Document:

EX-10.2

 Exhibit 10.2 

SUBLICENSE AGREEMENT 

This Sublicense Agreement (hereinafter referred to as this “AGREEMENT”) effective as of 11 July 2012 (the “Effective Date”), is
made and entered into by and between ACS Biomarker B.V., a corporation organized and duly existing under the laws of the Netherlands, having its office at Oxfordlaan 70, 6229 EV Maastricht, (hereinafter referred to as “ACSB”) and BG
Medicine, Inc., a Delaware corporation having its registered office at 610 N. Lincoln Street, Waltham, MA 02451 (hereinafter referred to as “BGM”). 
 WHEREAS 
  

	I.	ACSB is a company involved in the discovery and development of biomarkers that improve the prognosis and management of cardiac disease; 

 

	II.	BGM is a company involved in the discovery, development and commercialization of diagnostic tests based on biomarkers; 

 

	III.	The Parties have entered into a Product License and Collaboration Agreement and Licensing Addendum Nos. 1 and 2 (collectively “the Product License Agreement”)
on 4 May 2007. 

  

	IV.	The Parties wish to enter into a novation to replace the Product License Agreement with this Sublicense Agreement. 

NOW, THEREFORE, in consideration of the mutual premises and covenants herein contained and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, THE PARTIES HEREBY AGREE AS FOLLOWS: 
 ARTICLE 1

 DEFINITIONS AND INTERPRETATION 
 Definitions 
  

	1.1	For the purpose of this AGREEMENT, each of the following terms shall have the respective meanings set forth below: 

 

	 	(a)	“ACSB Existing IP” shall mean all rights of ACSB in any Intellectual Property existing as of the Effective Date relating to Galectin-3
(“GAL-3”) or Thrombospondin-2 (“TSP-2”) and/or any and all products and services using or relating to GAL3 or TSP2 as set forth in EXHIBIT A to this AGREEMENT. EXHIBIT A may be amended by written agreement of the
Parties. 

  

	 	(b)	 “Affiliate” shall mean, any person, limited liability company, corporation, firm, partnership, joint venture or other business
entity of a Party which directly or indirectly controls, is controlled by or is under common control with such Party as the case may be. For purposes of this definition, “control” means (a) to possess

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  

	 	
the power to direct the management or policies of such company or other business entity, through ownership or voting securities or by contracts relating to voting rights or corporate governance,
or (b) direct or indirect beneficial ownership of more than fifty percent (50%) of the voting share capital in such company or other business entity. 

 

	 	(c)	“BGM Existing IP” shall mean the Intellectual Property owned or Controlled by BGM existing as at the Effective Date as set forth in
EXHIBIT B to this AGREEMENT. EXHIBIT B may be amended by written agreement of the Parties. 

  

	 	(d)	“Biomed Booster” shall mean Biomed Booster B.V., a corporation organized and duly existing under the laws of the Netherlands, having its
registered office in Oxfordlaan 70 (6229 EV) Maastricht, the Netherlands. 

  

	 	(e)	“Combination Product” shall mean a product that includes at least one Subject Product and one or more other products (“Other
Products”) that together with such Subject Product constitute the active components of such product, whereby the product is approved by the Regulatory Authority as a product whereby the combination of the Subject Product and the Other Products
constitute the active components of such product and whereby only the joined activity of the combination of Subject Product and Other Products contribute to the specific value of such product as determined and approved by the Regulatory Authority.

  

	 	(f)	“Commercially Reasonably Efforts” shall mean efforts and resources normally used by a Party for a product owned by it or to which it has
exclusive rights, which is of similar market potential at a similar stage in its development or product life, taking into account issues of safety and efficacy, product profile, the competitiveness of the marketplace, the proprietary position of the
product, the regulatory and reimbursement structure involved, the profitability of the applicable products, and other relevant factors. 

  

	 	(g)	“Confidential Information” shall mean all trade secrets, proprietary information, know-how, data, designs, specifications, processes, customer
lists and other technical or business information (and any tangible evidence, record or representation thereof), including without limitation any idea, improvement, invention, innovation, development, concept, technical data, design, formula,
device, pattern, sequence, method, process, composition of matter, product specification or design, plan for a new or revised product, sample, compilation of information, or work in process, or parts thereof, and any and all revisions and
improvements relating to any of the foregoing (in each case whether or not reduced to tangible form). 

  

	 	(h)	“First Commercial Sale” of a Subject Product shall mean the first sale of such Subject Product by BGM, its Affiliate or its Third
Party-Sublicensee(s), for end use or consumption, after all required Regulatory Approvals have been granted by the applicable Regulatory Authorities. 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
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	 	(i)	“GAAP” shall mean U.S. generally accepted accounting principles, consistently applied. 

 

	 	(j)	“Implementation Plan” shall have the meaning at set forth in Section 3.01 of this AGREEMENT. 

 

	 	(k)	“Intellectual Property” shall mean all patents, patent applications, and the right to apply for patents. 

 

	 	(l)	“Marker” shall mean a biochemical characteristic that is objectively measured and evaluated as an indicator of normal biologic or pathogenic
processes or pharmacological responses to a therapeutic intervention. 

  

	 	(m)	“Net Sales” shall mean, with respect to a particular Subject Product, the actual gross amount invoiced by BGM or its Affiliates for commercial
sales of such Subject Product after deducting, in accordance with GAAP, the following: 

  

	 	(i)	trade, cash and quantity discounts reasonably consistent with industry standards; 

 

	 	(ii)	credits or allowances for damaged or spoiled product, returns, recalls or rejections of products, including allowance for breakage or spoilage;

  

	 	(iii)	sales, value added, excise or other direct taxes, and freight, postage, shipping and transportation insurance charges and additional transportation, custom duties, and
other governmental charges on the Subject Product; 

  

	 	(iv)	chargebacks, rebates or similar payments or credits directly related to the Subject Product consistent with reasonable industry standards granted to managed health care
organizations, wholesalers, distributors, buying groups, retailers, health care insurance carriers, pharmacy benefit management companies, health maintenance organizations or other institutions or health care organizations or to federal,
state/provincial, local and other governments, their agencies and purchasers and reimbursers; and 

  

	 	(v).	any bad debts, which shall mean accounts receivable of BGM and its Affiliates arising from the aforesaid sales of Subject Products which have not been paid within 120
days after the due date and which BGM has made commercially reasonable efforts to collect upon; provided, however, that if any bad debt is subsequently collected, then, and in such event, the amount thereafter collected on account of such bad debt
shall, upon collection, be included in BGM’s Net Sales for the period collected. 

  

	 	(vi)	 Sales or other transfers between BGM and its Affiliates shall be excluded from the computation of Net Sales and no payments will be payable on such
sales or transfers except where such Affiliates are end users, but Net 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 3 -

	 	
Sales shall include the subsequent sales to Third Parties by such Affiliates. Where an Affiliate is the end user, Net Sales shall be deemed to be equal to the average per-unit price charged to
Third Parties for the same Subject Product during the relevant calendar half-year multiplied by the number of units sold or transferred to the Affiliate during such calendar half-year. 

 

	 	(n)	“Progress Reports” shall mean the written reports provided by BGM to ACSB at the end of at least every calendar quarter about the progress under
the Implementation Plan. 

  

	 	(o)	“Regulatory Approval” means all approvals and clearances of Regulatory Authorities (including where applicable pricing and reimbursement
approvals required for marketing authorization), product and/or establishment licenses, registrations or authorizations necessary for the manufacture, use, storage, import, export, transport and marketing and/or sale of a Subject Product in a
particular jurisdiction. 

  

	 	(p)	“Regulatory Authority” shall mean the FDA in the U.S., and the EMA or any agency in the European Union and any health regulatory authority(ies)
in any other country(ies) that is equivalent to the FDA and holds responsibility for granting Regulatory Approval for a Subject Product in such country(ies), and any successor(s) thereto having substantially the same functions.

  

	 	(q)	“Royalty Statement” shall have the meaning set forth in Section 2.02(h) of this AGREEMENT. 

 

	 	(r)	“Subject Products” shall mean any products (whole or partly) based on any of the ACSB Existing IP and/or BGM-Existing IP including any and all
current and future products and services, including Markers, diagnostic tests and testing services and the like, using or relating to Gal-3 or TSP-2. 

  

	 	(s)	“Sublicense Non-Royalty Payments” shall mean any payments received by or due to BGM from Sublicensees as consideration for the grant of a
Sublicense, including without limitation, license or sublicense fees, technology fees, milestone payments and license or sublicense maintenance fees, but excluding amounts received by BGM as Sublicense Royalty Payments, and/or Sublicense Non-Royalty
Payments in consideration for the grant of BGM or an Affiliate debt or equity, or upon sale of BGM or the substantial portion of BGM’s assets to which this AGREEMENT relates subject to the acquirer of BGM or the substantial portion of
BGM’s assets to which this AGREEMENT relates assuming full responsibility for the compliance of the terms and conditions of this AGREEMENT. 

  

	 	(t)	“Sublicense Royalty Payments” shall mean payments received by BGM from Sublicensees as consideration for the grant of such sublicense that are
based on Net Sales of Subject Products by such Sublicensee. 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
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	 	(u)	“Sublicense” shall mean a sublicense to the ACSB Existing IP and/or the BGM Existing IP granted by BGM to a Third Party, as well as any
sublicense granted by such Third Party Sublicensee. 

