Document:

EX-10.6

 Exhibit 10.6 
  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 Execution copy 

CONFIDENTIAL 
 Manufacturing
and Supply Agreement 
 BETWEEN 

LANXESS CORPORATION 

AND 
 RELYPSA, INC.

 EFFECTIVE AS OF 

NOVEMBER 27, 2012 

 Execution copy 

CONFIDENTIAL 
 TABLE OF
CONTENTS 
  

							
	ARTICLE I DEFINITIONS; ORGANIZATION OF AGREEMENT; RULES OF CONSTRUCTION	  	1
			
	1.      	  	DEFINITIONS	  	1
			
	2.	  	ORGANIZATION OF THIS AGREEMENT; RULES OF CONSTRUCTION	  	7
		  	2.1      	  	Organization.	  	7
		  	2.2	  	Law.	  	7
		  	2.3	  	Headings.	  	7
		  	2.4	  	“Includes”	  	7
		  	2.5	  	Appendices; Quality Agreement.	  	7
		
	ARTICLE II SERVICES GENERALLY; NDA SUPPORT; MANAGEMENT	  	8
			
	3.	  	SERVICES GENERALLY	  	8
		  	3.1	  	Manufacturing Services.	  	8
		  	3.2	  	Purchase Orders.	  	8
		  	3.3	  	Procurement.	  	8
		  	3.4	  	Analytical Support.	  	9
		  	3.5	  	Records.	  	9
		  	3.6	  	Performance of Services by Saltigo.	  	9
			
	4.	  	GOOD FAITH; MANUFACTURING AND SUPPLY TEAM	  	9
		  	4.1	  	Good Faith	  	9
		  	4.2	  	Steering Committee; Operations Supply Team.	  	9
		
	ARTICLE III ACTIVITIES SPECIFIC TO THE INITIAL TERM	  	10
			
	5.	  	FACILITY INVESTMENTS	  	10
		  	5.1	  	Facility Investments.	  	10
		  	5.2	  	Reimbursement for Facility Investments.	  	10
		  	5.3	  	Reimbursement to RELYPSA	  	11
			
	6.	  	NDA SUPPORT	  	11
		  	6.1	  	Approval Activities.	  	11
		  	6.2	  	Payment.	  	12
			
	7.	  	VALIDATION BATCHES	  	12
		  	7.1	  	Validation Batches	  	12
		  	7.2	  	Payment.	  	12
			
	8.	  	MANUFACTURE OF BULK DRUG DURING THE INITIAL TERM	  	12
		  	8.1	  	Initial PO.	  	12
		  	8.2	  	Delivery.	  	13
		  	8.3	  	Payment Under Initial PO.	  	13

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

									
		  	8.4	  	Other Expenses Payable by RELYPSA.	  	 	13	  
		  	8.5	  	Milestone-Based Payments	  	 	13	  
		  	8.6	  	[***] Payments.	  	 	14	  
		  	8.7	  	Appendix 2.	  	 	15	  
		  	8.8	  	Additional Orders of Bulk Intermediate or Bulk Drug During Initial Term.	  	 	15	  
		
	ARTICLE IV ACTIVITIES SPECIFIC TO THE SUBSEQUENT TERM	  	 	15	  
			
	9.	  	INCENTIVE PO; FORECASTS; MINIMUM COMMITMENT; PRICING AND PAYMENT	  	 	15	  
		  	9.1	  	Incentive PO.	  	 	15	  
		  	9.2	  	Strategic Forecast.	  	 	15	  
		  	9.3	  	Delivery Dates; Requirements; Forecasts.	  	 	16	  
		  	9.4	  	Base Price; Base Price Negotiations	  	 	16	  
		  	9.5	  	Minimum Commitment.	  	 	17	  
		  	9.6	  	Firm Orders; Capacity.	  	 	18	  
		  	9.7	  	Other Expenses Payable by RELYPSA.	  	 	18	  
		  	9.8	  	Payment Terms.	  	 	18	  
		  	9.9	  	Default on Undisputed Payment Obligations	  	 	19	  
		
	ARTICLE V PROVISIONS APPLICABLE TO ALL SERVICES UNDER THIS AGREEMENT	  	 	19	  
			
	10.	  	COMMERCIAL MANUFACTURE; OVERALL COVENANTS AND AGREEMENTS	  	 	19	  
		  	10.1	  	Quality Agreement	  	 	19	  
		  	10.2	  	Changes in Specifications.	  	 	19	  
		  	10.3	  	Master Batch Record	  	 	20	  
		  	10.4	  	Stability Studies.	  	 	20	  
			
	11.	  	RAW MATERIALS	  	 	21	  
		  	11.1	  	First MFA PO	  	 	21	  
		  	11.2	  	Standards for Production of MFA.	  	 	21	  
		  	11.3	  	Payment for CFPM Associated with the First MFA PO.	  	 	21	  
		  	11.4	  	Remaining MFA for Initial PO and Key Raw Materials Generally	  	 	22	  
		  	11.5	  	Other Raw Materials	  	 	23	  
			
	12.	  	RELEASE; DELIVERY	  	 	24	  
		  	12.1	  	Release.	  	 	24	  
		  	12.2	  	Delivery.	  	 	24	  
		  	12.3	  	Transportation.	  	 	24	  
		  	12.4	  	Title and Risk of Loss.	  	 	24	  
			
	13.	  	ACCEPTANCE	  	 	24	  
		  	13.1	  	Notification and Review.	  	 	24	  
		  	13.2	  	LANXESS Analysis.	  	 	25	  
		  	13.3	  	Remedy for Nonconformity	  	 	25	  
		  	13.4	  	Dispute Resolution.	  	 	26	  

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

							
	14.	  	WARRANTIES	  	26
		  	14.1	  	LANXESS Warranties.	  	26
		  	14.2	  	RELYPSA Warranties.	  	27
		  	14.3	  	Mutual Warranties.	  	27
		  	14.4	  	Disclaimer of Warranties.	  	27
			
	15.	  	LIMITATION OF LIABILITY	  	28
			
	16.	  	AUDITS AND INSPECTIONS; SAFETY ISSUES	  	28
		  	16.1	  	RELYPSA and Regulatory Audits and Inspections.	  	28
		  	16.2	  	Person in Plant.	  	28
		  	16.3	  	PAI Pre-Audit	  	28
		  	16.4	  	Notices Regarding Safety of Products.	  	29
		  	16.5	  	Regulatory Support.	  	29
			
	17.	  	MANUFACTURING AND PRICE IMPROVEMENTS	  	29
		  	17.1	  	Improvement Initiatives.	  	29
		  	17.2	  	Cooperation in Implementing Improvements	  	30
		  	17.3	  	Cost Sharing	  	30
			
	18.	  	PRODUCT RECALLS	  	30
		  	18.1	  	Recalls	  	30
		  	18.2	  	Notice of Potential Issues.	  	30
		
	ARTICLE VI OTHER GENERALLY APPLICABLE PROVISIONS	  	30
				
	19.	  	TERM	  		  	30
			
	20.	  	INTELLECTUAL PROPERTY	  	31
		  	20.1	  	Background Intellectual Property	  	31
		  	20.2	  	Intellectual Property Generally.	  	31
		  	20.3	  	Discoveries and Improvements.	  	31
		  	20.4	  	LANXESS Intellectual Property.	  	32
		  	20.5	  	LANXESS Right to Use Discoveries	  	32
		  	20.6	  	Limited License.	  	32
			
	21.	  	INSURANCE	  	33
		  	21.1	  	RELYPSA Insurance.	  	33
		  	21.2	  	LANXESS Insurance.	  	33
			
	22.	  	CONFIDENTIALITY	  	33
		  	22.1	  	Confidential Information.	  	33
		  	22.2	  	Exceptions.	  	34
		  	22.3	  	Disclosure Pursuant to Legal Requirements.	  	34
		  	22.4	  	Prior Agreements.	  	34
		  	22.5	  	Survival	  	35
			
	23.	  	TERMINATION	  	35

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

							
		  	23.1	  	By RELYPSA Without Cause.	  	35
		  	23.2	  	Termination by LANXESS Without Cause	  	36
		  	23.3	  	Termination Without Cause in Cases of [***] or in Cases of Failure to	  	
		  		  	Agree on Base Price.	  	37
		  	23.4	  	Material Breach.	  	37
		  	23.5	  	Consequences of Termination/Expiration	  	38
		  	23.6	  	Effect on Firm Orders.	  	39
		  	23.7	  	Accrued Rights; Continuing Obligations.	  	39
		  	23.8	  	Survival of Provisions.	  	39
			
	24.	  	INDEMNIFICATION	  	39
		  	24.1	  	RELYPSA Indemnification	  	39
		  	24.2	  	LANXESS Indemnification	  	40
		  	24.3	  	Indemnification Procedures.	  	40
			
	25.	  	SURVIVAL	  	41
			
	26.	  	FORCE MAJEURE	  	41
			
	27.	  	EXCLUSIVITY	  	41
			
	28.	  	NOTICES	  	41
			
	29.	  	MISCELLANEOUS PROVISIONS	  	42
		  	29.1	  	Assignment; Affiliates; Parties Bound	  	42
		  	29.2	  	Relationship	  	42
		  	29.3	  	Public Announcements	  	43
		  	29.4	  	Waivers.	  	43
		  	29.5	  	Severability.	  	43
		  	29.6	  	English Language	  	43
		  	29.7	  	Counterparts	  	43
		  	29.8	  	Subcontracting.	  	43
		  	29.9	  	Entirety; MOU; Amendments	  	44
		  	29.10	  	No Third Party Beneficiaries	  	44
		  	29.11	  	Preference; Construction	  	44
			
	30.	  	GOVERNING LAW; ARBITRATION; AND JURISDICTION	  	44
			
	31.	  	DISPUTE RESOLUTION	  	45

 APPENDICES 
 Appendix 5.1
– Facility Investments 
 Appendix 6.1 – Approval Activities 

Appendix 8.1 – Initial PO 
 Appendix 8.2 – Initial PO
Delivery Schedule 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 8.7 – Initial PO Payment Schedule 

Appendix 9.1 – Incentive PO Delivery Dates 
 Appendix 9.2
– Strategic Forecast 
 Appendix 9.5(b) – [***] Price Grid 

Appendix 9.8 – Foreign Exchange Rate Adjustment 
 Appendix
11.3 – Initial PO [***] Payment Schedule 
 Appendix 11.4(a) – Initial PO MFA Payment Schedule 

Appendix 11.4(c) – RELYPSA Third Party MFA Suppliers 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Execution copy 

CONFIDENTIAL 
 MANUFACTURING
AND SUPPLY AGREEMENT 
 THIS AGREEMENT is made effective as of November 27, 2012 (the “Effective Date”) by and between
RELYPSA, INC. (“RELYPSA”) and LANXESS CORPORATION (“LANXESS”). Each party is sometimes referred to herein as a “Party” and the parties together as the “Parties.” 

WHEREAS: 
  

	(A)	LANXESS and its Affiliates carry on the business of, inter alia, cGMP bulk manufacture of pharmaceutical products, including polymers, and 

 

	(B)	RELYPSA wishes LANXESS to manufacture Bulk Drug (as defined below) and LANXESS is willing to manufacture Bulk Drug on the terms and conditions set out in this Agreement. 

It is agreed as follows: 
 ARTICLE I 

DEFINITIONS; ORGANIZATION OF AGREEMENT; RULES OF CONSTRUCTION 

1. DEFINITIONS. In this Agreement the following terms shall have the meaning indicated and capitalized terms in the text of this Agreement shall have
the meaning associated with each such term: 
 1.1 “Affiliates” means, with respect to either Party to this Agreement, any
company, partnership or other entity that directly or indirectly controls, is controlled by or is under common control with such Party. For the purpose of this definition, “control” means direct or indirect beneficial ownership or voting
control of at least fifty percent (50%) of the issued share capital in such company or equivalent voting control of a partnership or other entity. 

1.2 “API” means the active pharmaceutical ingredient, [***]. 

1.3 “Approval Date” means the date that RELYPSA receives written notice from the FDA that the Product is approved for
commercial sale. 
 1.4 “Audit” means an audit and inspection of all documents, processes and facilities of LANXESS,
Saltigo, or of any other approved Affiliate, subcontractor or Key Raw Material supplier to the extent such documents, processes or facilities relate to the Manufacture of Bulk Intermediate and Bulk Drug. 

1.5 “Background IP” means Intellectual Property owned or controlled by a Party or its Affiliates prior to the Effective Date
or otherwise independently developed by a Party or its Affiliates outside the scope of the MOU or this Agreement. 
  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

 1.6 “Base Price” means the price specified in the First MFA PO, the Initial PO,
the Incentive PO, or any other Firm Order for the Manufacture of Bulk Drug or Bulk Intermediate or the production of MFA, as applicable, as further described in Section 9.5. 

1.7 “Batch” means a quantity of material that (a) is intended to have uniform character and quality within specified
limits set forth in the Specifications or stability protocol, and (b) is produced according to a single Manufacturing order during the same campaign of Manufacture, and (c) is designated with a single LANXESS lot number. 

1.8 “Bulk Drug” means the bulk form of API which has been Manufactured or is to be Manufactured by LANXESS pursuant to this
Agreement. 
 1.9 “Bulk Intermediate” means the bulk form of [***] which has been Manufactured or is to be
Manufactured by LANXESS pursuant to this Agreement. 
 1.10 “Certificate of Analysis” means a document signed by a qualified
and authorized employee or representative of LANXESS certifying and confirming that the MFA (if produced by LANXESS pursuant to this Agreement), Bulk Intermediate or Bulk Drug to which such document refers conforms to the applicable Specifications.

 1.11 “Certificate of Compliance” means a document signed by a qualified and authorized employee or representative of
LANXESS certifying and confirming that the Bulk Intermediate or Bulk Drug to which such document refers has been Manufactured in accordance with the Master Batch Record, the Quality Agreement, applicable SOPs and cGMP. 

1.12 “cGMP” means the regulatory requirements for current good manufacturing practices required by the applicable Regulatory
Authority with respect to the Manufacture of the Bulk Intermediate and Bulk Drug pursuant to this Agreement, including the United States’ current Good Manufacturing Practices pursuant to the U.S. Federal Food, Drug, and Cosmetic Act, as amended
(21 U.S.C. Sec. 301 et seq., “FDCA”), and relevant regulations promulgated thereunder (including, without limitation, 21 C.F.R. Parts 11, 210 and 211), the European Union’s current Good Manufacturing Practices pursuant to EC
Directive 2003/94/EC of 8 October 2003, and the International Conference on Harmonisation Guidance for Industry Q7 Good Manufacturing Practice Guidance for Active Pharmaceutical Ingredients (“ICH Q7”), and any comparable
regulatory requirements designated by the Parties as applicable in a Firm Order, as such regulatory requirements may be amended from time to time. 

1.13 “Competitive Product” means a [***] therapeutic drug that [***]. 

1.14 “Competitor” means, (i) in the case of LANXESS, a Person who manufactures, or who has an Affiliate who manufactures,
[***] under cGMP, and, (ii) in the case of RELYPSA, a Person who is, or whose Affiliate is, researching, developing, marketing or selling a Competitive Product. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 1.15 “Delivery Date” means the date of receipt of a Batch of Bulk Drug or other
materials by RELYPSA or its designee. 
 1.16 “Effective Date” means the date of this Agreement as set forth above. 

1.17 “Initial Term” means the period from the Effective Date through [***]. 

1.18 “Intellectual Property” means (i) Know-How, (ii) all inventions (whether patentable or unpatentable and whether
or not reduced to practice), all improvements thereto, and all patents, patent applications, and patent disclosures worldwide, together with all reissuances, divisions, continuations, continuations-in-part, revisions, extensions, and reexaminations
thereof, (iii) all copyrightable works, all copyrights, and all applications, registrations and renewals in connection therewith, (iv) trademarks, service marks, trade dress, logos, trade names, and corporate names, together with all
translations, adaptations, derivations, and combinations thereof and including all goodwill associated therewith, (v) all other proprietary rights, and (vi) all copies and tangible embodiments thereof (in whatever form or medium), in each
case whether owned or controlled by a Party or an Affiliate of a Party. 
 1.19 “Intermediates” means all materials between
MFA and Bulk Drug, including [***]. 
 1.20 “Key Raw Materials” means Raw Materials that are identified in the
Quality Agreement as Key Raw Materials. 
 1.21 “Know-How” means any and all proprietary nonpublic information, inventions,
discoveries, trade secrets, processes, techniques, technology, methods, reactions, relationships, theories, physics, conditions, designs and other information (including data, results, reports, expertise, techniques, methods, processes, assays,
developments, standard operating procedures, formulas, and specifications), which are owned or controlled by a Party or an Affiliate of a Party, whether or not patentable, including any of the foregoing that is necessary or useful for the research,
development, Manufacture, use, sale, offer for sale, export, or import of Bulk Intermediate or Bulk Drug. 
 1.22 “LANXESS
Intellectual Property” means all Background IP and Know-How owned or controlled by LANXESS or its Affiliates; provided, however, that LANXESS Intellectual Property conceived, reduced to practice or made by LANXESS after the Effective Date
shall only include Intellectual Property claiming or relating to [***] if such Intellectual Property was developed [***]; and further provided, that nothing in the preceding proviso is intended to modify, alter, or affect the
Parties’ respective ownership of any Intellectual Property relating to [***] to the extent first conceived, reduced to practice or made by LANXESS prior to the Effective Date, whether pursuant to the Previous DSA, the MSA, or otherwise.

 1.23 “Legal Requirements” means cGMP and all laws, rules, regulations, ordinances, guidances, guidelines, and standards
of any international, supranational, national, state, or local governmental authority of competent jurisdiction which are applicable to the circumstances in which the term “Legal Requirements” is used herein. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 1.24 “Manufacture” means the production of Bulk Intermediates and Bulk Drug from
Raw Materials and Bulk Intermediates and shall, where relevant, include receipt of materials, processing, manufacturing, assembling, Release, packaging, handling, testing, quality control, routine follow-up stability studies as required under cGMP
and storage. “Manufactured” and “Manufacturing” shall be interpreted accordingly. 
 1.25
“Manufacturing Facilities” means the LANXESS production facility located at [***] operated by Saltigo and designated as [***] and any other sites or facilities at which any step in Manufacturing occurs or where any
activities subject to cGMP are conducted by or on behalf of LANXESS. 
 1.26 “Manufacturing Records” means all documents
created by LANXESS, any LANXESS Affiliate, or subcontractor of LANXESS or an Affiliate, relating to the production of MFA or the Manufacture of Bulk Intermediate or Bulk Drug, including the Master Batch Record, Batch records, deviation reports, test
results, non-conformance reports, Raw Materials documentation and Certificates of Analysis and/or Compliance. 
 1.27 “Manufacturing
Transfer Information” means all Know-How, Manufacturing Records, registration data, experience, instructions, standards, methods, test and trial results, manufacturing processes, hazard assessments, quality control standards, formulae,
specifications, storage data, samples, drawings, designs, analytical methods, validation reports of analytical methods and all other relevant information relating to the Raw Materials, Bulk Intermediate, and Bulk Drug and the Manufacture, testing or
storage of the Bulk Intermediate and Bulk Drug; provided, however, that Manufacturing Transfer Information shall not include any LANXESS Intellectual Property. 

1.28 “Master Batch Record” means the complete instructions and procedures for the Manufacture of the Bulk Intermediate and
Bulk Drug as developed and maintained in LANXESS’s standard format and agreed upon by the Parties, including the identification of Raw Materials, required formulation, yield, manufacturing procedures, in-process control testing requirements,
storage and labeling. 
 1.29 “[***]” means the Intermediate which is [***]. 

1.30 “MFA” means the Raw Material methyl 2-fluoroacrylate. 

1.31 “MOU” means the Memorandum of Understanding between the parties with an Effective Date of November 27, 2012, as
amended. 
 1.32 “MSA” means the Master Services Agreement between the Parties dated as of January 1, 2011. 

1.33 “NDA” means a New Drug Application filed for the Product by RELYPSA with the FDA and all subsequent
submissions, supplements or amendments related thereto. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 1.34 “Nonconforming” means that a Batch of Bulk Intermediate or Bulk Drug, as
applicable, does not comply with all of the warranties in Section 14.1(a). “Nonconformity” and “Nonconform” shall be interpreted accordingly. 

1.35 “PAI” means the pre-approval inspection conducted by the FDA in connection with its review of an NDA which LANXESS must
pass in order to perform all of its Manufacturing obligations under this Agreement. 
 1.36 “Person” means an
individual, sole proprietorship, partnership, limited partnership, limited liability partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture or other similar entity
or organization. 
 1.37 “PO” means a written order from RELYPSA to LANXESS which shall specify (i) the quantity of
MFA, Bulk Intermediate or Bulk Drug ordered, (ii) the Base Price for MFA, Bulk Intermediate or Bulk Drug, as applicable, and the schedule of payment, (iii) the Specifications for such material, (iv) the requested Release and Delivery
Dates for such material, (v) the requested delivery destination for such material, and (vi) such other matters as may be relevant to such order. 

1.38 “Previous DSA” means the Development Services Agreement entered into by and between LANXESS and Ilypsa, Inc.
(“Ilypsa”) effective January 28, 2005, as amended by Amendment No. 1 effective January 28, 2005, and as assigned from Ilypsa to RELYPSA [***] on October 24, 2007, and as amended by Amendment No. 2
effective October 20, 2010. 
 1.39 “Product” means the RELYPSA proprietary product containing API packaged and labeled
in finished dosage form from Bulk Drug. 
 1.40 “Product Launch” means the first commercial sale of the Product to a
wholesaler, healthcare management organization, hospital or pharmacy in either the United States, Canada or the European Union after the applicable Regulatory Approval is issued. 

1.41 “Quality Agreement” means the Quality Agreement dated as of June 27, 2013, between LANXESS and RELYPSA, as the same
may be amended, which constitutes an integrated part of this Agreement and defines the quality assurance responsibilities of the Parties as they relate to this Agreement. 

1.42 “Raw Materials” means all materials, including packaging materials, used in the Manufacture of Bulk Intermediate or Bulk
Drug. 
 1.43 “Regulatory Approval” means any product license, marketing authorization or clinical trials certificate issued
by the relevant Regulatory Authority permitting, as appropriate, the importation, distribution, sale, marketing and/or use of the Product in any country. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 1.44 “Regulatory Authority” means the European Medicines Agency, the U.S. Food
and Drug Administration (“FDA”) or any equivalent competent governmental regulatory body in any other jurisdiction that regulates the Manufacturing and commercialization of the Products in such jurisdiction. 

1.45 “Release” means the end result of the process performed by LANXESS in accordance with cGMP and the SOPs by which LANXESS
determines that a Batch of Bulk Intermediate or Bulk Drug complies with the warranties in Section 14.1(a) or that MFA produced by LANXESS complies with Section 11.2. “Released” shall be interpreted accordingly. 

1.46 “RELYPSA Intellectual Property” means Background IP and Know-How owned or controlled by RELYPSA or its Affiliates. 

1.47 “Saltigo” means Saltigo GmbH, an Affiliate of LANXESS. 

1.48 “Services” means the services to be performed by LANXESS under the MOU and/or this Agreement, including Manufacturing.

 1.49 “SOPs” means the internal standard operating procedures as established by an operator of a Manufacturing Facility
from time to time. 
 1.50 “Specifications” means the specifications of the API, Raw Materials, and [***], along with
the set of analytical test methods and acceptance criteria applicable thereto, as set forth in the Quality Agreement, as such Specifications may be amended in accordance with Section 10.2 and the change control procedures in the Quality
Agreement. With respect to MFA produced by LANXESS, the term “Specifications” also includes the specifications for such MFA. 

1.51 “Subsequent Term” means the sixty (60) month period beginning at the expiration of the Initial Term and ending on
December 31, 2020. 
 1.52 “Term” has the meaning set forth in Section 19. 

1.53 “Third Party” means any Person other than RELYPSA or LANXESS or their respective Affiliates. 

Each of the following definitions is found elsewhere in this Agreement at the indicated page: 

 

															
	[***] Price Grid	  	18	  		  	Competitive	  	17	  		  	Established Exchange Rate	  	18
	Approval Activities	  	11	  		  	Confidential Information	  	32	  		  	Exchange Rate Tolerance	  	18
	[***]	  	14	  		  	[***]	  	17	  		  	Facility Investments	  	10
	[***]	  	21	  		  	Discoveries	  	31	  		  	FDA	  	5
	Changes in Specifications	  	19	  		  	Effective Date	  	  i	  		  	Firm Order	  	8

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

															
	First MFA PO	  	21	  		  	[***]	  	14	  		  	RELYPSA Information	  	30
	Force Majeure	  	40	  		  	LANXESS Indemnitees	  	39	  		  	RELYPSA Insurance	  	32
	Forecast	  	16	  		  	Losses	  	39	  		  	RELYPSA Materials	  	  8
	Improvements	  	29	  		  	MT	  	10	  		  	Steering Committee	  	  9
	Incentive PO	  	15	  		  	Observation Visit	  	28	  		  	Target Year	  	17
	Indemnitee	  	39	  		  	OST	  	  9	  		  	Term	  	30
	Indemnitor	  	39	  		  	Parties	  	  i	  		  	Validation Batches	  	12
	Initial PO	  	12	  		  	RELYPSA Indemnitees	  	39	  		  		  	

  

	2.	ORGANIZATION OF THIS AGREEMENT; RULES OF CONSTRUCTION 

 2.1 Organization. Pursuant
to certain binding terms of the MOU, LANXESS agreed to produce MFA and Manufacture and supply Bulk Intermediate and Bulk Drug for the Initial Term. In addition, among other binding terms in the MOU, if LANXESS met certain requirements, RELYPSA
agreed to issue a binding PO for the Manufacture of certain quantities of Bulk Drug by LANXESS during the Initial and Subsequent Term. In this Agreement, Article III addresses specific obligations of the Parties with respect to the Manufacture of
Bulk Drug during the Initial Term and Article IV addresses specific obligations with respect to the Manufacture of Bulk Drug during the Subsequent Term. Articles II, V and VI include provisions that apply to the production of MFA and the Manufacture
of Bulk Intermediate and Bulk Drug in the Initial and Subsequent Terms as well as other provisions agreed upon by the Parties that apply to the Services to be performed hereunder. 

2.2 Law. Any reference, express or implied, to any law includes references to 

(a) that law as amended, extended or applied by or under any other law (before or after the signature of this Agreement) and

 (b) any subordinate legislation made (before or after the signature of this Agreement) under that law, as amended,
extended or applied. 
 2.3 Headings. The headings in this Agreement are for convenience of reference only and do not affect the
interpretation or scope of this Agreement or any provision herein. 
 2.4 “Includes”. Wherever any provision of this
Agreement uses the term “including” (or “includes”), such term shall be deemed to mean “including, without limitation” and “including, but not limited to.” 

2.5 Appendices; Quality Agreement. The Appendices attached hereto and the Quality Agreement are an integral part of this
Agreement and are incorporated herein by reference. 

  
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 ARTICLE II 

SERVICES GENERALLY; NDA SUPPORT; MANAGEMENT 
  

	3.	SERVICES GENERALLY 

 3.1 Manufacturing Services. During the Term, and subject to
the terms and conditions of this Agreement, Saltigo, on behalf of LANXESS, shall (a) produce [***] MT of MFA in accordance with the terms of the First MFA PO and Section 11.2 and (b) Manufacture for commercial sale and supply
Bulk Drug ordered by RELYPSA under Firm Orders in compliance with (i) cGMP, (ii) the Master Batch Record, (iii) the covenants and warranties of LANXESS hereunder, (iv) the Specifications for MFA, Bulk Intermediate and Bulk Drug,
(v) this Agreement, (vi) the Quality Agreement, and (vii) all applicable Legal Requirements, and (c) deliver Bulk Drug to RELYPSA or a Third Party designated by RELYPSA in writing in accordance with the applicable Firm Order, and
RELYPSA shall purchase such MFA and Bulk Drug. 
 3.2 Purchase Orders. During the Term, RELYPSA shall submit POs to LANXESS covering
RELYPSA’s Firm Orders. If the terms set forth in a PO are consistent with the terms of this Agreement and the Quality Agreement, LANXESS shall confirm receipt of such RELYPSA PO within [***] of receipt. Upon sending of the confirmation,
and [***], such PO shall become a firm order binding upon the Parties (a “Firm Order”). If any of the terms of a PO submitted by RELYPSA is not consistent with the terms of this Agreement or the Quality Agreement, or if
LANXESS does not agree with any term therein that requires the mutual agreement of the Parties under this Agreement or the Quality Agreement (including [***]), LANXESS shall so notify RELYPSA within [***] of receiving such PO, and the
Parties will use reasonable best efforts to resolve any disputed terms as promptly as possible, and RELYPSA shall resubmit the PO after all such disputed terms have been resolved. Failure of LANXESS to issue such confirmation or notice with such
[***] shall be deemed a confirmation of the PO by LANXESS and such PO shall constitute a Firm Order. For the avoidance of doubt, LANXESS is not [***]. Each Firm Order will consist of, and be governed by, the terms of this Agreement,
and in the event of any conflict between the terms of any PO or any confirmation and this Agreement, the terms of this Agreement shall control. The Parties acknowledge and agree that the First MFA PO and the Initial PO have each been issued and
accepted and are Firm Orders. Firm Orders cannot be changed without the prior written approval of each Party, unless otherwise expressly provided in this Agreement. 

