Document:

EX-10.17

 Exhibit 10.17 
 CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION. 
 FINAL VERSION 
 AMENDED AND RESTATED LICENSE AGREEMENT 
 This Amended and Restated License
Agreement (this “Agreement”), effective as of 19 April, 2013 (the “Effective Date”), and restated as of June 12, 2013, is made by and between BIND Therapeutics, Inc., a Delaware corporation
(“BIND”), and AstraZeneca AB (publ), a company incorporated in Sweden under no 556011-7482 with offices at S-151 85 Södertälje, Sweden (“AstraZeneca”). BIND and AstraZeneca are sometimes hereinafter
referred to each as a “Party” and collectively as the “Parties.” 
 WHEREAS, BIND has been
engaged in the development of AccurinsTM based on BIND’s Medicinal Nanoengineering® technology, and owns and otherwise controls patent rights and know-how with respect thereto; 

WHEREAS, AstraZeneca has specialized experience in, among other things, development and commercialization of pharmaceutical products;

 WHEREAS, AstraZeneca desires to collaborate with BIND in the research, development and commercialization of a Product
combining an AccurinTM with its Product Candidate; 
 WHEREAS, the Parties each desires to collaborate to research, develop
and commercialize Product Candidates and Products; 
 WHEREAS, BIND and AstraZeneca entered into a certain License Agreement,
dated as of the Effective Date (the “Prior License Agreement”), pursuant to which AstraZeneca and BIND agreed to collaborate to research, develop and commercialize Product Candidates and Products; and 

WHEREAS, BIND and AstraZeneca desire to amend the Prior License Agreement to make certain changes thereto. 

NOW, THEREFORE, in consideration of the mutual covenants and obligations set forth herein, the Parties hereby agree that the Prior
License Agreement is amended and restated in its entirety to read as follows: 
 Section 1. Definitions. 

For the purpose of this Agreement, the following words and phrases (and their correlatives) will have the meanings set forth below:

 1.1 “AccurinTM” means a targeted (using any targeting mechanism) nanoparticle incorporating or otherwise
based on BIND Background Technology with one or more active ingredients, including, for example, the Product Candidate. 
 1.2
“Affiliate” of an entity or person means any other entity or person which (directly or indirectly) is controlled by, controls or is under common control with such entity or person. For the purposes of this definition, the
term “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”) as used with respect to an entity means (a) in the case of a corporate entity, direct
or indirect ownership of voting securities entitled to cast at least fifty percent (50%) of the votes in the election of directors or (b) in the case of a non-corporate entity, direct or indirect ownership of at least fifty
percent (50%) of the equity interests with the power to direct the management and policies of such entity. 

 LICENSE AGREEMENT 

 

 1.3 “Anti-Corruption Laws” means the US Foreign Corrupt Practices Act,
as amended, the UK Bribery Act 2010, as amended, and any other applicable anti-corruption laws and laws for the prevention of fraud, racketeering, money laundering or terrorism. 

1.4 “AstraZeneca Background Know-How” means Know-How Controlled by AstraZeneca or any of its Affiliates as of the
Effective Date that (a) is necessary or reasonably useful for research related to Product Candidates, (b) AstraZeneca chooses to make available under this Agreement, or (c) is required for BIND to perform its obligations under the
Product Development and Manufacturing Program, but excluding AstraZeneca Program IP. 
 1.5 “AstraZeneca Background
Technology” means the AstraZeneca Background Know-How and the AstraZeneca Background Patents. 
 1.6
“AstraZeneca Background Patents” means Patents Controlled by AstraZeneca or any of its Affiliates as of the Effective Date that (a) are necessary or reasonably useful for research related to Product Candidates,
(b) AstraZeneca chooses to make available under this Agreement, or (c) are required for BIND to perform its obligations under the Product Development and Manufacturing Program, but excluding AstraZeneca Program IP. As of the Effective
Date, the AstraZeneca Background Patents include those listed on Exhibit 1.6. 
 1.7 “[***] Kinase
Inhibitor” means a product, the intended clinical effect of which is reasonably believed to be dependent upon the inclusion, in such product, of a compound that, as its primary mechanism of action, directly inhibits the activity of [***]
Kinase. 
 1.8 “BIND Background Know-How” means Know-How Controlled by BIND as of the Effective Date necessary
(a) to research and Develop Product Candidates during the Product Development and Manufacturing Program Term, or (b) to Develop, Manufacture or Commercialize Product Candidates or Products in the Field during the Term, but excluding BIND
Program IP. For avoidance of doubt, Know-How that is in-licensed by BIND from Third Parties as of the Effective Date as set forth on Exhibit 1.8 is hereby deemed not to be Controlled by BIND for purposes of this Agreement and therefore is not
included within the licenses granted to AstraZeneca hereunder. 
 1.9 “BIND Background Patents” means those
Patents Controlled by BIND as of the Effective Date which are described in Exhibit 1.9 and which are necessary (a) to research and Develop Product Candidates during the Product Development and Manufacturing Program Term, or (b) to Develop,
Manufacture or Commercialize Product Candidates or Products in the Field during the Term, but excluding BIND Program IP. For avoidance of doubt, Patents that are in-licensed by BIND from Third Parties as of the Effective Date as set forth on Exhibit
1.8 are hereby deemed not to be Controlled by BIND for purposes of this Agreement and therefore are not included within the licenses granted to AstraZeneca hereunder. 
 1.10 “BIND Background Technology” means the BIND Background Know-How and the BIND Background Patents. 
 1.11 “Bundle” means any Product sold together with another pharmaceutical product for a single price. 

 
  

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 LICENSE AGREEMENT 

 
 1.12 “Business Day” means any day that is
not a Saturday or Sunday or day on which banking institutions in Boston or London are authorized by law to remain closed. 

1.13 “Change of Control” means for BIND that (a) BIND will have become an Affiliate of a Third Party, (b) any
sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of BIND will have occurred, or (c) any Third Party (whether individually or as part of a group) will have
become the owner, directly or indirectly, of voting securities entitled to cast more than fifty percent (50%) of the votes in the election of directors of BIND. 
 1.14 “Clinical Data” means all information made, collected or otherwise generated under or in connection with clinical studies, including any clinical study reports, toxicology reports,
development plans, clinical study plans, data and results with respect to any of the foregoing. 
 1.15 “Clinical
Development” means clinical drug development activities reasonably related to the development and submission of information to a Regulatory Authority in the Field for Product Candidates and Products, including toxicology, pharmacology and
other discovery and pre-clinical efforts (other than design and formulation efforts, which will take place during the Product Development and Manufacturing Program), statistical analysis, and clinical studies (other than post-approval clinical
studies). 
 1.16 “Clinical Development & Commercialization Program” means the program of Clinical
Development and Commercialization activities to be undertaken by and on behalf of AstraZeneca for Product Candidates and Products. For clarity, the Clinical Development & Commercialization Program will not include activities conducted under
the Product Development and Manufacturing Program or relating to Manufacturing, and all Clinical Development and Commercialization activities related to Product Candidates and Products undertaken by or on behalf of AstraZeneca or any of its
Affiliates or Sublicensees will be considered as part of the Clinical Development & Commercialization Program. 
 1.17
[***] 
 1.18 “CMC Data” means Chemistry, Manufacturing and Controls data, which includes
(a) Manufacturing process development records for Product Candidates and Products, (b) records of all Chemistry, Manufacturing and Controls procedures necessary for Manufacture of Product Candidates and Products; and (c) records of
sourcing and testing of all raw materials and components used in the Manufacture of Product Candidates and Products. 
 1.19
“Commercially Reasonable Efforts” means that the level of efforts to be expended by a Party under this Agreement with respect to the research, design, development, Manufacture or Commercialization of Product Candidates and Products
will be consistent with the level of reasonable, diligent, good faith efforts and resources that would normally be used by such Party (whether acting alone or through its Affiliates) for a pharmaceutical product owned by such Party (or to which such
Party otherwise has rights) of similar commercial potential at a similar stage in its lifecycle, and taking into account issues of safety and efficacy, product profile, the patent and other proprietary position of the product, the then current
competitive environment for such product, the likelihood of receipt of Regulatory Approval, the likely timing of such product’s entry into the market, the regulatory environment, and other relevant scientific, technical and commercial factors.

  
  

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 LICENSE AGREEMENT 

 
 1.20 “Commercialization” means activities
directed to obtaining pricing and reimbursement approvals, carrying out post-approval clinical studies, marketing, promoting, distributing, importing, exporting, offering for sale or selling a Product. 

1.21 “Controlled” or “Controls” means, with respect to any Know-How, Materials, Patents or other
intellectual property or other rights, the possession (whether by ownership or license or other right, other than by a license or other right granted pursuant to this Agreement) by a Party of the ability to grant (or to ensure that its Affiliates
grant) to the other Party the licenses, sublicensees or rights to access and use such Know-How, Materials, Patents or other intellectual property or other rights, without requiring the payment of any royalties or other consideration or violating the
terms of any agreement or other arrangement with any Third Party in existence as of the time such Party or its Affiliates would be required hereunder to grant such license, sublicense, or rights of access and use. 

1.22 “Exclusive Licensed IP” means all Patents and Know-How included in or embodied by any Exclusive Research
Developments. 
 1.23 “Exclusive Licensed Technology” means all Exclusive Research Developments and Exclusive
Licensed IP. 
 1.24 “Exclusive Research Developments” means any invention, development or discovery that BIND
and its Affiliates Control which is made, conceived or created in connection with the Feasibility Study or any research under this Agreement, including BIND Program IP, that specifically relates to a Product Candidate or Product (or a nanoparticle
of the Product), including any of the foregoing jointly owned with AstraZeneca. 
 1.25 “Exclusivity Renewal
Fee” means [***]. 
 1.26 “FDA” means the U.S. Food and Drug Administration and any successor agency
thereto. 
 1.27 “FFDCA” means the U.S. Food, Drug, and Cosmetic Act, as amended or replaced. 

1.28 “Feasibility Study Agreement” means that certain Material Transfer and Feasibility Study Agreement, dated as of
[***], by and between the Parties, relating to certain activities and services conducted by BIND (the “Feasibility Study”). 
 1.29 “Field” means the therapeutic use of a Product in humans or animals for any indication. 
 1.30 “First Commercial Sale” means, with respect to a Product on a country-by-country basis, the first sale for use by the general public of such Product in such country after Regulatory
Approval of such Product has been granted or permitted by the applicable Regulatory Authority of such country. 
 1.31
“Free Trade Agreement” means a reciprocal agreement between two or more parties with broader provisions beyond customs issues. Example of such existing U.S. Free Trade Agreements are with Israel, Jordan, South Korea (as of
March 2012) NAFTA, Chile, Singapore, Australia, Morocco, CAFTA-DR, Bahrain. 
  

 

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 LICENSE AGREEMENT 

 
 1.32 “FTE” means 1880 hours of work time
over a period of twelve (12) consecutive calendar months. The portion of an FTE year devoted by a full-time employee will be determined by dividing (i) the number of hours that such individual devoted to performance of such activities
during any given twelve (12) month period by (ii) 1880. 
 1.33 “FTE Rate” means an amount equal to
[***] for one (1) year. The FTE Rate includes all compensation and benefits for the relevant personnel as well as access to and use of equipment provided by BIND to such personnel for his or her exclusive use (for example, a personal computer,
telephone and office equipment) as well as routine research supplies, consumables and overhead costs. This FTE Rate shall apply to scientific personnel and will not include the work of general corporate or administrative personnel. 

1.34 “Formal Reports” means those formal reports identified in the Product Development and Manufacturing Program Plan
which are subject to the formal review and approval process by AstraZeneca as outlined more specifically in Section 2.2. 

1.35 “Generic Product” means any pharmaceutical product that (a)(i) is sold by a Third Party that is not a licensee or
Sublicensee of AstraZeneca or its Affiliates under this Agreement, or any of their licensees or sublicensees, under a marketing authorization granted by a Regulatory Authority to such Third Party, and (ii) contains (or contains an ingredient
which metabolises to) substantially the same active pharmaceutical ingredient as the relevant Product formulated in or with a polymeric nanoparticle and (b) (x) for purposes of the United States, is approved in reliance on the prior
approval of the Product as determined by the FDA, or (y) for purposes of a country outside the United States, is approved in reliance on the prior approval of a Product as determined by the applicable Regulatory Authority. 

1.36 “GLP Toxicology Studies” means toxicology studies, conducted on a Product Candidate in accordance with GLP, that
are intended to assess the onset, severity, and duration of toxic effects of the Product Candidate, their dose dependency and degree of reversibility (or irreversibility). 
 1.37 “Government Official” means (i) any Person employed by or acting on behalf of a Governmental Authority; (ii) any political party, party official or candidate;
(iii) any Person who holds or performs the duties of an appointment, office or position created by custom or convention; and (iv) any Person who holds himself out to be the authorized intermediary of any of the foregoing. 

1.38 “Good Laboratory Practice” or “GLP” means the applicable then-current standards for laboratory
activities for pharmaceuticals or biologicals, as applicable, as set forth in the FFDCA, 21 U.S.C. §§ 301 et seq., and any regulations or guidance documents promulgated thereunder (as amended), together with any similar standards of good
laboratory practice as are required by any Regulatory Authority in the Territory, as applicable. 
  

 

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 LICENSE AGREEMENT 

 

 1.39 “IND” means an Investigational New Drug application or similar
application or submission for approval to conduct human clinical investigations filed with or submitted to a Regulatory Authority in conformance with the requirements of such Regulatory Authority. 

1.40 “Indirect Taxes” means VAT, sales taxes, consumption taxes and other similar taxes required by law to be disclosed
on the invoice. 
 1.41 “Investigator Sponsored Study” means a human clinical trial initiated and conducted,
alone or with others, by an investigator who is not an employee of the Parties, or by a company, institution or organization other than the Parties. 
 1.42 “Know-How” means commercial, technical, scientific and other know-how and information, inventions, discoveries, improvements, trade secrets, knowledge, technology, methods,
processes, practices, formulae, instructions, skills, techniques, procedures, experiences, ideas, technical assistance, designs, drawings, assembly procedures, computer programs, specifications, data and results (including biological, chemical,
pharmacological, toxicological, pharmaceutical, physical and analytical, pre-clinical, clinical, safety, manufacturing and quality control data and know-how, including study designs and protocols); in all cases, whether or not confidential,
proprietary, patented or patentable, in written, electronic or any other form, now known or hereafter developed. 
 1.43
“Major Market Country” means the Unites States of America, the European Union and Japan. 
 1.44
“Manufacture” means activities related to the production, manufacture, processing, filling, finishing, packaging, labeling, shipping, warehousing, and holding of Product Candidates and Products for development (including Clinical
Development) and Commercialization, including process development, process qualification and validation, test method development, delivery system development, scale-up, pre-clinical, clinical and commercial manufacture and analytic development,
product characterization, stability testing, formulation, quality assurance and quality control. 
 1.45
“Materials” means any tangible chemical or biological research materials that are provided or otherwise made available by one Party to the other Party under the terms of Section 2.2(c) for use in performance of the
Product Development and Manufacturing Program (including samples of nanoparticles, cells, proteins, tissue samples, animals, together with any components, derivatives or progeny thereof); provided, however, that Materials will not
include any Product Candidates or Products. 
 1.46 “NDA” means a New Drug Application filed with the FDA
(including amendments and supplements thereto) to obtain Regulatory Approval in the United States, or any corresponding applications or submissions filed with the relevant Regulatory Authorities to obtain Regulatory Approvals in any other country or
region in the Territory. 
 1.47 “Net Sales” means the gross amount invoiced in transactions by AstraZeneca,
its Affiliates and Sublicensees for the sale or distribution of Products to Third Parties (which shall include Distributors), less: (a) customary discounts, (b) amounts repaid or credited because of rejections, returns and recalls,
(c) rebates or bona fide price reductions, (d) rebates and similar payments made with respect to sales paid for by any governmental or regulatory authority, (e) invoiced amounts written off as bad debt in accordance with GAAP,
(f) taxes and duties (excluding income or franchise taxes of any kind) and (g) three (3) percent of the gross invoiced 

  
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 LICENSE AGREEMENT 

 

 
amount for insurance and transportation costs, special packaging and related charges, such amount to be calculated after the application of the reductions described in the foregoing clauses
(a) through (f). Net Sales shall be calculated using AstraZeneca’s internal audited system used to report such sales as adjusted for any of items (a) to (g) above not taken into account in such systems. 

In the case of any sale or transfer of a Product, or part thereof, other than in an arm’s length transaction exclusively for cash,
the Net Sales amount shall be deemed to be the Net Sales at which substantially similar quantities of such Product are sold for cash in an arm’s length transaction in the relevant country; provided however, that no such Net Sales value will be
attributed to Product transferred for no consideration in connection with clinical studies, compassionate use or an indigent program by AstraZeneca or its Affiliates or Sublicensees. 

If a sale, transfer or other disposition with respect to Products involves consideration other than cash or a transaction that is not at
arm’s length, then the Net Sales from such sale, transfer or other disposition shall be the arm’s length fair market value, which generally will mean AstraZeneca’s average sales price for the calendar quarter in the country where such
sale took place (or where no average sale price yet exists in that country then such good faith estimate based upon and consistent with those distribution arrangements AstraZeneca has entered into for Products in other countries). 

Product will be considered “sold” hereunder when invoiced. Such amounts will be calculated using AstraZeneca’s internal
audited system used to report such sales as adjusted for any of items (a) through (e) above not taken into account in such systems. AstraZeneca’s or any of its Affiliates’ or Sublicensees’ transfer of Product between each
other will not result in any Net Sales, unless such Product is consumed in the course of Commercialization. 
 Where a Product
is sold in a Bundle, then for the purposes of calculating Net Sales under this Agreement, such Product will be deemed to be sold for an amount equal to [X ÷ (X + Y)] × Z, where: X is the average sales price during the applicable
reporting period generally achieved for such dosage form of such Product; Y is the sum of the average sales price during the applicable reporting period generally achieved, when sold alone, by each pharmaceutical product in the relevant dosage form
included in the Bundle (excluding such Product); and Z equals the price at which the Bundle was actually sold. In the event that such Product or one or more of the other pharmaceutical products in the Bundle are not sold separately in the relevant
dosage form, Net Sales from the sale of such Bundle will be reasonably allocated between such Product and the other product(s) in such Bundle based upon their relative values and the Parties will determine the equitable fair market prices to apply
to such Bundle; provided, that in the event of a disagreement with respect to such relative values, the Parties will engage a mutually agreed upon independent expert to make the final determination with respect thereto. Notwithstanding the
foregoing, no Product will be sold in a Bundle if such sale would violate applicable law. 
 1.48 “Non-Exclusive
Licensed Technology” means all Patents and Know-How that BIND and its Affiliates Control as of the Effective Date or at any time during the Term, including BIND Program IP, that are necessary or reasonably useful for the exploitation of the
Product Candidate or Product, or that otherwise claim or cover the Product, but excluding the Exclusive Licensed Technology. 

  
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 LICENSE AGREEMENT 

 
 1.49 “Patent” means patents and patent
applications in the Territory (which for purposes of this Agreement will include certificates of invention and applications for such certificates), including any divisionals, continuations, continuations-in-part, substitutions, reissues,
re-examinations, revalidations, patent term extensions, pediatric exclusivity extensions, registrations, supplementary protection certificates and renewals of any such patents or patent applications, together with foreign equivalents of any of the
foregoing, that claim or cover any Materials, Product Candidates, or Products, or development (including Clinical Development), Manufacture, Commercialization or use thereof. 
 1.50 “Patent Costs” means the out-of-pocket costs and expenses paid to legal counsel and other Third Parties, and filing and maintenance expenses, incurred in Prosecuting and Maintaining
Patents and enforcing and defending them. 
 1.51 “Phase I Clinical Trial” means a human clinical trial of a
Product Candidate or Product, the principal purpose of which is a determination of safety, as described in 21 C.F.R. 312.21(a) (as amended or replaced), including any Exploratory IND studies, or a similar clinical study prescribed by a Regulatory
Authority in a foreign country or region (but excluding any Investigator Sponsored Studies). 
 1.52 “Phase II Clinical
Trial” means a human clinical trial of a Product Candidate or Product, the principal purpose of which is a determination of safety and an assessment of its efficacy in the target patient population for its intended use, as described in 21
C.F.R. 312.21(b) (as amended or replaced), or a similar clinical study prescribed by a Regulatory Authority in a foreign country or region (but excluding any Investigator Sponsored Studies). 

1.53 “Phase III Clinical Trial” means a human clinical trial of a Product Candidate or Product on a sufficient number of
subjects that is designed to establish that a pharmaceutical product is safe and efficacious for its intended use, as described in 21 C.F.R. 312.211 (as amended or replaced), or a similar clinical study prescribed by a Regulatory Authority in a
foreign country or region (but excluding any Investigator Sponsored Studies). 
 1.54 “Product” means any
pharmaceutical product containing a Product Candidate, in all forms, presentations, formulations and dosage forms. 
 1.55
“Product Candidate” means [***] formulated or processed in connection with the work carried out pursuant to the Feasibility Study or this Agreement. 
 1.56 “Product Development and Manufacturing Program” means (a) preclinical development activities of Product Candidates to be conducted by or on behalf of the Parties in accordance
with the Product Development and Manufacturing Plan; with respect to BIND, such activities may include development, formulation and manufacture of the Product for clinical trials. 

1.57 “Program IP” means Know-How and Materials, plus all Patents arising therefrom, created or conceived in connection
with the activities performed pursuant to the Feasibility Study or the Product Development and Manufacturing Program or other activities that may be undertaken by or on behalf of a Party with respect to the research or development (including
Clinical Development) or manufacturing of Product Candidates during the Product 
  

 

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Development and Manufacturing Program Term, in either case, whether solely by one Party or jointly by the Parties, in each case optionally with their Affiliates or any licensees, subcontractors
or any other Third Parties or any employees, consultants or agents of any of the foregoing. 
 1.58 “Prosecution and
Maintenance” means in relation to any Patents, (a) to prepare and file Patent applications, including re-examinations or re-issues thereof, and represent applicants or assignees before relevant patent offices or other relevant
governmental authorities during examination, re-examination and re-issue thereof, in appeal processes and interferences, or any equivalent proceedings, (b) to defend all such applications against Third Party oppositions, (c) to secure the
grant of any Patents arising from such Patent application, (d) to maintain in force any issued Patent (including through payment of any relevant maintenance fees), and (e) to make all decisions with regard to any of the foregoing
activities. 
 1.59 “Regulatory Authority” means any national (e.g., the FDA), supra-national, regional, state
or local regulatory agency, department, bureau, commission, council or other governmental entity, in any jurisdiction in the world, regulating or otherwise exercising authority with respect to the development or commercialization of a Product
Candidate or Product in the applicable jurisdiction, including the granting of Regulatory Approval with respect thereto. 
 1.60
“Regulatory Approval” means, (a) with respect to a Product in the European Union, the earlier to occur of (i) approval from the applicable Regulatory Authority in at least one member state in the European Union sufficient
for the manufacture, distribution, use, marketing and sale of such Product, including pricing approval, in such jurisdiction in accordance with applicable laws, or (ii) the first commercial sale of a Product in the European Union; and
(b) with respect to a Product in any regulatory jurisdiction other than the European Union, approval sufficient for the manufacture, distribution, use, marketing and sale of such Product in such jurisdiction in accordance with applicable laws
(but for clarity not including pricing approval no matter the applicable law). 
 1.61 “Regulatory
Documentation” means all applications for clinical studies and Regulatory Approvals, all registrations, licenses, authorizations and approvals (including all Regulatory Approvals), all correspondence submitted to or received from Regulatory
Authorities (including minutes and official contact reports relating to any communications with any Regulatory Authority), and all Clinical Data and other data submitted to Regulatory Authorities, in each case for a particular product, including all
regulatory drug lists, advertising and promotion documents, drug master files, adverse event files and complaint files for such product. 
 1.62 “Regulatory Exclusivity” means any exclusive marketing rights or data exclusivity rights conferred by any Regulatory Authority with respect to a Product other than Patents,
including, without limitation, rights conferred in the United States under the Hatch-Waxman Act or the FDA Modernization Act of 1997 (including pediatric exclusivity), or rights similar thereto outside the United States. 

1.63 “Special Trade Program” means a program in which Products original in a foreign country are eligible for
preferential tariff treatment under a special trade program. Examples of such Special Trade Programs are Prototype (9817), US goods Returned (9801/9802), GSP, ATPA/ATPDEA, CBERA/CBI, CBPTA, AGOA. 

  
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 LICENSE AGREEMENT 

 

 1.64 “Sublicensee” means an Affiliate of AstraZeneca or a Third Party
that is granted a sublicense by AstraZeneca in accordance with Section 7.5(a). 
 1.65 “Tax
Authority” or “Tax Authorities” means any government, state or municipality, or any local, state, federal or other fiscal, revenue, customs, or excise authority, body or official anywhere in the world, authorized to levy Tax.

 1.66 “Tax Invoice” means an invoice including such particulars as are required by any law imposing Tax and
such other information as required to claim any credit allowed under a law imposing Tax. 
 1.67 “Tax” and
“Taxation” means any form of tax or taxation, levy, duty, charge, social security charge, contribution, or withholding of whatever nature (including any related fine, penalty, surcharge or interest) imposed by, or payable to, a Tax
Authority. 
 1.68 “Territory” means worldwide. 

1.69 “Third Party” means any person or entity other than AstraZeneca, BIND or their respective Affiliates. 

1.70 “Valid Claim” means (a) any claim of an issued and unexpired Patent that (i) has not been held
permanently revoked, unenforceable or invalid by a decision of a court or governmental agency of competent jurisdiction, which decision is unappealable or unappealed within the time allowed for appeal and (ii) has not been abandoned,
disclaimed, denied or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise, or (b) a claim of a pending Patent application, which claim has not been abandoned or finally disallowed without the possibility of appeal
or re-filing of the application. 
 Definitions for each of the following terms are found in the body of this Agreement as indicated below:

  

			
	 Defined Term
	  	 Location

	Affected Party	  	Section 13.7(f)
	Agreed Quarterly Budget	  	Section 2.1(c)
	Arbitration Matter	  	Section 15.7(b)(i)
	AstraZeneca Core IP	  	Section 9.2(b)
	AstraZeneca Indemnitees	  	Section 13.7(b)
	AstraZeneca Program IP	  	Section 9.2(c)
	Bankruptcy Event	  	Section 13.7(f)
	BIND Core IP	  	Section 9.2(a)
	BIND Indemnitees	  	Section 13.7(a)
	BIND Program IP	  	Section 9.2(c)
	Claim	  	Section 13.7(c)
	Competitive Infringement	  	Section 11.1
	Compound Claim	  	Section 11.1
	Confidential Information	  	Section 12.1(a)
	Clinical Development & Commercialization Plan	  	Section 4.1(c)
	Clinical Development & Commercialization Term	  	Section 4.2(a)
	Confidentiality Agreement	  	Section 12.5

  
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 LICENSE AGREEMENT 

 

			
	 Defined Term
	  	 Location

	Disclosing Party	  	Section 12.1(a)
	Distributor	  	Section 7.5 (c)
	Exclusivity Period	  	Section 6.1
	External Officer	  	Section 15.7(a)
	External Expenses	  	Section 2.1(d)
	Indemnitee	  	Section 13.7(c)
	Indemnitor	  	Section 13.7(c)
	Issuing Party	  	Section 12.2(b)
	Joint Program IP	  	Section 9.2(c)
	JSC	  	Section 3.2(a)
	JWT	  	Section 3.2(f)
	Losses	  	Section 13.7(a)
	Milestone Events	  	Section 8.2(a)
	Milestone Payments	  	Section 8.2(a)
	Party Representatives	  	Section 13.3
	Payments	  	Section 8.6(f)
	Product Development and Manufacturing Plan	  	Section 2.1(b)
	Product Development and Manufacturing Term	  	Section 2.1(a)
	Product Specific Patent	  	Section 9.2(b)
	Program Lead	  	Section 3.1
	Quality Agreement	  	Section 5.1
	Receiving Party	  	Section 12.1(a)
	Release	  	Section 12.2(b)
	Reviewing Party	  	Section 12.2(b)
	Royalty Term	  	Section 8.3(b)
	Sole Program IP	  	Section 9.2(c)
	Subcommittees	  	Section 3.2(e)
	Supply Agreement	  	Section 5.1
	Term	  	Section 14.1

 Section 2. Product Development and Manufacturing. 

2.1 Product Development and Manufacturing Generally. 
 (a) The Parties will use Commercially Reasonable Efforts to conduct the Product Development and Manufacturing Program, pursuant to the terms of the Product Development and Manufacturing Plan, on the terms
and conditions set forth in this Agreement, and in accordance with applicable law. Each Party shall (a) perform or cause to be performed the research activities allocated to it under the Product Development and Manufacturing Plan in good
scientific manner and in compliance in all material respects with all applicable laws and regulations, including good laboratory practices and good clinical practices, (b) to achieve the objectives of the Plan efficiently and expeditiously by
allocating sufficient time, effort, equipment and skilled personnel to complete such activities successfully and promptly, and (c) insofar as the research activities involve the use of animals, conduct those research activities in accordance
with the AstraZeneca International Policy on Animal Care and Use, and Bioethics 

  
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Policy copies of which are appended hereto in Exhibit 2.1(a). The Product Development and Manufacturing Program will be undertaken and performed during the period beginning on the Effective Date
and ending on the establishment of a commercial/Phase III manufacturing capability (which shall be deemed to have happened upon release of the first batch of Product for commercial/Phase III use), unless earlier terminated as provided in this
Agreement (the “Product Development and Manufacturing Program Term”). The Product Development and Manufacturing Program Term may be extended only by mutual written agreement of the Parties. 

(b) The activities to be undertaken and performed by the Parties in connection with the Product Development and Manufacturing Program
are set forth in a detailed plan and budget agreed in writing by the Parties (the “Product Development and Manufacturing Program Plan”). Any modifications or amendments to the Product Development and Manufacturing Program Plan
(including the budget) that are proposed by either Party will be subject to review by both Parties and will be intended to support the establishment of a commercial/Phase III manufacturing capability. AstraZeneca shall have the final decision making
authority with respect to changes in the Product Development and Manufacturing Program Plan provided that any modification that would alter the type or amount of resources required for BIND to perform its obligations thereunder shall be the subject
of written approval by BIND which shall not be unreasonably withheld. If BIND is unwilling or unable to carry out work under the Product Development and Manufacturing Program Plan as requested, then the Parties will work in good faith to have such
work carried out by a Third Party or AstraZeneca, provided that in no event shall this sentence apply to any research or development activities that would require BIND to disclose any trade secrets to a Third Party or AstraZeneca. 

