agreement. 
  

	14.2	 Obligations of confidentiality 

 Subject to clause 14.1, each party must: 
  

	 	(a)	 not use, and ensure that its employees, officers and agents do not use, any Confidential Information of the other party for any purpose other than
compliance with its obligations under this Agreement; 

  

	 	(b)	 take all action necessary to maintain the confidential nature of the Confidential Information of the other party, including keeping all records of
that Confidential Information under lock and key or password protection; 

  

	 	(c)	 not disclose any of the Confidential Information of the other party to any person other than those of its employees who need to have access to that
Confidential Information for the purposes of compliance with its obligations under this Agreement, who are aware of the requirements of this Agreement, and who are bound by an enforceable obligation of confidentiality; and

  

	 	(d)	 destroy all documents and other materials in whatever form in its possession, power or control which contain or refer to any Confidential
Information of the other party, on the earlier of expiry or termination of this Agreement, demand by the other party or the time they are no longer required for the purposes of this Agreement. 

  
 20.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	14.3	 Uncertainty 

 If it is uncertain as to whether: 
  

	 	(a)	 any information is Confidential Information; or 

  

	 	(b)	 any Confidential Information is publicly available, 

that information will be taken to be Confidential Information and not generally available to the public unless the
disclosing party advises the recipient party in writing to the contrary or a court declares it to be publicly available. 
  

	14.4	 Disclosure required by law 

 Each party may disclose Confidential Information of the other party if legally compelled to do so by a judicial or administrative body provided it takes all reasonably available legal measures to avoid
such disclosure, and notifies the other party as soon as practicable after such disclosure is ordered so that the other party may seek an appropriate protective order or other remedy. 

 

	14.5	 Acknowledgement 

 Each party acknowledges that due to the proprietary and competitively-sensitive nature of the Confidential Information of the other party, the other party would be irreparably harmed by any actual or
threatened breach of this clause 14, and that monetary damages would be insufficient to remedy such actual or threatened breach. 
  

	15.	 MEDIA AND PUBLICATIONS 

 
  

	15.1	 Statements and use of name 

  

	 	(a)	 A party may not make press or other announcements or releases relating to this Agreement or the matters the subject of this Agreement without the
prior written consent of the other party, such consent not to be unreasonably withheld. 

  

	 	(b)	 In any publication, press release, advertising or other promotional material relating to the Licensed IP: 

 

	 	(i)	 the Licensee must give due credit to UNSW and/or NSi as owner and/or licensor (as applicable), but must not otherwise use or permit to be used
NSi’s or UNSW’s name without having previously obtained the consent in writing of NSi and/or UNSW (as applicable); and 

  

	 	(ii)	 must not intentionally make or permit to be made any inaccurate or misleading statement in relation to the Licensed IP or the Products.

  

	15.2	 Publication of Papers 

 A party must not publish any Paper without the prior written consent of the other party. Where a party wishes to obtain the other party’s consent for the publication of a Paper: 

 

	 	(a)	 the party must provide to the other party a copy of the proposed Paper at least [ * ] prior to the proposed date of publication (or submission for
publication where applicable); 

  
 21.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(b)	 the other party may within [ * ] of receipt of a proposed Paper reasonably object to or request a delay of the publication of the Paper in whole or
in part providing reasons, in which case the party must not publish, or must delay the publication of, the Paper (as applicable). If the other party fails to object or request a delay within this period, the other party will be deemed to have
consented to the publication of the Paper; and 

  

	 	(c)	 a party must not unreasonably withhold its consent to the publication of a Paper, provided that it may withhold consent if it reasonably believes
the publication will adversely affect the protection or commercialisation of any Intellectual Property owned by it. 

  

	15.3	 Acknowledgements 

 Each party must acknowledge the role of the other party in any Paper, and each party must, where any significant advice or recommendations have been provided by an employee of the other party,
appropriately acknowledge the authorship of that person, in each case in accordance with usual academic practice. 
  