3.3 Procurement. LANXESS shall be responsible for the procurement, proper quality and documentation of the quality of Raw Materials,
components, equipment and the Manufacturing Facilities used for the Manufacture of Bulk Intermediate and Bulk Drug in accordance with the Quality Agreement and cGMP, unless otherwise agreed in writing by the Parties in a Firm Order or otherwise set
forth in this Agreement. Any Raw Materials, Bulk Intermediate, in-process materials, Bulk Drug and/or derivatives that were supplied or purchased by RELYPSA or for which LANXESS was reimbursed by RELYPSA shall be the property of RELYPSA
(“RELYPSA Materials”). Except as otherwise agreed to hereunder, LANXESS shall not use or transfer to any Third Party any RELYPSA Materials without prior written approval of RELYPSA and shall use such RELYPSA Materials solely to
perform this Agreement. For the avoidance of doubt, RELYPSA Materials do not include any Facility Investments. 

  
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 3.4 Analytical Support. LANXESS shall provide the agreed analytical support for Raw
Materials, Bulk Intermediate, and/or Bulk Drug, cleaning, potency, controls for impurities in MFA and other Raw Materials, Bulk Intermediates and/or Bulk Drug, cGMP testing and documentation, and the like, according to the Quality Agreement and the
Specifications and as required by in this Agreement or each Firm Order. LANXESS shall maintain suitable written records to verify compliance with this Section and RELYPSA may audit such records in accordance with the Quality Agreement. 

3.5 Records. LANXESS shall, in accordance with applicable Legal Requirements, including cGMP, and the Quality Agreement maintain
complete Manufacturing Records and reports relating to its activities performed in providing the Services under this Agreement (including keeping accurate records of the production of MFA and the Manufacture of Bulk Intermediate and Bulk Drug). The
original Manufacturing Records shall be held in secure storage by LANXESS for the applicable periods required by the Quality Agreement. The format and content of such records will follow LANXESS’s SOPs in accordance with LANXESS’s
Technical Registration Document (TRD); provided, that Batch records and all other documents will be in the German language. LANXESS shall provide RELYPSA with access to all such records in accordance with the Quality Agreement. The Parties agree
that, except as otherwise expressly provided in Sections 9.7 and 9.9(c), LANXESS shall have [***]. 
 3.6 Performance of
Services by Saltigo. The Parties acknowledge that Services will be performed by Saltigo and subcontractors of Saltigo (including other LANXESS Affiliates) on behalf of LANXESS. 

 

	4.	GOOD FAITH; MANUFACTURING AND SUPPLY TEAM 

 4.1 Good Faith. RELYPSA agrees
(i) to cooperate and deal honestly and in good faith with LANXESS to facilitate LANXESS’s performance of the Services, and (ii) to disclose any material information that RELYPSA believes is reasonably necessary for LANXESS to perform
the Services in a timely fashion, subject to the terms set forth herein. LANXESS agrees (a) to cooperate and deal honestly and in good faith with RELYPSA, and (b) to disclose any material information that LANXESS reasonably believes to be
necessary for RELYPSA to receive the full benefit of such Services, subject to the terms set forth herein. 
 4.2 Steering Committee;
Operations Supply Team. 
 (a) The Parties hereby establish a Steering Committee (“Steering
Committee”) comprised of two (2) senior executives of each Party. The Steering Committee shall be a forum for strategic communications and planning on topics including the ongoing commercial development of the Product, Regulatory
Approval of the Product in additional jurisdictions, Raw Material strategies, cost reduction initiatives and similar high-level matters. The Steering Committee shall meet in person or by 

  
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telephone on an as-needed basis. As a forum for communication and discussion of strategic issues, the Steering Committee may make recommendations to the Parties, but will not have any decision
making authority on behalf of either Party. 
 (b) The Parties hereby establish an Operations Supply Team
(“OST”) to coordinate and facilitate communications between the Parties about operational matters such as the timing and volume of the purchase of Raw Materials, scheduling of manufacturing runs, Release dates and Delivery Dates,
the resolution of supply, quality and equipment issues, and similar matters of an operational nature. The OST shall be composed of six (6) members; three (3) members appointed by each Party. Either Party may designate a substitute for any
of its OST representatives who is unable to be present at a meeting in person or by telephone. Each Party may replace any or all of its OST representatives at any time upon written notice to the other Party. A quorum for a meeting of the OST shall
require the presence of at least two (2) representatives of each Party in person or by telephone. The OST shall meet monthly or as often as necessary during the period beginning on the Effective Date and ending twenty-four (24) months
after the first Regulatory Approval and thereafter on a schedule to be determined by the Parties. All decisions made or actions taken by the OST shall be made by unanimous decision, with the members of one Party cumulatively having one vote and the
members of the other Party cumulatively having one vote. Each Party shall establish its own internal rules for determining how its OST members will determine its one vote. The OST shall have no power to amend, waive or overrule the terms of this
Agreement, and the OST is not a substitute for the rights of the Parties, including the ability of the Parties to enforce their respective rights under this Agreement where applicable. 

ARTICLE III 
 ACTIVITIES
SPECIFIC TO THE INITIAL TERM 
  

	5.	FACILITY INVESTMENTS 

 5.1 Facility Investments. LANXESS shall complete
modifications to the Manufacturing Facility [***] in [***] to support the scale up of the Manufacture of Bulk Drug to [***] volumes of [***] metric tons (“MT”) to [***] MT per annum to support
RELYPSA’s Product Launch and market development of the Product (the “Facility Investments”). A detailed breakdown of the individual elements associated with the overall investment is attached hereto as Appendix 5.1,
which includes a list of equipment. LANXESS (or Saltigo, as applicable) shall be and remain the exclusive owner of all Facility Investments, including all equipment purchased and built into the Manufacturing Facility [***] in [***] in
the course of the Facility Investments. The Parties agree that LANXESS may manufacture other products at the Manufacturing Facility [***] in [***] if [***] under this Agreement. The Facility Investments will be completed in
accordance with all Legal Requirements in all material respects and in a reasonable, diligent and workmanlike manner, and LANXESS shall use its reasonable best efforts to meet all requirements necessary for the cGMP Manufacture of pharmaceutical
products. 
 5.2 Reimbursement for Facility Investments. LANXESS has [***] of the Facility Investments and LANXESS shall use
its reasonable best efforts to complete the physical 

  
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installation, qualification and validation of the Facility Investments by the [***]. For such Facility Investments, RELYPSA agrees to pay LANXESS up to a maximum of US [***] Dollars
(US $[***]). Payment for the Facility Investments will be made as follows: 
 (a) US [***] Dollars (US
$[***]) [***] days following RELYPSA’s receipt of LANXESS invoice and written certification that [***]. 

(b) US [***] Dollars (US $[***]) [***] days following RELYPSA’s receipt of LANXESS invoice and written
certification that [***]. 
 (c) US [***] Dollars (US $[***]) [***] days following RELYPSA’s
receipt of LANXESS invoice and written certification that [***]. 
 5.3 Reimbursement to RELYPSA. If RELYPSA pays for such
Facility Investments and LANXESS terminates this Agreement, other than for a material breach by RELYPSA or pursuant to Section 23.2(b), or if LANXESS fails the PAI that proximately causes a delay of the Approval Date for more than [***],
then LANXESS shall repay amounts paid by RELYPSA for Facility Investments to RELYPSA according to the following schedule (without duplication and using the percentage corresponding to the latest applicable termination date), regardless of whether
such improvements have been used to Manufacture Bulk Intermediates or Bulk Drug. The Parties agree that the foregoing is the sole reimbursement obligation by LANXESS to RELYPSA regarding the Facility Investments. 

 

			
	Termination Date	  	Repayment
		
	 Before end of Initial Term or if LANXESS fails the PAI that proximately causes a delay of the Approval Date for more than
[***]
	  	[***]
		
	 On or before [***]
	  	[***]
		
	 On or before [***]
	  	[***]
		
	 On or before [***]
	  	[***]
		
	 On or before [***]
	  	[***]
		
	 On or before [***]
	  	[***]

 For purposes of this Section 5.3, “termination” shall be deemed to occur upon delivery of the
written notice required by the relevant subsection of Section 23. 
  

	6.	NDA SUPPORT 

 6.1 Approval Activities. LANXESS shall work cooperatively with
RELYPSA to support RELYPSA with its US NDA submission and approval activities [***]. Such approval activities agreed upon by the Parties as of [***] 2013, with associated allocations of responsibility and timelines
(“Approval Activities”), are listed on Appendix 6.1 hereto. The Parties will update Appendix 6.1 as they may mutually agree in writing and agree, to the extent feasible, to complete all Approval
Activities necessary or desirable in such NDA relating to the Manufacture of Bulk Intermediate and Bulk Drug by [***], 2014. Prior to submission of the NDA to the FDA, RELYPSA shall provide 

  
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LANXESS with a copy of those sections of the chemistry, manufacturing and controls (“CMC”) section of the NDA pertaining specifically to the Manufacture of Bulk Drug at the
Manufacturing Facilities for review and comment and shall provide a final copy of the such sections to LANXESS upon submission of the NDA to the FDA. 

6.2 Payment. RELYPSA shall pay LANXESS a total of US [***] Dollars (US $[***]) for the satisfactory completion of its
Approval Activities. The sum of US [***] Dollars (US $[***]) has been paid by RELYPSA under the MOU for [***] of the Approval Activities. US [***] Dollars (US $[***]) will be invoiced by LANXESS on satisfactory completion
of [***] Approval Activities and be payable in accordance with Section 9.8. 
  

	7.	VALIDATION BATCHES 

 7.1 Validation Batches. Following the completion of the
Facility Investments and prior to the commencement of Manufacturing for Product Launch, LANXESS will Manufacture and Release a quantity of Bulk Intermediate and Bulk Drug as specified by RELYPSA to validate Manufacturing at the Facility (the
“Validation Batches”). The Validation Batches shall be Manufactured in accordance with all of the requirements of this Agreement. 

7.2 Payment. Unless the payments required by Section 8.5 are made, RELYPSA shall pay LANXESS (i) US [***] Dollars (US $[***])
following LANXESS’s written certification that [***], (ii) US [***] Dollars (US $[***]) following LANXESS’s written certification that [***], and (iii) US [***] Dollars (US $[***]) following the [***]. Payment for the Validation
Batches shall be credited against the Base Price for the Manufacture of Bulk Drug under the Initial PO. 
  

	8.	MANUFACTURE OF BULK DRUG DURING THE INITIAL TERM 

 8.1 Initial PO.
RELYPSA’s initial purchase order (the “Initial PO”) for the quantities of Bulk Drug to be Manufactured by LANXESS during the Initial Term was issued by RELYPSA under the terms of the MOU, is attached hereto as Appendix
8.1, is incorporated herein by reference, has been accepted by LANXESS and is a Firm Order. The Base Price for Bulk Drug in the Initial PO for [***] MT of Bulk Drug is US [***] Dollars (US $[***]) per kilogram. LANXESS shall
Manufacture, supply and Release to RELYPSA (or RELYPSA’s designee) and RELYPSA shall pay for and take delivery of those Batches of Bulk Drug set forth in the Initial PO that are Manufactured in accordance of the terms of this Agreement. The
Parties agree that Appendix 6 attached to the Initial PO is hereby deleted, superseded and replaced in its entirety by Section 8.5 and the other terms and conditions of this Agreement. 

  
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 8.2 Delivery. The [***] MT of Bulk Drug set forth in the Initial PO will be
Manufactured, Released and delivered to RELYPSA or its designee in accordance with the Delivery Dates set forth in Appendix 8.2, subject to a Force Majeure event or an exercise by RELYPSA of its option to [***] pursuant to
Section 8.6. 
 8.3 Payment Under Initial PO. RELYPSA shall pay LANXESS for the Manufacture of Bulk Drug during the Initial Term
at the Base Price in accordance with the payment terms set forth in the Initial PO, except to the extent expressly modified by this Agreement. 

8.4 Other Expenses Payable by RELYPSA. In addition to the Base Price, RELYPSA shall pay all transportation and freight expenses for Bulk
Drug from the Manufacturing Facility [***] in [***] to its designated delivery point and any associated taxes, duties, customs, insurance and fees for the export, import, carriage and transportation of Bulk Drug, including costs
of [***]. All such expenses shall be charged to RELYPSA at LANXESS’s actual cost without administrative fee or other markup. 

8.5 Milestone-Based Payments. Certain payments to be made by RELYPSA under the Initial PO shall be [***] if LANXESS achieves
certain milestones as follows: 
 (a) No later than [***], LANXESS shall (i) certify to RELYPSA in writing that
all [***] and all documents necessary for RELYPSA’s [***] and invoice RELYPSA for the US [***] Dollars ($[***]) remaining to be paid for such activities, and (ii) certify in writing to RELYPSA that all [***]. If
LANXESS makes both such certifications, then RELYPSA will pay LANXESS US [***] Dollars (US $[***]) for [***] within [***] days of receipt of LANXESS’s invoice in [***] as an [***] payment for the Manufacture
of [***] that will be [***] under the Initial PO. If LANXESS makes both required certifications then RELYPSA will make the [***] payment set forth herein. If LANXESS does not make both required certifications , then
(A) RELYPSA shall not make such [***] payment for Bulk Intermediate and shall pay LANXESS the Base Price of the Manufacture of Bulk Drug following [***], unless LANXESS [***], in which event such US $[***] payment
will be made pursuant to that Subsection, and (B) if LANXESS fails to provide the certification under subsection (a)(i) above, then RELYPSA shall [***] for its [***] until [***] following [***] of those activities
and receipt of the required certification and invoice. 
 (b) No later than [***], LANXESS shall (i) certify to
RELYPSA in writing that [***] and LANXESS is [***] and (ii) invoice RELYPSA for the [***] in the amount of US [***] Dollars (US $[***]). Within [***] days of the receipt of LANXESS’s certification and
invoice, RELYPSA will pay LANXESS the foregoing amount. If LANXESS fails to make the required certification and/or issue its invoice by [***], then LANXESS shall have until [***] to cure. If LANXESS effects a cure and makes both the
required certification and issues the required invoice on or before [***], RELYPSA will make the payment set forth herein. If LANXESS fails to effect a cure by such date then (A) RELYPSA shall not be required to make the US [***]
Dollar (US $[***]) payment for [***] and such payment will be incorporated in the payments for the [***] required to be Manufactured using such [***], (B) RELYPSA shall have no obligation to issue the [***], and
(C), RELYPSA shall [***] payment in the amount of US [***] Dollars (US $[***]) for [***] until its receipt of LANXESS’s certification under clause (b)(i) above and pay for the [***] when such [***]. 

  
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 (c) No later than [***], LANXESS shall (i) invoice RELYPSA in the
amount of US [***] Dollars (US $[***]) and certify that it is ready to [***], (ii) invoice RELYPSA in the amount of US [***] Dollars (US $[***]) associated with the [***] of the [***] during the first half of
[***], and (iii) invoice RELYPSA in the amount of US [***] Dollars (US $[***]) for the [***]. The Parties agree that RELYPSA shall have [***] days from the date of the receipt of the invoice under the foregoing
clause (c)(ii) to make such payment. Payment under Subsection (c)(iii) shall be an [***] payment that will be [***] for the [***]. If LANXESS fails to make such certification and/or submit such invoices and/or [***], it
will have [***] days to cure. If LANXESS effects a cure and makes both the required certification and issues the required invoices and [***] on or before [***], RELYPSA will make the [***] payments set forth herein. If
LANXESS fails to cure such failures within such [***] day period then (A) RELYPSA shall [***] to make the [***] payment provided in Section 8.5(a) regardless of whether LANXESS has complied with the conditions
precedent in such subsection, and (B) LANXESS shall invoice RELYPSA in the amount of US [***] Dollars (US $[***]) upon [***] the [***] and invoice RELYPSA for the balance due for such [***] in the amount of US
[***] Dollars (US $[***]) upon [***]. 
 (d) For purposes of clarity and avoidance of disputes, all milestone
payments actually made by RELYPSA under Subsections 8.5(a) – (c) shall be credited against amounts otherwise due for such activities as provided in other Sections of this Agreement, as more fully described on Appendix 8.7 attached
hereto. 
  

	 	8.6	[***] Payments. 

 (a) The Parties agree that commencement of the
Manufacture of the Bulk Drug will be [***] at [***] for [***] and will [***] for the commencement of Manufacture of the Validation Batches of Bulk Drug and in [***] for the Manufacture of Bulk Drug. LANXESS will
invoice RELYPSA [***] in [***] and [***] in [***] for such [***], and RELYPSA will pay to LANXESS such amounts according to the payment terms in Section 9.8. Furthermore, the Parties agree that RELYPSA will
pay for [***] produced and Released in this [***] at an agreed price of US $[***] per kilogram according to the payment terms in Section 9.8. 

(b) Until completion of Manufacturing under the Initial PO, RELYPSA shall have the option to [***] the Manufacture of
Bulk Intermediate (including the Validation Batches thereof) (an “[***]”) and/or [***] the Manufacture of Bulk Drug (including the Validation Batches thereof) (a “[***]”) on at least thirty (30) days
prior written notice to LANXESS. If RELYPSA exercises this option, then RELYPSA will pay LANXESS a [***] fee of [***] for each thirty (30) days of an [***] or a [***] (for a total of [***] if the option is
exercised to [***]) according to the payment terms in Section 9.8. Notwithstanding the foregoing, no such payments for an [***] and/or a [***] shall be due if the [***] is a result of LANXESS’s [***]. For
the avoidance of doubt, Manufacturing under the Incentive PO (or any other PO issued in lieu thereof as provided in this Agreement), if issued, will [***], unless the Parties otherwise agree in writing. 

  
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 (c) If RELYPSA makes payments to LANXESS pursuant to Section 8.6(b) for both
an [***] and a [***] totaling at least [***] or a [***] totaling at least [***], then RELYPSA shall be entitled to [***] of any such [***] payments made against the Base Price for the Manufacture of
Bulk Drug during the Subsequent Term at a rate of [***] of the Base Price for each Batch until the [***] is [***] in full. 

8.7 Appendix 2. The Parties agree that Appendix 2 attached to the Initial PO and the MOU is hereby deleted and replaced in its entirety
by the terms and conditions of this Agreement and Appendix 8.7 attached to this Agreement. 
 8.8 Additional Orders of Bulk
Intermediate or Bulk Drug During Initial Term. If RELYPSA desires to order additional quantities of Bulk Intermediate or Bulk Drug prior to issuance of the Incentive PO or the commencement of the Subsequent Term, whichever first occurs,
and LANXESS agrees to Manufacture such additional quantities, RELYPSA shall submit, and LANXESS shall accept within [***], a new PO setting forth a Base Price and such other appropriate terms as the Parties may mutually agree upon. 

ARTICLE IV 
 ACTIVITIES
SPECIFIC TO THE SUBSEQUENT TERM 
  

	9.	INCENTIVE PO; FORECASTS; MINIMUM COMMITMENT; PRICING AND PAYMENT 

 9.1 Incentive PO.
If (i) LANXESS is in compliance with this Agreement in all material respects, (ii) LANXESS performs [***] in all material respects, (iii) LANXESS [***], and (iv) the activities set forth in Section [***]
are [***], then RELYPSA will place an additional PO for [***] MT of Bulk Drug with the option to place a PO for an additional [***] MT of Bulk Drug (the “Incentive PO”) within [***] of the receipt of
notice from the [***] that LANXESS has [***]. The Base Price of such Bulk Drug shall be US [***] Dollars (US $[***]) per kilogram for the first [***] MT of Bulk Drug Manufactured under the Incentive PO, and, if
RELYPSA exercises its option for an additional [***] MT of Bulk Drug, the Base Price for such [***] MT of Bulk Drug shall be US [***] Dollars (US$[***]) per kilogram. Bulk Drug Manufactured under the Incentive PO, if
issued, shall be delivered in accordance with the Delivery Dates set forth in Appendix 9.1, unless otherwise agreed in writing by the Parties. Notwithstanding anything to the contrary in this Section 9.1, RELYPSA retains the right to
waive the conditions precedent to the Incentive PO and issue such PO whether or not LANXESS has met each of the required conditions. In addition, RELYPSA may waive the [***] condition in the foregoing clause (iii) with respect to a
portion of the volume of the Incentive PO and divide the Incentive PO into two separate POs (which together would constitute the Incentive PO) if [***] may adversely affect delivery in accordance with the agreed upon schedule. 

9.2 Strategic Forecast. RELYPSA’s current non-binding, five (5) year strategic forecast of RELYPSA’s total
worldwide requirements for Bulk Drug is attached as Appendix 9.2. RELYPSA shall deliver to LANXESS an updated strategic forecast on a rolling calendar year basis starting on January 1, [***] and in January of each calendar year
thereafter. RELYPSA will provide LANXESS with any updates to its strategic 

  
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forecast after approval of such updates by its Board of Directors. Beginning in June [***], LANXESS shall provide RELYPSA with a non-binding five (5) year report, by calendar year, of
the quantities of Bulk Drug it has the capacity or plans to have the capacity to Manufacture for RELYPSA. LANXESS shall update its report in June of each year thereafter, including lead times to increase capacity in response to any request by
RELYPSA for increased volumes. 
 9.3 Delivery Dates; Requirements; Forecasts. 

(a) LANXESS’s current Release and delivery schedule for the Bulk Drug to be Manufactured under the Initial PO is set forth
in Appendix 8.2. 
 (b) Beginning [***], RELYPSA shall provide LANXESS with a PO for its requirements for Bulk
Drug for the [***] months beginning [***] (except to extent that any months in that period are covered by the Incentive PO or another PO), so long as the Parties have agreed under Section 9.4 on a Base Price for such period. In
the first month of each calendar quarter thereafter, RELYPSA shall provide LANXESS with a PO for its requirements for Bulk Drug for the [***] calendar quarter thereafter so long as the Parties have agreed on a Base Price for such quarter and
such quarter is not otherwise covered by another PO. Along with the PO, RELYPSA shall provide a non-binding forecast of its good faith estimates of potential requirements per month for the Manufacture of Bulk Drug by LANXESS for the [***]
month period following the period covered by the latest PO (the “Forecast”). Assuming agreement on a Base Price, each such PO, when accepted by LANXESS as provided in Section 3.2, shall be a Firm Order pursuant to which LANXESS
shall Manufacture and RELYPSA shall purchase the volumes of Bulk Drug specified therein in accordance with the terms of this Agreement. For the avoidance of doubt, Firm Orders shall be in place for at least each rolling [***] quarter period,
subject to the Parties’ agreement on the applicable Base Price and acceptance of the PO pursuant to Section 3.2. As of the first calendar quarter after the [***] of the first commercial sale of the Product, RELYPSA’s PO shall
cover a rolling [***] month period and the Forecast shall no longer be provided. 
 9.4 Base Price; Base Price Negotiations.

 (a) The Base Price for Bulk Drug in the Initial PO and any subsequent PO shall be stated on a per kilogram basis
([***] excluded) and, except as otherwise expressly provided in this Agreement, shall include all Services required to Manufacture Bulk Drug, including the costs of all Raw Materials, transportation of Raw Materials to the Manufacturing
Facility and all other steps required for the Manufacture and Release of Bulk Drug (including the Manufacture of Bulk Intermediate to be used in the Manufacture of Bulk Drug). The Parties agree that, with respect to any PO following the Initial PO,
the Base Price includes the costs of any MFA necessary to LANXESS’s Manufacture of Bulk Drug under those POs, but the Base Price in the Initial PO does not include the cost of MFA. For POs following the Initial PO, the costs of MFA shall be
separately itemized on LANXESS’s invoices provided under Section 9.8(a), except in the event that LANXESS has independently identified and qualified the particular MFA supplier at its own cost. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (b) Each September, beginning September [***], the Parties will negotiate
in good faith a Base Price for Bulk Drug to be Manufactured by LANXESS for the twelve (12) month period beginning January 1 of the year immediately following the next calendar year (the “Target Year”). For example, the
negotiations commencing in September 2016 will be negotiations for a Base Price for Bulk Drug Manufactured commencing January 1, 2018 and ending December 31, 2018. The negotiation period shall commence on September 1 and end not later
than [***] of each year. The initial negotiations commencing in September [***] will include negotiation of the quantities and Base Price for Bulk Drug Manufactured during [***] and January 1, [***]. To facilitate
the negotiations, each Party shall provide such information as it considers pertinent to the negotiations and RELYPSA shall provide a draft forecast for the Target Year period, as necessary. LANXESS shall provide RELYPSA with a proposal for a Base
Price. If the Parties are unable to agree upon the Base Price for the Target Year by [***], the negotiations shall terminate and either Party may elect to terminate this Agreement in accordance with Section 23.3(b). The Parties’
agreement on the negotiated Base Price and agreed volume for the Target Year, if any, shall be confirmed in a writing signed by authorized representatives of each Party. 
  

	 	9.5	Minimum Commitment. 

 (a) Following completion of Manufacturing under the
Initial PO and Incentive PO (if issued), and subject to the terms of this Section 9.5, RELYPSA will purchase, and LANXESS will Manufacture, at least [***] MT of Bulk Drug during each Target Year during the Term for which there is
agreement on the Base Price in accordance with Section 9.4(b) and such Base Price is Competitive, commencing in [***]. For purposes of this Section 9.5, “Competitive” means that the agreed Base Price, if any, or the
price quoted by LANXESS, per kilogram of Bulk Drug (on a [***] basis) for the Target Year is [***]; provided however, that the agreed Base Price, if any, or the price quoted by Lanxess, is not [***]; where
“[***]” means a supplier for whom RELYPSA has (i) [***] or (ii) has [***]. The quotes received from all designated suppliers of Bulk Drug (including LANXESS) shall quote a price on a per kilogram basis
([***] excluded) and shall include all services required to manufacture Bulk Drug, including the costs of all raw materials, transportation of raw materials to the manufacturing facility and all other steps required for the manufacture
and release of Bulk Drug. Competitive pricing does not mean that LANXESS has to quote [***] to RELYPSA or must [***]. In connection with the annual Base Price negotiations under Section 9.4, upon the request of LANXESS, an
independent public accounting firm retained by RELYPSA shall examine RELYPSA’s records and inform LANXESS whether the Base Price, if one is agreed upon by the Parties, is Competitive. If the independent public accounting firm determines that
the Base Price is Competitive, then RELYPSA shall bear the expense of such examination, and If it determines that the Base Price is not Competitive, then LANXESS shall bear the expense of such examination. 

(b) Notwithstanding the foregoing, based on its strategic forecast RELYPSA may elect to order and purchase at least
[***] MT of Bulk Drug but less than [***] MT of Bulk Drug for the [***] Target Year, in which event the Base Price for the volumes actually covered by Firm Orders for such Target Year shall be as set forth in the price and
volume grid attached as Appendix 9.5(b) (the “[***] Price Grid”). 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 9.6 Firm Orders; Capacity. RELYPSA hereby reserves, and LANXESS confirms the reservation
of, capacity at the Manufacturing Facility to fulfill RELYPSA’S Firm Orders for Bulk Drug during the Term subject to any limitations on that capacity disclosed in LANXESS annual report under Section 9.2. 

9.7 Other Expenses Payable by RELYPSA. In addition to the Base Price, RELYPSA shall pay all transportation and freight expenses for Bulk
Drug from Manufacturing Facility [***] in [***] to its designated delivery point and any associated taxes, duties, customs, insurance and fees for the export, import, carriage and transportation of Bulk Drug, including costs of
[***]. All such expenses shall be invoiced to RELYPSA at LANXESS’s actual cost without any administrative fee or other markup. 
  

	 	9.8	Payment Terms. 

 (a) No payment shall be due and RELYPSA shall have no
obligation to pay until receipt of a satisfactory invoice from LANXESS. Unless a different period is expressly provided in this Agreement, all payments due and owing by RELYPSA to LANXESS shall be made within [***] days after RELYPSA’s
receipt of LANXESS’s invoice reasonably describing the Services for which payment is due and owing. Unless otherwise expressly authorized by this Agreement, LANXESS shall not issue any invoice prior to the time that LANXESS performs the
Services to which such invoice relates. Except as otherwise expressly provided herein, all advance payments authorized by this Agreement will be applied against the first invoices issued for the Services for which the advance payment was made until
the advance is exhausted in full. In the event of early termination of this Agreement, any advance payments made under Section 8.5 will be refundable to the extent LANXESS does not deliver such materials (or in the case of Bulk Intermediate,
such Bulk Intermediate or any Bulk Drug resulting from use of such Bulk Intermediate) to RELYPSA or its designee in accordance with Section 23. 

(b) LANXESS shall invoice RELYPSA and RELYPSA shall pay LANXESS in USD for all amounts due hereunder at an agreed USD/€
exchange rate (the “Established Exchange Rate”), which will initially be $[***] USD/€. Fluctuations in the actual exchange rate will only result in price adjustments if the exchange rate moves outside of ±
$[***] USD/€ from the Established Exchange Rate (the “Exchange Rate Tolerance”) within which both Parties accept a certain degree of risk. Outside the Exchange Rate Tolerance, both Parties agree to share risks and
benefits equally. Data relating to the currency and payments will be reviewed on a quarterly basis and reconciliations will be made on a semi-annual basis as provided in Appendix 9.8. The Established Exchange Rate will be adjusted on the
first day of each calendar year if the actual exchange rate, as determined by reference to the average monthly exchange rate as published at Oanda.com, has stayed outside the range covered by the Exchange Rate Tolerance continuously for the last
three months of the previous calendar year. At any such time, a new Established Exchange Rate will be set equal to the average actual 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
exchange rate for such three-month period. In the event that the EURO ceases to be the national currency of Germany, the Parties will negotiate a substitute established exchange rate utilizing
the replacement currency of Germany that shall have a substantially similar economic effect to the Established Exchange Rate. 