(c) Each Party will use Commercially Reasonable Efforts to undertake and perform its respective obligations as set forth in the Product
Development and Manufacturing Program Plan using appropriate personnel and resources. Each Party agrees to use its Commercially Reasonable Efforts to complete the activities contemplated within the Product Development and Manufacturing Program Plan
within the timelines set and within any agreed budget. In accordance with Section 3.2(f), the Parties will agree in advance on a budget for each portion of these activities upon a quarterly basis (the “Agreed Quarterly
Budget”). The Parties will work together to coordinate their efforts in performing their respective responsibilities under the Product Development and Manufacturing Program Plan. 

(d) For BIND’s performance in connection with Product Development and Manufacturing Program Plan, AstraZeneca shall pay to BIND for
those costs of FTEs as set out in the budget at the FTE Rate, plus all project related external costs of a type previously approved in writing by AstraZeneca and reasonably incurred by BIND (the “External Expenses”). The External
Expenses may include, for example, the cost of materials for manufacturing research materials, Products or Product Candidates in excess of a five (5) gram quantity, but shall not include routine laboratory supplies or purchase of capital
equipment unless specifically agreed to in the Product Development and Manufacturing Program Plan or otherwise mutually agreed to by the Parties in writing. The Parties will work together to minimize External Expenses and AstraZeneca shall have the
opportunity and right to work with BIND (at AstraZeneca’s sole discretion) to reduce third party expenditure including agreeing the process for sourcing third party services, negotiation and selecting suppliers. BIND shall provide AstraZeneca
with its subcontractors’ and suppliers’ invoices showing the cost for performing parts of or components for the Product Development and Manufacturing Program Plan. 

  
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 (e) BIND shall keep accurate records pertaining to the number of FTE’s and the
External Expense utilized by BIND in the conduct of the Product Development and Manufacturing Program Plan. The records shall conform with general accounting principles. Such records shall be kept by BIND for at least three (3) years from the
end of the year in which such work was undertaken. 
 (f) During the Product Development and Manufacturing Program Term and for
three (3) years thereafter AstraZeneca may at its own expense, appoint an independent certified public accountant to audit the records kept by BIND of such FTE costs incurred by BIND and paid for by AstraZeneca provided that such right of audit
shall be exercisable no more frequently than once per calendar year and no period shall be subject to audit more than one time. 

2.2 Records, Reports and Materials. 
 (a) Each Party will maintain, or cause to be maintained, records of its activities and results achieved under the Product Development and Manufacturing Program in sufficient detail and in good scientific
manner appropriate for scientific, patent and regulatory purposes, and which will properly reflect all work performed. All such records will be maintained in a manner consistent with (i) applicable law relating to similar documentation used to
obtain and maintain Regulatory Approvals in the United States, and (ii) such Party’s applicable internal policies and procedures. 
 (b) During the Product Development and Manufacturing Program Term and for the next calendar quarter thereafter, each Party will furnish to the JSC a summary written report, within thirty (30) days
after the end of each calendar quarter, describing the status and progress of its performance under the Product Development and Manufacturing Program Plan and any other work conducted by or on its behalf as part of the Product Development and
Manufacturing Program; provided that each Party shall provide notice as soon as reasonably practical to the other Party in the event that it becomes aware of unanticipated safety concerns relating to the use, storage, handling or exposure to the
Materials used in connection with the Product Development and Manufacturing Program Plan. In addition BIND will provide to AstraZeneca Formal Reports as described in the Product Development and Manufacturing Plan. The Formal Reports will be provided
initially to AstraZeneca in a draft format, and AstraZeneca will have thirty (30) days to review the report and ask for modifications or additional information to be included. BIND shall submit the updated Formal Report including such
modifications or additional information to AstraZeneca within thirty (30) days of receipt by BIND of AstraZeneca’s written request for revisions to the Formal Report. 

(c) If samples of Materials are provided during the Product Development and Manufacturing Program Term, the Party receiving such
Materials will use the Materials solely in accordance with the Product Development and Manufacturing Program Plan (or as may otherwise be permitted under the terms and conditions of this Agreement), including that such Party shall not perform any
other analysis, or reverse-engineering activities, with respect to such Materials unless reasonably necessary for the performance of that Party’s obligations under this Agreement. The Party receiving such Materials will not distribute or
otherwise allow the release of Materials to any Third Party without the prior written consent of the supplying Party (which consent will not be unreasonably withheld). Materials made available to the receiving Party (and any derivatives or progeny
thereof) are and will remain the sole property of the supplying Party and will be used in compliance with all applicable law. The Party supplying such Materials will 

  
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provide the other Party together with the Materials any available information related to the safe and proper storage and handling of the Materials. The Party supplying such Materials hereby
represents and warrants that it has the right and authority to provide and make available such Materials to the other Party for use as contemplated hereunder. 
 2.3 Subcontractors. Either Party may subcontract any of its activities for the Product Development and Manufacturing Program to a Third Party, provided that any such Third Party is
reasonably acceptable to both Parties and must have entered into a written agreement with such Party that includes terms and conditions protecting and limiting use and disclosure of Confidential Information and Know-How at least to the same extent
as under this Agreement and requiring the Third Party and its personnel to assign to such Party all right, title and interest in and to any materials, technology and intellectual property (and intellectual property rights therein) created or
conceived in connection with performance of subcontracted activities. Each Party is responsible for compliance by such Third Party with the applicable terms and conditions of this Agreement and the Supply and Quality Agreements as applicable. For
clarity AstraZeneca might need to inspect a potential subcontractor as per its internal validation process before it can deem such subcontractor acceptable. For the avoidance of doubt all Third Parties of BIND shall be required to confirm their
compliance with AstraZeneca’s Global Responsible Procurement Standard (http://www.astrazeneca.com/Responsibility/Working-with-supplier) prior to use or within thirty (30) days of the Effective Date for existing Third Parties. 

Section 3. Relationship Management. 
 3.1 Program Leads. On or as soon as practicable after the Effective Date (but in all cases prior to the first meeting of the JSC), each of BIND and AstraZeneca will designate one of its individual
employees to serve as that Party’s lead and primary point of contact for matters related to the coordination of Product Development and Manufacturing Program activities (each, a “Program Lead”). The Program Leads will also
serve as co-chairpersons of the JSC with responsibility for generating JSC meeting schedules and agendas and other administrative matters related to the conduct of JSC meetings. A Party will have the right to change its Program Lead and designate a
different one of its individual employees to serve as that Party’s Program Lead by providing written notice thereof the other Party. 
 3.2 Joint Steering Committee. 
 (a) On or as soon as practicable after the
Effective Date, the Parties will establish a Joint Steering Committee (the “JSC”), comprised of the two (2) Program Leads, two (2) representatives of BIND, and two (2) representatives of AstraZeneca. The Parties may
agree to increase the number of representatives each Party may nominate provided that at any time both Parties have an equal number of representatives. Each Party may replace any of its representatives on the JSC at any time upon written notice to
the other Party. 
 (b) The attendance and participation in any JSC meeting of any Third Party consultant or subcontractor will
be subject to the prior written consent of the other Party (which will not be unreasonably withheld). Any such consent will be conditioned upon the following: (i) the Third Party consultant or subcontractor is bound by written obligations of
confidentiality and non-use to the requesting Party that are consistent with the provisions of this Agreement; and (ii) the Third Party consultant or subcontractor enters into a suitable confidentiality and non-use agreement with the consenting
Party. 

  
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 (c) The JSC will meet during the term of the Product Development and Manufacturing
Program at least semi-annually, or as otherwise agreed, at such times as are agreed to by the JSC members. Such meetings may be in-person, via videoconference, or via teleconference. Meetings of the JSC will be effective only if at least one
(1) representative of each Party is present or participating. BIND’s Program Lead will be responsible for chairing JSC’s meetings during the first twelve (12) months of the Term, and such responsibility will thereafter alternate
between AstraZeneca’s Program Lead and BIND’s Program Lead for twelve (12) month periods during the remainder of the Term. 
 (d) The JSC will be responsible for reviewing progress toward completion of the Product Development and Manufacturing Program and the associated budgets. The JSC shall not have any right to make any
binding or other decisions or determinations with respect to the Product Development and Manufacturing Program and, for the sake of clarity and the avoidance of doubt, AstraZeneca shall have final decision-making authority, except as otherwise
provided in this Agreement. 
 (e) From time-to-time, the JSC may establish and delegate specific matters or types of matters
within its jurisdiction to subcommittees or directed teams (“Subcommittees”), the composition of which shall be determined by the JSC. 
 (f) The JSC shall within thirty (30) days of the Effective Date establish a Joint Working Team (“JWT”) with representation from AstraZeneca and Bind that will serve as a joint
working group for the purpose of implementing the Product Development and Manufacturing Program and associated budget approved by the JSC, coordinating the practical aspects of the parties’ collaboration under the Agreement, handling day-to-day
issues in relation thereto and facilitating communication between the parties in respect thereof. AstraZeneca shall have sole responsibility for chairing all JWT meetings. The responsibilities of the JWT will be defined by the JSC and will include
being responsible for: (i) delivering the Product Development and Manufacturing Program approved by the JSC (ii) proposing to the Program Leads revisions of the Product Development and Manufacturing Program Plan and associated budget in
accordance with Section 2.1(b); (iii) reviewing and approving the Agreed Quarterly Budget proposed by BIND in accordance with Sections 2.1(c) and 8.5(a); and (iv) reviewing and approving the actual quarterly
expenditure incurred by BIND in accordance with Sections 2.1(d) and 8.5(a). AstraZeneca shall have final decision making authority on the JWT except as otherwise provided in this Agreement. 

(g) The JSC shall within thirty (30) days of the Effective Date form a Joint Patent Team consisting of at least one (1) member
from each Party in order to oversee and agree upon the patenting strategy to be adopted and the handling of the prosecution, maintenance, defense and enforcement of any patents in accordance with the terms of this Agreement, including
Section 9, Section 10 and Section 11. Any disputes that are not resolved by the JSC shall be determined in accordance with Section 15.7. The Parties acknowledge that the Joint Patent Team shall
continue to exist and function for as long as those activities for which it is responsible are required to be undertaken. 

(h) The JSC will cease to exist upon the expiration or termination of the Product Development and Manufacturing Program Term.

  
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 Section 4. Clinical Development and Commercialization of Product
Candidates and Products. 
 4.1 Clinical Development & Commercialization Program. 

(a) Subject to compliance with the terms and conditions set forth herein, AstraZeneca will be solely responsible for designing and
performing all aspects of the Clinical Development & Commercialization Program, and AstraZeneca will have sole responsibility for all costs and expenses arising therefrom. Subject to compliance with the terms and conditions set forth
herein, AstraZeneca will have sole decision-making authority with respect to the design and conduct of the Clinical Development & Commercialization Program. 
 (b) To the extent that BIND has, during the Product Development and Manufacturing Program Term, provided or otherwise made available to AstraZeneca any Materials for use in performance of the Product
Development and Manufacturing Program Plan, AstraZeneca will have the right to continue to use such Materials as necessary in connection with the Clinical Development & Commercialization Program, to the same extent as the license by BIND in
Section 7.1 and subject to AstraZeneca’s compliance with Section 2.2(c). 
 (c) The Clinical
Development and Commercialization activities to be undertaken and performed by AstraZeneca in connection with the Clinical Development & Commercialization Program are set forth in a plan agreed in writing by the Parties (the
“Clinical Development & Commercialization Plan”). Any modifications or amendments to the Clinical Development & Commercialization Plan that would alter the type or amount of resources required for BIND to perform
its obligations thereunder shall be subject to review and prior written approval by BIND except for help provided with regulatory filings or interaction with regulatory activities as described in Section 4.3. If BIND is unwilling or
unable to carry out such work as required, then the Parties shall promptly appoint a Third Party that is reasonably acceptable to BIND and AstraZeneca or enable AstraZeneca to undertake such work in order to ensure such work is completed without
delay. 
 4.2 Information Sharing During the Clinical Development & Commercialization Term. 

(a) During each meeting of the JSC during the Exclusivity Period and the performance of the Clinical Development &
Commercialization Plan (the “Clinical Development & Commercialization Term”), AstraZeneca will provide BIND with an update on its strategic plans and progress of Clinical Development and Commercialization of Product
Candidates and Products. AstraZeneca will also consider in good faith any reasonable requests by BIND for additional information related thereto. 
 (b) During the Exclusivity Period, AstraZeneca will provide semi-annual progress reports to the JSC regarding the status and results of its efforts to Develop and Commercialize Product Candidates and
Products in the Field and Territory. Each such report will include a summary of the following: [***]. Such reports may (as determined by AstraZeneca in its sole discretion) be provided in writing or in the form of an audio-visual presentation. All
such reports shall be considered and treated as Confidential Information of AstraZeneca in accordance with Section 12 hereof. 
  

 

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 (c) Following the end of the Exclusivity Period and during
the performance of the Clinical Development & Commercialization Plan, AstraZeneca will provide an annual progress report to BIND regarding the status of its efforts to Develop and Commercialize Product Candidates and Products in the Field
and Territory. Each such report will include a summary of the following: [***]. The progress report will be deemed to be Confidential Information of AstraZeneca in accordance with Section 12. 

4.3 Regulatory. 
 (a) AstraZeneca shall be responsible for preparing, submitting and maintaining all Regulatory Documentation that incorporates CMC Data for Product Candidates and Products, including Regulatory Approvals
therefor. BIND will provide all reasonable assistance to AstraZeneca for the preparation of Regulatory Documentation, including response to questions from regulatory authorities, as requested by AstraZeneca. BIND shall provide AstraZeneca on a
quarterly basis with a budget for such assistance. [***] 
 (b) All Regulatory Approvals and related Regulatory Documentation
received from any Regulatory Authority in the Territory for Product Candidates or Products will be the sole property of AstraZeneca and held in the name of AstraZeneca (or in each such case its Affiliate or Sublicensee). 

(c) [***] 

(d) Preparation of Regulatory Submissions. 
 (i) [***] 
 (ii) [***] 

(e) [***] 

(f) From and after receipt of each Regulatory Approval, subject to compliance with the terms and conditions set forth herein,
AstraZeneca will have authority and responsibility to submit all reports or amendments necessary to maintain Regulatory Approvals and to seek revisions of the conditions of each such Regulatory Approval. AstraZeneca will have authority and
responsibility to seek and obtain any necessary Regulatory Authority approvals of any product label, or Regulatory Authority-approved prescribing information, package inserts, monographs and packaging used in connection with Products, as well as
promotional material used in connection with Products, and for determining whether the same requires Regulatory Approval. 
 4.4
Commercialization. Subject to compliance with the terms and conditions set forth herein, AstraZeneca will be solely responsible for and control Commercialization of Products, and AstraZeneca will have sole responsibility for all costs and
expenses arising therefrom. 
  
  

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 4.5 Diligence. AstraZeneca will use, or will cause its
Affiliates and Sublicensees to use, Commercially Reasonable Efforts to Develop, seek Regulatory Approval for, and following Regulatory Approval, to Commercialize Product Candidates and Products in the Field and Territory. 

4.6 Record Keeping and Reports. AstraZeneca will prepare and maintain, and will cause its Affiliates and Sublicensees, to prepare
and maintain, appropriate records (in accordance with its standard policies and procedures) regarding the Clinical Development and Commercialization of Product Candidates and Products. 
 Section 5. Manufacturing. 
 5.1 Promptly following the Effective Date,
the Parties will negotiate in good faith towards a supply agreement pursuant to which BIND will Manufacture or have Manufactured, Product Candidates and Products for use in preclinical and Phase I and (as necessary) Phase II Clinical Trials (the
“Supply Agreement”) and a quality agreement pertaining to such activities (the “Quality Agreement”), as well as Investigator Sponsored Studies which are initiated before the beginning of any Phase III Clinical
program. The Supply Agreement and the Quality Agreement will each contain terms and conditions substantially similar to those set out in Schedule 5.1 and such other reasonable terms as are customarily included in similar pre-commercial supply
agreements and quality agreements. For the avoidance of doubt the Quality Agreement shall include the requirement for BIND to establish a quality management system framework prior to the manufacture of clinical Product Candidates and Products in
addition to the control and review of outsourced activities and report to AstraZeneca any regulatory compliance issues with its subcontractors as well as any critical quality non-conformances relating to the Products Candidates and Products. The
Parties’ objective is that the Supply Agreement and the Quality Agreement shall be entered into as soon as reasonably practical and within [***]. 
 5.2 Commercial Supply. BIND and AstraZeneca will cooperate to transition the Manufacturing of Product Candidates and Product to a Third Party manufacturer for the establishment of a
commercial/Phase III Clinical Trial manufacturing capability. BIND shall have the right to submit an offer of terms for the commercial supply of Product Candidates and Product to AstraZeneca and AstraZeneca will consider such terms in good faith,
together with any other Third Party offers received. If the terms offered by BIND are not accepted by AstraZeneca, BIND shall collaborate with the successful Third Party manufacturer to transfer capability and responsibility to that Third Party
manufacturer. In such event, AstraZeneca shall be responsible for the further Manufacturing of Product Candidates and Products and shall contract directly with any Third Party manufacturer. BIND will cooperate to provide to AstraZeneca or such Third
Party manufacturer, under obligations of confidentiality and non-use to provide robust protection of BIND’s intellectual property in form and substance satisfactory to BIND, all existing manufacturing information then in BIND’s possession
and control and reasonably required for such Third Party to perform such Manufacturing of Product Candidates and Products for AstraZeneca. BIND will also, in connection therewith, grant to AstraZeneca and such Third Party manufacturer a
non-exclusive license to use such manufacturing technology solely for the purposes of performing the Manufacturing of Product Candidates and Products for 
  

 

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AstraZeneca. AstraZeneca shall be solely responsible for all costs associated with the purchase of Product Candidates and Products from such Third Party manufacturer. To the extent required to
satisfy 35 USC § 204, AstraZeneca agrees that any Products used or sold in the United States will be manufactured substantially in the United States. BIND will have no responsibility to AstraZeneca for AstraZeneca’s further supply of
Product Candidates and Products to be provided by a Third Party manufacturer pursuant to this Section 5.2; provided that, AstraZeneca and BIND shall remain in communication throughout Clinical Development and Commercialization regarding
AstraZeneca’s manufacturing requirements and any technical or other issues in connection therewith and BIND’s expertise and resources that could be made available to AstraZeneca on terms to be negotiated by the Parties. 

Section 6. Exclusivity. 
 6.1 Exclusive Relationship. For the period of [***] from the Effective Date (the “Exclusivity Period”), except in the performance of its obligations under this Agreement, BIND will
not, on its own or with a Third Party, research, Develop or Commercialize any other [***] Kinase Inhibitor for use in the Field; provided that AstraZeneca is conducting an active and ongoing research, Clinical Development and
Commercialization program throughout the Exclusivity Period. 
 6.2 Exclusivity Renewal. AstraZeneca may elect to extend
the Exclusivity Period by giving BIND written notice of its desire to extend its exclusivity, such notice to be received by BIND no less than [***], and paying the Exclusivity Renewal Fee to BIND. At each subsequent anniversary, AstraZeneca may
elect to extend the then-current Exclusivity Period by providing written notice to BIND, such notice to be received by BIND no less than [***] prior to the termination of the then-current Exclusivity Period, and paying the Exclusivity Renewal Fee to
BIND. 
 6.3 Exclusivity in Change of Control. Upon a Change of Control, BIND’s acquiror shall be permitted to
conduct research, Develop or Commercialization of [***] Kinase Inhibitors for use in the Field; provided, however, that if the Exclusivity Period is still in effect at the time of such Change of Control, then AstraZeneca shall have the
right within [***] after such Change of Control to require BIND to effect a transfer of BIND Background Technology sufficient to permit AstraZeneca or any nominated Third Party to Manufacture a Product Candidate alone and in the Product. BIND shall
also make available to AstraZeneca or any nominated Third Party the reasonable assistance of BIND employees and shall request that any Third Party manufacturer (if appointed) be available to support the transfer of the manufacturing technology to
AstraZeneca. BIND shall use Commercially Reasonable Efforts to ensure that these personnel will co-operate with AstraZeneca in the implementation of the manufacturing technology until such implementation has been completed successfully. BIND shall
in addition put in place all necessary procedures to ensure that all Confidential Information generated under this Agreement or disclosed by AstraZeneca to BIND relating to the Product Candidate remains protected and is not disclosed to any persons
involved in the research, Develop or Commercialize [***] Kinase Inhibitors at such acquirer, other than under this Agreement. 
  

 

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 6.4 Non-Compete. BIND agrees during the Agreement Term
that it will not outside of this Agreement develop or assist any Third Party to develop a nanoparticulate formulation of [***]. 

Section 7. Licenses and Other Rights. 
 7.1 License to AstraZeneca. 
 (a) Subject to the terms and conditions of
this Agreement, BIND hereby grants to AstraZeneca and its Affiliates an exclusive (including with regard to BIND and its Affiliates) worldwide, royalty-bearing license in the Field under the Exclusive Licensed Technology to research, develop
(including to conduct Clinical Development), Manufacture, Commercialize, import, use, sell, offer for sale and otherwise exploit a Product Candidate alone and in the Product. 
 (b) BIND and its Affiliates hereby grants to AstraZeneca a non-exclusive worldwide, royalty-bearing license in the Field under the Non-Exclusive Licensed Technology to research, develop (including to
conduct Clinical Development), Manufacture, Commercialize, import, use, sell, offer for sale and otherwise exploit a Product Candidate alone and in the Product in the Field. 
 (c) Notwithstanding the foregoing licenses in Sections 7.1(a) and (b), any license granted under Patents and Know-How Controlled by BIND necessary or useful for the manufacturing process for
the Product Candidate alone and in the Product shall be limited to the Manufacture by AstraZeneca in its own manufacturing facility or in the facility of a Third Party manufacturer solely for manufacturing and supply to AstraZeneca, and is further
subject to those conditions and obligations in this Agreement. 
 7.2 Non-Exclusive Research License by BIND. BIND hereby
grants to AstraZeneca a royalty-free, fully paid-up, non-exclusive, nontransferable (except in connection with a permitted assignment of this Agreement in accordance with Section 15.1) license in the Territory during the Product
Development and Manufacturing Program Term under the BIND Background Technology and BIND Program IP for the sole and limited purpose of permitting AstraZeneca to perform its obligations under the Product Development and Manufacturing Program.
AstraZeneca will have the limited right to grant sublicenses of such license to its Affiliates or to Third Party subcontractors only if and to the extent necessary for such Affiliates or Third Party subcontractors to perform activities under the
Product Development and Manufacturing Program Plan for and on behalf of AstraZeneca in accordance with the terms of Section 2.3. 
 7.3 Non-Exclusive Research License by AstraZeneca. AstraZeneca hereby grants to BIND a royalty-free, fully paid-up, non-exclusive, nontransferable (except in connection with a permitted assignment
of this Agreement in accordance with Section 15.1) license in the Territory during the Product Development and Manufacturing Program Term under the AstraZeneca Background Technology and AstraZeneca Program IP for the sole and limited purpose of
permitting BIND to perform its obligations under the Product Development and Manufacturing Program. BIND will have the limited right to grant sublicenses of such license to its Affiliates or 
  
  

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to Third Party subcontractors only for such Affiliates or Third Party subcontractors to perform activities under the Product Development and Manufacturing Program Plan for and on behalf of BIND
in accordance with the terms of Section 2.3. 
 7.4 Accurin Data License. AstraZeneca hereby grants to BIND
and its Affiliates a perpetual, irrevocable, non-exclusive, royalty-free, fully paid-up worldwide license, with the right to sublicense, to use certain data [***] which is generated under this Agreement and that are Controlled by AstraZeneca and its
Affiliates and Sublicensees, to research, develop (including to conduct Clinical Development) and Commercialize Accurin-containing molecules or other drug candidates (and pharmaceutical compositions and preparations thereof), but not any Product.
[***] The benefit of and all rights to use all Accurin Data obtained by BIND from other partners shall be included within the grant to AstraZeneca of Non-Exclusive Licensed Technology. Before disclosing to any Third Party any Accurin Data identified
under this Agreement, BIND shall first identify such data and provide a copy of it to AstraZeneca. AstraZeneca shall within twenty one (21) days of the date of disclosure to AstraZeneca review such data and confirm whether in AstraZeneca’s
reasonable opinion it constitutes Accurin Data (as defined above). If the Parties are unable to agree any such dispute shall be resolved in accordance with Section 15.7. Once data is agreed or determined to be Accurin Data there shall be
no further need to seek any subsequent approval to use such data in accordance with this Section 7.4. 
 7.5
Transfer and Sublicensing. 
 (a) The licenses granted in Sections 7.1(a) and (b) are transferable
only upon a permitted assignment of this Agreement in accordance with Section 15.1. 
 (b) AstraZeneca shall have
the right to grant sublicenses, through multiple tiers of sublicensees, under the licenses granted in Sections 7.1(a) and (b), to its Affiliates and to any Third Party to act as a Distributor (as defined below). Where AstraZeneca
grants a sublicense to a Person that is not an Affiliate of AstraZeneca, and such Person is not a Distributor, such Person shall be a “Sublicensee” for purposes of this Agreement.

(c) AstraZeneca and its Affiliates shall have the right (without any requirement of consent) to grant to any Third Party the right to
sell Products under AstraZeneca’s brand name where title to such Product transfers to such Third Party (each such Third Party, a “Distributor”) provided that (a) such grant does not include the grant of any rights to
conduct Clinical Development or Commercialize a Product other than to sell Products under AstraZeneca’s brand name and (b) the appointed Distributor purchases its requirements of Products from AstraZeneca or its Affiliates but does not
otherwise make any royalty, milestone or other payments (including non-monetary consideration) to AstraZeneca. If a Third Party (i) has the right to conduct Clinical Development or Commercialize a Product other than to sell Products under
AstraZeneca’s brand name and (ii) makes any royalty, milestone or other payments (including non-monetary consideration) other than for its own requirements of Products from AstraZeneca or any Affiliate of AstraZeneca to AstraZeneca or its
Affiliates, then such Third Party shall be deemed to be Sublicensee under this Agreement. 
  

 

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 (d) The licenses granted in Sections 7.1(a) and
(b) may be sublicensed and other rights granted thereunder by AstraZeneca to Third Parties, but without the right to grant further sublicenses or other rights thereunder, only in compliance with the following: 

(i) AstraZeneca may grant a sublicense to an Affiliate provided such sublicense only remains in effect for as long as such
Affiliate remains an Affiliate of AstraZeneca; 
 (ii) AstraZeneca may grant a sublicense to non-Affiliated Third Parties that
are clinical research organizations, contract manufacturers, contract laboratory organizations, and other similar organizations (including those undertaking investigator initiated studies) that support the development (including the Clinical
Development) and Commercialization of Product Candidates and Products on a fee-for-service or other basis, provided that such sublicenses include obligations of confidentiality and non-use to provide robust protection of BIND’s intellectual
property in form and substance reasonably satisfactory to BIND; 
 (iii) [***] AstraZeneca may grant a sublicense to other
non-Affiliated Third Parties as a Sublicensee hereunder, provided that if AstraZeneca proposes entering into an agreement by which AstraZeneca would grant an exclusive right to develop (including to conduct Clinical Development) or Commercialize a
Product in a Major Market Country, then AstraZeneca shall be required to obtain BIND’s prior written consent (which consent will not be unreasonably withheld); 
 (iv) AstraZeneca will provide BIND with a copy of any Sublicensee agreement with a non-Affiliated Sublicensee within thirty (30) days of execution thereof provided that AstraZeneca may redact any
information that is not necessary to disclose to ensure compliance with this Agreement; 
 (v) AstraZeneca will be responsible
for any and all obligations of any such Sublicensee as if such Sublicensee were “AstraZeneca” hereunder; 
 (vi) Any
such Sublicensee will agree in writing to be bound by similar obligations as “AstraZeneca” hereunder with respect to the activities of such Sublicensee hereunder (and not with respect to the activities of any other); and 

(vii) BIND will be made an express third-party beneficiary of any such Sublicensee’s obligations under such agreement that relate
to compliance with the terms and conditions of this Agreement. 
 7.6 No Other Licenses or Rights. Nothing herein will be
construed as creating, granting or otherwise conveying to either party any license or other right (whether by implication, estoppel or otherwise) other than those licenses and other rights that are expressly provided for in this Agreement.

 Section 8. AstraZeneca Payments to BIND. 
 8.1 Upfront Payment. Within ten (10) days after the Effective Date, AstraZeneca will pay to BIND [***] as a non-refundable and non-creditable upfront payment. 

 
  

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 LICENSE AGREEMENT 

 
 8.2 Milestone Payments. 

(a) AstraZeneca will make milestone payments (“Milestone Payments”) to BIND upon achievement of each of the milestone
events listed on the table below (“Milestone Events”) by or on behalf of AstraZeneca, an Affiliate or a Sublicensee. Each Milestone Payment shall be payable a maximum of one (1) time. Each Milestone Payment will be payable by
AstraZeneca to BIND within [***] after the achievement of the corresponding Milestone Event, and will be non-refundable and non-creditable. 
  

					
	 Milestone Event
	  	Milestone Payment	 
	[***] Milestones	  
	 [***]
	  	 	[***]	  
	[***] Milestones	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	[***] Milestones	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	[***] Milestone	  
	 [***]
	  	 	[***]	  

 (b) For the purpose of the Approval Milestones in the table above, a second type of solid tumor will be
a solid tumor affecting a different organ from the first type of solid tumor or a distinctly different type of tumor in the same organ as defined by standard clinical practice at the time. For example, small cell lung cancer and non-small cell
lung cancer are different types of tumors as defined by current standard clinical practice. 
  

