Document:

Form of Prothena Biosciences Inc Incentive Compensation Plan

 Exhibit 10.13 
 PROTHENA BIOSCIENCES INC 
 INCENTIVE COMPENSATION PLAN 

1. Purpose of the Plan. The purpose of the Plan is to provide a link between compensation and performance, to motivate
participants to achieve corporate performance objectives and to enable the Company to attract and retain high quality Eligible Employees. 
 2. Definitions. As used herein, the following definitions shall apply: 

(a) “Affiliated Entity” means any entity other than the Company and its subsidiaries that is designated by the Board or
the Committee as a participating employer under the Plan; provided, however, that the Company directly or indirectly owns at least 20% of the combined voting power of all classes of stock of such entity or at least 20% of the ownership interests in
such entity. 
 (b) “Board” means the Board of Directors of the Company. 

(c) “Bonus” means a cash payment made pursuant to the Plan. 

(d) “Code” means the Internal Revenue Code of 1986, as amended. 

(e) “Committee” means (i) with respect to Bonuses that are not intended to be Performance-Based Compensation, the
Compensation Committee of the Board, or such other Board committee (which may include the entire Board) as may be designated by the Board to administer the Plan, and (ii) with respect to Bonuses that are intended to be Performance-Based
Compensation, a committee that consists of two or more persons appointed by the Board, all of whom shall be “outside directors” as defined under Section 162(m) of the Code and related Treasury Regulations. 

(f) “Company” means Prothena Biosciences Inc, a Delaware corporation. 

(g) “Covered Employee” means an Employee who is a “covered employee” under Section 162(m) of the Code.

 (h) “Director” means a non-Employee member of the Board. 

(i) “Effective Date” means the date that the spin-off of Prothena Corporation plc from Elan Corporation plc is first
effective. 
 (j) “Eligible Employee” means any Employee who is selected for participation in the Plan by the
Committee. 
 (k) “Employee” means any person who is in the employ of the Company, a subsidiary or an
Affiliated Entity, subject to the control and direction of the Company, the subsidiary or the Affiliated Entity as to both the work to be performed and the manner and method of performance. Neither service as a Director nor fees received from the
Company, the subsidiary or the Affiliated Entity for service as a Director shall be sufficient to constitute Employee status. 

 (l) “Long Term Incentive Plan” means the Prothena Corporation plc 2012 Long
Term Incentive Plan (or any successor to that plan). 
 (m) “Performance-Based Compensation” means compensation
qualifying as “performance-based compensation” under Section 162(m) of the Code. 
 (n) “Performance
Goal” means any measurable criterion tied to the success of the Company and based on one or more of the business criteria described in Section 6. 
 (o) “Performance Period” means a fixed period established by the Committee that may range in duration from a minimum period of twelve (12) months to a maximum period of thirty-six
(36) months and over which the attainment of the applicable Performance Goals set by the Committee is to be measured. 

(p) “Plan” means the Prothena Biosciences Inc Incentive Compensation Plan. 

3. Administration of the Plan. 
 (a) The Committee. The Plan shall be administered by the Committee. 
 (b)
Powers of the Committee. Subject the provisions of the Plan (including any other powers given to the Committee hereunder), the Committee shall have the authority, in its discretion, to: 

(i) establish the duration of each Performance Period; 
 (ii) select the Eligible Employees who are to participate in the Plan for such Performance Period; 
 (iii) determine the specific Performance Goals for each Performance Period and the relative weighting of those goals, establish one or more designated levels of attainment for each such goal and set the
Bonus potential for each participant at each corresponding level of attainment; 
 (iv) certify the level at which the
applicable Performance Goals are attained for the Performance Period and determine, on the basis of that certification, the actual Bonus for each participant in an amount not to exceed his or her maximum Bonus potential for the certified level of
attainment; 
 (v) exercise discretionary authority, when appropriate, to reduce the actual Bonus payable to any participant
below his or her Bonus potential for the attained level of the Performance Goals for the Performance Period; 
 (vi) construe
and interpret the terms of the Plan and Bonuses awarded under the Plan; 

  
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 (vii) establish additional terms, conditions, rules or procedures for the administration of
the Plan; provided, however, that no Bonus shall be awarded under any such additional terms, conditions, rules or procedures which are inconsistent with the provisions of the Plan; and 

(viii) take such other action, not inconsistent with the terms of the Plan, as the Committee deems appropriate. 

All decisions and determinations by the Committee shall be final, conclusive and binding on the Company, its subsidiaries, Affiliated Entities, the
participants, and any other persons having or claiming an interest hereunder. 
 (c) Indemnification. In addition to such
other rights of indemnification as they may have as members of the Board, members of the Committee who administer the Plan shall be defended and indemnified by the Company, to the extent permitted by law, on an after-tax basis against (i) all
reasonable expenses (including attorneys’ fees) actually and necessarily incurred in connection with the defense of any claim, investigation, action, suit or proceeding, or in connection with any appeal therein, to which they or any of them may
be a party by reason of any action taken or failure to act under or in connection with the Plan or any Bonus awarded hereunder and (ii) all amounts paid by them in settlement thereof (provided such settlement is approved by the Company) or paid
by them in satisfaction of a judgment in any such claim, investigation, action, suit or proceeding, except in relation to matters as to which it shall be adjudged in such claim, investigation, action, suit or proceeding that such person is liable
for gross negligence, bad faith or intentional misconduct; provided, however, that within 30 days after the institution of such claim, investigation, action, suit or proceeding, such person shall offer to the Company, in writing, the opportunity at
the Company’s expense to handle and defend the same. 
 4. Coverage. All Eligible Employees shall be covered by the
Plan, except to the extent the Committee may elect to exclude one or more Eligible Employees from participation in a designated Performance Period. 
 5. Terms and Conditions of Bonus Awards. 
 (a) Pre-Established
Performance Goals for Bonuses Intended to Qualify as Performance-Based Compensation. Payment of Bonuses intended to qualify as Performance-Based Compensation granted to Covered Employees shall be based solely on account of the attainment of one
or more pre-established, objective Performance Goals over the designated Performance Period. The Committee shall establish one or more objective Performance Goals with respect to each Covered Employee for a Bonus intended to qualify as
Performance-Based Compensation in writing not later than 90 days after the commencement of the Performance Period to which the Performance Goals relate or the date on which twenty-five percent (25%) of such Performance Period has been completed
(or such other date as may be required or permitted under Section 162(m) of the Code), provided that the outcome of the Performance Goals must be substantially uncertain at the time of their establishment. Such Performance Goals shall be based
solely on one or more of the business criteria described in the Section 6 and shall be weighted, equally or in such other proportion as the Committee shall determine at the time such 

  
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Performance Goals are established, for purposes of determining the actual Bonus amounts that may become payable upon the attainment of those goals. For each such Performance Goal, the Committee
may establish one or more designated levels of attainment and set the Bonus potential for each Eligible Employee at each designated performance level. Alternatively, the Committee may establish a linear formula for determining the Bonus potential at
various points of Performance Goal attainment. Under no circumstance, however, shall the aggregate Bonus potential for any participant for any Performance Period exceed the applicable maximum dollar amount set forth in Section 5(d). 

(b) Performance Goals for Bonuses not Intended to Qualify as Performance-Based Compensation. The Performance Goals for Bonuses
awarded to Eligible Employees other than Covered Employees or for Bonuses awarded to Covered Employees, in each case, that are not intended to qualify as Performance-Based Compensation, and the determination of final Bonuses pursuant to the
achievement of Performance Goals, may conform to the requirements set forth above in Section 5(a) or may be based on such other quantitative or qualitative performance goals, as specified by the Committee. Performance Goals may differ for
Bonuses awarded to different Eligible Employees. The Committee may weight the Performance Goals in such manner as the Committee determines at the beginning of the Performance Period. For the avoidance of doubt, Bonuses paid to Eligible Employees who
would have been eligible to receive bonuses from Elan Corporation resulting from their employment by Elan Corporation in calendar year 2012, will be paid pursuant to this Section 5(b) and the terms of such Bonuses shall be consistent with the
terms and conditions under the Elan Corporation bonus plan, subject to the limitations set forth herein and the Committee’s discretion pursuant to Section 5(d) below; provided, however that the amounts of such Bonuses shall not be less
than the amounts determined under the Elan Corporation bonus plan as of the date immediately preceding the Effective Date. 