(c) RELYPSA may in good faith question any amount invoiced under this Agreement by notifying LANXESS within thirty
(30) days of its receipt of the invoice that RELYPSA has questions about or otherwise disputes the accuracy or appropriateness of such invoice. The Parties shall negotiate in good faith to resolve any such questions and shall exchange all
relevant documentation that may assist with such resolution. The undisputed amounts in any such invoice shall be paid according to Section 9.8(a) above. 

9.9 Default on Undisputed Payment Obligations. In addition to all other remedies available to LANXESS, if RELYPSA fails to make any
undisputed payment when due and payable hereunder, LANXESS may impose an administrative fee equal to [***] percent ([***]%) per month on the undisputed unpaid amount until paid in full. In addition, if such failure to make an
undisputed payment continues for a period of [***] days following written notice from LANXESS, LANXESS may refuse all further POs, refuse to Manufacture or Release any materials that RELYPSA has not paid for until RELYPSA’s account is
paid in full, modify the applicable terms of payment, place the account on a letter of credit basis, require full or partial payment in advance, suspend deliveries of material that RELYPSA has not paid for until RELYPSA provides assurance of
performance reasonably satisfactory to LANXESS, and/or take other reasonable actions as LANXESS may determine. For purposes of clarity and avoidance of disputes, LANXESS shall not be able to withhold Manufacture, Release and/or delivery of any Bulk
Drug for which payment has been made by RELYPSA and LANXESS’s rights under this Section 9.9 shall cease upon payment of any undisputed amounts in full (until, if ever, another failure to pay occurs). 

ARTICLE V 
 PROVISIONS
APPLICABLE TO ALL SERVICES UNDER THIS AGREEMENT 
  

	10.	COMMERCIAL MANUFACTURE; OVERALL COVENANTS AND AGREEMENTS 

 10.1 Quality
Agreement. At least once each [***] years during the Term or more often as is necessary, the Parties shall review and may amend the Quality Agreement and its Appendices as necessary to comply with then current Legal Requirements or
for other reasons. 
 10.2 Changes in Specifications. The Specifications may be amended by RELYPSA to comply with requirements
set by Regulatory Authorities and for other reasons (the “Changes in Specifications”). LANXESS’s obligation to Manufacture Bulk Drug or Bulk Intermediate in accordance with any Changes in Specifications shall be determined in
accordance with this Section 10.2, and, if the Changes in Specifications are effected in accordance with this Section, then the Parties will comply with the change control procedures set forth in the Quality Agreement. LANXESS may at any time
propose amendments to the Specifications; provided, however, that LANXESS shall make no changes to the Specifications without RELYPSA’s prior written consent in its sole 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
reasonable discretion. Upon receipt from RELYPSA of a written request for Changes in Specifications containing suitable detail and documentation to permit LANXESS to analyze the impact of such
request, LANXESS shall promptly and, in any event, within [***] days (unless a longer period is agreed upon by the Parties as required due to the scope of the requested changes) (i) determine the impacts of the requested Changes in
Specifications on the Manufacturing process (including [***]), (ii) provide a timeline for their implementation, and (iii) propose an increase or decrease in the Base Price for Bulk Drug incorporating the Changes in Specifications.
The Parties will closely cooperate and use reasonable best efforts to agree upon and implement the requested Changes in Specifications if technically feasible and as soon as reasonably practicable provided that RELYPSA [***], and the Parties
agree upon the increase or decrease in the Base Price for Bulk Drug Manufactured in accordance with Specifications incorporating the Changes in Specifications. Any Changes in Specifications that may be agreed upon by the Parties pursuant to this
Section 10.2 will not be effective until the Parties complete the change control procedure in the Quality Agreement to document the Changes in Specifications. The agreed-upon Base Price for Manufacture of Bulk Drug incorporating the Changes in
Specifications shall reimburse LANXESS for all costs for the implementation of such changes and the Manufacture of Bulk Intermediate and/or Bulk Drug, as applicable, in accordance with such changes, including its costs for any delay resulting from
the implementation. Upon the agreement of the Parties in accordance with this Section 10.2 and the change control procedure in the Quality Agreement, the Changes in Specifications will be incorporated into the then current Specifications and
the amended Specifications shall thereafter be Specifications for all purposes under this Agreement; provided, that no Changes in Specifications shall be implemented unless the prior written approval of applicable Regulatory Authorities to the
change, if and to the extent required, has been obtained. Upon LANXESS’ receipt of a written notice from RELYPSA regarding any Changes in Specifications, LANXESS shall not commence or continue to Manufacture and RELYPSA shall have no obligation
to accept or pay for Bulk Drug Manufactured after receipt of such notice without RELYPSA’s prior written consent in its sole discretion, and RELYPSA shall only be required to accept Bulk Drug that conforms to amended Specifications
incorporating such Changes in Specifications. Any Bulk Drug or Bulk Intermediate as to which Manufacturing is completed by LANXESS prior to receipt of such written request for Changes in Specifications and which is Released by LANXESS (and is not
Nonconforming) under the prior Specifications in accordance with this Agreement shall be paid for by RELYPSA. 
 10.3 Master Batch
Record. The Parties acknowledge that a Master Batch Record for the Manufacture of Bulk Intermediate and Bulk Drug has been prepared and agreed upon by the Parties in connection with LANXESS’s Manufacture of Bulk Drug for
RELYPSA’s clinical trials. Prior to the Manufacture of the first Validation Batches of each of Bulk Intermediate and Bulk Drug under the Initial PO, RELYPSA and LANXESS shall each review and mutually approve the Master Batch Record for the Bulk
Intermediate or Bulk Drug, as applicable. 
 10.4 Stability Studies. LANXESS acknowledges and agrees that it is obligated to
and will perform the stability study services that LANXESS has agreed to perform pursuant to a Work Order under the MSA and/or the Previous DSA for the fees set forth in such Work Order. LANXESS shall also perform routine stability testing studies
of Bulk 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
Intermediate and Bulk Drug in accordance with the Quality Agreement and the costs of such Services are included in the Base Price. Any additional stability testing requested by RELYPSA, including
any stability studies associated with process validation activities, shall be subject to mutual agreement of the Parties with respect to the stability testing protocol, price for the Services and other pertinent matters. 

10.5 Consequences of Delay. LANXESS acknowledges the importance to RELYPSA of consistent timely delivery of Bulk Drug in
accordance with Firm Orders and the associated costs to RELYPSA of untimely deliveries which may result in delays in further processing Bulk Drug into Product and the delivery of finished Product to end users. In order to avoid any delays in meeting
agreed Delivery Dates, the OST will review the Release and Delivery Dates on a regular basis of at least [***] month. In the event of potential delays in the supply of Bulk Drug to RELYPSA’s designated warehouse, both Parties will work
together to identify and implement corrective plans to enable Delivery Dates to be achieved or if appropriate rescheduled by mutual agreement. If the cause for potential delay is due to activities performed by LANXESS then LANXESS will use
reasonable best efforts to ensure timely delivery can be achieved, including for example, the use of air freight at LANXESS’s sole expense to achieve the originally agreed Delivery Date or to provide a mutually acceptable revised delivery plan.

  

	11.	RAW MATERIALS 

 11.1 First MFA PO. LANXESS acknowledges its obligation to
produce [***] MT of MFA on the terms and at the price set forth in the First MFA PO (as that term is defined in the MOU). The production by LANXESS of MFA is based upon purchase of the Raw Material, [***] (“[***]”) at
US [***] Dollars (US $[***]) per kilogram, with such [***] price including the cost of transportation to the Manufacturing Facility. In the event of any material changes in the price of [***] necessary to the production
of MFA by LANXESS under the Initial PO, the price for Bulk Drug under the First MFA PO shall be increased or decreased accordingly. For purposes of clarity and avoidance of disputes, the Parties agree that the price of [***] is included in
the price of MFA in the First MFA PO. 
 11.2 Standards for Production of MFA. LANXESS covenants, represents and warrants that
all MFA produced by LANXESS hereunder shall be produced in accordance with a manufacturing process that complies with ISO 9001 and the applicable SOPs and, when Released, shall conform to the Specifications therefor. Release of MFA shall be
documented in a Certificate of Analysis and certificate of compliance with the provisions of this Section 11.2. If any Batch of MFA does not conform to the foregoing, then LANXESS shall promptly, and in any case within [***] days,
replace, reprocess or rework such MFA with or into MFA that conforms to the requirements of this Section 11.2 at LANXESS’s sole expense. 

11.3 Payment for [***] Associated with the First MFA PO. With respect to LANXESS’s actual costs for the acquisition of [***]
for use in the production of MFA under the Initial PO, RELYPSA shall pay LANXESS in accordance with the schedule set forth on Appendix 11.3. All payments for [***], including payments previously made by RELYPSA in [***] and
[***], shall be credited by LANXESS as payments against the total price for the production of MFA under the Initial PO. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 11.4 [***] MFA for Initial PO and Key Raw Materials Generally. 

(a) The Parties agree that the [***] metric tons of MFA [***] the Initial PO shall be [***] by LANXESS
from a mutually agreed upon supplier(s), subject to the successful qualification of such supplier(s) as an approved supplier in accordance with the Quality Agreement. The [***] price for such MFA shall be an average per kilogram price (with
all weights on a [***] basis) plus additional charges, if any, imposed by such supplier(s) that RELYPSA approves, such approval not to be unreasonably withheld, including the actual cost of transportation to the LANXESS Manufacturing Facility
[***] in [***] and all export and import duties, fees and taxes, insurance and costs of [***] (in transit and during storage by LANXESS) without an administrative fee or other markup. Subject to the successful qualification of
each such MFA supplier as an approved supplier, LANXESS shall enter into an agreement with such supplier for the supply of quantities of MFA up to a total of [***]MT, as agreed upon in advance with RELYPSA. LANXESS’s agreement with each
RELYPSA [***] MFA supplier [***] any provisions by which such supplier is [***] of MFA to LANXESS. LANXESS shall use reasonable best efforts to qualify each such supplier as a supplier in accordance with the qualification
activities set forth in Schedule 1 to Appendix II (Quality Checklist) to the Quality Agreement. Upon satisfactory completion of such qualification activities, each such MFA supplier shall be deemed approved by both Parties as a supplier of MFA as
required by this Section 11.4 and Section 6.7 of the Quality Agreement, and LANXESS will inform RELYPSA of the required ordering lead times for operational planning purposes. In the event that an MFA supplier fails to qualify as an
approved supplier in accordance with the foregoing by [***], the Parties shall confer in good faith to determine an appropriate course of action to obtain such MFA from another supplier and/or for LANXESS to produce all or part of such MFA,
each at an agreed upon price and agreed timeline. On or before [***], 2014, the Parties will meet to discuss the then current status of the qualification of MFA suppliers, assess the risk that the qualifications will not be successfully
completed, and, based upon those discussions, determine an appropriate course of action. Prior to the [***], LANXESS shall invoice RELYPSA for its purchases of MFA from such suppliers following the delivery of the MFA and satisfactory
Approval (as defined in the Quality Agreement) of such MFA. A tentative delivery schedule for such MFA is attached as Appendix 11.4(a), which delivery schedule is subject to change upon mutual agreement of the Parties. 

(b) The Parties acknowledge that they have successfully worked to identify and establish supplier relationships with qualified
Third Party suppliers of Key Raw Materials, including MFA, for clinical supplies of Bulk Drug and that, [***], RELYPSA will require [***] quantities of MFA and other Key Raw Materials for the Manufacture of Bulk Intermediate and Bulk
Drug by LANXESS. LANXESS will be primarily responsible for identifying and qualifying (as provided in Section 6.7 of the Quality Agreement) Third Party suppliers of Key Raw Materials, with the regulatory oversight of RELYPSA. In addition,
LANXESS shall be responsible for managing Third Party supplier relationships and acquiring Key Raw Materials, including MFA, on a schedule as determined by LANXESS in consultation with the OST which allows sufficient lead time for the

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
Manufacture of Bulk Intermediate and Bulk Drug pursuant to the schedule set forth in any Firm Order while preserving the maximum feasible useful life for such materials. Except for suppliers of
MFA developed [***], LANXESS’s agreement with each Key Raw Material supplier will [***] by which such supplier is [***] of such Key Raw Material to LANXESS. RELYPSA shall not share information about any Key Raw Material
supplier developed [***]. The Steering Committee will endeavor to resolve any supply chain issues arising between suppliers of Key Raw Materials that may interfere with the ongoing, cost-effective supply of Key Raw Materials. RELYPSA and
LANXESS shall each approve each Third Party supplier of Key Raw Materials as required by the Quality Agreement provided that each such supplier has been qualified by at least LANXESS in accordance with the procedures in the Quality Agreement. For
MFA supplies in addition to the [***] MT that is the subject of Section 11.4(a), the purchase price shall include the costs of transportation to the Manufacturing Facilities and all export and import duties, fees and taxes, insurance and
costs of [***] (in transit and during storage by LANXESS), all without any administrative fee or other markup. 
 (c)
RELYPSA may, in its sole discretion, identify or acquire MFA from Third Party suppliers at RELYPSA’s expense for use in the Manufacture of Bulk Drug by LANXESS, and Appendix 11.4(c) sets forth a list of the Third Party MFA suppliers that
RELYPSA and LANXESS are currently developing, and each Party shall keep the OST advised of any future developed Third Party MFA sources. A [***] of such RELYPSA-identified suppliers shall be qualified by LANXESS in accordance with the Quality
Agreement prior to the use of MFA from such supplier in the Manufacture of Bulk Drug. Upon satisfactory completion of such qualification activities, such RELYPSA-identified supplier shall be deemed approved by both Parties as a supplier of MFA as
required by Section 6.7 of the Quality Agreement, and LANXESS will inform RELYPSA of the required ordering lead times for operational planning purposes. The Base Price for Bulk Drug incorporating MFA acquired by RELYPSA shall be reduced by an
amount equal to RELYPSA’s direct documented costs for such MFA, including the costs of transportation and freight expenses to, Manufacturing Facility [***] in [***] and any associated taxes, duties, customs, insurance and fees for
the export, import, carriage and transportation of such MFA. In addition, RELYPSA, in its sole discretion and subject to the Parties’ agreement upon price and other terms, may issue one or more POs to LANXESS to produce MFA to be used by
LANXESS in the Manufacture of Bulk Drug. 
 11.5 Other Raw Materials. For all other Raw Materials, LANXESS will qualify and contract
with Third Parties and pay for the supply of such Raw Materials as may be necessary to Manufacture Bulk Drug (including without limitation to package Bulk Drug) in accordance with this Agreement and the Quality Agreement including any necessary
qualification of such suppliers. LANXESS shall use the Raw Materials (including Key Raw Materials) delivered pursuant to orders placed under this Agreement only for Manufacturing Bulk Drug. Except as otherwise expressly provided in this Agreement,
the Base Price for Bulk Drug shall include the purchase price of all Raw Materials plus the costs of transportation and freight expenses to Manufacturing Facility [***] in [***] and any associated taxes, duties, customs, insurance and
fees for the export, import, carriage and transportation of such Raw Materials, all at LANXESS’s actual cost, without any administrative fee or other mark up. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	12.	RELEASE; DELIVERY 

 12.1 Release. Unless the Parties otherwise agree from time to
time with respect to specific Batches, no Bulk Intermediate will be used in the Manufacture of Bulk Drug, and no Bulk Drug will be delivered, unless such Bulk Intermediate or Bulk Drug, as applicable, has first been Released by LANXESS (or any Third
Party testing facility qualified by RELYPSA) and, except as otherwise expressly provided herein, RELYPSA shall have no obligation to pay the Base Price for any Batch of Bulk Drug until such Batch is Released. In the event that LANXESS fails to
Release any Batch of Bulk Intermediate because it is Nonconforming, LANXESS shall re-Manufacture or rework such Nonconforming Bulk Intermediate at its expense and remain responsible for performing all of its obligations under this Agreement with
respect to the Manufacture, Release and delivery of the quantities of Bulk Drug subject to the Firm Orders. 
 12.2 Delivery. LANXESS
shall notify RELYPSA of any Bulk Drug being ready for delivery, which materials shall be shipped in accordance with the applicable Firm Order. LANXESS shall deliver the Bulk Drug to RELYPSA, or such nominee as designated by RELYPSA in writing, and
in the quantities and by not later than [***] days after the applicable Delivery Date and otherwise in accordance with the specific delivery provisions set out in the applicable Firm Order. Delays caused primarily by matters under the control
of RELYPSA that cause delivery to exceed the time allotted in a Firm Order, or other delays arising from a Force Majeure event, shall extend LANXESS’s deadlines by a period equal to the length of such delay. 

12.3 Transportation. LANXESS will arrange for transportation of the Released Bulk Drug from LANXESS’s Manufacturing Facility
[***] in [***] to RELYPSA or its designee, and all such deliveries shall be [***] (Incoterms 2010) [***] in [***]. Bulk Drug shall be stored, packaged and shipped in accordance with the Specifications and the
Quality Agreement. LANXESS, in collaboration with the OST, shall use reasonable best efforts to minimize the costs of transportation and associated duties and other expenses whenever possible by, among other things, advance scheduling, negotiating
discounts, and reasonable sourcing of carriers. 
 12.4 Title and Risk of Loss. Title to and all property rights in the MFA, Bulk
Intermediate and Bulk Drug (including any samples or retains) Manufactured under this Agreement shall pass to RELYPSA upon payment of the amounts due for such materials under the Firm Order. Risk of loss of Bulk Drug shall pass from LANXESS to
RELYPSA upon [***] in [***]. 
  

	13.	ACCEPTANCE 

 13.1 Notification and Review. Within [***] days after the
later of (a) receipt of a Batch of Bulk Drug by RELYPSA or its designee or (b) delivery of the executed Certificate of Analysis and Certificate of Compliance for the Batch of Bulk Drug by LANXESS to RELYPSA, RELYPSA, acting reasonably, and
in good faith, may reject such Batch as Nonconforming on written notice of rejection to LANXESS. Notwithstanding the foregoing, in the event of a latent Nonconformity that could not 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
reasonably have been detected by a reasonable and customary inspection and testing on receipt, RELYPSA may reject such Batch within [***] days of discovery of such latent Nonconformity.
RELYPSA’s notice of rejection shall specify the Nonconformity in reasonable detail and be accompanied by supporting data and written reports relating to tests, studies or investigations, if any, performed to date by or on behalf of RELYPSA with
respect to the alleged Nonconformity for purposes of consideration and verification by LANXESS. If RELYPSA fails to give notice of Nonconformity within such time periods, RELYPSA shall be deemed to have waived its right to reject such shipment for
Nonconformity. If LANXESS becomes aware that any shipment of Bulk Drug to RELYPSA is or may be Nonconforming, LANXESS will promptly notify RELYPSA. 

13.2 LANXESS Analysis. RELYPSA’s rejection with respect to any Batch of Bulk Drug shall be conclusive unless LANXESS notifies
RELYPSA in writing within [***] days of receipt by LANXESS of the notice of rejection that it objects to such rejection. Upon receipt by LANXESS of a rejection notice, LANXESS may, in its notice of objection to RELYPSA, require RELYPSA to
return samples of the Batch of Bulk Drug in question, at LANXESS’s cost and risk, to LANXESS for further testing and/or permit a representative of LANXESS to examine the Batch of Bulk Drug at the premises of RELYPSA or its designee. LANXESS
shall complete any investigation of a rejected Batch within [***] days of the later of its delivery of its notice of objection or receipt of samples of the rejected Batch of Bulk Drug, if samples are requested by LANXESS. If it is later
determined by the Parties or the expert under Section 13.4 that the Batch of Bulk Drug was not Nonconforming, RELYPSA shall reimburse LANXESS for the costs of the return of samples of the Batch of Bulk Drug, as well as any other costs or
expenses reasonably incurred by LANXESS, as a result of the rejection or return and retest. If it is determined by the Parties or by the expert under Section 13.4 that the rejected Batch of Bulk Drug was Nonconforming, then RELYPSA shall return
any rejected Batch of Bulk Drug to LANXESS for destruction which destruction in all cases will comply with all Legal Requirements, and LANXESS shall bear all costs and expenses of the transportation and destruction of any rejected Batch and all
other costs and expenses associated with the rejection of the affected Batch including the reasonable expenses incurred by RELYPSA in any testing or examination of the Batch conducted by it or on its behalf. 

13.3 Remedy for Nonconformity. If LANXESS fails to object to RELYPSA’s rejection in accordance with Section 13.2, or if the
Parties agree or the expert determines under Section 13.4 that the rejected Bulk Drug is Nonconforming, then LANXESS shall, at RELYPSA’s option (a) refund to RELYPSA or credit RELYPSA’s account for the amounts paid or payable to
LANXESS by RELYPSA for the Manufacture of such Nonconforming Bulk Drug, or (b) supply to RELYPSA (at LANXESS’s cost, including the cost of MFA and other Raw Materials and components and all transportation and freight expenses) a
replacement of such Nonconforming Batch of Bulk Drug as soon as practicable after the final determination of such Nonconformity. The foregoing remedy shall apply as well to any Batch of Bulk Drug not Released by LANXESS because it is Nonconforming.
For purposes of clarity, refund or replacement of Nonconforming Bulk Drug is not RELYPSA’s exclusive remedy and RELYPSA retains all other remedies available to it in law or equity. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 13.4 Dispute Resolution. If LANXESS objects to RELYPSA’s rejection in accordance with
Section 13.2 and the Parties cannot resolve such dispute under Section 30(a) within [***] days, LANXESS and RELYPSA will jointly appoint an independent scientific and technical expert of recognized repute within the pharmaceutical
and chemical industries acceptable to both Parties to review the Parties’ evidence supporting their positions relating to such alleged Nonconformity and will cooperate with each other to ensure that such expert has appropriate information and
agreements in place to enable it to make a determination of whether such Nonconformity exists. If the Parties are not able to agree upon an expert within such period, the expert will be selected by the international division of the American
Arbitration Association, the International Centre for Dispute Resolution. The findings of the expert shall be final and conclusively binding on the Parties as to whether the Bulk Drug is Nonconforming, absent manifest error. If the expert holds that
the Bulk Drug is Nonconforming, all the fees and costs of the expert and the independent laboratory appointed by the expert to analyze such Bulk Drug shall be paid by LANXESS. If the expert holds that the Bulk Drug is not Nonconforming, all such
fees and costs of the laboratory and the expert will be paid by RELYPSA, and RELYPSA shall pay for and be considered to have finally and completely accepted the Batch of the Bulk Drug that was the subject of the investigation. 

 

	14.	WARRANTIES 

 14.1 LANXESS Warranties. LANXESS covenants, represents and warrants
as follows: 
 (a) Bulk Intermediates and Bulk Drug Warranties. Each Batch of Bulk Intermediate and Bulk Drug
(i) will be Manufactured in compliance with the Master Batch Record, cGMP, the applicable SOPs, the Quality Agreement, and all other applicable Legal Requirements in all material respects, (ii) when Released will conform to the
Specifications, (iii) when Released shall not be adulterated or misbranded by LANXESS as those terms are used in the FDCA, (iv) shall be transferred free and clear of any liens or encumbrances of any kind arising through LANXESS or its
Affiliates or their respective agents or subcontractors (subject to RELYPSA’s payment obligations therefor), and (v) will be Manufactured on behalf of LANXESS by Saltigo at the Manufacturing Facility [***] in [***], unless
otherwise agreed by the Parties in writing. LANXESS (A) is not, and its Affiliates performing Services on its behalf as permitted hereunder and their respective personnel are not, debarred or disqualified, and will not knowingly use in any
capacity in connection with the Services hereunder the services of any Person debarred or disqualified, under Section 306(a) or (b) of the FDCA (21 U.S.C. §§ 335(a) or (b)), and (B) will comply with the U.S. Foreign Corrupt
Practices Act. 
 (b) Internal Audits. LANXESS will perform internal cGMP audits no less than once per year as
required by cGMP and shall give a written certification of compliance with cGMP to (i) RELYPSA upon RELYPSA’s request, (ii) an independent Third Party appointed by RELYPSA and reasonably acceptable to LANXESS, upon RELYPSA’s
request, and/or (iii) Regulatory Authorities upon such Regulatory Authorities’ request. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (c) Regulatory Requirements. LANXESS shall (i) comply in all material
respects with all applicable environmental laws and regulations relevant to the production of MFA (if produced by LANXESS) and the Manufacture of Bulk Intermediate and Bulk Drug, and (ii) have and shall maintain all necessary and applicable
licenses, registrations and permits, including any registrations, licenses or permits required by the FDCA or other Legal Requirements. 

14.2 RELYPSA Warranties. RELYPSA covenants, represents and warrants that (i) the use, distribution, marketing, and/or sale of the
Product by RELYPSA and its distributors and licensees shall comply with all applicable Legal Requirements in all material respects, (ii) it has provided LANXESS with the information and documentation regarding the API that is reasonably
required for LANXESS to Manufacture the Bulk Intermediate and Bulk Drug and otherwise perform its obligations under this Agreement (when taken together with any information made available to LANXESS under the MSA and Previous DSA), (iii) it has
(or will have prior to first commercial sale of the Product) and shall maintain all necessary and applicable licenses, registrations and permits for the distribution, marketing and sale the Product in the jurisdictions in which such distribution,
marketing or sales occur, (iv) it will comply in all material respects with all export administration and control Legal Requirements as may be applicable to the re-export, transshipment, resale or other disposition of any Bulk Drug purchased
from LANXESS hereunder, and (v) it will comply with the U.S. Foreign Corrupt Practices Act. 
 14.3 Mutual Warranties. RELYPSA
represents and warrants that it has the authority to enter into this Agreement without the consent of any Third Party, and to the best of its knowledge as of the Effective Date, the API does not infringe or misappropriate any valid intellectual
property rights of any Third Party. LANXESS represents and warrants that it has the authority to enter into this Agreement without the consent of any Third Party, and to the best of its knowledge as of the Effective Date, with respect to LANXESS
Intellectual Property, the production of MFA by LANXESS and the Manufacture of Bulk Intermediate and Bulk Drug does not infringe or misappropriate any valid intellectual property rights of any Third Party. Each Party represents and warrants to the
other that the execution, delivery and performance of this Agreement has been duly authorized by all requisite corporate action on the part of such Party and that this Agreement constitutes the legal, valid and binding obligation of such Party and
is enforceable against such Party in accordance with its terms, subject to bankruptcy insolvency and similar laws affecting the enforceability of creditors’ rights generally and to general principles of equity. 

14.4 Disclaimer of Warranties. Except as expressly provided in this Agreement, neither Party makes any warranties, written, oral,
express or implied, with respect to the MFA, Bulk Intermediate or Bulk Drug, or Services provided hereunder. ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A
PARTICULAR PURPOSE AND NONINFRINGEMENT HEREBY ARE DISCLAIMED. NO WARRANTIES OF A PARTY MAY BE CHANGED EXCEPT IN WRITING AND SIGNED BY A DULY AUTHORIZED REPRESENTATIVE OF SUCH PARTY. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 15. LIMITATION OF LIABILITY. EXCEPT FOR CLAIMS FOR PAYMENT DUE BY RELYPSA HEREUNDER, INDEMNIFICATION
(SECTION 24, [***]), BREACH OF CONFIDENTIALITY (SECTION 22) OR BREACH OF INTELLECTUAL PROPERTY (SECTION 20) OR GROSS NEGLIGENCE, FRAUD OR WILLFUL MISCONDUCT, (i) IN THE EVENT OF BREACH OF A PARTY’S OBLIGATIONS HEREUNDER OR ANY ACT
OR OMISSION IN CONNECTION WITH SUCH PARTY’S PERFORMANCE OF ITS OBLIGATIONS HEREUNDER, THE LIABILITY OF A PARTY TO THE OTHER PARTY UNDER THIS AGREEMENT SHALL NOT EXCEED THE AGGREGATE MAXIMUM AMOUNT OF US [***] DOLLARS (US $[***])
FOR EACH CALENDAR YEAR, AND (ii) WITH RESPECT TO ANY CLAIM BY ONE PARTY AGAINST THE OTHER PARTY, THE LIABILITY OF A PARTY SHALL BE LIMITED AT LAW OR IN EQUITY TO DIRECT DAMAGES ONLY AND, IN NO EVENT, SHALL A PARTY BY LIABLE TO THE OTHER PARTY
FOR PUNITIVE, EXEMPLARY, INCIDENTAL, SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING LOSS OF REVENUE OR PROFIT, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. FOR AVOIDANCE OF DISPUTES THE LIMITATION ON THE AGGREGATE LIABILITY OF A PARTY
ABOVE SHALL BE DETERMINED BASED UPON THE CALENDAR YEAR IN WHICH THE EVENTS GIVING RISE TO THE CLAIM OCCURRED. [***]. 
  

	16.	AUDITS AND INSPECTIONS; SAFETY ISSUES 

 16.1 RELYPSA and Regulatory Audits and
Inspections. The rights and obligations of the Parties with respect to Audits or inspections by RELYPSA or Regulatory Authorities are governed by the Quality Agreement. 