	16.	 INFRINGEMENT AND ENFORCEMENT 

 
  

	16.1	 Notice of proceedings 

 Each party must immediately give to the other party full details of any actual or suspected infringement or any action for revocation of any of the Licensed IP by a third party in the Territory
(Infringement) of which it becomes aware. If such an Infringement occurs, the parties must consult with each other as to an appropriate course of action. 
  

	16.2	 Licensee to enforce 

 If an Infringement occurs, the Licensee may, to the extent commercially and legally reasonable in accordance with the advice and resources available to it, institute and prosecute or defend (as
applicable) proceedings in its own name at its cost to prevent infringement of the Licensed IP by the third party or revocation of the Licensed IP, or to defend any cross-claim asserting invalidity of the Licensed IP, and the Licensee must:

  

	 	(a)	 give NSi reasonable notice, keep NSi advised of the progress, and consult with NSi and accept the reasonable directions of NSi about the conduct of
such proceedings; 

  

	 	(b)	 provide to NSi on request, at no cost to NSi, copies of all documents used in or prepared for such proceedings; and 

 

	 	(c)	 indemnify NSi and UNSW against all actions, claims, loss, awards, costs, damages and expenses arising out of or in connection with those
proceedings, but only to the extent those proceedings relate to or arise from the Exploitation of the Licensed IP by the Licensee, its Affiliates or its sub-licensees. 

 

	16.3	 NSi may join action 

 If the Licensee institutes or defends proceedings with respect to an Infringement in accordance with clause 16.2, NSi may join the Licensee in such proceedings and may contribute to the costs and expenses
of the proceedings, in which case [ * ] or [ * ] or [ * ]. 
  

	16.4	 NSi may proceed alone 

  
 22.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 If the Licensee fails to institute or defend proceedings with respect to
an Infringement in accordance with clause 16.2, NSi may institute or defend such proceedings on its own in its own name and at its cost and may retain any damages or other amounts received through settlements or adjudications of such proceedings.

  

	16.5	 Third party claims 

  

	 	(a)	 If proceedings are threatened or commenced by a third party against a party in any country on the ground that the Exploitation of the Licensed IP
infringes an Intellectual Property rights vested in the third party, then: 

  

	 	(i)	 the party threatened or sued must immediately notify the other party; and 

 

	 	(ii)	 the parties will refer the matter to leading legal counsel for advice on whether a defence or threats action will have a reasonable chance of a
successful outcome and whether there are circumstances making it imprudent to defend or commence proceedings. 

  

	 	(b)	 If proceedings are threatened or commenced against a party, that party will be solely responsible for the defence of those proceedings and bringing
any threats action, and indemnifies the other party against all actions, claims, loss, awards, costs, damages and expenses arising out of or in connection with those proceedings. In the case of the Licensee, the requirement for it to indemnify NSi
only applies to the extent the proceedings or threatened proceedings relate to or arise from the Exploitation of the Licensed IP by the Licensee, its Affiliates or its sub-licensees. 

 

	 	(c)	 A party will not be required to defend any infringement proceedings brought by a third party or institute any threats action where leading counsel
advises that it would be imprudent to defend or commence proceedings. 

  

	16.6	 Amendment 

 If the parties agree [ * ] that, prior to the defence or institution of proceedings, the specification of any Patent should be amended, NSi may apply to amend the specification. 

 

	16.7	 Assistance 

 Each party agrees, on the request of the other party, at its cost to provide to the other party all information and assistance reasonably required by the other party in connection with any action or
proceedings contemplated by this clause 16, including providing documents and witnesses to give evidence. 
  

	17.	 WARRANTIES 

 
  

	17.1	 Mutual warranties 

 Each party warrants that as at the date of execution of this Agreement: 
  

	 	(a)	 it has the power and authority to enter into and perform its obligations under this Agreement and that the execution of this Agreement by it has
been duly and validly authorised by all necessary corporate action; 

  
 23.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(b)	 its obligations under this Agreement are valid and binding and enforceable against it in accordance with their terms; and

  

	 	(c)	 this Agreement and its performance do not contravene its constituent documents or any law, or any of its obligations or undertakings by which it is
bound, or cause a limitation on the powers of its corporate officers to be exceeded. 