(c) Committee Certification. As soon as administratively practicable following the completion of the Performance Period, the
Committee shall certify the actual levels at which the Performance Goals for that period have been attained and determine, on the basis of such certified levels, the actual Bonus amount to be paid to each Eligible Employee for that Performance
Period. Such certification shall be final, conclusive and binding on the participant, and on all other persons, to the maximum extent permitted by law. 
 (d) Committee Discretion. Except with respect to Bonuses that are not intended to qualify as Performance-Based Compensation, the Committee, in determining the amount of the Bonus actually to be
paid to an Eligible Employee, shall in no event award a Bonus in excess of the dollar amount determined on the basis of the Bonus potential established for the particular level at which each of the applicable Performance Goals for the Performance
Period is attained. The Committee shall have the discretion to reduce or eliminate the Bonus that would otherwise be payable with respect to one or more Performance Goals on the basis of the certified level of attained performance of those goals. In
exercising its discretion to reduce the Bonus payable to any participant, the Committee may utilize such objective or subjective criteria as the Committee deems appropriate in its sole and absolute discretion. With respect to Bonuses that are not
intended to qualify as Performance-Based Compensation, the Committee shall have discretion to increase the Bonus that would otherwise be payable with respect to one or more Performance Goals on the basis of the certified level of attained
performance of those goals, and 

  
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in exercising its discretion to increase the Bonus payable to any participant, the Committee may utilize such objective or subjective criteria as the Committee deems appropriate in its sole and
absolute discretion. Except with respect to Bonuses that are not intended to qualify as Performance-Based Compensation, the Committee shall not waive any Performance Goal applicable to a participant’s Bonus potential for a particular
Performance Period, provided that, the Committee may, in its sole discretion, waive the Performance Goal for a particular Performance Period in the event of the participant’s death or disability or under such circumstances as the Committee
deems appropriate in the event a Change in Control (as such term is defined in the Long Term Incentive Plan) should occur prior to the completion of that Performance Period. 
 (e) Individual Limitations on Awards. Notwithstanding any other provision of the Plan, the maximum amount of any Bonus paid to a Covered Employee or other Eligible Employee under the Plan shall be
limited to Three Million Dollars ($3,000,000) per each twelve (12)-month period (or portion thereof) included within the applicable Performance Period. 
 (f) Payment Date. Payment of such Bonus amounts shall be made as soon as administratively practicable after the Committee certification, but in any event, no later than March 15 of the year
following the year in which the Performance Period ends. No participant shall accrue any right to receive a Bonus award under the Plan unless that participant remains in Employee status until the end of the applicable Performance Period.
Accordingly, no Bonus payment shall be made to any participant who ceases Employee status prior to the end of the Performance Period for that Bonus; provided, however, that the Committee shall have complete discretion to award a full or pro-rated
Bonus, based on the level at which the applicable Performance Goals are attained for the Performance Period, to a participant who ceases Employee status prior to the end of such Performance Period by reason of death, disability or a termination of
employment by the Company without cause, in each case, as determined by the Committee. Notwithstanding the foregoing, with respect to a Bonus payable for a 12 month Performance Period commencing January 1, an Eligible Employee must have
maintained Employee status until at least October 1 of such Performance Period to be eligible to receive a Bonus for such Performance Period. 
 (g) Withholding Tax. To the extent required by applicable federal, state, local or foreign law, each employer shall withhold all applicable taxes from all Bonus amounts. 

6. Business Criteria. 
 (a) Permitted Criteria. Performance Goals established by the Committee may be based on any one of, or combination of, the following: stock price, earnings per share, price-earnings multiples, net
earnings, operating earnings, revenue, number of days sales outstanding in accounts receivable, productivity, margin, EBITDA (earnings before interest, taxes, depreciation and amortization), net capital employed, return on assets, shareholder
return, return on equity, return on capital employed, growth in assets, unit volume, sales, cash flow, market share, relative performance to a comparison group designated by the Committee, or strategic business criteria consisting of one or more
objectives based on meeting specified revenue goals, market penetration goals, customer growth, geographic business expansion goals, cost targets or goals relating to acquisitions or divestitures. Such Performance Goals may be measured not only

  
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in terms of the Company’s performance but also in terms of its performance relative to the performance of other entities or may be measured on the basis of the performance of any of the
Company’s business units or divisions or any parent or subsidiary entity. Performance may also be measured on an absolute basis, relative to internal business plans, or based on growth. As may be applicable, they may also be measured in
aggregate or on a per-share basis. Performance Goals need not be uniform as among participants. 
 (b) Authorized
Adjustments. To the extent applicable, subject to the following sentence and unless the Committee determines otherwise, the determination of the achievement of Performance Goals shall be determined based on the relevant financial measure,
computed in accordance with U.S. generally accepted accounting principles (“GAAP”), and in a manner consistent with the methods used in the Company’s audited financial statements. To the extent permitted by Section 162(m) of the
Code, if applicable, in setting the Performance Goals within the period prescribed in Section 5(a), the Committee may provide for appropriate adjustment as it deems appropriate, including for one or more of the following items: asset
write-downs; litigation or claim judgments or settlements; changes in accounting principles; changes in tax law or other laws affecting reported results; changes in commodity prices; severance, contract termination, and other costs related to
exiting, modifying or reducing any business activities; costs of, and gains and losses from, the acquisition, disposition, or abandonment of businesses or assets; gains and losses from the early extinguishment of debt; gains and losses in connection
with the termination or withdrawal from a pension plan; stock compensation costs and other non-cash expenses; any extraordinary non-recurring items as described in applicable Accounting Principles Board opinions or Financial Accounting Standards
Board statements or in management’s discussion and analysis of financial condition and results of operation appearing in the Company’s annual report to stockholders for the applicable year; and any other specified non-operating items as
determined by the Committee in setting Performance Goals. 
 7. Effective Date and Term of Plan. The Plan is effective as
of the Effective Date. Assuming that such stockholder approval is obtained, the Plan shall continue in effect until the Board terminates it or until stockholder approval again is required for the Plan to meet the requirements of Code
Section 162(m) but is not obtained. 
 8. Amendment, Suspension or Termination of the Plan. The Board may at any
time amend, suspend or terminate the Plan. However, any amendment or modification of the Plan shall be subject to stockholder approval to the extent required under Code Section 162(m) or other applicable law or regulation. 

9. General Provisions. 
 (a) Transferability. No participant in the Plan shall have the right to transfer, alienate, pledge or encumber his or her interest in the Plan, and such interest shall not (to the maximum permitted
by law) be subject to the claims of the participant’s creditors or to attachment, execution or other process of law. However, should a participant die before payment is made of the actual Bonus to which he or she has become entitled under the
Plan, then that Bonus shall be paid to the executor or other legal representative of his or her estate. 

  
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 (b) No Rights to Employment. Neither the action of the Company in establishing or
maintaining the Plan, nor any action taken under the Plan by the Committee, nor any provision of the Plan itself shall be construed so as to grant any person the right to remain in Employee status for any period of specific duration, and each
participant shall at all times remain an Employee at-will and may accordingly be discharged at any time, with or without cause and with or without advance notice of such discharge. 

(c) Acknowledgement of Authority. All Bonuses shall be awarded conditional upon the participant’s acknowledgement, by
participation in the Plan, that all decisions and determinations of the Committee shall be final and binding on the participant, his or her beneficiaries and any other person having or claiming an interest in such Bonus. 

(d) Company Policies. All Bonuses under the Plan shall be subject to any applicable clawback or recoupment policy of the Company
adopted from time to time by the Board. 
 (e) Unfunded Obligation. Eligible Employees eligible to participate in the
Plan shall have the status of general unsecured creditors of the Company. Any amounts payable to such Employees pursuant to the Plan shall be unfunded and unsecured obligations for all purposes, including (without limitation) Title I of the Employee
Retirement Income Security Act of 1974, as amended. The Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. Employees shall have
no claim against the Company for any changes in the value of any assets that may be invested or reinvested by the Company with respect to the Plan. 
 (f) Reliance on Reports. Each member of the Committee shall be fully justified in relying or acting in good faith upon any report made by the independent public accountants of the Company and its
subsidiaries or Affiliated Entities and upon any other information furnished in connection with the Plan by any person or persons other than himself or herself. In no event shall any person who is or shall have been a member of the Committee or of
the Board be liable for any determination made or other action taken or any omission to act in reliance upon any such report or information or for any action taken, including the furnishing of information, or failure to act, if in good faith.

 (g) Successors. The terms and conditions of the Plan, together with the obligations and liabilities of the Company
that accrue hereunder, shall be binding upon any successor to the Company, whether by way of merger, consolidation, reorganization or other change in ownership or control of the Company. 

