Document:

EX-10.6

 Exhibit 10.6 

[***] = Certain information contained in this document, marked by brackets, has been omitted because it is both not material and would be competitively
harmful if publicly disclosed. 
 LICENCE AGREEMENT 

THIS AGREEMENT is effective as of the 28th day of July, 2015 (the
“Effective Date”), between the CALIFORNIA INSTITUTE OF TECHNOLOGY (“Caltech”), a not-for-profit corporation duly organized and existing under the laws of the State of California with an address at 1200 East California Boulevard, MC 6-32, Pasadena,
California 91125 and Calboun Vision, Inc. (“Licensee”), a California corporation having a place of business at 2555 E. Colorado Blvd., Pasadena, CA 91107 (the “Parties”). 

WHEREAS, Licensee is desirous of obtaining, and Caltech wishes to grant to Licensee, an exclusive license
to certain Exclusively Licensed Patent Rights and to the Improvement Patent Rights, and a nonexclusive license under the Technology, as further defined below; 

Now, THEREFORE, the Parties agree as follows: 

ARTICLE 1 
 DEFINITIONS

 1.1    “Affiliate” means any corporation, limited liability company or other legal entity which
directly or indirectly controls, is controlled by, or is under common control with Licensee as of the Effective Date of this Agreement. For the purpose of this Agreement, “control” shall mean the direct or indirect ownership of greater
than fifty percent (>50%) of the outstanding shares on a fully diluted basis or other voting rights of the subject entity to elect directors, or if not meeting the preceding, any entity owned or controlled by or owning or controlling at the
maximum control or ownership right permitted in the country where such entity exists. In addition, a party’s status as an Affiliate of Licensee shall terminate if and when such control ceases to exist. 

1.2    “Caltech IP” means the Exclusively Licensed Patent Rights, Improvement Patent Rights, and the
Technology. 
 1.3    “Deductible Expenses” means the following expenses incurred in
connection with sales or licensing of Licensed Products to the extent actually paid by Licensee, Affiliates or 

  
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Sublicensees in accordance with generally recognized principles of accounting: (a) sales, use or turnover taxes; (b) excise, value added, or other taxes or custom duties;
(c) transportation, freight, and handling charges, and insurance on shipments to customers; (d) trade, cash or quantity discounts or rebates to the extent actually granted; (e) agent fees or commissions; and (f) rebates, refunds,
and credits for any rejected or returned Licensed Products or because of retroactive price reductions or rebates. 

1.4    “Effective Date” has the meaning set forth in the preamble. 

1.5    “Exclusively Licensed Patent Rights” means Caltech’s rights under: (a) all patents and
patent applications listed in Exhibit A attached hereto; (b) any patents issuing therefrom; and (c) any patents or patent applications claiming a right of priority thereto (including reissues, reexaminations, renewals, extensions,
divisionals, continuations, continued prosecution applications, continuations-in-part (only to the extent that the claims in such continuations-in-part are fully supported under 35 U.S.C. §112 by another patent or patent application in the Exclusively Licensed Patent Rights, or are Improvement Patent Rights) and foreign
counterparts of any of the foregoing. 
 1.6    “Field” means all fields. 

1.7     “Improvements” means any future inventions conceived and reduced to practice or otherwise
developed solely in the laboratory of Robert H. Grubbs at Caltech or jointly between the laboratory and Licensee, in the Field, for a period of three (3) years from the Effective Date, which arc dominated by a Valid Claim under the Exclusively
Licensed Patent Rights, and which Caltech has the right to license in accordance with this Agreement. 

1.8    “improvement Patent Rights” means Caltech’s rights under: (a) all patents and patent
applications with claims directed to Improvements which have been elected on in writing by Licensee after disclosure by Caltech of such Improvements; (b) any patents issuing therefrom; and (c) any patents or patent applications claiming a
right of priority thereto (including reissues, reexaminations, renewals, extensions, divisionals, continuations, continued prosecution applications,
continuations-in-part (only to the extent that the claims in such continuations-in-part
are supported under 35 U.S.C. §112 by another patent or patent application in the 

  
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Exclusively Licensed Patent Rights, or are Improvement Patent Rights) and foreign counterparts of any of the foregoing). 

1.9    “Licensed Product” means any product, device, system, article of manufacture, machine, composition
of matter, or process or service in the Field that is covered by, or is made by a process covered by, any Valid Claim, or that utilizes Technology in material part. 

1.10    “Net Revenues” means all amounts, less Deductible Expenses, received by Licensee,
Affiliates, and Sublicensees from the sale or other distribution (whether commercial or not) of Licensed Products Any non-cash consideration received by Licensee for the sale or other distribution of Licensed
Products or the licensing of Exclusively Licensed Patent Rights will be converted to a cash value based on the fair market value or a value mutually agreed upon. Net Revenues will not include payments for Licensed Products that are covered only by
pending claims of the Exclusively Licensed Patent Rights or Improvement Patent Rights that have a priority date more than seven (7) years before the date of sale of such Licensed Product. 

1.11    “Sublicensee” means any person or entity sublicensed, or granted an option for a
sublicense, by Licensee under this Agreement. 
 1.12    “Sublieensing Revenue” means cash
consideration and cash value of all equity consideration valued at fair market value that Licensee and/or Affiliates receive from a Sublicensee in consideration for, and to the extent attributable to, the grant of a sublicense under the Caltech IP
that is not royalties on Net Revenues. Sublicensing Revenue includes, but is not limited to, license fees, license maintenance fees, milestone payments, and other payments that Licensee receives (including payments for technical assistance and the
like), Such Sublicensing Revenue specifically shall not include payments made by a Sublicensee solely in consideration of: (a) equity or debt securities of Licensee sold at market value; (b) to support research or development activities to
be undertaken by Licensee; (c) upon the achievement by Licensee of specified milestones or benchmarks relating to the development of Licensed Products (excluding milestones tied to sales or marketing performance, which shall be subject to the
percentage-based payments to Caltech herein); (d) pilot studies; (e) the license or sublicense of any intellectual property other than Caltech IP; (f) products other than Licensed Products; or (g) reimbursement for patent or other
expenses, If 

  
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Licensee receives equity securities or securities that are convertible into equity securities from a Sublicensee, Licensee will hold the equity securities until the first liquidity event, at
which time Licensee will make reasonable efforts to liquidate the equity securities, and any resulting cash shall be distributed as it would any other royalty or fee payments under this Agreement. 

1.13    “Technology” means any technology existing as of the Effective Date, including but
not limited to proprietary information, know-how, procedures, methods, prototypes, designs, technical data, and reports, that is requested by Licensee and consented to by Caltech, and that is:
(a)    specifically listed in Exhibit B or (b) disclosed in the patents and patent applications in the Exclusively Licensed Patent Rights. 

1.14    “Territory” means throughout the world. 

1.15    “Valid Claim” means: 

(a)    a claim of an issued patent within the Exclusively Licensed Patent Rights or Improvement Patent Rights that has not: 

(i)    expired or been canceled, 

(ii)    been finally adjudicated to be invalid or unenforceable by a decision of a court or other appropriate body of
competent jurisdiction (and from which no appeal is or can be taken), 
 (iii)    been admitted to be invalid or
unenforceable through reissue, disclaimer or otherwise, or 
 (iv)    been abandoned in accordance with, or as permitted
by, the terms of this Agreement or by mutual written agreement; or 
 (b)    a claim included in a pending patent application within the
Exclusively Licensed Patent Rights or Improvement Patent Rights, which claim is being actively prosecuted in accordance with this Agreement and which has not been; 

(i)    canceled, 

(ii)    withdrawn from consideration, 

(iii)    finally determined to be unallowable by the applicable governmental authority (and from which no appeal is or can
be taken), or 

  
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 (iv)    abandoned in accordance with, or as permitted by, the terms of
this Agreement or by mutual written agreement. 
 ARTICLE 2 

LICENSE GRANT 

2.1    Grant of Rights. Caltech hereby grants to Licensee and its Affiliates the following licenses:

 (a)    an exclusive, royalty-bearing license under the Exclusively Licensed Patent Rights and the Improvement Patent
Rights to make, have made, import, use, sell, and offer for sale Licensed Products in the Field in the Territory; and 

(b)    an exclusive, royalty-bearing license under the Technology to make, have made, import, use, sell, offer for sale,
reproduce, distribute, display, perform, create derivative works of, and otherwise exploit Licensed Products in the Field in the Territory. 

These licenses are personal to and nontransferable by Licensee, except as provided in Article 6. Rights not explicitly granted herein are
reserved by Caltech. 
 2.2    Reservation of Rights; Government Rights. These licenses are subject
to: (a) the reservation of Caltech’s right to make, have made, import, and use Licensed Products for noncommercial educational and research purposes, but not for commercial sale or other commercial distribution to third parties; and
(b) any existing right of the U.S. Government under Title 35, United States Code, Section 200 et seq. and under 37 Code of Federal Regulations, Section 401 et seq., including but not limited to legally required grants to the U.S.
Government of a nonexclusive, nontransferable, irrevocable, paid-up license to practice any invention conceived or first actually reduced to practice in the performance of work for or on behalf of the U.S.
Government throughout the world. Licensed Products shall be substantially manufactured in the United States to the extent (if at all) required by 35 U.S.C. Section 204. In addition, Caltech reserves the right to grant the Exclusively Licensed
Patent Rights, Improvement Patent Rights, and associated technology to other non-profit institutions for noncommercial educational and research purposes, including clinical research. 

  
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 2.3    Sublicensing. Licensee has the right hereunder to
grant sublicenses to third parties, but Sublicensees shall not have the right to grant further sublicenses through more than two (2) tiers of further Sublicensees, and the sublicenses may be of no greater scope than the licenses granted under
Section 2.1. 
 Licensee shall require that all sublicenses: 

(a)    are subject to the terms and conditions of this Agreement; and 

(b)    contain the Sublicensee’s acknowledgment of the disclaimer of warranty and limitation on Caltech’s
liability, as provided by Articles 9 and 13 below; and 
 (c)    contain provisions under which the Sublicensee accepts
duties at least equivalent to those accepted by the Licensee in the following Sections: 5.9-5.10 (duty to keep records); 8.7 (duty to properly mark Licensed Products with patent numbers); 9.4 (duty to defend,
hold harmless, and indemnify Caltech); 13.2 (duty to maintain insurance); 14.8 (duty to restrict the use of Caltech’s name); and 14.9 (duty to control exports). 

