Document:

EX-10.12

 Exhibit 10.12 

[***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
 Execution Version 

EXCLUSIVE LICENSE AGREEMENT 

By and between 

Shattuck Labs, Inc. 

and 
 Heat Biologics,
Inc. 
 Effective as of June 3, 2016 

  
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BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 EXCLUSIVE LICENSE AGREEMENT 

This Exclusive License Agreement (this “Agreement”), effective this 3rd
day of June, 2016 (the “Effective Date”), is between Shattuck Labs, Inc., a Delaware corporation (“Shattuck”), and Heat Biologics, Inc., a Delaware corporation (“Heat”). Shattuck and Heat are each a
“Party” and collectively the “Parties.” 
 WHEREAS, Heat owns certain provisional patent applications and know-how related to the use of fusion proteins to potentially treat cancers and other diseases and conditions; 

WHEREAS, Heat would like to exclusively license, consistent with the terms and conditions of this Agreement, to Shattuck, and Shattuck would
like to accept such exclusive license so as to allow Shattuck to take over the research and development of the Fusion Protein Research (as defined below). 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained, the receipt and sufficiency which are
hereby acknowledged, Shattuck and Heat hereby agree as follows. 
 ARTICLE 1 

DEFINITIONS 
 Unless the
context otherwise requires, the terms in this Agreement with initial letters capitalized, will have the meanings set forth below, or the meaning as designated in the indicated places throughout this Agreement. 

1.1    “Affiliate” of a Party means any Person that, directly or indirectly, through one or more
intermediaries, controls, is controlled by, or is under common control with such Party, as the case may be, but for only so long as such control exists. As used in this Section 1.1, “control” will mean (i) direct or indirect
beneficial ownership of at least fifty percent (50%) (or such lesser percentage which is the maximum allowed to be owned by a foreign corporation in a particular jurisdiction) of the voting share capital or other equity interest in such Person or
(ii) the power to direct the management of such Person by contract or otherwise. 

1.2    “Auditor” will have the meaning set forth in Section 4.8. 

1.3     “Background Fusion Protein Know-How” means all know-how owned or Controlled by Heat which is used by Heat in the Research Services or otherwise incorporated into the work product and substances resulting from the Research Services. For clarity, Background Fusion
Protein Know-How excludes the Provisional Applications, the Research Services IP, and any IP Rights which are not Controlled by Heat. 

1.4    “Bankruptcy Laws” means Title 11 of the United States Code, and any foreign counterparts
thereto. 

  
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BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 1.5    “BLA” mean an application for a biologics
license in accordance with the requirements of Title 42 of the United States Code (the Public Health Service Act) and the regulations promulgated thereunder (including all additions, supplements, extensions, and modifications thereto). 

1.6    “Business Day” means any day other than a Saturday, Sunday, or banking holiday in Austin,
Texas or Durham, North Carolina. 
 1.7    “Calendar Quarter” means the three (3) month
period beginning on January 1, April 1, July 1 or October 1, as the context requires. 

1.8    “Calendar Year” means a period of twelve consecutive calendar months beginning on and
including January 1 and ending on December 31. 
 1.9    “Change of Control Event” means an
event in which an entity acquires all or substantially all of the business, stock, or assets of a Party relating to the subject matter of this Agreement, whether by merger, acquisition or otherwise. 

1.10 “Commercially Reasonable Efforts” means that level of efforts and resources, with respect to the applicable
Party, at the relevant point in time, that is consistent with the efforts and resources that such Party, in the exercise of its reasonable scientific and business judgment, would normally devote [***], based on conditions then prevailing and taking
into account [***] and other relevant factors, including, comparative technical, legal, scientific, and/or medical factors. 
 1.11
“Competitive Product” means a pharmaceutical product which is under development, or is marketed, for the same indication and is directed to at least one immunotherapy-related target in common with a Product or a Product
candidate which is under development by Shattuck. For clarity, products developed under the Heat Existing Programs will not be considered Competitive Products. 

1.12 “Confidential Information” means any confidential or proprietary information or data disclosed by or on behalf of
a Party under this Agreement, whether provided in written, oral, graphic, visual, electronic or other form, including any non-public information relating to the Provisional Applications, the Research Services,
the Research Services IP, other development efforts, new inventions, sources of materials, cost, pricing and other financial information and Patent information. 

1.13 “Control” or “Controlled” means, with respect to any IP Rights, the possession (whether by
ownership, license or contract, other than pursuant to this Agreement) by a Party or its Affiliates of the right to grant to another Party access, license, sublicense, or other right as provided herein without violating the terms of any agreement or
other arrangement, existing before, on, or after the Effective Date, with any Third Party. 
 1.14 “Covers” or
“Covered” means, with respect to a product and a Patent, that, but for a license granted to a Person under a Valid Claim included in such Patent, such Person’s manufacture, use, sale, import, marketing, offer for sale or
commercialization of the product would infringe such Valid Claim. 

  
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 1.15 “Discloser” means the Party that discloses its own Confidential
Information. 
 1.16 “Disclosure Schedules” means the disclosure schedules attached to this Agreement. 

1.17 “FDA” means the United States Food and Drug Administration, including all agencies under its control, and any
successor agency thereto. 
 1.18 “First Commercial Sale” means, with respect to a country, the first commercial
sale of a Product to a Third Party for use, consumption or resale in that country after obtaining regulatory approval in that country. 

1.19 “Fusion Protein Patent Rights” means all Patents related to Provisional Applications or the Research Services
Inventions. 
 1.20 “Fusion Protein Research” means all ideas and research directly related to the fusion proteins
described in the Provisional Applications, and all IP Rights included in, related to, or covering such ideas and research as of the Effective Date. 

1.21 “Heat Existing Programs” means Heat’s existing research programs related to the gp96-Ig secreting, cell-based therapy known as “ImPACT” and the secreting, cell-based therapy having a combination of various ligand fusion proteins targeting
co-stimulatory receptors (e.g. OX40, ICOS, 4-1BB, and the like) and gp96-Ig known as “ComPACT”. 

1.22 “Heat Indemnities” has the meaning ascribed to it in Section 7.2. 

1.23 “IND” means an Investigational New Drug application, as defined in 21 Code of Federal Regulations § 312.23,
in accordance with the requirements of the United States Food, Drug, and Cosmetic Act of 1938, as amended, and the regulations promulgated thereunder, including all supplements and amendments thereto, filed with the FDA. 

1.24 “Indemnitee” has the meaning ascribed to it in Section 7.3. 

1.25 “Indemnitor” has the meaning ascribed to it in Section 7.3. 

1.26 “Invention” means any and all inventions, discoveries, improvements, processes,
know-how and techniques discovered, conceived or reduced to practice in the course of or as a result of activities of the Research Services under this Agreement, whether or not patentable or included in any
claim of Patents, together with all IP Rights therein. 
 1.27 “IP Rights” means all vested, contingent and future
intellectual property rights including: (i) all inventions, compounds, compositions, substances, methods, processes, techniques, know-how, technology, data, information, discoveries, and materials
including ideas, concepts, formulas, assays, practices, software, devices, procedures, designs, constructs, plans, applications, research, preclinical and clinical data, regulatory information, manufacturing process,
scale-up and other technical data, reports, documentation and samples, including biological, chemical, pharmacological, toxicological, pharmaceutical, physical and analytical,

  
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pre-clinical, clinical, safety, manufacturing and quality control data and information, as well as study designs and protocols; assays and biological
methodology and other results of any nature whatsoever, and any Patents, trade secrets, confidential information, proprietary processes, or industrial rights directly or indirectly deriving therefrom; (ii) all trademarks, service marks,
copyrights, designs, trade styles, logos, trade dress, and corporate names, including all goodwill associated therewith; and (iii) any work of authorship, regardless of copyrightability, all compilations and all copyrights. 

1.28 “Labor Funding” will have the meaning ascribed to it in Section 3.2. 

1.29 “Lien” means any pledge, security, interest, encumbrance, prior assignment, option, warrant, right to possession,
claim, right or restriction of any kind or nature whatsoever, charge or other lien whether arising by contract, agreement or by operation of law or order of a court. 

1.30 “Losses” means losses, liabilities, damages, penalties, fines, costs and expenses (including reasonable
attorneys’ fees and other expenses of litigation). 
 1.31 “Milestone Event” will have the meaning ascribed to
it in Section 4.3. 
 1.32 “Milestone Payment” will have the meaning ascribed to it in Section 4.3. 

1.33 “Net Sales” means with respect to any Product, the gross amounts invoiced by Shattuck or its Affiliates or its
sublicensees to any Third Parties for sales of Products, less the following items, determined in accordance with generally accepted accounting principles: 
  

	 	(a)	 [***]; 

  

	 	(b)	 [***]; 

  

	 	(c)	 [***]; and 

  

	 	(d)	 [***]. 

For purposes of determining Net Sales, a “sale” will not include [***]. Amounts invoiced by Shattuck or its Affiliates or its
sublicensees for the sale of Products [***] will not be included in the computation of Net Sales hereunder. 
 If a Product either
(i) is sold in the form of a combination product containing both a therapeutically active pharmaceutical molecule which is Covered by the Fusion Protein Patent Rights and one or more independently therapeutically active pharmaceutical molecules
which are not Covered by the Fusion Protein Patent Rights or (ii) is sold in a form that contains (or is sold bundled with) a delivery device therefor (in either case of (i) or (ii), a “Combination Product”), the Net Sales
of such Product for the purpose of calculating royalties owed under this Agreement for sales of such Combination Product, will be determined as follows: first, Shattuck will determine the actual Net Sales of such Combination Product (using the above
provisions) and then such amount will be multiplied by the fraction A/(A+B), where A is the invoice price of the Product Covered by the Fusion Protein Patent Rights, if sold separately, and B is the total invoice price of any other active

  
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pharmaceutical molecule (which is not Covered by the Fusion Protein Patent Rights) or delivery device in the combination if sold separately. If any other active pharmaceutical molecule or
delivery device in the combination is not sold separately, Net Sales will be calculated by multiplying actual Net Sales of such Combination Product by a fraction A/C where A is the invoice price of the Product Covered by the Fusion Protein Patent
Rights if sold separately, and C is the invoice price of the Combination Product. If neither the Product Covered by the Fusion Protein Patent Rights nor any other active pharmaceutical molecule or delivery device in the Combination Product is sold
separately, the adjustment to Net Sales will be determined by the Parties in good faith to reasonably reflect the fair market value of the contribution of the Product Covered by the Fusion Protein Patent Rights in the Combination Product to the
total market value of such Combination Product 
 1.34 “Patent(s)” means (a) any and all national, regional and
international patents, certificates of invention, applications for certificates of invention, priority patent filings and patent applications, including provisional patent applications, and (b) any renewal, divisional, continuation (in whole or
in part), or request for continued examination of any of such patents, certificates of invention and patent applications, and any and all patents (including utility models, petty patents and design patents) or certificates of invention issuing
thereon, and any and all reissues, reexaminations, extensions, divisions, renewals, substitutions, confirmations, registrations, revalidations, revisions, and additions of or to any of the foregoing. 

1.35 “Person” means any individual, corporation, partnership, limited liability company, trust, governmental entity,
or other legal entity of any nature whatsoever. 
 1.36 “Phase 1 Clinical Trial” means a human clinical trial
performed in accordance with the applicable laws that provides for the first introduction of a Product into humans for the purpose of determining human toxicity, metabolism, biomarker, absorption, elimination and other pharmacological action. 

1.37 “Phase 2 Clinical Trial” means a human clinical trial performed in accordance with the applicable laws in
patients with a particular disease or condition which is designed to establish the safety, appropriate dosage, efficacy, and tolerability of a Product given its intended use and to initially explore its efficacy for such disease or condition. 

1.38 “Product” means a finished pharmaceutical product which is Covered by a Valid Claim falling within the Fusion
Protein Patent Rights. 
 1.39 “Prosecute” and “Prosecution” means the preparation, filing,
prosecution and maintenance of a Patent. As used herein, the responsibilities for the preparation, filing, prosecution and maintenance of a Patent include the responsibility for any interferences, reexaminations, inter partes review, post
grant review, reissues, oppositions, revocation actions, declaratory judgment actions, enforcement actions and the like, and gaining patent term restorations, supplemental protection certificates or their equivalents, and patent term extensions
related thereto. 

  
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BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 1.40 “Provisional Applications” means U.S. Provisional Patent
Application Nos. 62/235,727 and 62/263,313, including all non-provisional applications claiming priority therefrom, divisions, continuations,
continuations-in-part, supplemental protection certifications, extensions, renewals, reissues, reexaminations, post-grant proceedings thereof, and any foreign
counterparts and equivalents of such provisional applications. 
 1.41 “Publication” means any publication (written
or oral) of any non-public scientific, technical information or other Confidential Information (including any and all Inventions) related to the activities of the Parties under the Research Services and/or
this Agreement. 
 1.42 “Purpose” has the meaning ascribed to in in Section 8.1. 

1.43 “Recipient” means the Party receiving Confidential Information from another Party. 

1.44 “Representatives” means employees, officers, directors, agents, subcontractors, consultants, Affiliates and/or
any other Person acting on a Party’s behalf, individually or collectively, and which will be exposed to Confidential Information. 

1.45 “Research Funding” will have the meaning ascribed to it in Section 3.2. 

1.46 “Research Services” means the research and development services related to developing the Fusion Protein Research
as set forth in Exhibit A to this Agreement, and as may be amended from time to time by Shattuck. 
 1.47 “Research Services
IP” means any and all data collected and results generated by or on behalf of Heat as a result of conducting the Research Services, or otherwise in connection with the use of Shattuck’s Confidential Information. 

1.48 “Research Services Inventions” means any and all Inventions made, discovered, conceived or reduced to practice by
one or more employees or agents of Heat or its Affiliates, or other Persons acting under its authority, whether solely or jointly with Shattuck or others, in the course of or as a result of conducting the Research Services or otherwise in connection
with the Research Services IP or as a result of Heat’s access to Shattuck’s Confidential Information, whether or not patentable. For clarity, Research Services Inventions does not include the Provisional Applications. 

1.49 “Research Services Liaison” means Dr. Taylor Schreiber, or a similarly-skilled scientist that replaces
Dr. Schreiber should he no longer be employed by Heat. 
 1.50 “Research Term” will have the meaning ascribed
to it in Section 3.1(a). 
 1.51 “Royalty Term” will have the meaning ascribed to it in Section 4.4(b).

 1.52 “Shattuck Indemnitees” will have the meaning ascribed to it in Section 7.1. 

1.53 “Sublicense Consideration” will have the meaning ascribed to it in Section 4.2. 

  
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 1.54 “Successful Completion” of a clinical trial occurs when all of
the pre-defined primary endpoints of such clinical trial are achieved and Shattuck makes the affirmative decision to continue further development of the relevant Product candidate. For clarity, the Parties
agree that if a clinical trial is terminated early, it will not be considered to have achieved Successful Completion. By way of example, a clinical trial will be considered successfully completed when Shattuck makes an announcement of such. 

1.55 “Successor” means any successor to a Party by way of (i) sale of all or substantially all of the assets of a
Party, (ii) stock sale or share exchange, or (iii) merger or similar reorganization transaction. For clarity, if Heat undergoes a Change of Control Event, the surviving entity will be deemed to be Heat’s Successor. 

1.56 “Supply Expenses” will have the meaning ascribed to it in Section 3.2. 

1.57 “Term” has the meaning ascribed to it in Section 9.1. 

1.58 “Third Party” means any Person other than Heat, Shattuck or their respective Affiliates. 

1.59 “Third Party Claim” means any claims, actions, suits or proceedings brought by a Third Party. 

1.60 “Third Party Licenses” has the meaning ascribed to it in Section 4.4(c). 

1.61 “Valid Claim” means (a) an unexpired claim of an issued patent which has not been found to be unpatentable,
invalid or unenforceable by a court, national or regional patent office, or other appropriate body that has competent jurisdiction in the subject country, from which decision no appeal is taken or can be taken (except for writ of certiorari); or (b)
[***]. 
 ARTICLE 2 

LICENSE GRANTS 

2.1    Exclusive License to Shattuck. Subject to the terms and conditions of this Agreement, Heat hereby
grants and causes its Affiliates to grant to Shattuck and its Affiliates an exclusive (even as to Heat and its Affiliates), worldwide license, with the right to sublicense, under the Provisional Applications to research, develop, manufacture, have
manufactured, import, export, use, market, sell, have sold, offer for sale, and otherwise commercialize Products. 

2.2    Nonexclusive License to Shattuck. Subject to the terms and conditions of this Agreement, Heat hereby
grants and causes its Affiliates to grant to Shattuck and its Affiliates a nonexclusive, worldwide, irrevocable, perpetual license, with the right to sublicense, under the Background Fusion Protein Know-How to
research, develop, manufacture, have manufactured, import, export, use, market, sell, have sold, offer for sale, and otherwise commercialize Products. 

2.3    Diligence. Shattuck will undertake Commercially Reasonable Efforts to diligently research and develop
at least one Product and will file an IND application for at least one Product [***]. Notwithstanding anything to the contrary in this Agreement, the Parties agree that all 

  
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decisions regarding the research, development, and commercialization of Products will be at the sole and exclusive discretion of Shattuck, who will have no obligation to confer with Heat
regarding any such activities. For clarity, Shattuck may conduct such research, development, and commercialization activities on its own or in conjunction with Third Parties. 

2.4    No Conflicts. Heat and its Affiliates will not, individually or with a Third Party, research,
develop, make, have made, import, export, license, market, offer to sell, sell, or otherwise commercialize the Fusion Protein Research except in conjunction with Shattuck in accordance with this Agreement. If Heat undergoes a Change of Control Event
and the Successor owns or Controls a Competitive Product, and such Successor either (a) divests such Competitive Product within [***] of the closing of the Change of Control Event or (b) assigns the Provisional Applications to Shattuck,
then such Successor will not be bound by this Section 2.4. If Heat or Successor assigns the Provisional Applications to Shattuck under this Section 2.4, Shattuck will have no further obligations to Heat or Successor related to Prosecution
activities pursuant to Section 5.2(c)(ii). For clarity, and without limitation, Shattuck’s payment obligations under Article 4 and reporting obligations under Article 10, will not be affected by such assignment. 

2.5    Heat’s Option Rights. If, within [***] of the Effective Date, Heat enters into a binding letter
of intent, binding term sheet, or executed agreement with a Third Party which results, or would result, in a Change of Control Event (in which case, such Third Party is the potential Successor in the case of a binding letter of intent or binding
term sheet, or the Successor in the case of an executed agreement), Heat or its potential Successor or Successor will have the option to enter into good faith negotiations with Shattuck to (a) terminate the Parties’ rights and obligations
under this Agreement and (b) purchase or license any Research Services IP. To exercise the option, Heat or its potential Successor or Successor will provide written notice of its desire to exercise its option rights to Shattuck within such
[***] time period, along with proof of such binding letter of intent, binding term sheet, or executed agreement. Upon receiving such written notice, Shattuck and Heat or the potential Successor or Successor will enter into good faith, exclusive
negotiations to enter into such transaction, provided that if the Parties (including the potential Successor or Successor) have not executed such transaction within [***] of Shattuck’s receipt of Heat’s option notice, the Parties and the
potential Successor or Successor will have no further obligation to negotiate with each other regarding the Provisional Applications and the Research Services IP. 

ARTICLE 3 
 RESEARCH
SERVICES 
 3.1    The Research Services. 

(a)    Heat will carry out the Research Services as set forth in Exhibit A during the six-month period following the Effective Date (the “Research Term”). The Research Services will be carried out by the Research Services Liaison and at least two senior research scientists employed
by Heat. Heat will conduct all Research Services and will not engage Third Parties to conduct any Research Services without the prior written consent of Shattuck or unless otherwise provided in Exhibit A. The Research Services Liaison will provide
to Shattuck written reports, as may be reasonably requested by Shattuck, detailing the data and results of the Research Services, along with 

  
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any and all conclusions drawn from such data and result. In addition to such written reports, the Research Services Liaison will provide such additional oral reports as may be reasonably
requested by Shattuck. The Parties understand and agree that Exhibit A provides the general outline and goals of research to be conducted by Heat, and further agree that Heat may reasonably modify such Research Services from time to time as needed
so long as such modified services do not significantly expand the scope of the Research Services. Any significant amendments to or extensions of the Research Services or the Research Term may only be made upon the mutual written agreement of the
Parties. If, following the Research Term, Shattuck requests that Heat perform additional research services in addition to the services described in Exhibit A, the Parties will work together in good faith to determine a mutually acceptable timeline
and budget, provided that, for clarity, Heat may elect to decline to perform such additional services. 

(b)    Early Termination of Research Services. If Heat undergoes a Change of Control Event, either Party may
elect to terminate the Research Services upon [***] notice to the other Party. 
 3.2    Research Funding.
As compensation for providing the labor required to conduct the Research Services, Shattuck will make payments to Heat at a rate of [***] per month during the Research Term. Subject to Shattuck’s termination right under Section 3.1(b),
Shattuck will make a total of [***] such payments, totaling [***] of funding (the “Labor Funding”). In addition, Shattuck will reimburse Heat at cost for all reagents and other supplies needed to conduct the Research Services,
subject to Shattuck’s prior written approval (the “Supply Expenses”, which together with the Labor Funding is the “Research Funding”). However, Shattuck will be responsible for
pre-paying any Supply Expenses that exceed [***] unless Heat elects to waive this obligation and seek reimburse instead. Shattuck may, at its discretion, elect to pay vendors directly for certain reagents or
other supplies used in connection with the Research Services. Heat represents and warrants that it has the ability to, and will, conduct all Research Services set forth in Exhibit A within the Research Term and for the Research Funding amounts set
forth in this Section 3.2. In no event will Shattuck be obligated to pay any additional amounts for Research Funding beyond the funding amounts set forth in this Section 3.2. If the Research Services are terminated pursuant to
Section 3.1(b), (i) Heat will immediately cease all Research Services and will cease incurring Supply Expenses, and (ii) Shattuck’s obligation to make Research Funding payments will cease upon termination, provided that Shattuck will
reimburse Heat for its reasonable Supply Expenses actually incurred prior to termination. 
 3.3    Research
Funding Payments. 
 (a)    Within [***] following the end of each month in the Research Term, Heat will
submit an invoice to Shattuck detailing (i) the Labor Funding payment due for such month, and (ii) the amounts incurred by Heat in Supply Expenses during such month. Within [***] of receiving each such invoice, Shattuck will pay to Heat
the monthly Labor Funding payment and reimburse Heat for all pre-approved, uncontested, and properly documented Supply Expenses set forth in such invoice. Heat may send invoices to Shattuck electronically to
an email address designated in writing by Shattuck, and all such invoices sent via electronic mail, will be considered received upon transmission provided that Heat maintains evidence of such transmission. 

  
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 (b)    Heat will keep records, including receipts and invoices, of the
Supply Expenses it incurs in conducting the Research Services and, upon Shattuck’s reasonable request, Heat will provide to Shattuck detailed reports of such Supply Expenses. 