  

	 	(v)	“Sublicensee” shall mean any Third Party granted a Sublicense 

 

	 	(w)	“Sublicensing Income” shall mean with respect to any particular ASCB Existing IP and/or BGM Existing IP all Sublicense Non-Royalty Payments and
Sublicense Royalty Payments received by BGM under such ACSB Existing IP and/or BGM Existing IP. 

  

	 	(x)	“Third Party(ies)” shall mean a person who or which is neither a Party nor an Affiliate of a Party. 

 

	 	(y)	“University” shall mean the University of Maastricht. 

 

	 	(z)	“Valid Claim” means a claim of an issued and unexpired patent, which has not been revoked or held unenforceable or invalid by a decision of a
court or other governmental agency of competent jurisdiction, and which has not been disclaimed or surrendered through reissue or disclaimer. 

 Interpretation 
  

	1.2	In this AGREEMENT, unless the context otherwise requires: 

  

	 	(a)	references to this AGREEMENT or any other document include this AGREEMENT or such other document as varied, modified or supplemented in any manner from time to time;

  

	 	(b)	ACSB and BGM are referred to individually as “Party” and collectively as “Parties”; 

 

	 	(c)	references to any party shall, where relevant, be deemed to be references to or to include, as appropriate, their respective permitted successors, assigns or
transferees; 

  

	 	(d)	references to recitals, clauses and schedules and sub-divisions of them are references to the recitals and clauses of, and schedules to, this AGREEMENT and
sub-divisions of them respectively; 

  

	 	(e)	references to any act or law include references to such act or law as amended or extended on or before the date of this AGREEMENT and any subordinate legislation made
from time to time under it; 

  

	 	(f)	references to a “person” include any individual, company, corporation, firm, partnership, joint venture, foundation, association, organisation, institution,
trust or agency, whether or not having a separate legal personality; 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 5 -

	 	(g)	headings are inserted for convenience only and shall be ignored in construing this AGREEMENT; 

 

	 	(h)	references to “including” shall not be construed restrictively but shall be construed as meaning “including, without limitation or prejudice to the
generality of the foregoing”; and 

  

	 	(i)	references to words importing the singular will include the plural and vice versa and references to words importing one gender will include both genders.

 ARTICLE 2 
 SUBLICENSE GRANT AND ROYALTIES 
 Section 2.01Sublicense
Grant. 
 ACSB hereby grants to BGM, a sublicense under the ACSB Existing IP on the following terms: 

(a) Exclusivity. The sublicense granted under this AGREEMENT shall be exclusive, even as to ACSB provided, however,
that ACSB, Biomed Booster, the University and each of their respective Affiliates shall have a limited non-exclusive license, without the right to grant sublicenses, to use any of the ACSB Existing IP solely for internal research and teaching
purposes and explicitly excluding clinical trials, 
 (b) Field of Use. Thesublicense granted under this AGREEMENT
shall entitle BGM to use and exploit the ACSB Existing IP for any purpose. 
 (c) Term. Thesublicense granted under
this AGREEMENT shall be for the Term as set forth in Section 7.01 in this AGREEMENT. 
 (d) Sublicensing. The
sublicense granted under this AGREEMENT shall include the right to grant sublicenses to any of the rights of BGM. 
 (e)
Territory. The sublicense shall be valid worldwide. 
 (f) Royalties. BGM shall pay ACSB royalties
with respect to the use of the ACSB Existing IP on the terms set forth in Section 2,02 below. 
 For the sake of clarity,
ACSB and BGM hereby acknowledge that the Sublicense grant is consecutive to such grant under the Product License Agreement which is replaced hereby and no intervening period of time exists between the grants provided in the Product License Agreement
and this AGREEMENT. 
 Section 2.02 Royalties 

(a) Royalties: The following royalties shall be payable by BGM to ACSB for the grant of the sublicense under this AGREEMENT:

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 6 -

 (i) Royalty or Net Sales equal to [***] of the Net Sales from Subject
Products. 
 (ii) Royalty on Sublicensing Income equal to [***] of any and all Sublicensing Income
received by BGM from the Third Party Sublicensee for Subject Products. 
 (b) Royalties on Net Sales shall accrue
as of the date of First Commercial Sale of such Subject Product and shall continue and accrue until the expiration of the last to expire Valid Claim relating to such Subject Product. Thereafter, BGM shall be relieved of any payment of Royalty on Net
Sales with respect to such Subject Product. 
 (c) Royalty on Sublicensing Income shall accrue as of the date BGM
first receives Sublicensing Income for such Subject Product and shall continue and accrue as long as BGM continues to receive Sublicensing Income for such Subject Product. Thereafter, BGM shall be relieved of any payment of Royalty on Sublicensing
Income with respect to such Subject Product. 
 (d) Samples, Donation, Clinical Trials No Royalties shall accrue on
the disposition of reasonable quantities of Subject Products by BGM, Affiliates or Sublicensees as samples (promotion or otherwise), donations (for example, to non-profit institutions or government agencies) or for pre-clinical studies or clinical
trials. 
 (e) Affiliate Sales. In the event that BGM transfers Subject Products to one of its Affiliates, there
shall be no royalty due at the time of transfer. Subsequent sales of Subject Products by the Affiliate to end users (which are not Sublicensees) shall be reported as Net Sales hereunder by BGM. 

(f) Combination Products. The Parties shall enter into good faith negotiations to determine the calculation of royalty
payments in the event BGM obtains Regulatory Approval by a Regulatory Authority for a Combination Product comprising a Subject Product as one of the active ingredients and such Combination Product is sold. 

(g) Royalty Statement Records and Audit. Within [***] days after the end of each calendar quarter BGM shall furnish to ACSB
a statement for the calendar quarter showing on a country by country basis and Subject Product by Subject Product basis (a) the gross sales of all Subject Products sold by BGM, Affiliates and/or each of the Third-Party Sublicensees during such
calendar quarter, (b) the Net Sales and the Sublicensing Income connected with such gross sales, (c) the Royalty on Net Sales and the Royalty on Sublicensing Income due or payable to ACSB during such calendar quarter and the detailed
calculation of the Royalty on Net Sales and the Royalty on Sublicensing Income which have accrued based on the Net Sales and/or Sublicensing Income (each such statement, a “Royalty Statement). 

BGM shall preserve, and shall cause its Affiliates to preserve, all books and records relevant to the preparation of each Royalty
Statement for a period of at least five years, and BGM shall cause its and Third Party-Sublicensees to preserve all books and records relevant to the preparation of each Royalty Statement for a period of at least three years, after the delivery of
such Royalty Statement to ACSB. 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 7 -

 Upon at least [***] days prior written request of ACSB to BGM and not more than once in each
calendar year, BGM shall permit ACSB and/or an independent certified public accounting firm of nationally recognized standing, selected by ACSB and reasonably acceptable to BGM, at ACSB’s expense, to have access during normal business hours to
such records of BGM and its Affiliates and Third-Party Sublicensees as may be reasonably necessary (including the underlying agreements between BGM and the Third Party-Sublicensees) to verify the accuracy of the Royalty Statements hereunder for any
calendar year ending not more than [***] months prior to the date of such request, provided that ACSB shall not be entitled to audit such records for the same period of time more than once. If such accounting firm concludes that additional Royalties
were owed during such period, BGM shall remit to ACSB within [***] days of the date ACSB delivers to BGM such accounting firm’s written report so concluding: (a) the amount of such additional Royalties; and (b) interest on the amounts
overdue of such underpayment In the event such accounting firm concludes that amounts were overpaid by BGM during such period, BGM shall have a credit against future Royalties payable to ACSB in the amount of such overpayment, provided, however;
that BGM may have an independent certified public accounting firm of nationally recognized standing, selected by BGM and reasonably acceptable to ACSB, at BGM’s expense, confirm the results of the audit conducted by ACSB’s accounting firm.
The fees charged by ACSB’s accounting firm shall be paid by ACSB; provided, however, if an error in favour of ACSB of more than [***] of the Royalties due hereunder for the period being reviewed is discovered, then BGM shall pay the reasonable
fees and expenses charged by such accounting firm. ACSB shall treat all financial Information as confidential, and shall cause its accounting firm to retain all such financial information in confidence, 

(h) Timing and Method of Payment. BGM shall pay ACSB any amounts due with respect to a particular calendar quarter by wire
transfer to a bank account designated by ACSB within [***] following delivery of the Royalty Statement for such calendar quarter. To the extent any amounts due are to be offset against any prepayments of royalties that BGM shall have made but
explicitly limited to the Royalty Prepayment provided in Section 2.03, BGM shall, in lieu of paying such amounts, send ACSB written notice of such offset. 
 (i) Payment Exchange Rate. All payments to ACSB under this AGREEMENT shall be made in Euros unless otherwise agreed in writing by the Parties, In the case of sales outside the United States,
the rate of exchange to be used in computing Net Sales and Sublicensing Income shall be calculated monthly in accordance with GARP and based on the conversion rates published in the Wall Street Journal, Eastern edition (if available). 