Licensee shall not receive, or agree to receive, anything of value in lieu of cash or equity from a third party under a sublicense granted
pursuant to this Section 2.3, without Caltech’s express prior written permission which shall not be unreasonably withheld. 
 Licensee shall
furnish Caltech within thirty (30) days of the execution thereof a true and complete copy of each sublicense and any changes or additions thereto. Licensee shall inform Caltech of each sublicensee’s entity status for the determination of
fees payable to the U.S. Patent and Trademark Office (USPTO). 
 Any sublicenses granted by Licensee shall survive termination of the
licenses granted in Section 2.1, or of this Agreement, provided that the following conditions are met as of the date of such termination: 

(a)    the written agreement between Licensee and Sublicensee pursuant to which the sublicense was granted
(i) obligates the Sublicensee to thereafter render to Caltech all sublicense royalties or other sublicense-related consideration that the Sublicensee would have owed to Licensee under the sublicense, (ii) names Caltech as a third party
beneficiary, and (iii) affirms that Licensee shall remain responsible for all obligations to Sublicensee (other than those 

  
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requiring Licensee to hold a license under the Exclusively Licensed Patent Rights, Improvement Patent Rights, or Technology) unless Caltech (at its discretion) elects to assume such obligations;

 (b)    Licensee informs the Sublicensee in writing (with a copy to Caltech) that the Sublicensee’s obligations
pursuant to (a) are in effect as a result of the termination; and 
 (c)    the sublicense was granted in
accordance with the sublicensing provisions of this Agreement. 
 Licensee shall be responsible for collecting and paying to Caltech all
royalties on Net Revenues and Sublicensing Revenues owed by all Sublicensees. 
 2.4    No Other Rights
Granted. The Parties agree that neither this Agreement, nor any action of the Parties related hereto, may be interpreted as conferring by implication, estoppel or otherwise, any license or rights under any intellectual property rights
of Caltech other than as expressly and specifically set forth in this Agreement, regardless of whether such other intellectual property rights are dominant or subordinate to the Exclusively Licensed Patent .Rights. 

2.5    Purchaser Status. Caltech shall be entitled to purchase Licensed Products from Licensee for
educational, research or other noncommercial purposes on pricing terms that are commercially reasonable. 
 ARTICLE 3 

RESERVED 
 ARTICLE 4

 PROSECUTION OF PATENT APPLICATIONS AND 

PAYMENT OF PATENT COSTS 

4.1    Prosecution by Caltech. Caltech shall use reasonable efforts, consistent with its
normal practices, to: (a) prosecute any and all patent application(s) included in the Exclusively Licensed Patent Rights; and (b) file and prosecute Improvement Patent Rights licensed hereunder for which Caltech or Licensee deems it
beneficial to obtain additional coverage, provided that Licensee is reimbursing patent expenses in accordance with Sections 4.4 and 4.5. Licensee may 

  
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recommend patent counsel for this purpose. Caltech shall permit Licensee to review and request modifications on all patent applications and claims made therein, and Caltech shall make reasonable
efforts to implement modifications thereto as may be requested by Licensee prior to filing. 
 4.2    Election of
Improvements. With respect to filings pursuant to Section 4.1(b) heroin above, Caltech shall promptly disclose such Improvements to Licensee, and Licensee shall elect within thirty (30) days whether such Improvements shall
be included within the Improvement Patent Rights, at its expense. Caltech will have no obligation to prosecute patent applications that may constitute Improvements that are not elected by Licensee. Upon written election by Licensee, the Parties will
amend, in a timely manner, Exhibit A hereto to include such Improvements within the Exclusively Licensed Patent Rights. 

4.3    Prosecution by Licensee. If Caltech declines to file, prosecute or maintain a patent or patent
application in the Exclusively Licensed Patent Rights or Improvement Patent Rights, then Licensee may elect to assume responsibility for such filing, prosecution or maintenance at its expense in Caltech’s name, with Caltech remaining the client
of record with the prosecuting attorney(s). Licensee shall fully cooperate with any and all other licensees, if any, of the patent or patent application. Caltech agrees to fully cooperate with Licensee in filing, prosecuting, and maintaining any
such patent applications and patents, and Caltech agrees to execute any documents as shall be necessary for such purpose, and not to impair in any way the patentability of any of the foregoing. 

4.4    Past Patent Costs. Licensee shall reimburse Caltech for all reasonable expenses (including
attorneys’ fees) incurred by Caltech prior to the Effective Date for the filing, prosecution and maintenance, interference or reexamination proceedings, of the Exclusively Licensed Patent Rights and Improvement Patent Rights. All amounts owed
under this Section 4.4 shall be due on or before April 30, 2016. Past patent costs as of the Effective Date are approximately [***]. Promptly following the Effective Date, Caltech shall provide Licensee with an invoice for the past patent
costs reimbursable by Licensee, including copies of Caltech’s records evidencing such past patent costs. 

  
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 4.5    Ongoing Patent Costs. Licensee shall
reimburse Caltech for all fees and costs relating to ongoing filing, prosecution and maintenance, interference or reexamination proceedings of the Exclusively Licensed Patent Rights and Improvement Patent Rights that are not included in
Section 4.4 above. Such reimbursement shall be made within thirty (30) days of receipt of Caltech’s invoice. Should Licensee wish to terminate its license to any particular patent application or patent, Licensee may elect to do so by
providing written notice to Caltech at least sixty (60) days in advance. Licensee is responsible for all patent costs incurred up until the date of its election and Licensee’s subsequent reimbursement obligations of the ongoing patent
costs with respect to said patent application or patent will be terminated. Upon such election, Caltech may, at its option, continue such prosecution or maintenance, although any patent or patent application resulting from such prosecution or
maintenance will thereafter no longer be subject to the licenses granted in Section 2.1 hereunder. In the absence of proper election as described above, non-payment of any portion of patent costs, whether
to Caltech or directly to the prosecuting law firm will be considered monetary breach pursuant to Section 10.2. 

4.6    Foreign Patent Applications. Caltech shall file and prosecute foreign regional and national
patent applications at the request of Licensee, provided that Licensee is reimbursing patent expenses in accordance with Sections 4.4 and 4.5. Caltech may require Licensee to make an advance payment on anticipated foreign patent expenses. In such
cases, Licensee will be provided a quote for the expenses, and Licensee shall make an advance payment on the anticipated expenses within thirty (30) days before the patent applications are filed or patent prosecution actions are due. 

ARTICLE 5 
 CONSIDERATION

 5.1    Timing and Computation. All royalties hereunder (except for annual minimum
royalties) shall be computed on a quarterly basis for the quarters ending March 31st, June 30th, September 30th, and December 31st of each calendar year. Royalties for each such quarter shall be due and payable within seventy-five (75) days after the
end of such quarter. 
 5.2    License Issue Fee. Licensee shall pay to Caltech a License Issue Fee
in the amount of [***]. The License Issue Fee is nonrefundable and is due 

  
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fourteen (14) days from the complete execution of this Agreement. 

5.3    Royalty on Valid Claims. For any country in which the Exclusively Licensed Patent Rights
include a Valid Claim where the Licensed Products are made, used, or sold, Licensee shall pay Caltech a royalty of [***] of Net Revenues. Royalties due under this Section 5.3 shall be payable on a country-by-country and Licensed Product-by-Licensed Product basis until the expiration of the last-to-expire issued Valid Claim covering such Licensed Product in such country. 

5.4    Royalty on Technology. For any country in which the Exclusively Licensed Patent Rights do not
include a Valid Claim, Licensee shall pay Caltech a royalty of [***] of Not Revenues for a period of seven (7) years from a first commercial sale. 

5.5    Bundled Products and Services. In the event that Licensed Products are sold,
licensed, distributed or used in combination with one or more other products or services which are not Licensed Products, the Net Revenues for such combination products will be calculated on a country-by-country basis by multiplying actual net sales (calculated on the basis as if they were Net Revenues) of such combination products by the fraction A/(A+B) where A is the average invoice price,
during the relevant quarterly period, of the Licensed Product when sold or licensed separately by Licensee or an Affiliate, and B is the average invoice price during such period of any other product(s) or services in the combination when sold or
licensed separately by Licensee or an Affiliate. If the products or services in the combination that are not Licensed Products have not been sold or licensed separately by Licensee or a Affiliate in the relevant quarterly period, Net Revenues shall
be calculated by multiplying actual net sales (calculated on a basis as if they were Net Revenues) of such combination products by the fraction A/C where A is the average invoice price, during the last quarterly period, of the Licensed Product when
sold or licensed separately and C is the average invoice price of the combination product during such period. If the Licensed Product has not been sold or licensed separately by Licensee or a Affiliate in the last quarterly period, regardless of
whether the combination product without the Licensed Product is sold or licensed separately, Net Revenues shall be calculated as in the 

  
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immediately preceding sentence except that A shall be the total manufacturing cost of the Licensed Product and C shall be the total manufacturing cost of the combination. 

5.6    Royalty on Sublicensing Revenue. Licensee shall pay Caltech [***] of the Sublicensing Revenue.

 5.7    License Maintenance Fees; Minimum Annual Royalties. A license maintenance fee of [***] is
due to Caltech one year from the Effective Date and each anniversary thereof prior to the first commercial sale of a lens Licensed Product. A minimum annual royalty of [***] is due to Caltech each anniversary of the Effective Date following the
first commercial sale of a Licensed Product. Any royalties paid under Sections 5.3, 5.4, 5.5, and 5.6 for the one-year period preceding the date of payment of the minimum annual royalty shall be creditable
against the annual minimum. Caltech shall have the right to terminate this Agreement pursuant to Section 10.2 (Termination for Monetary Breach) for failure to pay such minimum annual royalty. 

5.8    Third Party Royalty Offset; No Multiple Royalties. If Licensee or an Affiliate is required to
make any payment (including, but not limited to, royalties or other license fees) to one or more third parties to obtain a patent license in the absence of which it could not legally make, import, use, sell, or offer for sale Licensed Products in
any country, and Licensee provides Caltech with reasonably satisfactory evidence of such third-party payments, [***] of such third-party payments shall be creditable against royalties owed to Caltech hereunder, provided that in no one year shall the
aggregate of all such expenses be credited against more than [***] of royalty payments to Caltech. Any greater amount of such expenses may be carried over and credited against royalties owed in future years, subject in every case to the [***] annual
cap for that year. Licensee shall not be required to pay multiple royalties under this Agreement and the existing Exclusive License Agreement between Caltech and Licensee dated November 20, 2003 (the “2003 Agreement”) on the same Net
Revenues. In the event that Licensee or its Affiliate or Sublicensee sells any Licensed Product for which royalties would be due under this Agreement and the 2003 Agreement, the royalties thereon shall be allocated between this Agreement and the
2003 Agreement based upon the 

  
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relative value of the licenses granted under such agreements with respect to the applicable Licensed Product, as reasonably determined by Licensee. 

5.9    Currency Conversion. For the purpose of determining royalties payable under this Agreement,
any royalties or other revenues Licensee receives from Sublicensees in currencies other than U.S. dollars and any Net Revenues denominated in currencies other than U.S. dollars shall be converted into U.S. dollars according to the noon buying rate
of the Federal Reserve Bank of New York on the last business day of the quarterly period for which such royalties are calculated. 