(c)    For the avoidance of doubt, any in-licensing or use of Third Party IP
Rights by or on behalf of Heat for the purposes of performing its obligations under the Research Services will require the prior written approval of Shattuck. 

ARTICLE 4 
 PAYMENTS

 4.1    Initial Payment. In consideration for the rights granted to Shattuck hereunder, Shattuck
will pay to Heat an upfront payment of Fifty Thousand U.S. Dollars ($50,000.00 USD) within [***] of the Effective Date. 

4.2    Sublicense Income. If Shattuck receives any upfront fees or other
non-royalty or other payments which are not tied to milestone events as consideration for rights granted under a sublicense of the Fusion Protein Patent Rights (the “Sublicense
Consideration”), Shattuck will pay to Heat a percentage of such Sublicense Consideration as follows: 

(a)    [***] of Sublicense Consideration received by Shattuck under a sublicense agreement to develop and commercialize
products which are Covered by a Valid Claim of the Fusion Protein Patent Rights and which is executed by Shattuck within [***] of the Effective Date; 

(b)    [***] of Sublicense Consideration received by Shattuck under a sublicense agreement to develop and commercialize
products which are Covered by a Valid Claim of the Fusion Protein Patent Rights, and which is executed by Shattuck [***] of the Effective Date and [***] of the Effective Date; and 

(c)    [***] of Sublicense Consideration received by Shattuck under a sublicense agreement to develop and commercialize
products which are Covered by a Valid Claim of the Fusion Protein Patent Rights, and which is executed by Shattuck [***] of the Effective Date. 
 For
clarity, Shattuck will not be obligated to pay to Heat any percentage of amounts received from sublicensees of the Fusion Protein Patent Rights which are royalties or profit share payments received from such sublicensees, or any amounts received as
payment in connection with the achievement of milestone events. Heat will receive royalty payments pursuant to Section 4.4 and Milestone Payments pursuant to Section 4.3. 

4.3    On the first achievement of each of the following events identified in the table below (each a
“Milestone Event”), Shattuck will make the following one-time payment (each a “Milestone Payment”) to Heat in the amount set opposite each such Milestone Event in the table
below. Shattuck will notify Heat in writing within [***] after the achievement of 

  
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each Milestone Event, and will pay the applicable Milestone Payment to Heat along with such notice. For clarity, each Milestone Payment is payable only once, regardless of the number of Products
developed or commercialized, number of approved indications for the Products, or any other event. 
  

			
	 Milestone Event
	  	 Milestone Payment (USD)

	Successful Completion of the first Phase 1 Clinical Trial for a Product	  	 [***]

		
	Successful Completion of the first Phase 2 Clinical Trial for a Product	  	 [***]

		
	Complete Filing of first BLA for a Product	  	 [***]

		
	First Commercial Sale of a Product	  	[***]
		
	First achievement in a Calendar Year of [***] in aggregate worldwide Net Sales of all Products	  	[***]
		
	First achievement in a Calendar Year of [***] in aggregate worldwide Net Sales of all Products	  	[***]

 4.4    Royalty Payments. 

(a)    Subject to the terms and conditions of this Agreement, Shattuck will make royalty payments to Heat based on Net
Sales of all Products worldwide in a Calendar Year by Shattuck, its Affiliates, and sublicensees, at a royalty rate of [***], subject to Sections 4.4(b) and (c). 

(b)    Royalties will be payable by Shattuck on a
Product-by-Product and country-by-country basis, and the period of time during which
royalties are payable on a Product will commence on the First Commercial Sale of such Product and will continue until the last-to-expire Valid Claim under the Fusion
Protein Patent Rights that Covers such Product in such country. Such period of time during which Shattuck is required to pay Heat a royalty, pursuant to this Section 4.4(b), on the sales of such Product in each country is referred to the
“Royalty Term” for such Product in such country. 
 (c)    In the event that Shattuck or a sublicensee
determines that it is reasonably necessary to obtain one or more licenses under any Patent(s) from Third Parties in order to research, develop, manufacture, have manufactured, import, export, use, market, sell, have sold, offer for sale or otherwise
commercialize a Product (hereinafter “Third Party Licenses”), then [***] of any royalty consideration paid by Shattuck or a sublicensee 

  
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under such Third Party Licenses will be deducted from royalties otherwise payable by Shattuck to Heat for such Product under this Section 4.4; provided, however that in no event will the
effective royalty rate for a given Product be less than [***]. 
 4.5    Taxes. All payments of any
amounts pursuant to this Agreement must comply with applicable tax withholding obligations. Shattuck has the right to withhold any amounts required to be withheld by any applicable laws from amounts payable to Heat. Shattuck will promptly provide
Heat with all relevant information and documentation with respect to the amounts withheld. For clarity, in no event will Shattuck be responsible for the payment of taxes levied on the income of Heat pursuant to this Section 4.5. 

4.6    Payments. Shattuck will pay Heat royalties due under Section 4.4 within [***] following the end
of each Calendar Quarter commencing with the initial Calendar Quarter following the First Commercial Sale of a Product. All payments to Heat under this Agreement will be made by bank wire transfer in immediately available funds to an account in the
name of Heat designated in writing by Heat. Payments hereunder will be considered to be made as of the day on which they are received by Heat’s designated bank. All amounts specified to be payable under this Agreement are in United States
Dollars and will be paid in United States Dollars. 
 4.7    Reports. With each royalty payment pursuant
to Section 4.6, Shattuck will furnish to Heat a reasonably detailed report showing the following information: (i) the gross invoiced amount for each Product during the reporting period sold by Shattuck or its Affiliates, or sublicensees to
the first unrelated Third Party; (ii) the deductions taken in calculating Net Sales for each Product during such reporting period, and the Net Sales for each such Product; (iii) the exchange rates used, if any, in determining the amount
due or performing any necessary currency conversion; (iv) the royalties payable with respect to such Net Sales; and (v) any withholding taxes required by applicable laws to be paid from such royalties. 

4.8    Records; Audits. Shattuck will keep, and require its Affiliates, sublicensees to keep, complete, true
and accurate books of accounts and records for the purpose of determining the amounts payable to Heat pursuant to this Agreement. Such books and records will be kept for such period of time required by applicable laws, but no less than at least
[***] following the end of the Calendar Quarter to which they pertain. Such records will be subject to inspection in accordance with this Section 4.8. Upon at least [***] written notice to Shattuck, Shattuck will permit an independent,
reputable, certified public accountant mutually agreeable to the Parties (the “Auditor”), at reasonable times and upon reasonable notice to audit or inspect the books or records the Auditor deems reasonably necessary or appropriate
for the purpose of verifying the calculation and reporting of Net Sales under this Agreement. Such Auditor will sign a nondisclosure agreement reasonably acceptable to Shattuck in form and substance, and will not disclose to Heat, its Affiliates or
any Third Party any information that is Shattuck’s or its Affiliate’s or sublicensee’s confidential customer information regarding pricing or other competitively sensitive proprietary information. Any and all records examined by such
Auditor will be deemed Shattuck’s Confidential Information. The Auditor will disclose to Heat only the amount and accuracy of calculations and payments reported and actually paid or otherwise 

  
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payable under this Agreement. The Auditor will send a copy of the report to Shattuck at the same time it is sent to Heat. Such inspections may be made no more than [***] and during normal
business hours. 
 ARTICLE 5 

INTELLECTUAL PROPERTY 

5.1    Ownership of Background IP. Each Party will have and retain all right, title and interest in and to,
their respective ownership rights in the IP Rights owned or Controlled by such Party. Nothing in this Agreement will be construed to grant to either Party or its Affiliates any rights or license to any IP Rights of another Party or its Affiliates
other than the rights and licenses expressly set forth in this Agreement. 
 5.2    Research Services IP and Research
Services Inventions. 
 (a)    Ownership and License Grants. 

(i)    Shattuck will have and retain all right, title and interest in the Research Services IP and Research Services
Inventions. All Research Services IP and Research Services Inventions will be deemed the Confidential Information of Shattuck. 

(ii)    Heat (on behalf of itself and its Affiliates) hereby assigns, and agrees to assign, to Shattuck all right, title,
and interest in and to the Research Services IP and Research Services Inventions. 
 (iii)    Shattuck grants to Heat a
non-exclusive, non-sublicensable license to Heat under the Research Services IP and Research Services Inventions for the limited purpose of conducting the Research
Services. In the event that any Research Services IP and Research Services Invention is useful for Heat Existing Programs, Shattuck grants to Heat a full paidup non-exclusive license to Heat under the Research
Services IP and Research Services Inventions for the limited purpose of developing the Heat Existing Programs, provided that the license granted under this Section 5.2(a)(iii) will automatically terminate if there is a material breach of this
Agreement by Heat. 
 (b)    Determination of Inventorship. Inventorship will be determined in accordance
with the applicable laws of the U.S., including U.S. patent law, as of the Effective Date, irrespective of where such Invention occurs. 

(c)    Patent Prosecution and Maintenance 

(i)    Fusion Protein Patent Rights. Shattuck will have, at its sole cost and expense, the sole and
exclusive right to control the Fusion Protein Patient Rights during the Term. 

  
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 (iv)    Shattuck will keep Heat informed in a timely manner of progress
with regard to the Prosecution of Fusion Protein Patent Rights. Shattuck will consider in good faith and not unreasonably reject the comments, requests and suggestions of Heat with respect to strategies for filing and prosecuting Fusion Protein
Patent Rights (including suggestions regarding national stage country selection). 
 (iii)    Shattuck will timely file
one or more non-provisional international (PCT) Patent applications claiming priority to the Provisional Applications. 

(iv)    Heat will make its employees (including inventors employed by Heat), and other Persons involved in performing the
Research Services), reasonably available to Shattuck (or to its authorized attorneys, agents or representatives), along with all such related or useful documentation (including lab notebooks and data), to the extent reasonably necessary to enable
Shattuck to undertake the Prosecution of all Fusion Protein Patent Rights, and will also make available to Shattuck such copies of material correspondence as may be reasonably requested by Shattuck which are in Heat’s possession, respecting the
Fusion Protein Patent Rights and the Inventions described therein. 
 (v)    Shattuck will notify Heat in writing
within [***] of any final deadline if it does not desire to continue prosecution or maintain Fusion Protein Patent Rights in a particular jurisdiction and/or for a particular Invention. If Shattuck notifies Heat as such, then Heat will have the
right to assume responsibility for the Prosecution of such Invention within the Fusion Protein Patent Rights. Shattuck will not allow any of the Fusion Protein Patent Rights to go abandoned without providing prior notice to Heat. 

(vi)    Nothing contained in this Agreement will be deemed to be a representation or warranty by Shattuck that it can or
will be able to obtain Patents based on the activities conducted under the Research Services. 
 ARTICLE 6 

REPRESENTATIONS AND WARRANTIES 

6.1    Reciprocal Representations. Each Party hereby represents and warrants to the other Parties that: 

(a)    it has the full power and authority to enter into this Agreement and to perform its obligations hereunder, and all
corporate approvals required have been obtained; 
 (b)    entering this Agreement will not constitute a breach of any
agreement, contract, understanding and/or obligation, including such Party’s documents of incorporation which it is currently bound by; and 

(c)    it is a corporation duly organized, validly existing under the laws of the jurisdiction of its organization and it
has all necessary corporate power and authority to carry on its business as currently conducted or proposed to be conducted. 

6.2    Reciprocal Covenants. Each Party hereby represents and warrants to the other Parties that: 

  
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 (a)    as long as this Agreement is in effect and without derogating from
the rights to terminate the Agreement pursuant to Article 9 below, such Party will not undertake any obligations which conflict with its obligations under this Agreement; and 

(b)    in carrying out its obligations and responsibilities pursuant to this Agreement it will obtain or procure all
necessary approvals and consents and will comply with all applicable laws and regulations, licenses, permits, approvals and procedures. 

6.3    Heat IP Representations and Covenants. Heat hereby represents, warrants, and covenants that, except
as disclosed in the Disclosure Schedules: 
 (a)    it owns or Controls all of its interest in the Provisional
Applications and Background Fusion Protein Know-How existing as of the Effective Date; 

(b)    all of its interest in and to the Provisional Applications and Background Fusion Protein Know-How are and will remain during the Term of this Agreement free and clear of Liens, other than as set forth under this Agreement; 

(c)    to the best of its knowledge the performance of its activities and obligations under this Agreement do not rely
upon, incorporate or otherwise infringe any Third Party IP Rights; however, Heat has not conducted any searches of Third Party IP Rights to date; 

(d)    all of its employees, agents, consultants and other relevant Persons with whom Heat has contracted, or will
contract (subject to Shattuck’s prior written consent), to perform any activities on Heat’s behalf in connection with the Research Services, have assigned, or will assign, to Heat all of their right, title and interest in any Inventions
arising from the performance of such activities; 
 (e)    it has the right and authority to grant the licenses set
forth in Sections 2.1 and 2.2; 
 (f)    it has no knowledge of any legal suit or proceeding by any Third Party
contesting the ownership or validity of the Provisional Applications and Background Fusion Protein Know-How, or alleging that such Provisional Applications and Background Fusion Protein Know-How rights are infringing, or would infringe if granted, any Third Party IP Rights; 

(g)    it has the necessary experience and expertise to manage and/or perform all of its obligations under Research
Services Plan; 
 (h)    it has not transferred and will not during the Term transfer any material embodiment of the
Provisional Applications and Background Fusion Protein Know-How, to a Third Party without Shattuck’s prior written approval; and 

  
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 (i)    during the Term, Heat will not knowingly encumber or
diminish the rights granted, or the rights that may be granted to Shattuck pursuant to this Agreement. 

6.4    Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, OR ANY OTHER AGREEMENT CONTEMPLATED
HEREUNDER, NEITHER PARTY MAKES ANY REPRESENTATIONS OR EXTENDS ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. THE REPRESENTATIONS AND WARRANTIES AND DISCLAIMERS DESCRIBED IN THIS ARTICLE 6 ARE EXCLUSIVE AND SUPERSEDE ANY OTHER WARRANTY
LIMITATIONS AND DISCLAIMERS GIVEN BY EITHER PARTY WITH RESPECT TO THE SUBJECT MATTER CONTAINED HEREIN, WHETHER WRITTEN OR ORAL. EACH PARTY EXPRESSLY DISCLAIMS ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND OF FITNESS FOR A PARTICULAR PURPOSE OR USE, NON-INFRINGEMENT, VALIDITY AND ENFORCEABILITY OF PATENTS, OR THE PROSPECTS OR LIKELIHOOD OF DEVELOPMENT OR COMMERCIAL SUCCESS OF ANY PRODUCT. 

6.5 Limitation of Liability. EXCEPT FOR LIABILITY FOR BREACH OF ARTICLE 8 (CONFIDENTIALITY), GROSS NEGLIGENCE OR INTENTIONAL
MISCONDUCT, NO PARTY OR ANY OF ITS AFFILIATES WILL BE ENTITLED TO RECOVER FROM THE OTHER PARTY ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, INDIRECT, AGGRAVATED, EXEMPLARY OR PUNITIVE DAMAGES (INCLUDING LOST PROFITS, BUSINESS OR GOODWILL) IN CONNECTION
WITH THIS AGREEMENT, REGARDLESS OF WHETHER SUCH DAMAGES ARE FORESEEABLE, AND WHETHER BASED UPON A CLAIM OR ACTION OF CONTRACT, WARRANTY, NEGLIGENCE, STRICT LIABILITY OR OTHER TORT, OR OTHERWISE, ARISING OUT OF THIS AGREEMENT. 

ARTICLE 7 

INDEMNIFICATION AND INSURANCE 

7.1    Indemnification of Shattuck. Heat will indemnify and hold harmless Shattuck [***] (the
“Shattuck Indemnitees”) from and against any and all Losses from any Third Party Claims incurred by any Shattuck Indemnitee, arising from, or occurring as a result of (a) [***] or (b) [***]. The foregoing indemnification obligation
will not apply to the extent such Third Party Claim arose out of or resulted from or is attributable to any [***]. 

7.2    Indemnification of Heat. Shattuck will indemnify and hold harmless Heat [***] (the “Heat
Indemnitees”) from and against any and all Losses from any Third Party Claims incurred by any Heat Indemnitee, arising from, or occurring as a result of (a) [***] or (b) [***]. The foregoing indemnification obligation will not apply to the
extent such Third Party Claim arose out of or resulted from or is attributable to any [***]. 

7.3    Procedure. If a Shattuck Indemnitee or a Heat Indemnitee (each an “Indemnitee”)
intends to claim indemnification under this Article 7, it will promptly inform the indemnifying Party (the “Indemnitor”) in writing of any Third Party Claim, in respect of which the Indemnitee intends to claim such indemnification.
The Indemnitee will provide the 

  
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Indemnitor with reasonable assistance, at the Indemnitor’s expense, in connection with the defense of the Third Party Claim for which indemnity is being sought. The Indemnitee may
participate in and monitor such defense with counsel of its own choosing at its sole expense; provided, however, the Indemnitor will have the right to assume and conduct the defense of the Third Party Claim with counsel of its choice. The
Indemnitor will not settle any Third Party Claim without the prior written consent of the Indemnitee, not to be unreasonably withheld or delayed, unless the settlement involves only the payment of money. So long as the Indemnitor is actively
defending the Third Party Claim in good faith, the Indemnitee will not settle any such Third Party Claim without the prior written consent of the Indemnitor. If the Indemnitor does not assume and conduct the defense of the Third Party Claim as
provided above, (a) the Indemnitee may defend against, and consent to the entry of any judgment or enter into any settlement with respect to the Third Party Claim in any manner the Indemnitee may deem reasonably appropriate (and the Indemnitee
need not consult with, or obtain any consent from, the Indemnitor in connection therewith), and (b) the Indemnitor will remain responsible to indemnify the Indemnitee as provided in this Article 7. The failure to deliver written notice to the
Indemnitor within a reasonable time after the commencement of any action with respect to a Third Party Claim will only relieve the Indemnitor of its indemnification obligations under this Article 7 if and to the extent the Indemnitor is actually
prejudiced thereby. 
 7.4    Insurance. Each Party will maintain, at its cost, reasonable insurance
against liability and other risks associated with its activities contemplated by this Agreement, including but not limited to its indemnification obligations herein, in such amounts and on such terms as are customary for prudent practices for
biotechnology companies of similar size and with similar resources in the pharmaceutical industry for the activities to be conducted by it under this Agreement. 

ARTICLE 8 

CONFIDENTIALITY 

8.1    Confidential Information. Other than as expressly set forth herein, Shattuck and Heat each undertakes
to treat and to maintain and to ensure that their Representatives will treat and maintain, in strict confidence and secrecy, the Confidential Information, will keep in confidence the existence and contents of this Agreement, and will not disclose,
publish, or disseminate in any manner, any Confidential Information to a Third Party other than to those of its Representatives with a need to know the same for the purpose of performing its activities and obligations under this Agreement (the
“Purpose”). Shattuck and Heat each agree to be responsible for any use or disclosure of the other Party’s Confidential Information to any of its Representatives. 

8.2    Non-Disclosure Obligations. Shattuck and Heat each will: 

(a)    safeguard and keep secret all of the other Party’s Confidential Information, and will not directly or
indirectly disclose to any Third Party such Confidential Information without written permission of the Discloser and 

  
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 (b)    in performing its duties and obligations hereunder, use at least
the same degree of care as it does with respect to its own confidential information of like importance but, in any event, at least reasonable care. 

8.3    Exclusions. The undertakings and obligations under Sections 8.1 and 8.2 will not apply to any part of
the other Party’s Confidential Information which: 
 (a)    was known to the Recipient prior to disclosure by the
Discloser, as evidenced by contemporaneous written records; 
 (b)    was generally available to the public prior to
disclosure to the Recipient; 
 (c)    is disclosed to Recipient by a Third Party who is not bound by any
confidentiality obligation, having a legal right to make such disclosure; 
 (d)    has become, through no act or
failure to act on the part of the Recipient, public information or generally available to the public; 
 (e)    was
independently developed by the Recipient without reference to or reliance upon such Confidential Information; 

(f)    is required to be disclosed by the Recipient by law, by court order, or governmental regulation (including
securities laws and/or exchange regulations), provided that the Recipient gives the Discloser reasonable notice prior to any such disclosure and reasonably cooperates (at the Discloser’s expense) with the Discloser to assist the Discloser in
obtaining a protective order or other suitable protection from disclosure (if available) with respect to such Confidential Information. Notwithstanding the foregoing, in the event that any Party is required to disclose Confidential Information
pursuant to obligations as a publicly-traded company, then, prior to such disclosure, the text of such disclosure will be provided to the Discloser hereto for its comment and review. The Parties will use good faith efforts to determine mutually
agreeable disclosure; however, the Party with obligations as a publicly-traded company will have the final authority to make decisions on its disclosure obligations as a publicly-traded company. 

8.4    Irreparable Harm. The Parties acknowledge that each Party’s respective Confidential Information
is of special and unique significance to each of them and that any unauthorized disclosure or use of the Confidential Information could cause irreparable harm and significant injury to the Discloser, which may be difficult to ascertain. Accordingly,
any breach of this Agreement may entitle the aggrieved Party, in addition to any other right or remedy that it may have available to it by law or in equity, to remedies of injunction, performance and other relief, including recourse in a court of
law. 
 8.5    Notice. Each Party agrees to inform the other Party of any breach or threatened breach of
the provisions hereof by its Representatives. 
 8.6    Name. Neither Party will use the name of the other
Party or its Affiliates in any publicity, press release, advertising or news without the prior written consent such other Party or its Affiliates, as applicable. However, if either Party has disclosure obligations as a publicly-traded company, the
other Party’s name may be used as is necessary to comply with such disclosure obligations. 

  
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 8.7    Publications. Heat will not publish Publications
without the prior review and written approval of Shattuck. Heat will submit all proposed Publications to Shattuck for review by Shattuck at least [***] prior to (i) submission of an original manuscript for publication, (ii) abstract
submission for poster or podium presentation, (iii) an oral or poster presentation, or (iv) any other Publication (including any press release), and Heat will not publish and such proposed Publication without Shattuck’s prior written
consent. Heat will consider Shattuck’s comments and suggestions in good faith and, in any event, Heat will not publish any Publication that discloses Shattuck’s Confidential Information or would have a negative effect on Shattuck’s IP
Rights. The Parties recognize that Heat has certain disclosure obligations as a publicly-traded company that cannot be abrogated by this Agreement. If a disclosure by Heat is required, the Parties will work together in good faith to determine a
mutually agreeable disclosure; however, Heat will have the final authority to make decisions on its disclosure obligations as a publicly-traded company and this Agreement will not be interpreted as preventing Heat from making any disclosure that its
counsel deems to be necessary to comply with applicable rules and regulations. 
 8.8    Survival. The
provisions relating to confidentiality in this Article 8 will remain in effect during the Term and for a period of [***] after the expiration or termination of the Term. 