  

	17.2	 NSi’s warranties 

 NSi warrants that to the best of its actual knowledge as at the date of execution of this Agreement: 
  

	 	(a)	 it owns the Licensed IP and has the right to grant the licences to the Licensed IP contained in this Agreement; 

 

	 	(b)	 there is no litigation pending in respect to the Licensed IP, and no claim or demand has been received by NSi from any person in relation to the
ownership or validity of the Licensed IP; 

  

	 	(c)	 the Licensed IP is not encumbered, mortgaged, or charged in any way, nor subject to any lien; 

 

	 	(d)	 it has not granted to any person any licence to the Licensed IP which may conflict with the licences granted in this Agreement, other than as
expressly permitted by this Agreement; 

  

	17.3	 Limit on warranties 

 The warranties by NSi in clause 17.2 are given by NSi: 
  

	 	(a)	 to [ * ] knowledge, [ * ]; and 

  

	 	(b)	 subject to all liabilities, contracts and other matters disclosed in writing by or on behalf of NSi to the Licensee before the date of execution of
this Agreement, including all matters disclosed in the Disclosed Items specified in the Schedule, and do not apply in respect of any matter disclosed in, or arising out of or in connection with, any such liabilities, contracts and other matters.

  

	17.4	 Licensee’s warranties 

 The Licensee warrants that as at the date of execution of this Agreement: 
  

	 	(a)	 it has the necessary resources, skills and technical expertise to Exploit the Licensed IP and Products in accordance with and perform its
obligations under this Agreement; 

  

	 	(b)	 it has made its own assessment of the Licensed IP and Products and the commercial value of the licences granted under this Agreement;

  

	 	(c)	 it has exercised its independent skill and judgment and has carried out its own investigations in its decision to enter into this Agreement;

  

	 	(d)	 it has not relied on any advice, promise or representation made by or on behalf of NSi (including by UNSW or UNSW personnel) which has not been
expressly included in this Agreement; and 

  
 24.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(e)	 it has obtained, or where required in the future will obtain, all authorisations, registrations, approvals and permits required by any governmental
body or under any government legislation in any relevant jurisdiction in connection with the Licensee’s entry into and performance of this Agreement and the Exploitation of the Licensed IP and Products. 

 

	17.5	 Exclusion of warranties 

 The Licensee acknowledges and agrees that: 
  

	 	(a)	 NSi has not made or given, nor has any person on behalf of NSi made or given, any warranty, representation, undertaking or understanding whatsoever
that is not expressly set out in this Agreement; and 

  

	 	(b)	 NSi has not made and does not make any warranty or representation whatsoever as to: 

 

	 	(i)	 the safety of the Licensed IP or the Products; 

  

	 	(ii)	 the Exploitation of the Licensed IP or of the Products, except as set out in clause 17.2; 

 

	 	(iii)	 the marketability of the Licensed IP or of the Products; 

 

	 	(iv)	 the Exploitation prospects or success of any part of the Licensed IP or of the Products or the profits or revenues that may result from the
Exploitation of the Licensed IP or the Products; 

  

	 	(v)	 the validity of any right in respect of the Licensed IP, whether in respect of the Products or otherwise; 

 

	 	(vi)	 NSi’s Confidential Information or the Know-how being complete or accurate; 

 

	 	(vii)	 the Licensee’s Exploitation of the Licensed IP or the Products not infringing the rights (including Intellectual Property rights) of any
person; 

  

	 	(viii)	 the Exploitation of the Licensed IP being lawful or not requiring the consent or approval of any person (including regulatory approval); and

  

	 	(ix)	 it being possible to grant an exclusive licence of the Licensed IP under the law of any jurisdiction within the Territory.