5.10    Recordkeeping and Audits. Licensee shall keep complete and accurate production and accounting
records relating to commercialization (including via sublicensing) of Licensed Products for three (3) years following the end of the calendar year to which they pertain. Caltech shall be entitled to appoint an independent CPA to periodically
audit such records, upon reasonable advance notice and during Licensee’s normal business hours, to determine Licensee’s compliance with the provisions of this Article 5. Licensee shall reimburse Caltech one hundred percent (100%) of any
unpaid royalties resulting from any noncompliance discovered as a result of any such audit; and Licensee shall also pay Caltech a late payment fee of one percent (1%) per month of the entire amount of any underpayment. Such audits shall be at
Caltech’s expense, and shall occur no more than once annually, except that in the case of any underpayment exceeding ten percent (10%) of the amount actually paid: (a) Licensee shall reimburse Caltech for the cost of such audit; and
(b) Caltech shall be entitled to conduct additional quarterly audits, at Licensee’s expense, until any such audit demonstrates that Licensee is in compliance with its obligations. Licensee must flow this requirement down to all
Sublicensees. 
 5.11    Royalty Reports. For so long as royalties are payable under this
Agreement, Licensee shall provide a royalty report in writing to Caltech on or before the payment due date for the applicable quarter in accordance with Section 5.1. The report shall include, for all Licensed Products that are sold or otherwise
distributed by Licensee, Affiliates, and each Sublicensee, on a country-by-country basis: 

(a)    a description of all Licensed Products; 

  
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 (b)    number of Licensed Products sold; 

(c)    total revenues from each of the Licensed Products received by Licensee, Affiliates, and Sublicensees; 

(d)    Deductible Expenses for each of the Licensed Products; 

(e)    Net Revenues from Licensed Product(s); 

(f)    royalties on Net Revenues due to Caltech; 

(g)    Sublicensing Revenue, including supporting data; 

(h)    foreign currency conversion rate and calculations (if applicable) and total royalties due; and 

(i)    names and contact information for all Sublicensees having a sublicense or option therefor any time during the
particular royalty period. 
 Each such report shall also set forth an explanation of the calculation of the royalties payable hereunder and be accompanied
by payment of the royalties shown by said report to be due Caltech. 
 ARTICLE 6 

ASSIGNMENT AND TRANSFER 

6.1    “Assign” (including all variations thereof) shall mean to transfer, including Assignment of rights
and delegation of duties. 
 6.2    Assignment by Caltech. This Agreement shall be binding upon and
inure to the benefit of any successor or Assignee of Caltech. 
 6.3    Assignment by Licensee.
Licensee cannot Assign this Agreement without the prior written consent of Caltech, except that Licensee may Assign this Agreement without the prior written consent of Caltech to any Affiliate or any successor of, or purchaser of substantially all
of, the assets or operations of its business to which this Agreement pertains. Any permitted Assignee shall succeed to all of the rights and obligations of Licensee under this Agreement. 

6.4    Any Other Assignment by Licensee. Any other attempt to Assign this Agreement or to
pledge any of the license rights granted in this Agreement as security for any creditor by 

  
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Licensee is null and void from the beginning. 

6.5    Conditions of Assignment. Prior to any Assignment, the following conditions must be met: 

(a)    Licensee must give Caltech thirty (30) days prior written notice of the assignment, including the new
Assignee’s contact information; and 
 (b)    the new Assignee must agree in writing to Caltech to be bound by this
Agreement; and. 
 (c)    Caltech must have provided written permission to Assign the agreement, and (i) received a
[***] of the transaction assignment fee; or (ii) Licensee may establish that an additional royalty be paid to Caltech for the sales of Licensed Products by the Assignee of this Agreement in lieu of any assignment fee. If Licensee chooses to pay a
royalty in lieu of an assignment fee, Caltech and Licensee agree to amend this Agreement in good faith to address the royalty considerations prior to the Assignment of this Agreement. 

6.6    After the Assignment. Upon a permitted Assignment by Licensee of this Agreement
pursuant to this Article, Licensee will be released of liability under this Agreement and the term “Licensee” in this Agreement will mean the Assignee. 

ARTICLE 7 
 DUE DILIGENCE

 7.1    Commercialization. Licensee agrees to use commercially reasonable efforts to
commercially introduce and reasonably fulfill market demand for Licensed Products in the Field as soon as practical. Licensee shall be deemed to have satisfied its obligations under this Section 7.1 if Licensee has an ongoing and active research,
development or marketing program, directed primarily toward commercial production, use, and sale of one or more Licensed Products. Any efforts of Licensee’s Affiliates or Sublicensees shall be considered efforts of Licensee for the sole purpose
of determining Licensee’s compliance with its obligations under this Section 7.1. 

7.2    Reporting. On each yearly anniversary of the Effective Date, Licensee shall issue to Caltech a
detailed written report on its progress in introducing commercial Licensed 

  
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Product(s). The report will be considered confidential information of Licensee subject to Article 11. 

7.3    Failure to Commercialize. If Licensee is not fulfilling its obligations under Section 7.1
with respect to the Field, and Caltech so notifies Licensee in writing, Caltech and Licensee shall negotiate in good faith any additional efforts to be taken by Licensee. If the Parties do not reach agreement within thirty (30) days of
Caltech’s written notice, Caltech may terminate this Agreement pursuant to Article 10. 
 ARTICLE 8 

LITIGATION 

8.1    Enforcement. Both Caltech and Licensee agree to promptly notify the other in writing should
either party become aware of possible infringement by a third party of the Exclusively Licensed Patent Rights or Improvement Patent Rights. Upon notice and exchange of evidence of such infringement, Licensee and Caltech shall meet and confer within
thirty (30) days to discuss how best to proceed with enforcement. During that meeting, Caltech may request that Licensee take steps to enforce the Exclusively Licensed Patent Rights or Improvement Patent Rights. If Licensee does not, within
ninety (90) days of such request, elect to file an action against the alleged infringer in the Field, Caltech will have all rights required by law to initiate an enforcement action in Caltech’s name at Caltech’s expense. Licensee
shall be entitled to control any such action initiated by it, but will keep Caltech apprised of the status of such action or suit, and will consult with Caltech should any issues arise in litigation that may affect Caltech or other Caltech
licensees. If Caltech is. required by law to join in such an action, or is subject to discovery requests in such an action, it will do so provided that: (a) Caltech will be represented by outside counsel of its choice; and (b) Licensee
shall reimburse Caltech for all reasonable out-of-pocket expenses (including Caltech’s outside counsel) and all reasonable internal Caltech expenses in connection
with the action. Licensee may take appropriate action to terminate or prevent the infringement; provided, however that Licensee may not bring an action against an accused infringer without prior written approval of Caltech, where approval will not
be unreasonably withheld, delayed or conditioned, and provided, further, that Caltech shall have the right to withhold such approval only if Caltech reasonably establishes and confirms to Licensee in writing, that withholding such approval would
materially further a substantial 

  
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purpose of Caltech relevant to its non-profit status, academic mission and reputation. Caltech shall notify Licensee in writing within thirty
(30) days of receiving Licensee’s request for approval, if Caltech elects to withhold such approval (such notice a “Disapproval Notice”). Failure by Caltech to provide a Disapproval Notice within such thirty (30) day period
shall be deemed approval. In the event that Caltech provides a Disapproval Notice, Licensee shall have no obligation to pay any royalties on any Net Revenues made during the period from the Disapproval Notice until the earlier of (A) the date,
if any, that Caltech subsequently grants an approval for Licensee to bring such action against an accused infringer or (B) the date such infringement ceases. Caltech further agrees that if a Disapproval Notice is provided by Caltech, Caltech
will at Licensee’s request cooperate with Licensee in good faith, using diligent efforts, in connection with Licensee’s efforts to abate the subject infringement activity via alternative dispute resolution means that do not involve
litigation. Where settlement terms with an accused infringer requires any admission or forbearance of any right on the part of Caltech, Licensee may not enter into a settlement agreement with an accused infringer without prior written approval of
Caltech, where approval will not be unreasonably withheld, delayed or conditioned. 
 8.2    Other Defensive
Litigation. If a declaratory judgment action alleging invalidity, unenforceability or non-infringement of any of the Exclusively Licensed Patent Rights or Improvement Patent Rights is brought
against Licensee and/or Caltech, Licensee shall have the first right to control the defense of such action at its own expense. Caltech may elect to control the defense of such action if Licensee declines to do so, and if Caltech so elects it shall
bear all the costs of the action and shall make settlements only with the advice and written consent of Licensee. If mutually agreed between the Parties, Caltech may also undertake the defense of any interference, opposition or similar procedure
with respect to the Exclusively Licensed Patent Rights or Improvement Patent Rights, providing that Caltech bears all the costs thereof and makes settlements only with the advice and written consent of Licensee. 

8.3    Cooperation. In the event either party takes control of a legal action or defense pursuant to
Sections 8.1 or 8.2 (thus becoming the Controlling Party), the non-controlling party shall fully cooperate with and supply all assistance reasonably requested by the Controlling Party, including by:
(a) using commercially reasonable efforts to have its employees consult and testify when requested; (b) making available relevant records, papers, information, samples, 

  
 -16- 

 
specimens, and the like; and (c) joining any such action in which it is an indispensable party. The Controlling Party shall bear the reasonable expenses (including salary and travel costs)
incurred by the non-controlling party in providing such assistance and cooperation. The Controlling Party shall keep the non-controlling party reasonably informed of the
progress of the action or defense. If the non-controlling party is not required by law to join the action, that party shall nevertheless be entitled to participate in such action or defense at its own expense
and using counsel of its choice. As a condition of controlling any action or defense involving the Exclusively Licensed Patent Rights or Improvement Patent Rights pursuant to Sections 8.1 or 8.2, Licensee shall use commercially reasonable efforts to
preserve the validity and enforceability thereof. 
 8.4    Settlement. If Licensee controls any action or
defense under Section 8.1 or 8.2, then Licensee shall have the right to settle any claims thereunder, but only upon terms and conditions that are reasonably acceptable to Caltech.. Should Licensee elect to abandon such an action or defense
other than pursuant to a settlement with the alleged infringer that is reasonably acceptable to Caltech, Licensee shall give timely advance notice to Caltech who, if it so desires, may continue the action or defense. 

8.5    Recoveries. Any amounts paid by third parties to Caltech or Licensee as the result of an action or
defense pursuant to Sections 8.1 or 8.2 (including in satisfaction of a judgment or pursuant to a settlement) shall first be applied to reimbursement of the unreimbursed expenses (including attorneys’ fees and expert fees) incurred by each
party. In the event that Caltech is the Controlling Party, the remainder shall be retained by Caltech. In the event that Licensee is the Controlling Party, any remainder shall be divided between the Parties as follows: 

(a)    To the extent the amount recovered reflects Licensee’s lost profits or royalties, Licensee
shall retain the remainder, less the amount of any royalties that would have been due Caltech under Article 5 on account of such lost profits or royalties, provided that Licensee shall in any event retain at least [***] of the remainder; and 

  
 -17- 

 (b)    To the extent the amount recovered does not
reflect Licensee’s lost profits or royalties (e.g., special or punitive damages), [***] shall be paid to Licensee, and [***] to Caltech. 

8.6    Infringement Defense. If Licensee, its Affiliate or Sublicensee, distributor or
other customer issued by a third party charging infringement of patent rights that cover a Licensed Product, Licensee will promptly notify Caltech. Licensee will be responsible for the expenses of, and will be entitled to control the defense or
settlement of, any such action(s). 
 8.7    Marking. Licensee agrees to mark the Licensed Products
with the numbers of applicable issued patents within the Exclusively Licensed Patent Rights or Improvement Patent Rights, unless such marking is not legally required or commercially infeasible in accordance with normal commercial practices in the
Field, in which case the Parties shall cooperate to devise a commercially reasonable alternative to such marking. 