 

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 LICENSE AGREEMENT 

 
 (c) If a Milestone Event described above for any of Phase I
Clinical Trial, Phase II Clinical Trial, or Phase III Clinical Trial is not achieved for a Product Candidate or Product, but one or more of subsequent Milestone Events described above for the same Product Candidate or Product is achieved, (e.g.,
approval is sought for example on a Phase II/III Clinical Trial), each such earlier skipped Milestone Payment will then be due and payable with and in addition to such subsequently achieved Milestone Payment. 

(d) AstraZeneca will give BIND notice of when AstraZeneca reasonably believes it will achieve a Milestone Event. 

8.3 Royalties. 
 (a) Royalties. Subject to the terms and conditions of this Agreement, AstraZeneca will pay to BIND royalties on Net Sales, for the period of time specified in Section 8.3(b), at the
graduated royalty rates specified in the following table with respect to the aggregate annual worldwide Net Sales of all Products in the Territory in a calendar year: 
  

					
	 Aggregate Annual Worldwide Net Sales of All Products in a Calendar Year
	  	Royalty Rate	 
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  
	 [***]
	  	 	[***]	  

 The applicable royalty rate will be determined by reference to all Net Sales on which royalties are paid
in a given calendar year. By way of example, in a given calendar year, if the aggregate annual worldwide Net Sales for all Products for which royalties are due under this Section 8.3(a) were [***], the following royalty payment would be
payable under this Section 8.3(a) (subject to all reductions set forth in this Agreement): [***]. 
 (b) Royalty
Term. Royalties due under this Agreement with respect to a particular Product in a particular country in the Territory will commence upon the First Commercial Sale of such Product in such country and end on the date on which all of the following
are true: (i) such Product is no longer covered by a Valid Claim within the Exclusive Licensed Technology, (ii) the Product is no longer covered by a Valid Claim covering the composition of matter of the Compound or Product within Patents
Controlled by AstraZeneca in such country, (iii) no Regulatory Exclusivity exists for such Product in such country, and (iv) [***] (such period, the “Royalty Term”). Following the end of the Royalty Term, on a
country-by-country and Product-by-Product basis, AstraZeneca shall have a royalty-free, perpetual, irrevocable, worldwide license, with the right to sublicense, to the Exclusive Licensed Technology and Non-Exclusive Licensed Technology relating to
such Product in such country. 
  
  

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 LICENSE AGREEMENT 

 
 (c) Additional Royalty Provisions. 

(i) Only one royalty will be due with respect to the sale of the same unit of Product. 

(ii) Royalties when owed or paid hereunder will be non-refundable and non-creditable and not subject to set-off, except
as expressly set forth herein. 
 (iii) Only one royalty will be due hereunder on the sale of a Product even if
the Manufacture, use, sale, offer for sale or importation of such Product infringes more than one (1) Patent. 
 8.4
Third Party Licenses. During the Agreement Term, BIND will have the first option of securing and paying for all costs associated with any Third Party licenses which are necessary to secure in order to provide the Parties with freedom to
operate under this Agreement with respect to the Exclusively Licensed Technology or Non-Exclusively Licensed Technology. If AstraZeneca becomes aware of any such Third Party Patent rights it will provide prompt notice thereof to BIND and BIND will
have the first right and opportunity to secure a license or similar rights thereto at its sole expense. Such rights shall automatically become part of the Exclusively Licensed Technology or Non-Exclusively Licensed Technology, as applicable, at no
additional cost to AstraZeneca. If BIND opts not to exercise such right, then AstraZeneca shall have the option to obtain such rights in the relevant country or region within the Territory and shall be permitted to credit [***] of the amounts
payable thereunder against royalties that are payable to BIND for sales in such countries or regions in the Territory; provided that such credit shall be limited so that no royalty payment due to BIND shall be reduced by more than [***].
Amounts that are not currently creditable due to the application of such limitation shall be carried-forward to future payment periods. AstraZeneca shall be responsible for securing and paying for any Third Party licenses required to have freedom to
operate otherwise with respect to the Product Candidate or Product. 
 8.5 FTE; External Expenses; Reimbursement of
Prosecution and Maintenance Expenses. The payment of funding for BIND FTEs and External Expenses will be due and payable as further provided in this Section 8.5 

(a) Quarterly FTE and External Expense Payments. AstraZeneca will pay BIND the FTE Rate for the number of FTEs of BIND and the
External Expenses of BIND specified in the Product Development and Manufacturing Program Plan during the Product Development and Manufacturing Program Term on a quarterly basis in arrears. BIND shall provide AstraZeneca with a budget for such FTE
costs and External Expenses on a Quarterly basis that will detail Third Party payments. The Parties acknowledge that actual expenditure may differ from budgeted amounts, and accordingly agree that the aggregate amount actually spent by BIND may be
higher than the amount specified in each Agreed Quarterly Budget. In the event BIND’S costs in the aggregate exceed the amount budgeted in any Agreed Quarterly Budget covering those activities set out in the Product Development and
Manufacturing Program Plan by more than [***] and unless such additional cost has been agreed to in writing by AstraZeneca, then JSC shall determine if such excess amount is reasonable under the circumstances. If the JSC determines such excess
amounts are reasonable, such amounts shall be deemed out-of-pocket 
  

 

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 LICENSE AGREEMENT 

 
 
costs suitable for re-imbursement; otherwise, the excess shall be the responsibility of BIND. All costs incurred by BIND in accordance with this Agreement which are determined to be
non-cancellable costs shall be paid by AstraZeneca. 
 (b) Timing of FTE and External Expense Payments. At the end of
each Quarter, BIND shall submit an invoice to AstraZeneca. The invoice shall be in sufficient detail to allow AstraZeneca to verify that the activities have been performed in accordance with the Product Development and Manufacturing Program Plan and
the relevant purchase order and that the External Expenses have been incurred. AstraZeneca shall pay to BIND within [***] after receipt by AstraZeneca of such invoice. Unless otherwise instructed by AstraZeneca in writing, all invoices and
supporting documentation shall be sent to AstraZeneca in accordance with the details set forth in the purchase order. 
 (c)
Additional FTE Commitment; External Expense. If AstraZeneca requests BIND to perform additional work under this Agreement (that is, in addition to the work to be performed under Section 2.1 and the manufacture and supply services
to be performed under Section 5.1), AstraZeneca and BIND will either (A) agree to a work plan and FTE and external expense budget for such additional work in which case FTE and external expense funding will be advanced in the manner
described in Sections 8.5(a) and (b) or (B) BIND will invoice AstraZeneca for actual FTE and external expense costs incurred at the FTE Rate and actual external expenses incurred on a monthly basis and such invoices shall be
payable by AstraZeneca within [***]. 
 (d) Initial Capital Equipment. With respect to the large process capital
equipment identified in Table 3 of the Product Development and Manufacturing Agreement which shall be acquired by BIND, AstraZeneca shall reimburse BIND for the use of such equipment in an amount equal to [***], which shall be payable in [***].
Within [***] of such acquisition, BIND shall submit an invoice to AstraZeneca for each such payment. AstraZeneca shall pay to BIND within [***] after receipt by AstraZeneca of each invoice. For clarity, for any use of this equipment required by
AstraZeneca after payment of the last Quarterly payment BIND shall make no charge for such use. 
 (e) Reimbursement of
Prosecution and Maintenance Expenses. AstraZeneca will pay to BIND AstraZeneca’s share of the costs and expenses of Prosecution and Maintenance of the BIND Background Patents as set forth in Section 10.1(b). BIND shall submit an
invoice to AstraZeneca on a Quarterly basis for each such payment. AstraZeneca shall pay to BIND within [***] after receipt by AstraZeneca of each invoice. 
 8.6 Payment Terms. 
 (a) Manner of Payment. All payments to be made
by AstraZeneca hereunder will be made in US dollars by wire transfer in accordance with the following instructions or such other instructions as BIND may designate during the term: 

Beneficiary Bank Information: 
 [***] 
  

 

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 LICENSE AGREEMENT 

 
 (b) Payment of Expenses. AstraZeneca shall reimburse
BIND within [***] of receiving any invoice from BIND for those expenses incurred by BIND in accordance with Section 8.5. 
 (c) Reports and Royalty Payments. For as long as royalties are due under Section 8.3(a), AstraZeneca will furnish to BIND a written report on a Product-by-Product and country-by-country
basis, within [***] after the end of each calendar quarter, showing the amount of Net Sales of Products and royalty due for such calendar quarter. Royalty payments for each calendar quarter will be due at the same time as such written report for the
calendar quarter. The report will include, at a minimum, the following information for the applicable calendar quarter, each listed by Product and by country of sale: (i) the number of units of Products sold or distributed by AstraZeneca and
its Affiliates and Sublicensees, and that number of such units on which royalties are due hereunder; (ii) the gross amount received for such sales; (iii) deductions taken from Net Sales as specified in the definition thereof; (iv) Net
Sales; (v) the royalties owed; and (vi) the computations for any applicable currency conversions pursuant to Section 8.6(e). All such reports will be treated as Confidential Information of AstraZeneca. AstraZeneca will also
report the date of First Commercial Sale of each Product in each country within [***] after occurrence thereof. 
 (d)
Records and Audits. AstraZeneca will keep, and will cause each of its Affiliates and Sublicensees to maintain, complete and accurate books and records relating to the rights and obligations under this Agreement and any amounts payable to BIND
in relation to this Agreement, which records shall contain sufficient information to permit BIND to confirm the accuracy of any reports delivered to BIND and compliance in other respects of this Agreement. For the five (5) years next following
the end of the calendar year to which each will pertain, such books and records will be kept at each of their principal place of business and will be open for inspection no more than once per calendar year at reasonable times by an independent
certified accountant selected by BIND, to verify any reports and payments made or compliance in other respects under this Agreement. Such accountant must have executed and delivered to AstraZeneca a confidentiality agreement as reasonably requested
by AstraZeneca. The results of such inspection, if any, will be binding on both Parties. Any underpayments will be paid by AstraZeneca within [***] of notification of the results of such inspection. Any overpayments will be creditable against
amounts payable in subsequent payment periods. BIND will pay for such inspections, except that in the event there is any upward adjustment in aggregate royalties payable for any calendar year shown by such inspection of more than [***] of the amount
paid, AstraZeneca will reimburse BIND for any reasonable costs and expenses of such accountant. 
 (e) Currency
Exchange. With respect to Net Sales invoiced in U.S. dollars, the Net Sales and the amounts due to BIND hereunder will be expressed in U.S. dollars. With respect to Net Sales invoiced in a currency other than U.S. dollars, the Net Sales will be
expressed in the domestic currency of the entity making the sale, together with the U.S. dollar equivalent, calculated using the official rate of exchange of such domestic currency as quoted by the Wall Street Journal, New York edition, for the last
business day of the calendar quarter for which the payment is made. 
  

 

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 LICENSE AGREEMENT 

 

 (f) Tax The royalties, milestones and other amounts payable by AstraZeneca to
Licensor pursuant to this Agreement (“Payments”) shall not be reduced on account of any Taxes unless required by Applicable Law. Each Party alone shall be responsible for paying any and all Taxes (other than withholding taxes
required by Applicable Law to be paid by AstraZeneca) levied on account of, or measured in whole or in part by reference to, the income of such Party.
 (g) Tax Withholding. AstraZeneca shall deduct or withhold from the Payments any Taxes that it is required by Applicable Law to deduct or withhold. Notwithstanding the foregoing, if BIND is
entitled under any applicable treaty to a reduction of rate of, or the elimination of, applicable withholding tax, it may deliver to AstraZeneca or the appropriate governmental authority (with the assistance of AstraZeneca to the extent that this is
reasonably required and is expressly requested in writing) the prescribed forms necessary to reduce the applicable rate of withholding or to relieve AstraZeneca of its obligation to withhold Tax, and AstraZeneca shall apply the reduced rate of
withholding, or dispense with withholding, as the case may be, provided that AstraZeneca has received evidence, in a form reasonably satisfactory to AstraZeneca, of BIND’s delivery of all applicable forms (and, if necessary, its receipt of
appropriate governmental authorization) at least fifteen (15) days prior to the time that the Payments are due. If, in accordance with the foregoing, AstraZeneca withholds any amount, it shall pay to BIND the balance when due, make timely
payment to the proper Tax Authority of the withheld amount, and send to BIND proof of such payment within sixty (60) days following that payment. BIND will also indemnify AstraZeneca for any tax, interest or penalties imposed on
AstraZeneca if AstraZeneca improperly reduces or eliminates withholding tax based upon BIND’s representations in such prescribed forms. 
 (h) Indirect Taxes. All Payments are exclusive of Indirect Taxes. If any Indirect Taxes are chargeable in respect of any payments, the paying Party shall pay such Indirect Taxes at the
applicable rate in respect of such payments following receipt, where applicable, of an Indirect Taxes invoice in the appropriate form issued by the receiving Party in respect of those payments.

The Parties shall issue invoices for all amounts payable under this Agreement consistent with Indirect Tax requirements and irrespective of whether the
sums may be netted for settlement purposes. If such amounts of Indirect Taxes are refunded by the applicable Governmental Authority or other fiscal authority subsequent to payment, the Party receiving such refund will transfer such amount to
the paying Party within forty-five (45) days of receipt. The Parties agree to reasonably cooperate to provide any information required by the Party pursuing a refund of Indirect Taxes paid. 

(i) Imports. For the avoidance of doubt, the Parties acknowledge and agree that none of the upfront payments, milestone payments
or royalties payable under this Agreement are related to the license (or right) to import products. The Parties shall cooperate in accordance with Applicable Laws to maximize the full benefits of available duty free or savings programs such as
Free Trade Agreements or other Special Trade Programs to ensure where permissible no import duties are paid on imported products. The receiving Party shall be responsible for any import clearance, including payment of any import duties and
similar charges, in connection with any products transferred to such Party under this Agreement. 
 (j) Interest Due.
AstraZeneca will pay BIND interest on any payments that are not paid on or before the date such payments are due under this Agreement (before and after any 

  
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 LICENSE AGREEMENT 

 

 
judgment) at an annual rate (but with interest accruing on a daily basis) of the lesser [***] above the prime rate as reported in The Wall Street Journal, New York Edition, and the maximum rate
permitted by applicable law, such interest to run from the date upon which payment of such sum became due until payment thereof in full together with such interest. 
 8.7 Mutual Convenience of the Parties. The royalty and other payment obligations set forth hereunder have been agreed to by the Parties for the purpose of reflecting and advancing their mutual
convenience, including the ease of calculating and paying royalties and other amounts to BIND. 
 Section 9. Intellectual Property.

 9.1 Background Technology. As between the Parties, (a) BIND will own all right, title and interest in and to the
BIND Background Technology, and (b) AstraZeneca will own all right, title and interest in and to the AstraZeneca Background Technology. 
 9.2 Ownership and Inventorship. 
 (a) New BIND Core IP. As between
the Parties, BIND will solely own all right, title and interest in and to any Program IP that constitutes improvements, modifications or enhancements to (i) BIND Background Technology, or (ii) AccurinsTM (including compositions of matter,
methods of use and methods of manufacturing (but excluding Product Specific Patents (as defined below)), and all right, title and interest thereto will automatically vest solely in BIND (collectively referred to herein as “BIND Core
IP”). AstraZeneca, for itself and on behalf of its Affiliates and subcontractors, and employees, subcontractors, consultants and agents of any of the foregoing, hereby assigns (and to the extent such assignment can only be made in the
future hereby agrees to assign), to BIND all right, title and interest in and to such BIND Core IP (unless already owned by BIND). AstraZeneca will cooperate, and will cause the foregoing persons and entities to cooperate, with BIND to effectuate
and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents consistent with such ownership. 
 (b) New AstraZeneca Core IP. As between the Parties, AstraZeneca will solely own all right, title and interest in and to (i) any Program IP that constitutes improvements, modifications or
enhancements to AstraZeneca Background Technology; and (ii) patent applications and any patent resulting therefrom that claim solely the Product Candidate (including compositions of matter, methods of use and methods of manufacturing the
Product Candidate) and no other subject matter (“Product Specific Patent”), and all right, title and interest thereto will automatically vest solely in AstraZeneca (collectively referred to herein as “AstraZeneca Core
IP”). BIND, for itself and on behalf of its Affiliates and subcontractors, and employees, subcontractors, consultants and agents of any of the foregoing, hereby assigns (and to the extent such assignment can only be made in the future
hereby agrees to assign), to AstraZeneca all right, title and interest in and to such AstraZeneca Core IP (unless already owned by AstraZeneca). BIND will cooperate, and will cause the foregoing persons and entities to cooperate, with AstraZeneca to
effectuate and perfect the foregoing ownership, including by promptly executing and recording assignments and other documents consistent with such ownership. 

 

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 LICENSE AGREEMENT 

 

 (c) Program IP. 

(i) Except as otherwise provided in Sections 9.2(a) or 9.2(b), ownership of any Program IP created or conceived
solely by or on behalf of a Party will be solely owned by such Party (together with rights owned by such Party pursuant to Sections 9.2(a) or 9.2(b), rights described in this Section 9.2(c) are referred to herein as
“Sole Program IP” for each Party), and if created or conceived jointly by or on behalf of the Parties (either during the course of the Feasibility Study Agreement or under this Agreement) will be jointly owned by the Parties
(referred to herein as “Joint Program IP”). Accordingly, any BIND Core IP, Sole Program IP or Joint Program IP in which BIND has an ownership interest will be “BIND Program IP”, and any AstraZeneca Core IP, Sole
Program IP or Joint Program IP in which AstraZeneca has an ownership interest will be “AstraZeneca Program IP”. 
 (ii) Each Party will have an undivided one-half interest in and to Joint Program IP. Each Party may exercise its ownership rights in and to such Joint Program IP, including the right to license and
sublicense or otherwise to exploit, transfer or encumber its ownership interest, subject to the licenses hereunder and the other terms and conditions of this Agreement, without an accounting or obligation to, or consent in from, the other Party,
except as specially set forth in this Section 9.2(c). At the time of filing a patent application that covers any Joint Program IP, the Parties will discuss whether such independent exercising of ownership rights for that subject matter
might impact on each parties’ commercial interests. If one party is of the opinion that its commercial interests might be so impacted, then the Parties will file patent applications to cover two patent families, such that one patent family will
claim the commercially sensitive subject matter only (and will become Sole Program IP for that Party), and the other patent family will claim the Joint Program IP only. BIND agrees that it will need to obtain AstraZeneca’s prior written consent
to license or sublicense any AstraZeneca Program IP to any Third Party. AstraZeneca agrees that it will have the rights to grant licenses or sublicenses any BIND Program IP as set forth in Section 7.5 only. 

(iii) At the reasonable written request of a Party, the other Party will in writing grant such consents and confirm that no accounting
is required to effect the foregoing regarding Joint Program IP. Each Party, for itself and on behalf of its Affiliates, licensees and sublicensees, and employees, subcontractors, consultants and agents of any of the foregoing, hereby assigns (and to
the extent such assignment can only be made in the future hereby agrees to assign), to the other Party a joint and undivided interest in and to all Joint Program IP. 
 (iv) The Parties agree that in some instances, Joint Program IP could encompass both improvements to BIND Background Technology and improvements to AstraZeneca Background Technology or include Product
Specific claims. In this event, such Joint Program IP may be split with the full agreement and co-operation of the Parties (effected through the Joint Patent Team) into BIND Program IP and AstraZeneca Program IP, provided this can be achieved
without material disadvantage to either Party. 
 (v) Subject to the terms and conditions of this Agreement (including
Section 10 and Section 11): 
 (A) Each Party will be solely responsible for the Prosecution and
Maintenance, and the enforcement and defense, of any Patents within its Sole Program IP, and the other Party will have no rights with respect thereto; and 

  
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 LICENSE AGREEMENT 

 

 (B) The Prosecution and Maintenance, and the enforcement and defense, of any Patents
within Joint Program IP will be jointly managed by the Parties on mutually agreeable terms to be decided by the Joint Patent Team described in Section 3.2(g) above, and all recoveries and out-of-pocket costs and expenses arising from
those activities, absent further agreement, will be shared equally by the Parties (provided that sufficient advance written notice of any such costs or expenses is given to the Party not incurring same), provided that if either Party elects not to
pay any such costs or expenses for any such Patent, the Parties will meet and agree upon an equitable way to treat such Patent. 
 (d) Inventorship. Inventorship determination for all Patents worldwide arising from any Program IP and thus the ownership thereof (subject to Sections 9.2(a) and (b) above) will
be made in accordance with applicable United States patent laws. 
 9.3 Disclosure of Program IP. During the Term, BIND
will promptly (and at least on a calendar quarterly basis) disclose to AstraZeneca any Program IP created or conceived by or on behalf of BIND, and will provide such documentation regarding same as AstraZeneca may reasonably request, to the extent
licensed to AstraZeneca under Section 7.1. During the Term, AstraZeneca will promptly (and at least on a calendar quarterly basis) disclose to BIND any Program IP created or conceived by or on behalf of AstraZeneca, and will provide such
documentation regarding same as BIND may reasonably request. Disclosure of Program IP by each party to the other will be effected by the Joint Patent Team. The Parties hereby agree that neither Party shall file patent applications claiming or
encompassing any Program IP without first consulting the other party in sufficient time for a reasonable review and discussion of any issues raised by such proposed filing, and in any event at least fourteen (14) days in advance of any such
proposed filing date. 
 9.4 Joint Research Agreement. This Agreement will be understood to be a joint research agreement
in accordance with 35 USC § 103(c)(3) to Develop and Commercialize the Products in the Field and Territory, provided that neither Party will be required by this reference to have any Patent take advantage of or become subject to such
§ 103(c)(3) except in accordance with the provisions of this Agreement regarding Prosecution of such Patent. 
 Section 10.
Patent Prosecution and Maintenance 
 10.1 BIND Prosecution and Maintenance. 

(a) Except as set forth in Section 10.1(b), BIND will have the sole right to Prosecute and Maintain the BIND Background
Patents and AstraZeneca will have no rights with respect to such activities. 
 (b) BIND will have the sole right to Prosecute
and Maintain the BIND Background Patents described in Exhibit 10.1(b), and AstraZeneca will have no rights with respect to such activities, except: 
 (i) BIND shall inform AstraZeneca of the territories in which BIND intends to file these Background Patents; 

  
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 LICENSE AGREEMENT 

 

 (ii) if AstraZeneca would like the applications to be filed in territories other than
[***], BIND agrees to pursue such further territorial applications, provided that BIND will pay [***] of the costs and expenses to Prosecute and Maintain such applications in such additional territories, up to a total aggregate payment by BIND of
[***] per patent family, and any remaining costs and expenses shall be at AstraZeneca’s expense; 
 (iii) BIND will keep
AstraZeneca informed of the status of these BIND Background Patents, provide copies of all material submissions and correspondence with any Patent authorities regarding the foregoing, in sufficient time to allow for review and comment by
AstraZeneca, provided that AstraZeneca will reimburse BIND for (1) [***] and expenses associated to Prosecute and Maintain such patent applications in [***] and (2) [***] of the costs and expenses associated to Prosecute and Maintain any
divisionals, continuations or continuations-in-part relating to such patent applications or patents in [***]. 
 (c) Other than
with respect to BIND Program IP that constitutes Joint Program IP, BIND will have the first right, at its sole expense, to Prosecute and Maintain BIND Program IP. BIND will regularly provide AstraZeneca with copies of all Patent applications within
the BIND Program IP, and all other material submissions and correspondence with any Patent authorities regarding the foregoing, in sufficient time to allow for review and comment by AstraZeneca. In addition, BIND will provide AstraZeneca and its
counsel with an opportunity to consult with BIND and its counsel regarding Prosecution and Maintenance of any of the foregoing and BIND will use reasonable efforts to address concerns raised by AstraZeneca with respect to the Prosecution and
Maintenance of Patents that include Compound Claims. Subject to the foregoing, in the event of any disagreement between BIND and AstraZeneca, BIND will have the final decision-making authority with respect to the matter involved as long as BIND acts
in good faith. 
 10.2 Product Specific Patents. Product Specific Patents will be filed by AstraZeneca at
AstraZeneca’s sole discretion, but with the full co-operation and co-ordination of BIND. 
 10.3 AstraZeneca Prosecution
and Maintenance. 
 (a) AstraZeneca will have the sole right to Prosecute and Maintain the AstraZeneca Background Patents,
and BIND will have no rights with respect thereto. 
 (b) Other than with respect to AstraZeneca Program IP that constitutes
Joint Program IP, AstraZeneca will have the first right, at its sole expense, to Prosecute and Maintain AstraZeneca Program IP and Product Specific Patents. AstraZeneca will regularly provide BIND with copies of all Patent applications within the
Product Specific Patents, and all other material submissions and correspondence with any Patent authorities regarding the foregoing, in sufficient time to allow for review and comment by BIND. AstraZeneca will use reasonable efforts to address any
concerns raised by BIND. Subject to the foregoing, in the event of any disagreement between BIND and AstraZeneca, AstraZeneca will have the final decision-making authority with respect to the matter involved as long as AstraZeneca acts in good
faith. 
  

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 10.4 Cooperation. Each Party will reasonably cooperate with the other Party in
the Prosecution and Maintenance of the Patents for which it is responsible. Such cooperation will include promptly executing all documents, or requiring inventors, employees and consultants and agents of such Party and its Affiliates and
Sublicensees to execute all documents, as reasonable and appropriate so as to enable the Prosecution and Maintenance of any such Patents in any country. 
 10.5 Patent Extensions. If any election for patent term restoration or extension, supplemental protection certificate or any of their equivalents may be made with respect to any BIND Program IP or
any BIND Background Patents based on any Product, after consultation with AstraZeneca, BIND will have the sole right to decide whether or not to take such action. AstraZeneca will not seek to restore or extend any Patents within the BIND Program IP
or any BIND Background Patents. BIND will not seek to restore or extend any Patents based on AstraZeneca’s Regulatory Approvals for the Product or Product Candidate without AstraZeneca’s prior written approval. For the avoidance of doubt,
AstraZeneca shall have sole right to extend Product Specific Patents without consultation with BIND. 
 10.6 Orange Book
Patent Listings. With respect to any Patent listings required for Products anywhere in the Territory, the Parties will agree on which (if any) BIND Program IP or any BIND Background Patents to list, only if necessary to comply with the relevant
applicable laws. AstraZeneca will not seek to list any Patents within the BIND Program IP or any BIND Background Patents, without the prior written consent of BIND. 
 Section 11. Patent Enforcement and Defense. 
 11.1 Notice. Each
Party will notify the other Party in writing of any actual or suspected Competitive Infringement with respect to any patent claim within the Program IP of either party (including Product Specific Patents) that claims solely the Product Candidate
(including compositions of matter, methods of use and methods of manufacturing the Product Candidate) and no other subject matter (a “Compound Claim”) by a Third Party, or of any claim of invalidity, unenforceability, or
non-infringement of any Compound Claims, and will, along with such notice, supply the other Party with any evidence in its Control pertaining thereto. For purposes of this Agreement, “Competitive Infringement” means any allegedly
infringing activity with respect to a Compound Claim that falls within the scope of the exclusive license granted by BIND to AstraZeneca as set forth in Section 7.1, or allegedly infringing activity with respect to a Product Specific
Patent owned by AZ. 
 11.2 Enforcement and Defense. 

(a) Competitive Infringement. As between the Parties, AstraZeneca will have the first right, but not the obligation, to seek to
abate any actual or suspected Competitive Infringement of any Compound Claims by a Third Party, or to file suit against any such Third Party for such Competitive Infringement. If AstraZeneca does not take steps to abate any such Competitive
Infringement, or file suit to enforce the Compound Claims against such Third Party with respect to such Competitive Infringement, within a commercially reasonably time, BIND will have the right (but not the obligation) to take action to enforce the
Compound Claims against such Third Party for such Competitive Infringement. The controlling Party will pay all its Patent Costs incurred for such enforcement. Neither Party will exercise any of its enforcement rights under this
Section 11.2(a) without first consulting with the other Party, provided that this consultation requirement will not limit each Party’s rights under this Section 11.2(a). 

  
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 (b) Defense. As between the Parties, AstraZeneca will have the first right, but
not the obligation, to defend against a declaratory judgment action or other action challenging any Product Specific Patents, other than with respect to any counter-claims in any enforcement action, or any action by a Third Party in response to an
enforcement action brought by BIND pursuant to Section 11.2(a), which defense will be controlled by BIND. If AstraZeneca does not take steps to defend within a commercially reasonably time, BIND will have the right (but not the
obligation) to so defend. The controlling Party will pay all its Patent Costs incurred for such defense. 
 (c) Withdrawal,
Cooperation and Participation. With respect to any infringement or defensive action identified above in this Section 11.2: 
 (i) If the controlling Party ceases to pursue or withdraws from such action, it will notify the other Party and such other Party may substitute itself for the withdrawing Party and proceed under the terms
and conditions of this Section 11.2. 
 (ii) The non-controlling Party will cooperate with the Party controlling
any such action (as may be reasonably requested by the controlling Party), including (a) providing access to relevant documents and other evidence, (b) making its and its Affiliates and licensees (including Sublicensees) and all of their
respective employees, consultants and agents available at reasonable business hours and for reasonable periods of time, but only to the extent relevant to such action, and (c) if necessary, by being joined as a party, subject for this
clause (c) to the controlling Party agreeing to indemnify such non-controlling Party for its involvement as a named party in such action and paying those Patent Costs incurred by such Party in connection with such joinder. The Party controlling
any such action will keep the other Party updated with respect to any such action, including providing copies of all documents received or filed in connection with any such action. 