ARTICLE 9 
 TERM AND
TERMINATION 
 9.1    Term. The term of this Agreement will begin on the Effective Date and continue
until the later of (1) twenty (20) years following the Effective Date and (2) expiration of the last to expire Royalty Term, unless earlier terminated in accordance with this Article 9 or extended by the Parties by written agreement (the
“Term”), and will continue in full force and effect during the Term. 
 9.2    Termination
for Cause. Shattuck and Heat will each have the right to terminate this Agreement before the end of the Term upon written notice (i) by Shattuck if Heat is in material breach of this Agreement, (ii) by Heat if Shattuck is in material
breach of this Agreement, and, in each case, such breaching Party has not cured such breach within ninety (90) days after notice is received by such breaching Party regarding such breach. Any such termination will become effective at the end of
such ninety-day period unless the breaching Party has cured any such breach prior to the end of such period. 

9.3    Termination for Insolvency. Either Party may terminate this Agreement if, at any time, the other
Party files in any court or agency pursuant to any statute or regulation of any state or country a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of such Party or of
substantially all of its assets; or if such Party proposes a written agreement of composition or extension of substantially all of its debts; or if such Party will be served with an involuntary petition against 

  
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it, filed in any insolvency proceeding, and such petition will not be dismissed within [***] after the filing thereof; or if such Party will propose or be a party to any dissolution or
liquidation; or if such Party will make an assignment of substantially all of its assets for the benefit of creditors; or if such Party becomes unable to pay its material debts as they become due. 

9.4    Consequences of Termination 

(a)    Accrued Obligations. The expiration or termination of this Agreement, for any reason, will not
release Heat or Shattuck from any liability which, at the time of such expiration or termination, has already accrued to such Party or which is attributable to a period prior to the effective date of such expiration or termination, nor will any
expiration or termination of this Agreement preclude Heat or Shattuck from pursuing all rights and remedies it may have under this Agreement, at law or in equity, with respect to breach of this Agreement. 

(b)    Rights Upon Bankruptcy. All rights and licenses granted under or pursuant to this Agreement are, and
will otherwise be deemed to be, for purposes of Bankruptcy Laws, licenses of rights to “intellectual property” as defined under the Bankruptcy Laws. If a case is commenced during the Term by or against a Party under Bankruptcy Laws then,
unless and until this Agreement is rejected as provided in such Bankruptcy Laws, such Party (in any capacity, including debtor-in-possession) and its Successors and
assigns (including, a Title 11 trustee) will perform all of the obligations provided in this Agreement to be performed by such Party. If a case is commenced during the Term by or against a Party under the Bankruptcy Laws, this Agreement is rejected
as provided in the Bankruptcy Laws and one of the other Parties elects to retain its rights hereunder as provided in the Bankruptcy Laws, then the Party subject to such case under the Bankruptcy Laws (in any capacity, including debtor-in-possession) and its Successors and assigns (including, a Title 11 trustee), will provide to such other Party copies of all information necessary for such other Party
to prosecute, maintain and enjoy its rights under the terms of this Agreement promptly upon such other Party’s written request therefor. All rights, powers and remedies of the non-bankrupt Parties as
provided herein are in addition to and not in substitution for any and all other rights, powers and remedies now or hereafter existing at law or in equity (including, the Bankruptcy Laws) in the event of the commencement of a case by or against a
Party under the Bankruptcy Laws. It is the intention and understanding of the Parties to this Agreement that the rights granted to the Parties under this Section 9.4(b) are essential to the Parties’ respective businesses and the Parties
acknowledge that damages are not an adequate remedy. 
 (c)    Shattuck’s Rights Upon Termination. In
the event that Shattuck terminates this Agreement under Section 9.2 based on Heat’s material breach, Heat will assign, and does hereby assign to Shattuck or its designee, all right, title, and interest in its interest in the Provisional
Applications. 
 (d)    Survival. Expiration or termination of this Agreement will not relieve the Parties
of any rights or obligations accruing prior to such expiration or termination. In addition, upon expiration or termination of this Agreement, all rights and obligations of the Parties under this Agreement will terminate, except those described in
the following Sections and Articles: 4.8, 5.2(a)(i) and (ii), 6.4, 6.5, 7, 8, 9.4, and 11. 

  
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 ARTICLE 10 

DILIGENCE REPORTS 
 10.1
Shattuck agrees to provide annual reports to Heat commencing the first (1st) anniversary of the Effective Date, in which Shattuck will inform Heat of its progress in researching and developing
at least one Product, as required under Section 2.3. Such reports will be due annually, on the anniversary of the Effective Date during the term of this Agreement. In the event that Heat undergoes a Change of Control Event and the Successor
owns or Controls a Competitive Product, as provided in Section 2.4, Shattuck will have no further obligation to provide annual reports under this Article 10. 

MISCELLANEOUS 
 11.1
Governing Law. This Agreement is governed by, and will be construed in accordance with, the laws of New York without regard to its conflict of law rules. The Parties agree that by executing this Agreement, they have each consented to the
exclusive jurisdiction of the federal and state courts of New York, New York. 
 11.2 Waiver of Breach. No delay or waiver by any
Party of any condition or term in any one or more instances will be construed as a further or continuing waiver of such condition or term or of another condition or term. 

11.3 Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments, and to perform all such other
acts, as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement. 
 11.4 Performance by
Affiliates. To the extent that this Agreement imposes obligations on Affiliates of a Party, such Party agrees to cause its Affiliates to perform such obligations. Each Party will remain liable hereunder for the actions of its Affiliates under
this Agreement. 
 11.5 Modification. No amendment or modification of any provision of this Agreement will be effective unless in a
prior writing signed by all Parties hereto. No provision of this Agreement will be varied, contradicted or explained by any oral agreement, course of dealing or performance or any other matter not set forth in an agreement in writing and signed by
all Parties hereto. 
 11.6 Severability. In the event any provision of this Agreement is held invalid, illegal or unenforceable in
any jurisdiction, the Parties will negotiate in good faith and enter into a valid, legal and enforceable substitute provision that most nearly reflects the original intent of the Parties. All other provisions of this Agreement will remain in full
force and effect in such jurisdiction. Such invalidity, illegality or unenforceability will not affect the validity, legality or enforceability of such provision in any other jurisdiction. 

11.7 Entire Agreement. This Agreement (including the Exhibit attached hereto and any letter delivering information referenced herein)
constitutes the entire agreement between the 

  
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Parties relating to the subject matter hereof and supersedes and cancels all previous express or implied agreements and understandings, negotiations, writings and commitments, either oral or
written, in respect of the subject matter hereof. Each of the Parties acknowledges and agrees that in entering into this Agreement, and the documents referred to herein, it does not rely on, and will have no remedy in respect of, any statement,
representation, warranty or understanding (whether negligently or innocently made) of any Person (whether party to this Agreement or not) other than as expressly set forth in this Agreement. Nothing in this clause will operate to limit or exclude
any liability for fraud. 
 11.8 No Third Party Beneficiaries. No Person other than the Parties and their respective permitted
Successors and assigns hereunder will be deemed an intended beneficiary hereunder, nor have any right to enforce any obligation of any Party to this Agreement. 

11.9 Notices. Any notice or communication required or permitted under this Agreement will be in writing in the English language,
delivered personally, sent by internationally-recognized courier, or sent by registered or certified mail, postage prepaid to the following addresses of the Parties (or such other address for a Party as may be at any time thereafter specified by
like notice): 
  

			
	 To Heat:

[***]
	  	 To Shattuck:

[***]

		
	 with a copy to:

[***]
	  	 with a copy to:

[***]

 Any such notice will be deemed to have been given (a) when delivered if personally delivered; (b) on the [***]
Business Day after dispatch if sent by internationally-recognized overnight courier; and/or (c) on the [***] Business Day following the date of mailing if sent by mail or other internationally-recognized courier. 

11.10 Assignment. Neither Party may assign its rights and obligations under this Agreement without the prior written consent of the
other Party, provided, however, that each Party may assign its rights and obligations under this Agreement to an Affiliate or Successor without first obtaining the written consent of the other Party; provided that any such Affiliate or Successor
must agree in writing to assume all rights and obligations of the assigning Party under this Agreement. Any assignment not in accordance with this Section 11.10 will be null and void. Except as otherwise expressly provided herein, the
provisions hereof will be binding upon and inure to the benefit of the Parties and their respective Successors and permitted assigns. 

11.11 No Partnership or Joint Venture. Nothing in this Agreement or any action which may be taken pursuant to its terms is intended, or
will be deemed, to establish a joint venture or partnership between Shattuck and Heat. Neither Party to this Agreement will have 

  
 22 

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 
any express or implied right or authority to assume or create any obligations on behalf of, or in the name of, any other Party, or to bind any other Party to any contract, agreement or
undertaking with any Third Party. 
 11.12 Interpretation. The captions to the several Articles and Sections of this Agreement are
not a part of this Agreement but are included for convenience of reference and will not affect its meaning or interpretation. In this Agreement (a) the word “including” will be deemed to be followed by the phrase “without
limitation” or like expression; (b) the singular will include the plural and vice versa; (c) masculine, feminine and neuter pronouns and expressions will be interchangeable. 

11.13 Counterparts. This Agreement may be executed in any number of counterparts each of which will be deemed an original, and all of
which together will constitute one and the same instrument. 
 [Signature page follows] 

  
 23 

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

  

					
	Heat Biologics, Inc.	  		  	Shattuck Labs, Inc.
			
	 By: /s/ Jeffrey Wolf
	  		  	 By: /s/ Josiah Hornblower

	Name: Jeffrey Wolf	  		  	Name: Josiah Hornblower
	Title: CEO	  		  	Title: President

  
 24 

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 

 
 November 25, 2016 

Jeffrey Wolf 
 Chief Executive Officer 

Heat Biologics, Inc. 
 801 Capitola Dr. Bay 12 

Durham, NC 27713 
 Re: Extension of Research Term Through
December 31, 2016  
 Dear Jeff: 

Reference is made to the Exclusive License Agreement effective June 3, 2016 between Shattuck Labs, Inc. and Heat Biologics, Inc. (the
“Agreement”). Capitalized words used but not defined herein shall have the meaning ascribed to such terms in the Agreement. 
 Shattuck and
Heat agree that the Research Term shall be extended through December 31, 2016, and the Labor Funding shall be increased to reflect the extended term by a pro-rated amount of the [***] rate set forth in
Section 3.2 of the Agreement. 
 This side letter (the “Side Letter) shall be subject to the terms and conditions of the Agreement,
provided that, to the extent that the terms set forth in this Side Letter conflict with the terms of the Agreement, the terms of this Side Letter shall govern and control. 
  

					
	AGREED TO BY:	 		  	SHATTUCK LABS, INC.

  

			
	By:	 	 /s/ Josiah Hornblower

	Josiah Hornblower
	President & Chief Executive Officer
		
		 	HEAT BIOLOGICS, INC
		
	By:	 	 /s/ Jeffrey Wolf

	Jeffrey Wolf
	Chief Executive Officer

  
 1 

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 AMENDMENT NO. 1 

TO LICENSE AGREEMENT 
 This
Agreement and Amendment No. 1 to License Agreement (this “First Agreement and Amendment”) is made as of December 19, 2016 (“First Amendment Effective Date”) by and between Shattuck Labs, Inc.
(“Shattuck”) and Heat Biologics, Inc. (“Heat”). Each of Shattuck and Heat may be referred to herein as a “Party” and together as the “Parties”. 

WHEREAS, the Parties entered into the Exclusive License Agreement, effective as of June 3, 2016 (the “License
Agreement”) and 
 WHEREAS, the Parties desire to amend the License Agreement in writing the definition of “Provisional
Applications,” as set forth in Section 1.40, as agreed upon herein. 
 NOW THEREFORE, in consideration of the premises and the
mutual covenants hereinafter set forth, the Parties agree as follows (Capitalized terms used herein, but not otherwise defined, shall have the meanings given them in the License Agreement): 

 

	1.	 Amendment to Section 1.40. Section 1.40 is hereby deleted and replaced in its
entirety as follows: 

 “Provisional Applications” means U.S. Provisional Patent Application Nos.
62/235,727, 62/263,313, and 62/372,574 and including all non-provisional applications claiming priority therefrom, divisions, continuations,
continuations-in-part, supplemental protection certifications, extensions, renewals, reissues, reexaminations, post-grant proceedings thereof, and any foreign
counterparts and equivalents of such provisional applications. 
  

	2.	 Entire Agreement. Except as expressly amended hereby, all other terms and conditions of the License
Agreement shall remain in full force and effect. 

  

	3.	 Counterparts. This First Agreement and Amendment may be executed in one or more counterparts, each of
which shall be an original and all of which taken together shall constitute one and the same agreement. 

 [Remainder of
page intentionally left blank] 

  

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 IN WITNESS WHEREOF, the parties hereto have executed this First Agreement and Amendment as of the First
Amendment Effective Date. 
  

	
	SHATTUCK LABS, INC.
	
	 By: /s/ Josiah
Hornblower                                

	 Name: Josiah Hornblower

	 Title: CEO

	
	HEAT BIOLOGICS, INC.
	
	 By: /s/ Jeffrey
Wolf                                        

	 Name: Jeffrey Wolf

	 Title: CEO

  

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 AMENDMENT NO. 2 TO THE
EXCLUSIVE LICENSE AGREEMENT 
 This Amendment No. 2 (the “Amendment”)
effective as of December 31, 2016 (the “Amendment Effective Date”) to the Exclusive License Agreement effective as of June 3, 2016, as amended by the Side Letter dated November 25, 2016 and Amendment No. 1
effective as of December 19, 2016 (collectively, the “Agreement”) is made by and between Shattuck Labs, Inc. (“Shattuck”) and Heat Biologics, Inc. (“Heat”). Each of Shattuck and Heat may be
referred to herein as a “Party” and together as the “Parties”. 
 WHEREAS, the Parties entered the
Exclusive License Agreement effective as of June 3, 2016; 
 WHEREAS, the Parties extended the term of the Exclusive License Agreement
through December 31, 2016 in the Side Letter dated November 25, 2016; 
 WHEREAS, the Parties amended the definition of
“Provisional Applications” of the Exclusive License Agreement in Amendment No. 1 effective as of December 19, 2016; and 

WHEREAS, the Parties desire to amend the Agreement to amend the definition of “Research Services Liaison”, extend the “Research
Term”, and amend the definition of “Labor Funding”; 
 NOW THEREFORE, in consideration of the above provisions and the mutual
agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: 
  

	 	1.	 Intent. Except as expressly provided in this Amendment, the Agreement will remain unchanged and in full
force and effect in accordance with its original terms. Capitalized terms not defined in this Amendment shall have the meaning set forth in the Agreement. 

  

	 	2.	 Section 1.49. Section 1.49 is hereby deleted and replaced by the following:

 “Research Services Liaison” means George Fromm, Ph.D., or a similarly-skilled scientist who
replaces Dr. Fromm should he no longer be employed by Heat. 
  

	 	3.	 Section 3.1(a). The first sentence of Section 3.1(a) is hereby deleted and
replaced by the following: 

 Heat will carry out the Research Services as set forth in Exhibit A from the Effective Date
through January 31, 2017 (the “Research Term”). 
  

	 	4.	 Section 3.2. The first two sentences of Section 3.2 are hereby deleted and
replaced by the following: 

 As compensation for providing the labor required to conduct the Research Services,
Shattuck will make payments to Heat at a rate of (a) [***] during the first six months of the Research Term, (b) [***] for the period of December 4, 2016 to December 31, 2016, and (c) [***]
for the period of January 1, 2017 to January 31, 2017 (collectively, the “Labor Funding”). 

  

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 IN WITNESS WHEREOF, the Parties hereto, intending legally to be bound hereby, have each caused this Amendment
to be executed by their duly authorized representatives effective as of the Amendment Effective Date. 
  

	
	SHATTUCK LABS, INC.
	
	 By: /s/ Josiah
Hornblower                        

	 Josiah Hornblower

	 President & Chief Executive Officer

	
	HEAT BIOLOGICS, INC.
	
	 By : /s/ Jeffrey
Wolf                                

	 Jeffrey Wolf

	 Chief Executive Officer

  

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 AMENDMENT NO. 3 TO THE
EXCLUSIVE LICENSE AGREEMENT 
 This Amendment No. 3 (the “Amendment
No. 3”) effective as of March 8, 2017 (the “Amendment Effective Date”) to the Exclusive License Agreement effective as of June 3, 2016, as amended by the Side Letter dated November 25,
2016, Amendment No. 1 effective as of December 19, 2016, and Amendment No. 2 effective as of December 31, 2016 (collectively, the “Agreement”) is made by and between Shattuck Labs, Inc.
(“Shattuck”) and Heat Biologics, Inc. (“Heat”). Each of Shattuck and Heat may be referred to herein as a “Party” and together as the “Parties”. 

WHEREAS, the Parties entered into the Exclusive License Agreement effective as of June 3, 2016; 

WHEREAS, the Parties extended the Research Term of the Exclusive License Agreement through December 31, 2016 in the Side Letter dated
November 25, 2016; 
 WHEREAS, the Parties amended the definition of Provisional Applications of the Exclusive License Agreement in
Amendment No. 1 effective as of December 19, 2016; 
 WHEREAS, the Parties amended the definition of Research Services Liaison,
extended the Research Term, and amended the definition of Labor Funding in Amendment No. 2 effective as of December 31, 2016; and 

WHEREAS, the Parties desire to amend the Agreement to document the termination of the Research Services and confirm Shattuck’s ownership
of certain Inventions developed pursuant to the Research Services; 
 NOW THEREFORE, in consideration of the above provisions and the mutual
agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: 
  

	 	1.	 Intent. Except as expressly provided in this Amendment, the Agreement will remain unchanged and in full
force and effect in accordance with its original terms. Capitalized terms not defined in this Amendment shall have the meaning set forth in the Agreement. 

  

	 	2.	 Termination of Research Services. The Parties hereby agree and confirm the Research Services were
completed by Heat as of January 31, 2017. Heat is no longer performing any Research Services on behalf of Shattuck, and Heat will not perform any additional research services for Shattuck unless agreed to by the Parties in writing. For clarity,
the Parties agree that Shattuck does not owe any Research Funding payments to Heat under Sections 3.2 or 3.3 of the Agreement. 

  

	 	3.	 Shattuck’s Ownership of Research Services IP and Research Services Inventions. The Parties agree
and confirm that Shattuck is the sole owner of, and Heat hereby assigns to Shattuck, the Research Services Inventions and Research Services IP. Heat will execute confirmatory assignments of Research Services Inventions concurrently with this
Amendment No. 3. The Research Services Inventions and Research Services IP include the following: 

  
 1 

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

	 	a.	 Research Services Inventions (including all US and foreign filings which claim priority to the below
listed applications) 

  

									
	 Title
	  	Country	  	Patent Appn. No.	 	  	Patent No.
	 CHIMERIC PROTEINS COMPRISING
TYPE I AND TYPE II
EXTRACELLULAR
DOMAINS AND
USES THEREOF
	  	US	  	 	62/464,002	 	  	N/A
	 CSF1R-BASED CHIMERIC
PROTEINS
	  	US	  	 	62/463,997	 	  	N/A
	 VSIG8-BASED CHIMERIC
PROTEINS
	  	US	  	 	62/463,999	 	  	N/A

  

	 	b.	 Research Services IP. All data generated by Heat (by itself or in conjunction with third parties) at
Shattuck’s request, including without limitation, all data generated in connection with the Research Services Inventions (including ELISA, Western blot, affinity, flow cytometry, functional data or mouse data), and all data related to
manufacturing generated from DNA 2.0 or by Lake Pharma or KBI Biopharma. 

 For the avoidance of doubt, the Parties acknowledge that
neither the Research Services IP nor Research Services Inventions directly relate to any Heat Existing Programs, as defined in Section 1.21 of the Agreement. 

[Signature page follows] 

  
 2 

 [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS
BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. 
  

 IN WITNESS WHEREOF, the Parties hereto, intending legally to be bound hereby, have each caused this Amendment
No. 3 to be executed by their duly authorized representatives effective as of the Amendment Effective Date. 
  

	
	 SHATTUCK LABS, INC.

	
	 By: /s/ Josiah
Hornblower                            

	 Josiah Hornblower

	 President & Chief Executive Officer

	
	 HEAT BIOLOGICS, INC.

	
	 By: /s/ Jeffrey
Wolf                                    

	 Jeffrey Wolf

	 Chief Executive Officer

  
 3EX-10.13

 Exhibit 10.13 

LEASE AGREEMENT BETWEEN 

PARMER RTP, LLC, 
 AS
LANDLORD, AND 
 SHATTUCK LABS, INC., 

AS TENANT 
 DATED
APRIL 17, 2018 
 DURHAM, NORTH CAROLINA 
  

 BASIC LEASE INFORMATION 

 

			
	Lease Date:	  	April 17, 2018
		
	Landlord:	  	PARMER RTP, LLC, a Delaware limited liability company
		
	Tenant:	  	SHATTUCK LABS, INC., a Delaware corporation
		
	Premises:	  	Suite No. 200, containing approximately 13,523 rentable square feet, in the office building commonly known as Building 15 located at 5 Moore Drive, Durham, North Carolina (the “Building”) being a part of
the Parmer RTP campus (the “Complex”). The Premises are outlined on the plan attached to the Lease as Exhibit A. The land on which the Building is located (the “Land”) is described on
Exhibit B. The term “Project” shall collectively refer to the Building, the Land and the driveways, parking facilities, and similar improvements and easements associated with the foregoing or the operation
thereof.
		
	Term:	  	One hundred twenty-four (124) full calendar months, plus any partial month from the Commencement Date to the end of the month in which the Commencement Date falls, starting on the Commencement Date and ending at 5:00 p.m. local
time on the last day of the one hundred twenty-fourth (124th) full calendar month following the Commencement Date, subject to adjustment and earlier termination as provided in the Lease.
		
	Commencement Date:	  	September 1, 2018.
		
	Basic Rent:	  	Basic Rent shall be the following amounts for the following periods of time:

  

									
	 Lease Month
	  	Annual Basic Rent Rate
Per Rentable Square
Foot*	 	  	Monthly Basic Rent*	 
	 1 — 8
	  	$	0.00	 	  	$	0.00	 
	 9 — 20
	  	$	21.00	 	  	$	23,665.25	 
	 21 — 32
	  	$	21.63	 	  	$	24,375.21	 
	 33 — 44
	  	$	22.28	 	  	$	25,106.46	 
	 45 — 56
	  	$	22.95	 	  	$	25,859.66	 
	 57 — 68
	  	$	23.64	 	  	$	26,635.45	 
	 69 — 80
	  	$	24.34	 	  	$	27,434.51	 
	 81 — 92
	  	$	25.08	 	  	$	28,257.55	 
	 93 — 104
	  	$	25.83	 	  	$	29,105.27	 
	 105 — 116
	  	$	26.60	 	  	$	29,978.43	 
	 117 — 124
	  	$	27.40	 	  	$	30,877.78	 

  
 i 

			
		 	 As used herein, the term “Lease Month” means each calendar month during the Term (and if the Commencement Date does
not occur on the first day of a calendar month, the period from the Commencement Date to the first day of the next calendar month shall be included in the first Lease Month for which Basic Rent is payable for purposes of determining the duration of
the Term and the monthly Basic Rent rate applicable for such partial month).
  