(j) Tax Withholding. For so long as ACSB is domiciled in The Netherlands and BGM is domiciled in the United States of
America, all sums payable under or by virtue of this AGREEMENT and to be received by ACSB shall be free from any deduction by any authority other than government authorities of The Netherlands in respect of taxes, import duties, or other charges and
except for those withholding taxes (and other 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 8 -

 
deductible taxes in The Netherlands) payable by law in The Netherlands which ACSB (in accordance with the Double Tax Treaty between The Netherlands and the US) can recover from the Dutch Tax
authorities, in which case BGM shall provide all necessary assistance and shall make available to ACSB the original tax receipts thereof promptly upon payment. 
 (k) Exchange Controls. Notwithstanding any other provision of this AGREEMENT, if at any time legal restrictions prevent the prompt remittance of part or all of the payments set forth above
in any country, payment shall be made through such lawful means or methods as the Parties may agree. When in any country the law or regulations prohibit both the transmittal and deposit of Royalties on Net Sales in such a country, royalty payments
shall be suspended for as long as such prohibition is in effect (and such suspended payments shall not accrue interest), and, promptly after such prohibition ceases to be in effect, all royalties or other payments that BGM would have been obligated
to transmit or deposit, but for the prohibition, shall be deposited or transmitted, as the case may be, to the extent allowable (with any interest earned on such suspended royalties which were placed in an interest-bearing bank account in that
country, less any transactional costs). If the royalty rates specified in this AGREEMENT should exceed the permissible rate established in any country, the royalty rate for sales in such country shall be adjusted to the highest legally permissible
or government-approved rate. 
 Section 2.03 Royalty Prepayment. ACSB hereby recognizes that BGM has
previously made and ACSB has received a Royalty Prepayment of $[***] as provided in Section [***] of the Product License Agreement. The Parties agree that as of the Effective Date a balance of $[***] exists and can be applied by BGM to any royalty
payments due under Section 2.02. 
 ARTICLE 3 

IMPLEMENTATION PLAN: EXPLOITATION OF ACSB EXISTING IP AND 

COMMERCIALIZATION OF SUBJECT PRODUCTS 
 Section 3.01 Implementation Plan. BGM has developed an implementation plan for the exploitation of the ACSB Existing IP and/or the BGM Existing IP and the development and
commercialization of the Subject Products that describes the significant development and commercialization activities undertaken and additional activities to be undertaken by BGM with certain timelines with respect to the Subject Products (“the
Implementation Plan”), as provided as Exhibit C. 
 BGM has used and will continue to use Commercially Reasonable Efforts
and utmost diligence to exploit the ACSB Existing IP and to develop and commercialize the Subject Products under this AGREEMENT. 

Section 3.02 Progress of the Implementation Plan. BGM shall inform ACSB fully and regularly about the progress of the
Implementation Plan and the development and commercialization of the Subject Products and shall provide Progress Reports on the progress under the Implementation Plan regularly, at least every calendar quarter. 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 9 -

 ARTICLE 4 

INTELLECTUAL PROPERTY RIGHTS AND PROTECTION 
 Section 4.01 Ownership. Nothing in this AGREEMENT shall be deemed to constitute an assignment of ACSB’s right in the ACSB Existing IP or BGM’s right in the BGM Existing IP.

 Section 4.02 Patent Prosecution. BGM shall be responsible for and control the preparation, filing,
prosecution and maintenance of all ACSB Existing IP within the Territory, pursuant to such strategies and using such patent counsel as BGM and ACSB shall mutually agree. 
 The Parties shall collaborate and cooperate in good faith regarding all such matters, and BGM shall not take any material action related thereto without the prior approval of ACSB, which approval shall
not be unreasonably withheld or delayed. 
 BGM shall reimburse ACSB for all reasonable and customary third-party costs of such
patent preparation, filing, prosecution and maintenance incurred prior to the Effective Date and not previously reimbursed by payment of such costs to ACSB within [***] days after receipt of ACSB’s invoice (with supportive documentation)
relating thereto. 
 Section 4.03 Infringement by Third Parties. 

(a) Each Party shall promptly give the other Party notice of any actual or threatened infringement of any ACSB Existing IP or BGM Existing
IP by any Third Party that comes to such Party’s attention. The Parties will thereafter consult and cooperate fully to determine a course of action, including, without limitation, the commencement of legal action by any Party against any such
Third Party. However, BGM shall have the first right to initiate and prosecute such legal action at its own expense and in the name of BGM and ACSB provided, however, that Biomed Booster shall have the right to participate in any such legal action
against any such Third Party for infringement of any ACSB Existing IP to the extent such a right to join exists. BGM shall promptly inform ACSB if BGM elects not to exercise such first right, and ACSB thereafter shall have the right but not the
obligation to initiate and prosecute such action in the name of ACSB and, if necessary, BGM. In no event shall BGM be obligated to enforce or defend any of the ACSB Existing IP. ACSB grants to BGM the explicit right to initiate and prosecute any
legal action for infringement of the ACSB Existing IP that occurred prior to the Effective Date, at BGM’s expense and in the name of BGM and ACSB. Neither Party shall enter into any settlement or compromise of any claim relating to ACSB
Existing IP without the prior written consent of the other Party, which consent shall not be unreasonably withheld or delayed. BGM makes no representation or warranty that it will be able to obtain satisfactory results from any such legal action and
BGM shall have no liability hereunder with respect to any legal action pursued or not pursued. 
 The costs of any legal action
described herein shall be borne by the Party that initiates such action. 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 10 -

 ARTICLE 5 

REPRESENTATIONS AND WARRANTIES/LIABILITIES AND INDEMNIFICATION 

Section 5.01 Representations and Warranties of BGM 
 BGM represents and warrants to ACSB as follows: 
 (a) Organization and
Authority. BGM is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. BGM has the requisite corporate power and authority to execute and deliver this AGREEMENT, to perform its
obligations hereunder and to consummate the transactions contemplated hereby. The execution and delivery by BGM of this AGREEMENT and the performance by BGM of its obligations hereunder have been duly and validly authorized and BGM has taken all
necessary corporate action with respect thereto. This AGREEMENT has been duly and validly executed and delivered by BGM and constitutes the legal, valid and binding obligation of BGM, enforceable against it in accordance with its terms, except as
such enforcement may be limited or affected by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether enforceability
is considered in a proceeding in equity or at law) 
 (b) No Conflict. Neither the execution, delivery or
performance by BGM of this Agreement nor the consummation by BGM of the transactions contemplated hereby will (i) conflict with or result in a breach of any provision of the constitutive documents of BGM or any Agreement to which BGM is a party
or (ii) violate any provision of law, or any order, writ, injunction, permit, judgment or decree of any court or other governmental authority to which BGM is subject or by which its assets are bound. 

(c) LIMITATION OF LIABILITY. BGM SHALL NOT BE LIABLE TO ACSB FOR ANY DIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR INDIRECT
DAMAGES ARISING OUT OF THIS AGREEMENT, HOWEVER, CAUSED UNDER ANY THEORY OF LIABILITY. 
 (d) Indemnification BMG

 BGM shall indemnify, defend and hold ACSB, University, and BioMedbooster and each of their respective directors, officers,
employees and agents (each, an “Indemnified Party”) harmless from and against all claims or suits by Third Parties arising out of (i) the alleged infringement of Intellectual Property Rights owned by a Third Party resulting
from any use by BGM or its Affiliates of any ACSB Existing IP and/or BGM Existing IP or (ii) the development, manufacture, use, handling, storage, sale or other disposition by BGM or its Affiliates of any Subject Products; provided,
however, that BGM’s obligation to indemnify under this Section 5.02 shall not apply to any claim arising out of the gross negligence or willful misconduct of an Indemnified Party. 

Section 5.02 Representations and Warranties of ACSB 
 ACSB represents and warrants to BGM as follows: 
 (a) Organization and
Authority. ACSB is a corporation duly organized, validly existing and in good standing under the laws of The Netherlands. ACSB has the requisite 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 11 -

 
corporate power and corporate authority to execute and deliver this AGREEMENT, to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution and
delivery by ACSB of this AGREEMENT and the performance by ACSB of its obligations hereunder have been duly and validly authorized and ACSB has taken all necessary corporate action with respect thereto. This AGREEMENT has been duly and validly
executed and delivered by ACSB and constitutes the legal, valid and binding obligation of ACSB, enforceable against It in accordance with its terms, except as such enforcement may be limited or affected by applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law). 