(iii) Each Party will have the right to participate or otherwise be involved in any such action controlled by the other Party, in each
case at the participating Party’s sole cost and expense. If a Party elects to so participate or be involved, the controlling Party will provide the participating Party and its counsel with an opportunity to consult with the controlling Party
and its counsel regarding the prosecution of such action (including reviewing the contents of any correspondence, legal papers or other documents related thereto), and the controlling Party will take into account reasonable requests of the
participating Party. 
 (d) Settlement. AstraZeneca shall not enter into any settlement of any claim described in this
Section 11.2 that admits to the invalidity, narrowing of scope or unenforceability of the Patents that are the subject of the license grants under Sections 7.1 and 7.2 of this Agreement, incurs any financial liability on
the part of BIND or requires an admission of liability, wrongdoing or fault on the part of BIND without BIND’s prior written consent. BIND shall not enter into any settlement of any claim described in this Section 11.2 that admits
to the invalidity, narrowing of scope or unenforceability of the Patents that are the subject of the license grants under Sections 7.1 and 7.2 of this Agreement in a manner or to an extent that limits the scope of rights granted to
AstraZeneca under Section 7.1 or Section 7.2, incurs any financial liability on the part of AstraZeneca or requires an admission of liability, wrongdoing or fault on the part of AstraZeneca without AstraZeneca’s prior
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joined the legal action, it shall consent to such settlement proposed by the other Party and execute any documents or take such actions necessary to effect a settlement that comports with the
requirements of this Section 11.2(d). 
 (e) Damages. Unless otherwise agreed by the Parties, all monies
recovered upon the final judgment or settlement of any action described in Section 11.2(a), or any action described in Section 11.2(b), will be used: (i) first, to reimburse each of the Parties on a pro rata basis
for each of their external costs and expenses relating to the action; and (ii) second, [***] to the controlling Party and [***] to the other Party. 
 11.3 Other Patents. Other than as provided under Section 9.2(b) and Sections 11.2(a) and 11.2(b), BIND will have the sole right to enforce and defend (i) the Patents
within the BIND Program IP and (ii) the BIND Background Patents, and AstraZeneca will have no rights with respect thereto. AstraZeneca will have the sole right to enforce and defend (i) the Patents within the AstraZeneca Program IP other
than the AstraZeneca Program IP that constitutes Joint Program IP and (ii) the AstraZeneca Background Patents, and BIND will have no rights with respect thereto. 
 Section 12. Confidential Information and Publicity. 
 12.1
Confidentiality. 
 (a) Confidential Information. Except as expressly provided herein, each of the Parties agrees
that, for itself and its Affiliates, and for as long as this Agreement is in effect and for a period of [***] thereafter (or in perpetuity for any Confidential Information that qualifies as a trade secret), a Party and its Affiliates
(the “Receiving Party”) receiving Confidential Information of the other Party or its Affiliates (the “Disclosing Party”) will (i) not disclose such Confidential Information to any Third Party without
the prior written consent of the Disclosing Party, except for disclosures expressly permitted below, and (ii) not use such Confidential Information for any purpose except those licensed or otherwise authorized or permitted by this Agreement.
For purposes of this Agreement, “Confidential Information” means (A) all Materials and (B) all ideas and information of any kind, whether in written, oral, graphical, machine-readable or other form, whether or not marked
as confidential or proprietary, which are transferred, disclosed or made available by Disclosing Party or at the request of Receiving Party, including any of the foregoing of Third Parties. Without limiting the foregoing, BIND Background Technology
and BIND Program IP, will be considered Confidential Information of BIND, and AstraZeneca Background Technology and AstraZeneca Program IP will be considered Confidential Information of AstraZeneca. 

(b) Exceptions. The obligations in Section 12.1(a) will not apply with respect to any portion of the Confidential
Information that the Receiving Party can show by competent proof: 
 (i) is publicly disclosed by the Disclosing Party, either
before or after it is disclosed to the Receiving Party hereunder; 
  

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 (ii) was known to the Receiving Party or its Affiliates, without any obligation to keep
it confidential or any restriction on its use, prior to disclosure by the Disclosing Party; 
 (iii) is subsequently disclosed
to the Receiving Party or its Affiliates by a Third Party lawfully in possession thereof and without any obligation to keep it confidential or any restriction on its use; 
 (iv) is published by a Third Party or otherwise becomes publicly available or enters the public domain, either before or after it is disclosed to the Receiving Party; or 

(v) has been independently developed by employees or contractors of the Receiving Party or its Affiliates without the aid, application
or use of Confidential Information of the Disclosing Party. 
 (c) Authorized Disclosures. The Receiving Party may
disclose Confidential Information belonging to the Disclosing Party to the extent (and only to the extent) such disclosure is reasonably necessary in the following instances: 
 (i) subject to Section 12.2, by either Party in order to comply with applicable non-patent law (including any securities law or regulation or the rules of a securities exchange) and with
judicial process, if in the reasonable opinion of the Receiving Party’s counsel, such disclosure is necessary for such compliance; 
 (ii) by either Party, in connection with prosecuting or defending litigation, making regulatory filings, and filing, prosecuting, maintain, defending and enforcing Patents; 

(iii) by AstraZeneca, to its Affiliates, potential or actual permitted Sublicensees, permitted acquirers or assignees under
Section 15.1, permitted subcontractors, and each of AstraZeneca and its Affiliates’ respective directors, employees, contractors and agents; and 
 (iv) by BIND, to its Affiliates, potential or actual permitted acquirers or assignees under Section 15.1, collaborators and other licensees, permitted subcontractors, investment bankers,
investors, lenders, and each of BIND and its Affiliates’ respective directors, employees, contractors and agents, 
 provided that
(1) with respect to Section 12.1(c)(i) or 12.1(c)(ii), where reasonably possible, the Receiving Party will notify the Disclosing Party of the Receiving Party’s intent to make any disclosure pursuant thereto sufficiently
prior to making such disclosure so as to allow the Disclosing Party adequate time to take whatever action it may deem appropriate to protect the confidentiality of the information to be disclosed, and (2) with respect to
Sections 12.1(c)(iii) and 12.1(c)(iv), each of those named people and entities must be bound prior to disclosure by confidentiality and non-use restrictions at least as restrictive as those contained in this Section
12 (other than investment bankers, investors and lenders, who must be bound prior to disclosure by commercially reasonable obligations of confidentiality). 
 12.2 Terms of this Agreement; Publicity. 
 (a) The Parties agree that the
terms of this Agreement will be treated as Confidential Information of both Parties, and thus may be disclosed only as permitted by Section 12.1(c). Each Party agrees not to issue any press release or public statement disclosing
information relating to this Agreement or the transactions contemplated hereby or the terms 

  
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hereof without the prior written consent of the other Party (or as such consent may be obtained in accordance with Section 12.2(a)), which consent will not be unreasonably withheld or
delayed, or as permitted by Section 12.1(c). 
 (b) In the event either Party (the “Issuing
Party”) desires to issue a press release or other public statement disclosing information relating to this Agreement or the transactions contemplated hereby or the terms hereof, the Issuing Party will provide the other
Party (the “Reviewing Party”) with a copy of the proposed press release or public statement (the “Release”). The Reviewing Party will have [***] to provide any comments on such Release. If the
Receiving Party provides any comments, the Parties will consult on such Release and work in good faith to prepare a mutually acceptable Release provided that such Release will not contain any Confidential Information owned by the Receiving Party
without the written consent of the Receiving Party. Either Party may subsequently publicly disclose any information previously contained in any Release so consented to. 
 (c) The Parties agree to issue the joint press release set forth on Exhibit 12.2(c) promptly following the Effective Date. 

(d) For avoidance of doubt, once information relating to the terms of this Agreement has been disclosed in accordance with this
Section 12.2, such information may thereafter be disclosed by either Party without the necessity of notice to, or the consent of, the other Party. 
 12.3 [***] and identify whether in AstraZeneca’s reasonable opinion it contains any AstraZeneca Confidential Information or any data may identify the Product Candidate or any data may adversely
impact any patenting activity. If the Parties agree, such AstraZeneca Confidential information or the data capable of identifying the Product Candidate shall be removed. Once any such data is approved by AstraZeneca there shall be no further need to
seek any subsequent approval to disclose such data. 
 12.4 Publication. Notwithstanding anything herein to the contrary,
either Party may propose publication of the results in summary form only of the Product Development and Manufacturing Program under this Agreement upon three (3) months’ notice prior to submission. Both Parties understand that a reasonable
commercial and scientific strategy may require a delay of publication of information or filing of Patent applications, therefore the Parties agree to review and consider a delay of publication and filing of patent applications under certain
circumstances. For clarification, without the agreement on the publication or the period of delay, no publication can be made. Once any publication has been reviewed by each Party and has been approved for publication, then, provided a copy of any
later publication is produced for review to assess the effect and context of such publication, then an expedited review process will be undertaken. Expedited reviews for abstracts or poster presentations may be arranged if mutually agreeable to the
Parties. In all cases each Party also will have the right to require that its Confidential Information that would be disclosed in any such proposed publication be deleted prior to such publication. Each Party will acknowledge the other Party’s
contributions in any such publication unless otherwise instructed. 
  

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 12.5 Relationship to the Confidentiality Agreement. This
Agreement supersedes the Confidentiality Agreement entered into by and between the Parties dated 26th September 2012 (the “Confidentiality Agreement”), provided that all “Confidential Information” disclosed or received by the Parties thereunder will be
deemed “Confidential Information” hereunder and will be subject to the terms and conditions of this Agreement. 

Section 13. Warranties; Limitations of Liability; Indemnification 
 13.1 BIND Representations and Warranties. BIND represents and warrants to AstraZeneca that as of the Effective Date: 
 (a) BIND is a corporation duly organized, validly existing and in good standing under the laws of state or jurisdiction in which it is incorporated, and it has full right and authority to enter into this
Agreement and to grant the licenses and other rights to AstraZeneca as herein described. 
 (b) This Agreement has been duly
authorized by all requisite corporate action, and when executed and delivered will become a valid and binding contract of BIND enforceable against BIND in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization and
other law affecting creditors’ rights generally from time to time if effect, and to general principles of equity. 
 (c)
The execution, delivery and performance of this Agreement does not conflict with any other agreement, contract, instrument or understanding, oral or written, to which BIND is a party, or by which it is bound, nor will it violate any law applicable
to BIND. 
 (d) All necessary consents and approvals of all regulatory and governmental authorities and other persons or
entities required to be obtained by BIND in connection with the execution and delivery of this Agreement and the performance of its obligations hereunder have been obtained. 
 (e) All employees of BIND performing Development activities hereunder on behalf of BIND will be obligated to assign all right, title and interest in and to any inventions developed by them, whether or not
patentable, to BIND or such Affiliate, respectively, as the sole owner thereof. 
 (f) BIND will, as appropriate, hire
and maintain sufficient staff and management to meet its Commercially Reasonable Efforts in order to support and conduct all the Collaboration Programs hereunder in a timely fashion. 

(g) It will not during the Agreement Term grant any right or license to any Third Party that would conflict or interfere with any
of the rights or licenses granted to AstraZeneca hereunder. 
 (h) As of the Effective Date, to the best of BIND’s
knowledge, there is no actual infringement or threatened infringement of any BIND Background Technology. In the event that BIND has knowledge, at any time during the Agreement Term, of any pending or threatened (in writing) claim or lawsuit or legal
proceeding of a Third Party against BIND alleging that any BIND Patent claiming a Product Candidate or Product is invalid or unenforceable, or that BIND or AstraZeneca’s practice of a Patent(s) licensed by BIND to AstraZeneca under this
Agreement infringes or misappropriates in part or in whole the intellectual property or intellectual property rights of such Third Party, BIND will promptly inform AstraZeneca in writing of the same. 

  
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 (i) Bind is not aware of any prior art or failure to disclose prior art that would
reasonably be anticipated to result in any of the BIND Background Patents being held invalid or unenforceable. 
 (j) BIND is
not aware of any information within BIND’s possession or Control that, to BIND’s Knowledge, would reasonably be expected to adversely affect, in any material respect, the acceptance, or the subsequent approval, of any Product or Product
Candidate utilizing BIND’s proprietary nanoengineering technology. 
 (k) BIND has made available to AstraZeneca all
material Know-How and other material information in its possession or Control related to its Background Technology which is reasonably necessary to develop a Product Candidate or Product. 

(l) BIND is not restricted from signing this agreement or granting the licenses herein by virtue of any funding from any governmental
body. 
 13.2 AstraZeneca Representations and Warranties. AstraZeneca represents and warrants to BIND that as of the
Effective Date: 
 (a) AstraZeneca is a corporation duly organized, validly existing and in good standing under the laws of the
jurisdiction in which it is organized, and it has full right and authority to enter into this Agreement and to accept the rights and licenses granted as herein described. 
 (b) This Agreement has been duly authorized by all requisite corporate action, and when executed and delivered will become a valid and binding contract of AstraZeneca enforceable against AstraZeneca in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization and other laws affecting creditors’ rights generally from time to time if effect, and to general principles of equity. 

(c) The execution, delivery and performance of this Agreement do not conflict with any other agreement, contract, and instrument or
understanding, oral or written, to which AstraZeneca is a party, or by which it is bound, nor will it violate any law applicable to AstraZeneca. 
 (d) All necessary consents and approvals of all regulatory and governmental authorities and other persons or entities required to be obtained by AstraZeneca in connection with the execution and delivery
of this Agreement and the performance of its obligations hereunder have been obtained. 
 13.3 Mutual Representations.
Each Party agrees, on behalf of itself, its officers, directors and employees and on behalf of its Affiliates, agents, representatives, consultants and subcontractors hired in connection with the subject matter of his Agreement (together with the
Party, the “Party Representatives”) that in connection with any activities carried out under this Agreement: 

(a) Each Party’s respective Party Representatives shall not directly or indirectly pay, offer or promise to pay, or authorize the
payment of any money, or give, offer or promise to give, or authorize the giving of anything else of value, to: 
 (i) any
Government Official in order to influence official action; 

  
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 (ii) any Person (whether or not a Government Official): (A) to influence such
Person to act in breach of a duty of good faith, impartiality or trust (“acting improperly”), (B) to reward such Person for acting improperly, or (C) where such Person would be acting improperly by receiving the money or other
thing of value; and (D) any other Person while knowing or having reason to know that all or any portion of the money or other thing of will be paid offered, promised or given to, or will otherwise benefit, a Government Official in order to
influence official action for or against either Party in connection with the matters that are the subject of this Agreement. 

(b) Each Party’s Party Representatives shall not, directly or indirectly, solicit, receive or agree to accept any payment of money
or anything else of value in violation of the Anti-Corruption Laws. 
 (c) Each Party, on behalf of itself and its other Party
Representatives, represents and warrants to the other Party that for the term of this Agreement and for three (3) years thereafter each Party shall maintain accurate books and reasonably detailed records required to establish compliance with
this Section 13.3. 
 13.4 Disclaimer. EXCEPT AS EXPRESSLY SET FORTH HEREIN, NEITHER BIND NOR ASTRAZENECA
MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF VALIDITY OR ENFORCEABILITY OF ANY PATENT RIGHTS, TITLE, QUALITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, PERFORMANCE, AND NONINFRINGEMENT OF ANY
THIRD PARTY PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS. 
 13.5 Limitation of Liability. NOTWITHSTANDING ANYTHING IN
THIS AGREEMENT OR OTHERWISE, NEITHER PARTY WILL BE LIABLE TO THE OTHER OR ANY THIRD PARTY WITH RESPECT TO ANY SUBJECT MATTER OF THIS AGREEMENT FOR ANY INDIRECT, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES, EVEN IF SUCH PARTY HAS BEEN INFORMED OR
SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED, HOWEVER, THAT THIS SECTION 13.5 WILL NOT APPLY TO THE PARTIES’ INDEMNIFICATION RIGHTS AND OBLIGATIONS UNDER SECTIONS 13.7(a) AND 13.7(b). 

13.6 Performance by Others. The Parties recognize that each Party may perform some or all of its obligations or exercise some or
all of its rights under this Agreement through Affiliates and permitted subcontractors; provided, however, that each Party will remain responsible and liable for the performance by its Affiliates and permitted subcontractors and will
cause its Affiliates and permitted subcontractors to comply with the provisions of this Agreement in connection therewith. 

13.7 Indemnification. 
 (a) AstraZeneca Indemnity. AstraZeneca hereby agrees to indemnify, defend and hold harmless BIND and its Affiliates and their respective officers, employees, directors, agents and contractors, and
their respective successors, heirs and assigns and representatives (“BIND Indemnitees”) from and against any liability, damage, loss, cost or expense (including reasonable attorney’s fees, costs and expenses)
(collectively, “Losses”) incurred by or imposed upon any of the BIND Indemnitees in connection with any Third Party claims, suits, actions, demands or 

  
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judgments concerning (i) the research, Clinical Development or Commercialization of any Product Candidates or Products by AstraZeneca or any of its Affiliates or Sublicensees, or the
exercise of any license or right granted to AstraZeneca under this Agreement (including any such Third Party claims relating to any alleged infringement or misappropriation of Patents or other intellectual property rights based on any of the
foregoing), provided that nothing in this clause (i) will prevent AstraZeneca from exercising its rights under Section 8.4); (ii) the material breach by AstraZeneca of any term of this Agreement or any violation by AstraZeneca
or any of its Affiliates or Sublicensees of applicable law; (iii) any such Third Party claims relating to any alleged infringement or misappropriation of Patents or other intellectual property rights as part of the Product Development and
Manufacturing Program based on the use of a Product Candidate or Patents, Know-How or Confidential Information; or (iv) any gross negligence or willful misconduct on the part of AstraZeneca in performing its obligations under this Agreement,
except to the extent that such Losses arise from (a) the negligence, recklessness or willful misconduct of any BIND Indemnitee (b) any material breach of this Agreement by BIND or (c) any claim for which BIND has an obligation to
indemnify any AstraZeneca Indemnitees. 
 (b) BIND Indemnity. BIND hereby agrees to indemnify and hold AstraZeneca, its
Affiliates and Sublicensees, and their respective officers, employees, directors, agents and contractors, and their respective successors, heirs and assigns and representatives (“AstraZeneca Indemnitees”) harmless from and against
all Losses arising from any Third Party claim due to (i) the material breach by BIND of any representations, warranties, or covenants or other term of this Agreement or any violation by BIND or any of its Affiliates of applicable law; or
(ii) any gross negligence or willful misconduct on the part of BIND in performing its obligations under this Agreement, except to the extent that such Losses arise from (a) the negligence, recklessness or willful misconduct of any
AstraZeneca Indemnitees (b) any material breach of this Agreement by AstraZeneca or (c) any claim for which AstraZeneca has an obligation to indemnify any BIND Indemnitees. 

(c) Indemnification Procedure. A claim to which indemnification applies under Section 13.7(a) or
Section 13.7(b) will be referred to herein as a “Claim”. If any person or entity (each, an “Indemnitee”) intends to claim indemnification under this Section 13.7, the Indemnitee
will notify the other Party (the “Indemnitor”) in writing promptly upon becoming aware of any claim that may be a Claim (it being understood and agreed, however, that the failure by an Indemnitee to give such notice will not relieve
the Indemnitor of its indemnification obligation under this Agreement except and only to the extent that the Indemnitor is actually prejudiced as a result of such failure to give notice). The Indemnitor will have the right to assume and control the
defense of such Claim at its own cost and expense with counsel selected by the Indemnitor and reasonably acceptable to the Indemnitee; provided, however, that an Indemnitee will have the right to retain its own counsel, with the fees,
costs and expenses to be paid by the Indemnitee, if representation of such Indemnitee by the counsel retained by the Indemnitor would be inappropriate due to actual or potential differing interests between such Indemnitee and any other party
represented by such counsel in such proceedings. If the Indemnitor does not assume the defense of such Claim as aforesaid, the Indemnitee may defend such Claim but will have no obligation to do so. The Indemnitee will not settle or compromise any
Claim without the prior written consent of the Indemnitor, and the Indemnitor will not settle or compromise any Claim in any manner which would have an adverse effect on the Indemnitee’s interests, without the prior written consent of the
Indemnitee, which consent, in each case, will not be unreasonably withheld. The Indemnitee will reasonably cooperate with the Indemnitor at the Indemnitor’s sole cost and expense and will make available to the Indemnitor all pertinent
information under the Indemnitee’s control, which information will be subject to Section 12.1. 

  
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 (d) Supply Agreement. The rights and obligations set forth in this
Article 13 shall be in addition to, and without prejudice to, indemnification, limitations of liability, insurance, representations and warranties and other rights and obligations of the Parties provided for under the Supply Agreement.

 13.8 Insurance. AZ hereby represents and warrants to BIND that it is self-insured against liability and other risks
associated with its activities and obligations under this Agreement in such amounts and on such terms as are customary for prudent practices for large companies in the pharmaceutical industry for the activities to be conducted by AstraZeneca under
this Agreement. AstraZeneca will provide to BIND evidence of such self-insurance upon request. AstraZeneca will continue to maintain such insurance or self-insurance after the expiration or termination of this Agreement during any period in
which AstraZeneca or any Affiliate or Sublicensee continues to make, use, or sell a product that was a Product under this Agreement, and thereafter for a period of five (5) years. 
 Section 14. Term, Termination and Survival. 
 14.1 Term. This
Agreement will commence as of the Effective Date and, unless sooner terminated in accordance with the terms hereof or by mutual written consent, will continue on a country-by-country and Product-by-Product basis until the end of the period during
which royalties are due hereunder on Net Sales of such Product in such country (the longest such period of time for any Products hereunder, the “Term”). 
 14.2 Termination Rights. 
 (a) Material Breach. Subject to
Section 14.2(b), either Party will have the right to terminate this Agreement if it has reason to believe that the other Party is in material breach of this Agreement (including with respect to a failure to use Commercially Reasonable
Efforts). The Party alleging a material breach shall deliver to the other Party a written notice identifying in reasonable detail such material breach with a request for such breach to be cured [***] or if such breach relates solely to a failure to
make a payment when due, within [***]. If the Breaching Party fails to cure such breach within the [***] period (or where such breach cannot be cured within such [***] the Breaching Party fails to take all reasonable actions to cure such breach
within such period and thereafter fails to diligently continue to take such actions) or makes payment within the [***] (unless such payment is in dispute), as applicable, the Non-Breaching Party may terminate this Agreement either (a) with
respect to the country or countries to which such material default applies or (b) provided that if such default relates to any two Major Market Countries then it may terminate this entire Agreement. 

(b) Disputes Regarding Material Breach. Notwithstanding the foregoing, if the Party alleged to be in breach under
Section 14.2(a) disputes in good faith the existence, materiality or failure to cure any such breach, and provides notice to the non-breaching Party of such dispute within such [***] period or [***] period as applicable, then the
non-breaching Party will not have the right to terminate in accordance with Section 14.2(a) unless and until it has been determined in accordance with Section 15.7 that a material breach has occurred and (b)

 

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 LICENSE AGREEMENT 

 
 
the breaching Party has failed to cure such breach within such [***] period (or has failed to apply good faith efforts to cure such defect) or such [***] period, if such breach relates solely to
a failure to make a payment when due. It is agreed that during the pendency of any such dispute, all the terms and conditions of this Agreement will remain in effect and the Parties will continue to perform all of their respective obligations.

 (c) Termination for Convenience by AstraZeneca. AstraZeneca may terminate this Agreement in its entirety or
with respect to one or more countries in the Territory at any time, effective upon (i) [***] prior written notice to BIND, if notice is given prior to the establishment of a commercial/Phase III Clinical Trial manufacturing capability in
accordance with Section 5.2, and (ii) [***] prior written notice to BIND thereafter. 
 (d) Termination
Due to a Serious Safety Issue. In the event AstraZeneca notifies BIND in writing of AstraZeneca’s decision to terminate Development or Commercialization of a Product Candidate or Product as a result of a serious safety issue regarding
the use of such Product Candidate or Product, then the Parties will promptly agree upon a wind-down and termination of all Development and Commercialization activities with respect to the applicable Product Candidate or Product and all the costs of
such wind-down and termination will, as the case may be, be borne as otherwise set forth in this Agreement depending on the activity involved. 
 (e) Termination for IP Challenge. BIND will have the right to terminate this Agreement in full upon written notice to AstraZeneca in the event that AstraZeneca or any of its Affiliates or
Sublicensees directly or indirectly challenges in a legal or administrative proceeding the patentability, enforceability or validity of any BIND Background Patents or Patents within BIND Core IP which are licensed to AstraZeneca hereunder; provided
that BIND will not have the right to terminate this Agreement under this Section 14.2(e) for any such challenge by any Sublicensee if (i) such challenge is dismissed within thirty (30) days of BIND’s notice to AstraZeneca
under this Section 14.2(e), (ii) such challenge is not reinstituted or continued, (iii) the Sublicense with such Sublicensee is terminated and (iv) AstraZeneca promptly reimburses BIND for all reasonable costs and expenses
incurred by BIND in connection with such challenge. 
 (f) Termination for Insolvency. To the extent permitted by
law, upon the filing or institution of bankruptcy, liquidation or receivership proceedings, or upon an assignment of a substantially all of its assets for the benefit of creditors (a “Bankruptcy Event”) by either Party, BIND,
in the case of a Bankruptcy Event by AstraZeneca, or AstraZeneca, in the case of a Bankruptcy Event by BIND, may terminate this Agreement; provided, however, that, in the case of any involuntary bankruptcy proceeding, such right to terminate will
only become effective if the subject Party consents to the involuntary bankruptcy or such proceeding is not dismissed within ninety (90) days after the filing thereof. Each Party will retain and may fully exercise all of its rights and
elections under the U.S. Bankruptcy Code and foreign equivalents, including that upon commencement of a bankruptcy proceeding by or against such Party undergoing a bankruptcy proceeding (the “Affected Party”) under the
U.S. Bankruptcy Code or foreign equivalents, the non-Affected Party will be entitled to complete duplicates of or complete access to, as such non-Affected Party deems appropriate, any Know-How and Patent and other 

 
  

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 LICENSE AGREEMENT 

 

 
intellectual property rights and all embodiments hereof licensed or to be transferred to such non-Affected Party hereunder by the Affected Party. Such Know-How, rights and embodiments will be
promptly delivered to the non-Affected Party (i) upon any such commencement of a bankruptcy proceeding and upon written request thereof by the non-Affected Party, unless the Affected Party elects to continue to perform all of its obligations
under this Agreement, or (ii) if not delivered under the foregoing clause (i), upon the rejection of this Agreement by or on behalf of the Affected Party upon written request therefore by the non-Affected Party. In addition, if
AstraZeneca is the Affected Party, AstraZeneca will have all rights to Manufacture Product Candidates and Products after the Bankruptcy Event. This Section 14.2(f) is without prejudice to any rights the non-Affected Party may have
arising under the US Bankruptcy Code, foreign equivalents or other law. 
 (g) Change of Control. In the event of
any Change of Control of BIND occurring during the Product Development and Manufacturing Term, BIND shall notify AstraZeneca promptly but in no event later than two (2) business days following execution of any agreement which gives effect to
such Change of Control and AstraZeneca shall have the right within [***] to (i) meet with the acquiring Party to discuss its intentions with regard to performing its obligations under this Agreement and to seek assurances that the consequences
of such Change of Control will not adversely affect the resources and commitment to performing the Product Development and Manufacturing Plan (ii) if reasonable assurances are not received promptly following such meeting then AstraZeneca may
terminate the Agreement upon notice in accordance with Section 14.3(b). 
 14.3 Effects of Termination. 

(a) Upon termination of this Agreement by BIND. With respect to only those countries within the Territory which are the subject of
termination or the Territory as a whole, as applicable, all licenses and other rights granted to AstraZeneca under this Agreement will terminate. AstraZeneca and its Affiliates and Sublicensees will cease all use of BIND Background Technology and
BIND Program IP, and all research, Clinical Development and Commercialization of any Product Candidates or Products. Following termination of the Agreement as a whole by BIND for AstraZeneca’s material breach of the Agreement (and unless no
other remedy is offered or awarded following arbitration) then in the event that BIND determines that it wishes to continue the Development or Commercialization of any Product Candidate or Product at its own cost, AstraZeneca agrees to consider in
good faith the terms and conditions proposed by BIND (including the payment of milestone and royalties to AstraZeneca) that are reasonable and customary in the pharmaceutical industry for such a licensing opportunity pursuant to which AstraZeneca
would transfer all Development and Commercialization activities with respect to such Product Candidate or Product to BIND (including transferring to BIND all Regulatory Filings with respect to such Products) and granting to BIND a license to all
Patents and Know-How Controlled by AstraZeneca that are reasonably necessary for the Development or Commercialization of such Products in each case taking into account the respective fault (if any) and damages (if any) incurred by the Parties in
connection with the events leading to the termination of this Agreement. 
  

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 (b) Without limiting any other legal or equitable remedies that AstraZeneca may have,
if AstraZeneca has the right to terminate this Agreement under Section 14.2 (a), (b), (g), (h) then, AstraZeneca may elect either to (a) terminate this Agreement pursuant to Section 14.2 as
applicable and seek damages for such breach in which case all licenses and other rights granted by AstraZeneca to BIND shall terminate or (b) continue the Agreement by notice to BIND and seek damages for such breach provided that if AstraZeneca
elects to continue then (i) at AstraZeneca’s election all joint committees shall be permanently disbanded and any matters requiring consultation or approval shall be deemed satisfied by the approval or actions of AstraZeneca and only those
reports contemplated under Section 8.6 shall continue. AstraZeneca may require BIND at its own cost to cooperate and take such measures as may be requested to ensure a prompt and smooth transition to AstraZeneca or its designee of all
those activities required under this Agreement to be undertaken by BIND to ensure the continued development and commercialization of any Candidate Product or Product (including as necessary a transfer of relevant technology), subject to the
achievement of the activities referred to in the foregoing part of this sentence then in no event shall this sentence apply to any activities that would require BIND to disclose any trade secrets to AstraZeneca or its designee. Any money damages
that may be awarded to AstraZeneca arising from any breach of this Agreement by BIND may be set off against any monies owed by AstraZeneca to BIND as provided for in Section 8. For clarity, in the event of termination by AstraZeneca in
accordance with Section 14.2(c), AstraZeneca shall have no obligation to make any further payments in respect of the Initial Capital Equipment. 
 14.4 Survival. In addition to the termination consequences set forth in Section 14.2(g), and 14.3 the following provisions will survive expiration or termination of this
Agreement for any reason, as well as any other provision which by its terms or by the context thereof, is intended to survive such termination: Section 1, Section 2.2(a) [***], Section 2.2(c),
Section 4.6 [***], Section 7.4, Section 8.3(b) (survives an expiration but not termination of this Agreement), Section 8.6(d), Section 8.6(j), Section 9.1,
Section 9.2, Section 9.4, Section 12, Section 13.4, Section 13.5, Section 13.7, Section 13.8, Section 14.4, and Section 15. Expiration or
termination of this Agreement for any reason will not relieve the Parties of any liability or obligation which accrued hereunder prior to the effective date of such termination or expiration, nor preclude either Party from pursuing all rights and
remedies it may have hereunder or at law or in equity with respect to any breach of this Agreement, nor prejudice either Party’s right to obtain performance of any obligation. All other rights and obligations will terminate upon expiration or
termination of this Agreement. 
 Section 15 General Provisions. 