*   Notwithstanding anything to the contrary in the Basic Rent schedule set forth above, for the
period of time beginning on the Commencement Date and continuing until the fitness center and the Complex “treehouse” conference center have been substantially completed by Landlord in accordance with the plans and specifications therefor
and are available for use by Tenant and other tenants of the Project (“Complex Substantial Completion”) then the applicable Annual Basic Rent Rate shall not increase by more than two percent (2%) per year. Such period of time
is referred to herein as the “2% Cap Period”.

		
	Additional Rent:	 	Tenant’s Proportionate Share of Operating Costs and Taxes.
		
	Rent:	 	Basic Rent, Additional Rent, and all other sums that Tenant may owe to Landlord or otherwise be required to pay under the Lease.
		
	Security Deposit:	 	$30,877.78.
		
	Permitted Use:	 	Research and development, laboratory, office and/or any other purpose or use allowed under applicable Law.
		
	Tenant’s Proportionate Share:	 	29.81%, which is the percentage obtained by dividing (a) the number of rentable square feet in the Premises as stated above by (b) the 45,359 rentable square feet in the Building. Landlord and Tenant stipulate that the
number of rentable square feet in the Premises and in the Building set forth above is conclusive and shall be binding upon them.
		
	Initial Liability Insurance Amount:	 	$3,000,000

  
 ii 

					
	Tenant’s Address:	  	 For all Notices:
  

Shattuck Labs, Inc. 
3317 Bowman Ave. 
Austin, TX 78703 
Attn: CEO and General Counsel
	  	 With a copy to:
  

Shattuck Labs, Inc. 
PO Box 301509 
Austin, TX 78703 
Attn: CEO and General Counsel

 
 and
  

Shattuck Labs, Inc. 
5 Moore Drive, Suite 200 
Durham, North Carolina 27709

			
	Landlord’s Address:	  	 For all Notices:
  

Partner RTP, LLC
 c/o Karlin Real Estate 
11755 Wilshire Blvd.,
Suite 1400 
Los Angeles, California 90025 
Attention:Matthew Schwab
	  	 With a copy to:
  

Karlin Real Estate 
11755 Wilshire Blvd., Suite 1400 
Los Angeles, California 90025 
Attention:Nancy Lee

 The foregoing Basic Lease Information is incorporated into and made a part of the Lease identified above. If any conflict
exists between any Basic Lease Information and the Lease, then the Lease shall control. 

  
 iii 

 TABLE OF CONTENTS 
  

									
	 	  	 	  	 	  	Page No.	 
	1.	  	Definitions and Basic Provisions	  	 	1	 
			
	2.	  	Lease Grant	  	 	1	 
			
	3.	  	Tender of Possession	  	 	1	 
			
	4.	  	Rent	  	 	2	 
				
		  	(a)	  	Payment	  	 	2	 
		  	(b)	  	Operating Costs; Taxes	  	 	2	 
		  	(c)	  	Cap on Operating Costs and Taxes for 2018 and 2019	  	 	5	 
		  	(d)	  	Cap on Controllable Operating Costs for 2021 and Subsequent Years	  	 	5	 
		  	(e)	  	Inspection and Audit Rights	  	 	5	 
			
	5.	  	Delinquent Payment; Handling Charges	  	 	6	 
			
	6.	  	Security Deposit	  	 	6	 
			
	7.	  	Landlord’s Obligations	  	 	6	 
				
		  	(a)	  	Services	  	 	6	 
		  	(b)	  	Utilities Services	  	 	7	 
		  	(c)	  	Restoration of Services; Abatement	  	 	7	 
			
	8.	  	Improvements; Alterations; Repairs; Maintenance	  	 	7	 
				
		  	(a)	  	Improvements; Alterations	  	 	7	 
		  	(b)	  	Repairs; Maintenance	  	 	8	 
		  	(c)	  	Performance of Work	  	 	8	 
		  	(d)	  	Mechanic’s Liens	  	 	9	 
			
	9.	  	Use; Compliance with Law	  	 	9	 
				
		  	(a)	  	Use	  	 	9	 
		  	(b)	  	Compliance with Law	  	 	10	 
			
	10.	  	Assignment and Subletting	  	 	10	 
				
		  	(a)	  	Transfers	  	 	10	 
		  	(b)	  	Consent Standards	  	 	11	 
		  	(c)	  	Request for Consent	  	 	11	 
		  	(d)	  	Conditions to Consent	  	 	11	 
		  	(e)	  	Attornment by Subtenants	  	 	12	 
		  	(f)	  	Cancellation	  	 	12	 
		  	(g)	  	Additional Compensation	  	 	12	 
		  	(h)	  	Permitted Transfers	  	 	12	 

  
 iv 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	  	 	  	 	  	Page No.	 
	11.	  	Insurance; Waivers; Subrogation; Indemnity	  	 	13	 
				
		  	(a)	  	Tenant’s Insurance	  	 	13	 
		  	(b)	  	Landlord’s Insurance	  	 	14	 
		  	(c)	  	No Subrogation; Waiver of Property Claims	  	 	15	 
		  	(d)	  	Indemnity	  	 	15	 
			
	12.	  	Subordination; Attornment; Notice to Landlord’s Mortgagee	  	 	16	 
				
		  	(a)	  	Subordination	  	 	16	 
		  	(b)	  	Attornment	  	 	16	 
		  	(c)	  	Notice to Landlord’s Mortgagee	  	 	16	 
		  	(d)	  	Landlord’s Mortgagee’s Protection Provisions	  	 	16	 
			
	13.	  	Rules and Regulations	  	 	17	 
			
	14.	  	Condemnation	  	 	17	 
				
		  	(a)	  	Total Taking	  	 	17	 
		  	(b)	  	Partial Taking - Tenant’s Rights	  	 	17	 
		  	(c)	  	Partial Taking - Landlord’s Rights	  	 	17	 
		  	(d)	  	Temporary Taking	  	 	17	 
		  	(e)	  	Award	  	 	18	 
			
	15.	  	Fire or Other Casualty	  	 	18	 
				
		  	(a)	  	Repair Estimate	  	 	18	 
		  	(b)	  	Tenant’s Rights	  	 	18	 
		  	(c)	  	Landlord’s Rights	  	 	18	 
		  	(d)	  	Repair Obligation	  	 	18	 
		  	(e)	  	Abatement of Rent	  	 	19	 
			
	16.	  	Personal Property Taxes	  	 	19	 
			
	17.	  	Events of Default	  	 	19	 
				
		  	(a)	  	Payment Default	  	 	19	 
		  	(b)	  	Intentionally Omitted	  	 	19	 
		  	(c)	  	Estoppel	  	 	19	 
		  	(d)	  	Insurance	  	 	20	 
		  	(e)	  	Mechanic’s Liens	  	 	20	 
		  	(f)	  	Other Defaults	  	 	20	 
		  	(g)	  	Insolvency	  	 	20	 
			
	18.	  	Remedies	  	 	20	 

  
 v 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	  	 	  	 	  	Page No.	 
		  	(a)	  	Termination of Lease	  	 	20	 
		  	(b)	  	Termination of Possession	  	 	20	 
		  	(c)	  	Perform Acts on Behalf of Tenant	  	 	21	 
		  	(d)	  	Alteration of Locks	  	 	21	 
			
	19.	  	Payment by Tenant; Non-Waiver; Cumulative Remedies	  	 	21	 
				
		  	(a)	  	Payment by Tenant	  	 	21	 
		  	(b)	  	No Waiver	  	 	22	 
		  	(c)	  	Cumulative Remedies	  	 	22	 
			
	20.	  	Landlord’s Lien	  	 	22	 
			
	21.	  	Surrender of Premises	  	 	22	 
			
	22.	  	Holding Over	  	 	23	 
			
	23.	  	Certain Rights Reserved by Landlord	  	 	23	 
				
		  	(a)	  	Building Operations	  	 	23	 
		  	(b)	  	Security	  	 	24	 
		  	(c)	  	Prospective Purchasers and Lenders	  	 	24	 
		  	(d)	  	Prospective Tenants	  	 	24	 
			
	24.	  	Intentionally Omitted	  	 	24	 
			
	25.	  	Miscellaneous	  	 	24	 
				
		  	(a)	  	Landlord Transfer	  	 	24	 
		  	(b)	  	Limitation of Liability	  	 	24	 
		  	(c)	  	Force Majeure	  	 	25	 
		  	(d)	  	Brokerage	  	 	25	 
		  	(e)	  	Estoppel Certificates	  	 	25	 
		  	(f)	  	Notices	  	 	25	 
		  	(g)	  	Separability	  	 	25	 
		  	(h)	  	Amendments; Binding Effect; No Electronic Records	  	 	26	 
		  	(i)	  	Quiet Enjoyment	  	 	26	 
		  	(j)	  	Entire Agreement	  	 	26	 
		  	(k)	  	Waiver of Jury Trial	  	 	26	 
		  	(l)	  	Governing Law	  	 	26	 
		  	(m)	  	Recording	  	 	26	 
		  	(n)	  	Water or Mold Notification	  	 	27	 
		  	(o)	  	Joint and Several Liability	  	 	27	 
		  	(p)	  	Financial Reports	  	 	27	 
		  	(q)	  	Landlord’s Fees	  	 	27	 
		  	(r)	  	Telecommunications	  	 	27	 

  
 vi 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	  	 	  	 	  	Page No.	 
		  	(s)	  	Confidentiality	  	 	28	 
		  	(t)	  	Authority	  	 	28	 
		  	(u)	  	Hazardous Materials	  	 	28	 
		  	(v)	  	List of Exhibits	  	 	29	 
		  	(w)	  	Prohibited Persons and Transactions	  	 	29	 
		  	(x)	  	No Invasive Testing	  	 	29	 
			
	26.	  	Lobby Directory Signage	  	 	29	 
			
	27.	  	Monument Signage	  	 	29	 
			
	28.	  	Building Signage	  	 	30	 
			
	29.	  	Expansion	  	 	30	 

  
 vii 

 LIST OF DEFINED TERMS 
  

					
	 	  	Page No	 
	 Affiliate
	  	 	1	 
	 Approval Criteria
	  	 	D-3	 
	 Architect
	  	 	D-1	 
	 Basic Lease Information
	  	 	1	 
	 Basic Rent
	  	 	i	 
	 Building
	  	 	i	 
	 Building’s Structure
	  	 	1	 
	 Building’s Systems
	  	 	1	 
	 Casualty
	  	 	18	 
	 Code Modification
	  	 	10	 
	 Commencement Date
	  	 	i	 
	 Completed Application for Payment
	  	 	D-5	 
	 Construction Allowance
	  	 	D-4	 
	 Damage Notice
	  	 	18	 
	 Default Rate
	  	 	6	 
	 Estimated Delivery Date
	  	 	1	 
	 Event of Default
	  	 	19	 
	 Extended Term
	  	 	H-1	 
	 Governmental Requirements
	  	 	10	 
	 Hazardous Materials
	  	 	28	 
	 HVAC
	  	 	6	 
	 including
	  	 	1	 
	 Initial Liability Insurance Amount
	  	 	ii	 
	 Land
	  	 	i	 
	 Landlord
	  	 	i, 1	 
	 Landlord’s Mortgagee
	  	 	16	 
	 Law
	  	 	1	 
	 Laws
	  	 	1	 
	 Lease
	  	 	1	 
	 Lease Month
	  	 	ii	 
	 Loss
	  	 	15	 
	 Mortgage
	  	 	16	 
	 OFAC
	  	 	11	 
	 Operating Costs
	  	 	2	 
	 Operating Costs and Tax Statement
	  	 	4	 
	 Permitted Transfer
	  	 	12	 
	 Permitted Transferee
	  	 	12	 
	 Permitted Use
	  	 	ii	 
	 Premises
	  	 	i	 
	 Prevailing Rental Rate
	  	 	H-1	 
	 Primary Lease
	  	 	16	 
	 Project
	  	 	i	 

  
 viii 

					
	 Rent
	  	 	ii	 
	 Repair Period
	  	 	18	 
	 Security Deposit
	  	 	ii	 
	 Space Plans
	  	 	D-1	 
	 Space Plans Delivery Deadline
	  	 	D-1	 
	 Substantial Completion
	  	 	D-4	 
	 Substantially Completed
	  	 	D-4	 
	 Taking
	  	 	17	 
	 Taxes
	  	 	4	 
	 Telecommunications Services
	  	 	27	 
	 Tenant
	  	 	i, 1	 
	 Tenant Party
	  	 	1	 
	 Tenant’s Off-Premises Equipment
	  	 	1	 
	 Tenant’s Proportionate Share
	  	 	ii	 
	 Term
	  	 	i	 
	 Total Construction Costs
	  	 	D-4	 
	 Transfer
	  	 	10	 
	 Work
	  	 	D-2	 
	 Working Drawings
	  	 	D-2	 
	 Working Drawings Delivery Deadline
	  	 	D-1	 

  

  
 ix 

 LEASE 

This Lease Agreement (this “Lease”) is entered into as of April ____, 2018, between PARMER RTP, LLC, a Delaware
limited liability company (“Landlord”), and SHATTUCK LABS, INC., a Delaware corporation (“Tenant”). 

1. Definitions and Basic Provisions. The definitions and basic provisions set forth in the Basic Lease Information (the
“Basic Lease Information”) set forth above are incorporated herein by reference for all purposes. Additionally, the following terms shall have the following meanings when used in this Lease:
“Affiliate” means any person or entity which, directly or indirectly controls, is controlled by, or is under common control with the party in question; “Building’s
Structure” means the Building’s exterior walls, roof, elevator shafts, footings, foundations, structural portions of load-bearing walls, structural floors and subfloors, and structural columns and beams;
“Building’s Systems” means the Building’s HVAC, life-safety, plumbing, electrical, and mechanical systems; “including” means including, without limitation;
“Laws” means all federal, state, and local laws, ordinances, rules and regulations, all court orders, governmental directives, and governmental orders and all interpretations of the foregoing, and all restrictive covenants
affecting this Lease or the Project, and “Law” means any of the foregoing; “Tenant’s Off-Premises Equipment” means any of
Tenant’s equipment or other property that may be located on or about the Project (other than inside the Premises); and “Tenant Party” means any of the following persons: Tenant; any assignees claiming by, through, or
under Tenant; any subtenants claiming by, through, or under Tenant; and any of their respective agents, contractors, employees, licensees, guests and invitees. 

2. Lease Grant. Subject to the terms of this Lease, Landlord leases to Tenant, and Tenant leases from Landlord, the Premises.

 3. Tender of Possession. Landlord and Tenant presently anticipate that possession of the Premises will be tendered to Tenant
in the condition required under this Lease, including without limitation HVAC in good order and working condition, within ten (10) business days following the full execution and delivery of this Lease and receipt by Landlord of all sums due at
execution and evidence of Tenant’s insurance as required hereunder (the “Estimated Delivery Date”). If Landlord is unable to tender possession of the Premises to Tenant by the Estimated Delivery Date, then (a) the
validity of this Lease shall not be affected or impaired thereby, (b) Landlord shall not be in default hereunder or be liable for damages therefor, and (c) Tenant shall accept possession of the Premises when Landlord tenders possession
thereof to Tenant. By occupying the Premises, Tenant shall be deemed to have accepted the Premises in their condition as of the date of such occupancy, subject to the performance of punch-list items that remain to be performed by Landlord, if any.
Within ten days after request by Landlord, Tenant shall execute and deliver to Landlord a letter substantially in the form of Exhibit E hereto confirming (1) the Commencement Date and the expiration date of the initial Term,
(2) that Tenant has accepted the Premises, and (3) that Landlord has performed all of its obligations with respect to the Premises (except for punch-list items specified in such letter); however, the failure of the parties to execute such
letter shall not defer the Commencement Date or otherwise invalidate this Lease. Occupancy of the Premises by Tenant prior to the Commencement Date shall be subject to all of the provisions of this Lease excepting only those requiring the payment of
Basic Rent, Additional Rent and Taxes (each as defined herein). 

  
 1 

 4. Rent. 

(a) Payment. Tenant shall timely pay to Landlord Rent, without notice, demand, deduction or set off (except as otherwise expressly
provided herein), by good and sufficient check drawn on a national banking association at Landlord’s address provided for in this Lease or as otherwise specified by Landlord and shall be accompanied by all applicable state and local sales or
use taxes. The obligations of Tenant to pay Rent to Landlord and the obligations of Landlord under this Lease are independent obligations. Rent shall be payable monthly in advance. The first monthly installment of Basic Rent shall be payable
contemporaneously with the execution of this Lease and applied to the ninth (9th) Lease Month; thereafter, Basic Rent shall be payable on the first day of each month beginning on the first day of
the tenth (10th) Lease Month of the Term. The monthly Rent for any partial month at the beginning of the Term shall equal the product of 1/365 of the annual Basic Rent (and Additional Rent) in
effect during the partial month and the number of days in the partial month, and shall be due on the Commencement Date. Payments of Rent for any fractional calendar month at the end of the Term shall be similarly prorated. 

(b) Operating Costs; Taxes. 

(1) Tenant shall pay to Landlord Tenant’s Proportionate Share of the annual Operating Costs (defined below). Prior to each
calendar year of the Term, Landlord shall make a good faith estimate of Tenant’s Proportionate Share of Operating Costs for the following calendar year or part thereof during the Term. During each calendar year or partial calendar year of the
Term, Tenant shall pay to Landlord, in advance concurrently with each monthly installment of Basic Rent, an amount equal to the estimated Tenant’s Proportionate Share of Operating Costs for such calendar year or part thereof divided by the
number of months therein. From time to time, but not more than once per calendar year, Landlord may re-estimate the amount of Tenant’s Proportionate Share of Operating Costs to be due by Tenant and
deliver a copy of the re-estimate to Tenant. Thereafter, the monthly installments of Tenant’s Proportionate Share of Operating Costs shall be adjusted in accordance with the estimations so that, by the
end of the calendar year in question, Tenant shall have paid all of Tenant’s Proportionate Share of Operating Costs as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when
actual Operating Costs are available for each calendar year. 
 (2) The term “Operating Costs” means
all expenses and disbursements (subject to the limitations set forth below) that Landlord reasonably incurs for operation and maintenance of the Project, determined in accordance with sound accounting principles consistently applied, including the
following costs: (A) wages and salaries of all on-site employees at or below the grade of general manager engaged solely in the operation, maintenance or security of the Project (together with
Landlord’s reasonable allocation of expenses of off-site employees at or below the grade of general manager who perform a portion of their services in connection with the operation, maintenance or
security of the Project), including taxes, insurance and benefits relating thereto; (B) all supplies and materials used in the operation, maintenance, repair, replacement, and security of the Project; (C) costs for improvements made to the
Project which, although capital in nature, are expected to reduce the normal operating costs (including all utility costs) of the Project, as amortized using a commercially reasonable interest rate over the time period reasonably

  
 2 

 
estimated by Landlord to recover the costs thereof taking into consideration the anticipated cost savings, as determined by Landlord using its good faith, commercially reasonable judgment, as
well as capital improvements made in order to comply with any Law hereafter promulgated by any governmental authority or any new interpretations of any Law hereafter rendered with respect to any existing Law, as amortized using a commercially
reasonable interest rate over the useful economic life of such improvements as determined by Landlord in its reasonable discretion; (D) cost of all utilities, except the cost of utilities reimbursable to Landlord by the Project’s tenants
other than pursuant to a provision similar to this Section 4(b); (E) insurance expenses; (F) repairs, replacements, and general maintenance of the Project; and (G) service, maintenance and management contracts with independent
contractors for the operation, maintenance, management, repair, replacement, or security of the Project (including alarm service, window cleaning, and elevator maintenance). Operating Costs and Taxes for the Complex may be prorated among the Project
and the other buildings of the Complex, as reasonably determined by Landlord. 
 Operating Costs shall not include costs for
(i) capital improvements made to the Building, other than capital improvements described in Section 4(b)(2)(C) and except for items which are generally considered maintenance and repair items, such as painting of common areas, replacement
of carpet in elevator lobbies, and the like; (ii) repair, replacements and general maintenance paid by proceeds of insurance or by Tenant or other third parties; (iii) interest, amortization or other payments on loans to Landlord;
(iv) depreciation; (v) leasing commissions; (vi) legal expenses for services, other than those that benefit the Project tenants generally (e.g., tax disputes); (vii) renovating or otherwise improving space for occupants of the Project or
vacant space in the Project; (viii) Taxes; (ix) federal income taxes imposed on or measured by the income of Landlord from the operation of the Project, (x) any cost or expenditure or any portion thereof for which Landlord has been
reimbursed, whether by insurance proceeds or otherwise, except reimbursements or other payments from other tenants of the Building in respect to costs and expenses which are Operating Costs; (xi) costs incurred due to violation by Landlord of
any of the terms and conditions of this Lease or any other lease relating to the Building; (xii) repairs resulting from any defect in the design or construction of the Building; (xiii) rental concessions granted to Tenant or any other
tenant of the Building; (xiv) overhead and profit increment paid to subsidiaries or other affiliates of Landlord for services to the extent that such costs of such services exceed the comparable costs for such services rendered by persons or
entities of similar skill, confidence and experience; (xv) advertising and promotional expenditures; (xvi) costs incurred in connection with the sale, financing, refinancing, mortgaging or sale of all or any portion of the Building,
including brokerage commissions, attorneys’ and accountants’ fees, closing costs, title insurance premiums, transfer taxes and interest charges; (xvii) costs, fines, interests, penalties, legal fees or costs of litigation incurred due
to the late payment of taxes, utility bills and other costs incurred by Landlord’s failure to make such payments when due; (xviii) costs incurred by Landlord for trustee fees, organizational expenses and accounting fees to the extent
relating to Landlord’s general corporate overhead and general administrative expenses; (xix) any penalties or liquidated damages that Landlord pays to Tenant under this Lease or to any other tenant under their respective leases;
(xx) costs associated with correcting any violation of law, or making renovations or alterations to the Building required in order to cause the Building to be in compliance with any applicable Laws in effect and applicable to the Property on
the date of this Lease; (xxi) costs arising out of the gross negligence or willful misconduct of Landlord, or its agents; (xxii) reserves of any kind, including, without limitation, replacement reserves and reserves for bad debts or lost
rent or any similar charge not involving the payment of money to third parties, and (xiii) costs of any utilities which are separately metered to the Premises. 