(b) No Conflict. Neither the execution, delivery or performance by ACSB of this AGREEMENT nor the consummation by ACSB of
the transactions contemplated hereby will (i) conflict with or result in a breach of any provision of the constitutive documents of ACSB or any Agreement to which ACSB is a party or (ii) violate any provision of law, or any order, writ,
injunction, permit, judgment or decree of any court or other governmental authority to which ACSB is subject or by which its assets are bound. 
 (c) Rights to Intellectual Property; no warranty for Intellectual Property. As of the Effective Date of this AGREEMENT, ACSB is not aware of and has not received notice of claims or
threatened claims of any issued patents or registered rights of a Third Party which would be infringed by the manufacture, use and/or supply or commercialization of Subject Products under this AGREEMENT. ACSB, together with the University and
BioMedbooster, has all rights and authority to grant the sublicenses and other rights in respect of Intellectual Property as set forth in this AGREEMENT. 
 Nothing in this AGREEMENT is or shall be construed as: (i) a warranty or representation by ACSB as to the validity or scope of any of the ACSB Existing IP; (ii) a warranty or representation by
ACSB as to the characteristics, workability, use or commercial value of the ACSB Existing IP; (iii) a warranty or representation by ACSB that the use of the ACSB Existing IP, and/or anything made, used, sold or otherwise disposed of under the
sublicense granted in this AGREEMENT, is or will be free from infringement of rights of Third Parties; 
 (d) LIMITATION OF
LIABILITY. ACSB SHALL NOT BE LIABLE TO BGM FOR ANY DIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR INDIRECT DAMAGES ARISING OUT OF THIS AGREEMENT, HOWEVER, CAUSED UNDER ANY THEORY OF LIABILITY. 

ARTICLE 6 
 CONFIDENTIALITY 
 Section 6.01 Non-disclosure
obligations. To the extent the Parties have already or shall during the Term exchange Confidential Information in connection with this AGREEMENT, the recipient of a disclosing Party’s Confidential Information shall maintain such
Confidential Information in strict confidence except as otherwise required 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 12 -

 
by law, and shall disclose such Confidential Information only to those of its employees, agents, and contractors that have a reasonable need to know such Confidential information and who are
bound by obligations of confidentiality and non-use no less restrictive than those set forth herein. Any disclosure of Confidential Information during the term of the Product License Agreement is explicitly covered by the non-disclosure obligations
of this Section 6.01. Each party may disclose the other Party’s Confidential Information to the extent such disclosure is reasonably necessary in complying with applicable governmental laws or regulations, or court order; provided,
however, each Party agrees to provide the other Party with notice of such requirement in advance of disclosure, if possible, so that such other Party may take any action it deems appropriate to prevent or limit disclosure, and the other Party agrees
to provide reasonable cooperation with such actions, The recipient of the other Party’s Confidential Information shall take the same degree of care that it uses to protect its own confidential and proprietary information of a similar nature and
importance (but in any event, no less than reasonable care). The recipient of the disclosing Party’s Confidential Information shall use such Confidential Information solely to exercise its rights and perform its obligations under this
AGREEMENT. 
 Section 6.02 Exceptions. The confidentiality obligations under this Agreement shall not apply to
Confidential Information that the receiving Party can demonstrate by means of dated documentation: (a) was already in the public domain at the time it was disclosed or subsequently enters the public domain through no fault of the receiving
Party; (b) was known to the receiving Party or in its possession, as evidenced by dated documentation prior to receipt of such Confidential Information, (c) was developed by the receiving Party independently and without use of Confidential
Information provided by the disclosing Party under this Agreement and without any breach of this Agreement or (d) was lawfully received by the receiving Party on a non-confidential basis from a Third Party who was not bound by a similar
obligation of confidentiality in relation to the Confidential Information. 
 Section 6.03 Publicity.
Notwithstanding Section 6.02, the Parties to agree to jointly issue a press release upon signing of this Agreement and may mutually decide to issue further press releases at commercially reasonable times. 

ARTICLE 7 
 TERM AND TERMINATION 
 Section 7.01 Term. This
AGREEMENT shall be effective as of the Effective Date, and unless earlier terminated as provided under this Section 7, shall remain in effect until the expiration of the last to expire Valid Claim of the ACSB Existing IP and/or the 6GM Existing
IP. 
 Section 7.02 Termination for Cause. Each Party may terminate this AGREEMENT at any time by means of a
written notice to the other Party in the event that the other Party fails to perform any material obligation under this AGREEMENT and such failure (if susceptible to remedy) is not remedied within 60 days after receipt of a notice specifying

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 13 -

 
the nature of such failure and requiring it to be remedied (any such termination, a “Termination for Cause”). Such right of termination shall not be exclusive of any other remedy or
means of redress to which the non-defaulting Party may be lawfully entitled and all such remedies shall be cumulative. 

Section 7.03 Termination for Bankruptcy or Insolvency. Each Party may terminate this AGREEMENT with immediate effect by
means of a written notice to the other Party in the event that: (a) a creditor or other claimant takes possession of, or a receiver, administrator or similar officer is appointed over any of the assets of the other Party or (b) the other
Party makes any voluntary arrangement with its creditors or becomes subject to any court or administration order pursuant to any bankruptcy or insolvency law. 
 Section 7.04 Effect of Termination. Upon expiration or termination of this AGREEMENT, the sublicense granted to BGM and/or any and all other rights granted to BGM under this AGREEMENT
shall immediately cease to exist. 
 The obligations of the Parties under this AGREEMENT that either expressly or by their nature
would continue beyond the expiration or termination of this AGREEMENT, (including, without limitation, those concerning payment of (a portion of) Royalties, confidentiality, warranty and liability) shall survive expiration or earlier termination of
this AGREEMENT. 
 ARTICLE 8 
 MISCELLANEOUS 
 Section 8.01 Further assurance.
Each Party (at its cost) must, on receiving the other Party’s reasonable request, do and execute, or arrange to be done and executed, each document and thing necessary to implement this AGREEMENT. 

Section 8.02 Entire Agreement. This AGREEMENT contains the entire understanding of the Parties with respect to the
subject matter hereof. All previous express or implied agreements and understandings, either oral or written, heretofore made (including the Product License Agreement) are hereby cancelled as from the Effective Date and expressly superseded by this
AGREEMENT, except as explicitly provided herein. The Parties hereto agree that neither of them has placed any reliance whatsoever on such previous undertakings, representations, statements, warranties and agreements, other than those expressly
incorporated in the AGREEMENT. This AGREEMENT may be amended, or any term hereof modified, only by a written instrument duly executed by the Parties. 
 Section 8.03 Amendment. Any amendment, variation, modification or supplementation of this AGREEMENT is valid only if it is made in writing and signed by or on behalf of each Party.

 Section 8.04 Waiver. The waiver by either Party of any right hereunder or the failure to perform or of a
breach by the other Party shall not be deemed a waiver of any other right hereunder or of any other breach or failure by said other Party whether of a similar nature or otherwise. 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 14 -

 Section 8.05 Severance and Severability. The illegality, invalidity or
unenforceability of a provision of this AGREEMENT under the law of any jurisdiction does not affect: (a) the legality, validity or enforceability of any other provision of this AGREEMENT in that jurisdiction; or (b) the legality, validity
or enforceability of that or any other provision of this AGREEMENT under the law of any other jurisdiction. 
 Should one or more
provisions of this AGREEMENT be or become invalid, the Parties shall substitute, by mutual consent, valid provisions for such invalid provisions which valid provisions in their economic effect are sufficiently similar to the invalid provisions that
it can be reasonably assumed that the Parties would have entered into this AGREEMENT with such provisions. In case such provisions cannot be agreed upon, the invalidity of one or several provisions of this AGREEMENT shall not affect the validity of
this AGREEMENT as a whole. 
 Section 8.06 Counterparts. This AGREEMENT may be executed in any number of
counterparts, each of which is an original and which together have the same effect as if each party had signed the same document. 
 Section 8.07 Notices. Any consent, notice or report required or permitted to be given or made hereunder by either Party to the other Party shall be in writing, by facsimile and promptly
confirmed by regular and registered mail, addressed to the other Party at its address indicated below or to such other address as the addressee has last furnished in writing to the addressor and, except or otherwise provided in this AGREEMENT, shall
be effective upon receipt by the addressee: 
  

			
	 BG Medicine, Inc.
  

610 N. Lincoln Street
  
 Waltham, MA 02451
  
 ATTN:
CEO
  
 facsimile: +1 (781) 895-1119
	  	 ACS Biomarker B.V.
  

Oxfordlean 70
  
 6229 EV Maastricht
  
 ATTN:
CEO
  
 facsimile: +31 (0)43 388 5889

 Section 8.08 Force Majeure. Neither Party will be responsible for any failure or delay
in performing any of its obligations under this AGREEMENT, and shall not be deemed in breach of this AGREEMENT, if such failure or delay is due to a Force Majeure; provided, that, the nonperforming party shall use commercially reasonable efforts to
avoid or remove such causes of the Force Majeure and continues performance under this AGREEMENT with reasonable dispatch whenever such causes are removed. 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 15 -

 ARTICLE 9 

GOVERNING LAW AND JURISDICTION 
 Section 9.01 Governing Law. This AGREEMENT is governed by the laws of The Netherlands. 
 Section 9.02 Jurisdiction. The Court of The Hague has exclusive jurisdiction for any dispute which may arise in connection with this AGREEMENT, subject to ordinary appeal (hoger
beroep) and final appeal (cassatie). 
  

					
	 For and on behalf of BG Medicine, Inc.
	  		  	For and on behalf of ACS Biomarker, BV
			
	 /s/ Eric Bouvier
	  		  	 /s/ Heico Breek

	 Eric Bouvier
 CEO
 July 11, 2012
	  		  	 Heico Breek
 CEO

July 12, 2012

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 16 -

 EXHIBIT A.—ACSB Existing IP 

ACSH Existing IP shall mean all rights in and to patent application no. [***] with a priority date of [***] and any and all other foreign applications,
divisional applications, continuations, continuations in part, revisions, re-examinations and re-issues anywhere in the world that in full or in part can claim priority of said patent application. 