8.8    Expiration or Abandonment. In a case where one or more patents or particular claims thereof
within the Exclusively Licensed Patent Rights or Improvement Patent Rights expire, or are abandoned, or are declared invalid or unenforceable by a court of last resort or by a lower court from whose decree no appeal is taken, or certiorari is not
granted within the period allowed therefor, then the effect thereof hereunder shall be: 
 (a)    that such patents or
particular claims shall, as of the date of expiration or abandonment or final decision as the case may be, cease to be included within the Exclusively Licensed Patent Rights or Improvement Patent Rights for the purpose of this Agreement; and 

(b)    that such construction so placed upon the Exclusively Licensed Patent Rights or Improvement Patent Rights by the
court shall be followed from and after the date of entry of the decision, and royalties shall thereafter be payable by Licensee only in accordance with such construction. 

8.9    Adjustment. In the event that any of the contingencies provided for in Section 8.8 occurs,
Caltech agrees to renegotiate in good faith with Licensee a reasonable royalty rate under the remaining Exclusively Licensed Patent Rights or Improvement Patent Rights which are unexpired and in effect and under which Licensee desires to retain a
license. 

  
 -18- 

 8.10    Licensee Challenges. If Licensee or any of its
Affiliates brings an action or proceeding, or assists any third party in bringing an action or proceeding, seeking a declaration or ruling that any claim in any of the Exclusively Licensed Patent Rights or Improvement Patent Rights is invalid or
unenforceable, or asserts that any product does not infringe the Exclusively Licensed Patent Rights or Improvement Patent Rights: 

(a)    during the pendency of such action or proceeding, the royalty rate will be increased to double the royalty rate set
forth in Section 5.3; 
 (b)    should the outcome of such action or proceeding determine that any claim of a
Licensed Patent challenged by Licensee is valid, enforceable, and/or infringed by a Licensed Product, the royalty rate will be increased to triple the royalty rate set forth in Section 5.2 and Licensee shall pay Caltech’s attorneys’
fees, expert witness fees, court costs, third-party costs, and other litigation expenses; 
 (c)    Licensee shall have
no right to recoup any royalties paid before such action or proceeding or during the period in which such action or proceeding is pending (including on appeal); 

(d)    Licensee shall not pay royalties into any escrow or other similar account, but rather shall continue to pay
royalties directly to Caltech; and 
 (e)    Caltech shall have full control and authority to defend the Exclusively
Licensed Patent Rights and Improvement Patent Rights in the action or proceeding. 
 Licensee shall provide written notice to Caltech at
least ninety (90) days before Licensee or any of its Affiliates initiates any action or proceeding seeking a declaration or ruling that any claim of any Licensed Patent is invalid or unenforceable or that any product would not infringe (but for
this Agreement) any claim in the Exclusively Licensed Patent Rights or Improvement Patent Rights, Licensee will include with such written notice an identification of all prior art it believes is material. 

Any dispute regarding the validity or enforceability of any of the Exclusively Licensed Patent Rights or Improvement Patent Rights, or whether
any product would infringe (but for this 

  
 -19- 

 
Agreement) any claim in the Exclusively Licensed Patent Rights or Improvement Patent Rights, shall be litigated exclusively in the U.S. District Court for the Central District of California
situated in the County of Los Angeles, and each Party hereby agrees to submit to the exclusive jurisdiction of such court, and waives any objection to venue, for such purposes. 

ARTICLE 9 

REPRESENTATIONS AND WARRANTIES; INDEMNIFICATION 

9.1    Representations and Warranties of Caltech. Caltech hereby represents and
warrants to Licensee that, to the knowledge of Caltech’s Office of Technology Transfer, as of the Effective Date: 

(a)    there are no outstanding licenses, options or agreements of any kind relating to the Exclusively Licensed Patent
Rights in the Field, other than pursuant to this Agreement herein; 
 (b)    Caltech has the power to grant the rights,
licenses and privileges granted herein and can perform as set forth in this Agreement without violating the terms of any agreement that Caltech has with any third party. 

9.2    Exclusions. The Parties agree that nothing in this Agreement shall be construed as, and CALTECH
HEREBY DISCLAIMS, ANY EXPRESS OR IMPLIED REPRESENTATION, WARRANTY, COVENANT, OR OTHER OBLIGATION: 
 (a)    THAT ANY
PRACTICE BY OR ON BEHALF OF LICENSEE OF ANY INTELLECTUAL PROPERTY LICENSED HEREUNDER IS OR WILL BE FREE FROM INFRINGEMENT OF RIGHTS OF THIRD PARTIES; 

(b)    AS TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON INFRINGEMENT OF THIRD PARTY RIGHTS,
WITH RESPECT TO ANY TECHNOLOGY PROVIDED BY CALTECH TO LICENSEE HEREUNDER. 
 9.3    Indemnification by
Caltech. Caltech shall indemnify, defend and hold harmless Licensee, its officers, agents and employees from and against any and all losses, damages, costs 

  
 -20- 

 
and expenses (including attorneys’ fees) arising out of a material breach by Caltech of its representations and warranties (“Indemnification Claims”), except to the extent
involving or relating to a material breach by Licensee of its representations and warranties, provided that: (a) Caltech is notified promptly of any Indemnification Claims; (b) Caltech has the sole right to control and defend or settle any
litigation within the scope of this indemnity; and (c) all indemnified parties cooperate to the extent necessary in the defense of any Indemnification Claims. The foregoing shall be the sole and exclusive remedy of Licensee for breach of
Section 9.1. 
 9.4    Indemnification by Licensee. Licensee shall indemnity, defend and hold
harmless Caltech, its trustees, officers, agents and employees from and against any and all losses, damages, costs and expenses (including reasonable attorneys’ fees) arising out of third party claims brought against Caltech relating to the
manufacture, sale, licensing, distribution or use of Licensed Products by or on behalf of Licensee or its Affiliates (“Third Party Claims”), except to the extent involving or relating to a material breach by Caltech of its representations
and warranties, provided that: (a) Licensee is notified promptly of any Third Party Claims; and (b) all indemnified parties cooperate to the extent necessary in the defense of any Third Party Claims. 

9.5    Certain Damages. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL, CONSEQUENTIAL,
INCIDENTAL, OR INDIRECT DAMAGES ARISING OUT OF THIS AGREEMENT, HOWEVER CAUSED, UNDER ANY THEORY OF LIABILITY. 
 ARTICLE 10 

TERM AND TERMINATION 

10.1    Term. This Agreement and the rights and licenses hereunder shall take effect on the Effective
Date and continue until the expiration, revocation, invalidation, or unenforceability of the Exclusively Licensed Patent Rights and Improvement Patent Rights licensed to Licensee hereunder, or as long as royalties are due pursuant to Article 5 of
this Agreement, unless earlier terminated pursuant to the terms of this Agreement. Upon expiration of this Agreement under this Section 10.1, Licensee, its Affiliates and Sublicensees shall have a
paid-up, worldwide non-exclusive license under the Technology for use in the Field. 

  
 -21- 

 10.2    Termination for Monetary Breach.
Caltech shall have the right to terminate this Agreement and the rights and licenses hereunder If Licensee fails to make any payment due including patent expenses, minimum annual royalties or royalties hereunder and Licensee continues to fail to
make the payment (either to Caltech directly or by placing any disputed amount into an interest-bearing escrow account to be released when the dispute is resolved) for a period of fourteen (14) days after receiving written notice from Caltech
specifying Licensee’s failure. Upon any such termination, (a) Licensee shall have six (6) months to complete the manufacture of any Licensed Products that are then works in progress for sale and to sell its inventory of Licensed
Products, provided that Licensee pays the applicable royalties, and (b) any sublicenses shall survive termination in accordance with Section 2.3. 

10.3     Termination for Non-Monetary Breach. Non-monetary breach shall include, but is not limited to: (a) failure to fulfill the obligations in Article 7 (Due Diligence), or Section 8.7 (Marking); and (b) pursuit of exploitation of Exclusively
Licensed Patent Rights or Improvement Patent Rights outside the field. Non-monetary breach shall include the cessation of Licensee’s operations in general, or the cessation of Licensee’s commercial
activities in the Field in particular. If this Agreement is materially breached by either party, the non-breaching party may elect to give the breaching party written notice describing the alleged breach. If
the breaching party has not cured such breach within thirty (30) days after receipt of such notice, the notifying party will be entitled, in addition to any other rights it may have under this Agreement, to terminate this Agreement and the
rights and licenses hereunder; such termination shall be deemed to have been effective as of the date of the material breach. 

10.4    Dispute of Breach. Notwithstanding Sections 10.2 and 10.3, if Licensee disputes any alleged
breach in writing within seven (7) days of receiving written notice from Caltech regarding the alleged breach, Caltech shall not have the right to terminate this Agreement unless and until the mediation proceedings as described in Article 12
have concluded, and (a) if the mediation results in the parties settling such dispute, Caltech may terminate this Agreement in accordance with the terms of the settlement if Licensee fails to comply with the terms of such settlement, or
(b) if the mediation fails to settle such dispute, Caltech may terminate this Agreement if Licensee fails to cure such breach within thirty (30) days after the conclusion of the mediation proceedings. If the parties agree pursuant to
Article 12, whether prior to or following 

  
 -22- 

 
the conclusion of the mediation proceedings, to settle such dispute by arbitration, Caltech shall not have the right to terminate this Agreement unless and until an arbitrator determines in a
written decision delivered to the parties that such breach occurred, and Licensee fails to cure such breach within thirty (30) days after such determination. 

10.5    Bankruptcy or Insolvency. This Agreement shall terminate, without notice, (a) upon
Licensee’s filing for bankruptcy, receivership, or bankruptcy proceedings or any other proceedings for the settlement of Licensee’s debts; (b) upon Licensee making an assignment for the benefit of creditors; or (c) upon
Licensee’s dissolution or ceasing to do business. Caltech may terminate this Agreement upon the insolvency of the Licensee. Licensee must inform Caltech of its intention to file a voluntary petition of bankruptcy, or of another’s intention
to file an involuntary petition of bankruptcy, at least thirty (30) days prior to the filing of such a petition. Licensee’s filing without conforming to this requirement shall be deemed a material,
pre-petition incurable breach of this Agreement which will cause this Agreement to terminate without notice upon such filing. 

10.6    Accrued Liabilities. Termination of this Agreement for any reason shall not release any party
hereto from any liability which, at the time of such termination, has already accrued to the other party or which is attributable to a period prior to such termination, nor preclude either party from pursuing any rights and remedies it may have
hereunder or at law or in equity which accrued or are based upon any event occurring prior to such termination. 

10.7    Survival. The following shall survive any expiration or termination (in whole or in part) of
this Agreement: (a) any provision plainly indicating that it should survive; (b) any royalty due and payable on account of activity prior to the termination; and (c) Sections or Articles 5.10, 9, 11,12,13, and 14.7. 