(h) Section 409A. The Plan is intended to comply with the short-term deferral rule set forth in the regulations under
Section 409A of the Code in order to avoid application of Section 409A of the Code to the Plan. If and to the extent that any payment under this Plan is deemed to be deferred compensation subject to the requirements of Section 409A of
the Code, this Plan shall be administered so that such payments are made in accordance with the requirements of Section 409A of the Code. If an award is subject to Section 409A of the Code, (i) distributions shall only be made in a
manner and upon an event permitted under Section 409A of the Code, (ii) payments to be made upon a termination of employment shall only be made upon a “separation from service” under Section 409A of the Code, and
(iii) in no event shall a 

  
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participant, directly or indirectly, designate the calendar year in which a distribution is made except in accordance with Section 409A of the Code. Any award granted under the Plan that is
subject to Section 409A of the Code and that is to be distributed to a key employee (as defined below) upon separation from service shall be administered so that any distribution with respect to such award shall be postponed for six months
following the date of the participant’s separation from service, if required by Section 409A of the Code. If a distribution is delayed pursuant to Section 409A of the Code, the distribution shall be paid within 30 days after the end
of the six-month period. If the participant dies during such six-month period, any postponed amounts shall be paid within 90 days of the participant’s death. The determination of key employees, including the number and identity of persons
considered key employees and the identification date, shall be made by the Committee or its delegate each year in accordance with Section 416(i) of the Code and the “specified employee” requirements of Section 409A of the Code.

 (i) Conformity to Section 162(m) of the Code for Bonuses to Covered Employees Intended to Qualify as
Performance-Based Compensation. With respect to Bonuses awarded to Covered Employees intended to qualify as Performance-Based Compensation, terms used in the Plan shall be interpreted in a manner consistent with Section 162(m) of the Code
and regulations thereunder (including Treasury Regulation Section 1.162-27). If any provision of the Plan with respect such Bonuses or any agreement evidencing such Bonuses hereunder does not comply or is inconsistent with the provisions of
Section 162(m)(4)(C) or regulations thereunder (including Treasury Regulation Section 1.162-27(e)) required to be met in order that compensation (other than post-termination compensation) shall constitute Performance-Based Compensation,
such provision shall be construed or deemed amended to the extent necessary to conform to such requirements, and no adjustment to a Bonus or its related Performance Goals shall be authorized or made, and no post-termination payment shall be
authorized or made under Section 5(f), if and to the extent that such authorization or the making of such adjustment or payment would contravene such requirements. 
 (j) Governing Law. The validity, construction, interpretation and effect of the Plan shall be governed and construed by and determined in accordance with the laws of the State of Delaware,
without giving effect to the conflict of laws provisions thereof. 
 IN WITNESS WHEREOF,
                                        , by its
duly authorized officer acting in accordance with a resolution duly adopted by the Board of Directors of Prothena Biosciences Inc., has executed this Plan on
                                , 2012, effective as of the Effective Date. 

  
 8License Agreement

 Exhibit 10.14 
 LICENSE AGREEMENT 
 between 

UNIVERSITY OF TENNESSEE RESEARCH FOUNDATION 
 and 
 ELAN PHARMACEUTICALS INC. 

This License Agreement (“Agreement”) is made and entered into this 31st day of December, 2008 (“Effective Date”) by and
between the UNIVERSITY OF TENNESSEE RESEARCH FOUNDATION, having an office at 1534 White Avenue, Knoxville, TN 37996 (“UTRF”), and Elan Pharmaceuticals Inc., a corporation organized and existing under the laws of the State of
Delaware having an address of 800 Gateway Boulevard, South San Francisco, CA 94080 (“Licensee”). 
 RECITALS:

 WHEREAS, UT (defined below) has assigned its rights in the Licensed Technology (defined below) to UTRF for administration;

 WHEREAS, Licensee desires to utilize and commercialize the Licensed Technology in the Field of Use (defined below) and is
willing to expend commercially reasonable efforts and resources to do so upon the grant of a license to use the Licensed Technology under the terms and conditions set forth herein; and 

WHEREAS, UTRF desires to transfer the Licensed Technology in the Field of Use for the ultimate benefit of the public and believes that
such transfer will be facilitated by the grant of a license to Licensee under the terms and conditions set forth herein. 
 NOW,
THEREFORE, in consideration of the recitals, covenants, conditions, and undertakings contained herein, the parties hereto agree as follows: 
 ARTICLE 1 
 DEFINITIONS 

When used in this Agreement, the following terms shall have the meanings set out below. The singular shall be interpreted as including
the plural and vice versa, unless the context clearly indicates otherwise. 
 Section 1.1 “Action” shall
have the meaning set forth in Article 8.1(a) hereof. 
 Section 1.2 “Affiliate” means any
corporation, partnership, or other entity that at any time during the Term of this Agreement, directly or indirectly Controls or is Controlled by or is under common Control with a party to this Agreement, but only for so long as the relationship
exists. A corporation or other entity shall no longer be an Affiliate when through loss, divestment, dilution or other reduction of ownership, the requisite Control no longer exists. 

 Section 1.3 “Annual Maintenance Fee” shall have the meaning set forth
in Article 5.1(b) hereof. 
 Section 1.4 “Control” or “Controls” or
“Controlled” means: in the case of a corporation, ownership or control, directly or indirectly, of at least fifty-one percent (51%) of the shares of stock entitled to vote for the election of directors: or (ii) in the case
of an entity other than a corporation, ownership or control, directly or indirectly, of at least fifty-one percent (51%) of the assets of such entity. 
 Section 1.5 “Federal Policy” shall have the meaning set forth in Article 2.2 hereof. 
 Section 1.6 “Field of Use” means any and all diagnostic or therapeutic applications directed toward identification or treatment of disease. 

Section 1.7 “Indemnified Party” shall have the meaning set forth in Article 9.1 hereof. 

Section 1.8 “Instituting Party” shall have the meaning set forth in Article 8.2 hereof. 

Section 1.9 “License” shall have the meaning set forth in Article 2.1 hereof. 

Section 1.10 “License Issue Fee” shall have the meaning set forth in Article 5.1(a) hereof. 

Section 1.11 “Licensed Know-How” means, except to the extent published or otherwise generally known to the public,
any technical data, information, knowledge, methods, or processes: (i) developed by a UT Contributor in the course of employment by UT; (ii) owned or controlled during the Term by UTRF; (iii) disclosed to Licensee by a UT Contributor
or UTRF; and (iv) necessary or reasonably useful for the practice of any of the Licensed Patents. 
 Section 1.12
“Licensed Patents” means: 
 (a) Any United States and foreign patents and/or patent applications listed in
Appendix A; 
 (b) Any divisionals, continuations, continuations-in-part, or other patent applications throughout the Territory
arising from or claiming priority to or the benefit of any applications described in (a) above; 
 (c) Any United States
and foreign patents issued from any applications described in (a) or (b) above; 

  
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 (d) Any claims of United States and foreign patent applications (including, without
limitation, continuations-in-part of patent applications or patents described in (a) or (b) above), and of the resulting patents (i) that are directed to subject matter claimed in the patents or patent applications described in (a),
(b), or (c) above, and (ii) that UTRF has the right to license hereunder; and 
 (e) Any reissues, extensions,
substitutions, renewals, patents-of-addition, re-examinations, restorations, supplemental protection certificates of any United States patent or any patent resulting from equivalent foreign procedures with respect to any foreign patent described in
(a), (b), (c), or (d) above. 
 Section 1.13 “Licensed Product” means any product, method, procedure,
service, or process whose manufacture, use, sale, lease, or import: 
 (a) Is covered by a Valid Claim of the Licensed Patents
in the country in which such product, method, procedure, service, process, or part thereof is manufactured, used, sold, leased, or imported; or 
 (b) Is derived from, made with, uses, or incorporates, in whole or in part Licensed Know-How. 
 Section 1.14 “Licensed Technology” means Licensed Products, Licensed Patents, and Licensed Know-How. 
 Section 1.15 “Net Sales” means: 
 (a) The gross receipts
received by Licensee, Licensee’s Affiliates, or Sublicensees from the use, sale, lease, or other transfer or disposition (including, without limitation, the performance of services utilizing the Licensed Technology) to an independent third
party who is not a sublicensee or an Affiliate of a Party or Sublicensee (hereinafter “Sale”) of a Licensed Product, less the following deductions; provided they actually pertain to the Sale of Licensed Products and are
separately invoiced: 
 (i) refunds actually given in connection with the Sale in amounts customary in the trade
for quantity purchases, cash payments, and prompt payments; 
 (ii) refunds actually given for Licensed Products
that are rejected, returned, or destroyed by customers; 
 (iii) sales, tariff duties and/or use taxes directly
imposed and with reference to a particular Sale (but not including income taxes), to the extent included in gross receipts; 
 (iv) outbound transportation expenses (including insurance relating thereto) directly related to the Sale, to the extent included in gross receipts; 

(v) charge back payments and rebates granted to (i) managed health care organizations, (ii) federal, state
and/or local governments or their agencies, (iii) purchasers and reimbursers, or (iv) trade customers, including without limitation, wholesalers and chain and pharmacy buying groups; and 