16.2 Person in Plant. RELYPSA may from time to time send up to two (2) employees to visit the Manufacturing Facilities to observe
the Manufacturing process (including Release) for Bulk Intermediate and/or Bulk Drug (an “Observation Visit”), subject to the prior approval of LANXESS, which approval shall not be unreasonably withheld; provided, that:
(i) RELYPSA provides LANXESS reasonable advance notice of at least ten (10) business days; (ii) the Parties agree on the purpose, timing, duration and space and administrative accommodations; (iii) such employees may only be
present during regular business hours; (iv) LANXESS is actually Manufacturing Bulk Intermediate or Bulk Drug; and (v) such RELYPSA personnel respect (A) the confidentiality obligations that LANXESS owes to its other customers and
(B) LANXESS’s ability to conduct its business and operations without undue burden or interference. At all times during an Observation Visit, RELYPSA’s employees shall comply with LANXESS’s procedures regulating external customer
relationships (including cGMP training, hygiene, security, confidentiality and controlled access to facilities). RELYPSA shall be responsible for all acts and omissions of its employees while they are on the Manufacturing Facility premises during an
Observation Visit. RELYPSA shall bear its own expenses in connection with any such Observation Visit 
 16.3 PAI Pre-Audit; PAI. With
respect to the PAI by the FDA, the OST shall plan for such inspection in advance, and without prejudice to RELYPSA’s Audit rights under the Quality Agreement and right to Observation Visits as provided in Section 16.2, RELYPSA shall be
entitled to conduct two pre-PAI Audits prior to the PAI to Audit PAI-readiness, each of which shall be conducted in the manner to be determined by the OST 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
and at RELYPSA’s expense. LANXESS shall reasonably promptly provide a written response to any observations made by RELYPSA in such pre-PAI Audit and shall implement any agreed corrective
actions prior to the PAI. LANXESS shall use its reasonable best efforts to fully prepare for and pass the PAI, including promptly and undertaking and completing corrective actions to remedy any deficiencies noted by the FDA. 

16.4 Notices Regarding Safety of Products. LANXESS shall provide RELYPSA with reasonably prompt notice of any credible information
directed to LANXESS or Saltigo from any source if LANXESS recognizes such information as regarding adverse events associated with the Product. RELYPSA will be responsible at its expense for handling all Product safety complaints, including any
necessary communications with the FDA or any other Regulatory Authority and filing any reports with the FDA or other Regulatory Authority concerning such safety matters. LANXESS will cooperate and provide reasonable assistance in responding to any
safety-related requests for information, including reviews of retained samples and Manufacturing and test protocols as well as testing the API against the appropriate retained samples, if required. RELYPSA will reimburse LANXESS for reasonable costs
and expenses incurred therewith to the extent that the safety issue is not a result of Nonconforming Bulk Drug in which case LANXESS shall solely bear all such costs and expenses. For purposes of clarity, the Parties agree that compliance with Legal
Requirements relating to pharmacovigilance of the Product are the sole responsibility of RELYPSA. 
 16.5 Regulatory Support. LANXESS
shall assist RELYPSA in the preparation of documentation in relation to the Manufacture of Bulk Drug as may be reasonably required by RELYPSA in support of RELYPSA’s submissions to Regulatory Authorities in respect of the Product. LANXESS shall
also respond in a timely manner, with due consideration to the nature of the circumstances and to any reasonable timing requested by RELYPSA, to all queries and requests for information from the FDA or other Regulatory Authorities. In the event
RELYPSA requires records or documentation in order to file applications comparable to an NDA in countries other than the United States, LANXESS will assist RELYPSA in the preparation of such records and documentation to the extent requested by
RELYPSA. RELYPSA shall pay LANXESS’s reasonable expenses incurred in connection with any of the foregoing. 
  

	17.	MANUFACTURING AND PRICE IMPROVEMENTS 

 17.1 Improvement Initiatives. The Parties
are committed to continuous improvement initiatives in an effort to achieve cost savings in the Manufacture of Bulk Intermediate and Bulk Drug, including reducing the acquisition cost of Raw Materials and achieving efficiencies in the Manufacturing
process without adversely impacting safety, quality, Manufacturing capability or compliance with cGMP and the Specifications (“Improvements”). During the Term, LANXESS will use reasonable best efforts to effect Improvements.
RELYPSA, at its own cost and expense, may develop Improvements directly or through a Third Party. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 17.2 Cooperation in Implementing Improvements. The Parties will evaluate and, as
appropriate, recommend Improvements for implementation into the Manufacture of Bulk Intermediate and Bulk Drug and/or acquisition of Raw Materials under this Agreement. The Parties will work together cooperatively and use reasonable best efforts to
implement any recommended Improvements, including reasonable cooperation with respect to scheduling test Batches of Bulk Intermediate and/or Bulk Drug to validate any process Improvements, modifications to the Specifications, modifications to the
Master Batch Record and other steps as necessary to ensure that Batches of Bulk Intermediate or Bulk Drug Manufactured utilizing process Improvements conform to this Agreement, cGMP and the Quality Agreement. In addition, LANXESS will, at
RELYPSA’s expense, reasonably assist RELYPSA in its efforts to obtain any Regulatory Approvals necessary or desirable to implement Improvements, including providing technical documentation and support. 

17.3 Cost Sharing. The Parties will [***] of Improvements on the quantities and Base Price of Bulk Drug under existing or future
Firm Orders. The amount of cost savings resulting from, and the allocation of any additional costs and expenses arising from the development and implementation of, an Improvement including reductions in the acquisition costs of Raw Materials, will
be [***] by the Parties [***]. 
  

	18.	PRODUCT RECALLS 

 18.1 Recalls. If LANXESS or RELYPSA is required or requested by
any Regulatory Authority or other government authority, or if RELYPSA in its sole discretion otherwise elects, to recall, withdraw or dispose of any Product for any reason, RELYPSA shall be responsible for conducting any recall, withdrawal or
disposal of such Product, and LANXESS shall cooperate with and give all reasonable assistance to RELYPSA in conducting any such recall, withdrawal or disposal, at RELYPSA’s expense, except in the event and only to the extent such recall,
withdrawal or disposal is caused by LANXESS’s breach of its warranties under Section 14, in which case it shall be at LANXESS’s expense, subject to the limitations set forth in Section 15. 

18.2 Notice of Potential Issues. RELYPSA shall keep LANXESS informed of any information it receives involving the Product that relates
to any hazards to the health or safety of any personnel of LANXESS or the cross contamination of other materials being manufactured or processed by LANXESS at the Manufacturing Facilities. 

ARTICLE VI 
 OTHER
GENERALLY APPLICABLE PROVISIONS 
 19. TERM. Subject to the provisions for early termination contained in Section 23, this Agreement
shall commence as of the Effective Date and shall continue thereafter until December 31, 2020 (the “Term”). RELYPSA shall have the option to extend the Term for an additional five (5) year period upon written notice
delivered to LANXESS no later than December 31, 2019. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	20.	INTELLECTUAL PROPERTY 

 20.1 Background Intellectual Property. LANXESS shall
retain all right, title and interest in and to LANXESS Intellectual Property, and RELYPSA shall retain all right, title and interest in and to RELYPSA Intellectual Property. For purposes of clarity and avoidance of disputes, nothing in this
Agreement is intended as or shall be construed as a modification to provisions affecting intellectual property ownership and responsibilities as set forth in any other agreement between the Parties, including the MOU, Previous DSA or MSA. 

20.2 Intellectual Property Generally. Except as otherwise expressly set forth herein or in a separate written agreement between the
Parties, all information received from RELYPSA in connection with the performance of this Agreement or obtained as a result of LANXESS’s performance of this Agreement, including the information contained in the Master Batch Record or Batch
records, results, data, reports, final reports, laboratory work sheets, information about API, Bulk Intermediates or Bulk Drug, Manufacturing Records and other Manufacturing information (“RELYPSA Information”), shall be the sole and
exclusive property of RELYPSA; provided however, RELYPSA Information shall not include LANXESS Intellectual Property, except for Know-How that is included in Discoveries. RELYPSA shall be free to disclose and use RELYPSA Information for any purpose,
including the manufacture (directly or through a Third Party), use, sale, commercialization or other exploitation of the Product; provided further, that RELYPSA shall not disclose any LANXESS Intellectual Property (including Know-How) in any Batch
record, the Master Batch Record or any other Manufacturing Record to any MFA, Bulk Intermediate, API, or Bulk Drug manufacturer that is a Competitor of LANXESS, without the prior written consent of LANXESS. 

20.3 Discoveries and Improvements. LANXESS covenants to promptly disclose to RELYPSA all Intellectual Property conceived, reduced to
practice or made by LANXESS hereunder that is or uses or constitutes an improvement upon RELYPSA Information, API, Bulk Intermediate, or Bulk Drug (collectively, “Discoveries”). LANXESS hereby agrees to assign, and hereby assigns,
to RELYPSA any and all of LANXESS’s rights, title and interest in and to Discoveries. LANXESS shall assist RELYPSA, at RELYPSA’s expense, in the preparation of all documents necessary to effectuate RELYPSA’s rights in Discoveries (but
for avoidance of doubt, except as provided herein, LANXESS shall have no obligation to transfer, assign or license any LANXESS Intellectual Property (other than Know-How that is a Discovery) to RELYPSA or any Third Party). RELYPSA shall have the
sole right to file, prosecute and maintain patent applications and patents or seek and maintain other legal protection with respect to RELYPSA Information or Discoveries. LANXESS hereby undertakes and agrees to execute and have its employees and the
employees of its Affiliates execute such assignments and other documents which, in the reasonable opinion of RELYPSA, are necessary at any time to permit the filing and prosecution of applications for patents or other legal protection claiming
RELYPSA Information or Discoveries. LANXESS hereby further agrees that, at RELYPSA’s request and expense, LANXESS will assist RELYPSA in the preparation, filing and prosecution of such patent applications and patents. For the avoidance of
doubt, nothing in this Agreement shall create any obligation of RELYPSA to pay to 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
LANXESS or its or its Affiliates’ employees, agents, or consultants any compensation (other than amounts otherwise payable under this Agreement or any Firm Order) with respect to any
Discoveries, including without limitation in connection with the assignment of Discoveries, and if any compensation is to be paid to LANXESS’s or its Affiliates’ employees, agents or consultants with respect to Discoveries in accordance
with Legal Requirements or otherwise, LANXESS shall be solely responsible to pay such amounts. 
 20.4 LANXESS Intellectual Property.
In the event that LANXESS proposes to use any LANXESS Intellectual Property in the course of performing Services under this Agreement, LANXESS shall provide written notice to RELYPSA describing in reasonable detail LANXESS’s proposed use of
such LANXESS Intellectual Property the Manufacture of API, Bulk Intermediate, or Bulk Drug. If and only if RELYPSA agrees in writing to the use of such LANXESS Intellectual Property shall LANXESS incorporate such LANXESS Intellectual Property into
the Manufacture of API, Bulk Intermediate, or Bulk Drug, and LANXESS shall provide any necessary fully paid-up, royalty free, worldwide, perpetual, irrevocable licenses, with the right to sublicense, to RELYPSA so that RELYPSA can manufacture, have
manufactured (except by a Competitor of LANXESS), use, sell, offer for sale, import, export or otherwise exploit or dispose of API, Bulk Intermediate and Bulk Drug Manufactured for RELYPSA hereunder. Notwithstanding the foregoing, unless negotiated
separately, such necessary license shall not include the right for RELYPSA to sublicense any LANXESS Intellectual Property to make or have made such API, Bulk Intermediate or Bulk Drug by a Competitor of LANXESS, unless LANXESS uses any LANXESS
Intellectual Property in the course of performing Services under this Agreement without obtaining RELYPSA’s prior written approval in which event the right to sublicense to a Competitor of LANXESS shall be deemed included in the license
provided in this Section 20.4. 
 20.5 LANXESS Right to Use Discoveries. In the event that any Discoveries made by LANXESS under
this Agreement have applicability or use at LANXESS in an activity other than one that involves the development or Manufacture of a Competitive Product, LANXESS and its Affiliates are hereby authorized to make use of such Discoveries and are hereby
provided with an irrevocable, fully-paid, non-exclusive, royalty-free license without the right to sublicense restricted to those uses which do not directly relate to a Competitive Product. Subject to LANXESS’s confidentiality obligations
herein and the other terms of this Agreement, this Agreement shall not be construed to limit or prohibit LANXESS or its Affiliates from working independently or with Third Parties on the development, Manufacture and commercialization of polymer
active pharmaceutical ingredients used as ion exchange resins. 
 20.6 Limited License. RELYPSA hereby grants LANXESS, Saltigo and any
other LANXESS subcontractor approved in accordance with this Agreement a royalty-free, non-exclusive and non-transferable license to use the Discoveries, RELYPSA Intellectual Property and RELYPSA Information as necessary for LANXESS to perform the
Services under this Agreement. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	21.	INSURANCE 

 21.1 RELYPSA Insurance. RELYPSA shall procure and maintain, during the
Term and for a period [***] beyond the expiration date of Product, Commercial General Liability Insurance, including without limitation, Product Liability and Contractual Liability coverage (the “RELYPSA Insurance”). As of
the Approval Date, RELYPSA Insurance shall cover amounts not less than [***] Dollars ($[***]) combined single limit and shall be with an insurance carrier rated Best’s B+ or higher. RELYPSA promptly shall deliver a certificate of
RELYPSA Insurance evidencing such coverage. RELYPSA shall cause its insurer or insurance broker to provide LANXESS at least 30 days prior notice of any cancellation, non-renewal or modification of such RELYPSA Insurance. Any deductible and/or
self-insurance retention shall be the sole responsibility of RELYPSA. 
 21.2 LANXESS Insurance. LANXESS acknowledges and agrees that
during the Term of this Agreement it shall maintain adequate group insurance and/or a self-insurance program for liability insurance, including products liability and contractual liability insurance, to cover LANXESS’s and its Affiliates’
obligations under this Agreement. Any group insurance maintained by LANXESS shall cover amounts not less than US [***] Dollars ($[***]) combined single limit, and shall be with an insurance carrier rated Best’s B+ or higher.
LANXESS shall provide RELYPSA with evidence of such insurance and/or self-insurance program, upon RELYPSA’s request. Any deductible and/or self-insurance retention shall be the sole responsibility of LANXESS. 

 

	22.	CONFIDENTIALITY 

 22.1 Confidential Information. “Confidential
Information” means the provisions of this Agreement, RELYPSA Information, Discoveries, RELYPSA Intellectual Property and LANXESS Intellectual Property and all information disclosed by one Party to the other Party hereunder, which
information, whether in written, graphic or electronic form, is marked confidential by the disclosing Party or, if oral, is reduced to writing and marked confidential or a similar designation by the disclosing Party within thirty (30) days of
the oral disclosure, provided however, that (i) a Party’s failure to mark information as confidential or with a similar designation or to reduce such oral information to writing shall not disqualify such information from being Confidential
Information to the extent a reasonable person would in good faith consider such orally disclosed information to be proprietary and/or confidential, (ii) all discussions between members of the Steering Committee and the OST shall be deemed to be
Confidential Information. RELYPSA shall be the deemed to be the “disclosing party” under this Article 22 with respect to RELYPSA Information, Discoveries, and RELYPSA Intellectual Property, all of which are Confidential Information of
RELYPSA. The terms of this Agreement are the Confidential Information of both Parties. LANXESS Intellectual Property is the Confidential Information of LANXESS. Except to the extent expressly authorized by this Agreement or otherwise agreed in
writing by the disclosing Party, the receiving Party shall keep confidential and shall not publish or otherwise disclose or use for any purpose other than as provided for in this Agreement, any and all Confidential Information of the disclosing
Party. The receiving Party may disclose Confidential Information only to its employees, contractors and advisors and its Affiliates and their subcontractors and their respective 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
employees (collectively, with Affiliates, “Representatives”) who have a need to know such information to fulfill the receiving Party’s obligations under this Agreement and
who are bound by obligations of confidentiality and non-use at least as stringent as those contained in this Section 22. Each Party shall be responsible and primarily liable for the compliance of its Representatives with the terms of this
Agreement. Each Party shall use its reasonable best efforts to ensure that Confidential Information belonging to the other Party shall be afforded by such Party, its Affiliates and subcontractors and their respective Representatives a duty of care
that is at least as diligent as such Party affords its own Confidential Information and in all cases is at least reasonable care. 
 22.2
Exceptions. The foregoing obligations of confidentiality and non-use by the receiving Party shall not apply to Confidential Information of the disclosing Party that the receiving Party establishes by competent evidence: 

(a) was known to the receiving Party prior to the Effective Date of this Agreement as evidenced by its written records except
Confidential Information of RELYPSA which was known to LANXESS and Confidential Information of LANXESS which was known to RELYPSA as a result of work performed by LANXESS for RELYPSA pursuant to the MSA, the Previous DSA or the MOU; 

(b) is or becomes generally available to the public by use, publication or the like, through no fault of the receiving Party;

 (c) is disclosed to the receiving Party by a Third Party who has the legal right to disclose such Confidential Information
of the disclosing Party; or 
 (d) is independently developed by the receiving Party without reference to or any other use of
any Confidential Information of the receiving Party. 
 22.3 Disclosure Pursuant to Legal Requirements. Except as otherwise agreed to
herein, if the receiving Party is required by Legal Requirements (including the rules and regulations of any national stock exchange on which such Party’s securities are or may be traded) to disclose any Confidential Information of the
disclosing Party to any Regulatory Authority or other government entity of competent jurisdiction or to any Third Party, the receiving Party shall immediately notify the disclosing Party in writing of the required disclosure (if permitted by Legal
Requirements) and shall cooperate with the disclosing Party should the disclosing Party seek an opportunity to intercede to oppose, limit or condition such disclosure prior to the receiving Party making any disclosure. Whether or not a protective
order or other relief is in place, the disclosing Party shall make any such disclosure ultimately required in the most restrictive fashion consistent with such Legal Requirements. Except to the limited extent of such required disclosure, all of the
provisions of this Section 22 shall continue to apply to Confidential Information so disclosed. 
 22.4 Prior Agreements. The
Parties agree that Confidential Information (as that term is defined in the MSA or Previous DSA) provided by one Party to the other Party pursuant to either the MOU, MSA or Previous DSA is protected and continues to be protected from disclosure and
use in accordance with the terms of the applicable agreement. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 22.5 Survival. This Section 22 and the obligations set forth above in this Section
for Confidential Information that is know-how or trade secrets will survive the expiration or termination of this Agreement until such information becomes subject to one of the exceptions in Section 22.2 and with respect to all other
Confidential Information for twenty (20) years following Product Launch. 
  

	23.	TERMINATION 

 23.1 By RELYPSA Without Cause. 

(a) RELYPSA may terminate this Agreement without cause upon at least thirty (30) days advance written notice to LANXESS
for the following reasons: 
  

	 	(i)	RELYPSA finally abandons the development or manufacturing of the Product; 

  

	 	(ii)	RELYPSA does not obtain Regulatory Approval by [***]; or 

  

	 	(iii)	the Parties disagree (i) whether requested Changes in Specifications are technically feasible or (ii) about the increase or decrease in the Base Price associated with requested Changes in Specifications.

 (b) RELYPSA may terminate this Agreement without cause upon at least twenty-four (24) months advance
written notice to LANXESS, which such notice may be given at any time after October 1, 2015. In the event of such termination, the termination date shall be the date that Manufacturing under all Firm Orders pending as of the date of delivery of
RELYPSA’s notice to LANXESS is completed. 
 (c) Unless the termination is pursuant to Section 23.1(a)(ii) as a
result of [***], if RELYPSA terminates this Agreement without cause pursuant to this Section 23.1(a) within six (6) months of the scheduled completion of the Manufacture of all quantities of Bulk Drug subject to Firm Orders
outstanding as of the date of RELYPSA’s notice of termination, then RELYPSA at its option, may, by written notice, require LANXESS to complete the Manufacture of some or all of the quantity of Bulk Drug subject to such Firm Orders. In addition,
RELYPSA will pay LANXESS (i) the aggregate Base Price for all quantities of Bulk Drug to be Manufactured under such Firm Orders (whether or not such Manufacturing occurs), plus the cost of any Raw Materials ordered prior to the date of
LANXESS’s receipt of such notice that have not yet been paid for, were necessary to Manufacture the quantities of Bulk Drug subject to the Firm Orders, were not otherwise consumed in Manufacturing, and which are not cancelable without cost to
LANXESS (unless RELYPSA agrees to pay such cost), plus any applicable additional expenses actually incurred under Sections 8.4 and 9.7. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (d) Unless the termination is pursuant to Section 23.1(a)(ii) as a result
of [***], if RELYPSA terminates this Agreement without cause pursuant to Section 23.1(a) more than six (6) months prior to scheduled completion of the Manufacture of all quantities of Bulk Drug subject to Firm Orders outstanding as
of the date of RELYPSA’s notice of termination, then RELYPSA, at its option, may, by written notice, require LANXESS to complete the Manufacture of some or all of the quantity of Bulk Drug subject to such Firm Orders. In addition, RELYPSA will
pay LANXESS the Base Price for any Bulk Drug Manufactured as of the date of LANXESS’s receipt of such notice (or which are Manufactured, if RELYPSA exercises its foregoing option). RELYPSA also will pay the cost of any Raw Materials ordered
prior to the date of LANXESS’s receipt of the notice of termination but not yet paid for that were necessary to Manufacture the quantities of Bulk Drug subject to the Firm Orders, are not otherwise consumed in Manufacturing, and which are not
cancelable without cost to LANXESS (unless RELYPSA agrees to pay such cost), plus any facility idle time from the time Manufacturing ceases at Manufacturing Facility [***] in [***] up to the point of scheduled completion of
Manufacturing under such Firm Orders (where the cost of facility idle time will be calculated consistently with the measure of [***] amounts under Section 8.6 and shall not exceed [***]). LANXESS will use reasonable best efforts
to find and secure alternative use of Manufacturing Facility [***] in [***] after its receipt of such notice of termination and will refund or credit to RELYPSA any amounts received by LANXESS through such alternative use of such
Manufacturing Facility during the time originally committed under such Firm Orders up to the amount actually paid to LANXESS by RELYPSA under this Section 23.1(d) for facility idle time. 

(e) If RELYPSA terminates this Agreement without cause pursuant to Section 23.1(b) then LANXESS shall complete the
Manufacture of all Bulk Drug (including work in progress) subject to Firm Orders as of the date of receipt of RELYPSA’s written notice and RELYPSA shall be obligated to take and pay for all such Bulk Drug at the applicable Base Price that is
Manufactured in accordance with this Agreement. In the event that any quantities of Bulk Drug are scheduled for the completion of Manufacturing during a period for which no Base Price is yet established, the Base Price for the most recent Target
Year shall apply to such quantities or, if there is no immediately preceding Target Year, the average Base Price in effect for the volumes manufactured by LANXESS for the six (6) months preceding receipt of RELYPSA’s notice of termination.

 (f) In addition to any other amounts otherwise payable by RELYPSA in connection with any termination pursuant to this
Section 23.1, any outstanding Facility Investment payments pursuant to Section 5.2 will be made by RELYPSA, unless [***] or is in material breach of this Agreement at the time of such termination. 

 

	 	23.2	Termination by LANXESS Without Cause. 

 (a) LANXESS may terminate this
Agreement without cause upon at least twenty-four (24) months advance written notice to RELYPSA, which such notice may be given at any time after October 1, 2015. Prior to the effective date of such termination, RELYPSA may continue to
submit POs and LANXESS will continue to Manufacture Bulk Drug subject to Firm Orders for Manufacturing to be completed prior to the effective date of termination in accordance with this Agreement. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (b) LANXESS may terminate this Agreement at any time after the later of the
completion of Manufacturing under the Incentive PO, if issued, or expiration of the Initial Term upon at least three (3) months advance written notice to RELYPSA, if, during any continuous period of six (6) months thereafter, RELYPSA does
not issue Firm Orders for an average of at least [***] MT of Bulk Drug each month. Prior to the effective date of such termination, LANXESS shall continue to Manufacture Bulk Drug subject to Firm Orders in accordance with this Agreement. 

23.3 Termination Without Cause in Cases of [***] or in Cases of Failure to Agree on Base Price. 

(a) Unless RELYPSA has exercised its right to [***] as provided in Section 8.6, in the event of any delays in a
Party’s performance of its material obligations hereunder by more than [***] months (including RELYPSA’s failure to obtain Regulatory Approval by [***]) and provided the reasons for such delays are not caused in all material
respects by the other Party, then the non-delaying Party may terminate this Agreement with immediate effect upon written notice to the delaying Party. 

(b) If the Parties cannot agree on a Base Price applicable during a Target Year in accordance with Section 9.4 by
[***] of the year in which the negotiations occur, then either Party may terminate this Agreement upon written notice given to the other Party no later than [***] of that year. In the event that a Party provides such written notice,
then LANXESS shall complete the Manufacture of all Bulk Drug (including work in progress) subject to Firm Orders as of the date of its receipt or delivery of such written notice, as applicable, and RELYPSA shall be obligated to take and pay for all
such Bulk Drug that is Manufactured in accordance with this Agreement at the applicable Base Price. Termination of this Agreement shall be effective as of the completion of such Manufacturing. The Base Price for any quantities of Bulk Drug scheduled
for the completion of Manufacturing after the lapse of the latest Target Year for which a Base Price has been agreed to shall be the Base Price for most recent Target Year or, if there is no agreed upon Base Price for a Target Year, the average Base
Price in effect for the volumes manufactured by LANXESS for the [***] months preceding receipt of RELYPSA’s notice of termination. 

23.4 Material Breach. A Party may, without prejudice to its other rights and remedies, terminate this Agreement immediately upon written
notice to the other Party, if such other Party (a) is in breach of any of its material obligations under this Agreement and such other Party has failed to remedy the breach within thirty (30) days for material payment defaults and ninety
(90) days for all other defaults in each case after receiving written notice from the non-breaching Party giving full particulars of the breach and requiring a remedy; or (b) becomes unable to pay its debts or becomes insolvent, or
proceedings are commenced in any court of competent jurisdiction by or against such other Party seeking the liquidation, administration, winding-up, bankruptcy or dissolution of such other Party (otherwise
than for the purposes of a solvent reorganization), or an 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
administrative or other receiver, manager, trustee, liquidator, administrator or similar officer is appointed over all or any substantial part of the assets of such other Party, or such other
Party enters into or proposes any composition or arrangement with its creditors generally, or anything analogous to any of these events occurs in any applicable jurisdiction. 

23.5 Consequences of Termination/Expiration. In the event of expiration or earlier termination of this Agreement by a Party, whether for
breach or without cause, the following will apply as of the effective date of such termination: 
 (a) LANXESS will transfer,
or will cause its Affiliates to transfer, to RELYPSA, an Affiliate of RELYPSA or a Third Party designated by RELYPSA, all Manufacturing Transfer Information, Manufacturing Records, RELYPSA Information, Discoveries and RELYPSA Intellectual Property;
provided, however, that RELYPSA Information, Discoveries and RELYPSA Intellectual Property shall not include any LANXESS Intellectual Property, and further provided that, except for termination by LANXESS under Section 23.2 or 23.3, RELYPSA
shall [***], without the written consent of LANXESS. If this Agreement is terminated by RELYPSA under Section 23.1 or 23.3 or by LANXESS under Section 23.2(b), 23.3 or 23.4, RELYPSA will reimburse LANXESS for the reasonable time
spent and reasonable out-of-pocket costs incurred by LANXESS and its Affiliates in connection with such transfer hereunder. Otherwise, LANXESS will bear such costs. If RELYPSA is responsible for such costs, LANXESS will submit invoices to RELYPSA
showing an itemized breakdown of such out-of-pocket costs and the time spent by LANXESS personnel performing such activities during any month, and RELYPSA will pay each such invoice no later than sixty (60) days after receipt of such invoice.

 (b) If RELYPSA terminates this Agreement under Section 23.1 or 23.3, or LANXESS terminates this Agreement under
Section 23.2(b), 23.3 or 23.4, RELYPSA will purchase or reimburse LANXESS for all Key Raw Materials purchased by LANXESS specifically for the Manufacture of Bulk Drug that are not used in the Manufacture of Bulk Drug or useful for the
manufacture of other products currently manufactured by LANXESS and are held by LANXESS to fulfill Firm Orders , provided that such Key Raw Materials have a remaining shelf life of at least [***] and cannot be returned to the supplier without
cost to LANXESS (unless RELYPSA agrees to pay such cost). If LANXESS terminates this Agreement under Section 23.2(a) RELYPSA will have an option to purchase Key Raw Materials; which option must be exercised in writing no later than thirty
(30) days of the effective date of termination or it will lapse, unless otherwise agreed by LANXESS. Except for any Key Raw Materials that LANXESS will use to complete the Manufacturing of Bulk Drug, LANXESS will deliver any Key Raw Materials
purchased by RELYPSA hereunder to a location designated by RELYPSA (or if RELYPSA fails to designate such location within thirty (30) days of the effective termination date, to a location reasonably determined by LANXESS), and upon shipment
LANXESS will submit invoices to RELYPSA for [***] to obtain such Key Raw Materials, and RELYPSA will pay each such invoice no later than thirty (30) days after receipt of such invoice. If LANXESS terminates this Agreement pursuant to
Section 23.2(a) or 23.3 or RELYPSA terminates this Agreement under Section 23.4, [***] Otherwise, [***]. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 (c) LANXESS will promptly deliver to RELYPSA’s designated location all Bulk
Drug Manufactured and Released that RELYPSA is obligated under this Section 23 to take for the applicable Base Price, and all Intermediates in its possession (with LANXESS converting all work-in-process to the next stable Intermediate (or Bulk
Drug, if applicable)) in the process at a price to be determined by good faith negotiations of the Parties. In the case of conversion to Bulk Drug, LANXESS shall Release such Bulk Drug, and upon acceptance by RELYPSA in accordance with
Section 13, RELYPSA shall pay the Base Price therefor. If RELYPSA terminates this Agreement under Sections 23.3 or 23.4 or LANXESS terminates this Agreement under Sections 23.2(a), 23.3 or 23.4, [***]. Otherwise, [***]. 