ARTICLE 11 

CONFIDENTIALITY 

11.1    Nondisclosure and Nonuse. Each party agrees not to disclose any of the terms of this
Agreement to any third party without the prior written consent of the other party, except to prospective investors, sublicensees and acquirers, and to such party’s accountants, attorneys and other professional advisors, or as required by
securities or other applicable laws. Except 

  
 -23- 

 
with respect to the above third parties, each party agrees not to disclose the subject matter of the Exclusively Licensed Patent Rights or Improvement Patent Rights to any third party unless
under an appropriate nondisclosure agreement (“NDA”) that is mutually agreed upon by Caltech and Licensee. 

11.2    Permitted Disclosures. Notwithstanding the foregoing, each party may disclose:
(a) confidential information as required by securities or other applicable laws or pursuant to governmental proceedings, provided that the disclosing party gives advance written notice to the other party and reasonably cooperates therewith in
limiting the disclosure to only those third parties having a need to know; and (b) the fact that Licensee has been granted a license under the Exclusively Licensed Patent Rights and Improvement Patent Rights. 

ARTICLE 12 
 DISPUTE
RESOLUTION 
 12.1    No issue of the validity of any of the licensed patents, enforceability of any of the licensed
patents, infringement of any of the licensed patents, the scope of any of the claims of the licensed patents and/or any dispute that includes any such issue, shall be subject to mediation under this Agreement unless otherwise agreed by the Parties
in writing. In addition, no dispute between the Parties as to any matter relating to this Agreement shall be subject to arbitration unless otherwise agreed by the Parties in writing. 

12.2    Except for those issues and/or disputes described in Section 10.2, any dispute between the Parties concerning
the interpretation, construction or application of any terms, covenants or conditions of this Agreement shall be resolved by mediation. 

12.3    Mediation shall be in the Los Angeles office of ADR Services, Inc. (http://www.adrservices.org/) before an
attorney or a retired judge with experience in intellectual property or patent matters, and contract, commercial or business disputes selected by the Parties from candidates proposed by ADR Services, Inc. in accordance with the ADR Mediation Rules
and Procedures in force at the time the mediation is initiated. 
 12.4    The requirement for mediation shall not be
deemed a waiver of any right of termination under this Agreement, subject to the provisions of Section 10.4. 

  
 -24- 

 12.5    Each party shall bear its own expenses incurred in connection
with any attempt to resolve disputes hereunder, but the compensation and expenses of the mediator shall be borne equally. 
 ARTICLE 13

 PRODUCT LIABILITY 

13.1    Indemnification. Licensee agrees that Caltech (including its trustees, officers, faculty and
employees) shall have no liability to Licensee, its Affiliates, their customers or any third party for any claims, demands, losses, costs, or other damages which may result from personal injury, death, or property damage related to the Licensed
Products (“Product Liability Claims”). Licensee agrees to defend, indemnify, and hold harmless Caltech, its trustees, officers, faculty and employees from any such Product Liability Claims, provided that: (a) Licensee is
notified promptly of any Product Liability Claims; (b) Licensee has the sole right to control and defend or settle any litigation within the scope of this indemnity; and (c) all indemnified parties cooperate to the extent necessary in the
defense of any Claims. 
 13.2    Insurance. Prior to such time as Licensee begins to manufacture,
sell, license, distribute or use Licensed Products, Licensee shall at its sole expense procure and maintain policies of comprehensive general liability insurance in amounts not less than one million dollars ($1,000,000.00) per incident and three
million dollars ($3,000,000.00) in annual aggregate, and naming those indemnified under Section 13.1 as additional insureds. Such comprehensive general liability insurance shall provide: (a) product liability coverage and (b) broad
form contractual liability coverage for Licensee’s indemnification of Caltech under Section 13.1. In the event the aforesaid product liability coverage does not provide for occurrence liability, Licensee shall maintain such comprehensive
general liability insurance for a reasonable period of not less than five (5) years after it has ceased commercial distribution or use of any Licensed Product. Licensee shall provide Caltech with written evidence of such insurance upon request
of Caltech. 
 13.3    Loss of Coverage. Licensee shall provide Caltech with notice at least
fifteen (15) days prior to any cancellation, non-renewal or material change in such insurance, to the extent Licensee receives advance notice of such matters from its insurer. If Licensee docs not obtain

  
 -25- 

 replacement insurance providing comparable coverage within sixty (60) days following the date of such
cancellation, non-renewal or material change, Caltech shall have the right to terminate this Agreement effective at the end of such sixty (60) day period without any additional waiting period; provided
that if Licensee provides credible written evidence that it has used reasonable efforts, but is unable, to obtain the required insurance, Caltech shall not have the right to terminate this Agreement, and Caltech instead shall cooperate with Licensee
to either (at Caltech’s discretion) grant a limited waiver of Licensee’s obligations under this Article or assist Licensee in identifying a carrier to provide such insurance or in developing a program for self-insurance or other
alternative measures. 
 ARTICLE 14 

MISCELLANEOUS 

14.1    Notices. All notices, requests, demands and other communications hereunder shall be in English and
shall be given in writing and shall be: (a) personally delivered; (b) sent by telecopier, facsimile transmission or other electronic means of transmitting written documents with confirmation of receipt; or (c) sent to the Parties at
their respective addresses indicated herein by registered or certified mail, return receipt requested and postage prepaid, or by private overnight mail courier services with confirmation of receipt. The respective addresses to be used for all such
notices, demands or requests are as follows: 
  

	 	(a)	 If to CALTECH, to: 

California Institute of Technology 

1200 East California Boulevard 

Mail Code 6-32 

Pasadena, CA 91125 
 ATTN: Chief
Innovation Officer 
 Phone No.: (626) 395-3066 

Fax No.: (626) 356-2486 

Email: 
 Or to such other person
or address as Caltech shall furnish to Licensee in writing. 

  
 -26- 

	 	(b)	 If to LICENSEE, to: 

Calhoun Vision, Inc. 
 171 N.
Altadena Dr. Suite 201 
 Pasadena, CA 91107 

ATTN: Richard Drinkward, CFO 

Phone No.: 
 If personally
delivered, such communication shall be deemed delivered upon actual receipt by the “attention” addressee or a person authorized to accept for such addressee; if transmitted by facsimile pursuant to this Section 14.1, such
communication shall be deemed delivered the next business day after transmission, provided that sender has a transmission confirmation sheet indicating successful receipt at the receiving facsimile machine; if sent by overnight courier pursuant to
this Section 14.1, such communication shall be deemed delivered upon receipt by the “attention” addressee or a person authorized to accept for such addressee; and if sent by mail pursuant to this Section 14.1, such communication
shall be deemed delivered as of the date of delivery indicated on the receipt issued by the relevant postal service. If the Licensee fails or refuses to accept delivery by courier or mail at the address most recently provided under this
Section 14.1, communication shall be deemed delivered as of the date of such failure or refusal. Any party to this Agreement may change its address for the purposes of this Agreement by giving notice thereof in accordance with this
Section 14.1. 
 14.2    Entire Agreement. This Agreement sets forth the complete agreement of
the Parties concerning the subject matter hereof. No claimed oral agreement in respect thereto shall be considered as any part hereof. No amendment or change in any of the terms hereof subsequent to the execution hereof shall have any force or
effect unless agreed to in writing by duly authorized representatives of the Parties. 

14.3    Waiver. No waiver of any provision of this Agreement shall be effective unless in writing. No
waiver shall be deemed to be, or shall constitute, a waiver of a breach of any other provision of this Agreement, whether or not similar, nor shall such waiver constitute a continuing waiver of such breach unless otherwise expressly provided in such
waiver. 
 14.4    Severability. Each provision contained in this Agreement is declared to

  
 -27- 

 
constitute a separate and distinct covenant and provision and to be severable from all other separate, distinct covenants and provisions. It is agreed that should any clause, condition or term,
or any part thereof, contained in this Agreement be unenforceable or prohibited by law or by any present or future legislation then: (a) such clause, condition, term or part thereof, shall be amended, and is hereby amended, so as to be in
compliance with the legislation or law; but (b) if such clause, condition or term, or part thereof, cannot be amended so as to be in compliance with the legislation or law, then such clause, condition, term or part thereof shall be severed from
this Agreement and all the rest of the clauses, terms and conditions or parts thereof contained in this Agreement shall remain unimpaired. 

14.5    Construction. The headings in this Agreement are inserted for convenience only and shall not
constitute a part hereof. Unless expressly noted, the term “include” (including all variations thereof) shall be construed as merely exemplary rather than as a term of limitation. 

14.6    Counterparts/Facsimiles. This Agreement may be executed in one or more counterparts, all of
which taken together shall be deemed one original. Facsimile and scanned signatures shall be deemed original. 

14.7    Governing Law. This Agreement, the legal relations between the Parties and any action,
whether contractual or non-contractual, instituted by any party with respect to matters arising under or growing out of or in connection with or in respect of this Agreement shall be governed by and construed
in accordance with the internal laws of the State of California, excluding any conflict of law or choice of law rules that may direct the application of the laws of another jurisdiction, and be brought in the state or federal courts in Los Angeles,
California. 
 14.8    No Endorsement. Licensee agrees that it shall not make any form of
representation or statement which would constitute an express or implied endorsement by Caltech or the Jet Propulsion Laboratory (JPL) of any Licensed Product, and that it shall not authorize others to do so, without first having obtained written
approval from Caltech, except as may be required by governmental law, rule or regulation. 
 14.9    Export
Regulations. This Agreement is subject in all respects to the laws and regulations of the United States of America, including the Export Administration Act of 1979, as 

  
 -28- 

 
amended, and any regulations thereunder, Licensee, its Affiliates, or its Sublicenses will not in any form export, re-export, resell, ship, divert, or
cause to be exported, re-exported, resold, shipped, or diverted, directly or indirectly, any product or technical data or software of the other party, or the direct product of such technical data or software,
to any country for which the United States Government or any agency thereof requires an export license or other governmental approval without first obtaining such license or approval. 

14.10    Force Majeure. Neither party shall lose any rights hereunder or be liable to the other party for
damages or losses (except for payment obligations) on account of failure of performance by the defaulting party if the failure is occasioned by war, strike, fire, Act of God, earthquake, flood, lockout, embargo, governmental acts or orders or
restrictions, failure of suppliers, or any other reason where failure to perform is beyond the reasonable control and not caused by the negligence or intentional conduct or misconduct of the nonperforming party, and such party has exerted all
reasonable efforts to avoid or remedy such force majeure; provided, however, that in no event shall a party be required to settle any labor dispute or disturbance. 

IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed: 

 

							
	Date: 7/28/15	 		 	CALIFORNIA INSTITUTE OF TECHNOLOGY (Caltech)
				
		 		 	By:	 	 /s/ Case Cortese

		 		 	Name:	 	Case Cortese, PhD
		 		 	Title:	 	Associate Director
			
	Date: July 27, 2015	 		 	CALHOUN VISION, INC (Licensee)
				
		 		 	By:	 	 /s/ Richard B. Drinkward

		 		 	Name:	 	Richard B. Drinkward
		 		 	Title:	 	CFO

  
 -29- 

 Exhibit A 

Exclusively Licensed Patent Rights 
  

 

							
	 CIT #
	  	 Serial No.
	  	 Filing Date
	  	 Title and Inventors

	5409	  	13/177,483	  	07/06/2011	  	On-Demand Photoinitiated Polymerization Andrew J. Boydston; Robert H. Grubbs; Nebojsa Momcilovic; Christopher Scot Daeffler
				
	5409-D	  	14/071,947	  	11/05/2013	  	On-Demand Photoinitiated Polymerization Andrew J. Boydston; Robert H. Grubbs; Christopher Scot Daeffler; Nebojsa Momcilovic
				
	5409-EPO	  	11804307.4	  	07/06/2011	  	On-Demand Photoinitiated Polymerization Andrew J. Boydston; Robert H. Grubbs; Christopher Scot Daeffler; Nebojsa Momcilovic
				
	 5409-P
	  	61/223,314	  	07/06/2009	  	On-Demand Photoinitiated Polymerization Andrew J. Boydston; Robert H. Grubbs
				
	5409-P2	  	61/362,249	  	07/07/2010	  	On-Demand Photoinitiated Polymerization Andrew J. Boydston; Robert H. Grubbs
				
	5409-PCT	  	PCT/US2011/043097	  	07/06/2011	  	On-Demand Photoinitiated Polymerization Andrew J. Boydston; Robert H. Grubbs; Nebojsa Momcilovic
				
	6472	  	14/636,329	  	03/03/2015	  	Light-Triggered Shape-Changeable Hydrogels And Their Use in Optical Devices. Robert H. Grubbs
				
	6472-P	  	61/776,476	  	03/11/2013	  	Light-Triggered Shape-Changeable Hydrogels And Their Use in Optical Devices. Robert H. Grubbs
				
	6472-P2	  	61/952,280	  	03/13/2014	  	Light-Triggered Shape-Changeable Hydrogels And Their Use in Optical Devices. Robert H. Grubbs
				
	6472-PCT	  	PCT/US2015/018406	  	03/03/2015	  	Light-Triggered Shape-Changeable Hydrogels And Their Use in Optical Devices. Robert H. Grubbs
				
	7186-P	  	62/161,415	  	05/14/2015	  	Light Adjustable Intraocular Lens using Upconverting Nanoparticles and Near IR Light Robert H. Grubbs; Shane L. Mangold
				
	7226-P	  	62/184,128	  	06/24/2015	  	An Aqueous Gel Whose Shape Can Be Changed with Long Wavelength (>800nm) Light. Robert H. Grubbs

  
 -30- 

 Exhibit B 

Technology 
  

					
	 Name
	  	 Description
	 
		  			
		  			
		  			
		  			

  
 -31-EX-10.7

 Exhibit 10.7 

[***] = Certain information contained in this document, marked by brackets, has been omitted because it is both not material and would be competitively
harmful if publicly disclosed. 
 EXCLUSIVE LICENSE AGREEMENT 

between 
 THE REGENTS OF THE
UNIVERSITY OF CALIFORNIA 
 and 

CALHOUN VISION, INC. 
 for 

SILICONE INTRAOCULAR LENSES EMBEDDED WITH PHOTOSENSITIVE 

COMPOSITIONS (SF99-076) 

and 
 METHODS AND PHARMACEUTICAL
COMPOSITIONS FOR THE CLOSURE OF 
 RETINAL BREAKS (SF99-026) 

 EXCLUSIVE LICENSE AGREEMENT 

for 
 SILICONE INTRAOCULAR LENSES
EMBEDDED WITH PHOTOSENSITIVE 
 COMPOSITIONS (SF99-076) 

and 
 METHODS AND PHARMACEUTICAL
COMPOSITIONS FOR THE CLOSURE OF 
 RETINAL BREAKS (SF99-026) 

This license agreement (the “Agreement”) is made effective March 1, 2000 (the “Effective Date”) between THE REGENTS
OF THE UNIVERSITY OF CALIFORNIA, a California corporation having its statewide administrative offices at 1111 Franklin Street, Oakland, California 94607-5200, (“The Regents”), and acting through its Office of Technology Management,
University of California San Francisco, 1294 Ninth Avenue - Suite 1, Box 1209, San Francisco, CA 94143-1209 (“UCSF”), and CALHOUN VISION INC., a California corporation having a principal place of business at [***], (the
“Licensee”). 
 BACKGROUND 

A.    Certain research performed at The University of California San Francisco (“UCSF”) and at the California
Institute of Technology (“Caltech”) resulted in the development of two inventions owned jointly by UCSF and CalTech, disclosed in (i) UCSF Case No. SF99-076 and Caltech No. CIT 2923, entitled “Silicone Intraocular Lenses Embedded
with Photosensitive Compositions”, with Jagdish M. Jethmalani, Daniel M. Schwartz, Julia Kornfield, Robert H. Grubbs, and Christian Sandstedt as inventors, which invention was also the subject of nonprovisional U.S. Application 09/415,909
entitled “Lenses Capable of Post-Fabrication Power Modification,” and (ii) UCSF Case No. SF99-026 and Caltech No. CIT 3062, entitled 

 
“Biodegradable Polymers for Closure of Retinal Breaks and Prevention of Proliferative Vitreoretinopathy” which invention was also the subject of nonprovisional U.S. Application
09/181,041 entitled “Methods and Pharmaceutical Compositions for the Closure Of Retinal Breaks,” with Daniel M. Schwartz, Jeffrey Hubbell and Alexander Irvine as inventors (together, (i) and (ii) are the “Inventions”), which
are the subject of an interinstitutional agreement between The Regents and Caltech wherein The Regents and Caltech agreed that The Regents will have the sole right to license patent rights in the Inventions. Certain aspects of the Inventions were
made in the course of research at Caltech and Caltech has granted exclusively to The Regents the sole right to administer and commercialize Caltech’s rights, title and interest in UCSF Case Nos. SF99-026
and SF99-076 (the “Interinstitutional Agreement”). 
 B.    The
Inventions are covered by Regents’ Patent Rights (as defined in this Agreement) and were developed by Daniel M. Schwartz and Alexander Irvine at UCSF and by Jagdish M. Jethmalani, Julia Kornfield, Robert H. Grubbs, Christian Sandstedt and
Jeffrey Hubbell at Caltech (the “Inventors”). 
 C.    The Licensee and The Regents have executed a Letter of
Intent (U.C. Control No. 98-30-0021) dated December 1, 1997 and subsequently amended on November 11, 1998 to include the inventions disclosed in SF99-026 and on June 18, 1999 to include SF99-076 for the purpose of negotiating a license to Regents’ Patent Rights; 

D.    The Licensee wishes to obtain rights from The Regents for the commercial development, use, and sale of products from
the Inventions, and The Regents is willing to grant those rights so that the Inventions may be developed to their fullest and the benefits enjoyed by the general public; and 

E.    The Licensee is a small business “concern” as defined in 15 U.S.C. §632; 

F.    Licensee recognizes and agrees that royalties due under this Agreement will be paid on both pending patent
applications and issued patents; 
 - - oo 0 oo - - 

In view of the foregoing, the parties agree: 

  
 2 

 1.     DEFINITIONS 

1.1    “Affiliate” means any corporation or other business entity in which the Licensee owns or controls,
directly or indirectly, at least fifty percent (50%) of the outstanding stock or other voting rights entitled to elect directors, or in which the Licensee is owned or controlled directly or indirectly by at least fifty percent (50%) of the
outstanding stock or other voting rights entitled to elect directors; but in any country where the local law does not permit foreign equity participation of at least fifty percent (50%), then an “Affiliate” includes any company in which
the Licensee owns or controls or is owned or controlled by, directly or indirectly, the maximum percentage of outstanding stock or voting rights permitted by local law. 

1.2    “Field of Use” means the research, development, and commercialization of products for all commercial
applications. 
 1.3    “Licensed Product” means any material that is covered by Regents’ Patent Rights,
that is produced by the Licensed Method, or that the use of which would constitute, but for the license granted to the Licensee under this Agreement, an infringement of any pending or issued claim within Regents’ Patent Rights. 

1.4    “Licensed Method” means any method that is covered by Regents’ Patent Rights, the use of which would
constitute, but for the license granted to the Licensee under this Agreement, an infringement of any pending or issued claim within Regents’ Patent Rights. 

1.5    “Net Sales” means the total of the gross invoice prices (subject to Section 4.1) of Licensed
Products sold or Licensed Methods performed by the Licensee, an Affiliate, or a sublicensee, less the sum of the following actual and customary deductions where applicable: cash, trade, or quantity discounts; sales, use, tariff, import/export duties
or other excise taxes imposed on particular sales; costs of insurance, packing and transportation from place of manufacture to the point of delivery; and credits to customers because of rejections or returns. For purposes of calculating Net Sales,
transfers to an Affiliate or sublicensee for end use by the Affiliate or sublicensee will be treated as sales at list price; provided that transfers to Affiliates or sublicensees for use in clinical development of Licensed Products or Licensed
Methods shall not be included in the calculation of Net Sales. 

  
 3 

 1.6    “Regents’ Patent Rights” means all right, title
and interest of The Regents in, to and under: a) the provisional patent applications entitled “Silicone Intraocular Lenses Embedded with Photosensitive Compositions” filed on January 12, 1999 (Serial No. 60/115,617), May 5,
1999 (Serial No. 60/132,871), and June 17, 1999, b) the corresponding nonprovisional U.S. Application 09/415,909 entitled “Lenses Capable of Post-Fabrication Power Modification,” and c) the patent application entitled
“Methods and Pharmaceutical Compositions for the Closure of Retinal Breaks” (Serial No. 09/181,041) filed on October 27, 1998, and d) any divisionals, continuations, or continuations-in-part (but only to the extent such continuations-in-part have inventors from both institutions and to the extent
they are enabled by the parent case) thereof; any corresponding foreign applications thereof; and any U.S. or foreign patents issued thereon or reissues or extensions thereof. 

1.7    “Valid Claim” means a claim of an issued and unexpired patent, or of a patent application, which claim
(i) is included in the Regents’ Patent Rights, (ii) has not lapsed, been canceled, or become abandoned, (iii) has not been declared invalid by a court of competent jurisdiction, (iv) has not been admitted to be invalid or
unenforceable through reissue or disclaimer; and (v) in the case of patent applications, has not been pending for more than six (6) years. 

2.    LIFE OF PATENT EXCLUSIVE GRANT 

2.1    Subject to the limitations set forth in this Agreement, The Regents grants to the Licensee a world-wide license
under Regents’ Patent Rights to make, have made, use, sell, offer to sell and import Licensed Products and to practice Licensed Methods. 

2.2    Except as otherwise provided in this Agreement, the license granted in Paragraph 2.1 is exclusive for the life of
the Agreement. 
 2.3    The license granted in Paragraphs 2.1 and 2.2 is limited to Licensed Methods and Licensed
Products that are within the Field of Use. For other methods and products, the Licensee has no license under this Agreement. 

2.4    The Regents and Caltech reserve the right to use the Inventions and associated technology for their own educational
and research purposes. 