  
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 (vi) the cost of export licenses, import duties, value added tax, and
prepaid freight directly related to the Sale, to the extent included in gross receipts. 
 (b) For purposes of
the calculation of Net Sales: 
 (i) no deductions shall be made for any other costs or expenses, including
commissions paid to individuals whether they are with independent sales agencies or regularly employed by Licensee or a Sublicensee; 
 (ii) “Net Sales” shall not include the gross amounts from the Sale of any Licensed Products to any Sublicensee unless such Sublicensee is an end-user of such Licensed Products
(i.e., Sublicensee’s purchase of Licensed Products is not for the purpose of resale). If such Sublicensee is an end-user, such consideration shall be included in Net Sales at the greater of the actual selling price or the average selling
price charged to a third party. 
 Section 1.16 “Patent Expenses” means all fees, costs and expenses
(including, without limitation, the professional fees of US and foreign patent counsel) relating to the filing, prosecution and maintenance of the Licensed Patents. For purposes of clarification, included Patent Expenses are any and all fees, costs,
and expenses incurred before or after issuance of the Licensed Patents, including, without limitation, fees, costs, and expenses incurred in association with any reissue or reexamination of a Licensed Patent, any interference or opposition
proceeding involving one or more Licensed Patents, or any extension or request for extension of the term of one or more Licensed Patents. 
 Section 1.17 “Publication” shall have the meaning set forth in Article 17 hereof. 
 Section 1.18 “Royalty Percentage” shall have the meaning set forth in Article 5.1(d) hereof. 
 Section 1.19 “Running Royalties” shall have the meaning set forth in Article 5.1(d) hereof. 
 Section 1.20 “Sponsored Research Agreement” or “SRA” shall mean that certain sponsored research agreement effective as of September 20, 2006 by and between UT,
UTRF and Licensee, as amended September 20, 2007. 
 Section 1.21 “Sublicense” means a direct grant
of right, license, or option to the Licensed Technology from Licensee to a third party and any further sublicense at any tier. 

Section 1.22 “Sublicensee” means any recipient of a Sublicense. 

Section 1.23 “Sublicense Revenue” means all payments received by Licensee and its Affiliates pursuant to each
Sublicense, including, without limitation, up-front fees, milestone payments, and license maintenance fees. Notwithstanding the foregoing, running royalties received by Licensee or its Affiliates that are calculated as a percentage of
Sublicensee’s Net Sales are not included in Sublicense Revenue. 

  
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 Section 1.24 “Sublicense Royalties” shall have the meaning set forth
in Article 5.1(e) hereof. 
 Section 1.25 “Term” shall have the meaning set forth in
Article 14.1 hereof. 
 Section 1.26 “Territory” means the world, subject to the provisions of
Article 7.3. 
 Section 1.27 “UT” means The University of Tennessee, an educational agency of the
State of Tennessee. 
 Section 1.28 “UT Contributor” means Dr. Jonathan Wall (“Dr.
Wall”) or Dr. Alan Solomon (“Dr. Solomon”) or any employee of UT under the supervision of Dr. Wall and/or Dr. Solomon. 
 Section 1.29 “Valid Claim” means (a) a claim of an issued patent which (i) has not expired and which has not been held revoked, invalid or unenforceable by decision of a
court or other governmental agency of competent jurisdiction, unappealable or unappealed with the time allowed for appeal having expired, and (ii) which has not been admitted to be invalid through reissue or disclaimer or otherwise; or
(b) a claim of a pending patent application which (i) was filed in good faith; and (ii) has not been pending for more than eight (8) years. 
 ARTICLE 2 
 GRANT 

Section 2.1 Grant of License. During the Term hereof, and subject to the terms and conditions of this Agreement, UTRF hereby
grants to Licensee: 
 (a) an exclusive (even as to UT and UTRF, subject to any rights expressly reserved in this Agreement),
research and commercial right and license in the Field of Use, with the right to grant Sublicenses, under UTRF’s rights in Licensed Patents to practice under the Licensed Patents; and 

(b) an exclusive (even as to UT and UTRF, subject to any rights expressly reserved in this Agreement), commercial right and license in
the Field of Use, with the right to grant Sublicenses, to utilize the Licensed Know-How for the purpose of practicing under the Licensed Patents (collectively, the “License”). 

Section 2.2 Limitations on the Rights Granted. (a) Federal Government Rights. To the extent that any invention
included within the Licensed Technology has been or is in the future funded in whole or in part by the United States government, the United States government retains certain rights in such inventions as set forth in 35 U.S.C. §§200-212 and
all regulations promulgated thereunder, as amended, and any successor statutes and regulations 

  
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(“Federal Policy”). As a condition of the License granted hereby, Licensee acknowledges and shall comply with all aspects of Federal Policy applicable to the Licensed Technology,
including the obligation that Licensed Products used or sold in the United States be manufactured substantially in the United States. Nothing contained in this Agreement obligates UTRF to take any action that would conflict in any respect with its
or UT’s past, current or future obligations to the United States government under Federal Policy. To the best of its actual knowledge as of the Effective Date, no invention included within the Licensed Technology has been or will be in the
future funded in whole or in part by the United States Government. In the event that UTRF becomes aware of any such funding of the Licensed Technology by the United States Government, UTRF shall provide prompt notice thereof to Licensee. 

(b) Reserved Rights. The License is expressly made subject to UTRF’s and UT’s reserved right to practice under the
Licensed Patents in the Field of Use for its own non-commercial academic research and teaching purposes. 
 (c) Licensed
Know-How Limitation. UTRF shall have no obligation to provide Licensee with Licensed Know-How or Licensed Materials, or to provide technical assistance in the exercise of the License. In the event Licensee requires technical assistance with
respect to the activities conducted by Licensee pursuant to this Agreement, obtaining such technical assistance (whether from the UT Contributor or otherwise) shall be Licensee’s responsibility and at Licensee’s expense. 

Section 2.3 Applicability. Nothing in this Agreement shall be construed to confer any rights upon Licensee by implication,
estoppel, or otherwise as to any patent rights other than the Licensed Patents and Licensed Know-How, regardless of whether such other rights shall be dominant or subordinate to any Licensed Patents. 

ARTICLE 3 

SUBLICENSES 
 Section 3.1 Rights and Requirements. Licensee shall have the right to sublicense the rights granted to Licensee under this Agreement; provided that: 

(a) Licensee shall remain liable to UTRF for the full and timely performance of this Agreement, including for any activities by any
Sublicensee, including without limitation any Running Royalties due for Net Sales of a Licensed Product by any Sublicensee. No Sublicense shall relieve Licensee of any of its obligations under this Agreement. 

(b) This Agreement is in effect and Licensee is not in breach of its obligations under this Agreement; 

(c) All Sublicenses granted by Licensee under this Agreement shall conform to this Agreement in the following respects: 

(i) Licensee shall not grant any rights to a third party that are inconsistent with Licensee’s rights and obligations
under this Agreement; 

  
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 (ii) Any Sublicense granted by Licensee shall, in addition to such
provisions as Licensee deems appropriate for its own benefit, include definitions and provisions on royalties, diligence, confidentiality and publicity, reporting and audit requirements, indemnification, insurance and warranties, patent notices, and
use of names consistent with Licensee’s rights and obligations under this Agreement; 
 (iii) Any act or
omission of a Sublicensee which would constitute a breach of this Agreement if it were the act or omission of Licensee shall be defined as an Event of Default in the Sublicense, subject to the same cure provisions in favor of Sublicensee as are
otherwise provided herein for breach by Licensee. 
 (iv) Sublicenses shall include such other provisions as are
needed to enable Licensee to comply with this Agreement. 
 (d) Licensee shall provide UTRF with a copy of each executed
Sublicense Agreement within thirty (30) days of its execution. 
 Section 3.2 Special Termination Rules. Upon
termination of this Agreement, each Sublicense shall be governed by Article 14 of this Agreement. 
 Section 3.3
Failure to Conform to this Article. Licensee’s failure to conform any Sublicense to this Article will have the following effects: 
 (a) The non-conforming Sublicense will be voidable at UTRF’s sole discretion; provided that UTRF has provided written notice to Licensee and within 60 days of such notice from UTRF, Licensee
fails to cure such non-conformance of the Sublicense; and 
 (b) Said failure will constitute a material breach of this
Agreement subject to the termination provisions of Article 14 of this Agreement. 
 ARTICLE 4 

DILIGENCE 

Section 4.1 Diligence. Licensee shall use its commercially reasonable efforts to proceed diligently to research, develop and
commercialize the Licensed Technology in the Field of Use. 
 ARTICLE 5 

ROYALTIES AND OTHER PAYMENTS 
 Section 5.1 Fees and Royalties. For the rights, privileges and License granted hereunder, Licensee shall pay to UTRF the following fees and royalties in the manner hereinafter provided until
this Agreement expires or is terminated. 