  
 3 

 (3) Tenant shall also pay Tenant’s Proportionate Share of Taxes for
each year and partial year falling within the Term. Tenant shall pay Tenant’s Proportionate Share of Taxes in the same manner as provided above for Tenant’s Proportionate Share of Operating Costs. “Taxes” means
taxes, assessments, and governmental charges or fees whether federal, state, county or municipal, and whether they be by taxing districts or authorities presently taxing or by others, subsequently created or otherwise, and any other taxes and
assessments (including non-governmental assessments for common charges under a restrictive covenant or other private agreement that are not treated as part of Operating Costs) now or hereafter attributable to
the Project or its operation, excluding, however, penalties and interest thereon and federal and state taxes on income (if the present method of taxation changes so that in lieu of or in addition to the whole or any part of any Taxes, there is
levied on Landlord a capital tax, sales tax, or use tax directly on the rents received therefrom or a franchise tax, assessment, or charge based, in whole or in part, upon such rents for the Project, then all such taxes, assessments, or charges, or
the part thereof so based, shall be deemed to be included within the term “Taxes” for purposes hereof, but only to the extent attributable to rents from the Project). Taxes shall include the actual out of pocket costs of
consultants retained in an effort to lower taxes and all costs incurred in disputing any taxes or in seeking to lower the tax valuation of the Project. For property tax purposes, Tenant waives all rights to protest or appeal the appraised value of
the Premises, as well as the Project; provided, however, Tenant reserves the right to protest or appeal the appraised value of Tenant’s personal property, furniture or fixtures for which Tenant is required to pay taxes thereon
pursuant to Section 16 of this Lease. 
 (4) By April 1 of each calendar year, or as soon thereafter as practicable
(but in no event later than May 1 of each calendar year), Landlord shall furnish to Tenant a statement of Operating Costs for the previous year, in each .case adjusted as provided in Section 4(b)(5), and of the Taxes for the previous year
(the “Operating Costs and Tax Statement”). If Tenant’s estimated payments of Operating Costs or Taxes under this Section 4(b) for the year covered by the Operating Costs and Tax Statement exceed Tenant’s
Proportionate Share of such items as indicated in the Operating Costs and Tax Statement, then Landlord shall promptly credit or reimburse Tenant for such excess; likewise, if Tenant’s estimated payments of Operating Costs or Taxes under this
Section 4(b) for such year are less than Tenant’s Proportionate Share of such items as indicated in the Operating Costs and Tax Statement, then Tenant shall promptly pay Landlord such deficiency. 

(5) With respect to any calendar year or partial calendar year in which the Building is not occupied to the extent of 95% of
the rentable area thereof, or Landlord is not supplying services to 95% of the rentable area thereof, the Operating Costs for such period which vary with the occupancy of the Building shall, for the purposes hereof, be increased to the amount which
would have been incurred had the Building been occupied to the extent of 95% of the rentable area thereof and Landlord had been supplying services to 95% of the rentable area thereof. 

  
 4 

 (c) Initial Cap on Operating Costs and Taxes. For purposes of calculating Additional
Rent payable by Tenant under Section 4(b) for the initial twenty-four (24) Lease Months following the Commencement Date (the “Initial OpEx Cap Period”), Tenant’s responsibility for Operating Costs and Taxes
shall not exceed an annual rate of $10.00 per rentable square foot of area in the Premises. 
 (d) Subsequent Cap on Controllable
Operating Costs. Upon expiration of the Initial OpEx Cap Period, for purposes of calculating Additional Rent payable by Tenant under Section 4(b), the amount of Controllable Operating Costs (as defined below) that may be included in
calculating such Additional Rent for each such calendar year shall not exceed 105% of the actual amount of Controllable Operating Costs for the year immediately preceding each such calendar year. “Controllable Operating
Costs” shall mean all Operating Costs which are within the reasonable control of Landlord; thus, excluding taxes, insurance, utilities, snow removal costs, and costs incurred to comply with governmental requirements enacted or made
applicable to the Buildings or the Complex after the date of this Lease. 
 (e) Inspection and Audit Rights. Provided no Event of
Default then exists, after receiving an annual Operating Costs and Tax Statement and giving Landlord 30-days’ prior written notice thereof, Tenant may inspect or audit Landlord’s records relating to
Operating Costs and Taxes for the period of time covered by such Operating Costs and Tax Statement in accordance with the following provisions. If Tenant fails to object to the calculation of Operating Costs and Taxes on an annual Operating Costs
and Tax Statement within 90 days after the statement has been delivered to Tenant, or if Tenant fails to conclude its audit or inspection within 60 days after Tenant’s commencement thereof, then Tenant shall have waived its right to object to
the calculation of Operating Costs for the year in question and the calculation of Operating Costs and Taxes set forth on such statement shall be final. Tenant’s audit or inspection shall be conducted where Landlord maintains its books and
records, shall not unreasonably interfere with the conduct of Landlord’s business, and shall be conducted only during business hours reasonably designated by Landlord. Landlord will cooperate with Tenant, to a commercially reasonable extent
(including by providing electronic copies of applicable documents to the extent in Landlord’s or its property manager’s possession and provided the same are not confidential, proprietary or privileged), in connection with Tenant’s
audit. Tenant shall pay all costs of such audit or inspection, unless the total Operating Costs for the period in question is determined to be in error by more than five percent (5%) in the aggregate, and, as a result thereof, Tenant paid to
Landlord more than the actual Operating Costs due for such period, in which case Landlord shall pay the reasonable and actual audit cost (not to exceed $5,000). Tenant may not conduct an inspection or have an audit performed more than once during
any calendar year. If such inspection or audit reveals that an error was made in the Operating Costs and Taxes previously charged to Tenant, then Landlord shall refund to Tenant any overpayment of any such costs, or Tenant shall pay to Landlord any
underpayment of any such costs, as the case may be, within 30 days after notification thereof. Tenant shall maintain the results of each such audit or inspection confidential and shall not be permitted to use any third party to perform such audit or
inspection, other than an independent firm of certified public accountants (1) reasonably acceptable to Landlord, (2) which is not compensated on a contingency fee basis or in any other manner which is dependent upon the results of such
audit or inspection (and Tenant shall deliver the fee agreement or other similar evidence of such fee arrangement to Landlord upon request), and (3) which agrees with Landlord in writing to maintain the results of such audit or inspection
confidential. Nothing set forth herein shall be construed to limit, suspend or abate Tenant’s obligation to pay Rent when due, including Additional Rent 

  
 5 

 5. Delinquent Payment; Handling Charges. All payments required of Tenant
hereunder not received within three (3) business days of the date due shall bear interest from the date due until paid at the lesser of fifteen, percent per annum or the maximum lawful rate of interest (such lesser amount is referred to herein
as the “Default Rate”); additionally, Landlord, in addition to all other rights and remedies available to it, may charge Tenant a fee equal to the greater of (a) $50.00 or (b) five percent (5.00%) of the delinquent
payment to reimburse Landlord for its cost and inconvenience incurred as a consequence of Tenant’s delinquency. In no event, however, shall the charges permitted under this Section 5 or elsewhere in this Lease, to the extent they are
considered to be interest under applicable Law, exceed the maximum lawful rate of interest. Notwithstanding the foregoing, the late fee referenced above shall not be charged with respect to the first occurrence (but not any subsequent occurrence)
during any 12-month period that Tenant fails to make payment within three (3) business days of the date due, until five days after Landlord delivers written notice of such delinquency to Tenant. 

6. Security Deposit. Contemporaneously with the execution of this Lease, Tenant shall pay to Landlord the Security Deposit, which
shall be held by Landlord to secure Tenant’s performance of its obligations under this Lease. The Security Deposit is not an advance payment of Rent or a measure or limit of Landlord’s damages upon an Event of Default (as defined herein).
Landlord may, from time to time following an Event of Default and without prejudice to any other remedy, use all or a part of the Security Deposit to perform any obligation Tenant fails to perform hereunder. Following any such application of the
Security Deposit, Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to its original amount. Subject to the requirements of, and conditions imposed by, Laws applicable to security deposits under
commercial leases, Landlord shall, within the time required by applicable Law, return to Tenant the portion of the Security Deposit remaining after deducting all damages, charges and other amounts permitted by Law. Landlord and Tenant agree that
such deductions shall include, without limitation, all damages and losses that Landlord has suffered or that Landlord reasonably estimates that it will suffer as a result of any breach of this Lease by Tenant. The Security Deposit may be commingled
with other funds, and no interest shall be paid thereon. If Landlord transfers its interest in the Premises, Landlord will assign the Security Deposit to the transferee and, upon such transfer and the delivery to Tenant of an acknowledgement of the
transferee’s responsibility for the Security Deposit as provided by Law, Landlord thereafter shall have no further liability for the return of the Security Deposit. 

7. Landlord’s Obligations. 

(a) Services. Landlord shall furnish to Tenant (1) water at those points of supply provided for general use of tenants of the
Building; (2) at all times (including outside of normal business hours) heated and refrigerated air conditioning (“HVAC”) as appropriate, at such temperatures and in such amounts as are standard for comparable buildings
in the vicinity of the Building; (3) janitorial service to the Premises on weekdays, other than holidays, for Building-standard installations and such window washing as may from time to time be reasonably required; provided,
however, Landlord’s janitorial service providers will not be permitted to enter the laboratory space portion of the Premises (the “Laboratory Space”) without Tenant’s prior written

  
 6 

 
consent, which consent shall not be unreasonably withheld, conditioned or delayed; (4) elevators for ingress and egress to the floor on which the Premises are located, in common with other
tenants, provided that Landlord may reasonably limit the number of operating elevators during non-business hours and holidays; and (5) electrical current during normal business hours for equipment that
does not require more than 110 volts and whose electrical energy consumption does not exceed normal office usage. Landlord shall maintain the common areas of the Building in reasonably good order and condition, except for damage caused by a Tenant
Party. 
 (b) Utilities Services. Tenant shall pay for all water, electricity, heat, telephone, sewer, sprinkler charges and
other utilities and services used at the Premises, together with any taxes, penalties, surcharges and the like imposed thereon. Prior to the Commencement Date, Landlord (at its expense) will cause the Building to be separately metered with regard to
all utilities and install a sub-meter to measure Tenant’s use of electricity in the Premises. Such sub-meter for the Premises shall be read by Landlord or
Landlord’s designee, and Tenant shall pay to Landlord, within thirty (30) days after Tenant’s receipt of an invoice therefor, the cost of such service based on rates charged for such service by the utility company furnishing such
service, including all fuel adjustment charges, demand charges and taxes. 
 (c) Restoration of Services; Abatement. Landlord shall
use reasonable efforts to restore any service required of it that becomes unavailable; however, such unavailability shall not render Landlord liable for any damages caused thereby, be a constructive eviction of Tenant, constitute a breach of any
implied warranty, or, except as provided in the next sentence, entitle Tenant to any abatement of Tenant’s obligations hereunder. If, however, Tenant is prevented from using the Premises because of the unavailability of any such service for a
period of five (5) consecutive business days following Landlord’s receipt from Tenant of a written notice regarding such unavailability, the restoration of which is within Landlord’s reasonable control, and such unavailability was not
caused by a Tenant Party or a governmental directive, then Tenant shall, as its exclusive remedy be entitled to a reasonable abatement of Rent for each consecutive day (after such 5-day period) that Tenant is
so prevented from using the Premises. 
 8. Improvements; Alterations; Repairs; Maintenance. 

(a) Improvements; Alterations. Improvements to the Premises shall be installed at Tenant’s expense only in accordance with plans
and specifications which have been previously approved in writing by Landlord, which approval shall be governed by the provisions set forth in this Section 8(a). No alterations or additions in or to the Premises may be made without
Landlord’s prior written consent, which shall not be unreasonably withheld or delayed; however, Landlord may withhold its consent to any alteration or addition that would adversely affect (in the reasonable discretion of Landlord) the
(1) Building’s Structure or the Building’s Systems (including the Building’s restrooms or mechanical rooms), (2) exterior appearance of the Building, (3) appearance of the Building’s common areas or elevator lobby
areas, or (4) provision of services to other occupants of the Building. Tenant shall not paint or install lighting or decorations, signs, window or door lettering, or advertising media of any type visible from the exterior of the Premises
without the prior written consent of Landlord, which consent may be withheld in Landlord’s sole and absolute discretion. All alterations, additions, and improvements shall be constructed, maintained, and used by Tenant, at its risk and expense,
in accordance with all Laws; Landlord’s consent to or approval of any alterations, additions or improvements (or the plans therefor) shall 

  
 7 

 
not constitute a representation or warranty by Landlord, nor Landlord’s acceptance, that the same comply with sound architectural and/or engineering practices or with all applicable Laws,
and Tenant shall be solely responsible for ensuring all such compliance. Notwithstanding the forgoing, Tenant shall have the right from time to time to make nonstructural alterations to the Premises (e.g., paint, carpet, removable fixtures) that do
not require a building permit, do not affect the Building’s Systems and are not visible from the exterior of the Premises without Landlord’s consent (“Minor Nonstructural Alterations”), provided that Tenant provides
Landlord at least ten (10) days prior written notice of such Minor Nonstructural Alterations and otherwise complies with the terms and provisions of this Section 8(a) in the performance of such Minor Nonstructural Alterations, and such
Minor Nonstructural Alterations do not cost more than $30,000 in any one instance or series of related instances. 
 (b) Repairs;
Maintenance. Tenant shall maintain the Premises in a clean, safe, and operable condition, and shall not permit or allow to remain any waste or damage to any portion of the Premises. In addition, Tenant, at its sole expense, shall provide
janitorial services to the Laboratory Space on weekdays (other than holidays), in a first class manner. Additionally, Tenant, at its sole expense, shall repair, replace and maintain in good condition and in accordance with all Laws and the equipment
manufacturer’s suggested service programs, all portions of the Premises, Tenant’s Off-Premises Equipment, and any systems exclusively serving the Premises (if any). Tenant shall repair or replace,
subject to Landlord’s direction and supervision, any damage to the Building caused by a Tenant Party. If Tenant fails to make such repairs or replacements within 15 days after the occurrence of such damage (or such longer period as may be
reasonably required provided Tenant commences to make such repairs or replacements within such 15-day period and proceeds diligently to completion), then Landlord may make the same at Tenant’s cost. If
any such damage occurs outside of the Premises, then Landlord may elect to repair such damage at Tenant’s expense, rather than having Tenant repair such damage. The reasonable costs of all maintenance, repair or replacement work performed by
Landlord under this Section 8 shall be paid by Tenant to Landlord within 30 days after Landlord has invoiced Tenant therefor. 
 (c)
Performance of Work. All work described in this Section 8 shall be performed only by Landlord or by contractors and subcontractors approved in writing by Landlord, which approval will not be unreasonably withheld for contractors and
subcontractors that maintain the insurance coverages required by Landlord. Tenant shall cause all contractors and subcontractors to procure and maintain insurance coverage naming Landlord, Landlord’s property management company and
Landlord’s asset management company as additional insureds against such risks, in such amounts, and with such companies as Landlord may reasonably require. Tenant shall provide Landlord with the identities, mailing addresses and telephone
numbers of all persons performing work or supplying materials prior to beginning such construction and Landlord may post on and about the Premises notices of non-responsibility pursuant to applicable Laws. All
such work shall be performed in accordance with all Laws and in a good and workmanlike manner so as not to damage the Building (including the Premises, the Building’s Structure and the Building’s Systems). All such work which may affect
the Building’s Structure or the Building’s Systems must be approved by the Building’s engineer of record, at Tenant’s expense and, at Landlord’s election, must be performed by Landlord’s usual contractor for such work.
All work affecting the Building roof must be performed by Landlord’s roofing contractor and will not be permitted if it would void or reduce the warranty on the roof. 

  
 8 

 (d) Mechanic’s Liens. All work performed, materials furnished, or
obligations incurred by or at the request of a Tenant Party shall be deemed authorized and ordered by Tenant only, and Tenant shall not permit any mechanic’s liens to be filed against the Premises or the Project in connection therewith. Upon
completion of any such work, Tenant shall deliver to Landlord final lien waivers from all contractors, subcontractors and materialmen who performed such work. If a lien is filed, then Tenant shall, within ten days after Landlord has delivered notice
of the filing thereof to Tenant (or earlier, as necessary to prevent the forfeiture of the Premises, the Project or any interest of Landlord therein or the imposition of any fine with respect thereto), either (1) pay the amount of the lien and
cause the lien to be released of record, or (2) diligently contest such lien and deliver to Landlord a bond or other security reasonably satisfactory to Landlord. If Tenant fails to timely take either such action, then Landlord may pay the lien
claim, and any amounts so paid, including expenses and interest, shall be paid by Tenant to Landlord within ten days after Landlord has invoiced Tenant therefor. Landlord and Tenant acknowledge and agree that their relationship is and shall be
solely that of “landlord-tenant” (thereby excluding a relationship of “owner-contractor,” “owner-agent” or other similar relationships). Accordingly, all materialmen, contractors, artisans, mechanics, laborers and any
other persons now or hereafter contracting with Tenant, any contractor or subcontractor of Tenant or any other Tenant Party for the furnishing of any labor, services, materials, supplies or equipment with respect to any portion of the Premises
during the Term, are hereby charged with notice that they look exclusively to Tenant to obtain payment for same. Nothing herein shall be deemed a consent by Landlord to any liens being placed upon the Premises, the Project or Landlord’s
interest therein due to any work performed by or for Tenant or deemed to give any contractor or subcontractor or materialman any right or interest in any funds held by Landlord to reimburse Tenant for any portion of the cost of such work. Tenant
shall defend, indemnify and hold harmless Landlord and its agents and representatives from and against all claims, demands, causes of action, suits, judgments, damages and expenses (including attorneys’ fees) in any way arising from or relating
to the failure by any Tenant Party to pay for any work performed, materials furnished, or obligations incurred by or at the request of a Tenant Party. This indemnity provision shall survive termination or expiration of this Lease. 

9. Use; Compliance with Law. 

(a) Use. Tenant shall use the Premises only for the Permitted Use and shall comply with all Laws relating to this Lease and/or the use,
condition, access to, and occupancy of the Premises and will not commit waste, overload the Building’s Structure or the Building’s Systems or subject the Premises to use that would damage the Premises. Tenant shall not conduct second or
third shift operations within the Premises; however, Tenant may use the Premises after normal business hours, so long as Tenant is not generally conducting business from the Premises after normal business hours. The Premises shall not be used for
any use which is disreputable, creates extraordinary fire hazards, or results in an increased rate of insurance on the Building or its contents, or for the storage of any Hazardous Materials (other than typical office supplies [e.g., photocopier
toner] and then only in compliance with all Laws). Tenant shall not use any substantial portion of the Premises for a “call center,” any other telemarketing use, or any credit processing use. If, because of a Tenant Party’s acts or
because Tenant vacates the Premises, the rate of insurance on the Building or its contents increases, then Tenant shall pay to Landlord the amount of such increase on demand, and acceptance of such payment shall not waive any of Landlord’s
other rights. Tenant shall conduct its business and control each other Tenant Party so as not to create any nuisance or unreasonably interfere with other tenants or Landlord in its management of the Building. 

  
 9 

 (b) Compliance with Law. 

(1) If any federal, state or local laws, ordinances, orders, rules, regulations or requirements (collectively,
“Governmental Requirements”) in existence as of the date of the Lease require an alteration or modification of the Premises (a “Code Modification”) and such Code Modification is not made necessary as a
result of the specific use being made by Tenant of the Premises (as distinguished from an alteration or improvement which would be required to be made by the owner of any building comparable to the Building irrespective of the use thereof by any
particular occupant) and is not made necessary as the result of any alteration of the Premises by Tenant, such Code Modification shall be performed by Landlord, at Landlord’s sole cost and expense. 

(2) If, as a result of one or more Governmental Requirements that are not in existence as of the date of this Lease, it is
necessary from time to time during the Lease Term, to perform a Code Modification to the Building or the Project that is not made necessary as a result of the specific use being made by Tenant of the Premises (as distinguished from an alteration or
improvement which would be required to be made by the owner of any building comparable to the Building irrespective of the use thereof by any particular occupant) and is not made necessary as the result of any alteration of the Premises by Tenant,
such Code Modification shall be performed by Landlord and the cost thereof shall be included in Operating Costs. 
 (3) If,
as a result of one or more Governmental Requirements, it is necessary from time to time during the Lease Term to perform a Code Modification to the Building or the Project that is made necessary as a result of the specific use being made by Tenant
of the Premises (as distinguished from an alteration or improvement which would be required to be made by the owner of any building comparable to the Building irrespective of the use thereof by any particular occupant), or as the result of any
alteration of the Premises by Tenant, such Code Modification shall be the sole and exclusive responsibility of Tenant in all respects. 

10. Assignment and Subletting. 

(a) Transfers. Except as provided in Section 10(h), Tenant shall not, without the prior written consent of Landlord,
(1) assign, transfer, or encumber this Lease or any estate or interest herein, whether directly or by operation of law, (2) permit any other entity to become Tenant hereunder by merger, consolidation, or other reorganization,
(3) intentionally omitted, (4) sublet any portion of the Premises, (5) grant any license, concession, or other right of occupancy of any portion of the Premises, or (6) permit the use of the Premises by any parties other than
Tenant (any of the events listed in Section 10(a)(1) through 10(a)(6) being a “Transfer”). 

  
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 (b) Consent Standards. Landlord shall not unreasonably withhold its consent to any
assignment or subletting of the Premises, provided that the proposed transferee (1) is creditworthy, (2) has a good reputation in the business community, (3) will use the Premises for the Permitted Use (thus, excluding, without
limitation, uses for credit processing and telemarketing) and will not use the Premises in any manner that would conflict with any exclusive use agreement or other similar agreement entered into by Landlord with any other tenant of the Building or
Complex, (4) will not use the Premises, Building or Project in a manner that would materially increase the pedestrian or vehicular traffic to the Premises, Building or Project, (5) is not a governmental entity, or subdivision or agency
thereof, (6) is not another occupant of the Building or Complex, (7) is in compliance with the regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those
named on OFAC’s Specially Designated Nationals and Blocked Persons List) and any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten
to Commit or Support Terrorism), or other governmental action relating thereto; and (8) is not a person or entity with whom Landlord is then, or has been within the six-month period prior to the time
Tenant seeks to enter into such assignment or subletting, negotiating to lease space in the Building or Complex or any Affiliate of any such person or entity; otherwise, Landlord may withhold its consent in its sole discretion. Additionally,
Landlord may withhold its consent to any proposed Transfer if any Event of Default by Tenant then exists. 
 (c) Request for Consent.
At least 15 days prior to the effective date of the proposed Transfer, Tenant shall provide Landlord with a written description of all terms and conditions of the proposed Transfer, copies of the proposed documentation, and the following information
about the proposed transferee: name and address of the proposed transferee and any entities and persons who own, control or direct the proposed transferee; reasonably satisfactory information about its business and business history; its proposed use
of the Premises; banking, financial, and other credit information; and general references sufficient to enable Landlord to determine the proposed transferee’s creditworthiness and character. Within 30 days after written notice from Landlord,
Tenant will reimburse Landlord for its reasonable attorneys’ fees incurred in connection with considering any request for consent to a Transfer, not to exceed $1,500.00 per request for consent. 

(d) Conditions to Consent. If Landlord consents to a proposed Transfer, the proposed transferee shall deliver to Landlord a written
agreement expressly assuming Tenant’s obligations hereunder; however, any transferee of less than all of the Premises shall be liable only for obligations under this Lease properly allocable to the space subject to the Transfer, for the period
of the Transfer. No Transfer shall release Tenant from its obligations under this Lease; Tenant and its transferee shall be jointly and severally liable therefor. Landlord’s consent to any Transfer shall not waive Landlord’s rights as to
any subsequent Transfers. If an Event of Default occurs while the Premises or any part thereof are subject to a Transfer, then Landlord, in addition to its other remedies, may collect directly from such transferee all rents becoming due to Tenant
and apply such rents against Rent. Tenant instructs its transferees to make payments of rent directly to Landlord upon receipt of notice from Landlord to do so following the occurrence of an Event of Default. Landlord shall not be responsible for
the cost of any demising walls or other improvements necessitated by a proposed subletting or assignment. 