The status of the above mentioned [***]. 

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 17 -

 (12) International Application Status Report 

Received at International Bureau: [***] 

Information valid as of: [***] 

Report generated on: [***] 
  

					
	 (10) Publication number:
	  	(43) Publication date:	  	(26) Publication language:
			
	 [***]
	  	[***]	  	[***]
			
	 (21) Application Number:
	  	(22) Filing Date:	  	(25) Filing language:
			
	 [***]
	  	[***]	  	[***]
			
	 (31) Priority number(s):

[***]
	  	 (31) Priority date(s):

[***]
	  	(31) Priority status:
 [***]

  

	(51)	International Patent Classification: 

[***] 
  

	(71)	Applicant(s): 

 [***] 

 

	(72)	Inventor(s): 

 [***] 

 

	(74)	Agent(s): 

 [***] 

 

	(54)	Title (EN): [***] 

  

	(54)	Title (FR): [***] 

  

	(57)	Abstract: 

 [***] 

International search report: 
 [***]

 International preliminary examination report: 
 [***] 
  

	(81)	Designated States: 

 [***]

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 18 -

 EXHIBIT B. BGM Existing IP 

 

									
	 Docket
 No.
	  	Case title	  	US	  	PCT	  	EP
					
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
					
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
					
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
					
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
					
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
					
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
					
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]
					
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]

  

Portions of this Exhibit, indicated by the mark “[***],” were omitted and have been filed separately with the

 Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential
treatment 
 pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. 

  
 - 19 -Merrill Lynch @ Co., Inc. Deferred Compensation Plan

 Exhibit 4(a) 
 MERRILL LYNCH & CO., INC. 
 DEFERRED COMPENSATION PLAN

 DATED NOVEMBER 7, 2012 
 THIS DOCUMENT CONSTITUTES PART OF A PROSPECTUS COVERING SECURITIES THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. 

 MERRILL LYNCH & CO., INC. 

DEFERRED COMPENSATION PLAN 
 ARTICLE 1 
 GENERAL 

1.1 Purpose and Intent. 

This Plan is unfunded and maintained primarily for the purpose of providing deferred compensation for a select group of management or
highly compensated employees within the meaning of Title I of ERISA, and all decisions concerning who is to be considered a member of that select group and how this Plan shall be administered and interpreted shall be consistent with this intention.

 1.2 Definitions. 
 For the purpose of the Plan, the following terms shall have the meanings indicated. 
 “Account” means the notional account established on the books and records of ML & Co. for each Participant to record the Participant’s interest under the Plan. A separate Account
will be maintained for each Performance Year for which a Participant submits an election to defer Compensation in accordance with Section 3.1(a). 
 “Account Balance” means, as of any date, the Deferred Amounts credited to a Participant’s Account for a particular Performance Year, adjusted in accordance with Section 3.4 to reflect
the performance of the Participant’s Selected Benchmark Return Options, the Annual Charge, the Debit Balance (if any), any adjustments in the event of a Capital Call Default, and any payments made from the Account under Article V to the
Participant prior to that date. 
 “Adjusted Compensation” means the financial advisor incentive compensation, account
executive incentive compensation or estate planning and business insurance specialist incentive compensation (in each case exclusive of base salary) earned by a Participant for the relevant Performance Year, as a result of the Participant’s
production credit level, or such other similar items of compensation as the Administrator shall designate as “Adjusted Compensation” for purposes of this Plan. 
 “Administrator” means the Corporate Benefits Committee of Bank of America Corporation or its functional successor, or any other person or committee designated as Administrator of the Plan by the
Administrator. 
 “Affiliate” means any corporation, partnership, or other organization of which ML & Co.
owns or controls, directly or indirectly, not less than 50% of the total combined voting power of all classes of stock or other equity interests. 
 “Annual Charge” means the charge to a Participant’s Account provided for in Section 3.4(f). 
 “Available Balance” means amounts in a Participant’s Account that are indexed to liquid Benchmark Return Options after the Account’s Debit Balance has been reduced to zero. 

“Benchmark Return Options” means such investment vehicles as the Administrator may from time to time designate for the purpose
of indexing Accounts hereunder. In the event a Benchmark Return Option ceases to exist or is no longer to be a Benchmark Return Option, the Administrator may designate a substitute Benchmark Return Option for such discontinued option. 

“Board of Directors” means the Board of Directors of ML & Co. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. 

“Company” means ML & Co. and all of its subsidiaries. 

“Compensation” means, as relevant, a Participant’s Adjusted Compensation, Variable Incentive Compensation, or such other
items or items of compensation as the Administrator, in his or her sole discretion, may specify in a particular instance. 

 “Debit Balance” means, as of any date, the dollar amount, if any, representing the
accrued aggregate Annual Charge not deducted from the Liquid Balance. 
 “Deferral Percentage” means the percentage
(which, unless the Administrator, in his or her sole discretion, determines otherwise, shall be in whole percentage increments and not more than 90%) specified by the Participant to be the percentage of each payment of Compensation he or she wishes
to defer under the Plan. 
 “Deferred Amounts” means, except as provided in Section 5.6, the amounts of
Compensation actually deferred by the Participant under this Plan. 
 “Election Year” means, with respect to a
Performance Year, the calendar year preceding such Performance Year. 
 “Eligible Compensation” means (A) a
Participant’s base earnings and/or Adjusted Compensation for the 12-month period ending on September 30 of the Election Year, plus (B) any cash bonus awarded for performance during the Performance Year preceding the Election Year.

 “Eligible Employee” means an employee eligible to defer amounts under this Plan, as determined under
Section 2.1 hereof. 
 “ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended from
time to time. 
 “Excess Deferred Amounts” means the amount, if any, of a Participant’s Deferred Amounts in
excess of the lesser of 10% of the Participant’s Compensation or $300,000. 
 “Fiscal Month” means the monthly
period used by ML & Co. for financial accounting purposes. 
 “Fiscal Year” means the annual period used by
ML & Co. for financial accounting purposes. 
 “Full-Time Domestic Employee” means a full-time employee of
the Company or an affiliate eligible to participate in the 401(k) Plan as determined by the Company (other than any U.S. citizen or “green card” holder who is employed outside the United States) and selected by the Administrator as
eligible to participate in the Plan (subject to the other eligibility criteria). 
 “Full-Time Expatriate Employee”
means a U.S. citizen or “green card” holder employed by the Company or an affiliate outside the United States and selected by the Administrator as eligible to participate in the Plan (subject to the other eligibility criteria). 

“Hedge Fund Return Option” means one or more hedge funds that are chosen by the Administrator to be offered under the Plan for
a Performance Year – with such limitations as may be required – to eligible Participants as Benchmark Return Options. 

“Hedge Fund Unit(s)” means the record-keeping units credited to the Accounts of Participants who have chosen one or more Hedge
Fund Return Options. 
 “Income Builder Return Option” means the option of receiving returns hereunder equal to the
yield of the weighted average insurance company crediting rate from the corporate owned life insurance (COLI) insurance carrier(s) used by Merrill Lynch plus 50 basis points (or its successor). Such yield shall be set annually as of the last
business day of each calendar year, shall remain in effect until the last business day of the following calendar year, and shall be credited annually. If the weighted average return is no longer in existence, a new crediting index rate for the
Income Builder Return Option will be chosen by the Administrator. 
 “Liquid Balance” means, as of any date, the
Deferred Amounts credited to a Participant’s Account, not including amounts that are indexed to Hedge Funds adjusted (either up or down) to reflect: (1) the performance of the Participant’s Mutual Fund Return Option balances or the
Income Builder Return Option, as provided in Section 3.4; (2) reduction of any Debit Balance; and (3) any payments to the Participant under Article V hereof. 
 “Maximum Deferral” means the whole dollar amount specified by the Participant to be the amount of Compensation he or she elects to be deferred under the Plan. 

“ML & Co.” means Merrill Lynch & Co., Inc. 

  
 2 

 “Mutual Fund Return Options” means the mutual funds chosen as Benchmark Return
Options by the Administrator. 
 “Net Asset Value” means, with respect to each Benchmark Return Option that is a
mutual fund or other commingled investment vehicle for which such values are determined in the normal course of business, the net asset value, on the date in question, of the vehicle for which such value is being determined. 

“Participant” means an Eligible Employee who has elected to defer Compensation under the Plan. 

“Performance Year” means the calendar year during which services are performed for the Company by the Participant. 

“Plan” means this Merrill Lynch & Co., Inc. Deferred Compensation Plan. 

“Retirement” means a Participant’s (i) termination of employment for reasons other than for cause on or after the
Participant’s 65th birthday, or (ii) termination of employment on or after the Participant’s 55th birthday if the Participant has at least 10 years of service, or (iii) termination of employment for reasons other than cause on or
after (A) having completed at least five (5) years of service and (B) reaching any age, that, when added to a Participant’s service (in each case, expressed as completed years and completed months), equals at least 60.