  
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 (a) License Issue Fee. Within 30 days of the Effective Date, Licensee shall pay to
UTRF the non-refundable sum of $10,000 (“License Issue Fee”). 
 (b) Annual Maintenance Fee. Licensee
shall pay UTRF, in addition to all other amounts payable hereunder, a non-refundable license maintenance fee in the amount of $10,000 on the first anniversary of the Effective Date, $10,000 on the second anniversary of the Effective Date, $25,000 on
the third anniversary of the Effective Date, and $25,000 on the anniversary of the Effective Date each year thereafter during the Term (“Annual Maintenance Fee”). 

(c) Reserved. 
 (d) Running Royalties. In addition to all other amounts payable hereunder, Licensee shall pay to UTRF an amount equal to one percent (1%) (the “Royalty Percentage”) of Net
Sales of any Licensed Product covered by a Valid Claim of a Licensed Patent (“Running Royalties”). Payment of Running Royalties shall be made on a semi-annual basis by the last day of July, and January each year on Net Sales
occurring during the immediately preceding calendar quarter. For example, payment of Running Royalties will be due by the last day of January on Net Sales occurring during the last half (July through December) of the immediately preceding calendar
year. Notwithstanding the foregoing, Licensee shall owe no Running Royalties on any Sale that does not take place during the Term of this Agreement. For purposes of determining whether a Sale takes place during the Term of this Agreement, a Sale
shall be deemed to occur upon the earlier of the shipment of a Licensed Product or invoicing. 
 (e) Sublicense
Royalties. In addition to all other amounts payable hereunder, Licensee shall pay to UTRF Sublicense Royalties equal to the Royalty Percentage of Sublicense Revenue (“Sublicense Royalties”) attributable to Patent Rights (the
“Attributable Amount”). The Attributable Amount shall be the total amount of Sublicense Revenue divided by the number of total patents licensed in the Sublicense multiplied by the number of patents in Licensed Patents;
provided, however, that in no event shall the Attributable Amount be less than one third (1/3) of the Royalty Percentage. Payment of Sublicense Royalties shall be made on a semi-annual basis by the last day of July and January
each year on Sublicense Revenue generated during the immediately preceding calendar half year. For example, payment of Sublicense Royalties will be due by the last day of July on Sublicense Revenue occurring during the first half (January through
June) of the same calendar year. 
 Section 5.2 Maximum Royalties. In the event that any royalties payable under
this Agreement are higher than the maximum royalties permitted by the law or regulations of a particular country: 
 (a) The
Running Royalties payable for Licensee’s Net Sales in such country shall be equal to the maximum permitted royalty under such law or regulations; 
 (b) Notice documenting that Running Royalties payable under this Agreement are higher than a country’s maximum royalties shall be provided to UTRF; 

  
 -8-

 (c) An authorized representative of Licensee shall notify UTRF, in writing, within 30 days
of discovering that such Running Royalties are approaching or have reached the maximum amount; and 
 (d) Licensee shall provide
UTRF with written documentation regarding the laws or regulations establishing any such maximum. 
 Section 5.3 Effect
of Taxes on Royalties. In the event that any taxes are levied by any foreign taxing authority on Running Royalties payable by Licensee under this Agreement, and Licensee determines in good faith that it must pay such taxes: 

(a) Licensee shall have the right to pay such taxes levied on Running Royalties to the local tax authorities on behalf of UTRF;

 (b) Licensee shall pay the net amount of Running Royalties due after reduction by the amount of such taxes that are actually
owed and paid; 
 (c) Licensee shall provide UTRF with appropriate documentation and receipts supporting such payment; and

 (d) Licensee shall inform UTRF in writing within thirty (30) days of being notified that taxes will or have been levied
by a taxing authority on Running Royalties. 
 Section 5.4 Late Payments. In the event any payments are not received
by UTRF when due, Licensee shall pay to UTRF interest on the overdue balance at the lesser of 1% per month or the maximum rate of interest allowed by law. Licensee shall also pay all reasonable collection costs at any time incurred by UTRF in
obtaining payment of amounts past due, including reasonable attorneys fees. The payment of such interest shall not foreclose UTRF from exercising any other rights it may have as a consequence of the lateness of any payment. 

Section 5.5 Payment Shortage. If an examination of records provided under Article 6 of this Agreement reveals a payment
shortage of greater than 5% of the total amount due under any one royalty payment, Licensee shall promptly reimburse UTRF for the reasonable cost of examination, the shortage in payment, and the interest accrued on the shortage under
Article 5.4 of this Agreement. 
 Section 5.6 Manner of Payments. All payments shall be paid in United States
dollars and sent to the notice address under Article 16.1, or at such other place as UTRF may reasonably designate consistent with the laws and regulations controlling in the United States or any foreign country. If any currency conversion
shall be required in connection with the payment of royalties hereunder, such conversion shall be made by using the exchange rate listed in the Wall Street Journal for major New York banks on the last business day of the calendar quarter to which
such royalty payments relate. If the transfer of moneys owed to UTRF or the conversion into United States Dollar equivalents in any such instance is not lawful or possible, the payment of such part of the royalties as is necessary shall be made by
the deposit thereof, in the currency of the country where the sales were made on which the royalty was based, to the credit and account of UTRF or its nominee in any commercial bank or trust company of its choice located in that country, prompt
notice of which shall be given by Licensee to UTRF. 

  
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 Section 5.7 Event of Default. Licensee’s failure to make any payment will
constitute a material breach of this Agreement subject to the termination provisions of Article 14 of this Agreement. 

Section 5.8 Effect of Receipt or Acceptance. Receipt or acceptance by UTRF of any payment or report under this Agreement
shall not prevent UTRF from subsequently challenging the validity or accuracy of such payment or report. 
 ARTICLE 6

 REPORTS AND RECORDS 
 Section 6.1 Books of Account. Licensee shall keep, and shall require each Sublicensee to keep, full, true and accurate books of account containing all particulars necessary to determine and
show the amounts payable to UTRF hereunder. Licensee shall keep all books of account at its principal place of business or, upon written notice to UTRF, the principal place of business of its appropriate division to which this Agreement relates and
shall require the same of each Sublicensee. Licensee shall ensure that its books are open at all reasonable times for five (5) years following the end of the calendar year to which they pertain, to the inspection by UTRF or its agents, upon
reasonable notice and no more than once in any calendar year, for the purpose of verifying compliance with this Agreement, and Licensee shall require the same of each Sublicensee. 

Section 6.2 Delivery of Reports. Licensee shall deliver to UTRF true and accurate reports, relating to the business conducted
by Licensee and its Sublicensees under this Agreement as set forth in Article 6.3: 
 (a) Before the first commercial use
or sale of a Licensed Product or the granting of the first Sublicense under this Agreement (whichever occurs first), annually, on January 31 of each year; and 
 (b) After the first commercial use or sale of a Licensed Product or the granting of the first Sublicense under this Agreement, on a semi-annual basis by the last day of July and January each year on
relevant business conducted by Licensee during the immediately preceding calendar half year. 
 Section 6.3 Content of
Reports. Reports shall include at least the following on a Licensed Product-by-Licensed Product, country-by-country, and Sublicense-by-Sublicense basis: 
 (a) The number/amount of Licensed Products, used, leased, sold, and imported by and/or for Licensee and each Sublicensee; and 
 (b) Total amounts invoiced and total amounts received for Licensed Products used, leased, and sold by and/or for Licensee and all Sublicensees; and 

(c) Accounting for Net Sales of Licensee and each Sublicensee; and 

  
 -10-

 (d) A copy of each statement or report submitted to Licensee by a Sublicensee;
provided that such statement or report has not previously been provided by Licensee to UTRF; and 
 (e) Total amount due
under this Agreement (including, without limitation, the manner in which all royalties were calculated and a breakdown for each type of royalties listed in Article 5 and their respective amounts payable); and 

(f) The current status of any regulatory activities pertaining to Licensed Products; and 

(g) The name, address, and phone number of each Sublicensee and the Licensed Patents licensed to each Sublicensee (including the named
inventors of each of the Licensed Patents being sublicensed) as of the last date of the reporting period; and 
 (h) Upon
reasonable request by UTRF, a summary report describing the compliance by Licensee with the diligence provisions of Article 4.1; and 
 (i) If no payment shall be due, Licensee shall so report. 
 Section 6.4
Responsibility for Accuracy. Licensee shall be responsible for completeness and accuracy of its own records and reports as well as those of each Sublicensee. Each report submitted to UTRF by Licensee shall be signed by a duly authorized
officer of Licensee or of the respective Sublicensee as appropriate. 
 ARTICLE 7 

PATENT PROSECUTION 
 Section 7.1 Rights and Duties. (a) During the Term and subject to consultation with UTRF, Licensee will be responsible for preparing, applying for, seeking issuance of, and maintaining
patent applications and issued patents included in Licensed Patents in such countries as it deems appropriate for its business objectives and for prosecuting or defending interferences, oppositions, and reexaminations declared with regard to patent
applications and issued patents included in such Licensed Patents. Licensee will notify UTRF before taking any substantive actions. 
 (b) UTRF shall make, execute and deliver any and all instruments and documents and perform any and all acts, necessary to obtain and maintain Licensed Patents in any and all countries. All costs and
expenses of application and prosecution of such Licensed Patents shall be paid by Licensee. 
 (c) In the event that Licensee
elects not to file, prosecute, or maintain any Licensed Patent in the Territory, Licensee shall so notify UTRF of such decision no later than thirty (30) days before any applicable statutory bar date or response date, as the case may be, to
permit UTRF (at its own expense) to prosecute and/or maintain the patent application(s) and/or patent(s) that were the subject of such notice. 