  
 4 

 3.    SUBLICENSES 

3.1    The Regents also grants to the Licensee the right to issue sublicenses to third parties to make, have made, use,
sell, offer to sell and import Licensed Products and to practice Licensed Methods, as long as the Licensee has current exclusive rights thereto under this Agreement; provided that any sublicense granted prior to conversion of Licensee’s license
to a nonexclusive license shall continue in effect on a nonexclusive basis during the term of this Agreement. To the extent applicable, sublicenses must include, at a minimum, all of the rights of and obligations due to The Regents (and, if
applicable, the United States Government) contained in this Agreement, to the extent applicable to the sublicensee. In addition, Licensee shall pay to The Regents a percentage of all compensation received by Licensee from sublicensees other than
royalties on sales of Licensed Products in consideration for the grant of a sublicense under the Regents’ Patent Rights, as set forth in the following table, not to exceed a total of [***] in the aggregate (“Sublicense Revenue”): 

 

			
	 Portion of Aggregate Sublicense

Revenue Received by Licensee
	  	 Percentage of Such Portion

Due to The Regents

	[***]	  	[***]
	[***]	  	[***]
	[***]	  	[***]

 Sublicense revenue payments shall be due upon amounts received in the form of upfront fees and milestone payments, but shall
not be due upon any amounts received as support for research and development activities, as a loan, for the purchase of an equity interest in the Licensee, as reimbursement for patent costs, as earned royalties on net sales, or as consideration for
the grant of intellectual property rights and materials other than those claimed under Regents’ Patent Rights. Licensee may offset any payments made to The Regents pursuant to Section 7.3 against sublicense revenue payments due under this
Section 3.1 for the same event. 
 3.2    The Licensee shall promptly provide The Regents with a copy of each
sublicense issued, redacted to exclude confidential information not reasonably necessary for The Regents to evaluate whether the sublicense conforms to the requirements of this Agreement; shall use 

  
 5 

 
commercially reasonable efforts to collect payment of all payments due The Regents from sublicensees; and shall summarize and deliver all reports due The Regents from sublicensees. 

3.3    Upon termination of this Agreement for any reason, The Regents, at its sole discretion, shall determine whether the
Licensee shall cancel or assign to The Regents any and all sublicenses, provided, however, that prior to terminating any sublicense The Regents shall, upon request, discuss with the sublicensee the terms under which such sublicensee may retain such
sublicense. 
 4.    PAYMENT TERMS 

4.1    Paragraphs 1.1, 1.2, and 1.3 define Regents’ Patent Rights, Licensed Products and Licensed Methods so that
royalties are payable on products and methods covered by claims of both pending patent applications and issued patents. Royalties will accrue in each country for the duration of Valid Claims included in the Regents’ Patent Rights in that
country and are payable to The Regents when Licensed Products are invoiced, or if not invoiced, when delivered to a third party end user. 

4.2    Licensee shall pay earned royalties quarterly on or before February 28, May 31, August 31 and
November 30 of each calendar year. Each payment will be for earned royalties accrued within the Licensee’s most recently completed calendar quarter of sales. 

4.3    All monies due The Regents are payable in United States dollars. When Licensed Products are sold for monies other
than United States dollars, the Licensee shall first determine the earned royalty in the currency of the country in which Licensed Products were sold and then convert the amount into equivalent United States funds, using the exchange rate quoted in
the Wall Street Journal on the last business day of the reporting period. 
 4.4    Licensee shall promptly pay for and
on behalf of the Regents to the appropriate governmental authority any tax for the account of the Regents and any transfer charges, fees or other charges incurred in connection therewith required to be withheld by Licensee under the laws of any
foreign country, and shall deduct such amounts from payments due to The Regents hereunder. Licensee shall make reasonable efforts to furnish The Regents with proof of such payment. 

  
 6 

 4.5    If at any time legal restrictions prevent the prompt remittance
of royalties by the Licensee from any country where a Licensed Product is sold, the Licensee shall deposit the amount owed in an interest-bearing account within that country until such time as the restrictions are lifted, at which time the Licensee
shall promptly convert the amount then on deposit in said account into United States funds and pay such amount to The Regents. 

4.6    If any Valid Claim is held invalid in a final decision by a court of competent jurisdiction and last resort and
from which no appeal has or can be taken, all obligation to pay royalties based on that Valid Claim or any other Valid Claim patentably indistinct therefrom will cease as of the date of final decision. The Licensee will not, however, be relieved
from paying any royalties that accrued before the final decision or that are based on a Valid Claim not involved in the final decision. 

4.7    No royalties shall be due to The Regents from Licensee, its Affiliates or sublicensees on Licensed Products sold to
the account of the U.S. Government, any agency thereof, state or domestic municipal government as provided for in the License to the Government. 

4.8    If payments, rebillings or fees are not received by The Regents when due, the Licensee shall pay to The Regents
interest charges on the above at a rate of the lower of two percent (2%) over the then current prime interest rate (as quoted in the Wall Street Journal on the last day of the quarter) per annum or ten percent (10%) per annum. Interest is calculated
from the date due until actually received by The Regents. 
 4.9    Caltech and The Regents have separately agreed upon
a mechanism by which they will share all payments made by Licensee hereunder, and Licensee shall not be obligated to make any payments directly to Caltech due to its practice of rights under this Agreement. 

5.    LICENSE-ISSUE FEE 

5.1    The Licensee shall pay to The Regents a license-issue fee of [***] payable in two installments of [***]. Such
installments shall be paid within thirty (30) days after the Effective Date of this Agreement and within thirty (30) days after the first anniversary of the Effective Date. This fee is
non-refundable, non-cancelable, and is not an advance against royalties. 

  
 7 

 6.    LICENSE MAINTENANCE FEE 

6.1    The Licensee shall also pay to The Regents a royalty in the form of an annual license maintenance fee of [***]
commencing upon the second anniversary of the Effective Date and continuing annually on each anniversary of the Effective Date. The maintenance fee is not due on any anniversary of this Agreement if on that date the Licensee is commercially selling
a Licensed Product and paying an earned royalty to The Regents on the sales of that Licensed Product. License maintenance fees are non-refundable and not an advance against earned royalties, except that in the year of commercial launch of a Licensed
Product or Licensed Method, the license maintenance fee shall be creditable against earned royalties or the minimum annual royalty for such year. 

7.    EARNED ROYALTIES, MINIMUM ANNUAL ROYALTIES AND MILESTONES 

7.1    The Licensee shall also pay to The Regents an earned royalty of [***] of the Net Sales by Licensee, its Affiliates
and sublicensees of Licensed Products or Licensed Methods covered by a Valid Claim under Regents’ Patent Rights. If Licensee owes to one or more third parties earned royalties or similar payments on sales of Licensed Products by Licensee, its
Affiliates or sublicensees, Licensee may offset [***] of all such payments made to such third party(ies) against earned royalties due to The Regents on sales of Licensed Products, provided that in no event shall the earned royalties due to The
Regents be reduced by operation of such offsets by more than [***]. 
 7.2    The Licensee shall pay to The Regents a
minimum annual royalty of [***] for the life of Regents’ Patent Rights, beginning with the year of the first commercial sale of Licensed Product. For the first year of commercial sales, the Licensee’s obligation to pay the minimum annual
royalty will be pro-rated for the number of months remaining in that calendar year when commercial sales commence and will be due the following February 28, to allow for crediting against the earned
royalties for such year or crediting of the earned royalties for such year against such minimum annual royalty, as applicable. For subsequent years, the minimum annual royalty will be paid to The Regents by February 28 of 

  
 8 

 
each year and will be credited against the earned royalty due for the calendar year in which the minimum payment was made. 

7.3    Licensee shall pay The Regents the following amounts within thirty (30) days after achievement of the
specified event for Licensed Products by Licensee, its Affiliates or sublicensees; 
  

					
	 Filing of an Investigational Device Exemption with the FDA for a trial involving more than 20
persons, or other equivalent applications filed with governmental authorities to enable start of clinical trials in a country
	  	 	[***	] 
		
	 First use in a Patient as part of a Phase II Clinical Trial
	  	 	[***	] 
		
	 First use in a Patient as part of a Phase III Clinical Trial
	  	 	[***	] 
		
	 Approval by the FDA of a Pre-Marketing Approval
Application (or equivalent application with the FDA)
	  	 
	[***
	] 

 8.    DUE DILIGENCE 

8.1    The Licensee, on execution of this Agreement, shall diligently proceed with the development, manufacture and sale of
Licensed Products and shall diligently endeavor to market the same within a reasonable time after execution of this Agreement in quantities sufficient to meet market demands. 

8.2    The Licensee shall endeavor to obtain all necessary governmental approvals for the manufacture, use and sale of
Licensed Products in countries in which Licensee reasonably determines to develop and market Licensed Products. 

8.3    The Licensee shall: 
  

	 	8.3.1	 commence proof-of-concept
studies in an animal model by the third anniversary of the Effective Date; 

  

	 	8.3.2	 submit an Investigational Device Exemption for a Licensed Product with the United States Food and Drug
Administration by the sixth anniversary of the Effective Date; 

  

	 	8.3.3	 market the Licensed Product by within six (6) months of the date a Pre-Marketing Approval application is
approved for such Licensed Products 

  
 9 

	 	
and achieve first commercial sale of a Licensed Product in the United States by the twelfth anniversary of the Effective Date; and 

 

	 	8.3.4	 use commercially reasonable efforts to fill the market demand for Licensed Products following commencement of
marketing at any time during the exclusive period of this Agreement. 

 8.4    If the Licensee is
unable to perform any of the provisions of Section 8.3 for a reason relating to unforeseen safety or technical problems arising during the term of this Agreement, the foregoing target dates shall be extended by mutual consent for a reasonable
period reflecting any additional development work necessary to address such problem; 
 8.5    If the Licensee does not
perform any of its obligations under Section 8.3 for any reason other than those relating to unforeseen safety or technical problems or other events outside the control of Licensee arising during the term of this Agreement, the Regents shall
have the right and option to convert Licensee’s exclusive license to a nonexclusive license, provided that it has first conferred with the Licensee to develop a plan under which Licensee may cure such failure. If Licensee has failed to perform
under such plan to cure nonperformance, The Regents may convert the Licensee’s exclusive license to a non-exclusive license. If Licensee does not cure such failure to perform its obligations under
Section 8.3 diligently within one hundred eighty (180) days following conversion by The Regents of Licensee’s exclusive license to a nonexclusive license, then The Regents may thereafter terminate this Agreement. This right, if
exercised by The Regents, supersedes the rights granted in Article 2 (GRANT). 
 9.    PROGRESS AND ROYALTY REPORTS 

9.1    Beginning August 31, 2000 and semi-annually thereafter, file Licensee shall submit to The Regents a progress
report covering the Licensee’s (and any Affiliate’s or sublicensee’s) activities related to the development and testing of all Licensed Products and the obtaining of the governmental approvals necessary for marketing. Progress reports
are required for each Licensed Product until the first commercial sale of that Licensed Product occurs in the United States and shall be again required if commercial sales of such Licensed Product are suspended or discontinued. 