  
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 (e) Attornment by Subtenants. Each sublease hereunder shall be subject and
subordinate to this Lease and to the matters to which this Lease is or shall be subordinate, and each subtenant is deemed to have agreed that in the event of termination, re-entry or dispossession by Landlord
under this Lease, Landlord may, at its option, take over the right, title and interest of Tenant, as sublandlord, under such sublease, and such subtenant shall, at Landlord’s option, attorn to Landlord pursuant to the then executory provisions
of such sublease, except that Landlord shall not be (1) liable for any previous act or omission of Tenant under such sublease, (2) subject to any counterclaim, offset or defense of such subtenant against Tenant, (3) bound by any
previous modification of such sublease not approved by Landlord in writing or by any rent or additional rent or advance rent which such subtenant has paid for more than the current month to Tenant, and all such rent shall remain due and owing,
notwithstanding such advance payment, (4) bound by any security or advance rental deposit made by such subtenant which is not delivered to Landlord and with respect to which such subtenant shall look solely to Tenant for refund or
reimbursement, or (5) obligated to perform any work in the subleased space or to prepare it for occupancy, and in connection with such attornment, the subtenant shall execute and deliver to Landlord any instruments Landlord may reasonably
request to evidence and confirm such attornment. Each subtenant or licensee of Tenant shall be deemed, automatically as a condition of its occupying or using any part of the Premises, to have agreed to be bound by the terms of this
Section 10(e). 
 (f) Cancellation. Landlord may, within 30 days after receipt of Tenant’s written request for
Landlord’s consent to an assignment or subletting, cancel this Lease as to the portion of the Premises proposed to be sublet or assigned as of the date the proposed Transfer is to be effective. If Landlord cancels this Lease as to any portion
of the Premises, then this Lease shall cease for such portion of the Premises and Tenant shall pay to Landlord all Rent accrued through the cancellation date relating to such portion of the Premises. Thereafter, Landlord may lease such portion of
the Premises to the prospective transferee (or to any other person) without liability to Tenant. Notwithstanding the foregoing, if Landlord provides written notification to Tenant of its election to cancel this Lease as to any portion of the
Premises as provided above, Tenant may rescind its proposed assignment or subletting of all or any portion of the Premises by notifying Landlord in writing within five (5) business days following Landlord’s written cancellation notice.

 (g) Additional Compensation. Except in connection with a Permitted Transfer, Tenant shall pay to Landlord, immediately upon receipt
thereof, fifty percent of the excess of (1) all compensation received by Tenant for a Transfer less the actual out-of-pocket costs reasonably incurred by Tenant
with unaffiliated third parties (i.e., brokerage commissions and tenant finish work) in connection with such Transfer (such costs shall be amortized on a straight-line basis over the term of the Transfer in question) over (2) the Rent allocable
to the portion of the Premises covered thereby. 
 (h) Permitted Transfers. Notwithstanding Section 10(a)-(g) above, Tenant may
Transfer all or part of its interest in this Lease or all or part of the Premises (a “Permitted Transfer”) to the following types of entities (a “Permitted Transferee”) without the written consent of
Landlord: 
 (1) an Affiliate of Tenant; 

  
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 (2) any corporation, limited partnership, limited liability partnership,
limited liability company or other business entity in which or with which Tenant, or its corporate successors or assigns, is merged or consolidated, in accordance with applicable statutory provisions governing merger and consolidation of business
entities, so long as (A) Tenant’s obligations hereunder are assumed by the entity surviving such merger or created by such consolidation; and (B) the Tangible Net Worth of the surviving or created entity is not less than the Tangible
Net Worth of Tenant as of the date immediately prior to the Transfer; 
 (3) any corporation, limited partnership, limited
liability partnership, limited liability company or other business entity acquiring all or substantially all of Tenant’s assets if such entity’s Tangible Net Worth after such acquisition is not less than the Tangible Net Worth of Tenant as
of the date immediately prior to the Transfer; or 
 (4) any corporation, limited partnership, limited liability partnership,
limited liability company or other business entity or person acquiring a majority or controlling ownership interest in Tenant. 
 Tenant shall promptly
notify Landlord of any such Permitted Transfer. Tenant shall remain liable for the performance of all of the obligations of Tenant hereunder, or if Tenant no longer exists because of a merger, consolidation, or acquisition, the surviving or
acquiring entity shall expressly assume in writing the obligations of Tenant hereunder. Additionally, the Permitted Transferee shall comply with all of the terms and conditions of this Lease, and the use of the Premises by the Permitted Transferee
may not violate any other agreements affecting the Premises, the Building, the Complex, Landlord or other tenants of the Building or. Complex. No later than 30 days after the effective date of any Permitted Transfer, Tenant shall furnish Landlord
with (A) copies of the instrument effecting such Permitted Transfer, (B) documentation establishing Tenant’s satisfaction of the requirements set forth above applicable to any such Transfer, (C) evidence of insurance as required
under this Lease with respect to the Permitted Transferee, and (D) evidence of compliance with the regulations of OFAC and any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting
Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action relating thereto, including the name and address of the Permitted Transferee and any entities and persons who own, control or direct the
Permitted Transferee; provided, however, Tenant shall not be required to provide such information if the Permitted Transferee is a publicly traded company or subsidiary thereof. The occurrence of a Permitted Transfer shall not waive
Landlord’s rights as to any subsequent Transfers. “Tangible Net Worth” means the excess of total assets over total liabilities, in each case as determined in accordance with generally accepted accounting principles
consistently applied (“GAAP”). Any subsequent Transfer by a Permitted Transferee shall be subject to the terms of this Section 10. 

11. Insurance; Waivers; Subrogation; Indemnity. 

(a) Tenant’s Insurance. Effective as of the earlier of (1) the date Tenant enters or occupies the Premises, or
(2) the Commencement Date, and continuing throughout the Term, Tenant shall maintain the following insurance policies: (A) commercial general liability insurance (which when combined with any umbrella policy maintained by Tenant) provides
for coverage in amounts of $3,000,000 per occurrence or, following the expiration of the initial Term, such other amounts as Landlord from time to time reasonably requires (and, if the use and occupancy of the Premises include any activity or matter
that is or may be excluded from coverage under a 

  
 13 

 
commercial general liability policy [e.g., the sale, service or consumption of alcoholic beverages], Tenant shall obtain such endorsements to the commercial general liability policy or otherwise
obtain insurance to insure all liability arising from such activity or matter [including liquor liability, if applicable] in such amounts as Landlord may reasonably require), insuring Tenant, Landlord, Landlord’s property management company,
Landlord’s asset management company and, if requested in writing by Landlord, Landlord’s Mortgagee against all liability for injury to or death of a person or persons or damage to property arising from the use and occupancy of the Premises
and (without implying any consent by Landlord to the installation thereof) the installation, operation, maintenance, repair or removal of Tenant’s Off-Premises Equipment, (B) insurance covering the
full value of all alterations and improvements and betterments in the Premises, naming Landlord and Landlord’s Mortgagee as additional loss payees as their interests may appear, (C) insurance covering the full value of all furniture, trade
fixtures and personal property (including property of Tenant or others) in the Premises or otherwise placed in the Project by or on behalf of a Tenant Party (including Tenant’s Off-Premises Equipment),
(D) contractual liability insurance sufficient to cover Tenant’s indemnity obligations hereunder (but only if such contractual liability insurance is not already included in Tenant’s commercial general liability insurance policy),
(E) worker’s compensation insurance, to the extent required by applicable Law, and (F) business interruption insurance in an amount sufficient to cover one year’s Basic Rent and Additional Rent under this Lease. The commercial general
liability insurance to be maintained by Tenant may have a deductible of no more than $5,000 per occurrence; the property insurance to be maintained by Tenant may have a deductible of no more than $10,000 per occurrence; and, all other insurance to
be maintained by Tenant shall have no deductible. Tenant’s insurance shall provide primary coverage to Landlord when any policy issued to Landlord provides duplicate or similar coverage. Landlord’s policy will be excess over Tenant’s
policy. Tenant shall furnish to Landlord certificates of such insurance at least ten (10) days prior to the earlier of the Commencement Date or the date Tenant enters or occupies the Premises, and at least fifteen (15) days prior to each
renewal of said insurance, and Tenant shall notify Landlord at least thirty (30) days before cancellation of any such insurance policies. All such insurance policies shall be in form reasonably satisfactory to Landlord and issued by companies
with a Best’s rating of A+:VII or better. If Tenant fails to comply with the foregoing insurance requirements or to deliver to Landlord the certificates or evidence of coverage required herein, and such failure continues for more than two
(2) business days after written notice from Landlord, Landlord, in addition to any other remedy available pursuant to this Lease or otherwise, may, but shall not be obligated to, obtain such insurance and Tenant shall pay to Landlord within
thirty (30) days after written notice from Landlord, the premium costs thereof, plus an administrative fee of 15% of such cost. 
 (b)
Landlord’s Insurance. Throughout the Term of this Lease, Landlord shall maintain, as a minimum, the following insurance policies: (1) property insurance for the Building’s full replacement value (excluding
property required to be insured by Tenant), less a commercially-reasonable deductible if Landlord so chooses, and (2) commercial general liability insurance in an amount of not less than $3,000,000. Landlord may, but is not obligated to,
maintain such other insurance and additional coverages as it may deem necessary. The cost of all insurance carried by Landlord with respect to the Project shall be included in Operating Costs. The foregoing insurance policies and any other insurance
carried by Landlord shall be for the sole benefit of Landlord and under Landlord’s sole control, and Tenant shall have no right or claim to any proceeds thereof or any other rights thereunder. 

  
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 (c) No Subrogation; Waiver of Property Claims. Landlord and Tenant each waives any
claim it might have against the other for any damage to or theft, destruction, loss, or loss of use of any property, to the extent the same is insured against under any insurance policy of the types described in this Section 11 that covers the
Project, the Premises, Landlord’s or Tenant’s fixtures, personal property, leasehold improvements, or business, or is required to be insured against under the terms hereof, regardless of whether the negligence of the other party caused,
or is alleged to have caused, such Loss (defined below). Additionally, Tenant and Landlord each waive any claim it may have against the other for any Loss to the extent such Loss is caused by a terrorist act. Each party shall cause its
insurance carrier to endorse all applicable policies waiving the carrier’s rights of recovery under subrogation or otherwise against the other party. Notwithstanding any provision in this Lease to the contrary, Landlord, its agents, employees
and contractors shall not be liable to Tenant or to any party claiming by, through or under Tenant for (and Tenant hereby releases Landlord and its servants, agents, contractors, employees and invitees from any claim or responsibility for) any
damage to or destruction, loss, or loss of use, or theft of any property of any Tenant Party located in or about the Project, caused by casualty, theft, fire, third parties or any other matter or cause, regardless of whether the negligence of any
party caused, or is alleged to have caused, such Loss in whole or in part (except to the extent such Loss arose from the gross negligence or willful misconduct of such party). Tenant acknowledges that Landlord shall not carry insurance
on, and shall not be responsible for damage to, any property of any Tenant Party located in or about the Project. 
 (d) Indemnity.

 (1) Subject to Section 11(c), Tenant shall defend, indemnify, and hold harmless Landlord and its representatives and
agents from and against all claims, demands, liabilities, causes of action, suits, judgments, damages, and expenses (including reasonable attorneys’ fees) arising from any injury to or death of any person or the damage to or theft, destruction,
loss, or loss of use of, any property or inconvenience (a “Loss”) (1) occurring in or on the Project and/or the Complex (other than within the Premises) to the extent caused by the negligence or willful misconduct of any
Tenant Party, (2) occurring in the Premises, or (3) arising out of the installation, operation, maintenance, repair or removal of any property of any. Tenant Party located in or about the Project and/or the Complex, including Tenant’s
Off-Premises Equipment; however, such indemnity shall not apply to the extent such Loss arose from the negligence or willful misconduct of Landlord or its agents. 

(2) Subject to Section 11(c), Landlord shall defend, indemnify, and hold harmless Tenant and its representatives and
agents from and against any Loss arising from Landlord’s maintenance or operation of the common areas of the Project and/or the Complex; however, such indemnity shall not apply to the extent such Loss arose from the negligence or willful
misconduct of Tenant or its agents. 
 (3) The indemnities set forth in this Lease shall survive termination or
expiration of this Lease and shall not terminate or be waived, diminished or affected in any manner by any abatement or apportionment of Rent under any provision of this Lease. If any proceeding is filed for which indemnity is required hereunder,
the indemnifying party agrees, upon request therefor, to defend the indemnified party in such proceeding at its sole cost utilizing counsel satisfactory to the indemnified party. 

  
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 12. Subordination; Attornment; Notice to Landlord’s
Mortgagee. 
 (a) Subordination. This Lease shall be subordinate to any deed of trust, mortgage, or other security instrument
(each, a “Mortgage”), or any ground lease, master lease, or primary lease (each, a “Primary Lease”), that now or hereafter covers all or any part of the Premises (the mortgagee under any such Mortgage,
beneficiary under any such deed of trust, or the lessor under any such Primary Lease is referred to herein as a “Landlord’s Mortgagee”). Any Landlord’s Mortgagee may elect, at any time,
unilaterally, to make this Lease superior to its Mortgage, Primary Lease, or other interest in the Premises by so notifying Tenant in writing. The provisions of this Section shall be self-operative and no further instrument of subordination shall be
required; however, in confirmation of such subordination, Tenant shall execute and return to Landlord (or such other party designated by Landlord) within ten days after written request therefor such documentation, in recordable form if required, as
a Landlord’s Mortgagee may reasonably request to evidence the subordination of this Lease to such Landlord’s Mortgagee’s Mortgage or Primary Lease (including a subordination, non-disturbance and
attornment agreement) or, if the Landlord’s Mortgagee so elects, the subordination of such Landlord’s Mortgagee’s Mortgage or Primary Lease to this Lease. 

(b) Attornment. Tenant shall attorn to any party succeeding to Landlord’s interest in the Premises, whether by purchase,
foreclosure, deed in lieu of foreclosure, power of sale or otherwise, upon such party’s request, and shall execute such agreements confirming such attornment as such party may reasonably request. 

(c) Notice to Landlord’s Mortgagee. Tenant shall not seek to enforce any remedy it may have for any default on the
part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail, to any Landlord’s Mortgagee whose address has been given to Tenant, and affording such
Landlord’s Mortgagee a reasonable opportunity to perform Landlord’s obligations hereunder. 
 (d) Landlord’s
Mortgagee’s Protection Provisions. If Landlord’s Mortgagee shall succeed to the interest of Landlord under this Lease, Landlord’s Mortgagee shall not be: (1) liable for any act or omission of any prior lessor
(including Landlord); (2) bound by any Rent which Tenant has paid for more than the current month to any prior lessor (including Landlord), and all such rent shall remain due and owing; (3) bound by any security or advance rental deposit made
by Tenant which is not delivered or paid over to Landlord’s Mortgagee and with respect to which Tenant shall look solely to Landlord for refund or reimbursement; (4) bound by any termination, amendment or modification of this Lease made
without Landlord’s Mortgagee’s consent and written approval, except for those terminations, amendments and modifications permitted to be made by Landlord without Landlord’s Mortgagee’s consent pursuant to the terms of the loan
documents between Landlord and Landlord’s Mortgagee; (5) subject to the defenses which Tenant might have against any prior lessor (including Landlord); and (6) subject to the offsets which Tenant might have against any prior lessor
(including Landlord) except for those offset rights which (A) are expressly provided in this Lease, (B) relate to periods of time following the acquisition of the Building by Landlord’s Mortgagee, and (C) Tenant has provided
written 

  
 16 

 
notice to Landlord’s Mortgagee and provided Landlord’s Mortgagee a reasonable opportunity to cure the event giving rise to such offset event. Landlord’s Mortgagee shall have no
liability or responsibility under or pursuant to the terms of this Lease or otherwise after it ceases to own an interest in the Project. Nothing in this Lease shall be construed to require Landlord’s Mortgagee to see to the application of the
proceeds of any loan, and Tenant’s agreements set forth herein shall not be impaired on account of any modification of the documents evidencing and securing any loan. 

13. Rules and Regulations. Tenant shall comply with the rules and regulations of the Project which are attached hereto as
Exhibit C. Landlord may, from time to time, change such rules and regulations for the safety, care, or cleanliness of the Project and related facilities, provided that such changes are applicable to all tenants of the Project, will not
unreasonably interfere with Tenant’s use of the Premises and are enforced by Landlord in a non-discriminatory manner. Tenant shall be responsible for the compliance with such rules and regulations by each
Tenant Party. 
 14. Condemnation. 

(a) Total Taking. If the entire Building or Premises are taken by right of eminent domain or conveyed in lieu thereof (a
“Taking”), this Lease shall terminate as of the date of the Taking. 
 (b) Partial Taking -
Tenant’s Rights. If any part of the Building becomes subject to a Taking and such Taking will prevent Tenant from conducting on a permanent basis its business in the Premises in a manner reasonably comparable to that conducted
immediately before such Taking, then Tenant may terminate this Lease as of the date of such Taking by giving written notice to Landlord within 30 days after the Taking, and Basic Rent and Additional Rent shall be apportioned as of the date of such
Taking. If Tenant does not terminate this Lease, then Rent shall be abated on a reasonable basis as to that portion of the Premises rendered untenantable by the Taking. 

(c) Partial Taking - Landlord’s Rights. If any material portion, but less than all, of the Building becomes subject
to a Taking, or if Landlord is required to pay any of the proceeds arising from a Taking to a Landlord’s Mortgagee, then Landlord or Tenant may terminate this Lease by delivering written notice thereof to the other within 30 days after such
Taking, and Basic Rent and Additional Rent shall be apportioned as of the date of such Taking. If Landlord or Tenant does not so terminate this Lease, then this Lease will continue, but if any portion of the Premises has been taken, Rent shall abate
as provided in the last sentence of Section 14(b). 
 (d) Temporary Taking. If all or any portion of the Premises becomes subject
to a Taking for a limited period of time, this Lease shall remain in full force and effect and Tenant shall continue to perform all of the terms, conditions and covenants of this Lease, including the payment of Basic Rent and all other amounts
required hereunder; provided, however, Tenant’s Rent shall be proportionally abated based on the duration and area affected by such temporary Taking. If any such temporary Taking terminates prior to the expiration of the Term,
Tenant shall restore the Premises as nearly as possible to the condition prior to such temporary Taking, at Tenant’s sole cost and expense. Landlord shall be entitled to receive the entire award for any such temporary Taking, except that Tenant
shall be entitled to receive the portion of such award which (1) compensates Tenant for its loss of use of the Premises within the Term and (2) reimburses Tenant for the reasonable out-of-pocket costs actually incurred by Tenant to restore the Premises as required by this Section 14(d). 

  
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 (e) Award. If any Taking occurs, then Landlord shall receive the entire award or
other compensation for the Land, the Building, and other improvements taken; however, Tenant may separately pursue a claim (to the extent it will not reduce Landlord’s award) against the condemnor for the value of Tenant’s personal
property which Tenant is entitled to remove under this Lease, moving costs, loss of business, and other claims it may have. 
 15.
Fire or Other Casualty. 
 (a) Repair Estimate. If the Premises or the Building are damaged by fire or other casualty (a
“Casualty”), Landlord shall, within 90 days after such Casualty, deliver to Tenant a good faith estimate (the “Damage Notice”) of the time needed to repair the damage caused by such Casualty. 

(b) Tenant’s Rights. If a material portion of the Premises is damaged by Casualty such that Tenant is prevented from
conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused thereby cannot be repaired within 180 days after the date of Casualty (the
“Repair Period”), then Tenant may terminate this Lease by delivering written notice to Landlord of its election to terminate within 30 days after the Damage Notice has been delivered to Tenant. 

(c) Landlord’s Rights. If a Casualty damages the Premises or a material portion of the Building and (1) Landlord
estimates that the damage to the Premises cannot be repaired within the Repair Period, (2) the damage to the Premises exceeds 50% of the replacement cost thereof (excluding foundations and footings), as estimated by Landlord, and such damage
occurs during the last two years of the Term, (3) regardless of the extent of damage to the Premises, the damage is not fully covered by Landlord’s insurance policies plus applicable deductibles (provided Landlord carries the insurance
required hereunder) or Landlord makes a good faith determination that restoring the Building would be uneconomical, or (4) Landlord is required to pay any insurance proceeds arising out of the Casualty to a Landlord’s Mortgagee such that
remaining insurance proceeds are insufficient to cover the costs of rebuilding, then Landlord may terminate this Lease by giving written notice of its election to terminate within 30 days after the Damage Notice has been delivered to Tenant. 

(d) Repair Obligation. If neither party elects to terminate this Lease following a Casualty, then Landlord shall, within the Repair
Period, begin to repair the Premises and shall proceed with reasonable diligence to restore the Premises to substantially the same condition as they existed immediately before such Casualty; however, Landlord shall not be required to repair or
replace any alterations or betterments within the Premises (which shall be promptly and with due diligence repaired and restored by Tenant at Tenant’s sole cost and expense) or any furniture, equipment, trade fixtures or personal property of
Tenant or others in the Premises or the Building, and Landlord’s obligation to repair or restore the Premises shall be limited to the extent of the 

  
 18 

 
insurance proceeds actually received by Landlord for the Casualty in question (plus applicable deductible amounts); provided, further, however, if Landlord commences to restore the Premises and
fails to substantially complete the restoration within thirty (30) days following the Repair Period (such deadline to be extended for delays caused by any Tenant Party or reasons specified in Section 25(c) below, the “Repair
Deadline”), then Tenant may elect to terminate this Lease at any time following the Repair Deadline until such time as the restoration has been substantially completed. If this Lease is terminated under the provisions of this
Section 15, Landlord shall be entitled to the full proceeds of the insurance policies providing coverage for all alterations, improvements and betterments in the Premises (and, if Tenant has failed to maintain insurance on such items as
required by this Lease, Tenant shall pay Landlord an amount equal to the proceeds Landlord would have received had Tenant maintained insurance on such items as required by this Lease); provided, however, Landlord shall not be entitled
to insurance proceeds applicable to Tenant’s trade fixtures, equipment, personal property and other property of Tenant in the Premises. 

(e) Abatement of Rent. If the Premises are damaged by Casualty, Rent for the portion of the Premises rendered untenantable by the damage
shall be abated on a reasonable basis from the date of damage until the completion of Landlord’s repairs (or until the date of termination of this Lease by Landlord or Tenant as provided above, as the case may be), unless the gross negligence
or willful misconduct of a Tenant Party caused such damage, in which case, Tenant shall continue to pay Rent without abatement. 
 16.
Personal Property Taxes. Tenant shall be liable for all taxes levied or assessed against personal property, furniture, or fixtures placed by Tenant in the Premises or in or on the Building or Project. If any taxes for which Tenant is liable
are levied or assessed against Landlord or Landlord’s property and Landlord elects to pay the same, or if the assessed value of Landlord’s property is increased by inclusion of such personal property, furniture or fixtures and Landlord
elects to pay the taxes based on such increase, then Tenant shall pay to Landlord, within 30 days following written request therefor, the part of such taxes for which Tenant is primarily liable hereunder; however, Landlord shall not pay such amount
if Tenant notifies Landlord that it will contest the validity or amount of such taxes before Landlord makes such payment, and thereafter diligently proceeds with such contest in accordance with Law and if the
non-payment thereof does not pose a threat of loss or seizure of the Project or interest of Landlord therein or impose any fee or penalty against Landlord. 