  
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 Section 7.2 Patent Numbering. Licensee and all its Sublicensees shall mark all
products covered by Licensed Patents with patent numbers in accordance with the statutory requirements in the country(ies) of manufacture, use, and sale. 
 Section 7.3 Exclusion of Certain Foreign Patents. In order that Licensee will not incur expenses for foreign Licensed Patents that it considers unnecessary to its business objectives, Licensee
may notify UTRF in writing of particular countries that it wishes to exclude from the License. From and after the date of such notice: 
 (a) Licensee shall have no rights, privileges, or license under this Agreement in the specified country(ies); 
 (b) Licensee shall have no responsibility for expenses incurred in the filing, prosecution, or maintenance of Licensed Patents in the specified country(ies); 

(c) Licensee agrees that it will not thereafter manufacture, use, sell, lease, or import Licensed Products in the specified country(ies).

 (d) The specified country(ies) will be automatically deleted from the definition of Territory; and 

(e) All patents and patent applications in the specified country(ies) will be automatically deleted from the Licensed Patents.

 ARTICLE 8 
 INFRINGEMENT 
 Section 8.1 Enforcement. If either Licensee or
UTRF becomes aware of any infringement of the Licensed Patents by a third party, the party having the knowledge will give the other party prompt written notice. 
 (a) Licensee. Licensee shall have the first right during the Term, at its sole cost and expense, to commence any action that Licensee deems appropriate, including notifying the infringer to cease
and desist all such infringing activity, filing a complaint and/or instituting an action or a lawsuit for any known or suspected third party activity that may infringe the Licensed Patents (each, an “Action”), and, in furtherance of
such right, UTRF hereby agrees that Licensee may include UTRF as a party plaintiff in any such Action, without expense to UTRF. In the event Licensee commences an Action, UTRF shall retain the right, at its own expense, to join such Action as a
co-litigant. 
 (b) UTRF. Should Licensee fail to commence and pursue any particular Action, then UTRF may commence, at
its sole cost and expense, such Action as UTRF deems appropriate; provided that: 
 (i) UTRF gives
Licensee a written 60-day notice of its intention to initiate such Action; and 

  
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 (ii) Licensee fails to initiate said suggested Action within said 60 day notice period; and

 (iii) Licensee shall retain the right to join such Action as a co-litigant. 

Section 8.2 Cooperation. Upon the request of the party that institutes an Action (the “Instituting Party”),
the other party (the “Co-Party”) shall: 
 (a) Join any such Action as a necessary party; and 

(b) Use its commercially reasonable efforts to assist and cooperate with the Instituting Party in such Action. 

The Instituting Party shall reimburse the Co-Party for any reasonable and pre-approved costs related to such assistance and cooperation.

 Section 8.3 Recovery of Damages. After reimbursement of the parties’ previously unreimbursed out-of-pocket
expenses of such Action or any previous Action, any remaining recovery of damages resulting from any Action shall be retained by the Instituting Party. 
 Section 8.4 Declaratory Judgment Action. In the event that a declaratory judgment action alleging invalidity or noninfringement of any of the Licensed Patents shall be brought against UTRF, it
shall immediately notify Licensee thereof, and Licensee may, within thirty (30) days of Licensee’s receipt of UTRF’s notice regarding such action and with the written consent of UTRF which shall not be unreasonably withheld, intervene
and take over the sole defense of the action against UTRF at Licensee’s own expense; provided that Licensee may not enter into a consent judgment acknowledging the invalidity or noninfringement of any of the Licensed Patents or an
admission of fault or of wrongdoing or that materially affects the rights of UTRF hereunder without the prior written approval of UTRF, which approval shall not be unreasonably withheld. 

Section 8.5 Notice and Settlement. The Instituting Party shall reasonably notify the Co-Party of the course of any Action and
shall not settle any Action without prior approval of the Co-Party (i) during the Term if such settlement contains an admission of the invalidity of any Licensed Patents or (ii) either during or after the Term if such settlement contains
an admission of fault or wrongdoing or materially affects the rights of the Co-Party hereunder. Such approval shall not be unreasonably withheld. 
 ARTICLE 9 
 INDEMNIFICATION; INSURANCE; 

REPRESENTATIONS; DISCLAIMER OF WARRANTIES 
 Section 9.1 Indemnification. In the event that UTRF, UT, any of their trustees, directors, officers, or employees (each an “Indemnified Party”) is, as a result of the
manufacture, marketing, use, sale, lease, or import of Licensed Products under this Agreement, made a party in 

  
 -13-

 
a lawsuit for infringement of a patent by a third party or is made a party in any lawsuit arising out of the manufacture, marketing, use, sale, lease, or import of Licensed Products under this
Agreement or any Sublicense, including, without limitation, actions founded on product liability (a “Claim”), the following provisions shall apply: 
 (a) Licensee shall defend or settle, at Licensee’s expense, any such Claim; provided that Licensee shall not enter into any such settlement (i) without the prior approval of UTRF, which
approval shall not be unreasonably withheld, if such settlement contains an admission of the invalidity of any Licensed Patent or materially affects the rights of UTRF hereunder; or (ii) without the prior approval of the Indemnified Party(ies),
which approval shall not be unreasonably withheld, if such settlement contains an admission of fault or wrongdoing on the part of such Indemnified Party(ies); 
 (b) Licensee shall indemnify and hold the Indemnified Party(ies) harmless for any and all damages, losses, liability, and costs resulting from such Claim except for damages, losses, liability, or costs
resulting from the breach of this Agreement, willful misconduct or misrepresentation by UTRF, UT, or their respective trustees, directors, officers, or employees, as adjudicated by decision of a court of competent jurisdiction, unappealable or
unappealed within the time provided by law, subject to the conditions for this indemnity set forth in Section 9.1(c). 

(c) The indemnity set forth above in Sections 9.1(a) and 9.1(b) shall apply only if the following conditions are met: 

(i) UTRF must promptly (within no more than thirty (30) days) notify Licensee upon receipt of oral or written notice of any actual
or threatened Claim upon which indemnification hereunder could be based. If UTRF does not promptly notify Licensee of an actual or alleged Claim and Licensee is materially prejudiced thereby, this indemnity shall not apply to a Claim against UTRF.

 (ii) Within thirty (30) days after a Claim is made, the Indemnified Party shall provide written consent for Licensee to
undertake and control the defense of such Claim. 
 (iii) If a Claim is made, the Indemnified Party shall assist Licensee and
cooperate in defending against and gathering information with respect thereto. 
 (iv) The Indemnified Party shall not, except
at its own cost, voluntarily make or agree to make any payment in connection with any Claim without the prior written consent of an authorized representative of Licensee. 
 Section 9.2 Insurance. During the Term Licensee shall obtain and carry in full force and effect commercial, general liability insurance which shall cover Licensee and the Indemnified Parties
with respect to events covered by Article 9.1 above. Licensee shall provide UTRF and University with Certificates of Insurance. Such insurance shall: 
 (a) Be written by a reputable insurance company authorized to do business in the State of Tennessee; 
 (b) Be endorsed to include product liability coverage; 

  
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 (c) Have a limit of not less than $3,000,000.00 per occurrence with an aggregate of
$10,000,000.00 for personal injury or death, and $3,000,000.00 per occurrence with an aggregate of $10,000,000.00 for property damage. 
 Section 9.3 Representations and Warranties. (a) Each party represents and warrants that: 
 (i) It is authorized to enter into this Agreement; 
 (ii) Entering
into this Agreement does not and will not create a conflict with or breach of the terms of any other agreement to which it is a party; and 
 (iii) All rights exercised and obligations undertaken in connection with this Agreement will comply with all applicable foreign, federal, state, and local laws and regulations. 