15.1 Assignment. Neither Party may assign its rights or, except with respect to AstraZeneca, as provided in
Section 7.5, delegate its obligations under this Agreement, without the prior written consent of the other Party; provided, that each Party shall have the right without such consent to: (a) perform any or all of its
obligations and exercise any or all of its rights through its Affiliates; (b) assign any or all of its rights and delegate any or all of its obligations to any of its Affiliates; and (c) assign all of its rights and obligations hereunder
to a successor in interest to all or substantially all of the business to which this Agreement relates. Any assignment or transfer in violation of this Section 0 will be void. This Agreement will inure to the benefit of, and be binding upon,
the legal representatives, successors and permitted assigns of the Parties. 
  

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 15.2 Force Majeure. Neither Party will be held liable or responsible to the other
Party nor be deemed to have breached this Agreement for failure or delay in fulfilling or performing any term of this Agreement (other than any obligation to pay monies) if, but only to the extent that, such failure or delay results from causes
beyond the reasonable control of the affected Party, potentially including fire, floods, embargoes, terrorism, war, acts of war (whether war be declared or not), insurrections, riots, civil commotions, strikes, lockouts or other labor disturbances,
acts of God or acts, omissions or delays in acting by any governmental authority or any other person or entity; provided that the Party affected will promptly notify the other of the force majeure condition and will exert reasonable efforts
to eliminate, cure or overcome any such causes and to resume performance of its obligations as soon as possible. 
 15.3
Severability. If any of the provisions contained in this Agreement are held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein will not in any way be
affected or impaired thereby, unless the absence of the invalidated provision(s) adversely affects the substantive rights of the Parties. The Parties will in such an instance use their commercially reasonable efforts to replace the invalid, illegal
or unenforceable provision(s) with valid, legal and enforceable provision(s) which, insofar as practical, implement the purposes of this Agreement. 
 15.4 Amendment; Waiver. This Agreement may not be modified, amended or rescinded, in whole or part, except by a written instrument signed by the Parties; provided that any unilateral
undertaking or waiver made by one Party in favor of the other will be enforceable if undertaken in a writing signed by the Party to be charged with the undertaking or waiver. No delay or omission by either Party hereto in exercising any right or
power occurring upon any breach by the other Party with respect to any of the terms of this Agreement will impair any such right or power or be construed to be a waiver thereof. A waiver by either of the Parties of any of the covenants, conditions
or agreements to be performed by the other will not be construed to be a waiver of any succeeding breach thereof or of any other covenant, condition or agreement herein contained. 

15.5 Notices. Except as otherwise provided herein, all notices under this Agreement will be sent by certified mail or by overnight
courier service, postage prepaid, to the following addresses of the respective Parties: 
  

			
	 If to AstraZeneca, to:
	  	 AstraZeneca AB (publ)
 SE-431
83 Molndal
  
 Sweden

 
 Attention: Legal Department

 
 Fax: +46 31 7763871

		
	 With a required copy to:
	  	 AstraZeneca UK Limited,
 Legal
Department
 Mereside,
 Alderley
Park,
 Macclesfield
 SK10
4TF
 Attention: The Assistant General Counsel

  
 46 

 LICENSE AGREEMENT 

 

			
	 If to BIND, to:
	  	 BIND Therapeutics, Inc.
 325
Vassar Street
 Cambridge, Massachusetts 02139
 Attention: CEO

		
	 With copies to:
	  	 Goodwin Procter LLP
 53 State
Street
 Boston, MA 02109
 Attention:
Christopher Denn, Esq.

		
	 and
	  	
		
		  	 Latham & Watkins LLP

John Hancock Tower,
20th Floor

200 Clarendon Street
 Boston, MA 02116

Attention: Peter N. Handrinos, Esq.

 or to such address as each Party may hereafter designate by notice to the other Party. A notice will be deemed to have
been given on the date it is received by all required recipients for the noticed Party. 
 15.6 Applicable Law. This
Agreement shall be exclusively governed by the laws of the State of Delaware without regard to its conflict of law principles. Subject to any other dispute resolution provisions set forth in this Agreement (including but not limited to equitable
relief from any court of competent jurisdiction for breach), the Parties consent to the exclusive jurisdiction of the state of Delaware. 
 15.7 Disputes. The Parties recognize that, from time to time during the Term, disputes may arise as to certain matters which relate to either Party’s rights and/or obligations hereunder. It is
the objective of the Parties to establish procedures to facilitate the resolution of disputes arising under this Agreement in an expedient manner by mutual cooperation and without resort to litigation. To accomplish this objective, the Parties agree
to follow the procedures set forth in this Section 15.7 to resolve any controversy or claim arising out of, relating to or in connection with any provision of this Agreement. 

(a) Escalation of Disputes. With respect to all disputes arising between the Parties, including any alleged failure to
perform, or breach, of this Agreement, or any issue relating to the interpretation or application of this Agreement, if the Parties are unable to resolve such dispute within [***] after such dispute is first identified by either Party in writing to
the other, the Parties shall refer such dispute to the [***] and [***] at AstraZeneca of each of the Parties, or a designee from senior management with decision-making authority [***] for attempted resolution by good-faith negotiations within [***]
after such notice is received. If such dispute is not resolved in accordance with this Section 15.7(a) then either Party may initiate arbitration in accordance with the procedures set forth in Section 15.7(b). 

 

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 (b) Accelerated Arbitration. If any matter is submitted to
arbitration by a Party under Sections 14.2 or 15.7(a) or otherwise under this Agreement, then the following procedures shall apply: 
 (i) The Parties shall mutually select a single independent, conflict-free arbitrator (the “Expert”), who shall have sufficient scientific background and experience to adjudicate the
dispute (the “Arbitration Matter”). If the Parties are unable to reach agreement on the selection of an Expert within [***] of the date of the arbitration demand, then either or both Parties shall immediately request the American
Arbitration Association of New York, USA to select an arbitrator with the requisite scientific background, experience and expertise (which arbitrator shall also be deemed the Expert for purposes of this Section 15.7). The place of
arbitration shall be New York, New York, and all proceedings and communications shall be in English. 
 (ii) Each Party shall
prepare and submit a written summary of such Party’s position and any relevant evidence in support thereof to the Expert within [***] of the selection of the Expert and provide a copy of the same to the other Party. Within [***] of the exchange
of such summaries, each Party shall submit a written rebuttal of the other Party’s summary and may also amend and re-submit its original summary. Oral presentations shall not be permitted unless otherwise requested by the Expert. The Expert
shall make a final decision with respect to the Arbitration Matter within [***] following receipt of the last of such rebuttal statements submitted by the Parties. 
 (iii) Either Party may apply to the Expert for interim injunctive relief until the arbitration decision is rendered or the Arbitration Matter is otherwise resolved. Either Party also may, without waiving
any right or remedy under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that Party pending resolution of the Arbitration Matter pursuant to this
Section 15.7. Each Party shall bear its own costs and expenses and attorneys’ fees incurred in the Arbitration Matter, and shall pay an equal share of the fees and administrative costs of the Expert. 

(iv) Except to the extent necessary to confirm an award or decision or as may be required by Applicable Laws, neither Party may, and the
Parties shall instruct the Expert not to, disclose the existence, content, or results of an arbitration without the prior written consent of both Parties. In no event shall an arbitration be initiated after the date when commencement of a legal or
equitable proceeding based on the Arbitration Matter would be barred by the applicable New York statute of limitations. 
 (v)
The Parties hereby agree that, with respect to a disputed milestone event, if the Expert determines that the milestone event has in fact occurred, AstraZeneca shall make the applicable milestone payment within [***] of the Expert’s
determination. 
 (vi) The Parties hereby agree that any payment to be made by a Party pursuant to a decision of the Expert
shall be made in United States dollars, free of any tax or other deduction. The Parties further agree that the decision of the Expert shall be the sole, exclusive and binding remedy between them regarding determination of the Arbitration Matters
presented. 
  

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 15.8 Further Assurances. Each Party agrees to do and perform all such further
acts and things and will execute and deliver such other agreements, certificates, instruments and documents necessary or that the other Party may deem advisable in order to carry out the intent and accomplish the purposes of this Agreement and to
evidence, perfect or otherwise confirm its rights hereunder. 
 15.9 Cumulative Remedies and Irreparable Harm. All rights
and remedies of the Parties hereunder will be cumulative and in addition to all other rights and remedies provided hereunder or available by agreement, at law or otherwise. Each Party acknowledges and agrees that breach of any of the terms or
conditions of this Agreement may cause irreparable harm and damage to the other and that such damage may not be ascertainable in money damages and that as a result thereof the Non-Breaching Party would be entitled to seek from a court equitable or
injunctive relief restraining any breach or future violation of the terms contained herein by the breaching Party. Such right to equitable relief is in addition to whatever remedies either Party may be entitled to as a matter of law or equity,
including money damages. 
 15.10 Change of Control. Notwithstanding anything to the contrary herein, (i) no
Know-How, Materials, Patents or other intellectual property rights not owned or controlled by BIND or any of its Affiliates before a Change of Control will be Controlled for purposes of this Agreement after such Change of Control, other than
(1) Program IP no matter when Controlled, and (2) any Patent that claims priority, directly or indirectly, to any other Patent first Controlled before such Change of Control will be Controlled thereafter no matter when such Patent is filed
or issued, and (ii) no assets of BIND or any of its Affiliates, including the items listed in clause (i) above, not owned or in-licensed by BIND or any of its Affiliates before a Change of Control will be subject to Section 6
and the provisions thereunder. In the event of a Change of Control, BIND will have the option to transfer its Manufacturing obligations under Section 5 to AstraZeneca upon [***] prior written notice. 

15.11 Relationship of the Parties. Each Party is an independent contractor under this Agreement. Nothing contained herein is
intended or is to be construed so as to constitute BIND and AstraZeneca as partners, agents or joint venturers. Neither Party will have any express or implied right or authority to assume or create any obligations on behalf of or in the name of the
other Party or to bind the other Party to any contract, agreement or undertaking with any Third Party. There are no express or implied third party beneficiaries hereunder (except for AstraZeneca Indemnitees other than AstraZeneca and BIND
Indemnitees other than BIND for purposes of Section 13.7). 
 15.12 Entire Agreement. This Agreement (along
with the Exhibits and Schedules), the Product Development and Manufacturing Program Plan and the Clinical Development & Commercialization Plan contain the entire understanding of the Parties with respect to the subject matter hereof and
supersede and replace any and all previous arrangements and understandings, including the Feasibility Study Agreement and the Prior License Agreement, whether oral or written, between the Parties with respect to the subject matter hereof.

  

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 15.13 Headings. The captions to the several Sections hereof are not a part of
this Agreement, but are merely guides or labels to assist in locating and reading the several Sections hereof. 
 15.14
Waiver of Rule of Construction. Each Party has had the opportunity to consult with counsel in connection with the drafting and negotiation of this Agreement. Accordingly, the rule of construction that any ambiguity will be construed against
the drafting party will not apply. 
 15.15 Interpretation. Whenever any provision of this Agreement uses the term
“including” (or “includes”), such term means “including without limitation” (or “includes without limitations”). “Herein,” “hereby,” “hereunder,” “hereof” and
other equivalent words refer to this Agreement as an entirety and not solely to the particular portion of this Agreement in which any such word is used. All definitions set forth herein will be deemed applicable whether the words defined are used
herein in the singular or the plural. Unless otherwise provided, all references to Sections and Exhibits in this Agreement are to Sections and Exhibits of this Agreement. 
 15.16 Counterparts; Facsimiles. This Agreement may be executed in two or more counterparts, each of which will be deemed an original and all of which together will constitute one and the same
instrument. Facsimile execution and delivery of this Agreement by either Party will constitute a legal, valid and binding execution and delivery of this Agreement by such Party. 

[Remainder of this Page Intentionally Left Blank] 

  
 50 

 LICENSE AGREEMENT 

 

 IN WITNESS WHEREOF, the Parties have caused this License Agreement to be executed by
their respective duly authorized representatives as of the Effective Date. 
  

			
	BIND THERAPEUTICS, INC.
		
	By:	 	 /s/ Scott Minick

		
	Name:	 	Scott Minick
		
	Title:	 	Chief Executive Officer and President
	
	ASTRAZENECA AB (publ)
		
	By:	 	 /s/ Anders Ekblom

		
	Name:	 	Anders Ekblom
		
	Title:	 	President AstraZeneca AB

 LICENSE AGREEMENT 

 

 EXHIBIT 1.6 

ASTRAZENECA BACKGROUND PATENTS 

[***] 
  

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portions. 

 LICENSE AGREEMENT 

 

 EXHIBIT 1.8 

THIRD PARTY LICENSE AGREEMENTS 

Exclusive License Agreement between JHU and BIND, effective as of February 17, 2009, as such agreement may be amended or restated. 

Exclusive Patent License Agreement, by and between MIT and BIND, effective as of June 30, 2007 and amended as of November 24, 2008, as such
agreement may be amended or restated. 
 Exclusive License Agreement, by and between Yale University and BIND, effective as of January 31,
2013, as such agreement may be amended or restated. 

 LICENSE AGREEMENT 

 

 EXHIBIT 1.9 

BIND BACKGROUND PATENTS 
 [***] 
  

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portions. 

 LICENSE AGREEMENT 

 

 EXHIBIT 2.1(a) 

[***] 
  

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portions. 

 LICENSE AGREEMENT 

 

 SCHEDULE 5.1 

Material Terms for the Supply Agreement and Quality Agreement 

[***] 
  

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portions. 

 LICENSE AGREEMENT 

 

 EXHIBIT 10.1(b) 

BIND PATENTS 
 [***] 
  

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portions.EX-10.18

 Exhibit 10.18 
 AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 
 THIS AMENDED AND RESTATED LOAN
AND SECURITY AGREEMENT, dated as of June 12, 2013 (the “Effective Date”), is entered into by and between BIND THERAPEUTICS, INC., a Delaware corporation, and each of subsidiaries that execute a Joinder Agreement from time to time,
(individually, a “Borrower” and, collectively, the “Borrowers”), and HERCULES TECHNOLOGY III, L.P., a Delaware limited partnership (the “Lender”). 
 RECITALS 
 A. Borrower and Lender are party to the Loan and Security
Agreement, dated as of January 10, 2011 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Original Loan Agreement”). 
 B. Borrowers have requested loans in an aggregate principal amount of up to Eight Million Five Hundred Thousand Dollars ($8,500,000) (the “Term Loan”); and 

C. Lender is willing to make the Term Loan on the terms and conditions set forth in this Agreement. 

AGREEMENT 

NOW, THEREFORE, Borrowers and Lender agree as follows: 
  

	SECTION 1.	DEFINITIONS AND RULES OF CONSTRUCTION 

 1.1 Unless otherwise defined herein, the following capitalized terms shall have the following meanings: 
 “Account Control Agreement(s)” means any agreement entered into by and among the Lender, a Borrower and a third party Bank or other institution (including a Securities Intermediary) in which
Borrower maintains a Deposit Account or an account holding Investment Property and which grants Lender a perfected first priority security interest in the subject account or accounts. 

“ACH Authorization” means the ACH Debit Authorization Agreement in substantially the form of Exhibit H. 

“Advance” means the First Advance or the Second Advance. 

“Advance Date” means the funding date of any Advance. 
 “Advance Request” means a request for an Advance submitted by a Borrower to Lender in substantially the form of Exhibit A. 

“Agreement” means this Amended and Restated Loan and Security Agreement, as amended from time to time. 

“Assignee” has the meaning given to it in Section 11.14. 

  
 1 

 “Bind Russia” means BIND RUS LLC, a Russian limited liability company. 

“Borrower” or “Borrowers” has the meaning given to it in the preamble to this Agreement. 

“Borrower Products” means all products, software, service offerings, technical data or technology currently being designed,
manufactured or sold by a Borrower or which such Borrower intends to sell, license, or distribute in the future including any products or service offerings under development, collectively, together with all products, software, service offerings,
technical data or technology that have been sold, licensed or distributed by such Borrower since its incorporation. 

“Cash” means all cash and liquid funds (such as cash equivalents). 

“Change in Control” means any (i) reorganization, recapitalization, consolidation or merger (or similar transaction or
series of related transactions) of a Borrower, sale or exchange of outstanding shares (or similar transaction or series of related transactions) of a Borrower or any Subsidiary in which the holders of a Borrower’s outstanding shares immediately
before consummation of such transaction or series of related transactions do not (together with any affiliates of such holders), immediately after consummation of such transaction or series of related transactions, retain shares representing more
than fifty percent (50%) of the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity if such surviving entity is wholly owned by such parent), in each case without
regard to whether a Borrower is the surviving entity, or (ii) sale or issuance by a Borrower of new shares of Preferred Stock of a Borrower to investors, none of whom are current investors in a Borrower, shares representing more than fifty
percent (50%) of the voting power of the surviving entity of such transaction or series of related transactions (or the parent of such surviving entity if such surviving entity is wholly owned by such parent); provided, however, an Initial
Public Offering shall not constitute a Change in Control, or (iii) any of the chief executive officer thereafter, or the chief financial officer of Borrower as of the date hereof shall cease to be involved in the day to day management of the
business of Borrower, and a successor of such officer reasonably acceptable to Borrower’s board of directors is not appointed on terms reasonably acceptable to Lender within 180 days of such cessation of such involvement. 

“Claims” has the meaning given to it in Section 11.10. 

“Collateral” means the property described in Section 3. 

“Confidential Information” has the meaning given to it in Section 11.13. 

“Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that
Person with respect to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another, including any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that
Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account of that Person; and
(iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in
interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any Contingent
Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. 

  
 2 

 “Copyright License” means any written agreement granting any right to use any
Copyright or Copyright registration, now owned or hereafter acquired by a Borrower or in which a Borrower now holds or hereafter acquires any interest. 
 “Copyrights” means all copyrights, whether registered or unregistered, held pursuant to the laws of the United States, any State thereof, or of any other country. 

“Deficiency Date” has the meaning given to it in Section 7.17. 

“Deposit Accounts” means any “deposit accounts,” as such term is defined in the UCC, and includes any checking
account, savings account, or certificate of deposit. 
 “Effective Date” has the meaning given to it in the preamble
to this Agreement. 
 “ERISA” is the Employee Retirement Income Security Act of 1974, and its regulations, as amended
and in effect from time to time. 
 “Existing Loan” means $2,339,526, equal to the outstanding principal amount plus
all accrued and unpaid interest due under the Original Loan Agreement. 
 “Event of Default” has the meaning given to
it in Section 9. 
 “Financial Statements” means the financial statements required to be delivered under
Section 7.1. 
 “First Advance” has the meaning given to it in Section 2.1(a). 

“GAAP” means generally accepted accounting principles in the United States of America, as in effect from time to time.

 “Guarantor” means any Person who signs a guaranty in respect of Borrower’s obligations under this Agreement.

 “Indebtedness” means (a) all indebtedness for borrowed money or the deferred purchase price of property or
services (excluding trade credit entered into in the ordinary course of business and not past due more than 90 days), including reimbursement and other obligations with respect to surety bonds and letters of credit, (b) all obligations
evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations, and (d) all Contingent Obligations. 
 “Initial Public Offering” means the closing of the initial firm commitment underwritten offering of Borrower’s common stock pursuant to a registration statement under the Securities Act of
1933 (the “Securities Act”) filed with, and declared effective by, the Securities and Exchange Commission. 

“Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other
bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other similar relief. 

  
 3 

 “Intellectual Property” means all of a Borrower’s Copyrights; Trademarks;
Patents; Licenses; trade secrets and inventions; mask works; Borrower’s applications therefor and reissues, extensions, or renewals thereof; and a Borrower’s goodwill associated with any of the foregoing, together with Borrower’s
rights to sue for past, present and future infringement of Intellectual Property and the goodwill associated therewith. 

“Interest Only Period” means the period from the Effective Date through February 28, 2014, which shall be extended to
May 31, 2014 automatically upon satisfaction of the condition set forth in Section 2.1(d) in connection with the receipt of the Second Advance. 
 “Interest Rate” means a floating per annum rate equal to (a) 10.25% plus (b) the Prime Rate minus 3.25%, not in any case less than 10.25% per annum. 

“Investment” means any beneficial ownership (including stock, partnership or limited liability company interests) of or in any
Person, or any loan, advance or capital contribution to any Person or the acquisition of all, or substantially all, of the assets of another Person. 
 “Joinder Agreements” means for each domestic Subsidiary (other than MSC Subsidiary), a completed and executed Joinder Agreement in substantially the form attached hereto as Exhibit G.

 “Lender” has the meaning given to it in the preamble to this Agreement. 

“Lender Expenses” are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses)
for preparing, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred with respect to a Borrower. 

“License” means any Copyright License, Patent License, Trademark License or other license of rights or interests. 

“Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment for security, security interest, encumbrance, levy,
lien or charge of any kind, whether voluntarily incurred or arising by operation of law or otherwise, against any property, any conditional sale or other title retention agreement, and any lease in the nature of a security interest. 

“Liquidity” means, as of any date, Borrower’s Cash and/or Cash Equivalents maintained in Deposit Accounts and/or accounts
holding Investment Property that are subject to an Account Control Agreement. 
 “Loan” means the Advances made under
this Agreement. 
 “Loan Documents” means this Agreement, the ACH Authorization, the Account Control Agreements, all
UCC Financing Statements, and any other documents executed in connection with the Secured Obligations or the transactions contemplated hereby (excluding the Warrant or any equity investment), as the same may from time to time be amended, modified,
supplemented or restated. 
 “Material Adverse Effect” means a material adverse effect upon: (i) the business,
operations, properties, assets, or condition (financial or otherwise) of a Borrower; or (ii) the ability of a Borrower to perform the Secured Obligations in accordance with the terms of the Loan Documents, or the ability of Lender to enforce
any of its rights or remedies with respect to the Secured Obligations; or (iii) the Collateral or Lender’s Liens on the Collateral or the priority of such Liens. 

  
 4 

 “Material Agreement” means (i) any agreements or instruments relating to the
Subordinated Debt, (ii) any agreement to which a Borrower is a party involving the receipt of payment of amounts in the aggregate exceeding $500,000 per year, and (iii) any agreement to which a Borrower is a party the termination of which
would reasonably be expected to have a Material Adverse Effect. 
 “Maturity Date” means the
first day of the 30th month following expiration of the
Interest Only Period. 
 “Maximum Rate” shall have the meaning assigned to such term in Section 2.2. 

“MSC Subsidiary” means Bind Biosciences Securities Corporation, a Massachusetts corporation. 

“Original Closing Date” means January 10, 2011. 
 “Original Loan Agreement” has the meaning given to it in the Recitals. 

“Patent License” means any written agreement granting any right with respect to any invention on which a Patent is in existence
or a Patent application is pending, in which agreement Borrower now holds or hereafter acquires any interest. 

“Patents” means all letters patent of, or rights corresponding thereto, in the United States or in any other country, all
registrations and recordings thereof, and all applications for letters patent of, or rights corresponding thereto, in the United States or any other country. 
 “Permitted Indebtedness” means: 
 (i) Indebtedness of a Borrower in
favor of Lender arising under this Agreement or any other Loan Document; 
 (ii) Indebtedness existing on the Effective Date
which is disclosed in Schedule 1A; 
 (iii) Indebtedness of up to $1,000,000 in the aggregate principal amount outstanding at
any time secured by a lien described in clause (vii) or clause (xvii) of the defined term “Permitted Liens”; 
 (iv) Indebtedness to trade creditors incurred in the ordinary course of business, including Indebtedness incurred in the ordinary course of business with corporate credit cards; 

(v) Indebtedness that also constitutes a Permitted Investment; 
 (vi) Subordinated Indebtedness; 
 (vii) reimbursement obligations in connection
with letters of credit that are secured by cash or cash equivalents and issued on behalf of a Borrower or a Subsidiary thereof in an aggregate principal amount not to exceed $950,000 at any time outstanding; 

(viii) other Indebtedness in an amount not to exceed $100,000 at any time outstanding; 

  
 5 

 (ix) Indebtedness owing by any Borrower to another Borrower, provided that (a) each
Borrower shall have executed and delivered to the other Borrower a demand note to evidence such Indebtedness, which note shall be in form and substance reasonably satisfactory to Lender and shall be pledged to Lender pursuant to the Pledge Agreement
and (b) such Indebtedness shall be subordinated to the Secured Obligations pursuant to the subordination terms set forth in such note, and (c) no Event of Default would occur either before or after giving effect to any such indebtedness;

 (x) Indebtedness incurred in connection with interest rate swaps incurred in the ordinary course of business; and 

(xi) extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the principal amount is not increased or
the terms modified to impose materially more burdensome terms upon a Borrower or its Subsidiary, as the case may be. 

“Permitted Investment” means: 
 (i) Investments existing on the Effective Date which are disclosed in Schedule 1B; 

(ii) (a) marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any
State thereof maturing within one year from the date of acquisition thereof, (b) commercial paper maturing no more than one year from the date of creation thereof and currently having a rating of at least A-2 or P-2 from either
Standard & Poor’s Corporation or Moody’s Investors Service, (c) certificates of deposit issued by any bank with assets of at least $500,000,000 maturing no more than one year from the date of investment therein, and
(d) money market accounts; 
 (iii) repurchases of stock from former employees, directors, or consultants of a Borrower
under the terms of applicable repurchase agreements at the original issuance price of such securities in an aggregate amount not to exceed $250,000 in any fiscal year, provided that no Event of Default has occurred, is continuing or would exist
after giving effect to the repurchases; 
 (iv) Investments accepted in connection with Permitted Transfers; 

(v) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers and
in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of a Borrower’s business; 
 (vi) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to customers and suppliers who are not affiliates, in the ordinary course of business, provided that
this subparagraph (vi) shall not apply to Investments of a Borrower in any Subsidiary; 
 (vii) Investments consisting of
loans not involving the net transfer on a substantially contemporaneous basis of cash proceeds to employees, officers or directors relating to the purchase of capital stock of a Borrower pursuant to employee stock purchase plans or other similar
agreements approved by a Borrower’s Board of Directors; 
 (viii) Investments consisting of travel advances in the ordinary
course of business; 
 (ix) Investments in MSC Subsidiary and newly-formed Subsidiaries organized in the United States, provided
that any such newly-formed Subsidiaries (excluding MSC Subsidiary) shall enter into a Joinder Agreement promptly after their formation by a Borrower and execute such other documents as shall be reasonably requested by Lender; 

  
 6 

 (x) Investments in Subsidiaries organized outside of the United States approved in advance
in writing by Lender; 
 (xi) joint ventures, partnerships or strategic alliances consistent with the ordinary course of
business in Borrower’s industry, provided that any cash Investments by Borrower therein do not exceed $500,000 in the aggregate in any fiscal year; 
 (xii) Investments made pursuant to any investment policy adopted by a Borrower after the Effective Date and approved by Lender; 
 (xiii) Investments by a Borrower in a Borrower; 
 (xiv) Borrower’s Investment
in Bind Russia and Investments by Bind Russia, in each case pursuant to the RUSNANO Investment Agreement as consented to in writing by Lender under Section 2(d)(i) of that certain Waiver and Consent Agreement, dated as of October 27, 2011,
and the Consent Agreement, dated as of January 17, 2013, in both cases between Borrower and Lender; and 
 (xv) additional
Investments that do not exceed $250,000 in the aggregate. 
 “Permitted Liens” means any and all of the following:

 (i) Liens in favor of Lender; 
 (ii) Liens existing on the Effective Date which are disclosed in Schedule 1C; 

(iii) Liens for taxes, fees, assessments or other governmental charges or levies, either not delinquent or being contested in good
faith by appropriate proceedings; provided, that Borrower maintains adequate reserves therefor in accordance with GAAP; 

(iv) Liens securing claims or demands of materialmen, artisans, mechanics, carriers, warehousemen, landlords and other like Persons
arising in the ordinary course of a Borrower’s business and imposed without action of such parties; provided, that the payment thereof is not yet required; 
 (v) Liens arising from judgments, decrees or attachments in circumstances which do not constitute an Event of Default hereunder; 

(vi) the following deposits, to the extent made in the ordinary course of business: deposits under worker’s compensation,
unemployment insurance, social security and other similar laws, or to secure the performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure indemnity, performance or other similar bonds for the
performance of bids, tenders or contracts (other than for the repayment of borrowed money) or to secure statutory obligations (other than liens arising under ERISA or environmental liens) or surety or appeal bonds, or to secure indemnity,
performance or other similar bonds; 
 (vii) Liens on Equipment, software or other intellectual property, or other capital
assets (not including Inventory) constituting purchase money liens and liens in connection with capital leases securing Indebtedness permitted in clause (iii) of “Permitted Indebtedness”; 

  
 7 

 (viii) Liens incurred in connection with Subordinated Indebtedness; 

(ix) leasehold interests in leases or subleases and licenses granted in the ordinary course of business and not interfering in any
material respect with the business of the licensor; 
 (x) Liens in favor of customs and revenue authorities arising as a matter
of law to secure payment of custom duties that are promptly paid on or before the date they become due; 
 (xi) Liens on
insurance proceeds securing the payment of financed insurance premiums that are promptly paid on or before the date they become due (provided that such Liens extend only to such insurance proceeds and not to any other property or assets);

 (xii) statutory and common law rights of set-off and other similar rights as to deposits of cash and securities in favor of
banks, other depository institutions and brokerage firms; 
 (xiii) easements, zoning restrictions, rights-of-way and similar
encumbrances on real property imposed by law or arising in the ordinary course of business so long as they do not materially impair the value or marketability of the related property; 

(xiv) Liens on cash or cash equivalents securing obligations permitted under clause (vii) of the definition of Permitted
Indebtedness; 
 (xv) Licenses that constitute Permitted Transfers; 

(xvi) Liens securing the Indebtedness permitted in clause (vii) of “Permitted Indebtedness”; and 

(xvii) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described
in clauses (i) through (xi) above; provided, that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or
refinanced (as may have been reduced by any payment thereon) does not increase. 
 “Permitted Transfers” means

 (i) sales of Inventory in the normal course of business, 

(ii) non-exclusive and exclusive licenses for the use of Intellectual Property in the ordinary course of business of the transferor so
long as, with respect to each such license (a) no Event of Default has occurred or is continuing at the time of such Transfer, (b) the license constitutes an arms-length transaction in the course of the transferor’s business (and in
the case of any exclusive license, made in connection with a bona fide transaction and approved by the board of directors of the transferor) and such license (other than any exclusive license made in connection with a bona fide transaction and
approved by the board of directors of the transferor) is not a sale or assignment of the transferor’s Intellectual Property and does not restrict such transferor’s ability to pledge, grant a security in or lien on, or assign or otherwise
Transfer any Intellectual Property (other than an otherwise Permitted Transfer), (c) in the case of an exclusive license or a non-exclusive license that must be approved by the board of directors of the transferor, the transferor delivers 10
days prior written notice and a brief summary of the terms of the license to Lender, (d) in the case of an exclusive license or a non-exclusive license that must be approved by the board of directors of the transferor, the transferor delivers
to Lender copies of the final executed licensing documents in 

  
 8 

 
connection with the license promptly upon consummation of the license, (e) all royalties, milestone payments or other proceeds arising from the licensing agreement are paid to a deposit
account that is governed by an Account Control Agreement (except such requirement shall not apply to any payments or proceeds received under the RUSNANO License Agreement), and (f) in the case of any exclusive licenses (other than any exclusive
licenses whereby Borrower exclusively licenses its platform Intellectual Property for use only in connection with the counterparty’s molecules), Lender has consented to the terms thereof (or if no such consent is given, then the first proceeds
arising out of the license shall be used to repay the Secured Obligations in full), 
 (iii) dispositions of worn-out, obsolete
or surplus Equipment at fair market value in the ordinary course of business, and 
 (iv) other Transfers of assets having a
fair market value of not more than $250,000 in the aggregate in any fiscal year. 
 “Person” means any individual,
sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation, limited liability company, institution, other entity or government. 