17. Events of Default. Each of the following occurrences shall be an “Event of Default”: 

(a) Payment Default. Tenant’s failure to pay Rent within five (5) days after Landlord has delivered written notice to Tenant
that the same is due; however, an Event of Default shall occur hereunder without any obligation of Landlord to give any notice if Tenant fails to pay Rent when due and, during the 12 month interval preceding such failure, Landlord has given Tenant
written notice of failure to pay Rent on one or more occasions; 
 (b) Intentionally Omitted. 

(c) Estoppel. Tenant fails to provide any estoppel certificate after Landlord’s written request therefor pursuant to
Section 25(e) and such failure shall continue for five days after Landlord’s second written notice thereof to Tenant which second written notice shall be delivered in an envelope or wrapper conspicuously marked “TIME SENSITIVE
IMMEDIATE RESPONSE REQUIRED”; 

  
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 (d) Insurance. Tenant fails to procure, maintain and deliver to Landlord evidence of
the insurance policies and coverages as required under Section 11(a); 
 (e) Mechanic’s Liens. Tenant fails to
pay and release of record, or diligently contest and bond around, any mechanic’s lien filed against the Premises or the Project for any work performed, materials furnished, or obligation incurred by or at the request of Tenant, within the time
and in the manner required by Section 8(d); 
 (f) Other Defaults. Tenant’s failure to perform, comply with, or observe any
other agreement or obligation of Tenant under this Lease and the continuance of such failure for a period of more than 30 days after Landlord has delivered to Tenant written notice thereof provided, however, that if the nature of Tenant’s
failure to perform is such that more than thirty (30) days are reasonably required to cure, then such failure to perform shall be deemed to have been cured if Tenant commences such performance within said thirty (30) day period and
thereafter diligently pursues such cure to completion within a reasonable time; and 
 (g) Insolvency. The filing of a petition by or
against Tenant (the term “Tenant” shall include, for the purpose of this Section 17(g), any guarantor of Tenant’s obligations hereunder) (1) in any bankruptcy or other insolvency proceeding; (2) seeking any relief under
any state or federal debtor relief law; (3) for the appointment of a liquidator or receiver for all or substantially all of Tenant’s property or for Tenant’s interest in this Lease; (4) for the reorganization or modification of
Tenant’s capital structure; or (5) in any assignment for the benefit of creditors proceeding; however, if such a petition is filed against Tenant, then such filing shall not be an Event of Default unless Tenant fails to have the
proceedings initiated by such petition dismissed within 90 days after the filing thereof. 
 18. Remedies. Upon any Event of
Default, Landlord may, in addition to all other rights and remedies afforded Landlord hereunder or by law or equity, take any one or more of the following actions: 

(a) Termination of Lease. Terminate this Lease by giving Tenant written notice thereof, in which event Tenant shall pay to Landlord the
sum of (1) all Rent accrued hereunder through the date of termination, (2) all amounts due under Section 19(a), and (3) an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of
the Term discounted to present value at a per annum rate equal to the “Prime Rate” as published on the date this Lease is terminated by The Wall Street Journal, Southwest Edition, in its listing of “Money Rates” minus one
percent, minus (B) the then present fair rental value of the Premises for such period, similarly discounted; 
 (b) Termination of
Possession. Terminate Tenant’s right to possess the Premises without terminating this Lease by giving written notice thereof to Tenant, in which event Tenant shall pay to Landlord (1) all Rent and other amounts accrued hereunder to the
date of termination of possession, (2) all amounts due from time to time under Section 19(a), and (3) all 

  
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Rent and other net sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during
such period, after deducting reasonable costs incurred by Landlord in reletting the Premises. If Landlord elects to proceed under this Section 18(b), Landlord may remove all of Tenant’s property from the Premises and store the same in a
public warehouse or elsewhere at the cost of, and for the account of, Tenant, without becoming liable for any loss or damage which may be occasioned thereby. Landlord shall use reasonable efforts to relet the Premises on such terms as Landlord in
its sole reasonable discretion may determine (including a term different from the Term, rental concessions, and alterations to, and improvement of, the Premises); however, Landlord shall not be obligated to relet the Premises before leasing other
portions of the Building or Complex and Landlord shall not be obligated to accept any prospective tenant unless such proposed tenant meets all of Landlord’s leasing criteria. Landlord shall not be liable for, nor shall Tenant’s obligations
hereunder be diminished because of, Landlord’s failure to relet the Premises or to collect rent due for such reletting. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder. Reentry
by Landlord in the Premises shall not affect Tenant’s obligations hereunder for the unexpired Term; rather, Landlord may, from time to time, bring an action against Tenant to collect amounts due by Tenant, without the necessity of
Landlord’s waiting until the expiration of the Term. Unless Landlord delivers written notice to Tenant expressly stating that it has elected to terminate this Lease, all actions taken by Landlord to dispossess or exclude Tenant from the
Premises shall be deemed to be taken under this Section 18(b). If Landlord elects to proceed under this Section 18(b), it may at any time elect to terminate this Lease under Section 18(a); 

(c) Perform Acts on Behalf of Tenant. Perform any act Tenant is obligated to perform under the terms of this Lease (and enter upon the
Premises in connection therewith if necessary) in Tenant’s name and on Tenant’s behalf, without being liable for any claim for damages therefor, except to the extent due to Landlord’s gross negligence or willful misconduct in
performing such obligation, and Tenant shall reimburse Landlord on demand for any expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease (including, but not limited to, collection costs and
legal expenses), plus interest thereon at the Default Rate; or 
 (d) Alteration of Locks. Additionally, with or without notice, and
to the extent permitted by Law, during the continuance of an Event of Default, Landlord may alter locks or other security devices at the Premises to deprive Tenant of access thereto, and Landlord shall not be required to provide a new key or right
of access to Tenant. 
 19. Payment by Tenant; Non-Waiver; Cumulative Remedies. 

(a) Payment by Tenant. Upon any Event of Default, Tenant shall pay to Landlord all actual out of pocket costs incurred by Landlord
(including court costs and reasonable attorneys’ fees and expenses) in (1) obtaining possession of the Premises, (2) removing and storing Tenant’s or any other occupant’s property, (3) repairing, restoring, altering,
remodeling to the extent necessary to put the Premises into the condition required at expiration of the Term, (4) if Tenant is dispossessed of the Premises and this Lease is not terminated, reletting all or any part of the Premises (including
reasonable brokerage commissions, cost of commercially reasonable tenant finish work, and other costs incidental and necessary to such reletting), (5) performing 

  
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Tenant’s obligations which Tenant failed to perform, and (6) enforcing, Landlord’s rights, remedies, and recourses arising out of the default. To the full extent permitted by law,
Landlord and Tenant agree the federal and state courts of the state in which the Premises are located shall have exclusive jurisdiction over any matter relating to or arising from this Lease and the parties’ rights and obligations under this
Lease. 
 (b) No Waiver. Landlord’s acceptance of Rent following an Event of Default shall not waive Landlord’s rights
regarding such Event of Default. No waiver by Landlord of any violation or breach of any of the terms contained herein shall waive Landlord’s rights regarding any future violation of such term. Landlord’s acceptance of any partial payment
of Rent shall not waive Landlord’s rights with regard to the remaining portion of the Rent that is due, regardless of any endorsement or other statement on any instrument delivered in payment of Rent or any writing delivered in connection
therewith;, accordingly, Landlord’s acceptance of a partial payment of Rent shall not constitute an accord and satisfaction of the full amount of the Rent that is due. 

(c) Cumulative Remedies. Any and all remedies set forth in this Lease: 

(1) shall be in addition to any and all other remedies Landlord may have at law or in equity, 

(2) shall be cumulative, and (3) may be pursued successively or concurrently as Landlord may elect. The exercise of any
remedy by Landlord shall not be deemed an election of remedies or preclude Landlord from exercising any other remedies in the future. 

20. Landlord’s Lien. Landlord hereby waives any landlord’s lien (whether arising by contract, by
operation of law or statute or in equity) and/or the benefit of any express or implied lien with respect to Tenant’s Property (defined below) securing the performance of Tenant’s obligations under this Lease, until such time as Landlord
may obtain an enforceable judgment against Tenant from a court with jurisdiction of Tenant or Tenant’s Property, at which time Landlord shall have such lien rights at law and in equity to enforce and collect such judgment and Tenant’s
obligations under this Lease. “Tenant’s Property” means all trade fixtures, furnishings, equipment, inventory, personal property and any other property (tangible or intangible) of Tenant
located in, on or around, or used in connection with, the Premises. In addition and not in limitation of the foregoing, within ten (10) business days after written request Landlord will, at Tenant’s sole cost and expense, execute and
deliver a written instrument, in form and substance satisfactory to Landlord, evidencing the waiver of any lien of Landlord with respect to Tenant’s Property. 

21. Surrender of Premises. No act by Landlord shall be deemed an acceptance of a surrender of the Premises, and no agreement to
accept a surrender of the Premises shall be valid unless it is in writing and signed by Landlord. At the expiration or termination of this Lease, Tenant shall deliver to Landlord the Premises with all improvements located therein in good repair and
condition, free of Hazardous Materials placed on the Premises during the Term, broom-clean, reasonable wear and tear (and condemnation and Casualty damage not caused by Tenant, as to which Sections 14 and 15 shall control) excepted, and shall
deliver to Landlord all keys to the Premises. Provided that no default then exists under this Lease, Tenant shall remove all of Tenant’s trade fixtures, furniture, equipment and personal property placed in the Premises or

  
 22 

 
elsewhere in the Building by Tenant (but Tenant may not remove any such item which was paid for, in whole or in part, by Landlord or any wiring or cabling unless Landlord requires such removal).
Notwithstanding the foregoing, Tenant shall not be required to remove (i) any improvements constructed pursuant to Exhibit “D” hereof, (ii) any Minor Nonstructural Alterations, (iii) any other alterations, additions,
or improvements subsequently installed by Tenant, unless at the time of consenting to such alterations, additions or improvements, Landlord expressly required in writing that same be removed from the Premises upon expiration of the Lease, or
(iv) any wiring or cabling. Tenant shall repair all damage caused by such removal. All items not so removed shall, at Landlord’s option, be deemed to have been abandoned by Tenant and may be appropriated, sold, stored, destroyed, or
otherwise disposed of by Landlord without notice to Tenant and without any obligation to account for such items; any such disposition shall not be considered a strict foreclosure or other exercise of Landlord’s rights in respect of the security
interest granted under Section 21. The provisions of this Section 21 shall survive the end of the Term. 
 22. Holding
Over. If Tenant fails to vacate the Premises at the end of the Term, then Tenant shall be a tenant at sufferance and, in addition to all other damages and remedies to which Landlord may be entitled for such holding over, (a) Tenant shall
pay, (i) during the first three (3) months of such holdover period, Basic Rent equal to 125% of the Rent payable during the last month of the Term, and (ii) after such three (3)-month period, Basic Rent equal to 150% of the Rent
payable during the last month of the Term, and (b) Tenant shall otherwise continue to be subject to all of Tenant’s obligations under this Lease (including payment of Additional Rent). The provisions of this Section 22 shall not be
deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to
Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such failure, including any claims made by any succeeding
tenant founded upon such failure to surrender, and any lost profits to Landlord resulting therefrom. 
 23. Certain Rights Reserved
by Landlord. Provided that the exercise of such rights does not unreasonably interfere with Tenant’s occupancy of the Premises, Landlord shall have the following rights: 

(a) Building Operations. To decorate and to make inspections, repairs, alterations, additions, changes, or improvements, whether
structural or otherwise, in and about the Project, or any part thereof; to enter upon the Premises (after giving Tenant reasonable notice thereof, which may be oral notice, except in cases of real or apparent emergency, in which case no notice shall
be required) (provided, however, except following an Event of Default or in an emergency (in which instances no accompaniment shall be necessary), Tenant shall have a right to have its representative accompany Landlord at any such
visit (and Tenant agrees to make a representative available for any such visit upon at least twenty-four (24) hours’ prior request by Landlord) and Landlord shall observe all reasonable safety protocols directed by Tenant during any such
visit) and, during the continuance of any such work, to temporarily close doors, entryways, public space, and corridors in the Building; to interrupt or temporarily suspend Building services and facilities; to change the name of the Building; and to
change the arrangement and location of entrances or passageways, doors, and doorways, corridors, elevators, stairs, restrooms, or other public parts of the Building; 

  
 23 

 (b) Security. To take such reasonable measures as Landlord deems advisable for the
security of the Building and its occupants; evacuating the Building for cause, suspected cause, or for drill purposes; temporarily denying access to the Building; and closing the Building after normal business hours and on Sundays and holidays,
subject, however, to Tenant’s right to enter when the Building is closed after normal business hours under such reasonable regulations as Landlord may prescribe from time to time; 

(c) Prospective Purchasers and Lenders. To enter the Premises at all reasonable hours, upon reasonable prior notice, to show the
Premises to prospective purchasers or lenders; provided, however, except following an Event of Default or in an emergency (in which instances no accompaniment shall be necessary), Tenant shall have a right to have its representative
accompany Landlord at any such visit (and Tenant agrees to make a representative available for any such visit upon at least twenty-four (24) hours’ prior request by Landlord) and Landlord shall observe all reasonable safety protocols
directed by Tenant during any such visit; and 
 (d) Prospective Tenants. At any time during the last 12 months of the Term (or
earlier if Tenant has notified Landlord in writing that it does not desire to renew the Term) or at any time following the occurrence of an Event of Default which remains uncured, to enter the Premises at all reasonable hours, upon reasonable prior
notice, to show the Premises to prospective tenants; provided, however, except following an Event of Default or in an emergency (in which instances no accompaniment shall be necessary), Tenant shall have a right to have its
representative accompany Landlord at any such visit (and Tenant agrees to make a representative available for any such visit upon at least twenty-four (24) hours’ prior request by Landlord) and Landlord shall observe all reasonable safety
protocols directed by Tenant during any such visit. 
 24. Intentionally Omitted. 

25. Miscellaneous. 

(a) Landlord Transfer. Landlord may transfer any portion of the Project and any of its rights under this Lease. If Landlord assigns its
rights under this Lease, then Landlord shall thereby be released from any further obligations hereunder arising after the date of transfer, provided that the assignee assumes in writing Landlord’s obligations hereunder arising from and after
the transfer date. 
 (b) Limitation of Liability. 

(1) Landlord’s Liability. The liability of Landlord (and its partners, shareholders or members) to Tenant (or any
person or entity claiming by, through or under Tenant) for any default by Landlord under the terms of this Lease or any matter relating to or arising out of the occupancy or use of the Premises and/or other areas of the Building shall be limited to
Tenant’s actual direct, but not consequential, damages therefor and shall be recoverable only from the interest of Landlord in the Building (any the proceeds of any sale thereof), and Landlord (and its partners, shareholders or members) shall
not be personally liable for any deficiency. The provisions of this Section shall survive any expiration or termination of this Lease. 

  
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 (2) Tenant’s Liability. Except for any damages which Landlord
may suffer because of Tenant’s holding over in the Premises following the expiration of the Term (for which Landlord may recover consequential damages from Tenant), the liability of Tenant to Landlord for any monetary damages arising from any
default by Tenant under the terms of this Lease shall be limited to Landlord’s actual direct, but not consequential damages therefor. Nothing in this Section 25(b)(2) shall affect or limit Landlord’s rights to file legal actions to
recover possession of the Premises, or for injunctive relief against Tenant, or any other non-monetary relief as provided in Sections 18 or 19 of this Lease. 

(c) Force Majeure. Other than for Tenant’s obligations under this Lease that can be performed by the payment of money (e.g.,
payment of Rent and maintenance of insurance), whenever a period of time is herein prescribed for action to be taken by either party hereto, such party shall not be liable or responsible for, and there shall be excluded from the computation of any
such period of time, any delays due to strikes, riots, acts of God, shortages of labor or materials, war, terrorist acts or activities, governmental laws, regulations, or restrictions, or any other causes of any kind whatsoever which are beyond the
control of such party. 
 (d) Brokerage. Neither Landlord nor Tenant has dealt with any broker or agent in connection with the
negotiation or execution of this Lease, other than CBRE, Inc. (on behalf of Landlord), and Savills Studley (on behalf of Tenant), whose commissions shall be paid by Landlord pursuant to a separate written agreement. Tenant and Landlord shall each
indemnify the other against all costs, expenses, attorneys’ fees, liens and other liability for commissions or other compensation claimed by any broker or agent claiming the same by, through, or under the indemnifying party. 

(e) Estoppel Certificates. From time to time, Tenant shall furnish to any party designated by Landlord, within ten (10) business
days after Landlord has made a request therefor, a certificate signed by Tenant confirming and containing such factual certifications and representations as to this Lease as Landlord may reasonably request. Unless otherwise required by
Landlord’s Mortgagee or a prospective purchaser or mortgagee of the Project, the initial form of estoppel certificate to be signed by Tenant is attached hereto as Exhibit F. 

(f) Notices. All notices and other communications given pursuant to this Lease shall be in writing and shall be (1) mailed by first
class, United States Mail, postage prepaid, certified, with return receipt requested, and addressed to the parties hereto at the address specified in the Basic Lease Information, (2) hand delivered to the intended addressee, (3) sent by a
nationally recognized overnight courier service, or (4) sent by facsimile transmission during normal business hours followed by a confirmatory letter sent in another manner permitted hereunder. All notices shall be effective upon delivery to
the address of the addressee (even if such addressee refuses delivery thereof). The parties hereto may change their addresses by giving notice thereof to the other in conformity with this provision. 

(g) Separability. If any clause or provision of this Lease is illegal, invalid, or unenforceable under present or future laws, then the
remainder of this Lease shall not be affected thereby and in lieu of such clause or provision, there shall be added as a part of this Lease a clause or provision as similar in terms to such illegal, invalid, or unenforceable clause or provision as
may be possible and be legal, valid, and enforceable. 

  
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 (h) Amendments; Binding Effect; No Electronic Records. This Lease may not be amended
except by instrument in writing signed by Landlord and Tenant. No provision of this Lease shall be deemed to have been waived by Landlord unless such waiver is in writing signed by Landlord, and no custom or practice which may evolve between the
parties in the administration of the terms hereof shall waive or diminish the right of Landlord to insist upon the performance by Tenant in strict accordance with the terms hereof. Landlord and Tenant hereby agree not to conduct the transactions or
communications contemplated by this Lease by electronic means, except by facsimile transmission as specifically set forth in Section 25(f); nor shall the use of the phrase “in writing” or the word “written” be construed to
include electronic communications except by facsimile transmissions as specifically set forth in Section 25(f). The terms and conditions contained in this Lease shall inure to the benefit of and be binding upon the parties hereto, and upon
their respective successors in interest and legal representatives, except as otherwise herein expressly provided. This Lease is for the sole benefit of Landlord and Tenant, and, other than Landlord’s Mortgagee, no third party shall be deemed a
third party beneficiary hereof. 
 (i) Quiet Enjoyment. Provided Tenant has performed all of its obligations hereunder, Tenant
shall peaceably and quietly hold and enjoy the Premises for the Term, without hindrance from Landlord or any party claiming by, through, or under Landlord, but not otherwise, subject to the terms and conditions of this Lease. 

(j) Entire Agreement. This Lease constitutes the entire agreement between Landlord and Tenant regarding the subject matter hereof and
supersedes all oral statements and prior writings relating thereto. Except for those set forth in this Lease, no representations, warranties, or agreements have been made by Landlord or Tenant to the other with respect to this Lease or the
obligations of Landlord or Tenant in connection therewith. The normal rule of construction that any ambiguities be resolved against the drafting party shall not apply to the interpretation of this Lease or any exhibits or amendments hereto. 

(k) Waiver of Jury Trial. TO THE MAXIMUM EXTENT PERMITTED BY LAW, LANDLORD AND TENANT EACH WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY
LITIGATION OR TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE ARISING OUT OF OR WITH RESPECT TO THIS LEASE OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO. 

(l) Governing Law. This Lease shall be governed by and construed in accordance with the laws of the state in which the Premises
are located. 
 (m) Recording. Tenant shall not record this Lease or any memorandum of this Lease without the prior written consent of
Landlord, which consent may be withheld or denied in the sole and absolute discretion of Landlord, and any recordation by Tenant shall be a material breach of this Lease. Tenant grants to Landlord a power of attorney to execute and record a release
releasing any such recorded instrument of record that was recorded without the prior written consent of Landlord. 

  
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 (n) Water or Mold Notification. To the extent Tenant or its agents or employees
discover any water leakage, water damage or mold in or about the Premises or Project, Tenant shall promptly notify Landlord thereof in writing. 

(o) Joint and Several Liability. If Tenant is comprised of more than one party, each such party shall be jointly and severally liable
for Tenant’s obligations under this Lease. All unperformed obligations of Tenant hereunder not fully performed at the end of the Term shall survive the end of the Term, including payment obligations with respect to Rent and all obligations
concerning the condition and repair of the Premises. 
 (p) Financial Reports. Within 15 days after Landlord’s request, Tenant
will furnish Tenant’s most recent audited financial statements (including any notes to them) to Landlord, or, if no such audited statements have been prepared, such other financial statements (and notes to them) as may have been prepared by an
independent certified public accountant or, failing those, Tenant’s internally prepared financial statements. If Tenant is a publicly traded corporation, Tenant may satisfy its obligations hereunder by providing to Landlord Tenant’s most
recent annual and quarterly reports. Landlord will not disclose any aspect of Tenant’s financial statements that Tenant designates to Landlord as confidential except (1) to Landlord’s Mortgagee or prospective mortgagees or purchasers
of the Building, (2) in litigation between Landlord and Tenant, and/or (3) if required by court order. Tenant shall not be required to deliver the financial statements required under this Section 25(p) more than once in any 12-month period unless requested by Landlord’s Mortgagee or a prospective buyer or lender of the Building or an Event of Default occurs. 

(q) Landlord’s Fees. Whenever Tenant requests Landlord to take any action not required of it hereunder or give any
consent required or permitted under this Lease, Tenant will reimburse Landlord for Landlord’s reasonable, out-of-pocket costs payable to third parties and incurred
by Landlord in reviewing the proposed action or consent, including reasonable attorneys’, engineers’ or architects’ fees, within 30 days after Landlord’s delivery to Tenant of a statement of such costs. Tenant will be obligated
to make such reimbursement without regard to whether Landlord consents to any such proposed action. If Landlord reasonably believes that the out-of-pocket costs payable
to third parties to be incurred by Landlord in reviewing the proposed action or consent will exceed $2,000, Landlord will first notify Tenant of such cost estimate before proceeding with such third-party expenses. If Tenant fails to consent to such
additional costs and expenses within five (5) business days after Landlord’s written notification to Tenant thereof, Tenant shall be deemed to have rescinded its request for such action or consent. 