(b) UTRF represents and warrants that to the best of its actual knowledge as of the Effective Date, it has fully complied and will fully
comply with the requirements, to the extent applicable, of 35 U.S.C. § 200 et seq. and all implementing regulations, to the extent applicable, that are necessary to perfect title to the Licensed Patents. 

Section 9.4 Disclaimer of Warranties. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, UTRF, ITS DIRECTORS,
OFFICERS, EMPLOYEES, AND AFFILIATES MAKE NO REPRESENTATIONS AND EXTEND NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, VALIDITY OF PATENT RIGHTS CLAIMS, ISSUED OR
PENDING, AND THE ABSENCE OF LATENT OR OTHER DEFECTS, WHETHER OR NOT DISCOVERABLE. IN NO EVENT SHALL UTRF OR ITS RESPECTIVE TRUSTEES, DIRECTORS, OFFICERS, EMPLOYEES OR AFFILIATES BE LIABLE FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY KIND,
INCLUDING ECONOMIC DAMAGE OR INJURY TO PROPERTY AND LOST PROFITS, REGARDLESS OF WHETHER UTRF SHALL BE ADVISED, SHALL HAVE OTHER REASON TO KNOW, OR IN FACT SHALL KNOW OF THE POSSIBILITY OF THE FOREGOING. NOTHING IN THIS AGREEMENT SHALL BE CONSTRUED
AS: 
 (a) A REPRESENTATION MADE OR WARRANTY GIVEN BY UTRF THAT THE PRACTICE BY LICENSEE OF THE LICENSE GRANTED HEREUNDER SHALL
NOT INFRINGE THE PATENT RIGHTS OF ANY THIRD PARTY; 
 (b) A REPRESENTATION MADE OR WARRANTY GIVEN BY UTRF AS TO THE VALIDITY OR
SCOPE OF THE LICENSED PATENTS; 
 (c) A REPRESENTATION MADE OR WARRANTY GIVEN BY UTRF THAT ANY PATENT APPLICATION INCLUDED IN
THE LICENSED PATENTS WILL ULTIMATELY ISSUE AS A PATENT; 

  
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 (d) A REQUIREMENT THAT UTRF SHALL BE RESPONSIBLE FOR THE EXPENSES OF FILING OR PROSECUTING
ANY PATENT APPLICATION OR MAINTAINING ANY ISSUED PATENT IN FORCE; 
 (e) AN OBLIGATION ON THE PART OF UTRF TO BRING OR PROSECUTE
ACTIONS OR SUITS AGAINST THIRD PARTIES FOR INFRINGEMENT OF THE LICENSED PATENTS OR FOR UNAUTHORIZED USE OF THE KNOW-HOW; 
 (f)
AN OBLIGATION ON THE PART OF UTRF TO DEFEND ANY ACTION OR SUIT BROUGHT BY ANY THIRD PARTY; 
 (g) A REPRESENTATION MADE OR
WARRANTY GIVEN BY UTRF AS TO THE SAFETY, RELIABILITY OR EFFICACY OF THE LICENSED PRODUCTS; 
 ARTICLE 10 

EXPORT CONTROLS 
 Section 10.1 Limitations. Licensee hereby agrees that it will not sell, transfer, export or re-export any Licensed Products or Licensed Technology: 

(a) In any form, or any direct products thereof, except in compliance with all applicable laws, including the export laws of any U.S.
Government agency and any regulations thereunder; and 
 (b) To any persons or any entities with regard to which there exist
grounds to suspect or believe that they are violating applicable laws, including export laws of any U.S. Government agency. 

Section 10.2 Responsibilities. Licensee shall be solely responsible for obtaining all licenses, permits or authorizations
required from the U.S. and any other government for any such export or re-export. 
 ARTICLE 11 

NON-USE OF NAMES 
 Section 11.1 Licensee shall not use the names or trademarks of UTRF, of UT, nor any adaptation thereof, nor the names of any of their employees, directors, trustees, or any UT Contributor in any
advertising, promotional or sales literature without prior written consent obtained from UTRF, UT, or said employee, director, trustee, or UT Contributor, as applicable, in each case, except that Licensee may state that it is licensed by UTRF under
one or more of the patents and/or patent applications comprising the Licensed Patents. 
 Section 11.2 UTRF shall not use
the names or trademarks of Licensee, nor any adaptation thereof, nor the names of any employee of Licensee, in any advertising, promotional, sales or other literature without prior written consent obtained from Licensee, or said employee, as
applicable, in each case, except that UTRF may state that it has licensed one or more of the patents and/or applications comprising the Licensed Patents to Licensee. 

  
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 ARTICLE 12 
 CONFIDENTIALITY 
 Section 12.1 Disclosure of Agreement. Nothing
herein shall preclude a Party from disclosing the existence of this Agreement and the general scope of the License granted hereunder. However, neither Party shall disclose the economic terms of this Agreement except as may be required by applicable
law or be a court of competent jurisdiction or in order to defend or prosecute litigation, and except that UTRF may disclose such economic terms to the UT Contributor, UT, and the State of Tennessee and as required by Federal Policy. 

Section 12.2 Confidential Information. Subject to the exceptions set forth herein, all information or material disclosed
pursuant to this Agreement and/or related to the Licensed Technology shall be confidential (“Confidential Information”). The recipient of Confidential Information (“Receiving Party”) agrees to hold in confidence,
and not to distribute or disseminate to any person or entity, for any reason for a period of ten (10) years after receipt, any Confidential Information received under or relating to this Agreement from the other Party (“Providing
Party”), except for Confidential Information which: 
 (a) was known or used by the Receiving Party prior to the date
of disclosure to the Receiving Party as evidenced by written records; or 
 (b) either before or after the date of disclosure is
lawfully disclosed to the Receiving Party by sources other than the Providing Party which are rightfully in possession of the Confidential Information and not subject to any obligation of confidentiality, as evidenced by written records; or

 (c) either before or after the date of disclosure to the Receiving Party becomes generally known to the public, through no
fault or omission on the part of the Receiving Party; or 
 (d) is independently developed by or for the Receiving Party without
reference to, knowledge of, or reliance upon the Confidential Information as evidenced by written records; or 
 (e) is required
to be disclosed by the Receiving Party to comply with applicable laws, to defend or prosecute litigation or to comply with governmental regulations; provided that the Receiving Party provides prior written notice of such disclosure to the
Providing Party and takes reasonable and lawful actions to avoid and/or minimize the degree of such disclosure; provided that specific information shall not be deemed to be within any of these exclusions merely because it is embraced by more
general information falling with these exclusions. 

  
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 Disclosures of Confidential Information to Licensee, including, without limitation,
disclosures that are made to Licensee by UT Contributors, shall be deemed, for purposes of this Article, to be disclosures made by UTRF. 
 Section 12.3 Disclosure to Counsel. The Parties agree that counsel of the parties may receive Confidential Information. 
 ARTICLE 13 
 ASSIGNMENT 

Section 13.1 This Agreement shall be binding upon and shall inure to the benefit of UTRF and its assigns and successors, and shall
be binding upon and shall inure to the benefit of Licensee and its assigns; provided that Licensee obtains prior written approval from UTRF for any assignment of this Agreement to a third party, which approval shall not be unreasonably
withheld, conditioned or delayed. Notwithstanding the foregoing, no prior written approval from UTRF shall be required for any assignment of this Agreement by Licensee to an Affiliate of Licensee or in connection with the transfer or sale of all or
the majority of its business related to the subject matter of this Agreement, or in the event of a change in control of Licensee. Licensee’s right to assign the rights granted to Licensee under this Agreement shall be further conditioned upon
the following: 
 (a) This Agreement is in effect and Licensee is not in breach of its obligations under this Agreement; and

 (b) Licensee shall forward any such assignment document(s) to UTRF within thirty (30) days after the effective date
thereof. 
 Section 13.2 Failure to Conform to this Article. Any attempt to assign the rights granted to Licensee
under this Agreement that fails to fulfill any of the terms of this Article in any way shall make said attempt voidable at UTRF’s sole discretion. 
 ARTICLE 14 
 TERM AND TERMINATION 

Section 14.1 Term. This Agreement shall take effect upon the Effective Date, and unless earlier terminated pursuant to the
provisions of this Article 14, shall continue in full force and effect on a country-by-country basis for the longer of (i) a period of twenty (20) years from the Effective Date, or (ii) in each country in which a Valid Claim for
any Licensed Patent shall continue to exist, until the last Valid Claim for any Licensed Patent shall expire in such country, at which time this Agreement shall expire as to such country (“Term”). After expiration of the Term in a
country, Licensee shall have a perpetual, fully paid, royalty-free license to the Licensed Technology in such country, such license being of no greater scope than that granted hereunder. Licensee shall continue to be obligated to pay
(i) Running Royalties on account of Licensed Products sold in any country for which the Term shall not have expired; and (ii) Sublicense Royalties on Sublicense Revenue attributable to any country for which the Term shall not have expired;
and (iii) the Annual Maintenance Fee for as long as there is at least one country for which the Term shall not have expired. 