 “Selected Benchmark Return Option” means a Benchmark Return Option selected by the Participant in accordance with
Section 3.4. 
 “Variable Incentive Compensation” means the variable incentive compensation or office manager
incentive compensation that is paid in cash to certain employees of the Company generally in February of the year following the Performance Year, which for purposes of this Plan is considered earned during the Performance Year regardless of when it
is actually paid to the Participant, or such other similar items of compensation as the Administrator shall designate as “Variable Incentive Compensation” for purposes of this Plan. 

“401(k) Plan” means the Merrill Lynch & Co., Inc. 401(k) Savings & Investment Plan. 

ARTICLE II 

ELIGIBILITY 
 2.1
Eligible Employees. 
 (a) General Rule. An individual is an Eligible Employee if he or she (i) is a Full-Time
Domestic Employee or a Full-Time Expatriate Employee, (ii) has at least $300,000 (or such other amount as determined by the Administrator) of Eligible Compensation for the calendar year prior to the Election Year, and (iii) has attained
the title of Vice President or higher or performs a function deemed by the Administrator to be equivalent to those performed by a Vice President. 
 (b) Disqualifying Factors. An individual shall not be an Eligible Employee if as of the deadline for submission of elections specified in Section 3.1(a), the individual’s wages have been
attached or are being garnished or are otherwise restrained pursuant to legal process. 
 ARTICLE III 

DEFERRAL ELECTIONS; ACCOUNTS 
 3.1 Deferral Elections. 
 (a) Timing and Manner of Making of
Elections. For each Performance Year, an election to defer Compensation for payment in accordance with Article V shall be made by submitting to the Administrator such forms as the Administrator may prescribe in whatever manner that the
Administrator directs. Each election submitted must specify a Maximum Deferral and a Deferral Percentage with respect to each category of Compensation to be deferred. All elections by a Participant to defer Compensation under the Plan for a
Performance Year must be received by the Administrator or such person as he or she may designate for the purpose by no later than such date in December of the Election Year as determined by the Administrator. Any election to defer Compensation that
will be indexed to a Hedge Fund Return Option shall include a Participant-selected specified payment date for which such amounts deferred shall be paid in a lump sum, irrespective of any termination of employment, death, disability or unforeseen
emergency circumstance. 

  
 3 

 (b) Irrevocability of Deferral Election. Generally, an election to defer the receipt
of any Compensation made under Section 3.1(a) is irrevocable for a Performance Year once submitted to the Administrator or his or her designee; provided, however, if a Participant receives a hardship distribution from the 401(k) Plan (or any
other Code section 401(k) plan maintained by ML & Co. or Bank of America Corporation or any affiliate thereof) pursuant to Treas. Reg. section 1.401(k)-1(d)(3): (i) the Participant shall not be entitled to defer any Compensation
pursuant to the Plan during the 6-month period beginning upon the Participant’s receipt of the hardship distribution (such period, the “Suspension Period”), (ii) any existing Participant election to defer Compensation under the
Plan shall be cancelled, in accordance with Treas. Reg. section 1.409A-3(j)(4)(viii), to the extent necessary to prohibit such deferrals during the Suspension Period, and (iii) no subsequent election by the Participant to defer Compensation
pursuant to the Plan shall become effective prior to the end of the Suspension Period. The Administrator’s acceptance of an election to defer Compensation shall not, however, affect the contingent nature of such Compensation under the plan or
program under which such Compensation is payable. 
 (c) Application of Election. Except as provided in
Section 3.1(b), the Participant’s Deferral Percentage will be applied to each payment of Compensation to which the Participant’s deferral election applies, provided that the aggregate of the Participant’s Deferred Amounts shall
not exceed the Participant’s Maximum Deferral. If a Participant has made deferral elections with respect to more than one category of Compensation, this Section 3.1(c) shall be applied separately with respect to each such category.

 3.2 Crediting to Accounts. 
 (a) Initial Deferrals. A Participant’s Deferred Amounts will be credited to the Participant’s Account as soon as practicable (but in no event later than the end of the following month)
after the last day of the Fiscal Month during which such Deferred Amounts would, but for deferral, have been paid and will be accounted for in accordance with Section 3.4. No interest will accrue, nor will any adjustment be made to an Account,
for the period until the Deferred Amounts are credited. 
 (b) Hedge Fund Return Options. A Participant’s Deferred
Amounts will be credited to the Participant’s Account monthly (subject to the terms of the underlying hedge fund with respect to receipt of investor capital). A Participant’s Account will be credited with a number of units determined by
dividing by the unit value for the relevant Hedge Fund by the portion of the Account Balance that the Participant has elected to allocate to the Hedge Fund Return Option. No interest will accrue, nor will any adjustment be made to an Account, for
the period until the Deferred Amounts are credited. 
 3.3 Requirements for Deferral. 

Notwithstanding any other provision of this Plan, no deferral will be effected under this Plan with respect to a Participant for a given
Performance Year if the Participant is not an Eligible Employee as of December 31 of the Election Year. 
 3.4 Return Options;
Adjustment of Accounts. 
 (a) Selection of Mutual Fund Return Options and Income Builder Return Option. Coincident
with the Participant’s election to defer Compensation, the Participant must select the percentage of the Participant’s Account to be adjusted to reflect the performance of Mutual Fund Return Options and the Income Builder Return Option,
for use when a Participant’s Account has a Liquid Balance. All elections shall be in multiples of 1%. A Participant may, by complying with such procedures as the Administrator may prescribe on a uniform and nondiscriminatory basis, including
procedures specifying the frequency with respect to which such changes may be effected (but not more than 12 times in any calendar year), change the Selected Benchmark Return Options to be applicable with respect to his or her Account.
Notwithstanding the foregoing, (i) a Participant may not elect to index more than the lesser of 10% of the Participant’s Compensation or $300,000 to the performance of the Income Builder Return Option, (ii) no amounts initially
indexed to the performance of the Income Builder Return Option may subsequently be changed to another Selected Benchmark Return Option, and (iii) no amounts initially indexed to the performance of another Selected Benchmark Return Option may
subsequently be changed to the Income Builder Return Option. 
 (b) Selection of Hedge Fund Return Options. In any
Performance Year that a Hedge Fund Return Option is offered as a return option, an eligible Participant may select the Hedge Fund Return Option, 

  
 4 

 
provided that the selection of such return option is consistent with the Participant’s payment election under the terms of the Plan and applicable law. Upon the closing of a selected Hedge
Fund Return Option, the selecting Participant will be subject to the following restrictions: 
  

	 	(i)	A Participant will not be able to change his or her selection of a Hedge Fund Return Option to a Mutual Fund Return Option until twelve (12) months following the
date that such Hedge Fund Return Option has been credited to his or her Account Balance. Any transfer to a Mutual Fund Return Option will (a) only be permitted on a quarterly basis (after the aforementioned one year lockup period),
(b) require ninety (90) days notice and (c) become effective only when the underlying hedge fund processes the transfer. 

  

	 	(ii)	The Hedge Fund Return Option will be transferred into a money market fund within eighteen (18) months prior to the Participant’s specified payment date, upon
which the Participant may subsequently allocate such Account Balance to any Mutual Fund Return Options. The value of such Hedge Fund Return Option shall be based on the unit value of the relevant Hedge Fund Return Option immediately prior to such
transfer. 

  

	 	(iii)	A Participant’s specified payment date may be extended by the Company for at least five (5) years in the event that such hedge fund experiences any liquidity
difficulties; provided that any election to extend the payment date in this manner must be made at least one (1) year prior to the original payment date and will not be effective until one (1) year after it is made.

  

	 	(iv)	Any other restrictions that the Plan may impose on the Hedge Fund Return Option, in its sole discretion, based on events relating to the underlying hedge funds.

 (c) Adjustment of Income Builder Return Option Balances and Other Special Rules. 

 

	 	(i)	Crediting. The portion, if any, of a Participant’s Account Balance attributable to the Income Builder Return Option shall be credited annually to reflect
the rate of return under such Return Option. Such amounts shall not be reduced by the Annual Charge. 

  

	 	(ii)	Death Benefit. In the event of a Participant’s death while still employed by the Company, the portion of the Participant’s Account Balance attributable
to the Income Builder Return Option shall be credited with an additional benchmark investment return (the “Death Benefit”) calculated as if such portion of the balances had been credited with the then current rate of return under the
Income Builder Return Option until the later of the fifth anniversary of the Participant’s death or the date on which the Participant would have attained age 60. In order for the Participant’s balances to be eligible for this additional
benchmark investment return, or Death Benefit, the Participant must provide consent to the Company (in accordance with rules and procedures established by the Administrator) if the Company chooses to purchase, and be the beneficiary of, one or more
insurance policies on the Participant’s life. This amount will be paid to the Participant’s beneficiary or the Participant’s estate in a lump sum. 