(r) Telecommunications. Tenant and its telecommunications companies, including local exchange telecommunications companies and
alternative access vendor services companies, shall have no right of access to and within the Building, for the installation and operation of telecommunications systems, including voice, video, data, Internet, and any other services provided over
wire, fiber optic, microwave, wireless, and any other transmission systems (“Telecommunications Services”), for part or all of Tenant’s telecommunications within the Building and from the Building to any other location
without Landlord’s prior written consent, not 

  
 27 

 
to be unreasonably withheld. All providers of Telecommunications Services shall be required to comply with the rules and regulations of the Building, applicable Laws and Landlord’s policies
and practices for the Building. Tenant acknowledges that Landlord shall not be required to provide or arrange for any Telecommunications Services and that Landlord shall have no liability to any Tenant Party in connection with the installation,
operation or maintenance of Telecommunications Services or any equipment or facilities relating thereto. Tenant, at its cost and for its own account, shall be solely responsible for obtaining all Telecommunications Services. 

(s) Confidentiality. Tenant acknowledges that the terms and conditions of this Lease are to remain confidential for Landlord’s
benefit, and may not be disclosed by Tenant to anyone, by any manner or means, directly or indirectly, without Landlord’s prior written consent; however, Tenant may disclose the terms and conditions of this Lease if required by Law or court
order, to its attorneys, accountants, employees and existing or prospective financial partners provided same are advised by Tenant of the confidential nature of such terms and conditions and agree to maintain the confidentiality thereof (in each
case, prior to disclosure). Tenant shall be liable for any disclosures made in violation of this Section by Tenant or by any entity or individual to whom the terms of and conditions of this Lease were disclosed or made available by Tenant. The
consent by Landlord to any disclosures shall not be deemed to be a waiver on the part of Landlord of any prohibition against any future disclosure. 

(t) Authority. Tenant (if a corporation, partnership or other business entity) hereby represents and warrants to Landlord that Tenant is
a duly formed and existing entity qualified to do business in the state in which the Premises are located, that Tenant has full right and authority to execute and deliver this Lease, and that each person signing on behalf of Tenant is authorized to
do so. Landlord hereby represents and warrants to Tenant that Landlord is a duly formed and existing entity qualified to do business in the state in which the Premises are located, that Landlord has full right and authority to execute and deliver
this Lease, and that each person signing on behalf of Landlord is authorized to do so. 
 (u) Hazardous Materials. The term
“Hazardous Materials” means any substance, material, or waste which is now or hereafter classified or considered to be hazardous, toxic, or dangerous under any Law relating to pollution or the protection or regulation of
human health, natural resources or the environment, or poses or threatens to pose a hazard to the health or safety of persons on the Premises or in the Project. Tenant shall not use, generate, store, or dispose of, or permit the use, generation,
storage or disposal of Hazardous Materials on or about the Premises or the Project except for Hazardous Materials used or stored by Tenant in commercially reasonable quantities for Tenant’s operation of a medical therapeutics laboratory, and
then in compliance with all Laws. If Tenant breaches its obligations under this Section 25(u), Landlord may immediately take any and all action reasonably appropriate to remedy the same, including taking all appropriate action to clean up or
remediate any contamination resulting from Tenant’s use, generation, storage or disposal of Hazardous Materials. Tenant shall complete and certify to disclosure statements as reasonably requested by Landlord from time to time relating to
Tenant’s transportation, storage, use, generation, manufacture, or release of Hazardous Materials on the Premises or in the Building, and Tenant shall promptly after Tenant’s receipt thereof deliver to Landlord a copy of any notice of
violation relating to the Premises or the Building of any applicable environmental Law. Tenant shall defend, indemnify, and hold harmless Landlord and its representatives and agents from and against any and all claims, demands, liabilities, causes
of action, suits, judgments, damages and expenses (including reasonable attorneys’ fees and cost of clean up and remediation) arising from Tenant’s failure to comply with the provisions of this Section 25(u). This indemnity provision
shall survive termination or expiration of this Lease. 

  
 28 

 (v) List of Exhibits. All exhibits and attachments attached hereto are incorporated
herein by this reference. 
 Exhibit A- Outline of Premises 

Exhibit B- Description of the Land 

Exhibit C- Building Rules and Regulations 

Exhibit D- Tenant Finish-Work: Allowance (Tenant Performs the Work) 

Exhibit E- Form of Confirmation of Commencement Date Letter 

Exhibit F- Form of Tenant Estoppel Certificate 

Exhibit G- Parking 

Exhibit H- Renewal Option 

Exhibit I- Right of First Offer 

Exhibit J- Termination Option 

(w) Prohibited Persons and Transactions. Tenant represents and warrants to Landlord that Tenant is currently in compliance with and
shall at all times during the Term (including any extension thereof) remain in compliance with the regulations of the OFAC of the Department of the Treasury (including those named on OFAC’s Specially Designated Nationals and Blocked Persons
List) and any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism), or other governmental action relating
thereto. 
 (x) No Invasive Testing. Tenant shall not undertake, nor shall Tenant permit any Tenant Party to undertake, any invasive
investigation, drilling or sampling of the soil or groundwater at the Project without the prior written consent of Landlord, which consent shall be in Landlord’s sole discretion. 

26. Lobby Directory Signage. Landlord shall, at Landlord’s sole cost and expense, cause Tenant to be identified on the
Building lobby directory. 
 27. Monument Signage. For so long as Tenant leases and occupies the entire Premises, Tenant shall
be allowed signage bearing the corporate identification and logo for Tenant on the Building’s currently existing (or replacement) multi-tenant monument sign (the “Monument Signage”). Other than the cost of procurement,
construction and installation of Tenant’s initial Monument Signage (the cost of which shall be the responsibility of Landlord), Tenant is solely responsible for the cost of procurement, construction, installation and maintenance of the Monument
Signage. The Monument Signage is subject to Landlord’s approval in its reasonable discretion, approval by all applicable governmental authorities and compliance with all applicable Laws. Upon the sooner of the expiration or termination of this
Lease or the termination of Tenant’s right to Monument Signage under the terms hereof, Tenant shall, at its sole cost, remove the Monument Signage and restore all damage resulting therefrom. 

  
 29 

 28. Building Signage. For so long as Tenant leases and occupies the entire
Premises, Tenant shall be allowed one (1) sign, bearing the corporate identification and logo for Tenant, on the exterior of the Building (the “Building Signage”). Tenant is solely responsible for the cost of
procurement, construction, installation and maintenance of the Building Signage. The design of the Building Signage must be consistent with the design of other Building exterior signage and must comply with Landlord’s sign criteria for the
Project. The Building Signage is subject to Landlord’s approval in its reasonable discretion, approval by all applicable governmental authorities and compliance with all applicable Laws. Upon the sooner of the expiration or termination of this
Lease or the termination of Tenant’s right to Building Signage under the terms hereof, Tenant shall, at its sole cost, remove the Building Signage and restore all damage resulting therefrom. 

29. Expansion. Provided that no Event of Default then exists, Landlord agrees that upon receipt of an Expansion Request (defined
below) from Tenant, Landlord will use best efforts to provide Tenant with expansion space within the Building and/or Complex (“Expansion Space”), i.e., Landlord will promptly provide Tenant with a
written list of “available space” for lease within the Building and elsewhere in the Complex that meets the criteria set forth in the Expansion Request. As used herein, an “Expansion Request” means a written request
from Tenant, that includes at least the following information: (a) the requested size of the Expansion Space, and (b) the date on which Tenant needs the Expansion Space. As used herein, “available space” means space
which is (i) not then subject to rights of third parties, including, without limitation, rights of first notice, expansion rights, extension rights and/or options to lease, and (ii) not then the subject of active negotiations for lease.
Any expansion and/or relocation of the Premises resulting from an Expansion Request will be subject to the parties’ negotiation and execution of a lease amendment on terms mutually acceptable to both Landlord and Tenant; provided, however, that
upon any such relocation (as opposed to an expansion) of the Premises, Tenant shall be released from all further obligations (except those obligations that expressly survive the expiration or earlier termination of this Lease) with regard to the
original Premises. Landlord shall not be required to respond to more than one Expansion Request within any 6-month period. 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.] 

  
 30 

 LANDLORD AND TENANT EXPRESSLY DISCLAIM ANY IMPLIED WARRANTY THAT THE PREMISES ARE SUITABLE FOR TENANT’S
INTENDED COMMERCIAL PURPOSE, AND TENANT’S OBLIGATION TO PAY RENT HEREUNDER IS NOT DEPENDENT UPON THE CONDITION OF THE PREMISES OR THE PERFORMANCE BY LANDLORD OF ITS OBLIGATIONS HEREUNDER, AND, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN,
TENANT SHALL CONTINUE TO PAY THE RENT, WITHOUT ABATEMENT, DEMAND, SETOFF OR DEDUCTION, NOTWITHSTANDING ANY BREACH BY LANDLORD OF ITS DUTIES OR OBLIGATIONS HEREUNDER, WHETHER EXPRESS OR IMPLIED. 

This Lease is executed on the respective dates set forth below, but for reference purposes, this Lease shall be dated as of the date first
above written. If the execution date is left blank, this Lease shall be deemed executed as of the date first written above. 
  

							
	LANDLORD:	 		 	PARMER RTP, LLC,
		 		 	a Delaware limited liability company
				
		 		 	By:	 	 /s/ Matthew Schwab

		 		 		 	Name: Matthew Schwab
		 		 		 	Title: Authorized Agent
		 		 		 	Execution Date: April 18, 2018
			
	TENANT:	 		 	SHATTUCK LABS, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Josiah Hornblower

		 		 		 	Name: Josiah Hornblower
		 		 		 	Title: President & CEO
		 		 		 	Execution Date: April 17, 2018

  
 31 

 FIRST AMENDMENT TO LEASE AGREEMENT 

This First Amendment to Lease Agreement (this “Amendment”) is executed as of July 24, 2020 (the
“Effective Date”), between PARMER RTP, LLC, a Delaware limited liability company (“Landlord”), and SHATTUCK LABS, INC., a Delaware corporation (“Tenant”). 

RECITALS: 
 A.
Reference is herein made to that certain Lease Agreement dated as of April 17, 2018, between Landlord and Tenant (the “Lease”). Capitalized terms used but otherwise not defined in this Amendment shall have the meaning
ascribed to such terms in the Lease. 
 B. Pursuant to the terms of the Lease, Tenant is currently leasing Suite No. 200, containing
approximately 13,523 rentable square feet (the “Existing Premises”) in the office building commonly known as Building 15 located at 5 Moore Drive, Durham, North Carolina (the “Building”). 

C. Tenant desires to lease the additional space depicted on Exhibit A hereto, consisting of approximately 10,929 rentable square feet,
designated as “Tenant A” and “Tenant C” space on Exhibit A (the “Initial Expansion Premises”), and approximately 7,786 rentable square feet, designated as “Tenant B” space on Exhibit
A (the “Must-Take Expansion Premises”, and together with the Initial Expansion Premises, the “Expansion Premises”), and Landlord has agreed to lease such space to Tenant on the terms and conditions
contained herein. 
 D. In addition, due to a scrivener’s error, the Basic Lease Information of the Lease incorrectly stated the
rentable square footage of the Building as 45,359 rentable square feet, rather than 43,616 rentable square feet. Landlord and Tenant also desire to amend the Lease to correct such scrivener’s error. 

AGREEMENTS: 
 For
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows: 

1. Recitals. The recitals set forth above are true and correct and are hereby incorporated in their entirety. 

2. Building. The rentable square footage of the Building set forth in the Basic Lease Information of the Lease is hereby deleted
and revised to read “43,616 rentable square feet”. 
 3. Expansion Premises; Tenant’s Proportionate Share;
Acceptance. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Expansion Premises on the terms and conditions of the Lease, as modified hereby. Accordingly, from and after the Initial Expansion Effective Date
(defined below), the term “Premises” shall refer collectively to the Existing Premises and the Initial Expansion Premises, and, except as otherwise provided herein, Tenant’s Proportionate Share shall be increased to 56.06%, which is
the percentage obtained by dividing the number of rentable square feet in the Premises (24,452) by the number of rentable square feet in the Building (43,616). In addition, from and after the Must-Take Expansion

  
 First Amendment to Lease
Agreement - Page 1 

 
Effective Date (defined below), the term “Premises” shall refer collectively to the Existing Premises, the Initial Expansion Premises and the Must-Take Expansion Premises, and, except
as otherwise provided herein, Tenant’s Proportionate Share shall be increased to 73.91%, which is the percentage obtained by dividing the number of rentable square feet in the Premises (32,238) by the number of rentable square feet in the
Building (43,616). Tenant accepts the Expansion Premises in their “AS-IS” condition, subject to Landlord’s maintenance and repair obligations expressly set forth in the Lease.
Landlord shall not be required to perform any demolition work or tenant finish-work therein or to provide any allowances therefor, except as expressly set forth in Section 8 and Exhibit B. 

4. Term. 

(a) The Term for the Initial Expansion Premises shall begin on the Initial Expansion Effective Date and the Term for the
Must-Take Expansion Premises shall begin on the Must-Take Expansion Date. The Term for the Initial Expansion Premises and Must-Take Expansion Premises shall expire co-terminously with the expiration date with respect to the Existing Premises (which
expiration date is deemed by Landlord and Tenant to be at 5:00 p.m., Durham, North Carolina time on December 31, 2028), unless sooner terminated as provided in the Lease. 

(b) As used herein, the “Initial Expansion Effective Date” means: the earliest of (a) the
date on which Tenant occupies any portion of the Initial Expansion Premises and begins conducting business therein, (b) the date on which the Work (as defined in Exhibit B hereto) in the Initial Expansion Premises is Substantially
Completed (as defined in Exhibit B hereto), or (c) the date on which the Work in the Initial Expansion Premises would have been Substantially Completed but for the occurrence of any Tenant Delay Days (as defined in Exhibit B
hereto). 
 (c) As used herein, the “Must-Take Expansion Effective Date” means: the earliest of
(a) the date on which Tenant occupies any portion of the Must-Take Expansion Premises and begins conducting business therein, (b) the date on which the Work in the Must-Take Expansion Premises is Substantially Completed, or
(c) the date on which the Work in the Must-Take Expansion Premises would have been Substantially Completed but for the occurrence of any Tenant Delay Days. 

(d) Prior to occupying the Must-Take Expansion Premises, Tenant shall execute and deliver to Landlord a letter substantially in
the form of Exhibit C hereto confirming (1) the Initial Expansion Effective Date, (2) the Must-Take Expansion Effective Date; (3) that Tenant has accepted the Expansion Premises, and (4) that
Landlord has performed all of its obligations with respect to the Expansion Premises (except for punch-list items specified in such letter); however, the failure of the parties to execute such letter shall not defer the Initial Expansion Effective
Date, the Must-Take Expansion Effective Date, or otherwise invalidate the Lease or this Amendment. 
 5. Expansion Premises
Additional Rent. For the initial twenty-four (24) months following the Initial Expansion Effective Date, Tenant’s responsibility for Operating Costs and Taxes for the Expansion Premises shall not exceed an annual rate of $10.00 per
rentable square foot of area in the Expansion Premises. Following the Expiration of such twenty-four (24) month period, Tenant shall pay Additional Rent with respect to the Expansion Premises in the manner provided in the Lease. 

  
 First Amendment to Lease
Agreement - Page 2 

 6. Basic Rent. 

(a) Basic Rent for the Existing Premises shall remain due and payable as provided in the Lease. 

(b) Beginning on the Initial Expansion Effective Date, the monthly Basic Rent for the Expansion Premises shall be the following
amounts for the following periods of time: 
  

													
	 Time Period
	  	Annual Basic
Rent Rate Per
Rentable
Square Foot	 	  	Rentable Square
Feet in Expansion
Premises	 	  	Monthly
Installments of
Basic Rent	 
	 Initial Expansion Effective Date – The day prior to the Must-Take Expansion Effective Date
– 6/30/2022
	  	$	21.63	 	  	 	10,929	 	  	$	19,699.52	 
	 Must-Take Expansion Effective Date – 6/30/2021*
	  	$	21.63	 	  	 	18,715	 	  	$	33,733.79	 
	 7/1/2021 – 6/30/2022
	  	$	22.28	 	  	 	18,715	 	  	$	34,745.80	 
	 7/1/2022 – 6/30/2023
	  	$	22.95	 	  	 	18,715	 	  	$	35,788.18	 
	 7/1/2023 – 6/30/2024
	  	$	23.64	 	  	 	18,715	 	  	$	36,861.82	 
	 7/1/2024 – 6/30/2025
	  	$	24.34	 	  	 	18,715	 	  	$	37,967.68	 
	 7/1/2025 – 6/30/2026
	  	$	25.08	 	  	 	18,715	 	  	$	39,106.71	 
	 7/1/2026 – 6/30/2027
	  	$	25.83	 	  	 	18,715	 	  	$	40,279.91	 
	 7/1/2027 – 6/30/2028
	  	$	26.60	 	  	 	18,715	 	  	$	41,488.30	 
	 7/1/2028 – 12/31/2028
	  	$	27.40	 	  	 	18,715	 	  	$	42,732.95	 

  

	*	 If the Must-Take Expansion Date has not occurred on or before June 30, 2021, then Tenant shall continue to
pay Basic Rent for the Initial Expansion Premises only until such time as the Must-Take Expansion Date occurs, provided that the Basic Rent for the Initial Expansion Premises shall be calculated based on the applicable per square foot base rental
rate set forth in the schedule above. 

  
 First Amendment to Lease
Agreement - Page 3 

 7. Increase in Security Deposit. The amount of the Security Deposit under the
Lease is hereby increased from $30,877.78 to $73,547.98. Contemporaneously with Tenant’s execution and delivery of this Amendment to Landlord, Tenant shall deliver to Landlord an amount equal to the difference between the Security Deposit
currently on hand with Landlord and such increased amount of the Security Deposit. 
 8. Tenant Finish-Work. Landlord shall
construct tenant improvements in the Expansion Premises in accordance with Exhibit B hereto. 
 9. Condition of Existing
Premises. Tenant hereby accepts the Existing Premises in their “AS-IS” condition, subject to Landlord’s maintenance and repair obligations expressly set forth in the Lease. Landlord
shall have no obligation for any construction or finish-out allowance or providing to Tenant any other tenant inducement with respect to the Existing Premises. 

10. Parking. Beginning on the Initial Expansion Effective Date, the amount of unreserved parking spaces allocated to Tenant
pursuant to Exhibit G to the Lease shall increase from thirty-four (34) unreserved spaces to sixty-one (61) unreserved spaces. Beginning on the Must-Take Expansion Effective Date, the amount of
unreserved parking spaces allocated to Tenant pursuant to Exhibit G to the Lease shall increase from sixty-one (61) unreserved spaces to eighty (80) unreserved spaces. 

11. Termination Option. Exhibit J to the Lease regarding the Termination Option is hereby deleted in its entirety. 

12. Loading Dock. During the Term, Landlord may access and operate the loading dock in the Expansion Premises in connection with
operating the gym located in the Building; provided that access shall not unreasonably interfere with Tenant’s operations in the Expansion Premises. 

13. Confidentiality. Tenant acknowledges the terms and conditions of the Lease (as amended hereby) are to remain confidential for
Landlord’s benefit and may not be disclosed by Tenant to anyone, by any manner or means, directly or indirectly, without Landlord’s prior written consent, except to current or prospective investors, lenders and purchasers and to
Tenant’s attorneys, accountants, and other professional service providers. The consent by Landlord to any disclosures shall not be deemed to be a waiver on the part of Landlord of any prohibition against any future disclosure. 

  
 First Amendment to Lease
Agreement - Page 4 

 14. Brokerage. Landlord and Tenant each warrant to the other that it has not
dealt with any broker or agent in connection with the negotiation or execution of this Amendment other than CBRE, Inc. (representing Landlord), whose commission shall be paid by Landlord pursuant to a separate written agreement. Tenant and Landlord
shall each indemnify the other against all costs, expenses, attorneys’ fees, and other liability for commissions or other compensation claimed by any broker or agent claiming the same by, through, or under the indemnifying party. 

15. Prohibited Persons and Transactions. Each of Landlord and Tenant represents and warrants to the other that it is currently in
compliance with and shall at all times during the Term (including any extension thereof) remain in compliance with the regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including
those named on OFAC’s Specially Designated Nationals and Blocked Persons List) and any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit,
Threaten to Commit, or Support Terrorism), or other governmental action relating thereto. 
 16. Ratification. Each of Landlord
and Tenant hereby ratifies and confirms its obligations under the Lease, and represents and warrants to the other that it has no defenses thereto. Additionally, each of Landlord and Tenant further confirms and ratifies that, as of the date hereof,
(1) the Lease is and remains in good standing and in full force and effect, (2) such party has no claims, counterclaims, set-offs or defenses against the other arising out of the Lease or in any way
relating thereto or arising out of any other transaction between Landlord and Tenant, and (3) all tenant finish-work allowances provided to Tenant with respect to the Existing Premises, have been paid in full by Landlord to Tenant, and Landlord
has no further obligations with respect to funding an allowance with respect to the Existing Premises. 
 17. Binding Effect; Governing
Law. Except as modified hereby, the Lease shall remain in full effect and this Amendment shall be binding upon Landlord and Tenant and their respective successors and assigns. If any inconsistency exists or arises between the terms of this
Amendment and the terms of the Lease, the terms of this Amendment shall prevail. This Amendment shall be governed by the laws of the State of Texas. 

18. List of Exhibits. All exhibits and attachments attached hereto are incorporated herein by this reference. 

 

	
	 Exhibit A -      Depiction of Expansion Premises

	 Exhibit B -      Tenant Finish-Work: Landlord Builds to Plans

	 Exhibit B-1-    Approved Space Plan

	 Exhibit C -      Confirmation of Expansion Effective Date

 19. Counterparts. This Amendment may be executed in multiple counterparts, each of which shall
constitute an original, but all of which shall constitute one document. 
 [THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 First Amendment to Lease
Agreement - Page 5 

 This Amendment is executed on the respective dates set forth below, but for reference
purposes this Amendment shall be dated as of the Effective Date. If the execution date is left blank, this Amendment shall be deemed executed as of the Effective Date. 
  

							
	LANDLORD:	 		 	PARMER RTP, LLC,
		 		 	a Delaware limited liability company
				
		 		 	By:	 	 /s/ Matthew Schwab

		 		 	Name:	 	Matthew Schwab
		 		 	Title:	 	Authorized Agent
		 		 	Execution Date: July 24, 2020
			
	TENANT:	 		 	SHATTUCK LABS, INC.,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/ Taylor Schreiber

		 		 	Name:	 	Taylor Schreiber
		 		 	Title:	 	Chief Executive Officer
		 		 	Execution Date: July 24, 2020

  
 First Amendment to Lease
Agreement - Page 6

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