  

	18.	 LIABILITY 

 
  

	18.1	 NSi’s exclusions 

 Except for liability under any Prescribed Terms (as defined in clause 18.2), to the extent permitted by law NSi excludes all liability to the Licensee arising out of or in connection with the suitability
of the Licensed IP for the Exploitation of Products or the quality or performance of any Products, or the claims of third parties arising from the Exploitation of the Licensed IP or Products. 

 

	18.2	 Prescribed terms 

  

	 	(a)	 Subject to any terms, conditions and warranties which the law expressly provides may not be excluded, restricted or modified, or may be excluded,
restricted or modified only to a limited extent (Prescribed Terms), except as expressly set out in this Agreement, all 

  
 25.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	 
conditions, warranties, terms and obligations expressed or implied by law or otherwise relating to the performance of a party’s obligations, or any goods or services supplied or to be
supplied by a party, under this Agreement are excluded. 

  

	 	(b)	 To the extent permitted by law, the liability of a party for a breach of a Prescribed Term implied into this Agreement is limited, at that
party’s option, to the repair or replacement of the goods, the cost of repairing or replacing the goods, the re-supply of the services or the payment of the cost of re-supplying the services. 

 

	18.3	 Consequential loss 

 To the extent permitted by law, a party will have no liability to the other party, however arising and under any cause of action or theory of liability, in respect of special, indirect or consequential
damages, loss of profit (whether direct or indirect) or loss of business opportunity arising out of or in connection with this Agreement. 
  

	18.4	 Indemnity by Licensee 

 The Licensee releases and indemnifies NSi, UNSW, and their officers, employees, consultants and agents, from and against all actions, claims, proceedings and demands (including those brought by third
parties) which may be brought against it or them, whether on their own or jointly with the Licensee and whether at common law, under tort (including negligence), in equity, pursuant to statute or otherwise, in respect of any loss, death, injury,
illness or damage arising out of: 
  

	 	(a)	 any material breach by the Licensee of its warranties or obligations under this Agreement; 

 

	 	(b)	 any negligent act or omission or wilful misconduct of the Licensee or its officers, employees, consultants or agents; 

 

	 	(c)	 the Exploitation of the Licensed IP or Products by or on behalf of the Licensee or its Sub-licensees, including but not limited to, breach of
Intellectual Property rights of third parties arising in the course of such Exploitation; 

  

	 	(d)	 the design, manufacture, marketing or supply of the Products by or on behalf of the Licensee or its Sub-licensees; or 

 

	 	(e)	 any person’s use of any Products supplied by or on behalf of the Licensee or its Sub-licensees, 

and from and against all damages, reasonable costs and expenses incurred in defending, satisfying or settling any such
action, claim, proceeding or demand. 
  

	18.5	 Indemnity by NSi 

 NSi releases and indemnifies the Licensee, its officers, employees, consultants and agents, from and against all actions, claims, proceedings and demands (including those brought by third parties) which
may be brought against it or them, whether on their own or jointly with NSi and whether at common law, under tort (including negligence), in equity, pursuant to statute or otherwise, in respect of any loss, death, injury, illness or damage arising
out of: 
  

	 	(a)	 any material breach by NSi of its warranties or obligations under this Agreement; 

  
 26.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(b)	 any negligent act or omission or wilful misconduct of NSi or its officers, employees, consultants or agents; 

 

	18.6	 Cap on Liability 

 To the extent permitted by law, the total aggregate liability of NSi arising out of or in connection with the Licensed IP, the Products or this Agreement, whether based upon breach of contract, under
common law, statute, tort (including any negligence) or otherwise, and whether or not NSi had been advised of the possibility of such loss or damage: 
  

	 	(a)	 arising out of any one act, omission or event and any one series of related acts, omissions or events are not to exceed the amount of Licence Fees,
Sub-licence Fees and Royalties paid by the Licensee to NSi in the 12 month period prior to the act, omission or event or the first in the series of acts, omissions or events giving rise to the liability; and 

 

	 	(b)	 arising out of all acts, omissions and events whenever occurring is not to exceed the total amount of Licence Fees, Sub-licence Fees and Royalties
paid to NSi under this Agreement, 

 less any Taxes forming part of those amounts and less any
amounts paid by NSi to the Licensee within the relevant period. 
  