(d) Each Party shall, upon the request of the other Party return to such Party, or destroy and certify in writing to the
destruction of, all of such Party’s Confidential Information in its possession or under its control; provided, however, that a Party may retain one copy of the other Party’s Confidential Information as required for regulatory purposes
and/or to demonstrate compliance with the terms of this Agreement. 
 23.6 Effect on Firm Orders. Except as otherwise expressly
provided in this Section 23, as of the effective date of termination of this Agreement, RELYPSA shall have no further obligations to LANXESS and LANXESS shall have no further obligations to RELYPSA under any Firm Order. 

23.7 Accrued Rights; Continuing Obligations. Termination of this Agreement will not affect any accrued rights of either Party. To the
extent either Party’s obligations under this Article 23 are not fully performed as of the effective date of termination of this Agreement, the terms of this Agreement applicable to such obligations shall continue in effect until such
obligations are performed in full. 
 23.8 Survival of Provisions. The following Sections of this Agreement shall survive expiration
or termination hereof for the period stated in such Section or, if no period is stated, for a period of five (5) years: Articles 1 (Definitions), 13 (Acceptance), 15 (Limitation of Liability), 18 (Product Recalls), 20 (Intellectual Property),
22 (Confidentiality), 23 (Termination), 24 (indemnification), 25 (Survival), 26 (Exclusivity), 29 (Notices), 30 (Governing Law; Arbitration; and Jurisdiction), 31 (Dispute Resolution), and Sections 3.5 (Records), 5.3 (Reimbursement to Relypsa), 10.4
(Stability Studies), 29.5 (Severability), 29.6 (English Language), 29.10 (Third Party Beneficiaries), and 29.11 (Preference; Construction). 
  

	24.	INDEMNIFICATION 

 24.1 RELYPSA Indemnification. RELYPSA shall indemnify, defend
and hold harmless, LANXESS, its Affiliates, and its and their directors, officers, employees and agents, and their permitted successors and assigns (collectively, “LANXESS Indemnitees”), from and against any and all liability,
damage, loss, cost (including reasonable attorneys’ fees and fees of experts and consultants involved in any investigation or defense) and expense (collectively, “Losses”) resulting from claims of any kind and character by a
Third Party (including shareholders, directors, officers, 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
employees or agents of RELYPSA) to the extent arising from (i) the Bulk Drug supplied to and accepted by or on behalf of RELYPSA pursuant to this Agreement; (ii) claims that Bulk
Intermediate, Bulk Drug, the API, RELYPSA Intellectual Property or any other product, process or service owned or controlled by RELYPSA misappropriates or infringes the proprietary rights of any Third Party (except to the extent such claims are
attributable to the use of LANXESS Intellectual Property); or (iii) any Product marketed, sold or distributed by or on behalf of RELYPSA or its Affiliates, distributors and licensees. Notwithstanding the foregoing, no LANXESS Indemnitee shall
be entitled to indemnification under this Section 24.1 for any Losses to the extent arising from (a) the negligence or willful misconduct of any LANXESS Indemnitee or any Person under the control of LANXESS or its Affiliates; (b) any
accident or property damage at the Manufacturing Facilities not caused by RELYPSA or its Representatives; (c) the breach by any LANXESS Indemnitee or any Person under the control of LANXESS or its Affiliates of any Legal Requirement or
LANXESS’s breach of any of the terms of this Agreement including any of LANXESS’s representations, warranties or covenants hereunder; or (d) any claim for misappropriation or infringement to the extent arising from the use of LANXESS
Intellectual Property. 
 24.2 LANXESS Indemnification. LANXESS shall indemnify, defend and hold harmless, RELYPSA, its Affiliates,
and its and their directors, officers, employees and agents, and their permitted successors and assigns (collectively, “RELYPSA Indemnitees”) from and against any and all Losses resulting from claims of any kind and character by a
Third Party (including shareholders, directors, officers, employees or agents of LANXESS) to the extent arising from (i) the negligence or willful misconduct of any LANXESS Indemnitee or any Person under the control of LANXESS; (ii) any
accident or property damage at the Manufacturing Facilities not caused by RELYPSA or its Representatives; (iii) the breach by any LANXESS Indemnitee or any Person under the control of LANXESS of any Legal Requirement; or
(iv) LANXESS’s breach of any of the terms of this Agreement, including any of LANXESS’s representations, warranties or covenants hereunder; or (v) any claim for misappropriation or infringement to the extent arising from the use
of LANXESS Intellectual Property; [***]. Notwithstanding the foregoing, no RELYPSA Indemnitee shall be entitled to indemnification under this Section 24.2 for any claim to the extent arising from (a) the negligence or willful
misconduct of any RELYPSA Indemnitee or any Person under the control of RELYPSA or its Affiliates; (b) the breach by any RELYPSA Indemnitee or any Person under the control of RELYPSA or its Affiliates of any Legal Requirement or RELYPSA’s
breach of any of the terms of this Agreement, including any of RELYPSA’s representations, warranties or covenants hereunder; or (c) any claim for misappropriation or infringement to the extent arising from the API or any product, process
or service owned or controlled by RELYPSA. 
 24.3 Indemnification Procedures. A Party (the “Indemnitee”) which
intends to claim indemnification under this Section 24 shall promptly notify the other Party (the “Indemnitor”) in writing of any action, claim or other matter in respect of which the Indemnitee or any of its Affiliates, and
its and their directors, officers, employees or agents intend to claim such indemnification; provided however, that the failure to provide such notice within a reasonable period of time shall not relieve the Indemnitor of any of its obligations
hereunder except to the extent the Indemnitor is prejudiced by such 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
failure. The Indemnitee and its Affiliates, and its and their directors, officers or employees and agents shall cooperate fully with the Indemnitor and its legal representatives in the
investigation, negotiation, compromise, settlement and defense of any action, claim or other matter covered by this indemnification, at the Indemnitor’s sole cost and expense. The Indemnitor shall be in charge of and control of any such
investigation, negotiation, compromise, settlement and defense and shall have the right to select counsel with respect thereto. In no event shall the Indemnitor or Indemnitee compromise or settle any such matter without the prior written consent of
the other Party, which shall not be bound by any such compromise or settlement absent its prior written consent, which shall not be unreasonably withheld, conditioned or delayed. The Indemnitee shall have the right, but not the obligation, to be
represented by counsel of its own selection and at its own cost and expense. 
 25. SURVIVAL. The provisions of this Article 24 shall survive the
expiration or earlier termination of this Agreement. 
 26. FORCE MAJEURE. Neither Party shall be liable for its failure to perform hereunder as a
result of any event of force majeure (“Force Majeure”) beyond the Party’s reasonable control including, but not limited to, acts of God, fire, flood, wars, terrorism, sabotage, civil strife or demonstrations, accidents, strikes
and other labor disputes (other than as a result of a lockout), shortages, government actions, or regulations, or transportation failure (other than due to error of any employee of such Party). If either Party’s performance is prevented in
whole or part by any such event, such Party shall be excused from any of its obligations hereunder during the period of delay of performance resulting from such event. In the event either Party is delayed or rendered unable to perform under this
Agreement due to Force Majeure, the affected Party shall give prompt written notice of the same and its expected duration to the other Party, and upon the giving of such notice the obligations of the Party giving the notice will be suspended during
the continuance of the Force Majeure; provided, however, such Party shall take commercially reasonable steps to remedy the Force Majeure with all reasonable dispatch. If a Party cannot perform hereunder for a continuous period of 90 days or longer
due to a Force Majeure event, the other Party may terminate this Agreement without cause upon written notice. 
 27. EXCLUSIVITY. So long as
LANXESS is Manufacturing Bulk Drug under this Agreement and for [***], LANXESS will not make a Competitive Product for any Third Party without the prior written consent of RELYPSA. 

28. NOTICES. Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed given if delivered in person, or
sent by a generally recognized pre-paid international courier (e.g., FedEx), fax (with receipt verified) or comparable means of communication (excluding email) addressed as follows: 

 

	 	(a)	if to RELYPSA 

 Relypsa, Inc. 

Attention: General Counsel 
 700
Saginaw Drive, 
 Redwood City, California 94063 

Phone: +1 650 421 9500 
 Fax: +1
650 421 9700 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

	 	(b)	if to LANXESS 

 LANXESS Corporation 

[***] 
 With a copy to:

 SALTIGO GmbH 
 [***]

 or to other such address or addresses as may be specified from time to time in a written notice. Any notice, request, approval or other document shall be
deemed to have been delivered: 
 (c) if delivered in person or by courier, at the time of receipt, or 

(d) if sent by fax, two (2) hours after the time of dispatch, if dispatched before 3:00 p.m. (local time at the place of
destination) on a business day, and in any other case at 10:00 a.m. (local time at the place of destination) on the next business day after the date of dispatch, unless the sending Party is notified that the fax number is invalid or the transmission
was otherwise undelivered. 
  

	29.	MISCELLANEOUS PROVISIONS 

 29.1 Assignment; Affiliates; Parties Bound. Neither
Party shall have the right to assign any or all of its rights or obligations under this Agreement without the other Party’s prior written consent, which consent shall not unreasonably be withheld, delayed or conditioned. Notwithstanding the
foregoing, prior written consent shall not be required (i) in case of an assignment of rights or obligations to an Affiliate of the assignor and provided that the assignor procures that any such Affiliate assigns such rights back to the
assignor immediately before ceasing to be an Affiliate of the assignor, and the assigning Party shall be responsible and primarily liable for the performance of such Affiliate under this Agreement, or (ii) in connection with a merger,
consolidation, or a sale of all or substantially all of a Party’s assets or relevant business to which this Agreement relates to a Third Party unless such merger, consolidation or sale is with a Competitor of the other Party. Notwithstanding
the foregoing, LANXESS shall have the right to utilize its Affiliate, Saltigo, in the performance of this Agreement only so long as such entity remains an Affiliate, provided however, LANXESS shall remain responsible and primarily liable for the
performance of Saltigo, any other LANXESS Affiliate and any subcontractor of Saltigo or other LANXESS Affiliate under this Agreement. This Agreement is binding upon, and will inure to the benefit of, the Parties and their respective successors and
permitted assigns. 
 29.2 Relationship. The Parties shall be independent contractors, and nothing in this Agreement shall create, or
be deemed to create, a partnership, agency or joint venture between the Parties, and, except as expressly set forth herein, neither Party shall have any right by virtue of this Agreement to bind the other Party in any manner whatsoever. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 29.3 Public Announcements. Except to the extent required by Legal Requirements or the
rules of any national stock exchange to which a Party is subject, neither Party will use the name of the other Party or any of its personnel in any public announcements, publicity, promotional literature or advertising without the prior written
approval of the other Party. 
 29.4 Waivers. The failure of either Party at any time to enforce any of the terms, provisions
or conditions of this Agreement or to exercise any right under this Agreement shall not constitute a waiver of the same or affect that Party’s right thereafter to enforce the same. To be effective a waiver must be expressly given in writing by
the Party against whom such waiver is asserted. 
 29.5 Severability. If any provision of this Agreement is held to be illegal,
invalid or unenforceable under present or future laws or court decisions effective while this Agreement remains in effect or becoming effective with respect to a provision which survives the expiration or earlier termination of this Agreement, the
legality, validity and enforceability of the remaining provisions shall not be affected thereby, and in lieu of each such illegal, invalid or unenforceable provision, there shall be added automatically as a part of this Agreement a provision that is
legal, valid and enforceable, and as similar in terms to such illegal, invalid or unenforceable provision as may be possible while giving effect to the benefits and burdens for which the Parties have bargained hereunder. 

29.6 English Language. The English language version of this Agreement shall be controlling, notwithstanding any translation thereof into
another language. 
 29.7 Counterparts. This Agreement may be executed in separate counterparts, and by facsimile or
electronically, each of which when so executed and delivered shall be a legally-binding original and all such counterparts shall together constitute one and the same instrument, binding on both Parties, notwithstanding that each of the Parties may
have signed different counterparts. The Parties agree that delivery of an executed counterpart signature hereof by facsimile transmission, by electronic mail in “portable document format” (“.pdf”) form, or by any other electronic
means intended to preserve the original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing the original signature. 

29.8 Subcontracting. If LANXESS determines that proper Manufacturing of MFA, Bulk Intermediate and/or Bulk Drug requires the retention
of one or more subcontractors or consultants, including Affiliates, LANXESS will obtain the written approval of RELYPSA and of any applicable Regulatory Authority (if required) before using any Affiliates, subcontractors or consultants. LANXESS
shall cause its Affiliates, subcontractors and consultants to comply with the terms of this Agreement, and LANXESS will be liable for and fully responsible to RELYPSA for any portion of the Services performed by any Affiliate, subcontractor or
consultant to the same extent as if such portion of the Services was performed directly by LANXESS. All compensation paid or payable to such Affiliates, subcontractors or consultants shall be borne solely by LANXESS. For the avoidance of doubt,
Saltigo is an approved LANXESS subcontractor as are those entities identified in the Quality Agreement. 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 29.9 Entirety; MOU; Amendments. This Agreement, including any Appendices attached hereto
and referenced herein, together with the Quality Agreement, constitutes the full understanding of the Parties and is the final and complete expression of their agreement with respect to the specific subject matter hereof, and supersedes any previous
or contemporaneous oral or written agreements regarding such subject matter. In particular and without limitation of the foregoing, as of the Effective Date, the MOU is hereby terminated and of no further force or effect, and the MFA, Bulk
Intermediates and Bulk Drug Manufactured and Services and other obligations performed by the Parties under the MOU shall be deemed to have been Manufactured and performed under this Agreement and shall be subject to all of the terms of this
Agreement. Nothing herein shall be construed as a termination or modification of the Previous DSA or MSA. No modification or alteration of any of the terms of this Agreement shall be of any effect unless in writing signed by both Parties. 

29.10 No Third Party Beneficiaries. This Agreement is entered into solely for the benefit of the Parties hereto, and the provisions of
this Agreement shall be for the sole and exclusive benefit of such Parties. Nothing herein contained shall be deemed to create any third-party beneficiaries or confer any benefit or rights on or to any Person not a party hereto, and no third-party
shall be entitled to enforce any provisions hereof or exercise any rights hereunder. 
 29.11 Preference; Construction. Unless
otherwise expressly provided to the contrary in any Appendix to this Agreement, in the event of a conflict between the main body of this Agreement and any Appendix hereto, the terms of the main body of this Agreement shall control. Unless otherwise
specifically provided to the contrary in the Quality Agreement, in the event of a conflict between this Agreement and the Quality Agreement, the terms of the Quality Agreement shall control. This Agreement shall be construed within its fair meaning,
with no inference drawn against either Party as the drafting Party. 
 30. GOVERNING LAW; ARBITRATION; AND JURISDICTION. This Agreement is governed
by and shall be construed in accordance with the laws of the State of Delaware, U.S.A., without regard to the conflict of law principles of that or any other jurisdiction and without regard to the United Nations Convention on Contracts for the
International Sale of Goods. Subject to the last sentence of this paragraph, and Section 31 below, and excluding any claim, dispute or controversy arising in connection with Article 20 (Intellectual Property), Article 22 (Confidentiality),
Article 24 (Indemnification) or Sections 9.4 (Price Negotiations) or 13.4 (Dispute Resolution), any dispute, controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be determined by binding arbitration
administered by the international division of the American Arbitration Association, the International Centre for Dispute Resolution, in accordance with its International Arbitration Rules. The number of arbitrators shall be three independent persons
with reasonable experience in the pharmaceutical and chemical manufacturing business, at least one of whom shall be a lawyer admitted to practice in a state in the United States. The place of arbitration shall be [***]. The  

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 
arbitration shall be conducted in English. Each Party shall bear its own attorneys’ fees and associated costs and expenses. Any award rendered by the arbitrators shall be in writing, shall
be the final binding disposition on the merits, and shall not be appealable to any court in any jurisdiction. Punitive damages may not be awarded. Judgment on an award rendered may be entered in any court of competent jurisdiction, or application
may be made to any such court for a judicial acceptance of the award and an order of enforcement, as appropriate. Any award may be recognized and enforced in accordance with the United Nations Convention on the Recognition and Enforcement of Foreign
Arbitral Awards. The parties waive any right they may enjoy under the law of any nation to apply to the courts of such nation for relief from the provisions of this Section 30 or from any decision of the arbitrators. In the event a court of
competent jurisdiction determines that this Agreement is invalid or unenforceable for any reason, this paragraph shall not be affected thereby and shall be given full effect without regard to the invalidity or unenforceability of the remainder of
this Agreement. Notwithstanding anything herein seemingly to the contrary, either Party may seek judicial injunctive or other equitable relief at any time from a court of competent jurisdiction to prevent or limit damage or to establish its rights
to that Party’s Confidential Information or Intellectual Property. 
 31. DISPUTE RESOLUTION. The Parties agree to attempt to settle any
dispute, controversy or difference that may arise between them out of, in relation to, or in connection with this Agreement, including the breach thereof, by good-faith discussions. Any such dispute which cannot be settled by mutual understanding of
the Parties within [***] of the date a Party notifies the other Party in writing of the existence of the dispute, controversy or difference shall be submitted for resolution to the Chief Executive Officer of RELYPSA and the Chief Executive
Officer of Saltigo who shall promptly meet and endeavor to reach resolution through good-faith negotiations. In the event such Chief Executive Officers cannot reach resolution within the longer of [***], then, either Party may commence
arbitration pursuant to Section 30 (for disputes subject to that Section) or an action or proceeding. Notwithstanding anything herein seemingly to the contrary, either Party may seek injunctive or other equitable relief at any time from a court
of competent jurisdiction to prevent or limit damage or to establish its rights to that Party’s Confidential Information or Intellectual Property. 

[Signatures appear on following page] 

  
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	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 [SIGNATURE PAGE TO MANUFACTURING AND SUPPLY AGREEMENT] 

In Witness whereof, the Parties have caused this Agreement to be executed by their duly authorized representatives below, effective as of the Effective
Date set forth above. 
  

									
	RELYPSA, INC.:	 		 	LANXESS CORPORATION:
					
	By:	 	 /s/ John A. Orwin
	 		 	By:	 	 /s/ Flemming B. Bjoernslev

		 	John A. Orwin,	 		 		 	Flemming B. Bjoernslev,
		 	President and CEO	 		 		 	President and CEO

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 5,1 – Facility Investments at LXS [***] site – [***] 

All investments completed by LXS during 2013 
 [***] USD
Investment payments due from Relypsa have been invoiced and received by LXS 
  

					
	Items for [***]	  	 Expected Lead time

Months
	 	Comments
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
			
	Items for [***]	  	Months	 	Comments
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 6,1 – Approval Activities 

Original document at point of signing MOU 27th November 2012 

This document is updated on a regular basis linked to completion of defined activities and is stored on the LXS / Relypsa Share Point for 24 hour access at
all times. 
 [***] 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 

 
 Purchase Order #5738 
  

					
	 Vendor:
  

Lanxess Corporation
  

111 RIDC Park West Drive
 Pittsburg, PA 15275-1112

Attn: [***]
 USA

Tel: [***]
 contact: [***]
	 	 Ship To:
  

Relypsa, Inc.
  

Location to be specified at time of delivery.
 contact:
[***]
 Email: [***]
 Tel: [***]

Fax:
 Ship To:
	 	 Bill To:
  

Relypsa, Inc.
  

700 Saginaw Drive
 Redwood City, CA 94063

USA
 Attn: Accounts Payable

Tel: [***]
 Fax: [***]

Email: [***]
 Web: www.relypsa.com

	
	 Order Date: 1/15/2013            Carrier:
[***]                    FOB: [***]            Terms: See
Note
 Agent: [***], tel: [***]

																					
	Item	 	Quote	 	ETA	 	 Date

Due
	 	Product
Number	 	Item
Description	 	Qty	 	U of M	 	Tax	 	Price	 	Ext
	1.	 	MOU	 		 	Per MOU	 	[***]	 	[***]	 	[***]	 	[***]	 		 	$[***]	 	$[***]
	2.	 	MOU	 		 	Per MOU	 	[***]	 	[***]	 	[***]	 	[***]	 		 	  [***]	 	

 Description: 
  

											
	 Detail 1:
	  	Price includes all analytical testing to achieve full release of the product.	  	 	Subtotal:	  	  	$	[	***] 
				
	 Detail 2:
	  	Product must meet the draft NDA/Commercial Specifications as specified in the MOU.	  				  			
				
	 Detail 3:
	  	All product must be manufactured in accordance with the Commercial Quality Agreement as described in Section 12 of the MOU.	  	 	Tax:	  	  	$	[	***] 
				
	 Detail 4:
	  	Duties and transportation charges will be paid ‘At Cost’ with no mark up and with appropriate documentation to support such cost. Vendor to use reasonable efforts to minimize this charge. Harmonized Tariff Code (HTC):
3914.00.6000	  	 	Misc.:	  	  	$	[	***] 
				
	 Detail 5:
	  	Delivery location is anticipated to be [***], to be finalized at time of shipment.	  	 	Freight:	  	  	$	[	***] 
				
	 Detail 6:
	  	All other provisions of the MOU shall be in force.	  				  			
	  
 Terms:

 
 As specified in the Memorandum of Understanding (attached), dated November 27, 2012;
specifically in the pricing concepts of Section 5c, Appendices 2 and 6 for the milestone requirements and payment schedule.
	  	 	Total:	  	  	$	[	***] 

 PLEASE CONFIRM ALL PURCHASE ORDERS VIA FAX OR EMAIL TO EXPEDITE PAYMENT 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 

 
 ACCEPTANCE: 
 This
order becomes the exclusive agreement between the parties for the supplies subject to the terms and conditions hereof, when accepted by acknowledgement or the commencement of performance by seller. Additional or different terms proposed by Seller
shall not be applicable unless accepted in writing by an Authorized Agent. No change in, modification of, or revision to this order shall be valid unless confirmed in writing by an authorized Agent. 

TAXES: 
 Unless otherwise provided in this order, all
invoices will include all applicable federal, state, and local taxes in effect on the date of acceptance of this order. 
 Point Purchasing
4.3.10 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 8,2 Initial PO Delivery Schedule 

LXS Production Schedule for manufacture of the Initial [***]MT API in [***] 

Dates refer to API quantities manufactured, released and ready for shipment from LANXESS’s (Saltigo) [***] site. 

LXS will arrange shipment of material to required destinations immediately after release. Delivery dates can only be modified when mutually agreed. 

Shipment to be in [***] unless otherwise requested by Relypsa 

Qualification of 3rd party MFA suppliers to commence ca [***] onwards[***] 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 8,7 Initial PO Payment Schedule 

Summary of invoice and payment schedule January 2014 onwards[***] 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 9,1 Incentive PO Delivery Dates. 

LXS Production Schedule for manufacture of the Initial [***]MT API in [***]. 

Dates refer to API quantities manufactured, released and ready for shipment from LANXESS’s (Saltigo) [***] site. 

LXS will arrange shipment of material to required destinations immediately after release. Delivery dates can only be modified when mutually agreed. 

Shipment to be in [***] unless otherwise requested by Relypsa. 

[***] 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 9.2 – Strategic Forecast 

Relypsa strategic forecast of volumes of API for first five years after launch: 
  

											
	 	  	Year 1	  	Year 2	 	Year 3	  	Year 4	  	Year 5
	 Forecasted

[***] demand [MT]
	  	[***]	  	[***]	 	[***]	  	[***]	  	[***]

 Notes: 
 Quantities expressed on
a [***] basis. 
 Manufacturing and other lead times not considered. 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 9,5b – [***] Price Grid 

The Base Price excluding MFA costs for Target Year [***] for Bulk Drug Manufactured in such year will be the price corresponding below to the aggregate
volume actually ordered by RELYPSA for such year: 
 Year [***] Volume Base Pricing Concept 

 

			
	Volumes (MT)	  	USD/kg API
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]

 Note: These prices are subject to adjustment for [***] across the period
[***]. RELYPSA will purchase at least a minimum volume of [***]MT in [***] according to the pricing in the above table 
 In the event
that RELYPSA is [***] to place one or more POs for at least [***] MT of Bulk Drug to be Manufactured, delivered and invoiced by LANXESS in calendar year [***], then the following provisions apply: 

 

	 	1.	In the event that RELYPSA’s total [***] orders are for a total of [***] MT of Bulk Drug: 

RELYPSA may, at its election, submit one or more POs for a total of [***] MT of Bulk Drug at the Base Price for calendar year
[***]; and 
 LANXESS will Manufacture, deliver and invoice RELYPSA for a total of [***]MT of Bulk Drug in calendar year
[***]; and 
 LANXESS will Manufacture, deliver and invoice RELYPSA for the remaining [***] MT of Bulk Drug in [***],
and such volume shall not apply against the minimum purchase commitment applicable under the terms of this Agreement in Target Year [***]. 
  

	 	2.	In the event that RELYPSA has not exercised Option 1 above, then RELYPSA will issue one or more POs to LANXESS for volumes totaling between [***] MT and [***]MT of Bulk Drug in accordance with the terms of
this Agreement. 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 9.8 Foreign Exchange Rate Adjustment 

 

	 	1.	Saltigo will issue all invoices to Relypsa in USD based on an agreed upon exchange rate, initially $[***]USD / € (the “Established Exchange Rate”). 

 

	 	2.	Relypsa will pay all invoices at the USD amount recorded in the invoice from LANXESS. 

  

	 	3.	Variances between the Established Exchange Rate and the actual exchange rate at time of payment by Relypsa (“Exchange Rate Variances”) will be recorded using a mutually agreed upon data source (Onada.com).

  

	 	4.	Any Exchange Rate Variances outside the Exchange Rate Tolerance (as defined in Section 9,8), will be agreed upon by both parties and documented on a quarterly basis. The portion of any payment made by Relypsa
resulting from an actual exchange rate at time of payment being outside the Exchange Rate Tolerance will be shared by the parties on a 50:50 basis. 

For clarity, payments by Relypsa for which the actual exchange rate at time of payment is within the Exchange Rate Tolerance (initially,
$[***] to $[***] USD / €) will not result in any reconciliation payments accrued by either party. 
 For example, with an
exchange rate of $[***] USD / € on a $[***]M USD invoice, the currency fluctuation is +$[***] USD means that $[***] USD of this fluctuation is borne by each party. 

 

	 	5.	Financial reconciliations will be made on an annual basis no later than November 30th such that any reconciliation payment invoiced for payment under normal
terms by either party will be paid on or before December 31st of that calendar year. 

[***] 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 11,3 [***] Delivery Schedule 2013 and 2014 Initial PO 

Confirmed delivery dates and actual invoices for [***] deliveries 2013Expected delivery dates 2014 to be updated on a monthly basis throughout
2014Invoicing by LXS upon [***] of [***] at LXS [***] site in [***] [***] 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 11,4(a) MFA Delivery Schedule Initial PO 

The table below highlights the tentative delivery dates and approximate pricing for MFA to be supplied to LXS by multiple third party MFA suppliers. 

Table to be updated on a monthly basis by mutual agreement throughout [***] 

Invoicing by LXS upon [***] of MFA at LXS [***] site in [***] 
  

													
	Delivery Date to LXS	  	Volume	 	 	 Price / $ /kg

(estimate)
	 	 	Total USD K	 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 
	 [***]
	  	 	[	***] 	 	 	[	***] 	 	 	[	***] 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 Appendix 11.4 (c) – Third Party MFA Suppliers
9th January 2014 
 Relypsa has agreements in place with the following companies: 

 

	 	•	 	[***] 

 Lanxess has agreements in place with the following companies: 

 

	 	•	 	[***] 

  

	[***]	Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.EX-10.9(a)

 Exhibit 10.9(a) 

RELYPSA, INC. 
 2013
EQUITY INCENTIVE AWARD PLAN 
 ARTICLE 1. 

PURPOSE 
 The purpose of
the Relypsa, Inc. 2013 Equity Incentive Award Plan (as it may be amended from time to time, the “Plan”) is to promote the success and enhance the value of Relypsa, Inc. (the “Company”) by linking the individual
interests of the members of the Board, Employees, and Consultants to those of the Company’s stockholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to the Company’s
stockholders. The Plan is further intended to provide flexibility to the Company in its ability to motivate, attract, and retain the services of members of the Board, Employees, and Consultants upon whose judgment, interest, and special effort the
successful conduct of the Company’s operation is largely dependent. 
 ARTICLE 2. 

DEFINITIONS AND CONSTRUCTION 

Wherever the following terms are used in the Plan they shall have the meanings specified below, unless the context clearly indicates
otherwise. The singular pronoun shall include the plural where the context so indicates. 
 2.1
“Administrator” shall mean the entity that conducts the general administration of the Plan as provided in Article 13 hereof. With reference to the duties of the Administrator under the Plan which have been delegated to one or more
persons pursuant to Section 13.6 hereof, or as to which the Board has assumed, the term “Administrator” shall refer to such person(s) unless the Committee or the Board has revoked such delegation or the Board has terminated the
assumption of such duties. 
 2.2 “Affiliate” shall mean any Parent or Subsidiary. 

2.3 “Applicable Accounting Standards” shall mean Generally Accepted Accounting Principles in the United
States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time. 