“Preferred Stock” means at any given time any equity security issued by a Borrower that has any rights, preferences or
privileges senior to a Borrower’s common stock. 
 “Prepayment Charge” shall have the meaning assigned to such
term in Section 2.4. 
 “Prime Rate” means the Prime Rate that appears from time to time in the Western Edition
of The Wall Street Journal. 
 “Receivables” means (i) all of a Borrower’s Accounts, Instruments,
Documents, Chattel Paper, Supporting Obligations, letters of credit, proceeds of any letter of credit, and Letter of Credit Rights. 
 “RUSNANO Investment Agreement” means the Series D Preferred Stock Investment Agreement and Series BRN Preferred Stock Investment Agreement dated as of October 27, 2011, as amended by the
First Amendment to Series D Preferred Stock Investment Agreement and Series BRN Preferred Stock Investment Agreement dated as of January 23, 2013, in the form presented to Lender as of the Effective Date. 

“RUSNANO License Agreement” means the Intellectual Property License Agreement dated as of November 7, 2011, in the form
presented to Lender as of the Effective Date. 
 “SBA” shall have the meaning assigned to such term in
Section 7.15. 
 “SBIC” shall have the meaning assigned to such term in Section 7.15. 

“SBIC Act” shall have the meaning assigned to such term in Section 7.15. 

“Second Advance” has the meaning given to it in Section 2.1(a). 

“Secured Obligations” means a Borrower’s obligations under this Agreement and any Loan Document, including any obligation
to pay any amount now owing or later arising. 

  
 9 

 “Subordinated Indebtedness” means Indebtedness subordinated to the Secured
Obligations in amounts and on terms and conditions satisfactory to Lender in its sole discretion. 
 “Subsidiary”
means an entity, whether corporate, partnership, limited liability company, joint venture or otherwise, in which a Borrower owns or controls 50% or more of the outstanding voting securities, including each entity listed on Schedule 1 hereto.

 “Term Loan” has the meaning given to it in the Recitals. 

“Threshold Amount” has the meaning given to it in Section 7.17. 

“Trademark License” means any written agreement granting any right to use any Trademark or Trademark registration, now owned or
hereafter acquired by Borrower or in which Borrower now holds or hereafter acquires any interest. 
 “Trademarks”
means all trademarks (registered, common law or otherwise) and any applications in connection therewith, including registrations, recordings and applications in the United States Patent and Trademark Office or in any similar office or agency of the
United States, any State thereof or any other country or any political subdivision thereof. 
 “UCC” means the Uniform
Commercial Code as the same is, from time to time, in effect in the State of California; provided, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of, or remedies with respect
to, Lender’s Lien on any Collateral is governed by the Uniform Commercial Code as the same is, from time to time, in effect in a jurisdiction other than the State of California, then the term “UCC” shall mean the Uniform Commercial
Code as in effect, from time to time, in such other jurisdiction solely for purposes of the provisions thereof relating to such attachment, perfection, priority or remedies and for purposes of definitions related to such provisions. 

“Warrant” means the Warrant Agreement, dated the date hereof, by Borrower in favor of Lender. 

Unless otherwise specified, all references in this Agreement or any Annex or Schedule hereto to a “Section,”
“subsection,” “Exhibit,” “Annex,” or “Schedule” shall refer to the corresponding Section, subsection, Exhibit, Annex, or Schedule in or to this Agreement. Unless otherwise specifically provided herein, any
accounting term used in this Agreement or the other Loan Documents shall have the meaning customarily given such term in accordance with GAAP, and all financial computations hereunder shall be computed in accordance with GAAP, consistently applied.
Unless otherwise defined herein or in the other Loan Documents, terms that are used herein or in the other Loan Documents and defined in the UCC shall have the meanings given to them in the UCC. 

 

	SECTION 2.	THE LOAN 

2.1 Term Loan. 
 (a) Advances. Subject to the terms and conditions of this Agreement including those in Section 2.1(d) below, Lender shall make two Advances to Borrower in an aggregate principal amount of up
to $8,500,000. The first Advance (the “First Advance”) shall be $4,500,000, to be funded on the Effective Date. Borrower shall use the first proceeds of the First Advance to repay the Existing Loan, which amount shall constitute payment in
full of such loan. Borrower may request the second Advance (the “Second Advance”), in a principal amount of up to $4,000,000, at any time before December 31, 2013. 

  
 10 

 (b) Advance Request. To obtain an Advance, a Borrower shall complete,
sign and deliver an Advance Request to Lender. Lender shall fund the Advance in the manner requested by the Advance Request provided that each of the conditions precedent to such Advance is satisfied as of the requested Advance Date. 

(c) Interest. The principal balance of each Advance shall bear interest thereon from such Advance Date at the
Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed. The Interest Rate will float and change on the day the Prime Rate changes from time to time. 

(d) Conditions to Advances. As a condition to receiving the First Advance, Borrowers shall deliver evidence
reasonably satisfactory to Lender that Borrowers have received at least $12,000,000 in payments under its licensing agreements with Pfizer Inc., AstraZeneca UK Limited and Amgen Inc. As a condition to receiving the Second Advance, Borrowers shall
deliver evidence reasonably satisfactory to Lender that a Borrower has received at least $10,000,000 of non-callable or non-redeemable proceeds from the sale or issuance of its equity securities (including in the form of convertible indebtedness)
and/or payments under any partnership agreement, licensing agreement or joint venture agreement, excluding the payments that satisfied the condition to the First Advance. 

(e) Payment. During the Interest Only Period, Borrowers will pay interest on each Advance on the first business day
of each month, beginning the month after the Advance Date. Borrowers shall repay the aggregate Term Loan principal balance that is outstanding on the date the Interest Only Period expires in 30 monthly installments of principal and interest
(“mortgage style”) beginning the first business day of the month after the expiration of the Interest Only Period and continuing on the first business day of each month thereafter. The entire outstanding Term Loan principal balance and all
accrued but unpaid interest hereunder, shall be due and payable on the Maturity Date. Borrowers shall make all payments under this Agreement without setoff, recoupment or deduction and regardless of any counterclaim or defense. Lender will initiate
debit entries to a Borrower’s account as authorized on the ACH Authorization on each payment date of all periodic obligations payable to Lender under each Advance. 
 2.2 Maximum Interest. Notwithstanding any provision in this Agreement or any other Loan Document, it is the parties’ intent not to contract for, charge or receive interest at a rate that is
greater than the maximum rate permissible by law that a court of competent jurisdiction shall deem applicable hereto (which under the laws of the State of California shall be deemed to be the laws relating to permissible rates of interest on
commercial loans) (the “Maximum Rate”). If a court of competent jurisdiction shall finally determine that Borrower has actually paid to Lender an amount of interest in excess of the amount that would have been payable if all of the Secured
Obligations had at all times borne interest at the Maximum Rate, then such excess interest actually paid by a Borrower shall be applied as follows: first, to the payment of principal outstanding; second, after all principal is repaid, to the payment
of Lender’s accrued interest, costs, expenses, professional fees and any other Secured Obligations; and third, after all Secured Obligations are repaid (other than inchoate indemnity obligations), the excess (if any) shall be refunded to
Borrowers. 
 2.3 Default Interest. In the event any payment is not paid on the scheduled payment date, an amount equal
to five percent (5%) of the past due amount shall be payable on demand. In 

  
 11 

 
addition, upon the occurrence and during the continuation of an Event of Default hereunder, all Secured Obligations, including principal, interest, compounded interest, and professional fees,
shall bear interest at a rate per annum equal to the rate set forth in Section 2.1(c), plus five percent (5%) per annum. In the event any interest is not paid when due hereunder, delinquent interest shall be added to principal and shall
bear interest on interest, compounded at the rate set forth in Section 2.1(c) or Section 2.2, as applicable. 
 2.4
Prepayment. At its option upon at least 5 business days prior notice to Lender, a Borrower may prepay any part of the outstanding Advances by paying the principal balance, all accrued and unpaid interest, together with a prepayment charge
(the “Prepayment Charge”) equal to 3.0% of the amount being prepaid if prepaid before the first anniversary of the Effective Date, 2.0% of such amount if prepaid after the first but before the second anniversary of the Effective Date, and
1.0% of such amount if prepaid on or after the second anniversary of the Effective Date. There shall be no Prepayment Charge due in respect of any portion of the Advances repaid on or after the Third Anniversary of the Effective Date. Borrowers
shall pay the Prepayment Charge upon any prepayment of the Secured Obligations arising out of the occurrence of an Event of Default. Borrower agrees that the Prepayment Charge is a reasonable calculation of Lender’s lost profits in view of the
difficulties and impracticality of determining actual damages resulting from an early repayment of the Advances. 
 2.5 End
of Term Charge. 
 (a) Borrowers shall pay Lender a charge of $147,500 for the payoff of the Existing Loan on
the earliest to occur of (i) July 1, 2014, (ii) the date that Borrowers prepay the outstanding Secured Obligations (other than any inchoate indemnity obligations) in full in cash, or (iii) the due and proper acceleration of the
Secured Obligations by Lender. No prepayment fee under Section 2.4 of the Original Loan Agreement shall apply to the payoff of the Existing Loan. 
 (b) On the earliest to occur of (i) the Maturity Date, (ii) the date that Borrowers prepay the outstanding Secured Obligations (other than any inchoate indemnity obligations) in full, or
(iii) the due and proper acceleration of the Secured Obligations, Borrowers shall pay Lender a charge equal to $165,750. Notwithstanding the required payment date of such charge, it shall be deemed earned by Lender as of the Effective Date.

  

	SECTION 3.	SECURITY INTEREST 

 3.1 As
security for the prompt and complete payment when due (whether on the payment dates or otherwise) of all the Secured Obligations, each Borrower grants to Lender a security interest in all of such Borrower’s personal property now owned or
hereafter acquired, including the following (collectively, the “Collateral”): (a) Receivables; (b) Equipment; (c) Fixtures; (d) General Intangibles; (e) Inventory; (f) Investment Property; (g) Deposit
Accounts; (h) Cash; (i) Goods; and (j) other tangible and intangible personal property of such Borrower whether now or hereafter owned or existing, leased, consigned by or to, or acquired by, such Borrower and wherever located; and,
to the extent not otherwise included, all Proceeds of each of the foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of each of the foregoing. Notwithstanding any provision in this Agreement to the
contrary, the grant of security interest herein shall not extend to and the term “Collateral” shall not include (all of the following, the “Excluded Assets”): (i) the Intellectual Property (except Collateral shall include
the proceeds of any disposition of any interest in the Intellectual Property and, if any court of law requires that Lender has a security interest in the Intellectual Property in order to have a security interest in such proceeds, then Collateral
shall include the Intellectual Property, but only to the extent required to have a security interest in such proceeds), (ii) more than 65% of the issued and outstanding voting capital stock of any Subsidiary of Borrower that is incorporated or
organized in a 

  
 12 

 
jurisdiction other than the United States or any state or territory thereof, provided that other than Bind Russia, clause (ii) shall apply only to the extent that Lender taking a security
interest in more than 65% of such stock would cause Borrower to incur adverse tax consequences, (iii) any “intent-to-use” trademarks at all times prior to the first use thereof, whether by the actual use thereof in commerce, the
recording of a statement of use with the United States Patent and Trademark Office or otherwise, (iv) any license or contract to the extent and only to the extent that the granting of a security interest in such license or contract is expressly
prohibited by any applicable statute, law, or regulation, or would constitute a default under or a breach of such license or contract, as applicable, but only to the extent that such prohibition or default is enforceable under applicable law
(including without limitation Sections 9406, 9407 and 9408 of the UCC); provided that upon the termination or expiration of any such prohibition, such license or contract, as applicable, shall automatically be subject to the security interest
granted in favor of Lender hereunder and become part of the “Collateral”; and (v) Borrower’s account no. 1894064896 with Comerica Bank, in which Borrower shall permit a balance not to exceed Borrower’s reimbursement
obligations in connection with Letters of Credit and corporate credit cards secured by such account. 
  

	SECTION 4.	CONDITIONS PRECEDENT TO LOAN 

The obligations of Lender to make the Loan hereunder are subject to the satisfaction by Borrowers of the following conditions: 

4.1 Advances. On or prior to the Effective Date, Borrowers shall have delivered to Lender the following: 

(a) executed originals of the Loan Documents, the Warrant, a legal opinion of Borrowers’ counsel, and all other
documents and instruments reasonably required by Lender to effectuate the transactions contemplated hereby or to create and perfect the Liens of Lender with respect to all Collateral, in all cases in form and substance reasonably acceptable to
Lender; 
 (b) certified copy of resolutions of each Borrower’s board of directors evidencing approval
of (i) the Loan and other transactions evidenced by the Loan Documents and (ii) the Warrant and transactions evidenced thereby; 
 (c) certified copies of the Certificate of Incorporation and the Bylaws, as amended through the Closing Date, of each Borrower, as applicable; 

(d) an Advance Request for the First Advance, duly executed by Borrower; 

(e) payment of (i) a facility charge of $85,000 and (ii) an amount equal to the Lender Expenses incurred in
connection with this Agreement; 
 (f) a certificate of an officer of Borrower; and 

(g) such other documents as Lender may reasonably request. 

4.2 All Advances. On each Advance Date: 
 (a) Lender shall have received (i) an Advance Request for the relevant Advance as required by Section 2.1(b), as applicable, each duly executed by a Borrower’s Chief Executive Officer or
Chief Financial Officer, and (ii) any other documents Lender may reasonably request. 

  
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 (b) The representations and warranties set forth in this Agreement and in
Section 5 shall be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date.

 (c) Each Borrower shall be in compliance in all material respects with all the terms and provisions set forth
herein and in each other Loan Document on its part to be observed or performed, and at the time of and immediately after such Advance no Event of Default shall have occurred and be continuing. 

(d) Each Advance Request shall be deemed to constitute a representation and warranty by Borrowers on the relevant Advance
Date as to the matters specified in paragraphs (b) and (c) of this Section 4.2 and as to the matters set forth in the Advance Request. 
 4.3 No Default. As of the Effective Date and each Advance Date, (i) no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an
Event of Default and (ii) no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing. 
  

	 	SECTION 5.	REPRESENTATIONS AND WARRANTIES OF BORROWER 

 Each Borrower represents and warrants that: 
 5.1 Corporate Status. Such
Borrower is a corporation duly organized, legally existing and in good standing under the laws of the State of its incorporation, and is duly qualified as a foreign corporation in all jurisdictions in which the nature of its business or location of
its properties require such qualifications and where the failure to be qualified could reasonably be expected to have a Material Adverse Effect. Such Borrower’s present name, former names (if any), locations, place of formation, tax
identification number, organizational identification number and other information are correctly set forth in Exhibit C, as may be updated by such Borrower in a written notice (including any Compliance Certificate) provided to Lender after the
Effective Date. 
 5.2 Collateral. Such Borrower owns the Collateral free of all Liens, except for Permitted Liens. Such
Borrower has the power and authority to grant to Lender a Lien in the Collateral as security for the Secured Obligations. 
 5.3
Consents; Conflicts. Such Borrower’s execution, delivery and performance of the this Agreement and all other Loan Documents, and Borrower’s execution of the Warrant, (i) have been duly authorized by all necessary corporate
action of Borrower, (ii) will not result in the creation or imposition of any Lien upon the Collateral, other than Permitted Liens and the Liens created by this Agreement and the other Loan Documents, (iii) do not violate any provisions of
Borrower’s Certificate or Articles of Incorporation (as applicable), bylaws, or any material law, regulation, order, injunction, judgment, decree or writ to which Borrower is subject and (iv) except as described on Schedule 5.3, do not
violate any Material Agreement or require the consent or approval of any other Person. The individual or individuals executing the Loan Documents and the Warrant are duly authorized to do so. 

5.4 Material Adverse Effect. No event that has had or would reasonably be expected to have a Material Adverse Effect has occurred
and is continuing. Such Borrower is not aware of any event likely to occur that is reasonably expected to result in a Material Adverse Effect. 

  
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 5.5 Actions Before Governmental Authorities. Except as described on Schedule 5.5,
there are no actions, suits or proceedings at law or in equity or by or before any governmental authority now pending or, to the knowledge of such Borrower, threatened in writing against or affecting such Borrower or its property that, if adversely
determined would reasonably be expected to have a Material Adverse Effect. 
 5.6 Laws. Such Borrower is not in violation
of any law, rule or regulation, or in default with respect to any judgment, writ, injunction or decree of any governmental authority, where such violation or default is reasonably expected to result in a Material Adverse Effect. Such Borrower is not
in default in any manner under any provision of any agreement or instrument evidencing Indebtedness, or any other material agreement to which it is a party or by which it is bound, and which default would reasonably be expected to have a Material
Adverse Effect. 
 5.7 Information Correct and Current. No information, report, Advance Request, financial statement,
exhibit or schedule furnished, by or on behalf of a Borrower to Lender in connection with any Loan Document or included therein or delivered pursuant thereto contained, contains or will contain any material misstatement of fact or omitted, omits or
will omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were, are or will be made, not misleading at the time such statement was made or deemed made. Additionally, any and all
financial or business projections provided by such Borrower to Lender shall be (i) provided in good faith and based on the most current data and information available to Borrower, and (ii) the most current of such projections provided to
such Borrower’s Board of Directors. 
 5.8 Taxes. Except as described on Schedule 5.8, such Borrower has
(a) filed all federal, state and local tax returns that it is required to file, (b) duly paid or fully reserved for all material taxes or installments thereof (including any interest or penalties) as and when due, which have or may become
due pursuant to such returns, and (c) paid or fully reserved for any material tax assessment received by Borrower for the three (3) years preceding the Effective Date, if any (including any taxes being contested in good faith and by
appropriate proceedings). 
 5.9 Intellectual Property Claims. Such Borrower is the sole owner of, or otherwise has the
right to use, the Intellectual Property. Except as described on Schedule 5.9, (i) to the best of Borrower’s knowledge, each of the material issued Copyrights, Trademarks and Patents is valid and enforceable, (ii) no material part of
the Intellectual Property has been judged invalid or unenforceable, in whole or in part, and (iii) no claim has been made to such Borrower that any material part of the Intellectual Property violates the rights of any third party.
Exhibit D is a true, correct and complete list of each of Borrower’s Patents, registered Trademarks, registered Copyrights, and material agreements under which Borrower licenses Intellectual Property from third parties (other than
shrink-wrap or “off the shelf” software licenses), together with application or registration numbers, as applicable, owned by such Borrower or any Subsidiary, in each case as of the Effective Date. Such Borrower is not in material breach
of, nor has such Borrower failed to perform any material obligations under, any of the foregoing contracts, licenses or agreements and, to such Borrower’s knowledge, no third party to any such contract, license or agreement is in material
breach thereof or has failed to perform any material obligations thereunder. 
 5.10 Intellectual Property. Except as
described on Schedule 5.10, such Borrower has, or in the case of any proposed business, will have, all material rights with respect to Intellectual Property necessary in the operation or conduct of such Borrower’s business as currently
conducted and proposed to be conducted by such Borrower. Without limiting the generality of the foregoing, and in the case of Licenses, except for restrictions that are unenforceable under Division 9 of the UCC, for “off the shelf”

  
 15 

 
software licenses, and except as described on Schedule 5.10, Borrower has the right, to the extent required to operate such Borrower’s business, to freely transfer, license or assign
Intellectual Property without condition, restriction or payment of any kind (other than license payments in the ordinary course of business) to any third party, and Borrower owns or has the right to use, pursuant to valid licenses, all software
development tools, library functions, compilers and all other third-party software and other items that are material to the Borrower’s business and used in the design, development, promotion, sale, license, manufacture, import, export, use or
distribution of Borrower Products. 
 5.11 Borrower Products. Except as described on Schedule 5.11, no Intellectual
Property material to Borrower’s business owned by such Borrower or Borrower Product has been or is subject to any actual or, to the knowledge of such Borrower, threatened litigation, proceeding (including any proceeding in the United States
Patent and Trademark Office or any corresponding foreign office or agency) or outstanding decree, order, judgment, settlement agreement or stipulation that restricts in any material manner such Borrower’s use, transfer or licensing thereof or
that may materially affect the validity, use or enforceability thereof. There is no decree, order, judgment, agreement, stipulation, arbitral award or other provision entered into in connection with any litigation or proceeding that obligates such
Borrower to grant licenses or ownership interest in any future Intellectual Property related to the operation or conduct of the business of Borrower or Borrower Products. Such Borrower has not received any written notice or claim, or, to the
knowledge of Borrower, oral notice or claim, challenging or questioning such Borrower’s ownership in any material Intellectual Property (or written notice of any claim challenging or questioning the ownership in any licensed Intellectual
Property of the owner thereof) or suggesting that any third party has any claim of legal or beneficial ownership with respect thereto nor, to such Borrower’s knowledge, is there a reasonable basis for any such claim. Neither such
Borrower’s use of its Intellectual Property that is material to Borrower’s business nor the production and sale of Borrower Products that is material to Borrower’s business infringes the Intellectual Property or other rights of others
in any material manner. 
 5.12 Financial Accounts. Exhibit E, as may be updated by the Borrowers in a written
notice provided to Lender after the Effective Date, is a true, correct and complete list of (a) all banks and other financial institutions at which a Borrower or any Subsidiary maintains Deposit Accounts and (b) all institutions at which
such Borrower or any Subsidiary maintains an account holding Investment Property, and such exhibit correctly identifies the name, address and telephone number of each bank or other institution, the name in which the account is held, a description of
the purpose of the account, and the complete account number therefor. 
 5.13 Employee Loans. Except as permitted by
Section 7.8, such Borrower has no outstanding loans to any employee, officer or director of such Borrower nor has such Borrower guaranteed the payment of any loan made to an employee, officer or director of such Borrower by a third party.

 5.14 Capitalization and Subsidiaries. Each Borrower’s capitalization as of the Effective Date is set forth on
Schedule 5.14 annexed hereto. No Borrower owns any stock, partnership interest or other securities of any Person, except for Permitted Investments. Attached as Schedule 5.14, as may be updated by a Borrower in a written notice provided after the
Effective Date, is a true, correct and complete list of each Subsidiary 
  

	SECTION 6.	INSURANCE; INDEMNIFICATION 

 6.1
Coverage. Each Borrower shall cause to be carried and maintained commercial general liability insurance, on an occurrence form, against risks customarily insured against in such 

  
 16 

 
Borrower’s line of business. Such risks shall include the risks of bodily injury, including death, property damage, personal injury, advertising injury, and contractual liability per the
terms of the indemnification agreement found in Section 6.3. Each Borrower shall maintain a minimum of $2,000,000 of commercial general liability insurance for each occurrence. Each Borrower has and shall maintain a minimum of $2,000,000 of
directors and officers’ insurance for each occurrence and $5,000,000 in the aggregate. So long as there are any Secured Obligations outstanding (other than inchoate indemnity obligations), such Borrower shall also cause to be carried and
maintained insurance upon the Collateral, insuring against all risks of physical loss or damage howsoever caused, in an amount not less than the full replacement cost of the Collateral, provided that such insurance may be subject to standard
exceptions and deductibles. Borrower shall also carry and maintain a fidelity insurance policy in an amount not less than $100,000. 
 6.2 Certificates. Each Borrower shall deliver to Lender certificates of insurance that evidence such Borrower’s compliance with its insurance obligations in Section 6.1 and the
obligations contained in this Section 6.2. Such Borrower’s insurance certificate shall state Lender is an additional insured for commercial general liability, an additional insured and a loss payee for all risk property damage insurance,
subject to the insurer’s approval, a loss payee for fidelity insurance, and a loss payee for property insurance and additional insured for liability insurance for any future insurance that such Borrower may acquire from such insurer. Attached
to the certificates of insurance will be additional insured endorsements for liability and lender’s loss payable endorsements for all risk property damage insurance and fidelity. All certificates of insurance will provide for a minimum of
thirty (30) days advance written notice to Lender of cancellation or any other change adverse to Lender’s interests (except with respect to non-payment, in which case 10 days advance notice is sufficient). Any failure of Lender to
scrutinize such insurance certificates for compliance is not a waiver of any of Lender’s rights, all of which are reserved. 
 6.3 Indemnity. Each Borrower agrees to indemnify and hold Lender and its officers, directors, employees, agents, in-house attorneys, representatives and shareholders (each, an Indemnitee”)
harmless from and against any and all claims, costs, expenses, damages and liabilities (including such claims, costs, expenses, damages and liabilities based on liability in tort, including strict liability in tort), including reasonable
attorneys’ fees and disbursements and other reasonable costs of investigation or defense (including those incurred upon any appeal), that may be instituted or asserted against or incurred by an Indemnitee as the result of credit having been
extended, suspended or terminated under this Agreement and the other Loan Documents or the administration of such credit, or in connection with or arising out of the transactions contemplated hereunder and thereunder, or any actions or failures to
act in connection therewith, or arising out of the disposition or utilization of the Collateral, excluding in all cases claims resulting from the Indemnitee’s gross negligence or willful misconduct, as determined by a final judgment of a court
of competent jurisdiction. In no event shall any Indemnitee be liable on any theory of liability for any special, indirect, consequential or punitive damages. Borrower agrees to pay, and to save Lender harmless from, any and all liabilities with
respect to, or resulting from any delay in paying, any and all excise, sales or other similar taxes (excluding taxes imposed on or measured by the net income of Lender) that may be payable or determined to be payable with respect to any of the
Collateral or this Agreement; provided, however, that (i) with respect to such liabilities imposed originally and independently on Lender, Lender shall notify a Borrower of any such liabilities within 180 days of the initial date Lender had
actual knowledge, or should have had knowledge, of Lender’s direct exposure to such liabilities, and (ii) with respect to all other such liabilities not described in subsection (i), Lender shall notify Borrower of any such liabilities
within 180 days of the initial date Lender has actual knowledge of its direct exposure to such liabilities. 

  
 17 

	SECTION 7.	COVENANTS OF BORROWER 

 Each
Borrower agrees as follows: 
 7.1 Financial Reports. Such Borrower shall furnish the following to Lender: 

(a) As soon as practicable (and in any event within 30 days) after the end of each month, unaudited interim and
year-to-date financial statements as of the end of such month (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related statements of income and cash flows accompanied by a report detailing any material
contingencies (including the commencement of any material litigation by or against such Borrower) or any other occurrence that would reasonably be expected to have a Material Adverse Effect, all certified by such Borrower’s Chief Executive
Officer or Chief Financial Officer to the effect that they have been prepared in accordance with GAAP, except (i) for the absence of footnotes, (ii) that they are subject to normal year end adjustments, and (iii) they do not contain
certain non-cash items that are customarily included in quarterly and annual financial statements; 
 (b) As soon
as practicable (and in any event within 45 days) after the end of each calendar quarter, unaudited interim and year-to-date financial statements as of the end of such calendar quarter (prepared on a consolidated and consolidating basis, if
applicable), including balance sheet and related statements of income and cash flows accompanied by a report detailing any material contingencies (including the commencement of any material litigation by or against such Borrower) or any other
occurrence that would reasonably be expected to have a Material Adverse Effect, certified by such Borrower’s Chief Executive Officer or Chief Financial Officer to the effect that they have been prepared in accordance with GAAP, except
(i) for the absence of footnotes, and (ii) that they are subject to normal year end adjustments; 
 (c)
as soon as practicable, and in any event within 180 days (90 days if Borrower is required to file reports under the Securities Exchange Act of 1934, as amended) after the end of each fiscal year, unqualified audited financial statements as of the
end of such year (prepared on a consolidated and consolidating basis, if applicable), including balance sheet and related statements of income and cash flows, and setting forth in comparative form the corresponding figures for the preceding fiscal
year, certified by a firm of independent certified public accountants selected by Borrower and reasonably acceptable to Lender, accompanied by any management report from such accountants; 

(d) in connection with the delivery of the financial statements under clauses 7.1(a) and 7.1(b), as applicable, a
Compliance Certificate in the form of Exhibit F; 
 (e) promptly after the sending or filing thereof, as the case
may be, copies of any proxy statements, financial statements or reports that Borrower has made available to holders of its Preferred Stock (with respect to such Person’s role as a Preferred Stockholder) and copies of any regular, periodic and
special reports or registration statements that Borrower files with the Securities and Exchange Commission or any governmental authority that may be substituted therefor, or any national securities exchange; 

(f) before an Initial Public Offering and promptly upon written request by Lender, all notices, minutes, consents and
other materials that Borrower provides to its directors in connection with meetings of the Board of Directors other than any communications or materials subject to an attorney-client privilege; and 

(g) financial and business projections, as well as budgets, operating plans and other financial information reasonably
requested by Lender. 