	19.	 TERM AND TERMINATION 

 
  

	19.1	 Agreement to continue for Term 

 Subject to earlier termination in accordance with this Agreement, this Agreement will commence on the Commencement Date and continue in force for the Term. 

 

	19.2	 Expiry of Intellectual Property rights during the Term 

The licences granted under this Agreement expire in relation to a Product in a country once all Patents in that country
any claim of which governs the Exploitation of that Product and all Other Statutory Rights in that country which subsist in the Exploitation of that Product expire, lapse, are found to be invalid or are rejected in a non-appealable or non-appealed
decision, and all Know-how in respect of the Exploitation of that Product has entered the public domain. 
  

	19.3	 Termination by NSi 

 NSi may terminate this Agreement, or the licence of any right in respect of the Licensed IP, by giving written notice to the Licensee if: 

 

	 	(a)	 the Licence Fees, Sub-licence Fees or Royalties are in arrears and unpaid for a period of [ * ] after they have become due and payable;

  

	 	(b)	 the Licensee commits or allows to be committed a breach (other than a trivial breach causing no material harm) of this Agreement and, where the
breach is capable of remedy, fails to remedy that breach within [ * ] of receiving written notice from NSi describing the breach and asking for it to be remedied; 

 

	 	(c)	 the Licensee suffers a change in Control (other than solely due to a corporate reconstruction of Affiliates) which, in the reasonable opinion of
NSi, adversely affects the Licensee’s ability to perform this Agreement; 

  
 27.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	 	(d)	 an Insolvency Event occurs in relation to the Licensee; or 

 

	 	(e)	 the Licensee ceases or threatens to cease to carry on its business. 

 

	19.4	 Termination by Licensee 

 The Licensee may terminate this Agreement by giving written notice to NSi if: 
  

	 	(a)	 NSi commits or allows to be committed a breach (other than a trivial breach causing no material harm) of this Agreement and, where the breach is
capable of remedy, fails to remedy that breach within [ * ] of receiving written notice from the Licensee describing the breach and asking for it to be remedied; or 

 

	 	(b)	 an Insolvency Event occurs in relation to NSi. 

  

	19.5	 Consequences of termination 

 Upon the termination or expiry of this Agreement for any reason:: 
  

	 	(a)	 the parties must pay all amounts owing under this Agreement, which become immediately due on termination or expiry; 

 

	 	(b)	 except to the extent applicable law provides otherwise, the Licensee must cease Exploiting the Licensed IP; 

 

	 	(c)	 the Licensee must provide NSi with details of any sub-licences or other arrangements entered into by the Licensee relating to or relying upon the
Licensed IP; 

  

	 	(d)	 the Licensee must, at NSi’s option deliver to NSi or erase or destroy, or procure the delivery, erasure or destruction (as applicable) of, all
materials, including electronic storage, in the possession or under the control of the Licensee or its Affiliates containing any Confidential Information of NSi; and 

 

	 	(e)	 the Licensee must deliver to NSi a statutory declaration made by an authorised officer of the Licensee declaring that to the best of that
person’s knowledge and belief (after having made proper inquiries) none of Licensee, its Affiliates and their officers, employees, agents, contractors or advisers have retained any Confidential Information of NSi and that the Licensee has fully
complied with its obligations under clause 19.5(d). 

  

	19.6	 Other remedies 

 Termination of this Agreement by a party under clauses 10.3, 19.3 or 19.4 is without prejudice to each party’s right to sue for and recover any monies then due in respect of any previous breach by
the other party of this Agreement. 
  

	19.7	 Survival 

 Clauses 7.4, 7.5, 7.6, 11.6, 14, 15, 16, 17, 18, 19.5, 19.6, 20.2(b) and 21 survive the termination or expiry of this Agreement for any reason. 