2.4 “Applicable Law” shall mean any applicable law, including without limitation, (i) provisions of the
Code, the Securities Act, the Exchange Act and any rules or regulations thereunder; (ii) corporate, securities, tax or other laws, statutes, rules, requirements or regulations, whether federal, state, local or foreign; and (iii) rules of
any securities exchange or automated quotation system on which the Shares are listed, quoted or traded. 
 2.5
“Award” shall mean an Option, a Restricted Stock award, a Restricted Stock Unit award, a Performance Award, a Dividend Equivalents award, a Deferred Stock award, a Deferred Stock Unit award, a Stock Payment award or a Stock
Appreciation Right, which may be awarded or granted under the Plan (collectively, “Awards”). 

 2.6 “Award Agreement” shall mean any written notice, agreement,
terms and conditions, contract or other instrument or document evidencing an Award, including through electronic medium, which shall contain such terms and conditions with respect to an Award as the Administrator shall determine consistent with the
Plan. 
 2.7 “Award Limit” shall mean with respect to Awards that shall be payable in Shares or in cash, as
the case may be, the respective limit set forth in Section 3.3 hereof. 
 2.8 “Board” shall mean the
Board of Directors of the Company. 
 2.9 “Cause” shall mean, unless such term or an equivalent term is
otherwise defined by the applicable Award Agreement or other written agreement between a Participant and the Company applicable to an Award, the occurrence of any of the following events: (i) such Participant’s commission of any felony or
any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof; (ii) such Participant’s attempted commission of, or participation in, a fraud or act of dishonesty against the Company;
(iii) such Participant’s intentional, material violation of any contract or agreement between the Participant and the Company or of any statutory duty owed to the Company; (iv) such Participant’s unauthorized use or disclosure of
the Company’s confidential information or trade secrets; or (v) such Participant’s gross misconduct. The determination that a Participant’s Termination of Service is either for Cause or without Cause shall be made by the Company
in its sole discretion. Any determination by the Company that a Participant experienced a Termination of Service by reason of dismissal without Cause for the purposes of outstanding Awards held by such Participant shall have no effect upon any
determination of the rights or obligations of the Company or such Participant for any other purpose. 
 2.10 “Change
in Control” shall mean the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events: 

(a) any natural person, entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) becomes the owner,
directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar
transaction. Notwithstanding the foregoing, a Change in Control shall not be deemed to occur (A) on account of the acquisition of securities of the Company by an investor, any affiliate thereof or any other natural person, entity or
“group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) from the Company in a transaction or series of related transactions the primary purpose of which is to obtain financing for the Company through the issuance of
equity securities or (B) solely because the level of ownership held by any natural person, entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) (the “Subject Person”) exceeds the
designated percentage threshold of the outstanding voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control would
occur (but for the operation of this sentence) as a result of the acquisition of voting securities by the Company, and 

  
 2 

 
after such share acquisition, the Subject Person becomes the owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the
percentage of the then outstanding voting securities owned by the Subject Person over the designated percentage threshold, then a Change in Control shall be deemed to occur; 

(b) there is consummated a merger, consolidation, share exchange, division, other reorganization or similar transaction involving (directly
or indirectly) the Company and, immediately after the consummation of such merger, consolidation, share exchange, division, other reorganization or similar transaction, the stockholders of the Company immediately prior thereto do not own, directly
or indirectly, either (A) outstanding voting securities representing more than fifty percent (50%) of the combined outstanding voting power of the surviving entity in such merger, consolidation or similar transaction or (B) more than
fifty percent (50%) of the combined outstanding voting power of the parent of the surviving entity in such merger, consolidation or similar transaction, in each case in substantially the same proportions as their ownership of the outstanding
voting securities of the Company immediately prior to such transaction; 
 (c) during any period of two (2) consecutive years,
individuals who, at the beginning of such period, constitute the Board together with any new Director(s) (other than a Director designated by a person who shall have entered into an agreement with the Company to effect a transaction described in
Section 2.10(a), Section 2.10(b) or Section 2.10(e) hereof) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the Directors then still
in office who either were directors at the beginning of the two (2)-year period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof; 

(d) the stockholders of the Company approve or the Board approves a plan of complete dissolution or liquidation of the Company, or a complete
dissolution or liquidation of the Company shall otherwise occur; or 
 (e) there is consummated a sale, lease, exclusive license or other
disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries
to an entity, more than fifty percent (50%) of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same proportions as their ownership of the outstanding voting securities of
the Company immediately prior to such sale, lease, license or other disposition. For the avoidance of doubt, the term Change in Control shall not include a sale of assets, merger or other transaction effected exclusively for the purpose of changing
the domicile of the Company. 
 In addition, if a Change in Control constitutes a payment event or a toggle event with respect to any Award (or any portion
of an Award) which provides for the deferral of compensation and is subject to Section 409A of the Code, to the extent required to avoid the imposition of additional taxes under Section 409A of the Code, the transaction or event described
in subsection (a), (b), (c) or (d) with respect to such Award (or portion thereof) shall only constitute a Change in Control for purposes of the payment timing of such Award if such transaction also constitutes a “change in control
event,” as defined in Treasury Regulation §1.409A-3(i)(5) to the extent required by Section 409A of the Code. 

  
 3 

 The Committee shall have full and final authority, which shall be exercised in its discretion, to determine
conclusively whether a Change in Control of the Company has occurred pursuant to the above definition, and the date of the occurrence of such Change in Control and any incidental matters relating thereto. 

2.11 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, together with the
regulations and official guidance promulgated thereunder, whether issued prior or subsequent to the grant of any Award. 

2.12 “Committee” shall mean the Compensation Committee of the Board, a subcommittee of the Compensation
Committee of the Board or another committee or subcommittee of the Board, appointed as provided in Section 13.1 hereof. 

2.13 “Common Stock” shall mean the common stock of the Company, par value $0.001 per share. 

2.14 “Company” shall have the meaning set forth in Article 1 hereof. 

2.15 “Consultant” shall mean any consultant or advisor engaged to provide services to the Company or any
Affiliate who qualifies as a consultant or advisor under the applicable rules of the Securities and Exchange Commission for registration of shares on a Form S-8 Registration Statement or any successor Form thereto or, prior to the Public Trading
Date, under Rule 701 of the Securities Act. 
 2.16 “Covered Employee” shall mean any Employee who is, or
could be, a “covered employee” within the meaning of Section 162(m) of the Code. 
 2.17 “Deferred
Stock” shall mean a right to receive Shares awarded under Section 10.4 hereof. 
 2.18 “Deferred Stock
Unit” shall mean a right to receive Shares awarded under Section 10.5 hereof. 
 2.19
“Director” shall mean a member of the Board, as constituted from time to time. 
 2.20 “Dividend
Equivalent” shall mean a right to receive the equivalent value (in cash or Shares) of dividends paid on Shares, awarded under Section 10.2 hereof. 

2.21 “DRO” shall mean a “domestic relations order” as defined by the Code or Title I of the Employee
Retirement Income Security Act of 1974, as amended from time to time, or the rules thereunder. 
 2.22 “Effective
Date” shall mean immediately prior to the date on which the Company registration statement relating to its initial public offering becomes effective, provided that the Board has adopted the Plan prior to or on such date, subject to approval
of the Plan by the Company’s stockholders. 

  
 4 

 2.23 “Eligible Individual” shall mean any person who is an
Employee, a Consultant or a Non-Employee Director, as determined by the Administrator. 
 2.24 “Employee”
shall mean any officer or other employee (as determined in accordance with Section 3401(c) of the Code and the Treasury Regulations thereunder) of the Company or any Affiliate. 

2.25 “Equity Restructuring” shall mean a nonreciprocal transaction between the Company and its stockholders,
such as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects the number or kind of Shares (or other securities of the Company) or the share price of Common Stock (or
other securities) and causes a change in the per share value of the Common Stock underlying outstanding stock-based Awards. 

2.26 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 

2.27 “Fair Market Value” shall mean, as of any given date, the value of a Share determined as follows: 

(a) If the Common Stock is (i) listed on any established securities exchange (such as the New York Stock Exchange, the NASDAQ Global
Market and the NASDAQ Global Select Market), (ii) listed on any national market system or (iii) listed, quoted or traded on any automated quotation system, its Fair Market Value shall be the closing sales price for a Share as quoted on
such exchange or system for such date or, if there is no closing sales price for a Share on the date in question, the closing sales price for a Share on the last preceding date for which such quotation exists, as reported in The Wall Street Journal
or such other source as the Administrator deems reliable; 
 (b) If the Common Stock is not listed on an established securities exchange,
national market system or automated quotation system, but the Common Stock is regularly quoted by a recognized securities dealer, its Fair Market Value shall be the mean of the high bid and low asked prices for such date or, if there are no high bid
and low asked prices for a Share on such date, the high bid and low asked prices for a Share on the last preceding date for which such information exists, as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; or 
 (c) If the Common Stock is neither listed on an established securities exchange, national market system or automated
quotation system nor regularly quoted by a recognized securities dealer, its Fair Market Value shall be established by the Administrator in good faith. 

Notwithstanding the foregoing, with respect to any Award granted after the effectiveness of the Company’s registration statement relating to its initial
public offering and prior to the Public Trading Date, the Fair Market Value shall mean the initial public offering price of a Share as set forth in the Company’s final prospectus relating to its initial public offering filed with the Securities
and Exchange Commission. 

  
 5 

 2.28 “Good Reason” shall mean, unless such term or an equivalent
term is otherwise defined by the applicable Award Agreement or other written agreement between a Participant and the Company applicable to an Award, with respect to any particular Participant, the Participant’s resignation from all positions he
or she then-holds with the Company if (A) without Participant’s written consent (I) there is a material diminution in Participant’s duties and responsibilities with the Company; provided, however, that a change in
title or reporting relationship will not constitute Good Reason; (II) there is a material reduction of the Participant’s base salary; provided, however, that a material reduction in the Participant’s base salary pursuant to a
salary reduction program affecting all or substantially all of the employees of the Company and that does not adversely affect Participant to a greater extent than other similarly situated employees shall not constitute Good Reason; or (III) the
Participant is required to relocate his or her primary work location to a facility or location that would increase the Participant’s one way commute distance by more than fifty (50) miles from the Participant’s primary work location
as of immediately prior to such change, (B) the Participant provides written notice outlining such conditions, acts or omissions to the Company’s General Counsel within thirty (30) days immediately following such material change or
reduction, (C) such material change or reduction is not remedied by the Company within thirty (30) days following the Company’s receipt of such written notice and (D) the Participant’s resignation is effective not later than
thirty (30) days after the expiration of such thirty (30) day cure period. 
 2.29 “Greater Than 10%
Stockholder” shall mean an individual then owning (within the meaning of Section 424(d) of the Code) more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any “parent
corporation” or “subsidiary corporation” (as defined in Sections 424(e) and 424(f) of the Code, respectively). 

2.30 “Holder” shall mean a person who has been granted an Award. 

2.31 “Incentive Stock Option” shall mean an Option that is intended to qualify as an incentive stock option
and conforms to the applicable provisions of Section 422 of the Code. 
 2.32 “Non-Employee Director”
shall mean a Director of the Company who is not an Employee. 
 2.33 “Non-Employee Director Equity Compensation
Policy” shall have the meaning set forth in Section 4.6 hereof. 
 2.34 “Non-Qualified Stock
Option” shall mean an Option that is not an Incentive Stock Option or which is designated as an Incentive Stock Option but does not meet the applicable requirements of Section 422 of the Code. 

2.35 “Option” shall mean a right to purchase Shares at a specified exercise price, granted under Article 6
hereof. An Option shall be either a Non-Qualified Stock Option or an Incentive Stock Option; provided, however, that Options granted to Non-Employee Directors and Consultants shall only be Non-Qualified Stock Options. 

  
 6 

 2.36 “Option Term” shall have the meaning set forth in
Section 6.4 hereof. 
 2.37 “Parent” shall mean any entity (other than the Company), whether domestic
or foreign, in an unbroken chain of entities ending with the Company if each of the entities other than the Company beneficially owns, at the time of the determination, securities or interests representing more than fifty percent (50%) of the
total combined voting power of all classes of securities or interests in one of the other entities in such chain. 
 2.38
“Performance Award” shall mean a cash bonus award, stock bonus award, performance award or incentive award that is paid in cash, Shares or a combination of both, awarded under Section 10.1 hereof. 

2.39 “Performance-Based Compensation” shall mean any compensation that is intended to qualify as
“performance-based compensation” as described in Section 162(m)(4)(C) of the Code. 
 2.40
“Performance Criteria” shall mean the criteria (and adjustments) that the Committee selects for an Award for purposes of establishing the Performance Goal or Performance Goals for a Performance Period, determined as follows: 

(a) The Performance Criteria that shall be used to establish Performance Goals are limited to the following: (i) net earnings (either
before or after one or more of the following: (A) interest, (B) taxes, (C) depreciation, (D) amortization and (E) non-cash equity-based compensation expense); (ii) gross or net sales or revenue; (iii) net income
(either before or after taxes); (iv) adjusted net income; (v) operating income, earnings or profit (either before or after taxes); (vi) cash flow (including, but not limited to, cash flow return on investments, operating cash flow and
free cash flow); (vii) return on assets; (viii) return on capital; (ix) return on stockholders’ equity; (x) total stockholder return; (xi) return on sales; (xii) gross or net profit or operating margin;
(xiii) costs; (xiv) funds from operations; (xv) expenses; (xvi) working capital; (xvii) earnings per Share; (xviii) adjusted earnings per share; (xix) price per Share; (xx) regulatory body approval for
commercialization of a product; (xxi) implementation or completion of critical projects; (xxii) market share; (xxiii) economic value; (xxiv) debt levels or reduction; (xxv) customer retention; (xxvi) sales-related
goals; (xxvii) comparisons with other stock market indices; (xxviii) operating efficiency; (xxix) customer satisfaction and/or growth; (xxx) employee satisfaction; (xxxi) research and development achievements;
(xxxii) financing and other capital raising transactions; (xxxiii) recruiting and maintaining personnel; and (xxxiv) year-end cash, any of which may be measured either in absolute terms for the Company or any operating unit of the
Company or as compared to any incremental increase or decrease or as compared to results of a peer group or to market performance indicators or indices. 

(b) The Administrator may, in its sole discretion, provide that one or more objectively determinable adjustments shall be made to one or more
of the Performance Goals. Such adjustments may include, but are not limited to, one or more of the following: (i) items related to a change in accounting principle; (ii) items relating to financing activities; (iii) expenses for
restructuring or productivity initiatives; (iv) other non-operating items; (v) items related to acquisitions; (vi) items attributable to the business operations of any entity acquired by the Company during the Performance Period;
(vii) items related to the sale or 

  
 7 

 
disposition of a business or segment of a business; (viii) items related to discontinued operations that do not qualify as a segment of a business under Applicable Accounting Standards;
(ix) items attributable to any stock dividend, stock split, combination or exchange of stock occurring during the Performance Period; (x) any other items of significant income or expense which are determined to be appropriate adjustments;
(xi) items relating to unusual or extraordinary corporate transactions, events or developments, (xii) items related to amortization of acquired intangible assets; (xiii) items that are outside the scope of the Company’s core,
on-going business activities; (xiv) items related to acquired in-process research and development; (xv) items relating to changes in tax laws; (xvi) items relating to major licensing or partnership arrangements; (xvii) items
relating to asset impairment charges; (xviii) items relating to gains or losses for litigation, arbitration and contractual settlements; or (xix) items relating to any other unusual or nonrecurring events or changes in Applicable Laws,
accounting principles or business conditions. For all Awards intended to qualify as Performance-Based Compensation, such determinations shall be made within the time prescribed by, and otherwise in compliance with, Section 162(m) of the Code.

 2.41 “Performance Goals” shall mean, with respect to a Performance Period, one or more goals established
in writing by the Administrator for the Performance Period based upon one or more Performance Criteria. Depending on the Performance Criteria used to establish such Performance Goals, the Performance Goals may be expressed in terms of overall
Company performance or the performance of an Affiliate, a division, business unit or one or more individuals. The achievement of each Performance Goal shall be determined, to the extent applicable, with reference to Applicable Accounting Standards.

 2.42 “Performance Period” shall mean one or more periods of time, which may be of varying and overlapping
durations, as the Administrator may select, over which the attainment of one or more Performance Goals will be measured for the purpose of determining a Holder’s right to, and the payment of, a Performance Award. 

2.43 “Performance Stock Unit” shall mean a Performance Award awarded under Section 10.1 hereof which is
denominated in units of value including dollar value of shares of Common Stock. 
 2.44 “Permitted
Transferee” shall mean, with respect to a Holder, (a) prior to the Public Trading Date, any “family member” of the Holder, as defined under Rule 701 of the Securities Act and (b) on or after the Public Trading Date, any
“family member” of the Holder, as defined under the General Instructions to Form S-8 Registration Statement under the Securities Act or any successor Form thereto, or any other transferee specifically approved by the Administrator, after
taking into account Applicable Law. 
 2.45 “Plan” shall have the meaning set forth in Article 1 hereof.

 2.46 “Prior Plan” shall mean the Relypsa, Inc. Amended and Restated 2007 Equity Incentive Plan, as such
plan may be amended from time to time. 
 2.47 “Program” shall mean any program adopted by the Administrator
pursuant to the Plan containing the terms and conditions intended to govern a specified type of Award granted under the Plan and pursuant to which such type of Award may be granted under the Plan. 

  
 8 

 2.48 “Public Trading Date” shall mean the first date upon which
the Common Stock is listed (or approved for listing) upon notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national market security on an interdealer quotation system. 

2.49 “Restricted Stock” shall mean an award of Shares made under Article 8 hereof that is subject to certain
restrictions and may be subject to risk of forfeiture or repurchase. 
 2.50 “Restricted Stock Unit” shall
mean a contractual right awarded under Article 9 hereof to receive in the future a Share or the Fair Market Value of a Share in cash. 

2.51 “Securities Act” shall mean the Securities Act of 1933, as amended. 

2.52 “Shares” shall mean shares of Common Stock. 

2.53 “Stock Appreciation Right” shall mean a stock appreciation right granted under Article 11 hereof. 

2.54 “Stock Appreciation Right Term” shall have the meaning set forth in Section 11.4 hereof. 

2.55 “Stock Payment” shall mean (a) a payment in the form of Shares, or (b) an option or other right
to purchase Shares, as part of a bonus, deferred compensation or other arrangement, awarded under Section 10.3 hereof. 

2.56 “Subsidiary” shall mean any entity (other than the Company), whether domestic or foreign, in an unbroken
chain of entities beginning with the Company if each of the entities other than the last entity in the unbroken chain beneficially owns, at the time of the determination, securities or interests representing more than fifty percent (50%) of the
total combined voting power of all classes of securities or interests in one of the other entities in such chain. 
 2.57
“Substitute Award” shall mean an Award granted under the Plan upon the assumption of, or in substitution for, outstanding equity awards previously granted by a company or other entity in connection with a corporate transaction, such
as a merger, combination, consolidation or acquisition of property or stock; provided, however, that in no event shall the term “Substitute Award” be construed to refer to an award made in connection with the cancellation and
repricing of an Option or Stock Appreciation Right. 
 2.58 “Termination of Service” shall mean: 

(a) As to a Consultant, the time when the engagement of a Holder as a Consultant to the Company or an Affiliate is terminated for any reason,
with or without cause, including, without limitation, by resignation, discharge, death or retirement, but excluding terminations where the Consultant simultaneously commences or remains in employment or service with the Company or any Affiliate.

  
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 (b) As to a Non-Employee Director, the time when a Holder who is a Non-Employee Director ceases
to be a Director for any reason, including, without limitation, a termination by resignation, failure to be elected, death or retirement, but excluding terminations where the Holder simultaneously commences or remains in employment or service with
the Company or any Affiliate. 
 (c) As to an Employee, the time when the employee-employer relationship between a Holder and the Company
or any Affiliate is terminated for any reason, including, without limitation, a termination by resignation, discharge, death, disability or retirement; but excluding terminations where the Holder simultaneously commences or remains in employment or
service with the Company or any Affiliate. 
 The Administrator, in its sole discretion, shall determine the effect of all matters and
questions relating to Terminations of Service, including, without limitation, the question of whether a Termination of Service resulted from a discharge for cause and all questions of whether particular leaves of absence constitute a Termination of
Service; provided, however, that, with respect to Incentive Stock Options, unless the Administrator otherwise provides in the terms of the Program, the Award Agreement or otherwise, a leave of absence, change in status from an employee
to an independent contractor or other change in the employee-employer relationship shall constitute a Termination of Service only if, and to the extent that, such leave of absence, change in status or other change interrupts employment for the
purposes of Section 422(a)(2) of the Code and the then applicable regulations and revenue rulings under said Section. For purposes of the Plan, a Holder’s employee-employer relationship or consultancy relations shall be deemed to be
terminated in the event that the Affiliate employing or contracting with such Holder ceases to remain an Affiliate following any merger, sale of stock or other corporate transaction or event (including, without limitation, a spin-off). 

ARTICLE 3. 
 SHARES
SUBJECT TO THE PLAN 
 3.1 Number of Shares. 

(a) Subject to Sections 14.1, 14.2 and 3.1(b) hereof, the aggregate number of Shares which may be issued or transferred pursuant to Awards
under the Plan shall be equal to the sum of (i) 1,276,587 Shares, (ii) any of the Shares which as of the Effective Date are available for issuance under the Prior Plan, or are subject to awards under the Prior Plan that, on or after the
Effective Date, terminate, expire or lapse for any reason without the delivery of Shares to the holder thereof, up to a maximum of 3,660,123 Shares, and (iii) an annual increase on the first day of each year beginning in 2015 and ending in
2023, equal to the lesser of (A) 2,553,174 shares, (B) four percent (4%) of the Shares outstanding (on an as converted basis) on the last day of the immediately preceding fiscal year and (C) such smaller number of Shares as

  
 10 

 
determined by the Board; provided, however, no more than 20,717,508 Shares may be issued upon the exercise of Incentive Stock Options. Notwithstanding the foregoing, Shares
added to the share limit pursuant to Section 3.1(a)(ii) or Section 3.1(a)(iii) hereof shall be available for issuance as Incentive Stock Options only to the extent that making such Shares available for issuance as Incentive Stock Options
would not cause any Incentive Stock Option to cease to qualify as such. Notwithstanding the foregoing, to the extent permitted under Applicable Law, Awards that provide for the delivery of Shares subsequent to the applicable grant date may be
granted in excess of the Share Limit if such Awards provide for the forfeiture or cash settlement of such Awards to the extent that insufficient Shares remain under the share limit in this Section 3.1 at the time that Shares would otherwise be
issued in respect of such Award. As of the Effective Date, no further awards may be granted under the Prior Plan; however, any awards under the Prior Plan that are outstanding as of the Effective Date shall continue to be subject to the terms and
conditions of the Prior Plan. All share numbers in this Section 3.1(a) and Section 3.3 reflect the 17.2-to-1 reverse stock split that will be effective as of the day following the Effective Date, and shall not be further adjusted for such
reverse stock split. 
 (b) If any Shares subject to an Award are forfeited or expire or such Award is settled for cash (in whole or in
part), the Shares subject to such Award shall, to the extent of such forfeiture, expiration or cash settlement, again be available for future grants of Awards under the Plan. Notwithstanding anything to the contrary contained herein, the following
Shares shall not be added to the Shares authorized for grant under Section 3.1(a) hereof and will not be available for future grants of Awards: (i) Shares tendered by a Holder or withheld by the Company in payment of the exercise price of
an Option; (ii) Shares tendered by the Holder or withheld by the Company to satisfy any tax withholding obligation with respect to an Award; (iii) Shares subject to a Stock Appreciation Right that are not issued in connection with the
stock settlement of the Stock Appreciation Right on exercise thereof; and (iv) Shares purchased on the open market with the cash proceeds from the exercise of Options. Any Shares repurchased by the Company under Section 8.4 hereof at the
same price paid by the Holder or a lower price so that such Shares are returned to the Company will again be available for Awards. The payment of Dividend Equivalents in cash in conjunction with any outstanding Awards shall not be counted against
the shares available for issuance under the Plan. Notwithstanding the provisions of this Section 3.1(b), no Shares may again be optioned, granted or awarded if such action would cause an Incentive Stock Option to fail to qualify as an incentive
stock option under Section 422 of the Code. 
 (c) Substitute Awards shall not reduce the Shares authorized for grant under the Plan.
Additionally, in the event that a company acquired by the Company or any Affiliate or with which the Company or any Affiliate combines has shares available under a pre-existing plan approved by its stockholders and not adopted in contemplation of
such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such
acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares authorized for grant
under the Plan; provided that Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to
individuals who were not employed by or providing services to the Company or its Affiliates immediately prior to such acquisition or combination. 

  
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 3.2 Stock Distributed. Any Shares distributed pursuant to an Award may
consist, in whole or in part, of authorized and unissued Common Stock, treasury Common Stock or Common Stock purchased on the open market. 

3.3 Limitation on Number of Shares Subject to Awards. Notwithstanding any provision in the Plan to the contrary, and
subject to Section 14.2 hereof, the maximum aggregate number of Shares with respect to one or more Awards that may be granted to any one person during any calendar year shall be 2,000,000 and the maximum aggregate amount of cash that may be
paid in cash to any one person during any calendar year with respect to one or more Awards payable in cash shall be $3,000,000. To the extent required by Section 162(m) of the Code, Shares subject to Awards which are canceled shall continue to
be counted against the Award Limit; provided, however, that the foregoing limitations shall not apply until the earliest of the following events to occur after the Public Trading Date: (a) the first material modification of the
Plan (including any increase in the share limit in accordance with Section 3.1 hereof); (b) the issuance of all of the Shares reserved for issuance under the Plan; (c) the expiration of the Plan; (d) the first meeting of
stockholders at which members of the Board are to be elected that occurs after the close of the third calendar year following the calendar year in which occurred the first registration of an equity security of the Company under Section 12 of
the Exchange Act; or (e) such other date required by Section 162(m) of the Code and the rules and regulations promulgated thereunder. 

ARTICLE 4. 
 GRANTING OF
AWARDS 
 4.1 Participation. The Administrator may, from time to time, select from among all Eligible
Individuals, those to whom an Award shall be granted and shall determine the nature and amount of each Award, which shall not be inconsistent with the requirements of the Plan. Except as provided in Section 4.6 hereof regarding the grant of
Awards pursuant to the Non-Employee Director Equity Compensation Policy, no Eligible Individual shall have any right to be granted an Award pursuant to the Plan. 

4.2 Award Agreement. Each Award shall be evidenced by an Award Agreement that sets forth the terms, conditions and
limitations for such Award, which may include the term of the Award, the provisions applicable in the event of the Holder’s Termination of Service, and the Company’s authority to unilaterally or bilaterally amend, modify, suspend, cancel
or rescind an Award. Award Agreements evidencing Awards intended to qualify as Performance-Based Compensation shall contain such terms and conditions as may be necessary to meet the applicable provisions of Section 162(m) of the Code. Award
Agreements evidencing Incentive Stock Options shall contain such terms and conditions as may be necessary to meet the applicable provisions of Section 422 of the Code. 

  
 12 

 4.3 Limitations Applicable to Section 16 Persons. Notwithstanding any
other provision of the Plan, the Plan, and any Award granted or awarded to any individual who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under
Section 16 of the Exchange Act (including Rule 16b-3 of the Exchange Act and any amendments thereto) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable
Law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule. 

4.4 At-Will Employment; Voluntary Participation. Nothing in the Plan or in any Program or Award Agreement hereunder
shall confer upon any Holder any right to continue in the employ of, or as a Director or Consultant for, the Company or any Affiliate, or shall interfere with or restrict in any way the rights of the Company and any Affiliate, which rights are
hereby expressly reserved, to discharge any Holder at any time for any reason whatsoever, with or without cause, and with or without notice, or to terminate or change all other terms and conditions of employment or engagement, except to the extent
expressly provided otherwise in a written agreement between the Holder and the Company or any Affiliate. Participation by each Holder in the Plan shall be voluntary and nothing in the Plan shall be construed as mandating that any Eligible Individual
shall participate in the Plan. 
 4.5 Foreign Holders. Notwithstanding any provision of the Plan to the contrary, in
order to comply with the laws in countries other than the United States in which the Company and its Affiliates operate or have Employees, Non-Employee Directors or Consultants, or in order to comply with the requirements of any foreign securities
exchange, the Administrator, in its sole discretion, shall have the power and authority to: (a) determine which Affiliates shall be covered by the Plan; (b) determine which Eligible Individuals outside the United States are eligible to
participate in the Plan; (c) modify the terms and conditions of any Award granted to Eligible Individuals outside the United States to comply with applicable foreign laws or listing requirements of any such foreign securities exchange;
(d) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable (any such subplans and/or modifications shall be attached to the Plan as appendices);
provided, however, that no such subplans and/or modifications shall increase the share limitations contained in Sections 3.1 and 3.3 hereof; and (e) take any action, before or after an Award is made, that it deems advisable to
obtain approval or comply with any necessary local governmental regulatory exemptions or approvals or listing requirements of any such foreign securities exchange. Notwithstanding the foregoing, the Administrator may not take any actions hereunder,
and no Awards shall be granted, that would violate the Code, the Exchange Act, the Securities Act, any other securities law or governing statute, the rules of the securities exchange or automated quotation system on which the Shares are listed,
quoted or traded or any other Applicable Law. For purposes of the Plan, all references to foreign laws, rules, regulations or taxes shall be references to the laws, rules, regulations and taxes of any applicable jurisdiction other than the United
States or a political subdivision thereof. 
 4.6 Non-Employee Director Awards. The Administrator may, in its
discretion, provide that Awards granted to Non-Employee Directors shall be granted pursuant to a written non-discretionary formula established by the Administrator (the “Non-Employee Director Equity Compensation Policy”), subject to
the limitations of the Plan. The Non-Employee 

  
 13 

 
Director Equity Compensation Policy shall set forth the type of Award(s) to be granted to Non-Employee Directors, the number of Shares to be subject to Non-Employee Director Awards, the
conditions on which such Awards shall be granted, become exercisable and/or payable and expire, and such other terms and conditions as the Administrator shall determine in its discretion. The Non-Employee Director Equity Compensation Policy may be
modified by the Administrator from time to time in its discretion. 
 4.7 Stand-Alone and Tandem Awards. Awards
granted pursuant to the Plan may, in the sole discretion of the Administrator, be granted either alone, in addition to, or in tandem with, any other Award granted pursuant to the Plan. Awards granted in addition to or in tandem with other Awards may
be granted either at the same time as or at a different time from the grant of such other Awards. 
 ARTICLE 5. 