  
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 Section 14.2 Failure to Carry on Licensee’s Business. If Licensee shall be
adjudicated by a court of competent jurisdiction to be insolvent or is dissolved or declared bankrupt or is placed in receivership pursuant to proceedings directed against Licensee or if Licensee declares bankruptcy or insolvency, this Agreement
shall terminate immediately, unless UTRF, after being informed of the same, elects to the contrary. 
 Section 14.3
Licensee’s Failure to Make Payment. Should Licensee fail to pay UTRF any payment due and payable under this Agreement, UTRF shall have the right to terminate this Agreement on one hundred and twenty (120) days’ notice, unless
Licensee pays UTRF, within one hundred and twenty (120) days after Licensee’s receipt of such notice, all such overdue payments along with interest due and payable. Upon the expiration of the 120-day period, if Licensee shall not have paid
all such payments along with interest due and payable, the rights, privileges and License granted hereunder shall terminate. 

Section 14.4 Licensee’s Material Breach. UTRF shall notify Licensee in writing of any material breach or default of this
Agreement by Licensee. Licensee shall have sixty (60) days after receipt of such written notice from UTRF to correct such default. If such default is not corrected within the sixty (60) day period, UTRF shall have the right, at its option,
to terminate this Agreement. The failure of UTRF to exercise such right of termination for non-payment of royalties or otherwise shall not be deemed to be a waiver of any right UTRF might have, nor shall such failure preclude UTRF from exercising or
enforcing said right upon any subsequent breach or default by Licensee. 
 Section 14.5 Licensee’s Right to
Terminate. Licensee shall have the right to terminate this Agreement: 
 (a) On sixty (60) days’ written notice in
the event that UTRF is in material breach or default of this Agreement and fails to cure such breach or default within sixty (60) days after UTRF’s receipt of such notice; or 

(b) At any time on three (3) month’s written notice to UTRF provided that Licensee has paid all amounts due UTRF through
the effective date of the termination. 
 Section 14.6 Surviving Obligations. Upon termination of this Agreement for
any reason, nothing herein shall be construed to release either party from any obligation that matured prior to the effective date of such termination. In addition, if the Agreement has been terminated for a reason other than breach on the part of
Licensee, then Licensee (and any Sublicensee not then in default) may, after the effective date of such termination, sell all Licensed Products and complete Licensed Products in the process of manufacture at the time of such termination and sell the
same; provided that Licensee shall pay to UTRF the royalties thereon as required by Article 5 of this Agreement and shall submit the reports required by Article 6 on the sales of Licensed Products. 

Section 14.7 Effect on Sublicensees. Upon termination of this Agreement for any reason, any Sublicensee not then in default
shall have the right to seek a license from UTRF. 

  
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 ARTICLE 15 
 RESERVED 
 ARTICLE 16 

RESERVED PAYMENTS, NOTICES, AND OTHER COMMUNICATIONS 
 Section 16.1 Any payment, notice or other communication required or permitted hereunder (hereinafter “notice”) shall be in writing and shall be hand-delivered, sent by overnight
courier, mailed by certified United States mail, return receipt requested, or sent by facsimile, to the address(es) given below or to such other address(es) as the parties may hereafter specify in writing. Notice shall be deemed given and received
five (5) days after being deposited with the U.S. Postal Service certified mail postage prepaid, or if notice is hand-delivered or sent by overnight courier, upon the date of actual delivery, or if sent by facsimile, upon the date the receiving
party acknowledges receipt in writing, by email or otherwise. An email notice shall be given concurrently to all the email addresses provided by the recipient party and the first acknowledgment of receipt from the recipient party shall establish the
date on which such notice is given. 
 UTRF: 
 University of Tennessee Research Foundation 
 600 Henley Street, Suite 211

 UT Conference Center 
 Knoxville, TN 37996-4122 
 Attn: President 

With copy to: 

Richard Magid, Ph.D. 
 University of Tennessee Research Foundation 
 910 Madison Ave, Suite 827

 Memphis, TN 38163 
 Licensee: 
 Elan Pharmaceuticals, Inc. 

800 Gateway Boulevard 
 South San Francisco, CA 94080 
 Attn: Chief Intellectual Property Counsel

  
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 ARTICLE 17 
 PUBLICATIONS 
 Section 17.1 UT Rights to Publish Licensed
Technology. Licensee recognizes that under UTRF and UT policy, the results of a UT research project must be publishable and agrees that researchers engaged in such research shall have the right, with regard to the Licensed Technology, to present
at symposia, professional meetings and to publish in journals, theses or dissertations, or otherwise of their own choosing (“Publication”); provided that (a) UTRF shall provide such Publication regarding the Licensed
Technology to Licensee promptly upon receipt; and (b) UTRF shall not be deemed in breach or default of this Agreement merely due to a Publication that UTRF does not receive prior to publication. Notwithstanding the foregoing, the publication
provisions contained in the Sponsored Research Agreement among the parties hereto, effective as of September 20, 2006, shall remain in full force and effect in accordance with the terms thereof. 

ARTICLE 18 

MISCELLANEOUS PROVISIONS 
 Section 18.1 The parties hereto acknowledge that the SRA remains in full force and effect according to its terms and this Agreement does not supersede the SRA in any respect. For the avoidance of
doubt, the terms of the SRA shall govern, and no representation or warranty thereto is made by UTRF in this Agreement, with respect to the following: 
 (a) the secret or confidential nature of any know-how; 
 (b) any obligation on the
part of UTRF to take any action to prevent the disclosure of the licensed technology by UT, UT’s employees or any third party; and 
 (c) whether any of the inventors will agree to provide technical assistance or consultation to licensee, or that such technical assistance or consultation, if provided, would be sufficient to enable
Licensee to successfully exploit the Licensed Technology. 
 Section 18.2 Subject to Section 18.1, the parties hereto
acknowledge that this Agreement sets forth the entire Agreement and understanding of the parties hereto as to the subject matter hereof, and shall not be subject to any change or modification except by the execution of a written instrument
subscribed to by the parties hereto. 
 Section 18.3 The provisions of this Agreement are severable, and in the event that
any provisions of this Agreement shall be determined to be invalid or unenforceable under any controlling body of the law, such invalidity or unenforceability shall not in any way affect the validity or enforceability of the remaining provisions
hereof. 
 Section 18.4 The failure of either party to assert a right hereunder or to insist upon compliance with any term
or condition of this Agreement shall not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other party. 

  
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 Section 18.5 Neither party will be liable for any failure to perform as required by
this Agreement, if and to the extent that the failure to perform is caused by circumstances reasonably beyond such party’s control, including without limitation labor disturbances or disputes, accidents, failure to obtain any required
governmental approval, civil disorders, acts of aggression, acts of God, energy or other conservation measures, explosions, failure of utilities, mechanical breakdowns, disease, thefts, or other such occurrences. 

Section 18.6 This Agreement may be executed by facsimile and in one or more counterparts, each of which shall be deemed an original
but all of which together shall constitute one and the same document. The parties agree that facsimile copies of signatures have the same effect as original signatures. 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement by their duly authorized
officers the day and year set forth below. 
  

			
	 ELAN PHARMACEUTICALS INC.
 (“Licensee”)

		
	By:	 	 /s/ Nina Ashton

	Name:	 	Nina Ashton
	Title:	 	Vice President, IP
	Date:	 	 (12-31-08) 1-13-09

	
	 UNIVERSITY OF TENNESSEE
 RESEARCH FOUNDATION (“UTRF”)

		
	By:	 	 /s/ Dr. Fred Tompkins

	Name:	 	Dr. Fred Tompkins
	Title:	 	President
	Date:	 	 12-31-08

 APPENDIX A 
 to 
 LICENSE AGREEMENT 

between 

UNIVERSITY OF TENNESSEE RESEARCH FOUNDATION 
 and 
 ELAN PHARMACEUTICALS INC. 

LICENSED PATENTS 
 U.S. Patent
Application # 11/966,988, titled “Treatment and Prophylaxis of Amyloidosis” 
 PCT International Application No.
PCT/US07/089169, titled “Treatment and Prophylaxis of Amyloidosis” 

  
 A-1

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