 

	20.	 FORCE MAJEURE 

 
  

	20.1	 Relief for Force Majeure 

  
 28.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 If a party is wholly or partly unable to carry out its obligations under
this Agreement (other than an obligation to pay money) because of Force Majeure, the obligations of that party will be suspended provided that: 
  

	 	(a)	 within a reasonable time after the occurrence of the Force Majeure, the party gives the other party a written notice specifying the Force Majeure;

  

	 	(b)	 the relevant obligations will be suspended only to the extent that the obligations are affected by Force Majeure; 

 

	 	(c)	 the relevant obligations will be suspended during, but no longer than, the continuance of the Force Majeure, and such further period as is
reasonable in the circumstances; and 

  

	 	(d)	 the party giving the notice uses its best efforts to promptly abate the Force Majeure. 

 

	20.2	 Other party may terminate 

  

	 	(a)	 If a party is wholly or partly unable to carry out its obligations under this Agreement due to Force Majeure for a period of more than [ * ], the
other party may terminate this Agreement or the licence of any right in respect of the Licensed IP by giving written notice. 

  

	 	(b)	 Termination under this clause 20.2 is without prejudice to the rights of any party arising before or due to the event giving rise to termination, or
from any breach of this Agreement. 

  

	21.	 DISPUTE RESOLUTION 

 
  

	21.1	 No proceedings 

 If a dispute arises out of or in connection with this Agreement (Dispute), no party may start court or arbitration proceedings (except proceedings seeking urgent interlocutory relief) unless it has
complied with this clause 21. 
  

	21.2	 Dispute resolution 

  

	 	(a)	 A party claiming that a Dispute has arisen must give written notice to the other party giving details of the Dispute (Notification).

  

	 	(b)	 Within [ * ] (or any longer period agreed by the parties) of receipt by the other party of a Notification, the Chief Executive Officers (or
equivalent) of each party must personally or through a nominee attempt in good faith to resolve the Dispute, failing which the parties must seek to agree on an alternative dispute resolution technique to resolve the Dispute.

  

	 	(c)	 If the parties fail to agree on the dispute resolution technique to be used within a further [ * ] (or any longer period agreed by the parties), the
Dispute will be referred to mediation by, and in accordance with the rules of, the Australian Commercial Disputes Centre Limited. The mediation will be conducted in Sydney in the English language. 

 

	 	(d)	 The parties must continue to perform their respective obligations under this Agreement pending the resolution of a Dispute.

  

	 	(e)	 Each party must bear its own costs of complying with this clause 21. 

  
 29.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

	22.	 GENERAL 

 
  

	 	(a)	 This Agreement contains the entire agreement between the parties as to its subject matter and may only be amended in writing signed by all parties.

  

	 	(b)	 Notices must be given to the parties’ addresses set out at the front of this Agreement and in the case of notices regarding accounting issues
to the person specified in the Schedule or as otherwise notified by the parties in writing and must be delivered in person or sent by email, fax or prepaid post (airmail if international). Notices will be deemed to have been received:

  

	 	(i)	 if delivered in person, on the date of delivery; 

  

	 	(ii)	 if sent by email, on receipt by the sender of an acknowledgment indicating that the mail item was read by the recipient;

  

	 	(iii)	 if sent by fax, on production of a transmission report from the sender’s fax machine evidencing that the fax was successfully sent in its
entirety; or 

  

	 	(iv)	 if sent by prepaid post, 3 business days after posting (7 business days if sent to or from a place outside of Australia).

  

	 	(c)	 No delay or indulgence by a party in enforcing this Agreement will prejudice or restrict the rights of that party, nor will a waiver of those rights
operate as a waiver of a subsequent breach. 

  

	 	(d)	 No part of this Agreement is to be construed to the disadvantage of a party because that party was responsible for its preparation.

  

	 	(e)	 Nothing in this Agreement may be construed as creating a relationship of partnership, joint venture employment, principal and agent or trustee and
beneficiary. 

  

	 	(f)	 A party, at the request of another party, must do all things and sign all documents necessary to give effect to this Agreement.