PROVISIONS APPLICABLE TO AWARDS INTENDED TO QUALIFY AS 

PERFORMANCE-BASED COMPENSATION. 

5.1 Purpose. The Committee, in its sole discretion, may determine at the time an Award is granted or at any time
thereafter whether any Award is intended to qualify as Performance-Based Compensation. If the Committee, in its sole discretion, decides to grant such an Award to an Eligible Individual that is intended to qualify as Performance-Based Compensation,
then the provisions of this Article 5 shall control over any contrary provision contained in the Plan. The Administrator may in its sole discretion grant Awards to other Eligible Individuals that are based on Performance Criteria or Performance
Goals but that do not satisfy the requirements of this Article 5 and that are not intended to qualify as Performance-Based Compensation. Unless otherwise specified by the Committee at the time of grant, the Performance Criteria with respect to an
Award intended to be Performance-Based Compensation payable to a Covered Employee shall be determined on the basis of Applicable Accounting Standards. 

5.2 Applicability. The grant of an Award to an Eligible Individual for a particular Performance Period shall not require
the grant of an Award to such Eligible Individual in any subsequent Performance Period and the grant of an Award to any one Eligible Individual shall not require the grant of an Award to any other Eligible Individual in such period or in any other
period. 
 5.3 Types of Awards. Notwithstanding anything in the Plan to the contrary, the Committee may grant any
Award to an Eligible Individual intended to qualify as Performance-Based Compensation, including, without limitation, Restricted Stock the restrictions with respect to which lapse upon the attainment of specified Performance Goals, Restricted Stock
Units that vest and become payable upon the attainment of specified Performance Goals and any Performance Awards described in Article 10 hereof that vest or become exercisable or payable upon the attainment of one or more specified Performance
Goals. 
 5.4 Procedures with Respect to Performance-Based Awards. To the extent necessary to comply with the
requirements of Section 162(m)(4)(C) of the Code, with respect 

  
 14 

 
to any Award granted to one or more Eligible Individuals which is intended to qualify as Performance-Based Compensation, no later than ninety (90) days following the commencement of any
Performance Period or any designated fiscal period or period of service (or such earlier time as may be required under Section 162(m) of the Code), the Committee shall, in writing, (a) designate one or more Eligible Individuals,
(b) select the Performance Criteria applicable to the Performance Period, (c) establish the Performance Goals, and amounts of such Awards, as applicable, which may be earned for such Performance Period based on the Performance Goals, and
(d) specify the relationship between the Performance Criteria and the Performance Goals and the amounts of such Awards, as applicable, to be earned by each Covered Employee for such Performance Period. Following the completion of each
Performance Period, the Committee shall certify in writing whether and the extent to which the applicable Performance Goals have been achieved for such Performance Period. In determining the amount earned under such Awards, unless otherwise provided
in an applicable Program or Award Agreement, the Committee shall have the right to reduce or eliminate (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Committee may deem
relevant, including the assessment of individual or corporate performance for the Performance Period. 
 5.5 Payment of
Performance-Based Awards. Unless otherwise provided in the applicable Program or Award Agreement or pursuant to Section 14.2 hereof and only to the extent otherwise permitted by Section 162(m)(4)(C) of the Code, as to an Award that is
intended to qualify as Performance-Based Compensation, the Holder must be employed by the Company or an Affiliate throughout the applicable Performance Period. Unless otherwise provided in the applicable Performance Goals, Program or Award
Agreement, a Holder shall be eligible to receive payment pursuant to such Awards for a Performance Period only if and to the extent the Performance Goals for such applicable Performance Period are achieved. 

5.6 Additional Limitations. Notwithstanding any other provision of the Plan and except as otherwise determined by the
Administrator, any Award which is granted to an Eligible Individual and is intended to qualify as Performance-Based Compensation shall be subject to any additional limitations set forth in Section 162(m) of the Code or any regulations or
rulings issued thereunder that are requirements for qualification as Performance-Based Compensation, and the Plan, the Program and the Award Agreement shall be deemed amended to the extent necessary to conform to such requirements. 

ARTICLE 6. 
 GRANTING OF
OPTIONS 
 6.1 Granting of Options to Eligible Individuals. The Administrator is authorized to grant Options to
Eligible Individuals from time to time, in its sole discretion, on such terms and conditions as it may determine which shall not be inconsistent with the Plan. 

6.2 Qualification of Incentive Stock Options. No Incentive Stock Option shall be granted to any person who is not an
Employee of the Company or any subsidiary corporation (as defined in Section 424(f) of the Code) of the Company. No person who qualifies as a Greater Than 10% Stockholder may be granted an Incentive Stock Option unless such 

  
 15 

 Incentive Stock Option conforms to the applicable provisions of Section 422 of the Code. Any Incentive Stock
Option granted under the Plan may be modified by the Administrator, with the consent of the Holder, to disqualify such Option from treatment as an “incentive stock option” under Section 422 of the Code. To the extent that the
aggregate fair market value of stock with respect to which “incentive stock options” (within the meaning of Section 422 of the Code, but without regard to Section 422(d) of the Code) are exercisable for the first time by a Holder
during any calendar year under the Plan, and all other plans of the Company and any subsidiary or parent corporation thereof (each as defined in Section 424(f) and (e) of the Code, respectively), exceeds $100,000, the Options shall be
treated as Non-Qualified Stock Options to the extent required by Section 422 of the Code. The rule set forth in the preceding sentence shall be applied by taking Options and other “incentive stock options” into account in the order in
which they were granted and the Fair Market Value of stock shall be determined as of the time the respective options were granted. In addition, to the extent that any Options otherwise fail to qualify as Incentive Stock Options, such Options shall
be treated as Nonqualified Stock Options. 
 6.3 Option Exercise Price. Except as provided in Article 14 hereof, the
exercise price per Share subject to each Option shall be set by the Administrator, but shall not be less than one hundred percent (100%) of the Fair Market Value of a Share on the date the Option is granted (or, as to Incentive Stock Options,
on the date the Option is modified, extended or renewed for purposes of Section 424(h) of the Code). In addition, in the case of Incentive Stock Options granted to a Greater Than 10% Stockholder, such price shall not be less than one hundred
ten percent (110%) of the Fair Market Value of a Share on the date the Option is granted (or the date the Option is modified, extended or renewed for purposes of Section 424(h) of the Code). 

6.4 Option Term. The term of each Option (the “Option Term”) shall be set by the Administrator in its
sole discretion; provided, however, that the Option Term shall not be more than ten (10) years from the date the Option is granted, or five (5) years from the date an Incentive Stock Option is granted to a Greater Than 10%
Stockholder. The Administrator shall determine the time period, including the time period following a Termination of Service, during which the Holder has the right to exercise the vested Options, which time period may not extend beyond the last day
of the Option Term. Except as limited by the requirements of Section 409A or Section 422 of the Code and regulations and rulings thereunder, the Administrator may extend the Option Term of any outstanding Option, may extend the time period
during which vested Options may be exercised following any Termination of Service of the Holder, and may amend any other term or condition of such Option relating to such a Termination of Service. 

6.5 Option Vesting. 

(a) The period during which the right to exercise, in whole or in part, an Option vests in the Holder shall be set by the Administrator and
the Administrator may determine that an Option may not be exercised in whole or in part for a specified period after it is granted. Such vesting may be based on service with the Company or any Affiliate, any of the Performance Criteria, or any other
criteria selected by the Administrator. At any time after the grant of an Option, the Administrator may, in its sole discretion and subject to whatever terms and conditions it selects, accelerate the vesting of the Option, including following a
Termination of Service; provided, that in no event shall an Option become exercisable following its expiration, termination or forfeiture. 

  
 16 

 (b) No portion of an Option which is unexercisable at a Holder’s Termination of Service
shall thereafter become exercisable, except as may be otherwise provided by the Administrator either in the Program, the Award Agreement or by action of the Administrator following the grant of the Option. 

6.6 Substitute Awards. Notwithstanding the foregoing provisions of this Article 6 to the contrary, in the case of an
Option that is a Substitute Award, the price per share of the shares subject to such Option may be less than the Fair Market Value per share on the date of grant; provided that the excess of: (a) the aggregate Fair Market Value (as of
the date such Substitute Award is granted) of the shares subject to the Substitute Award, over (b) the aggregate exercise price thereof does not exceed the excess of: (x) the aggregate fair market value (as of the time immediately
preceding the transaction giving rise to the Substitute Award, such fair market value to be determined by the Administrator) of the shares of the predecessor entity that were subject to the grant assumed or substituted for by the Company, over
(y) the aggregate exercise price of such shares. 
 6.7 Substitution of Stock Appreciation Rights. The
Administrator may provide in the applicable Program or the Award Agreement evidencing the grant of an Option that the Administrator, in its sole discretion, shall have the right to substitute a Stock Appreciation Right for such Option at any time
prior to or upon exercise of such Option; provided that such Stock Appreciation Right shall be exercisable with respect to the same number of Shares for which such substituted Option would have been exercisable, and shall also have the same
exercise price, vesting schedule and remaining Option Term as the substituted Option. 
 ARTICLE 7. 

EXERCISE OF OPTIONS 

7.1 Partial Exercise. An exercisable Option may be exercised in whole or in part. However, an Option shall not be
exercisable with respect to fractional shares and the Administrator may require that, by the terms of the Option, a partial exercise must be with respect to a minimum number of Shares. 

7.2 Manner of Exercise. All or a portion of an exercisable Option shall be deemed exercised upon delivery of all of the
following to the Secretary of the Company, or such other person or entity designated by the Administrator, or his, her or its office, as applicable: 

(a) A written or electronic notice complying with the applicable rules established by the Administrator stating that the Option, or a portion
thereof, is exercised. The notice shall be signed by the Holder or other person then entitled to exercise the Option or such portion of the Option; 

(b) Such representations and documents as the Administrator, in its sole discretion, deems necessary or advisable to effect compliance with
all Applicable Law. The 

  
 17 

 
Administrator may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such compliance including, without limitation, placing legends on share
certificates and issuing stop-transfer notices to agents and registrars; 
 (c) In the event that the Option shall be exercised pursuant to
Section 12.3 hereof by any person or persons other than the Holder, appropriate proof of the right of such person or persons to exercise the Option, as determined in the sole discretion of the Administrator; and 

(d) Full payment of the exercise price and applicable withholding taxes to the stock administrator of the Company for the shares with respect
to which the Option, or portion thereof, is exercised, in a manner permitted by Section 12.1 and 12.2 hereof. 
 7.3
Notification Regarding Disposition. The Holder shall give the Company prompt written or electronic notice of any disposition of Shares acquired by exercise of an Incentive Stock Option which occurs within (a) two (2) years from the
date of granting (including the date the Option is modified, extended or renewed for purposes of Section 424(h) of the Code) of such Option to such Holder, or (b) one (1) year after the transfer of such shares to such Holder. 

ARTICLE 8. 
 AWARD OF
RESTRICTED STOCK 
 8.1 Award of Restricted Stock. 

(a) The Administrator is authorized to grant Restricted Stock to Eligible Individuals, and shall determine the terms and conditions, including
the restrictions applicable to each award of Restricted Stock, which terms and conditions shall not be inconsistent with the Plan, and may impose such conditions on the issuance of such Restricted Stock as it deems appropriate. 

(b) The Administrator shall establish the purchase price, if any, and form of payment for Restricted Stock; provided, however,
that if a purchase price is charged, such purchase price shall be no less than the par value, if any, of the Shares to be purchased, unless otherwise permitted by Applicable Law. In all cases, legal consideration shall be required for each issuance
of Restricted Stock to the extent required by Applicable Law. 
 8.2 Rights as Stockholders. Subject to
Section 8.4 hereof, upon issuance of Restricted Stock, the Holder shall have, unless otherwise provided by the Administrator, all the rights of a stockholder with respect to said shares, subject to the restrictions in the applicable Program or
in each individual Award Agreement, including the right to receive all dividends and other distributions paid or made with respect to the shares; provided, however, that, in the sole discretion of the Administrator, any extraordinary
distributions with respect to the Shares shall be subject to the restrictions set forth in Section 8.3 hereof. 
 8.3
Restrictions. All shares of Restricted Stock (including any shares received by Holders thereof with respect to shares of Restricted Stock as a result of stock dividends, stock 

  
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splits or any other form of recapitalization) shall, in the terms of the applicable Program or in each individual Award Agreement, be subject to such restrictions and vesting requirements as the
Administrator shall provide. Such restrictions may include, without limitation, restrictions concerning voting rights and transferability and such restrictions may lapse separately or in combination at such times and pursuant to such circumstances
or based on such criteria as selected by the Administrator, including, without limitation, criteria based on the Holder’s duration of employment, directorship or consultancy with the Company, the Performance Criteria, Company or Affiliate
performance, individual performance or other criteria selected by the Administrator. By action taken after the Restricted Stock is issued, the Administrator may, on such terms and conditions as it may determine to be appropriate, accelerate the
vesting of such Restricted Stock by removing any or all of the restrictions imposed by the terms of the Program and/or the Award Agreement. Restricted Stock may not be sold or encumbered until all restrictions are terminated or expire. 

8.4 Repurchase or Forfeiture of Restricted Stock. Except as otherwise determined by the Administrator at the time of the
grant of the Award or thereafter, if no price was paid by the Holder for the Restricted Stock, upon a Termination of Service during the applicable restriction period, the Holder’s rights in unvested Restricted Stock then subject to restrictions
shall lapse, and such Restricted Stock shall be surrendered to the Company and cancelled without consideration. If a price was paid by the Holder for the Restricted Stock, upon a Termination of Service during the applicable restriction period, the
Company shall have the right to repurchase from the Holder the unvested Restricted Stock then subject to restrictions at a cash price per share equal to the price paid by the Holder for such Restricted Stock or such other amount as may be specified
in the Program or the Award Agreement. Notwithstanding the foregoing, except as otherwise provided by Section 3.4 hereof, the Administrator in its sole discretion may provide that in the event of certain events, including a Change in Control,
the Holder’s death, retirement or disability or any other specified Termination of Service or any other event, the Holder’s rights in unvested Restricted Stock shall not lapse, such Restricted Stock shall vest and, if applicable, the
Company shall not have a right of repurchase. 
 8.5 Certificates for Restricted Stock. Restricted Stock granted
pursuant to the Plan may be evidenced in such manner as the Administrator shall determine. Certificates or book entries evidencing shares of Restricted Stock must include an appropriate legend referring to the terms, conditions, and restrictions
applicable to such Restricted Stock. The Company may, in it sole discretion, (a) retain physical possession of any stock certificate evidencing shares of Restricted Stock until the restrictions thereon shall have lapsed and/or (b) require
that the stock certificates evidencing shares of Restricted Stock be held in custody by a designated escrow agent (which may but need not be the Company) until the restrictions thereon shall have lapsed, and that the Holder deliver a stock power,
endorsed in blank, relating to such Restricted Stock. 
 8.6 Section 83(b) Election. If a Holder makes an
election under Section 83(b) of the Code to be taxed with respect to the Restricted Stock as of the date of transfer of the Restricted Stock rather than as of the date or dates upon which the Holder would otherwise be taxable under
Section 83(a) of the Code, the Holder shall be required to deliver a copy of such election to the Company promptly after filing such election with the Internal Revenue Service. 

  
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 ARTICLE 9. 

AWARD OF RESTRICTED STOCK UNITS 

9.1 Grant of Restricted Stock Units. The Administrator is authorized to grant Awards of Restricted Stock Units to any
Eligible Individual selected by the Administrator in such amounts and subject to such terms and conditions as determined by the Administrator. 

9.2 Term. Except as otherwise provided herein, the term of a Restricted Stock Unit award shall be set by the
Administrator in its sole discretion. 
 9.3 Purchase Price. The Administrator shall specify the purchase price, if
any, to be paid by the Holder to the Company with respect to any Restricted Stock Unit award; provided, however, that value of the consideration shall not be less than the par value of a Share, unless otherwise permitted by Applicable
Law. 
 9.4 Vesting of Restricted Stock Units. At the time of grant, the Administrator shall specify the date or dates
on which the Restricted Stock Units shall become fully vested and nonforfeitable, and may specify such conditions to vesting as it deems appropriate, including, without limitation, vesting based upon the Holder’s duration of service to the
Company or any Affiliate, one or more Performance Criteria, Company performance, individual performance or other specific criteria, in each case on a specified date or dates or over any period or periods, as determined by the Administrator, subject
to Section 3.4 hereof. 
 9.5 Maturity and Payment. At the time of grant, the Administrator shall specify the
maturity date applicable to each grant of Restricted Stock Units which shall be no earlier than the vesting date or dates of the Award and may be determined at the election of the Holder (if permitted by the applicable Award Agreement);
provided that, except as otherwise determined by the Administrator, set forth in any applicable Award Agreement, and subject to compliance with Section 409A of the Code, in no event shall the maturity date relating to each Restricted
Stock Unit occur following the later of (a) the fifteenth (15th) day of the third (3rd) month following the end of calendar year
in which the Restricted Stock Unit vests; or (b) the fifteenth (15th) day of the third (3rd) month following the end of the
Company’s fiscal year in which the Restricted Stock Unit vests. On the maturity date, the Company shall, subject to Section 12.4(e) hereof, transfer to the Holder one unrestricted, fully transferable Share for each Restricted Stock Unit
scheduled to be paid out on such date and not previously forfeited, or, in the sole discretion of the Administrator, an amount in cash equal to the Fair Market Value of such shares on the maturity date or a combination of cash and Common Stock as
determined by the Administrator. 
 9.6 Payment upon Termination of Service. An Award of Restricted Stock Units shall
only be payable while the Holder is an Employee, a Consultant or a member of the Board, as applicable; provided, however, that the Administrator, in its sole and absolute discretion may provide (in an Award Agreement or otherwise) that
a Restricted Stock Unit award may be paid subsequent to a Termination of Service in certain events, including a Change in Control, the Holder’s death, retirement or disability or any other specified Termination of Service. 

  
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 9.7 No Rights as a Stockholder. Unless otherwise determined by the
Administrator, a Holder who is awarded Restricted Stock Units shall possess no incidents of ownership with respect to the Shares represented by such Restricted Stock Units, unless and until the same are transferred to the Holder pursuant to the
terms of this Plan and the Award Agreement. 
 9.8 Dividend Equivalents. Subject to Section 10.2 hereof, the
Administrator may, in its sole discretion, provide that Dividend Equivalents shall be earned by a Holder of Restricted Stock Units based on dividends declared on the Common Stock, to be credited as of dividend payment dates during the period between
the date an Award of Restricted Stock Units is granted to a Holder and the maturity date of such Award. 
 ARTICLE 10. 

AWARD OF PERFORMANCE AWARDS, DIVIDEND EQUIVALENTS, STOCK 

PAYMENTS, DEFERRED STOCK, DEFERRED STOCK UNITS 

10.1 Performance Awards. 

(a) The Administrator is authorized to grant Performance Awards, including Awards of Performance Stock Units, to any Eligible Individual and
to determine whether such Performance Awards shall be Performance-Based Compensation. The value of Performance Awards, including Performance Stock Units, may be linked to any one or more of the Performance Criteria or other specific criteria
determined by the Administrator, in each case on a specified date or dates or over any period or periods determined by the Administrator. Performance Awards, including Performance Stock Unit awards may be paid in cash, Shares, or a combination of
cash and Shares, as determined by the Administrator. 
 (b) Without limiting Section 10.1(a) hereof, the Administrator may grant
Performance Awards to any Eligible Individual in the form of a cash bonus payable upon the attainment of objective Performance Goals, or such other criteria, whether or not objective, which are established by the Administrator, in each case on a
specified date or dates or over any period or periods determined by the Administrator. Any such bonuses paid to a Holder which are intended to be Performance-Based Compensation shall be based upon objectively determinable bonus formulas established
in accordance with the provisions of Article 5 hereof. 
 10.2 Dividend Equivalents. 

(a) Dividend Equivalents may be granted by the Administrator based on dividends declared on the Common Stock, to be credited as of dividend
payment dates during the period between the date an Award is granted to a Holder and the date such Award vests, is exercised, is distributed or expires, as determined by the Administrator. Such Dividend Equivalents shall be converted to cash or
additional shares of Common Stock by such formula and at such time and subject to such limitations as may be determined by the Administrator. 

(b) Notwithstanding the foregoing, no Dividend Equivalents shall be payable with respect to Options or Stock Appreciation Rights. 

  
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 10.3 Stock Payments. The Administrator is authorized to make Stock
Payments to any Eligible Individual. The number or value of Shares of any Stock Payment shall be determined by the Administrator and may be based upon one or more Performance Criteria or any other specific criteria, including service to the Company
or any Affiliate, determined by the Administrator. Shares underlying a Stock Payment which is subject to a vesting schedule or other conditions or criteria set by the Administrator will not be issued until those conditions have been satisfied.
Unless otherwise provided by the Administrator, a Holder of a Stock Payment shall have no rights as a Company stockholder with respect to such Stock Payment until such time as the Stock Payment has vested and the Shares underlying the Award have
been issued to the Holder. Stock Payments may, but are not required to, be made in lieu of base salary, bonus, fees or other cash compensation otherwise payable to such Eligible Individual. 

10.4 Deferred Stock. The Administrator is authorized to grant Deferred Stock to any Eligible Individual. The number of
shares of Deferred Stock shall be determined by the Administrator and may (but is not required to) be based on one or more Performance Criteria or other specific criteria, including service to the Company or any Affiliate, as the Administrator
determines, in each case on a specified date or dates or over any period or periods determined by the Administrator. Shares underlying a Deferred Stock award which is subject to a vesting schedule or other conditions or criteria set by the
Administrator will be issued on the vesting date(s) or date(s) that those conditions and criteria have been satisfied, as applicable. Unless otherwise provided by the Administrator, a Holder of Deferred Stock shall have no rights as a Company
stockholder with respect to such Deferred Stock until such time as the Award has vested and any other applicable conditions and/or criteria have been satisfied and the Shares underlying the Award have been issued to the Holder. 

10.5 Deferred Stock Units. The Administrator is authorized to grant Deferred Stock Units to any Eligible Individual. The
number of Deferred Stock Units shall be determined by the Administrator and may (but is not required to) be based on one or more Performance Criteria or other specific criteria, including service to the Company or any Affiliate, as the Administrator
determines, in each case on a specified date or dates or over any period or periods determined by the Administrator. Each Deferred Stock Unit shall entitle the Holder thereof to receive one share of Common Stock on the date the Deferred Stock Unit
becomes vested or upon a specified settlement date thereafter (which settlement date may (but is not required to) be the date of the Holder’s Termination of Service). Shares underlying a Deferred Stock Unit award which is subject to a vesting
schedule or other conditions or criteria set by the Administrator will not be issued until on or following the date that those conditions and criteria have been satisfied. Unless otherwise provided by the Administrator, a Holder of Deferred Stock
Units shall have no rights as a Company stockholder with respect to such Deferred Stock Units until such time as the Award has vested and any other applicable conditions and/or criteria have been satisfied and the Shares underlying the Award have
been issued to the Holder. 
 10.6 Term. The term of a Performance Award, Dividend Equivalent award, Stock Payment
award, Deferred Stock award and/or Deferred Stock Unit award shall be set by the Administrator in its sole discretion. 

  
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 10.7 Purchase Price. The Administrator may establish the purchase price of
a Performance Award, shares distributed as a Stock Payment award, shares of Deferred Stock or shares distributed pursuant to a Deferred Stock Unit award; provided, however, that value of the consideration shall not be less than the par
value of a Share, unless otherwise permitted by Applicable Law. 
 10.8 Termination of Service. A Performance Award,
Stock Payment award, Dividend Equivalent award, Deferred Stock award and/or Deferred Stock Unit award is distributable only while the Holder is an Employee, Director or Consultant, as applicable. The Administrator, however, in its sole discretion
may provide that the Performance Award, Dividend Equivalent award, Stock Payment award, Deferred Stock award and/or Deferred Stock Unit award may be distributed subsequent to a Termination of Service in certain events, including a Change in Control,
the Holder’s death, retirement or disability or any other specified Termination of Service. 
 ARTICLE 11. 

AWARD OF STOCK APPRECIATION RIGHTS 

11.1 Grant of Stock Appreciation Rights. 

(a) The Administrator is authorized to grant Stock Appreciation Rights to Eligible Individuals from time to time, in its sole discretion, on
such terms and conditions as it may determine consistent with the Plan. 
 (b) A Stock Appreciation Right shall entitle the Holder (or
other person entitled to exercise the Stock Appreciation Right pursuant to the Plan) to exercise all or a specified portion of the Stock Appreciation Right (to the extent then exercisable pursuant to its terms) and to receive from the Company an
amount determined by multiplying the difference obtained by subtracting the exercise price per Share of the Stock Appreciation Right from the Fair Market Value on the date of exercise of the Stock Appreciation Right by the number of Shares with
respect to which the Stock Appreciation Right shall have been exercised, subject to any limitations the Administrator may impose. Except as described in (c) below or in Section 14.2 hereof, the exercise price per Share subject to each
Stock Appreciation Right shall be set by the Administrator, but shall not be less than one hundred percent (100%) of the Fair Market Value on the date the Stock Appreciation Right is granted. 

(c) Notwithstanding the foregoing provisions of Section 11.1(b) hereof to the contrary, in the case of an Stock Appreciation Right that
is a Substitute Award, the price per Share of the Shares subject to such Stock Appreciation Right may be less than one hundred percent (100%) of the Fair Market Value per share on the date of grant; provided that the excess of:
(i) the aggregate Fair Market Value (as of the date such Substitute Award is granted) of the shares subject to the Substitute Award, over (ii) the aggregate exercise price thereof does not exceed the excess of: (x) the aggregate fair
market value (as of the time immediately preceding the transaction giving rise to the Substitute Award, such fair market value to be determined by the Administrator) of the shares of the predecessor entity that were subject to the grant assumed or
substituted for by the Company, over (y) the aggregate exercise price of such shares. 

  
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 11.2 Stock Appreciation Right Vesting. 

(a) The period during which the right to exercise, in whole or in part, a Stock Appreciation Right vests in the Holder shall be set by the
Administrator and the Administrator may determine that a Stock Appreciation Right may not be exercised in whole or in part for a specified period after it is granted. Such vesting may be based on service with the Company or any Affiliate, any of the
Performance Criteria or any other criteria selected by the Administrator. At any time after grant of a Stock Appreciation Right, the Administrator may, in its sole discretion and subject to whatever terms and conditions it selects, accelerate the
period during which a Stock Appreciation Right vests. 
 (b) No portion of a Stock Appreciation Right which is unexercisable at Termination
of Service shall thereafter become exercisable, except as may be otherwise provided by the Administrator either in the applicable Program or Award Agreement or by action of the Administrator following the grant of the Stock Appreciation Right,
including following a Termination of Service; provided, that in no event shall a Stock Appreciation Right become exercisable following its expiration, termination or forfeiture. 

11.3 Manner of Exercise. All or a portion of an exercisable Stock Appreciation Right shall be deemed exercised upon
delivery of all of the following to the stock administrator of the Company, or such other person or entity designated by the Administrator, or his, her or its office, as applicable: 

(a) A written or electronic notice complying with the applicable rules established by the Administrator stating that the Stock Appreciation
Right, or a portion thereof, is exercised. The notice shall be signed by the Holder or other person then entitled to exercise the Stock Appreciation Right or such portion of the Stock Appreciation Right; 

(b) Such representations and documents as the Administrator, in its sole discretion, deems necessary or advisable to effect compliance with
all applicable provisions of the Securities Act and any other federal, state or foreign securities laws or regulations. The Administrator may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such
compliance; and 
 (c) In the event that the Stock Appreciation Right shall be exercised pursuant to this Section 11.3 hereof by any
person or persons other than the Holder, appropriate proof of the right of such person or persons to exercise the Stock Appreciation Right. 

11.4 Stock Appreciation Right Term. The term of each Stock Appreciation Right (the “Stock Appreciation Right
Term”) shall be set by the Administrator in its sole discretion; provided, however, that the term shall not be more than ten (10) years from the date the Stock Appreciation Right is granted. The Administrator shall
determine the time period, including the time period following a Termination of Service, during which the Holder has the right to exercise the vested Stock Appreciation Rights, which time period may not extend beyond the expiration date of the Stock
Appreciation Right Term. Except as limited by the requirements of Section 409A of the Code and regulations and rulings thereunder, the Administrator may extend the Stock Appreciation Right Term of any outstanding Stock Appreciation Right, may

  
 24 

 
extend the time period during which vested Stock Appreciation Rights may be exercised following any Termination of Service of the Holder, and may amend any other term or condition of such Stock
Appreciation Right relating to such a Termination of Service. 
 11.5 Payment. Payment of the amounts payable with
respect to Stock Appreciation Rights pursuant to this Article 11 shall be in cash, Shares (based on its Fair Market Value as of the date the Stock Appreciation Right is exercised), or a combination of both, as determined by the Administrator. 