 (d) Adjustment of Mutual Fund Return Balances. While the Participant’s Balances do not represent the Participant’s ownership of, or any ownership interest in, any particular assets, the
Balances attributable to Mutual Fund Return Options shall be adjusted to reflect credits or debits relating to distributions from any Hedge Fund Return Options, or charge offs against the Debit Balance and to reflect the investment experience of the
Participant’s Mutual Fund Return Options in the same manner as if investments or dispositions in accordance with the Participant’s elections had actually been made through the ML Benefit Services Platform and ML II Core Recordkeeping
System, or any successor system used for keeping records of Participants’ Accounts (the “ML II System”). In adjusting Accounts, the Participant will give instructions to the ML Benefit Services Platform which will be reflected as
credits or debits as of the weekly processing of such instructions through the ML II System. This processing shall control the timing and pricing of the notional investments in the Participant’s Mutual Fund Return Options in accordance with the
rules of operation of the ML II System and its requirements for placing corresponding investment orders, as if orders to make corresponding investments or dispositions were actually to be made on the transaction processing date. In connection with
the crediting of Deferred Amounts or distributions to the Participant’s Account and distributions from or debits to the 

  
 5 

 
Account, appropriate deferral allocation instructions shall be treated as received from the Participant prior to the close of transactions through the ML II System on the relevant transaction
processing date. Each Mutual Fund Return Option shall be valued using the Net Asset Value of the Mutual Fund Return Option as of the relevant transaction processing date; provided, that, in valuing a Mutual Fund Return Option for which a Net
Asset Value is not computed, the value of the security involved for determining Participants’ rights under the Plan shall be the price reported for actual transactions in that security through the ML II System on the relevant transaction
processing date, without giving effect to any transaction charges or costs associated with such transactions; provided, further, that, if there are no such transactions effected through the ML II System on the relevant day, the value
of the security shall be: 
  

	 	(i)	if the security is listed for trading on one or more national securities exchanges, the average of the high and low sale prices for that day on the principal exchange
for such security, or if such security is not traded on such principal exchange on that day, the average of the high and low sales prices on such exchange on the first day prior thereto on which such security was so traded; 

 

	 	(ii)	if the security is not listed for trading on a national securities exchange but is traded in the over-the-counter market, the average of the highest and lowest bid
prices for such security on the relevant day; or 

  

	 	(iii)	if neither clause (i) nor (ii) applies, the value determined by the Administrator by whatever means he or she considers appropriate in his or her sole
discretion. 

 All debits and charges against a Participant’s Account shall be applied as a pro rata
reduction of the portion of the Account Balance indexed to each of the Participant’s Mutual Fund Return Options and to the Hedge Fund Return Option. 
 (e) Adjustment of Hedge Fund Return Balances. Whenever a distribution is paid on an actual unit of a Hedge Fund Return Option, an amount equal to such per unit distribution times the number of
units in the Participant’s Account will first be applied against any Debit Balance, as provided in Section 3.4(f), and then, if any portion of such distribution remains after the Debit Balance is reduced to zero, be credited to the
Participant’s Account to be indexed initially to a money market fund and then to the Mutual Fund Return Option(s) chosen by the Participant. 
 (f) Annual Charge. As of the last day of each Fiscal Year or such earlier day in December as the Administrator shall determine, an Annual Charge of 2.0% of the Participant’s Excess Deferred
Amounts (exclusive of any appreciation or depreciation determined under Sections 3.4(c), 3.4(d), or 3.4(e)) shall be applied to reduce the Account Balance. 
 In the event that all or any portion of the Account Balance is indexed to a Benchmark Return Option with less than daily liquidity, the Annual Charge, if any, will accrue as a Debit Balance and be paid
out of future amounts credited to the Account Balance. 
  

	 	(i)	In the event that the Participant elects to have the Account Balance paid in installments, the Annual Charge for each installment will be determined when installments
commence by dividing the Participant’s Excess Deferred Amounts by the number of installments to be paid. The result of this calculation will be assessed against each installment in each year that installments are paid. 

 

	 	(ii)	In the event that the Account Balance is paid out completely during a Fiscal Year prior to the date upon which the Annual Charge is assessed, a pro rata Annual
Charge will be deducted from amounts to be paid to the Participant to cover that fraction of the Account Balance maintained during the Fiscal Year. The Annual Charge shall be applied as a pro rata reduction of the portion of the Account
Balance indexed to each of the Participant’s Selected Benchmark Return Options. In applying the Annual Charge, the pricing principles set forth in Section 3.4(d) will be followed. 

  
 6 

 ARTICLE IV 
 STATUS OF DEFERRED AMOUNTS AND ACCOUNT 
 4.1 No Trust or Fund Created; General Creditor
Status. 
 Nothing contained herein and no action taken pursuant hereto will be construed to create a trust or separate fund
of any kind or a fiduciary relationship between ML & Co. and any Participant, the Participant’s beneficiary or estate, or any other person. Title to and beneficial ownership of any funds represented by the Account Balance will at all
times remain in ML & Co.; such funds will continue for all purposes to be a part of the general funds of ML & Co. and may be used for any corporate purpose. No person will, by virtue of the provisions of this Plan, have any
interest whatsoever in any specific assets of the Company. TO THE EXTENT THAT ANY PERSON ACQUIRES A RIGHT TO RECEIVE PAYMENTS FROM ML & CO. UNDER THIS PLAN, SUCH RIGHT WILL BE NO GREATER THAN THE RIGHT OF ANY UNSECURED GENERAL CREDITOR OF
ML & CO. 
 4.2 Non-Assignability. 
 The Participant’s right or the right of any other person to the Account Balance or any other benefits hereunder cannot be assigned, alienated, sold, garnished, transferred, pledged, or encumbered
except by a written designation of beneficiary under this Plan, by written will, or by the laws of descent and distribution. 
 4.3 Effect of
Deferral on Benefits Under Pension and Welfare Benefit Plans. 
 The effect of deferral on pension and welfare benefit plans
in which the Participant may participate will depend upon the provisions of each such plan, as amended from time to time. 

ARTICLE V 

PAYMENT OF ACCOUNT 

5.1 Manner of Payment. 

(a) General. With respect to each of a Participant’s Accounts, the Account Balance of such Account will be paid by the
Company, as elected by the Participant at the time of his or her deferral election with respect to such Account, either in a single payment to be made, or in the number of annual installments (not to exceed 15) chosen by the Participant to commence,
(i) in the month following the month of the Participant’s Retirement or death, (ii) in any month and year selected by the Participant after the end of the Performance Year for which the deferral election was made, or for deferrals of
annual cash incentive compensation, a month and year after the end of the year following such Performance Year or (iii) in any month in the calendar year following the Participant’s Retirement; provided that, if a Participant’s
election would result in payment (in the case of a single payment) or commencement of payment (in the case of installment payments) after the Participant’s 70th birthday, then, notwithstanding the Participant’s elections, the Company will
pay, or commence payment of, the Participant’s Account Balance in the month following the Participant’s 70th birthday unless the Participant continues to be an active full time employee at such time, in which case the Company will pay, or
commence payment of, the Participant’s Account Balance in the month following the Participant’s cessation of active service (to the extent payment has not already been made or commenced). The amount of each annual installment, if
applicable, shall be determined by multiplying the Account Balance as of the last day of the month immediately preceding the month in which the payment is to be made by a fraction, the numerator of which is one and the denominator of which is the
number of remaining installment payments (including the installment payment to be made). Notwithstanding the foregoing, if a Participant indexes any portion of his or her Account Balance to the Income Builder Return Option, the Participant may make
separate payment elections with respect to the portion of his or her Account Balance indexed to the Income Builder Return Option and the remainder of such Account Balance. 
 (b) Payment of Hedge Fund Return Option Account Balances. Notwithstanding anything in the Plan to the contrary, if a Participant elects the Hedge Fund Return Option, (i) the Participant is
required to choose a specified payment date at the time of such election, (ii) the portion of the Account Balance attributable to initial election of the Hedge Fund Return Option shall be paid out in one lump sum on such specified payment date,
in accordance with the process set forth in Section 3.4(b) and irrespective of whether all or any portion of such Account Balance is allocated to another Benchmark Return Option as of such specified payment date and (iii) no
Participant’s termination of employment, death, disability or unforeseeable emergency shall accelerate the payment of any amounts initially deferred under the Hedge Fund Return Option. 

  
 7 

 (c) Deferral of Payment of Hedge Fund Return Option Account Balances. The Company
will have the option, not later than one year in advance of the date a Participant would have otherwise been paid, of extending a Participant’s specified payment date until a date that is at least five years from his or her original specified
payment date in the event that the hedge fund underlying a Hedge Fund Return Option is experiencing liquidity constraints; however, such election by the Company shall not be effective for any purpose until one year after it is made. 

5.2 Termination of Employment. 
 (a) Death or Retirement. Subject to Section 5.2(b)(2), upon a Participant’s Retirement (as defined in this Plan) prior to payment, with respect to each of a Participant’s Accounts,
the Account Balance of such Account will be paid, in accordance with the Participant’s elections with respect to such Account and as provided in Section 5.1, to the Participant. Upon the death of a Participant prior to payment, the Account
Balance will be paid to the Participant’s beneficiary either in accordance with his or her elections if he or she has elected 10 or more installment payments or in a lump sum if he or she has not elected 10 or more installment payments;
provided, however, that in the event that the Participant is entitled to the Death Benefit, the applicable portion of the Account Balance will promptly be paid in a single payment to such beneficiary notwithstanding any election of
installment payments and provided, further, that, if no beneficiary has been designated, all payments will be made in a lump sum to the Participant’s estate. 