  

	 	(g)	 If any provision of this Agreement is or becomes invalid or unenforceable then, if the provision can be read down to make it valid and enforceable
without materially changing its effect, it must be read down, and otherwise the offending provision must be severed and the remaining provisions will operate as if the provision had not been included. 

 

	 	(h)	 This Agreement is governed by the laws of New South Wales, Australia, and the parties submit to the non-exclusive jurisdiction of the courts of that
State. 

  

	 	(i)	 Each signatory to this Agreement warrants that he or she has authority to bind the party that he or she is stated to represent.

  

	 	(j)	 This Agreement may be executed in any number of counterparts all of which taken together will constitute one agreement.

  
 30.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN
THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF
THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 SCHEDULE 

 

													
	 Commencement Date
	  	 To be updated at end of the Collaborative Research Agreement

		
	 Term
	  	 In respect of each Application, from the Commencement Date until the conditions in clause 19.2 have been met

			
	 Licensed IP
	  	 Patents
	 	
	 	  	 NSi Ref / Tech ID
	  	 Title
	  	 Type of
Patent /
Application
and No.
	  	Date of
Application	 	 
		  	[insert]	  	[insert]	  	[insert]	  	[insert]	 	
		  	[insert]	  	[insert]	  	[insert]	  	[insert]	 	
		
		  	 Know-how -To be updated at end of the Collaborative Research Agreement

		
		  	 Background IP - To be updated at end of the Collaborative Research Agreement

		
		  	 Project IP- To be updated at end of the Collaborative Research Agreement

		
	 Territory
	  	 Worldwide

		
	 Field
	  	 Formulations for oral vaccines. The Licensee acknowledges that [ * ] and [ * ].

		
	 License Fees
	  	 These License Fees are payable in respect of each Application Licensed under this Agreement.

 
 The Licensee will pay NSi the Licence Fees attributed to
each Milestone for each Application licensed under this Agreement as follows:
  
 Milestones are numbered for convenience but may not occur in sequence and are payable when achieved.

						
	 	  	 No
	  	 [ * ]
	  	 Milestone
	  	 	 	 License Fees

		  	1.	  	[ * ]	  	[ * ]	  		 	$ [ * ]
		  	2.	  	[ * ]	  	[ * ]	  		 	$ [ * ]
		  	3.	  	[ * ]	  	[ * ]	  		 	$ [ * ]
		  	4.	  	[ * ]	  	[ * ]	  		 	$ [ * ]

  
 31.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

													
		  	 In addition to the [ * ] Milestones above, a trigger for payment to NSI is payable on [ * ].

							
	 	  	 No
	  	 [ * ]
	  	 Milestone
	  	 	  	 	  	 License Fees

		  	1.	  	[ * ]	  	[ * ]	  		  		  	$ [ * ]
		  	2.	  	[ * ]	  	[ * ]	  		  		  	$ [ * ]
		  	3.	  	[ * ]	  	[ * ]	  		  		  	$ [ * ]
		  	4.	  	[ * ]	  	[ * ]	  		  		  	$ [ * ]
		
	 Royalty For all
 Applications
	  	 [ * ]% of Net Sales

		
	 Royalty Period
	  	 Each calendar quarter ending on 31 March, 30 June, 30 September and 31 December during the Term, or part thereof where the first such period
commences within a quarter or this Agreement terminates prior to the end of a quarter.

		
	 Sub-license Fees
	  	 [ * ]% of any one-off upfront payments or other one-off upfront consideration (other than Royalties, patent re-imbursement expenses or research
funding) received by or due to the Licensee or its Affiliates for and on execution of an agreement sub-licensing the Licensed IP or any part of it to a Sub-licensee (excluding any consideration received by the Licensee from any of its
Affiliates).