ARTICLE 12. 
 ADDITIONAL
TERMS OF AWARDS 
 12.1 Payment. The Administrator shall determine the methods by which payments by any Holder
with respect to any Awards granted under the Plan shall be made, including, without limitation: (a) cash or check, (b) Shares (including, in the case of payment of the exercise price of an Award, Shares issuable pursuant to the exercise of
the Award) or Shares held for such period of time as may be required by the Administrator in order to avoid adverse accounting consequences, in each case, having a Fair Market Value on the date of delivery equal to the aggregate payments required,
(c) delivery of a written or electronic notice that the Holder has placed a market sell order with a broker with respect to Shares then issuable upon exercise or vesting of an Award, and that the broker has been directed to pay a sufficient
portion of the net proceeds of the sale to the Company in satisfaction of the aggregate payments required; provided that payment of such proceeds is then made to the Company upon settlement of such sale, or (d) other form of legal
consideration acceptable to the Administrator. The Administrator shall also determine the methods by which Shares shall be delivered or deemed to be delivered to Holders. Notwithstanding any other provision of the Plan to the contrary, no Holder who
is a Director or an “executive officer” of the Company within the meaning of Section 13(k) of the Exchange Act shall be permitted to make payment with respect to any Awards granted under the Plan, or continue any extension of credit
with respect to such payment, with a loan from the Company or a loan arranged by the Company in violation of Section 13(k) of the Exchange Act. 

12.2 Tax Withholding. The Company or any Affiliate shall have the authority and the right to deduct or withhold, or
require a Holder to remit to the Company, an amount sufficient to satisfy federal, state, local and foreign taxes (including the Holder’s FICA or employment tax obligation) required by law to be withheld with respect to any taxable event
concerning a Holder arising as a result of the Plan. The Administrator may in its sole discretion and in satisfaction of the foregoing requirement allow a Holder to satisfy such obligations by any payment means described in Section 12.1 hereof,
including without limitation, by allowing such Holder to elect to have the Company withhold Shares otherwise issuable under an Award (or allow the surrender of Shares). The number of Shares which may be so withheld or surrendered shall be limited to
the number of Shares which have a Fair Market Value on the date of withholding or repurchase equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal, state, local and foreign

  
 25 

 
income tax and payroll tax purposes that are applicable to such supplemental taxable income. The Administrator shall determine the fair market value of the Shares, consistent with applicable
provisions of the Code, for tax withholding obligations due in connection with a broker-assisted cashless Option or Stock Appreciation Right exercise involving the sale of Shares to pay the Option or Stock Appreciation Right exercise price or any
tax withholding obligation. 
 12.3 Transferability of Awards. 

(a) Except as otherwise provided in Section 12.3(b) hereof: 

(i) No Award under the Plan may be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and
distribution or, subject to the consent of the Administrator, pursuant to a DRO, unless and until such Award has been exercised, or the Shares underlying such Award have been issued, and all restrictions applicable to such Shares have lapsed; 

(ii) No Award or interest or right therein shall be liable for the debts, contracts or engagements of the Holder or his successors in
interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, hypothecation, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy,
attachment, garnishment or any other legal or equitable proceedings (including bankruptcy) unless and until such Award has been exercised, or the Shares underlying such Award have been issued, and all restrictions applicable to such Shares have
lapsed, and any attempted disposition of an Award prior to the satisfaction of these conditions shall be null and void and of no effect, except to the extent that such disposition is permitted by clause (i) of this provision; and 

(iii) During the lifetime of the Holder, only the Holder may exercise an Award (or any portion thereof) granted to him under the Plan, unless
it has been disposed of pursuant to a DRO; after the death of the Holder, any exercisable portion of an Award may, prior to the time when such portion becomes unexercisable under the Plan or the applicable Program or Award Agreement, be exercised by
his personal representative or by any person empowered to do so under the deceased Holder’s will or under the then applicable laws of descent and distribution. 

(b) Notwithstanding Section 12.3(a) hereof, the Administrator, in its sole discretion, may determine to permit a Holder or a Permitted
Transferee of such Holder to transfer an Award other than an Incentive Stock Option (unless such Incentive Stock Option is to become a Non-Qualified Stock Option) to any one or more Permitted Transferees, subject to the following terms and
conditions: (i) an Award transferred to a Permitted Transferee shall not be assignable or transferable by the Permitted Transferee (other than to another Permitted Transferee of the applicable Holder) other than by will or the laws of descent
and distribution; (ii) an Award transferred to a Permitted Transferee shall continue to be subject to all the terms and conditions of the Award as applicable to the original Holder (other than the ability to further transfer the Award); and
(iii) the Holder (or transferring Permitted Transferee) and the Permitted Transferee shall execute any and all documents requested by the Administrator, including, 

  
 26 

 
without limitation documents to (A) confirm the status of the transferee as a Permitted Transferee, (B) satisfy any requirements for an exemption for the transfer under applicable
federal, state and foreign securities laws and (C) evidence the transfer. 
 (c) Notwithstanding Section 12.3(a) hereof, a Holder
may, in the manner determined by the Administrator, designate a beneficiary to exercise the rights of the Holder and to receive any distribution with respect to any Award upon the Holder’s death. A beneficiary, legal guardian, legal
representative, or other person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and any Program or Award Agreement applicable to the Holder, except to the extent the Plan, the Program and the Award
Agreement otherwise provide, and to any additional restrictions deemed necessary or appropriate by the Administrator. If the Holder is married or a domestic partner in a domestic partnership qualified under Applicable Law and resides in a community
property state, a designation of a person other than the Holder’s spouse or domestic partner, as applicable, as his or her beneficiary with respect to more than fifty percent (50%) of the Holder’s interest in the Award shall not be
effective without the prior written or electronic consent of the Holder’s spouse or domestic partner, as applicable. If no beneficiary has been designated or survives the Holder, payment shall be made to the person entitled thereto pursuant to
the Holder’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by a Holder at any time; provided that the change or revocation is filed with the Administrator
prior to the Holder’s death. 
 12.4 Conditions to Issuance of Shares. 

(a) Notwithstanding anything herein to the contrary, the Company shall not be required to issue or deliver any certificates or make any book
entries evidencing Shares pursuant to the exercise of any Award, unless and until the Board or the Committee has determined, with advice of counsel, that the issuance of such shares is in compliance with all Applicable Laws, and the Shares are
covered by an effective registration statement or applicable exemption from registration. In addition to the terms and conditions provided herein, the Board or the Committee may require that a Holder make such reasonable covenants, agreements, and
representations as the Board or the Committee, in its discretion, deems advisable in order to comply with any such laws, regulations, or requirements. 

(b) All Share certificates delivered pursuant to the Plan and all Shares issued pursuant to book entry procedures are subject to any
stop-transfer orders and other restrictions as the Administrator deems necessary or advisable to comply with Applicable Law. The Administrator may place legends on any Share certificate or book entry to reference restrictions applicable to the
Shares. 
 (c) The Administrator shall have the right to require any Holder to comply with any timing or other restrictions with respect to
the settlement, distribution or exercise of any Award, including a window-period limitation, as may be imposed in the sole discretion of the Administrator. 

  
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 (d) No fractional Shares shall be issued and the Administrator shall determine, in its sole
discretion, whether cash shall be given in lieu of fractional Shares or whether such fractional Shares shall be eliminated by rounding down. 

(e) Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator or required by any Applicable Law, the
Company shall not deliver to any Holder certificates evidencing Shares issued in connection with any Award and instead such Shares shall be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator).

 12.5 Forfeiture and Claw-Back Provisions. Pursuant to its general authority to determine the terms and conditions
applicable to Awards under the Plan, the Administrator shall have the right to provide, in an Award Agreement or otherwise, or to require a Holder to agree by separate written or electronic instrument, that: 

(a) (i) Any proceeds, gains or other economic benefit actually or constructively received by the Holder upon any receipt or exercise of the
Award, or upon the receipt or resale of any Shares underlying the Award, must be paid to the Company, and (ii) the Award shall terminate and any unexercised portion of the Award (whether or not vested) shall be forfeited, if (x) a
Termination of Service occurs prior to a specified date, or within a specified time period following receipt or exercise of the Award, or (y) the Holder at any time, or during a specified time period, engages in any activity in competition with
the Company, or which is inimical, contrary or harmful to the interests of the Company, as further defined by the Administrator or (z) the Holder incurs a Termination of Service for “cause” (as such term is defined in the sole
discretion of the Administrator, or as set forth in a written agreement relating to such Award between the Company and the Holder); and 

(b) All Awards (including any proceeds, gains or other economic benefit actually or constructively received by the Holder upon any receipt or
exercise of any Award or upon the receipt or resale of any Shares underlying the Award) shall be subject to the provisions of any claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with
the requirements of Applicable Law, including, without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated thereunder, to the extent set forth in such claw-back policy and/or in the
applicable Award Agreement. 
 12.6 Prohibition on Repricing. Subject to Section 14.2 hereof, the Administrator
shall not, without the approval of the stockholders of the Company, (i) authorize the amendment of any outstanding Option or Stock Appreciation Right to reduce its price per Share, or (ii) cancel any Option or Stock Appreciation Right in
exchange for cash or another Award when the Option or Stock Appreciation Right price per Share exceeds the Fair Market Value of the underlying Shares. Subject to Section 14.2 hereof, the Administrator shall have the authority, without the
approval of the stockholders of the Company, to amend any outstanding Award to increase the price per Share or to cancel and replace an Award with the grant of an Award having a price per Share that is greater than or equal to the price per Share of
the original Award. 

  
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 12.7 Leave of Absence. Unless the Administrator provides otherwise,
vesting of Awards granted hereunder shall be suspended during any unpaid leave of absence. A Holder shall not cease to be considered an Employee, Non-Employee Director or Consultant, as applicable, in the case of any (a) leave of absence
approved by the Company, (b) transfer between locations of the Company or between the Company and any of its Affiliates or any successor thereof, or (c) change in status (Employee to Director, Employee to Consultant, etc.), provided that
such change does not affect the specific terms applying to the Holder’s Award. 
 ARTICLE 13. 

ADMINISTRATION 

13.1 Administrator. The Committee (or another committee or a subcommittee of the Board or the Compensation Committee of
the Board assuming the functions of the Committee under the Plan) shall administer the Plan (except as otherwise permitted herein) and, unless otherwise determined by the Board, shall consist solely of two or more Non-Employee Directors appointed by
and holding office at the pleasure of the Board, each of whom is intended to qualify as both a “non-employee director” as defined by Rule 16b-3 of the Exchange Act or any successor rule, an “outside director” for purposes of
Section 162(m) of the Code and an “independent director” under the rules of any securities exchange or automated quotation system on which the Shares are listed, quoted or traded; provided that any action taken by the Committee
shall be valid and effective, whether or not members of the Committee at the time of such action are later determined not to have satisfied the requirements for membership set forth in this Section 13.l or otherwise provided in any charter of
the Committee. Except as may otherwise be provided in any charter of the Committee, appointment of Committee members shall be effective upon acceptance of appointment. Committee members may resign at any time by delivering written or electronic
notice to the Board. Vacancies in the Committee may only be filled by the Board. Notwithstanding the foregoing, (a) the full Board, acting by a majority of its members in office, shall conduct the general administration of the Plan with respect
to Awards granted to Non-Employee Directors and, with respect to such Awards, the terms “Administrator” and “Committee” as used in the Plan shall be deemed to refer to the Board and (b) the Board or Committee may delegate
its authority hereunder to the extent permitted by Section 13.6 hereof. 
 13.2 Duties and Powers of
Administrator. It shall be the duty of the Administrator to conduct the general administration of the Plan in accordance with its provisions. The Administrator shall have the power to interpret the Plan, the Program and the Award Agreement, and
to adopt such rules for the administration, interpretation and application of the Plan as are not inconsistent therewith, to interpret, amend or revoke any such rules and to amend any Program or Award Agreement; provided that the rights or
obligations of the Holder of the Award that is the subject of any such Program or Award Agreement are not affected materially and adversely by such amendment, unless the consent of the Holder is obtained or such amendment is otherwise permitted
under Section 14.10 hereof. Any such grant or award under the Plan need not be the same with respect to each Holder. Any such interpretations and rules with respect to Incentive Stock Options shall be consistent with the provisions of
Section 422 of the Code. In its sole discretion, the Board may at any time and from time to time exercise any and all rights and duties of the Committee under the Plan except with respect to 

  
 29 

 
matters which under Rule 16b-3 under the Exchange Act or any successor rule, or Section 162(m) of the Code, or any regulations or rules issued
thereunder, or the rules of any securities exchange or automated quotation system on which the Shares are listed, quoted or traded are required to be determined in the sole discretion of the Committee. 

13.3 Action by the Committee. Unless otherwise established by the Board or in any charter of the Committee, a majority
of the Committee shall constitute a quorum and the acts of a majority of the members present at any meeting at which a quorum is present, and acts approved in writing by all members of the Committee in lieu of a meeting, shall be deemed the acts of
the Committee. Each member of the Committee is entitled to, in good faith, rely or act upon any report or other information furnished to that member by any officer or other employee of the Company or any Affiliate, the Company’s independent
certified public accountants, or any executive compensation consultant or other professional retained by the Company to assist in the administration of the Plan. 

13.4 Authority of Administrator. Subject to the Company’s Bylaws, the Committee’s Charter and any specific
designation in the Plan, the Administrator has the exclusive power, authority and sole discretion to: 
 (a) Designate Eligible Individuals
to receive Awards; 
 (b) Determine the type or types of Awards to be granted to each Eligible Individual; 

(c) Determine the number of Awards to be granted and the number of Shares to which an Award will relate; 

(d) Determine the terms and conditions of any Award granted pursuant to the Plan, including, but not limited to, the exercise price, grant
price, or purchase price, any performance criteria, any restrictions or limitations on the Award, any schedule for vesting, lapse of forfeiture restrictions or restrictions on the exercisability of an Award, and accelerations or waivers thereof, and
any provisions related to non-competition and recapture of gain on an Award, based in each case on such considerations as the Administrator in its sole discretion determines; 

(e) Determine whether, to what extent, and pursuant to what circumstances an Award may be settled in, or the exercise price of an Award may
be paid in cash, Shares, other Awards, or other property, or an Award may be canceled, forfeited, or surrendered; 
 (f) Prescribe the form
of each Award Agreement, which need not be identical for each Holder; 
 (g) Decide all other matters that must be determined in connection
with an Award; 
 (h) Establish, adopt, or revise any rules and regulations as it may deem necessary or advisable to administer the Plan;

  
 30 

 (i) Interpret the terms of, and any matter arising pursuant to, the Plan, any Program or any
Award Agreement; 
 (j) Make all other decisions and determinations that may be required pursuant to the Plan or as the Administrator deems
necessary or advisable to administer the Plan; and 
 (k) Accelerate wholly or partially the vesting or lapse of restrictions of any Award
or portion thereof at any time after the grant of an Award, subject to whatever terms and conditions it selects and Sections 3.4 and 14.2(d) hereof. 

13.5 Decisions Binding. The Administrator’s interpretation of the Plan, any Awards granted pursuant to the Plan,
any Program, any Award Agreement and all decisions and determinations by the Administrator with respect to the Plan are final, binding, and conclusive on all parties. 

13.6 Delegation of Authority. To the extent permitted by Applicable Law, the Board or Committee may from time to time
delegate to a committee of one or more members of the Board or one or more officers of the Company the authority to grant or amend Awards or to take other administrative actions pursuant to Article 13; provided, however, that in no
event shall an officer of the Company be delegated the authority to grant awards to, or amend awards held by, the following individuals: (a) individuals who are subject to Section 16 of the Exchange Act, (b) Covered Employees, or
(c) officers of the Company (or Directors) to whom authority to grant or amend Awards has been delegated hereunder; provided, further, that any delegation of administrative authority shall only be permitted to the extent it is
permissible under Section 162(m) of the Code and Applicable Law. Any delegation hereunder shall be subject to the restrictions and limits that the Board or Committee specifies at the time of such delegation, and the Board may at any time
rescind the authority so delegated or appoint a new delegatee. At all times, the delegatee appointed under this Section 13.6 hereof shall serve in such capacity at the pleasure of the Board and the Committee. 

ARTICLE 14. 

MISCELLANEOUS PROVISIONS 

14.1 Amendment, Suspension or Termination of the Plan. Except as otherwise provided in this Section 14.1, the Plan
may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Board or the Committee. However, without approval of the Company’s stockholders given within twelve (12) months
before or after the action by the Administrator, no action of the Administrator may, except as provided in Section 14.2 hereof, (a) increase the limits imposed in Section 3.1 hereof on the maximum number of shares which may be issued
under the Plan, or (b) reduce the price per share of any outstanding Option or Stock Appreciation Right granted under the Plan, or (c) cancel any Option or Stock Appreciation Right in exchange for cash or another Award when the Option or
Stock Appreciation Right price per share exceeds the Fair Market Value of the underlying Shares. Except as provided in Section 14.10 hereof, no amendment, suspension or termination of the Plan shall, without the consent of the Holder,
materially and 

  
 31 

 
adversely affect any rights or obligations under any Award theretofore granted or awarded, unless the Award itself otherwise expressly so provides. No Awards may be granted or awarded during any
period of suspension or after termination of the Plan, and in no event may any Award be granted under the Plan after the tenth (10th) anniversary of the Effective Date. 

14.2 Changes in Common Stock or Assets of the Company, Acquisition or Liquidation of the Company and Other Corporate
Events. 
 (a) In the event of any stock dividend, stock split, combination or exchange of shares, merger, consolidation or other
distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the shares of the Company’s stock or the share price of the Company’s stock other than an Equity Restructuring, the
Administrator may make equitable adjustments, if any, to reflect such change with respect to (i) the aggregate number and kind of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in
Section 3.1 hereof on the maximum number and kind of shares which may be issued under the Plan, and adjustments of the Award Limit); (ii) the number and kind of shares of Common Stock (or other securities or property) subject to
outstanding Awards; (iii) the number and kind of shares of Common Stock (or other securities or property) for which grants are subsequently to be made to new and continuing Non-Employee Directors pursuant to Section 4.6 hereof;
(iv) the terms and conditions of any outstanding Awards (including, without limitation, any applicable performance targets or criteria with respect thereto); and (v) the grant or exercise price per share for any outstanding Awards under
the Plan. Any adjustment affecting an Award intended as Performance-Based Compensation shall be made consistent with the requirements of Section 162(m) of the Code. 

(b) In the event of any transaction or event described in Section 14.2(a) hereof or any unusual or nonrecurring transactions or events
affecting the Company, any Affiliate of the Company, or the financial statements of the Company or any Affiliate, or of changes in Applicable Law, the Administrator, in its sole discretion, and on such terms and conditions as it deems appropriate,
either by the terms of the Award or by action taken prior to the occurrence of such transaction or event and either automatically or upon the Holder’s request, is hereby authorized to take any one or more of the following actions whenever the
Administrator determines that such action is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any Award under the Plan, to facilitate such
transactions or events or to give effect to such changes in laws, regulations or principles: 
 (i) To provide for either
(A) termination of any such Award in exchange for an amount of cash and/or other property, if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Holder’s rights (and, for the
avoidance of doubt, if as of the date of the occurrence of the transaction or event described in this Section 14.2 the Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization
of the Holder’s rights, then such Award may be terminated by the Company without payment) or (B) the replacement of such Award with other rights or property selected by the Administrator in its sole discretion having an aggregate value not
exceeding the amount that could have been attained upon the exercise of such Award or realization of the Holder’s rights had such Award been currently exercisable or payable or fully vested; 

  
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 (ii) To provide that such Award be assumed by the successor or survivor corporation, or a parent
or subsidiary thereof, or shall be substituted for by similar options, rights or awards covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares
and prices; 
 (iii) To make adjustments in the number and type of shares of the Company’s stock (or other securities or property)
subject to outstanding Awards, and in the number and kind of outstanding Restricted Stock or Deferred Stock and/or in the terms and conditions of (including the grant or exercise price), and the criteria included in, outstanding Awards and Awards
which may be granted in the future; 
 (iv) To provide that such Award shall be exercisable or payable or fully vested with respect to all
shares covered thereby, notwithstanding anything to the contrary in the Plan or the applicable Program or Award Agreement; and 
 (v) To
provide that the Award cannot vest, be exercised or become payable after such event. 
 (c) In connection with the occurrence of any Equity
Restructuring, and notwithstanding anything to the contrary in Sections 14.2(a) and 14.2(b) hereof: 
 (i) The number and type of
securities subject to each outstanding Award and the exercise price or grant price thereof, if applicable, shall be equitably adjusted; and/or 

(ii) The Administrator shall make such equitable adjustments, if any, as the Administrator in its discretion may deem appropriate to reflect
such Equity Restructuring with respect to the aggregate number and kind of shares that may be issued under the Plan (including, but not limited to, adjustments of the limitations in Section 3.1 hereof on the maximum number and kind of shares
which may be issued under the Plan, and adjustments of the Award Limit). The adjustments provided under this Section 14.2(c) shall be nondiscretionary and shall be final and binding on the affected Holder and the Company. 

The adjustments provided under this Section 14.2(c) shall be nondiscretionary and shall be final and binding on the affected Holder and
the Company. 
 (d) Change in Control. 

(i) Notwithstanding any other provision of the Plan, in the event of a Change in Control, each outstanding Award shall be assumed or an
equivalent Award substituted by the successor corporation or a parent or subsidiary of the successor corporation, in each case, as determined by the Administrator. 

  
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 (ii) In the event that the successor corporation in a Change in Control and its parents and
subsidiaries refuse to assume or substitute for any Award in accordance with Section 14.2(d)(i) hereof, each such non-assumed/substituted Award shall become fully vested and, as applicable, exercisable and shall be deemed exercised, immediately
prior to the consummation of such transaction, and all forfeiture restrictions on any or all such Awards shall lapse at such time. If an Award vests and, as applicable, is exercised in lieu of assumption or substitution in connection with a Change
in Control, the Administrator shall notify the Holder of such vesting and any applicable exercise period, and the Award shall terminate upon the Change in Control. For the avoidance of doubt, if the value of an Award that is terminated in connection
with this Section 14.2(d)(ii) is zero or negative at the time of such Change in Control, such Award shall be terminated upon the Change in Control without payment of consideration therefor. 

(iii) Notwithstanding anything to the contrary, in the event that, within the twelve (12) month period immediately following a Change in
Control, a Participant experiences a Termination of Service by the Company for other than Cause or by a Participant for Good Reason, then the vesting and, if applicable, exercisability of that number of Shares equal to one hundred percent
(100%) of the then-unvested Shares subject to the outstanding Awards held by such Participant shall accelerate upon the date of such Termination of Service. 

(e) The Administrator may, in its sole discretion, include such further provisions and limitations in any Award, agreement or certificate, as
it may deem equitable and in the best interests of the Company that are not inconsistent with the provisions of the Plan. 
 (f) With
respect to Awards which are granted to Covered Employees and are intended to qualify as Performance-Based Compensation, no adjustment or action described in this Section 14.2 or in any other provision of the Plan shall be authorized to the
extent that such adjustment or action would cause such Award to fail to so qualify as Performance-Based Compensation, unless the Administrator determines that the Award should not so qualify. No adjustment or action described in this
Section 14.2 or in any other provision of the Plan shall be authorized to the extent that such adjustment or action would cause the Plan to violate Section 422(b)(1) of the Code. Furthermore, no such adjustment or action shall be
authorized to the extent such adjustment or action would result in short-swing profits liability under Section 16 of the Exchange Act or violate the exemptive conditions of Rule 16b-3 of the Exchange Act unless the Administrator determines that
the Award is not to comply with such exemptive conditions. 
 (g) The existence of the Plan, the Program, the Award Agreement and the
Awards granted hereunder shall not affect or restrict in any way the right or power of the Company or the stockholders of the Company to make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital
structure or its business, any merger or consolidation of the Company, any issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the
Common Stock or the rights thereof or which are convertible into or exchangeable for Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or
proceeding, whether of a similar character or otherwise. 

  
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 (h) In the event of any pending stock dividend, stock split, combination or exchange of shares,
merger, consolidation or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other change affecting the Shares or the share price of the Common Stock including any Equity Restructuring, for reasons of
administrative convenience, the Company in its sole discretion may refuse to permit the exercise of any Award during a period of thirty (30) days prior to the consummation of any such transaction. 

14.3 Approval of Plan by Stockholders. The Plan will be submitted for the approval of the Company’s stockholders
within twelve (12) months after the date of the Board’s initial adoption of the Plan. Awards may be granted or awarded prior to such stockholder approval; provided that such Awards shall not be exercisable, shall not vest and the
restrictions thereon shall not lapse and no Shares shall be issued pursuant thereto prior to the time when the Plan is approved by the stockholders; and provided, further, that if such approval has not been obtained at the end of said
twelve (12) month period, all Awards previously granted or awarded under the Plan shall thereupon be canceled and become null and void. 

14.4 No Stockholders Rights. Except as otherwise provided herein, a Holder shall have none of the rights of a
stockholder with respect to Shares covered by any Award until the Holder becomes the record owner of such Shares. 
 14.5
Paperless Administration. In the event that the Company establishes, for itself or using the services of a third party, an automated system for the documentation, granting or exercise of Awards, such as a system using an internet website or
interactive voice response, then the paperless documentation, granting or exercise of Awards by a Holder may be permitted through the use of such an automated system. 

14.6 Effect of Plan upon Other Compensation Plans. The adoption of the Plan shall not affect any other compensation or
incentive plans in effect for the Company or any Affiliate. Nothing in the Plan shall be construed to limit the right of the Company or any Affiliate: (a) to establish any other forms of incentives or compensation for Employees, Directors or
Consultants of the Company or any Affiliate, or (b) to grant or assume options or other rights or awards otherwise than under the Plan in connection with any proper corporate purpose including without limitation, the grant or assumption of
options in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership, limited liability company, firm or association. 

14.7 Compliance with Laws. The Plan, the granting and vesting of Awards under the Plan and the issuance and delivery of
Shares and the payment of money under the Plan or under Awards granted or awarded hereunder are subject to compliance with all Applicable Law, and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of
counsel for the Company, be necessary or advisable in connection therewith. Any securities delivered under the Plan shall be subject to such restrictions, and the person acquiring such securities shall, if requested by the Company, provide such
assurances and representations to the Company as the Company may deem necessary or desirable to assure compliance with all Applicable Law. To the extent permitted by Applicable Law, the Plan and Awards granted or awarded hereunder shall be deemed
amended to the extent necessary to conform to such Applicable Law. 

  
 35 

 14.8 Titles and Headings, References to Sections of the Code or Exchange
Act. The titles and headings of the Sections in the Plan are for convenience of reference only and, in the event of any conflict, the text of the Plan, rather than such titles or headings, shall control. References to sections of the Code or the
Exchange Act shall include any amendment or successor thereto. 
 14.9 Governing Law. The Plan and any agreements
hereunder shall be administered, interpreted and enforced under the internal laws of the State of Delaware without regard to conflicts of laws thereof or of any other jurisdiction. 

14.10 Section 409A. To the extent that the Administrator determines that any Award granted under the Plan is
subject to Section 409A of the Code, the Program pursuant to which such Award is granted and the Award Agreement evidencing such Award shall incorporate the terms and conditions required by Section 409A of the Code. To the extent
applicable, the Plan, the Program and any Award Agreements shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation
any such regulations or other guidance that may be issued after the Effective Date. Notwithstanding any provision of the Plan to the contrary, in the event that following the Effective Date the Administrator determines that any Award may be subject
to Section 409A of the Code and related Department of Treasury guidance (including such Department of Treasury guidance as may be issued after the Effective Date), the Administrator may adopt such amendments to the Plan and the applicable
Program and Award Agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Administrator determines are necessary or appropriate to (a) exempt
the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code and related Department of Treasury
guidance and thereby avoid the application of any penalty taxes under such Section. 
 14.11 No Rights to Awards. No
Eligible Individual or other person shall have any claim to be granted any Award pursuant to the Plan, and neither the Company nor the Administrator is obligated to treat Eligible Individuals, Holders or any other persons uniformly. 

14.12 Unfunded Status of Awards. The Plan is intended to be an “unfunded” plan for incentive compensation.
With respect to any payments not yet made to a Holder pursuant to an Award, nothing contained in the Plan or any Program or Award Agreement shall give the Holder any rights that are greater than those of a general creditor of the Company or any
Affiliate. 
 14.13 Indemnification. To the extent allowable pursuant to Applicable Law, each member of the Committee
or of the Board and any officer or other employee to whom authority to administer any component of the Plan is delegated shall be indemnified and held harmless by the Company from any loss, cost, liability, or expense that may be imposed upon

  
 36 

 
or reasonably incurred by such member in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason
of any action or failure to act pursuant to the Plan and against and from any and all amounts paid by him or her in satisfaction of judgment in such action, suit, or proceeding against him or her; provided he or she gives the Company an
opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to
which such persons may be entitled pursuant to the Company’s Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them harmless. 

14.14 Relationship to other Benefits. No payment pursuant to the Plan shall be taken into account in determining any
benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Affiliate except to the extent otherwise expressly provided in writing in such other plan or an agreement
thereunder. 
 14.15 Expenses. The expenses of administering the Plan shall be borne by the Company and its
Affiliates. 

  
 37

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