  
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 The executed Compliance Certificate may be sent via facsimile to Lender at
(650) 473-9194 or via e-mail to jbourque@herculestech.com. All Financial Statements required to be delivered pursuant to clauses (a), (b) and (c) shall be sent via e-mail to financialstatements@herculestech.com with a copy to
jbourque@herculestech.com provided, that if e-mail is not available or sending such Financial Statements via e-mail is not possible, they shall be sent via facsimile to Lender at: (866) 468-8916, attention Chief Credit Officer. 

7.2 Management Rights. Each Borrower shall permit any representative that Lender authorizes, including its attorneys and
accountants, to inspect the Collateral and examine and make copies and abstracts of the books of account and records of such Borrower at reasonable times and upon reasonable notice during normal business hours (but in any event no more than twice in
any 12-month period unless an Event of Default has occurred and is continuing). In addition, any such representative shall have the right to meet with management and officers of such Borrower to discuss such books of account and records. In
addition, Lender shall be entitled at reasonable times and intervals to consult with and advise the management and officers of such Borrower concerning significant business issues affecting Borrower. Such consultations shall not unreasonably
interfere with Borrower’s business operations. The parties intend that the rights granted Lender shall constitute “management rights” within the meaning of 29 C.F.R Section 2510.3-101(d)(3)(ii), but that any advice,
recommendations or participation by Lender with respect to any business issues shall not be deemed to give Lender, nor be deemed an exercise by Lender of, control over Borrower’s management or policies. 

7.3 Further Assurances. Each Borrower shall from time to time, upon the request of Lender, execute, deliver and file, alone or
with Lender, any financing statements, security agreements, collateral assignments, notices, control agreements, or other necessary documents to perfect or give the highest priority to Lender’s Lien on the Collateral (subject to Permitted
Liens). Each Borrower shall from time to time procure any instruments or documents as may be requested by Lender, and take all further action that may be necessary or desirable, or that Lender may reasonably request, to perfect and protect the Liens
granted hereby and thereby. In addition, and for such purposes only, such Borrower authorizes Lender to execute and deliver on behalf of Borrower and to file such financing statements, collateral assignments, notices, control agreements, security
agreements and other documents without the signature of Borrower either in Lender’s name or in the name of Lender as agent and attorney-in-fact for Borrower. Borrower shall, in its reasonable business judgment, protect and defend
Borrower’s title to the Collateral and Lender’s Lien thereon against all Persons claiming any interest adverse to Borrower or Lender other than Permitted Liens. Upon Lender’s reasonable request from time to time, a Borrower shall
deliver to Lender a promissory note or promissory notes to evidence the Secured Obligations. 
 7.4 Amendments to Other
Agreements. No Borrower may amend, modify or waive any provision of (a) any of Borrower’s organizational documents, unless (i) such amendment, modification or waiver is completed in accordance with the terms of the RUSNANO
Investment Agreement and (ii) the net effect of such amendment, modification or waiver is not adverse in any material respect to Borrower or the rights of Lender under the Loan Documents (it being agreed for the avoidance of doubt that any
amendment or modification to the organization documents of Borrower to permit the issuance of equity on terms and conditions that are not prohibited under this Agreement shall not be considered adverse to Borrower or Lender), or (b) any
document relating to any of the Subordinated Indebtedness, in each case, without the prior written consent of Lender. For clarity, this Section does not restrict conversion of any Subordinated Indebtedness into equity, or any amendment to the
organization documents of Borrower to increase the number of authorized shares of Borrower, in each case in connection with the Initial Public Offering. 

  
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 7.5 Indebtedness. Such Borrower shall not create, incur, assume, guarantee or be or
remain liable with respect to any Indebtedness, or permit any Subsidiary so to do, other than Permitted Indebtedness, or, other than in connection with Indebtedness permitted under clause (vii) of the definition of Permitted Indebtedness,
prepay any Indebtedness or take any actions which impose on such Borrower an obligation to prepay any Indebtedness, except for the conversion of Indebtedness into equity securities and the payment of cash in lieu of fractional shares in connection
with such conversion. 
 7.6 Collateral. Such Borrower shall at all times keep the Collateral and all other property and
assets used in such Borrower’s business or in which such Borrower now or hereafter holds any interest free and clear from any Liens whatsoever (except for Permitted Liens), and shall give Lender prompt written notice of any legal process that
is reasonably likely to result in damages or expenses in excess of $250,000 affecting the Collateral, such other property and assets, or any Liens thereon (other than Permitted Liens). Such Borrower shall cause its Subsidiaries to protect and defend
such Subsidiary’s title to its assets from and against all Persons claiming any interest adverse to such Subsidiary, and such Borrower shall cause its Subsidiaries at all times to keep such Subsidiary’s property and assets free and clear
from any Liens whatsoever (except for Permitted Liens), and shall give Lender prompt written notice of any legal process that is reasonably likely to result in damages or expenses in excess of $250,000 affecting such Subsidiary’s assets. Such
Borrower shall not enter into any agreement (other than the Permitted Licenses and Permitted Transfers) in which a negative pledge in the Intellectual Property is granted to any Person other than Lender (except in connection with licenses of
Intellectual Property otherwise permitted hereunder). 
 7.7 Investments. Such Borrower shall not directly or indirectly
acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries so to do, other than Permitted Investments. 
 7.8 Restricted Payments. Such Borrower shall not, and shall not allow any Subsidiary to, (a) repurchase or redeem any class of stock or other equity interest other than pursuant to employee,
director or consultant repurchase plans or other similar agreements, provided, however, in each case the repurchase or redemption price does not exceed the original consideration paid for such stock or equity interest, and in any case does not
exceed $200,000 in any fiscal year for all such repurchases or redemptions, or (b) declare or pay any dividends or make a distribution on any class of stock or other equity interest, except that a Subsidiary may pay dividends or make
distributions to Borrower, or (c) lend money to any employees, officers or directors or guarantee the payment of any such loans granted by a third party in excess of $100,000 in the aggregate principal amount outstanding at any time, in
addition to loans to officers or directors outstanding as of the Effective Date that are set forth on Schedule 7.8, or (d) waive, release or forgive any indebtedness owed by any employees, officers or directors in excess of $100,000 in the
aggregate, or (e) permit any Subsidiary to be a party to, or bound by, any agreement that restricts such Subsidiary from paying dividends or otherwise distributing property to Borrower; provided clause (e) shall not apply to the Bind
Russia so long as such dividend payments or distribution of property is permitted by the RUSNANO Investment Agreement. 
 7.9
Transfers. Except for Permitted Transfers, such Borrower shall not voluntarily or involuntarily transfer, sell, lease, license, lend or in any other manner convey any equitable, beneficial or legal interest in any material portion of their
assets. 

  
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 7.10 Mergers or Acquisitions. Such Borrower shall not merge or consolidate, or permit
any of its Subsidiaries to merge or consolidate, with or into any other business organization (other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or acquire, or permit any of its Subsidiaries to acquire,
all or substantially all of the capital stock or property of another Person (other than by one Subsidiary of another). 
 7.11
Taxes. Such Borrower and its Subsidiaries shall pay when due all material taxes, fees or other charges of any nature whatsoever (together with any related interest or penalties) now or hereafter imposed or assessed against such Borrower,
Lender or the Collateral or upon Borrower’s ownership, possession, use, operation or disposition thereof or upon Borrower’s rents, receipts or earnings arising therefrom. Borrower shall file on or before the due date therefor all personal
property tax returns in respect of the Collateral. Notwithstanding the foregoing, Borrower may contest, in good faith and by appropriate proceedings, taxes for which Borrower maintains adequate reserves therefor in accordance with GAAP. 

7.12 Corporate Changes. Neither Borrower nor any Subsidiary shall change its corporate name, legal form or jurisdiction of
formation without 10 days’ prior written notice to Lender (except as permitted under the RUSNANO Investment Agreement). Neither Borrower nor any Subsidiary shall suffer a Change in Control. Neither Borrower nor any Subsidiary based in the
United States shall relocate its chief executive office or its principal place of business unless: (i) it has provided prior written notice to Lender; and (ii) such relocation shall be within the continental United States. Neither Borrower
nor any Subsidiary shall relocate any item of Collateral (other than (w) Permitted Transfers, (x) sales of Inventory in the ordinary course of business, (y) relocations of Equipment having an aggregate value of up to $150,000 in any
fiscal year, (z) relocations of Collateral from a location described on Exhibit C to another location described on Exhibit C) unless (i) it has provided prompt written notice to Lender, (ii) such relocation is within the continental
United States if the original location of the Collateral being relocated is within the United States and, (iii) if such relocation is to a third party bailee, and involves amounts in excess of $20,000, it has delivered a bailee agreement in
form and substance reasonably acceptable to Lender. 
 7.13 Deposit Accounts. Neither Borrower nor any Subsidiary (other
than MSC Subsidiary) shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Lender has an Account Control Agreement or as otherwise agrees in writing by Lender. The provisions of the previous
sentence shall not apply to (a) account number 1894064896 at Comerica Bank with a balance not to exceed $950,000 for the purpose of securing reimbursement obligations incurred in connection with Letters of Credit and credit cards issued by
Comerica Bank as permitted under this Agreement, and (b) any accounts opened in Russia by Borrower and Bind Russia established in connection with the RUSNANO Investment Agreement. 

7.14 Subsidiaries. Such Borrower shall notify Lender of each Subsidiary formed subsequent to the Effective Date and, within 15
days of formation, shall cause any such Subsidiary organized under the laws of any State within the United States to execute and deliver to Lender a Joinder Agreement. 
 7.15 Compliance. Such Borrower shall not, and Borrower shall not permit any of its Subsidiaries to, fail to comply in any material respect with, or violate in any material respect, any law or
regulation applicable to it. 
 7.16 SBA. Lender has received a license from the U.S. Small Business Administration
(“SBA”) to extend loans as a small business investment company (“SBIC”) pursuant to the Small 

  
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Business Investment Act of 1958, as amended, and the associated regulations (collectively, the “SBIC Act”). Portions of the loan to Borrower will be made under the SBA license and the
SBIC Act. Addendum 1 to this Agreement outlines various responsibilities of Lender and Borrower associated with an SBA loan, and such Addendum 1 is hereby incorporated in this Agreement. 

7.17 MSC Subsidiary. Lender hereby (a) releases MSC Subsidiary from all obligations under and in connection with that certain
Guaranty dated as of January 10, 2011 (as amended, restated or modified from time to time) by MSC Subsidiary in favor of Lender in connection with the Original Loan Agreement and (b) agrees that such Guaranty is of no further force or
effect. Lender agrees that MSC Subsidiary is an express third-party beneficiary of the preceding sentence and can enforce its rights as such beneficiary to the fullest extent of the law. Borrowers may make Investments in MSC Subsidiary as long as
Borrowers maintain Liquidity of at least the sum of (x) $25,000,000 minus (y) any payments of principal made on the Advances (the “Threshold Amount”). If Borrowers’ Liquidity is less than the Threshold Amount on any date (a
“Deficiency Date”), Borrowers shall (a) immediately, upon acquiring knowledge thereof, notify Lender of such deficiency in writing and (b) as soon as commercially practicable, deposit into Deposit Accounts and/or accounts holding
Investment Property that are subject to an Account Control Agreement such amount as is necessary to cause Borrowers’ Liquidity to be equal at least to the Threshold Amount. Borrowers shall not permit MSC Subsidiary to hold any investments at
any time that Borrowers’ Liquidity is less than the Threshold Amount. At any time the application for classification of MSC Subsidiary as a “security corporation” under Massachusetts General Laws Ch. 63, Section 38B(a), as
amended, supplemented and/or modified, is denied or such classification is revoked (and such determination is not subject to appeal and all appeal periods have run), Borrowers shall, as soon as commercially practicable, dissolve MSC Subsidiary or
merge MSC Subsidiary with or into a Borrower. 
  

	SECTION 8.	[Reserved.] 

  

	SECTION 9.	EVENTS OF DEFAULT 

 The
occurrence of any one or more of the following events shall be an Event of Default: 
 9.1 Payments. A Borrower fails to
pay any amount due under this Agreement or any of the other Loan Documents on the due date, and in each case such default continues for more than 3 business days after the due date thereof; or 

9.2 Covenants. A Borrower breaches or defaults in the performance of any covenant or Secured Obligation under this Agreement or
any of the other Loan Documents, and (a) with respect to a default under any covenant under this Agreement (other than under Sections 6, 7.5, 7.6, 7.7, 7.8 or 7.9) such default continues for more than ten (10) business days after the
earlier of the date on which (i) Lender has given notice of such default to a Borrower and (ii) a Borrower has actual knowledge of such default or (b) with respect to a default under any of Sections 6, 7.5, 7.6, 7.7, 7.8 or 7.9, the
occurrence of such default; or 
 9.3 Material Adverse Effect. A circumstance has occurred that would reasonably be
expected to have a Material Adverse Effect; or 
 9.4 Other Loan Documents. The occurrence of any default under any Loan
Document or any other agreement between Borrower and Lender and such default continues for more than ten (10) days after the earlier of (a) Lender has given notice of such default to a Borrower, or (b) a Borrower has actual knowledge
of such default; or 

  
 22 

 9.5 Representations. Any representation or warranty made by a Borrower in any Loan
Document or in the Warrant shall have been false or misleading in any material respect when made; or 
 9.6 Insolvency. A
Borrower (A) (i) shall make an assignment for the benefit of creditors; or (ii) shall be unable to pay its debts as they become due, or be unable to pay or perform under the Loan Documents; or (iii) shall file a voluntary
petition in bankruptcy; or (iv) shall file any petition, answer, or document seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or
regulation pertinent to such circumstances; or (v) shall seek or consent to or acquiesce in the appointment of any trustee, receiver, or liquidator of a Borrower or of all or any substantial part (i.e., 33-1/3% or more) of the assets or
property of Borrower; or (vi) shall cease operations of its business as its business has normally been conducted for 3 consecutive business days, or terminate substantially all of its employees; or (vii) a Borrower or its directors or
majority shareholders shall take any action initiating any of the foregoing actions described in clauses (i) through (vi); or (B) either (i) forty-five (45) days shall have expired after the commencement of an involuntary action
against a Borrower seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, without such action being dismissed or all orders or proceedings
thereunder affecting the operations or the business of a Borrower being stayed; or (ii) a stay of any such order or proceedings shall thereafter be set aside and the action setting it aside shall not be timely appealed; or (iii) a Borrower
shall file any answer admitting or not contesting the material allegations of a petition filed against Borrower in any such proceedings; or (iv) the court in which such proceedings are pending shall enter a decree or order granting the relief
sought in any such proceedings; or (v) forty-five (45) days shall have expired after the appointment, without the consent or acquiescence of a Borrower, of any trustee, receiver or liquidator of Borrower or of all or any substantial part
of the properties of Borrower without such appointment being vacated, or (C) a Borrower becomes insolvent; or 
 9.7
Attachments; Judgments. Any portion of a Borrower’s assets having a value in excess of $250,000 is attached or seized, or a levy is filed against any such assets, or a judgment or judgments is/are entered for the payment of money (which
judgment is not insured and paid by such insurance within 15 days of such judgment being entered), individually or in the aggregate, of at least $500,000, or a Borrower is enjoined or in any way prevented by court order from conducting any material
part of its business; or 
 9.8 Other Obligations. The occurrence of any default under any agreement or obligation of a
Borrower involving any Indebtedness in excess of $500,000, or the occurrence of any default under any agreement or obligation of Borrower that could reasonably be expected to have a Material Adverse Effect; or 

9.9 Guaranty; Subordination Agreement. Any of the circumstances set forth in Section 9.6 shall exist in respect of any
Guarantor, or if any Guarantor breaches any of its obligations under its respective guaranty (and the expiration of any cure period under this Section 9 applicable to a comparable breach), or if any provision of such guaranty shall fail to be
valid and binding on, or enforceable against, such Guarantor, or if any subordination provision set forth in the Subordination Agreement shall, in whole or in part, terminate or otherwise fail or cease to be valid and binding on, or enforceable
against, any agent for or holder of the Subordinated Indebtedness (or such person shall so state in writing). 
  

	SECTION 10.	REMEDIES 

 10.1 General.
Upon and during the continuance of any one or more Events of Default, (i) Lender may, at its option, accelerate and demand payment of all or any part of the Secured Obligations 

  
 23 

 
together with a Prepayment Charge and declare them to be immediately due and payable (provided, that upon the occurrence of an Event of Default of the type described in Section 9.6, all of
the Secured Obligations shall automatically be accelerated and made due and payable, in each case without any further notice or act), and (ii) Lender may notify any of a Borrower’s account debtors to make payment directly to Lender,
compromise the amount of any such account on a Borrower’s behalf and endorse Lender’s name without recourse on any such payment for deposit directly to Lender’s account. Lender may exercise all rights and remedies with respect to the
Collateral under the Loan Documents or otherwise available to it under the UCC and other applicable law, including the right to release, hold, sell, lease, liquidate, collect, realize upon, or otherwise dispose of all or any part of the Collateral
and the right to occupy, utilize, process and commingle the Collateral. All Lender’s rights and remedies shall be cumulative and not exclusive. 
 10.2 Collection; Foreclosure. Upon the occurrence and during the continuance of any Event of Default, Lender may, at any time or from time to time, apply, collect, liquidate, sell in one or more
sales, lease or otherwise dispose of, any or all of the Collateral, in its then condition or following any commercially reasonable preparation or processing, in such order as Lender may elect. Any such sale may be made either at public or private
sale at its place of business or elsewhere. Each Borrower agrees that any such public or private sale may occur upon ten (10) calendar days’ prior written notice to Borrower. Lender may require Borrower to assemble the Collateral and make
it available to Lender at a place designated by Lender that is reasonably convenient to Lender and Borrower. The proceeds of any sale, disposition or other realization upon all or any part of the Collateral shall be applied by Lender in the
following order of priorities: 
 First, to Lender in an amount sufficient to pay in full Lender’s costs and
professionals’ and advisors’ fees and expenses; 
 Second, to Lender in an amount equal to the then unpaid amount of
the Secured Obligations (including principal, interest, and the Default Rate interest), in such order and priority as Lender may choose in its sole discretion; and 
 Finally, after the full and final payment in Cash of all of the Secured Obligations (other than inchoate indemnity obligations), to any creditor holding a junior Lien on the Collateral, or to a Borrower
or its representatives or as a court of competent jurisdiction may direct. 
 Lender shall be deemed to have acted reasonably in the custody,
preservation and disposition of any of the Collateral if it complies with the obligations of a secured party under the UCC. 

10.3 No Waiver. Lender shall be under no obligation to marshal any of the Collateral for the benefit of Borrower or any other
Person, and each Borrower waives all rights, if any, to require Lender to marshal any Collateral. 
 10.4 Cumulative
Remedies. The rights, powers and remedies of Lender hereunder shall be in addition to all rights, powers and remedies given by statute or rule of law and are cumulative. The exercise of any one or more of the rights, powers and remedies provided
herein shall not be construed as a waiver of or election of remedies with respect to any other rights, powers and remedies of Lender. 
  

	SECTION 11.	MISCELLANEOUS 

 11.1
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under such law,
such provision shall be ineffective only to the extent and duration of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 

  
 24 

 11.2 Notice. Except as otherwise provided herein, any notice, demand, request,
consent, approval, declaration, service of process or other communication (including the delivery of Financial Statements) that is required, contemplated, or permitted under the Loan Documents or with respect to the subject matter hereof shall be in
writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the day of transmission by facsimile, electronic mail or hand delivery or delivery by an overnight express service or overnight
mail delivery service; or (ii) the third calendar day after deposit in the United States mails, with proper first class postage prepaid, in each case addressed to the party to be notified as follows: 

 

	 	(a)	If to Lender: 

 HERCULES
TECHNOLOGY III, L.P. 
 Legal Department 
 Attention: Chief Legal Officer and Parag Shah 
 400 Hamilton Avenue, Suite 310

 Palo Alto, CA 94301 
 Facsimile: 650-473-9194 
 Telephone: 650-289-3068 

Email: jbourque@herculestech.com 
  

	 	(b)	If to a Borrower: 

 BIND
THERAPEUTICS, INC. 
 Attention: Chief Financial Officer 

325 Vassar Street 
 Cambridge, MA 02139 
 Facsimile: 617-491-0351 

Telephone: 857-209-2250 
 Email: ahirsch@bindtherapeutics.com 
 With copies to: 

Latham & Watkins LLP 
 Attn: Peter Handrinos 
 John Hancock Tower, 20th Floor 

200 Clarendon Street 
 Boston, MA 02116 
 Facsimile: (617) 948-6001 

Email: Peter.Handrinos@lw.com 
 Latham & Watkins LLP 
 Attn: Haim Zaltzman 

505 Montgomery Street, Suite 2000 
 San Francisco, CA 94111 
 Facsimile: (415) 395-8095 

Email: Haim.Zaltzman@lw.com 

  
 25 

 or to such other address as each party may designate for itself by like notice. Any notice,
demand, request, consent, approval, declaration, service of process or other communication delivered to a party to this Agreement shall be effective notwithstanding the failure to deliver a copy thereof to any Person not a party to this Agreement.

 11.3 Entire Agreement; Amendments. This Agreement and the other Loan Documents constitute the entire agreement and
understanding of the parties hereto in respect of the subject matter hereof and thereof, and supersede and replace in their entirety any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral,
with respect to the subject matter hereof or thereof (including Lender’s revised proposal letter dated November 15, 2010). None of the terms of this Agreement or any of the other Loan Documents may be amended except by an instrument
executed by each of the parties hereto. 
 11.4 No Strict Construction. The parties hereto have participated jointly in
the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 11.5 No Waiver. The
powers conferred upon Lender by this Agreement are solely to protect its rights hereunder and under the other Loan Documents and its interest in the Collateral and shall not impose any duty upon Lender to exercise any such powers. No omission or
delay by Lender at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by a Borrower at any time designated, shall be a waiver of any such right or remedy to which
Lender is entitled, nor shall it in any way affect the right of Lender to enforce such provisions thereafter. 
 11.6
Survival. All agreements, representations and warranties contained in this Agreement and the other Loan Documents or in any document delivered pursuant hereto or thereto shall be for the benefit of Lender and shall survive the execution and
delivery of this Agreement. Section 6.3, Section 8.1, Section 8.3 and any provisions that, by their respective terms are to survive the termination of this Agreement shall survive such termination. 

11.7 Successors and Assigns. The provisions of this Agreement and the other Loan Documents shall inure to the benefit of and be
binding on Borrower and its permitted assigns (if any). No Borrower may assign its obligations under this Agreement or any of the other Loan Documents without Lender’s express prior written consent, and any such attempted assignment shall be
void and of no effect. Lender may assign, transfer, or endorse its rights hereunder and under the other Loan Documents without prior notice to Borrowers, and all of such rights shall inure to the benefit of Lender’s successors and assigns;
provided that as long as no Event of Default exists or is continuing, Lender may not assign, transfer or endorse its rights hereunder or under the Loan Documents to any party that is a direct competitor of Borrower, or a distressed debt or vulture
fund (each such term as defined by Lender). 
 11.8 Governing Law. This Agreement and the other Loan Documents have been
negotiated and delivered to Lender in the State of California, and shall have been accepted by Lender in the State of California. Payment to Lender by a Borrower of the Secured Obligations is due in the State of California. This Agreement and the
other Loan Documents shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

  
 26 

 11.9 Consent to Jurisdiction and Venue. All judicial proceedings (to the extent that
the reference requirement of Section 11.10 is not applicable) arising in or under or related to this Agreement or any of the other Loan Documents may be brought in any state or federal court located in the State of California. By execution and
delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to nonexclusive personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara
County, State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement or
the other Loan Documents. Service of process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 11.2, and shall be
deemed effective and received as set forth in Section 11.2. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other
jurisdiction. 
 11.10 Mutual Waiver of Jury Trial / Judicial Reference. 

(a) Because disputes arising in connection with complex financial transactions are most quickly and economically resolved
by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH BORROWER AND
LENDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY BORROWER AGAINST LENDER OR ITS ASSIGNEE
OR BY LENDER OR ITS ASSIGNEE AGAINST BORROWER. This waiver extends to all such Claims, including Claims that involve Persons other than a Borrower and Lender; Claims that arise out of or are in any way connected to the relationship between a
Borrower and Lender; and any Claims for damages, breach of contract, tort, specific performance, or any equitable or legal relief of any kind, arising out of this Agreement, any other Loan Document. 

(b) If the waiver of jury trial set forth in Section 11.10(a) is ineffective or unenforceable, the parties agree that
all Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties cannot agree, a referee selected by the Presiding
Judge of the Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding. 

(c) In the event Claims are to be resolved by judicial reference, either party may seek from a court identified in
Section 11.9, any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial
reference. 
 11.11 Professional Fees. Each Borrower promises to pay Lender’s fees and expenses necessary to
finalize the loan documentation, including but not limited to reasonable attorneys fees, UCC searches, filing costs, and other miscellaneous expenses. In addition, Borrower promises to pay any and all reasonable attorneys’ and other
professionals’ fees and expenses (including fees and expenses of in-house counsel) incurred by Lender after the Effective Date in connection with or related to: (a) the Loan; (b) the administration, collection, or enforcement of the
Loan; (c) the amendment or modification of the Loan Documents; (d) any waiver, consent, release, or termination under the Loan Documents; (e) the protection, preservation, sale, lease, liquidation, or disposition of Collateral or the
exercise of remedies 

  
 27 

 
with respect to the Collateral; (f) any legal, litigation, administrative, arbitration, or out of court proceeding in connection with or related to Borrower or the Collateral, and any appeal
or review thereof; and (g) any bankruptcy, restructuring, reorganization, assignment for the benefit of creditors, workout, foreclosure, or other action related to Borrower, the Collateral, the Loan Documents, including representing Lender in
any adversary proceeding or contested matter commenced or continued by or on behalf of Borrower’s estate, and any appeal or review thereof. 
 11.12 Publicity. After notice to Borrower and unless otherwise agreed by Lender, Lender may use a Borrower’s name and logo, and include a brief description of the relationship between such
Borrower and Lender, in Lender’s marketing materials provided such use does not violate the Securities Act. 
 11.13
Confidentiality. Lender acknowledges that certain items of Collateral and information provided to Lender by a Borrower are confidential and proprietary information of Borrower, if and to the extent such information either (x) is marked
as confidential by Borrower at the time of disclosure, or (y) should reasonably be understood to be confidential (the “Confidential Information”). Accordingly, Lender agrees that any Confidential Information it may obtain in
connection with this Agreement or any Loan Document shall not be disclosed to any other person or entity in any manner whatsoever, in whole or in part, without the prior written consent of such Borrower, except that Lender may disclose any such
information: (a) to its own directors, officers, employees, accountants, counsel and other professional advisors and to its controlled affiliates if Lender in its sole discretion determines that any such party should have access to such
information in connection with such party’s responsibilities in connection with the Loan or this Agreement and, provided that such recipient of such Confidential Information either (i) agrees to be bound by the confidentiality provisions
of this paragraph or (ii) is otherwise subject to confidentiality restrictions that reasonably protect against the disclosure of Confidential Information; (b) if such information is generally available to the public; (c) if required
or appropriate in any report, statement or testimony submitted to any governmental authority having or claiming to have jurisdiction over Lender; (d) if required or appropriate in response to any summons or subpoena or in connection with any
litigation, to the extent permitted or deemed advisable by Lender’s counsel; (e) to comply with any legal requirement or law applicable to Lender; (f) to the extent reasonably necessary in connection with the exercise of any right or
remedy under any Loan Document, including Lender’s sale, lease, or other disposition of Collateral after default; (g) to any participant or assignee of Lender or any prospective participant or assignee; provided, that such participant or
assignee or prospective participant or assignee agrees in writing to be bound by this Section prior to disclosure; or (h) otherwise with the prior consent of such Borrower; provided, that any disclosure made in violation of this Agreement shall
not affect the obligations of Borrower or any of its affiliates or any guarantor under this Agreement or the other Loan Documents. 
 11.14 Assignment. Each Borrower acknowledges and understands that Lender may, subject to Section 11.7, sell and assign all or part of its interest hereunder and under Loan Documents to any
person or entity (an “Assignee”). After such assignment the term “Lender” as used in the Loan Documents shall mean and include such Assignee and any other Lender, and such Assignee shall be vested with all rights, powers and
remedies of Lender hereunder with respect to the interest so assigned; but with respect to any such interest not so transferred, Lender shall retain all rights, powers and remedies hereby given. No such assignment by Lender shall relieve Borrower of
any of its obligations hereunder. Each Lender agrees that in the event of any transfer by it of any interest under this Agreement, it will endorse thereon a notation as to the portion of the principal of the Secured Obligations that shall have been
paid at the time of such transfer and as to the date to which interest shall have been last paid thereon. 