		
	 Insurance
	  	 Public liability and product liability insurance: AU$[ * ]

		
	 Minimum

Performance

Obligations
	  	
1.      Exploitation:

 
 The Licensee
must:

		  	 (a)     use its best endeavours to pursue throughout the Territory and
the Field opportunities for the Exploitation of the Licensed IP and the Products; and

		
		  	 (b)     use its best endeavours (whether by itself or through permitted
Sub-licensees, sub-contractors or assignees) to obtain all necessary regulatory approvals for the Exploitation of the Products in the Territory and in the Field;

		
		  	 3.      Application Commercialisation
Plan

		
		  	 For each Application the Licensee must, by the Commercialisation Milestone Dates listed in the Application
Commercialisation Plan, demonstrate to NSi’s satisfaction that the Commercialisation Milestone has been achieved. For this purpose the Commercialisation Milestone is achieved when a substantial [ * ] R&D and/or commercialisation program to
further Exploit the Application, is commenced, conducted and funded by either:

		
		  	 1.      By the Licensee; or

		
		  	 2.      By a 3rd party sub-licensee [ * ].

		
		  	 For the avoidance of doubt, substantiality for the purposes of

  
 32.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

  

					
		  	 Commercialisation Milestone will be measured by NSi against the R&D [ * ] and/or commercialisation [ * ] typically made by pharmaceutical
companies for similar Applications in the Field in the Territory and excludes the Collaborative Research Agreement.

			
	 Accounting Notices
	  	 NSI:
	  	
			
		  	 Contact:
	  	 Chief Financial Officer

		  	 Phone:
	  	 +61 2 9385 6500

		  	 Fax:
	  	 +61 2 9385 6502

			
		  	 Licensee:
	  	
			
		  	 Contact:
	  	 Martin Rogers, Executive Director

		  	 Phone:
	  	 +61 3 9824 5254

		  	 Fax:
	  	 +61 3 9822 7735

		  	 Mobile:
	  	 +61 (0)428 268 357

		  	 Email:
	  	 martin.rogers@primabiomed.com.au

 Executed as an agreement. 
  

					
	 Signed for an on behalf of
 NEWSOUTH INNOVATIONS PTY LIMITED
	 		 	
			
	 	 		 	  
		 		 	Signature of Authorised Officer
			
		 		 	 
		 		 	Print Name
			
		 		 	 
		 		 	Date
		 		 	
	 Signed for an on behalf of
 Prima Biomed Limited
	 		 	 
		 		 	Signature of Authorised Officer
			
		 		 	 
		 		 	Print Name
			
		 		 	 
		 		 	Date

  
 33.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. 

 Commercial Licence Agreement 

 
  

 Annexure 1 

Application Commercialisation Plan 
  

													
	 Application
Name
	  	Application
Description	 	 	Commercialisation
Start
Date	 	 	Commercialisation
Milestone
Date	 
	 [ * ]
	  	 	[ 	* ] 	 	 	[ 	* ] 	 	 	[ 	* ] 
	 [ * ]
	  	 	[ 	* ] 	 	 	[ 	* ] 	 	 	[ 	* ] 
	 [ * ]
	  	 	[ 	* ] 	 	 	[ 	* ] 	 	 	[ 	* ] 
	 [ * ]
	  	 	[ 	* ] 	 	 	[ 	* ] 	 	 	[ 	* ] 
	 [ * ]
	  	 	[ 	* ] 	 	 	[ 	* ] 	 	 	[ 	* ] 

 This Schedule was amended on _____________ by agreement of the parties to the Licence Agreement dated
__________. 
  

					
	 Signed for an on behalf of
 NEWSOUTH INNOVATIONS PTY LIMITED
	 		 	
			
	 	 		 	  
		 		 	Signature of Authorised Officer
			
		 		 	 
		 		 	Print Name
			
		 		 	 
		 		 	Date
		 		 	
	 Signed for an on behalf of
 Prima Biomed Limited
	 		 	 
		 		 	Signature of Authorised Officer
			
		 		 	 
		 		 	Print Name
			
		 		 	 
		 		 	Date

  
 34.

 [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED
IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2
OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00199-of-00352.parquet"}]]