(b) Other Termination of Employment; Treatment of Key Employees 

(1) Subject to Section 5.2(b)(2), if a Participant’s employment terminates at any time for any other reason than those
described in Section 5.2(a), then, notwithstanding the Participant’s elections hereunder, any Available Balance other than those benchmarked to Hedge Fund Return Options will be paid to the Participant in a single payment in the month
following the month of the Participant’s termination. 
 (2) If a Participant’s employment terminates at any time
while the Participant constitutes a specified employee within the meaning of section 409A of the Code, then, notwithstanding the Participant’s elections hereunder, any Available Balance will be paid to the Participant (or to the
Participant’s beneficiary, in the event of death) in a single payment in the month following the earlier of (i) the six-month anniversary of the Participant’s termination or (ii) the month of the Participant’s death.

 (c) Leave of Absence, Transfer or Disability. Subject to the limitations imposed by Code Section 409A, a
Participant’s employment will not be considered as terminated if the Participant (1) is on an approved leave of absence; (2) transfers or is transferred but remains in the employ of the Company or an unconsolidated affiliate; or
(3) is eligible to receive disability payments. 
 5.3 Withholding of Taxes. 

ML & Co. will deduct or withhold from any payment to be made or deferred hereunder any U.S. Federal, state or foreign income or
employment taxes required by law to be withheld or require the Participant or the Participant’s beneficiary to pay any amount, or the balance of any amount, required to be withheld. 
 5.4 Beneficiary. 
 (a) Designation of Beneficiary. The Participant
may designate, in writing delivered to the Administrator or his or her designee before the Participant’s death, a beneficiary to receive payments in the event of the Participant’s death. The Participant may also designate a contingent
beneficiary to receive payments in accordance with this Plan if the primary beneficiary does not survive the Participant. The Participant may designate more than one person as the Participant’s beneficiary or contingent beneficiary, in which
case (i) no contingent beneficiary would receive any payment unless all of the primary beneficiaries predeceased the Participant, and (ii) the surviving beneficiaries in any class shall share in any payments in proportion to the
percentages of interest assigned to them by the Participant. 
 (b) Change in Beneficiary. The Participant may change his
or her beneficiary or contingent beneficiary (without the consent of any prior beneficiary) in writing delivered to the Administrator or his or her 

  
 8 

 
designee before the Participant’s death. Unless the Participant states otherwise in writing, any change in beneficiary or contingent beneficiary will automatically revoke prior such
designations of the Participant’s beneficiary or of the Participant’s contingent beneficiary, as the case may be, under this Plan only; and any designations under other deferral agreements or plans of the Company will remain unaffected.

 (c) Default Beneficiary. In the event that a Participant does not designate a beneficiary, or no designated
beneficiary survives the Participant, the Participant’s beneficiary shall be the Participant’s surviving spouse, if the Participant is married at the time of his or her death and not subject to a court-approved agreement or court decree of
separation. If the Participant has not designated a beneficiary or has no surviving beneficiary and the Participant is unmarried, any amounts payable under the Plan will be paid to the Participant’s estate. 

(d) If the Beneficiary Dies During Payment. If a beneficiary who is receiving or is entitled to receive payments hereunder dies
after the Participant dies, but before all the payments have been made, the portion of the Account Balance to which that beneficiary was entitled will be paid as soon as practicable in one lump sum to such beneficiary’s estate and not to any
contingent beneficiary the Participant may have designated. 
 5.5 Distributions Upon Unforeseeable Emergency. 

ML & Co. has the sole discretion, but shall not be required, to pay to the Participant, on such terms and conditions as the
Administrator may establish, such part or all of the Participant’s Account Balance as the Administrator determines (other than any portion benchmarked to Hedge Fund Return Options), based upon substantial evidence submitted by the Participant,
is necessary to alleviate an unforeseeable emergency of the Participant. An unforeseeable emergency is defined as a severe financial hardship to the Participant (i) resulting from an illness or accident of the Participant, the
Participant’s spouse, or a dependent (as defined in section 152(a) of the Code, (ii) loss of the Participant’s property due to casualty, or (iii) other similar extraordinary and unforeseeable circumstances arising as a result of
events beyond the control of the Participant. The amount of the distribution shall not exceed the amount needed to satisfy the emergency plus taxes reasonably anticipated as a result of the distribution. A distribution shall not be allowed to the
extent that the emergency may be relieved through reimbursement or compensation by insurance or otherwise, or by liquidation of the Participant’s assets (to the extent such liquidation would not itself cause a severe financial hardship). Such
payment will be made only at the Participant’s written request and with the express approval of the Administrator and will be made on the date selected by the Administrator in his or her sole discretion. The balance of the Account, if any, will
continue to be governed by the terms of this Plan. 
 5.6 Domestic Relations Orders. 

Notwithstanding the Participant’s elections hereunder, ML & Co. will pay to, or to the Participant for the benefit of, the
Participant’s spouse or former spouse the portion of the Participant’s Account Balance specified in a valid court order entered in a domestic relations proceeding involving the Participant’s divorce or legal separation. Such payment
will be made in a lump sum and net of any amounts the Company may be required to withhold under applicable federal, foreign, state or local law. Such payment will be made in a lump sum less any withholdings, with the timing of such payment dependent
on the liquidity of the benchmark chosen by the Participant. After such payment, references herein to the Participant’s “Deferred Amounts” (except for purposes of determining the Annual Charge applicable to any remaining Account
Balance) shall mean the Participant’s original Deferred Amounts times an amount equal to one minus a fraction, the numerator of which is the gross amount (prior to withholding) paid pursuant to the order, and the denominator of which is the
Participant’s Account Balance immediately prior to payment. 
 5.7 No Actions Permitted that Would Cause Constructive Receipt or Violate
Section 409A of the Code. 
 Notwithstanding any provision of the Plan to the contrary, no deferral election, payment
election, modification of any election under the Plan or other action with respect to the Plan shall be permitted to the extent that such election, modification or other action would violate any requirement of section 409A of the Code or would cause
any Participant or Beneficiary to be in constructive receipt of any amount hereunder. 

  
 9 

 ARTICLE VI 
 ADMINISTRATION OF THE PLAN 
 6.1 Powers of the Administrator. 

The Administrator has full power and authority to interpret, construe and administer this Plan so as to ensure that it provides deferred
compensation for the Participants as members of a select group of management or highly compensated employees within the meaning of Title I of ERISA. The Administrator’s interpretations and construction hereof, and actions hereunder, including
any determinations regarding the amount or recipient of any payments, will be binding and conclusive on all persons for all purposes. The Administrator will not be liable to any person for any action taken or omitted in connection with the
interpretation and administration of this Plan unless attributable to his or her willful misconduct or lack of good faith. The Administrator may designate persons to carry out the specified responsibilities of the Administrator and shall not be
liable for any act or omission of a person as designated. 
 6.2 Grantor Trust. 

Creation of Trust. The Administrator shall be empowered (but shall not be required) to create a grantor trust to hold assets
representing the amounts deferred under this Plan on such terms and conditions as the Administrator shall approve. The trustee of the grantor trust shall be a party unaffiliated with the Company. 

6.3 Claims Procedure. 

Any claims under the Plan by a Participant or a beneficiary shall be made in accordance with the claims procedures as set forth in the
401(k) Plan. 
 6.4 Payments on Behalf of an Incompetent. 
 If the Administrator finds that any person who is entitled to any payment hereunder is a minor or is unable to care for his or her affairs because of disability or incompetency, payment of the Account
Balance may be made to anyone found by the Administrator to be the committee or other authorized representative of such person, or to be otherwise entitled to such payment, in the manner and under the conditions that the Administrator determines.
Such payment will be a complete discharge of the liabilities of ML & Co. hereunder with respect to the amounts so paid. 
 6.5
Corporate Books and Records Controlling. 
 The books and records of the Company will be controlling in the event that a
question arises hereunder concerning the amount of Incentive Compensation, Eligible Compensation, the Deferred Amounts, the Account Balance, the designation of a beneficiary, or any other matters. 

ARTICLE VII 

MISCELLANEOUS PROVISIONS 

7.1 Litigation. 
 The
Company shall have the right to contest, at its expense, any ruling or decision, administrative or judicial, on an issue that is related to the Plan and that the Administrator believes to be important to Participants, and to conduct any such contest
or any litigation arising therefrom to a final decision. 
 7.2 Headings Are Not Controlling. 

The headings contained in this Plan are for convenience only and will not control or affect the meaning or construction of any of the
terms or provisions of this Plan. 
 7.3 Governing Law. 
 To the extent not preempted by applicable U.S. Federal law, this Plan will be construed in accordance with and governed by the laws of the State of New York as to all matters, including, but not limited
to, matters of validity, construction, and performance. 

  
 10 

 7.4 Amendment and Termination. 

ML & Co. reserves the right to amend or terminate this Plan at any time, except that no such amendment or termination shall
adversely affect the right of a Participant to his or her Account Balance (as reduced by the Annual Charge or the Debit Balance, as set forth in Section 3.4) as of the date of such amendment or termination. 

  
 11

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