  
 28 

 11.15 Termination; Revival of Secured Obligations. This Agreement and the Loan
Documents shall terminate on the payment in full in cash of the Secured Obligations (other than inchoate indemnity obligations). Notwithstanding the preceding sentence, this Agreement and the Loan Documents shall remain in full force and effect and
continue to be effective if any petition is filed by or against a Borrower for liquidation or reorganization, if a Borrower becomes insolvent or makes an assignment for the benefit of creditors, if a receiver or trustee is appointed for all or any
significant part of a Borrower’s assets, or if any payment or transfer of Collateral is recovered from Lender. The Loan Documents and the Secured Obligations and Collateral security shall continue to be effective, or shall be revived or
reinstated, as the case may be, if at any time payment and performance of the Secured Obligations or any transfer of Collateral to Lender, or any part thereof is rescinded, avoided or avoidable, reduced in amount, or must otherwise be restored or
returned by, or is recovered from, Lender or by any obligee of the Secured Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment, performance, or transfer of Collateral
had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, avoided, avoidable, restored, returned, or recovered, the Loan Documents and the Secured Obligations shall be deemed, without any further action or
documentation, to have been revived and reinstated except to the extent of the full, final, and indefeasible payment to Lender in Cash. 
 11.16 Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, and by different parties hereto in separate
counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and the same instrument. 
 11.17 No Third Party Beneficiaries. Other than as provided in Section 7.17, no provisions of the Loan Documents are intended, nor will be interpreted, to provide or create any third-party
beneficiary rights or any other rights of any kind in any person other than Lender and Borrower unless specifically provided otherwise herein, and, except as otherwise so provided, all provisions of the Loan Documents will be personal and solely
between the Lender and the Borrower 
 11.18 Surety Waivers. Each Borrower may, acting singly, request
Advances. Each Borrower appoints the other Borrower as agent for the other for all purposes hereunder, including with respect to requesting Advances hereunder. Each Borrower shall be jointly and severally obligated to repay all Advances made
hereunder, regardless of which Borrower actually receives said Advance, as if each Borrower hereunder directly received all Advances. Each Borrower waives (a) any suretyship defenses available to it under the Code or any other applicable
law, including, without limitation, the benefit of California Civil Code Section 2815 permitting revocation as to future transactions and the benefit of California Civil Code Sections 1432, 2809, 2810, 2819, 2839, 2845, 2847, 2848, 2849, 2850,
and 2899 and 3433, and (b) any right to require Lender to: (i) proceed against any Borrower or any other person; (ii) proceed against or exhaust any security; or (iii) pursue any other remedy. Lender may exercise or not
exercise any right or remedy it has against any Borrower or any security it holds (including the right to foreclose by judicial or non-judicial sale) without affecting any Borrower’s liability. Notwithstanding any other provision of this
Agreement or other related document, each Borrower irrevocably waives all rights that it may have at law or in equity (including, without limitation, any law subrogating Borrower to the rights of Lender under this Agreement) to seek contribution,
indemnification or any other form of reimbursement from any other Borrower, or any other Person now or hereafter primarily or secondarily liable for any of the Obligations, for any payment made by Borrower with respect to the Obligations in
connection with this Agreement or otherwise and all rights that it might have to benefit from, or to participate in, any security for the Obligations as a result of any payment made by Borrower with respect to the Obligations in connection with this
Agreement or otherwise. Any agreement providing for indemnification, reimbursement or any other arrangement prohibited under this 

  
 29 

 
Section shall be null and void. If any payment is made to a Borrower in contravention of this Section, such Borrower shall hold such payment in trust for Lender and such payment shall be
promptly delivered to Lender for application to the Obligations, whether matured or unmatured. 
 11.19 Amendment and
Restatement. This Agreement amends, restates and supersedes the Original Loan Agreement, without novation, except for Section 3.1 (other than clause (ii)) of the Original Loan Agreement, and each other provision of the Original Loan
Agreement relating to the grant of a security interest in collateral. 
 (SIGNATURES TO FOLLOW) 

  
 30 

 IN WITNESS WHEREOF, Borrower and Lender have duly executed and delivered this Amended and
Restated Loan and Security Agreement as of the day and year first above written. 
  

			
	BORROWER:
	
	BIND THERAPEUTICS, INC., a Delaware corporation
		
	Signature:	 	 /s/ Andrew Hirsch

		
	Print Name: 	 	 Andrew Hirsch

		
	Title:	 	 Chief Financial Officer

 Accepted in Palo Alto, California: 

 

					
	LENDER:
	
	 HERCULES TECHNOLOGY III, L.P.,
 a Delaware limited partnership

		
	By: 	 	Hercules Technology SBIC Management, LLC, its General Partner
		
	By:	 	Hercules Technology Growth Capital, Inc., its Manager
			
		 	By:	 	 /s/ Ben Bang

		 	Name: 	 	 Ben Bang

		 	Its:	 	 Senior Counsel

 Table of Addenda, Exhibits and Schedules 

 

			
	Addendum 1:	  	SBA Provisions
		
	Exhibit A:	  	Advance Request
		  	Attachment to Advance Request
		
	Exhibit B:	  	Reserved
		
	Exhibit C:	  	Name, Locations, and Other Information for Borrower
		
	Exhibit D:	  	Borrower’s Patents, Trademarks, Copyrights and Licenses
		
	Exhibit E:	  	Borrower’s Deposit Accounts and Investment Accounts
		
	Exhibit F:	  	Compliance Certificate
		
	Exhibit G:	  	Joinder Agreement
		
	Exhibit H:	  	ACH Debit Authorization Agreement
		
	Schedule 1	  	Subsidiaries
	Schedule 1A	  	Existing Permitted Indebtedness
	Schedule 1B	  	Existing Permitted Investments
	Schedule 1C	  	Existing Permitted Liens
	Schedule 5.3	  	Consents, Etc.
	Schedule 5.5	  	Actions Before Governmental Authorities
	Schedule 5.8	  	Tax Matters
	Schedule 5.9	  	Intellectual Property Claims
	Schedule 5.10	  	Intellectual Property
	Schedule 5.11	  	Borrower Products
	Schedule 5.14	  	Capitalization
	Schedule 7.8	  	Officer and Director Loans

 ADDENDUM 1 to AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 

(a) Borrower’s Business. For purposes of this Addendum 1, Borrower shall be deemed to include its “affiliates” as defined in
Title 13 Code of Federal Regulations Section 121.103. Borrower represents and warrants to Lender (as of the Closing Date and for a period of one year thereafter) and covenants to Lender as follows: 

 

	 	1.	Size Status. Borrower does not have in excess of 500 employees as of the Effective Date; 

 

	 	2.	No Relender. Borrower’s primary business activity does not involve, directly or indirectly, providing funds to others, purchasing debt obligations, factoring,
or long-term leasing of equipment with no provision for maintenance or repair; 

  

	 	3.	No Passive Business. Borrower is engaged in a regular and continuous business operation (excluding the mere receipt of payments such as dividends, rents, lease
payments, or royalties). Borrower’s employees are carrying on the majority of day to day operations. Borrower will not pass through substantially all of the proceeds of the Loan to another entity; 

 

	 	4.	No Real Estate Business. Borrower is not classified under Major Group 65 (Real Estate) or Industry No. 1531 (Operative Builders) of the SIC Manual. The
proceeds of the Loan will not be used to acquire or refinance real property unless Borrower (x) is acquiring an existing property and will use at least 51 percent of the usable square footage for its business purposes; (y) is building or
renovating a building and will use at least 67 percent of the usable square footage for its business purposes; or (z) occupies the subject property and uses at least 67 percent of the usable square footage for its business purposes.

  

	 	5.	No Project Finance. Borrower’s assets are not intended to be reduced or consumed, generally without replacement, as the life of its business progresses, and the
nature of Borrower’s business does not require that a stream of cash payments be made to the business’s financing sources, on a basis associated with the continuing sale of assets (e.g., real estate development projects and oil and gas
wells). The primary purpose of the Loan is not to fund production of a single item or defined limited number of items, generally over a defined production period, where such production will constitute the majority of the activities of Borrower
(e.g., motion pictures and electric generating plants). 

  

	 	6.	No Farm Land Purchases. Borrower will not use the proceeds of the Loan to acquire farm land which is or is intended to be used for agricultural or forestry purposes,
such as the production of food, fiber, or wood, or is so taxed or zoned. 

  

	 	7.	No Foreign Investment. The proceeds of the Loan will not be used substantially for a foreign operation. At the time of the Loan, Borrower will not have more
than 49 percent of its employees or tangible assets located outside the United States. The representation in this subsection (7) is made only as of the date hereof and shall not continue for one year as contemplated in the first sentence
of this Section 1. 

 (b) Small Business Administration Documentation. Lender acknowledges that Borrower
completed, executed and delivered to Lender SBA Forms 480, 652 and 1031 (Parts A and B) together with a business plan showing Borrower’s financial projections (including balance sheets and income and cash flows statements) for the period
described therein and a written statement (whether included in the purchase agreement or pursuant to a separate statement) from Lender regarding its intended use of proceeds from 

 
the sale of securities to Lender (the “Use of Proceeds Statement”). Borrower represents and warrants to Lender that the information regarding Borrower and its affiliates set forth
in the SBA Form 480, Form 652 and Form 1031 and the Use of Proceeds Statement delivered as of the Original Closing Date is accurate and complete. 
 (c) Inspection. The following covenants contained in this Section (c) are intended to supplement and not to restrict the related provisions of the Loan
Documents. Subject to the preceding sentence, Borrower will permit, for so long as Lender holds any debt or equity securities of Borrower, Lender or its representative, at Lender’ expense, and examiners of the SBA to visit and inspect the
properties and assets of Borrower, to examine its books of account and records, and to discuss Borrower’s affairs, finances and accounts with Borrower’s officers, senior management and accountants, all at such reasonable times as may be
requested by Lender or the SBA. 
 (d) Annual Assessment. Promptly after the end of each calendar year (but in any event
prior to February 28 of each year) and at such other times as may be reasonably requested by Lender, Borrower will deliver to Lender a written assessment of the economic impact of Lender’ investment in Borrower, specifying the full-time
equivalent jobs created or retained in connection with the investment, the impact of the investment on the businesses of Borrower in terms of expanded revenue and taxes, other economic benefits resulting from the investment (such as technology
development or commercialization, minority business development, or expansion of exports) and such other information as may be required regarding Borrower in connection with the filing of Lender’s SBA Form 468. Lender will assist Borrower
with preparing such assessment. In addition to any other rights granted hereunder, Borrower will grant Lender and the SBA access to Borrower’s books and records for the purpose of verifying the use of such proceeds. Borrower also will
furnish or cause to be furnished to Lender such other information regarding the business, affairs and condition of Borrower as Lender may from time to time reasonably request. 
 (e) Use of Proceeds. Borrower will use the proceeds from the Loan only for general working capital purposes. Borrower will deliver to Lender from time to time promptly following Lender’s
request, a written report, certified as correct by Borrower’s Chief Financial Officer, verifying the purposes and amounts for which proceeds from the Loan have been disbursed. Borrower will supply to Lender such additional information and
documents as Lender reasonably requests with respect to its use of proceeds and will permit Lender and the SBA to have access to any and all Borrower records and information and personnel as Lender deems necessary to verify how such proceeds have
been or are being used, and to assure that the proceeds have been used for the purposes specified in this Section 7.16. 
 (f)
Activities and Proceeds. Neither Borrower nor any of its affiliates (if any) will engage in any activities or use directly or indirectly the proceeds from the Loan for any purpose for which a small business investment company is prohibited
from providing funds by the SBIC Act, including 13 C.F.R. §107.720. Without obtaining the prior written approval of Lender, Borrower will not change within 1 year of the date hereof, Borrower’s current business activity to a
business activity which a licensee under the SBIC Act is prohibited from providing funds by the SBIC Act. 
 (g) Redemption Provisions.
Notwithstanding any provision to the contrary contained in the Certificate of Incorporation of Borrower, as amended from time to time (the “Charter”), if, pursuant to the redemption provisions contained in the Charter, Lender is
entitled to a redemption of its Warrant, such redemption (in the case of Lender) will be at a price equal to the redemption price set forth in the Charter (the “Existing Redemption Price”). If, however, Lender delivers written notice to
Borrower that the then current regulations promulgated under the SBIC Act prohibit payment of the Existing Redemption Price in the case of an SBIC (or, if applied, the Existing Redemption Price would cause the Series C-1 Preferred Stock to lose its
classification as an “equity security” and Lender has determined that such classification is unadvisable), the amount Lender will be entitled to receive shall be the greater of (i) fair market value

 
of the securities being redeemed taking into account the rights and preferences of such securities plus any costs and expenses of the Lender incurred in making or maintaining the Warrant, and
(ii) the Existing Redemption Price where the amount of accrued but unpaid dividends payable to the Lender is limited to Borrower’s earnings plus any costs and expenses of the Lender incurred in making or maintaining the Warrant; provided,
however, the amount calculated in subsections (i) or (ii) above shall not exceed the Existing Redemption Price. 
 (h) Compliance
and Resolution. Borrower agrees that a failure to comply with Borrower’s obligations under this Addendum, or any other set of facts or circumstances where it has been asserted by any governmental regulatory agency (or Lender believes
that there is a substantial risk of such assertion) that Lender and its affiliates are not entitled to hold, or exercise any significant right with respect to, any securities issued to Lender by Borrower, will, subject to the provisions in the
remainder of this clause (i), constitute a breach of the obligations of Borrower under the financing agreements between Borrower and Lender. In the event of (i) a failure to comply with Borrower’s obligations under this Addendum; or
(ii) an assertion by any governmental regulatory agency (or Lender believes that there is a substantial risk of such assertion) of a failure to comply with Borrower’s obligations under this Addendum, then (A) Lender and Borrower will
meet and resolve any such issue in good faith to the satisfaction of Borrower, Lender, and any governmental regulatory agency, and (B) upon request of Lender, Borrower will cooperate and assist with any assignment of the financing agreements
from Hercules Technology III, L.P. to Hercules Technology Growth Capital, Inc. (the “Assignment Remedy”). Notwithstanding anything to the contrary in this Agreement, pending the completion of such resolution meeting pursuant to clause
(B) above, no default or Event of Default shall have, or be deemed to have, occurred, provided that if such resolution meeting does not result in a cure or waiver of any such failure to comply, the Assignment Remedy shall be effectuated and,
for clarity, no default or Event of Default shall have or be deemed to have occurred. 

 EXHIBIT A 
 ADVANCE REQUEST 
  

							
	To:	  		  	                 , 201  	  	
				
		  	    Hercules Technology III, L.P.	  		  	
		  	    400 Hamilton Avenue, Suite 310	  		  	
		  	    Palo Alto, CA 94301	  		  	
		  	    Facsimile: 650-473-9194	  		  	
		  	    Attn: Parag Shah	  		  	

 BIND THERAPEUTICS, INC., a Delaware corporation (“Borrower”) hereby request from Hercules Technology III, L.P.
(collectively “Lender”) an Advance in the aggregate amount of $             on                  ,
201   (the “Advance Date”) pursuant to the Amended and Restated Loan and Security Agreement between Borrowers and Lender (the “Agreement”). Capitalized words and other terms used but not otherwise defined herein are
used with the same meanings as defined in the Agreement. 
 Please: 

 

							
	(a)	  	 Issue a check payable to a Borrower	  	  
	  	
				
		  	or	  		  	
				
	(b)	  	 Wire Funds to a Borrower’s account	  	  
	  	

  

							
		 	Bank:	 	  
	  	
		 	Address:	 	  
	  	
		 		 	  
	  	
		 	ABA Number:	 	  
	  	
		 	Account Number:    	 	  
	  	
		 	Account Name:	 	  
	  	

 Borrower represents that the conditions precedent to the Advance set forth in the Agreement are satisfied
and shall be satisfied upon the making of such Advance, including but not limited to: (i) that no event that has had or could reasonably be expected to have a Material Adverse Effect has occurred and is continuing; (ii) that the
representations and warranties set forth in the Agreement and in the Warrant are and shall be true and correct in all material respects on and as of the Advance Date with the same effect as though made on and as of such date, except to the extent
such representations and warranties expressly relate to an earlier date; (iii) that Borrower is in compliance in all material respects with all the terms and provisions set forth in each Loan Document on its part to be observed or performed;
and (iv) that as of the Advance Date, no fact or condition exists that would (or would, with the passage of time, the giving of notice, or both) constitute an Event of Default under the Loan Documents. Borrower understands and acknowledge that
Lender has the right to review the financial information supporting this representation and, based upon such review in its reasonable discretion, Lender may decline to fund the requested Advance. 

Borrower hereby represents that Borrower’s corporate status and locations have not changed since the date of the Agreement, except
as otherwise permitted under the Agreement. 

 Borrower agrees to notify Lender promptly before the funding of the Loan if any of the
matters which have been represented above shall not be true and correct on the Borrowing Date and if Lender has received no such notice before the Advance Date then the statements set forth above shall be deemed to have been made and shall be deemed
to be true and correct as of the Advance Date. 
 Executed as of
                 , 201  . 
  

			
	BIND THERAPEUTICS, INC., a Delaware corporation
		
	By:	 	  

		
	Title:	 	  

		
	Name:	 	  

 EXHIBIT B 
 [RESERVED] 

 EXHIBIT C 
 NAME, LOCATIONS, AND OTHER INFORMATION FOR BORROWERS 
 Borrower represents
and warrants to Lender that Borrower’s current name and organizational status as of the Effective Date is as follows: 

Name:  BIND THERAPEUTICS, INC., a Delaware corporation 
 Organization ID Number:  4162122 
 Borrower represents and warrants to
Lender that for five (5) years prior to the Effective Date, Borrower did not do business under any other name or organization or form except the following: 
 Name:  BIND Biosciences, Inc. 

			
	Used during dates of:	  	May 2006 to April 2013
	Type of Organization:	  	C corporation
	State of organization:	  	Delaware

 Organization ID Number: 4162122 

Borrower’s fiscal year ends on December 31st. 
 Borrower’s federal employer tax identification number is: 56-2596148 

Borrower represents and warrants to Lender that its chief executive office is located at 325 Vassar Street, Cambridge, MA 02139, subject
to any changes permitted in the Loan Agreement. 

 EXHIBIT E 
 BORROWER’S DEPOSIT ACCOUNTS AND INVESTMENT ACCOUNTS 

 EXHIBIT F 
 COMPLIANCE CERTIFICATE 
 Hercules Technology III, L.P. 

400 Hamilton Avenue, Suite 310 
 Palo Alto, CA
94301 
 Reference is made to that certain Amended and Restated Loan and Security Agreement dated
            , 2013 and all ancillary documents entered into in connection with such Amended and Restated Loan and Security Agreement all as may be amended from time to time, (hereinafter
referred to collectively as the “Loan Agreement”) between Hercules Technology III, L.P. (“Hercules”) as Lender and BIND THERAPEUTICS, INC., a Delaware corporation (collectively, the “Company”) as Borrower. All
capitalized terms not defined herein shall have the same meaning as defined in the Loan Agreement. 
 The undersigned is an
Officer of the Company, knowledgeable of all Company financial matters, and is authorized to provide certification of information regarding the Company; hereby certifies, in such capacity, that in accordance with the terms and conditions of the Loan
Agreement, the Company is in compliance in all material respects for the period ending                      of all covenants, conditions and terms
and hereby reaffirms that all representations and warranties contained therein are true and correct in all material respects on and as of the date of this Compliance Certificate with the same effect as though made on and as of such date, except to
the extent such representations and warranties expressly relate to an earlier date, after giving effect in all cases to any standard(s) of materiality contained in the Loan Agreement as to such representations and warranties. Attached are the
required documents supporting the above certification. The undersigned further certifies, in such capacity, that these are prepared in accordance with GAAP (except for the absence of footnotes with respect to unaudited financial statement and
subject to normal year end adjustments) and are consistent from one period to the next except as explained below. 
  

					
	REPORTING REQUIREMENT	  	REQUIRED	  	 CHECK IF

ATTACHED

			
	Interim Financial Statements	  	Monthly within 30 days	  	
			
	Interim Financial Statements	  	Quarterly within 45 days	  	
			
	Audited Financial Statements	  	FYE within 150 days (90 if public company)	  	

  

			
	Very Truly Yours,
	
	BIND THERAPEUTICS, INC.
		
	By:	 	  

		
	Name:	 	  

		
	Title::	 	  

 EXHIBIT G 
 FORM OF JOINDER AGREEMENT 
 This Joinder Agreement (the “Joinder
Agreement”) is made and dated as of             , 20    , and is entered into by and between
                    , a                     
corporation (“Subsidiary”), and Hercules Technology III, L.P. (“Lender”). 
 RECITALS 

A. Subsidiary’s Affiliate, BIND THERAPEUTICS, INC. (“Company”) has entered/desires to enter into that certain Amended and
Restated Loan and Security Agreement dated June 12, 2013, with Lender, as such agreement may be amended (the “Loan Agreement”), together with the other agreements executed and delivered in connection therewith; 

B. Subsidiary acknowledges and agrees that it will benefit both directly and indirectly from Company’s execution of the Loan
Agreement and the other agreements executed and delivered in connection therewith; 
 AGREEMENT 

NOW THEREFORE, Subsidiary and Lender agree as follows: 
 1. The recitals set forth above are incorporated into and made part of this Joinder Agreement. Capitalized terms not defined herein shall have the meaning provided in the Loan Agreement. 

2. By signing this Joinder Agreement, Subsidiary shall be bound by the terms and conditions of the Loan Agreement the same as if it were
the Borrower (as defined in the Loan Agreement) under the Loan Agreement, mutatis mutandis, provided however, that Lender shall have no duties, responsibilities or obligations to Subsidiary arising under or related to the Loan Agreement or the other
agreements executed and delivered in connection therewith. Rather, to the extent that Lender has any duties, responsibilities or obligations arising under or related to the Loan Agreement or the other agreements executed and delivered in connection
therewith, those duties, responsibilities or obligations shall flow only to Company and not to Subsidiary or any other person or entity. By way of example (and not an exclusive list): (a) Lender’s providing notice to Company in accordance
with the Loan Agreement or as otherwise agreed between Company and Lender shall be deemed provided to Subsidiary; (b) Lender’s providing an Advance to Company shall be deemed an Advance to Subsidiary; and (c) Subsidiary shall have no
right to request an Advance or make any other demand on Lender. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 [SIGNATURE PAGE TO JOINDER AGREEMENT] 

 

			
	SUBSIDIARY:	 	
		
	  
	 	.

  

					
	By:	 	  

	Name:	 	  

	Title:	 	  

					
			
	Address:	 		 	
	
	  

	  

	Telephone:	 	  
	 	
	Facsimile:	 	  
	 	

  

			
	HERCULES TECHNOLOGY III, L.P.
		
	By:	 	Hercules Technology SBIC Management, LLC, its General Partner
		
	By:	 	Hercules Technology Growth Capital, Inc., its Manager
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Address: 
 400
Hamilton Ave., Suite 310 
 Palo Alto, CA 94301 
 Facsimile: 650-473-9194 
 Telephone: 650-289-3060 

 EXHIBIT H 
 ACH DEBIT AUTHORIZATION AGREEMENT 
 Hercules Technology III, L.P. 

400 Hamilton Avenue, Suite 310 
 Palo Alto, CA
94301 
 Re: Amended and Restated Loan and Security Agreement dated June 12, 2013 between BIND THERAPEUTICS, INC.
(“Borrower”) and Hercules Technology III, L.P. (“Company”) (the “Agreement”) 
 In connection with the above
referenced Agreement, the Borrower hereby authorizes the Company to initiate debit entries for the periodic payments due under the Agreement to the Borrower’s account indicated below. The Borrower authorizes the depository institution named
below to debit to such account. 
  

			
	DEPOSITORY NAME	  	BRANCH
	 	  	 
	 	  	 
	CITY	  	STATE AND ZIP CODE
	 	  	 
	 	  	 
	TRANSIT/ABA NUMBER	  	ACCOUNT NUMBER
	 	  	 
	 	  	 
	 	  	 

 This authority will remain in full force and effect so long as any amounts are due under the Agreement. 

 

			
	BIND THERAPEUTICS, INC.
	a Delaware corporation
		
	By:	 	  

		
	Date:	 	  

 Schedule 1A 
 Permitted Indebtedness 
 Capital Lease Equipment: 

BSB Lease; Wyatt Equipment ($41,539 balance 5/31/2013) 
 Royal Bank; Dyonex Equipment ($20,206 balance 5/31/2013) 
 Royal Bank: BioDirect
Beckman Centrifuge ($9,665 balance 5/31/2013) 
 Letter of Credit/Other Guarantees: 

Letter of Credit – benefit to Biomed Realty Trust – $480,832 (see also Deposit Accounts) 

Visa Credit Card (through Comerica) – $30K deposit held (see also Deposit Accounts) 

Loans to officers: see Schedule 7.8. 

 Schedule 1B 
 Permitted Investments 

 Schedule 1C 
 Permitted Liens 
 Capital Lease Equipment: 

Liens relating to: 
 BSB Lease; Wyatt Equipment ($41,539 balance 5/31/2012) 
 Royal Bank; Dyonex
Equipment ($20,206 balance 5/31/2012) 
 Royal Bank: BioDirect Beckman Centrifuge ($9,665 balance 5/31/2012) 

Letter of Credit/Other Guarantees: 
 Liens relating to Letter of Credit – benefit to Biomed Realty Trust – $480,832 (see also Deposit Accounts) 
 Liens relating to Visa Credit Card (through Comerica) – $30K deposit held (see also Deposit Accounts) 

 Schedule 5.3 
 Consents/Conflicts 
 None. 

 Schedule 5.5 
 Actions before Governmental Authorities 
 None. 

 Schedule 5.8 
 Tax Matters 
 None. 

 Schedule 5.9 
 Intellectual Property Claims 
 None. 

 Schedule 5.11 
 Borrower Products 
 None. 

 Schedule 5.14 
 Capitalization Table 
 BIND Therapeutics 

Capitalization Table - SUMMARY (fully diluted) 

As of 6/4/2013 
  

																																									
	 Name
	 	Common	 	 	Options	 	 	Series A	 	 	Series B	 	 	Series C	 	 	Series C-1	 	 	Series D	 	 	Series
RN1	 	 	TOTAL
SHARES	 	 	%
Owned	 
											
	 Polaris Venture Partners (all funds)
	 				 				 	 	1,476,960	  	 	 	1,900,000	  	 	 	487,780	  	 	 	390,170	  	 	 	964,798	  	 				 	 	5,219,708	  	 	 	14.86	% 
											
	 Flagship Ventures
	 				 				 	 	984,640	  	 	 	1,900,000	  	 	 	416,667	  	 	 	333,288	  	 	 	407,060	  	 				 	 	4,041,655	  	 	 	11.50	% 
											
	 NanoDimension
	 				 				 				 	 	1,000,000	  	 	 	144,443	  	 	 	187,500	  	 	 	423,066	  	 				 	 	1,755,009	  	 	 	5.00	% 
	 Alexandria Real Estate
	 				 				 				 	 	50,000	  	 				 				 				 				 	 	50,000	  	 	 	0.14	% 
	 ARCH Venture Fund VII L.P
	 				 				 				 	 	1,600,000	  	 	 	231,110	  	 	 	184,862	  	 	 	457,118	  	 				 	 	2,473,090	  	 	 	7.04	% 
	 DHK Investments
	 				 				 				 				 	 	1,280,000	  	 	 	250,000	  	 	 	956,781	  	 				 	 	2,486,781	  	 	 	7.08	% 
	 Peter Doelger
	 				 				 				 				 	 	640,000	  	 	 	64,612	  	 	 	159,775	  	 				 	 	864,387	  	 	 	2.46	% 
	 Dimitris Bertsimas
	 				 				 				 				 	 	320,000	  	 	 	32,306	  	 	 	53,074	  	 				 	 	405,380	  	 	 	1.15	% 
											
	 Rusnano
	 				 				 				 				 				 				 	 	2,759,624	  	 	 	583,333	  	 	 	3,342,957	  	 	 	9.52	% 
	 Blakeley
	 				 				 				 				 				 	 	625,000	  	 	 	141,719	  	 				 	 	766,719	  	 	 	2.18	% 
	 Endeavorvision
	 				 				 				 				 				 	 	625,000	  	 	 	83,005	  	 				 	 	708,005	  	 	 	2.02	% 
	 Chris Kryder
	 				 				 				 				 				 	 	375,000	  	 	 	56,492	  	 				 	 	431,492	  	 	 	1.23	% 
	 Kathleen Megan Kelleher
	 				 				 				 				 				 				 	 	60,525	  	 				 	 	60,525	  	 	 	0.17	% 
	 Jeffrey Larson
	 				 				 				 				 				 				 	 	181,574	  	 				 	 	181,574	  	 	 	0.52	% 
	 John Connor
	 				 				 				 				 				 				 	 	60,525	  	 				 	 	60,525	  	 	 	0.17	% 
	 MSKCC
	 				 				 				 				 				 	 	37,500	  	 	 	8,504	  	 				 	 	46,004	  	 	 	0.13	% 
											
	 GE Financial
	 				 				 				 	 	8,000	  	 				 				 				 				 	 	8,000	  	 	 	0.02	% 
											
	 Hercules Financial
	 				 				 				 				 				 	 	150,000	  	 				 				 	 	150,000	  	 	 	0.43	% 
											
	 Founders Shares
	 	 	3,739,969	  	 				 				 				 				 				 				 				 	 	3,739,969	  	 	 	10.65	% 
											
	 MIT/BWH Licence Shares
	 	 	341,613	  	 				 				 				 				 				 				 				 	 	341,613	  	 	 	0.97	% 
											
	 Option Plan: Issued
	 	 	2,047,273	  	 	 	5,785,369	  	 				 				 				 				 				 				 	 	7,832,642	  	 	 	22.29	% 
	 Option Plan: Available
	 				 	 	167,358	  	 				 				 				 				 				 				 	 	167,358	  	 	 	0.48	% 
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
											
	 TOTALS
	 	 	6,128,855	  	 	 	5,952,727	  	 	 	2,461,600	  	 	 	6,458,000	  	 	 	3,520,000	  	 	 	3,255,238	  	 	 	6,773,640	  	 	 	583,333	  	 	 	35,133,393	  	 	 	100.00	% 
		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Share Price
	 				 				 	 	1.02	  	 	 	2.50	  	 	 	3.13	  	 	 	4.00	  	 	 	6.00	  	 	 	6.00	  	 				 			
	 Value Raised ($$)
	 				 				 	 	2,500,001	  	 	 	16,125,000	  	 	 	11,000,000	  	 	 	12,420,952	  	 	 	39,396,368	  	 	 	3,500,000	  	 	 	84,941,321	  	 			
		 				 				 				 				 				 				 				 				 	 	Founders/Mgmt	  	 	 	33.42	% 
											
	 Total Preferred (post-Series D, RN1):
	 	 	22,893,811	  	 				 				 				 				 				 				 				 				 			
	 Reserved Under Option Plan:
	 	 	8,000,000	  	 				 				 				 				 				 				 				 	 	167,358.00	  	 	 	0.48	% 

 Schedule 7.8 
 Restricted Payment 
 Loans to Officer / Directors 

 

					
	Scott Minick	  	Loan Value approx. $577,077.85, as of 5/31/13	  	Secured against Stock Purchased; due at end of 4 years; part of hire package
			
	Omid Farokhzad	  	Loan value $45,215.99, as of 5/31/13	  	Secured against Stock Purchased; being paid back through offset of consulting fees
			
	Robert Langer	  	Loan Value $45,215.99, as of 5/31/13	  	Secured against Stock Purchased; being paid back though an offset of consulting fees.

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