  
 10 

 9.2    Progress Reports are Licensee’s confidential information.
The Regents shall not disclose to third parties any such information or use such information for any reason other than to determine Licensee’s compliance with this Article 9, unless such information is already in the public domain through no
fault of the Regents. 
 9.3    Progress Reports submitted under Paragraph 9.1 shall include, but are not limited to,
the following topics with respect to Licensed Products: 
  

	 	•	 	 summary of work completed 

 

	 	•	 	 summary of work in progress 

 

	 	•	 	 current schedule of anticipated events or milestones, 

 

	 	•	 	 anticipated commercial launch dates for introduction of Licensed Products, and 

9.4    The Licensee has a continuing responsibility to keep The Regents informed of the large/small business entity status
(as defined by the United States Patent and Trademark Office) of itself and its sublicensees and Affiliates. 

9.5    The Licensee shall report to The Regents the date of first commercial sale of a Licensed Product in each country in
its immediately subsequent progress and royalty report. 
 9.6    After the first commercial sale of a Licensed Product
anywhere in the world, the Licensee shall make quarterly royalty reports to The Regents on or before each February 28, May 31, August 31 and November 30 of each year. Each royalty report will cover the Licensee’s most
recently completed calendar quarter and will show (a) the gross sales and Net Sales of Licensed Products sold during the most recently completed calendar quarter; (b) the number of each type of Licensed Product sold; (c) the
royalties, in U.S. dollars, payable with respect to sales of Licensed Products; (d) the method used to calculate the royalty; and (e) the exchange rates used. 

9.7    If no sales of Licensed Products have been made during any reporting period following commercial launch of a
Licensed Product, a statement to this effect is required. 

  
 11 

 10.    BOOKS AND RECORDS 

10.1    The Licensee shall keep accurate books and records showing all Licensed Products manufactured, used, and/or sold
under the terms of this Agreement. Books and records must be preserved for at least five (5) years from the date of the royalty payment to which they pertain. 

10.2    Books and records must be open to inspection by an independent auditor reasonably acceptable to Licensee at
reasonable times, but no more often than once per calendar year. The Regents shall bear the fees and expenses of such inspection but if an error in payment of royalties is detected indicating an underpayment of more than [***] of the total royalties
due for any year in any examination, then the Licensee shall bear the fees and expenses of that examination. 
 11.    LIFE OF THE
AGREEMENT 
 11.1    Unless otherwise terminated by operation of law or by acts of the parties in accordance with the
terms of this Agreement, this Agreement will be in force from the Effective Date until the later of: (i) the expiration of the last-to-expire patent included in The
Regents’ Patent Rights licensed under this Agreement containing a Valid Claim; or (ii) fifteen (15) years after the first commercial sale of Licensed Products, subject to renewal by written mutual consent of the parties. 

11.2    Any termination of this Agreement will not affect the rights and obligations set forth in the following Articles:

  

			
	Article 10	  	Books and Records
	Article 14	  	Disposition of Licensed Products on Hand on Termination
	Article 15	  	Use of Names and Trademarks
	Article 20	  	Indemnification
	Article 28	  	Secrecy

 12.    TERMINATION BY THE REGENTS 

12.1    If the Licensee materially fails to perform or violates any material term of this Agreement, then The Regents may
give written notice of default (a “Notice of Default”) to the Licensee. If the Licensee fails to cure the default within sixty (60) days of the effective date of the Notice of Default, The Regents may terminate this Agreement and all
licenses granted 

  
 12 

 
hereunder by a second written notice (a “Notice of Termination”). If a Notice of Termination is sent to the Licensee, this Agreement will automatically terminate on the date Licensee
receives the Notice of Termination or such later date as the Notice of Termination may specify. Termination will not relieve the Licensee of its obligation to pay any fees owing at the time of termination and will not impair any accrued right of The
Regents. Any notices to be provided hereunder are subject to Article 21 (Notices). 
 13.    TERMINATION BY LICENSEE 

13.1    The Licensee has the right at any time to terminate this Agreement at will in whole or as to any portion of
Regents’ Patent Rights by giving notice in writing to The Regents. Any notice of termination provided hereunder will be subject to Article 21 (Notices). The termination by Licensee of this Agreement will be effective sixty (60) days from
The Regents’ receipt of such notice from Licensee hereunder. 
 13.2    Any termination under the above paragraph
does not relieve the Licensee of any obligation or liability accrued under this Agreement prior to termination or rescind any payment made to The Regents prior to the effective date of such termination. Any termination under this Article 13 does not
affect in any manner any rights of The Regents arising under this Agreement prior to termination. 
 14.    DISPOSITION OF LICENSED
PRODUCTS ON HAND UPON TERMINATION 
 14.1    Upon termination of this Agreement the Licensee is entitled to dispose
of all Licensed Products previously made or partially made existing at such time within a period of one hundred and twenty (120) days after such termination, provided that the sale of those Licensed Products is subject to the terms of this
Agreement, including but not limited to the rendering of reports and payment of royalties required under this Agreement. 

15.    USE OF NAMES AND TRADEMARKS 

15.1    Nothing contained in this Agreement confers any right to use in advertising, publicity, or other promotional
activities any name, trade name, trademark, or other designation of either party hereto (including any contraction or abbreviation of any of the foregoing). Unless 

  
 13 

 
required by law, the use by the Licensee of the name “The Regents of the University of California” or the name of any campus of the University of California is prohibited without The
Regents’ prior written consent. 
 16.    LIMITED WARRANTY 

16.1    The Regents warrants to the Licensee that it has the lawful right to grant the license granted to Licensee pursuant
to Article 3, and the power to enter into and perform under this Agreement. 
 16.2    The license granted to Licensee
hereunder and the associated Inventions are provided WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ANY OTHER WARRANTY, EXPRESS OR IMPLIED. THE REGENTS MAKES NO REPRESENTATION OR WARRANTY THAT THE LICENSED PRODUCTS OR
LICENSED METHODS WILL NOT INFRINGE ANY PATENT OR OTHER PROPRIETARY RIGHT OF A THIRD PARTY. 
 16.3    IN NO EVENT MAY
EITHER PARTY OR CALTECH BE LIABLE FOR ANY INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM THE GRANT OR EXERCISE OF THIS LICENSE OR THE USE OF THE INVENTIONS OR LICENSED PRODUCTS. 

16.4    This Agreement does not: 
  

	 	16.4.1	 express or imply a warranty or representation as to the validity or scope of any of Regents’ Patent
Rights; 

  

	 	16.4.2	 express or imply a warranty or representation that anything made, used, sold, offered for sale or imported or
otherwise disposed of under any license granted in this Agreement is or will be free from infringement of patents of third parties; 

  

	 	16.4.3	 obligate The Regents to bring or prosecute actions or suits against third parties for patent infringement
except as provided in Article 19; 

  

	 	16.4.4	 confer by implication, estoppel or otherwise any license or rights under any patents of The Regents other than
Regents’ Patent Rights as defined 

  
 14 

	 	
in this Agreement, regardless of whether those patents are dominant or subordinate to Regent’s Patent Rights; or 

 

	 	16.4.5	 obligate The Regents to furnish any know-how not provided in
Regents’ Patent Rights. 

 17.    PATENT PROSECUTION AND MAINTENANCE 

17.1    As long as the Licensee continues to pay patent costs as provided for in this Article, The Regents shall prosecute
and maintain the United States and foreign patents comprising Regents’ Patent Rights using counsel of its choice that is reasonably acceptable to Licensee. The Regents shall provide the Licensee with copies of all documentation relating to The
Regents’ Patent Rights so that the Licensee shall be informed of the continuing prosecution reasonably in advance of any date of anticipated submission so the Licensee may review and comment on such correspondence. The Licensee agrees to keep
this documentation confidential. The Regents will inform the Licensee of upcoming deadlines and dates to file patent applications or other documents in the United States and foreign countries reasonably in advance of any relevant deadlines. The
Regents’ counsel will take instructions only from The Regents, and all patents and patent applications under this Agreement will be assigned solely to The Regents. 

17.2    The Regents shall use all reasonable efforts to amend any patent application within the Regents’ Patent
Rights to include claims or modifications of the specifications reasonably requested by the Licensee. 
 17.3    The
Licensee shall apply for an extension of the term of any patent included within Regents’ Patent Rights if appropriate under the Drug Price Competition and Patent Term Restoration Act of 1984 and/or European, Japanese and other foreign
counterparts of this law. The Licensee shall prepare all documents necessary to apply for such extension with the cooperation of The Regents’ patent counsel. The Regents shall execute such documents and take additional action as the Licensee
reasonably requests in connection therewith. 
 17.4    If either party receives notice under the Drug Price Competition
and Patent Term Restoration Act of 1984 (and/or foreign counterparts of this law) pertaining to infringement or potential infringement of any claim in an issued patent included within Regents’ Patent Rights, 

  
 15 

 
that party shall notify the other party within ten (10) days after receipt of notice of infringement. 

17.5    The Licensee shall bear the costs of preparing, filing, prosecuting and maintaining all United States and foreign
patent applications included in The Regents’ Patent Rights. Costs incurred by The Regents in connection therewith will be rebilled to the Licensee which shall pay such amounts within thirty (30) days of receipt of an invoice therefor by
Licensee. These costs include patent prosecution costs for the Inventions incurred by The Regents prior to the execution of this Agreement and any patent prosecution costs that may be reasonably incurred for conducting or providing patentability
opinions, re-examinations, re-issues, interferences, or inventorship determinations. Prior to the Effective Date, Licensee has paid to the Regents approximately [***]
for patent prosecution costs. 
 17.6    The Licensee may request The Regents to obtain patent protection on the
Inventions in foreign countries if available. The Licensee shall notify The Regents of its decision to obtain or maintain foreign patents not less than sixty (60) days prior to the deadline for any payment, filing, or action to be taken in
connection therewith. If, however, Licensee received notice of the deadline from The Regents later than sixty (60) days before the deadline, the Licensee shall notify the Regents of its decision to obtain or maintain foreign patents within a
reasonable time after receiving notice of the deadline from the Regents. Licensee’s requests concerning foreign filings must be in writing and must identify the countries in which Licensee desires such filings to be made. The absence of such a
notice from the Licensee to The Regents will be considered an election not to obtain or maintain foreign rights, unless The Regents has failed to give notice of the impending deadline pursuant to Section 17.1. 

17.7    The Licensee’s obligation to pay patent prosecution costs for The Regents’ Patent Rights will continue
for so long as this Agreement remains in effect, but the Licensee may terminate its obligations with respect to any given patent application or patent included in the Regents’ Patent Rights upon three (3) months written notice to The
Regents. The Regents will use its best efforts to curtail patent costs when a notice of termination is received from the Licensee. At its sole discretion and expense, The Regents may prosecute and maintain any 

  
 16 

 
application(s) or patent(s) for which Licensee has terminated its payment obligations. The Licensee will have no further right or licenses under such applications and patents. 

17.8    The Regents may file, prosecute or maintain patent applications at its own expense in any country in which the
Licensee has not elected to file, prosecute, or maintain patent applications in accordance with this Article, and those applications and resultant patents in such countries will not be subject to this Agreement. 

18.    PATENT MARKING 

18.1    The Licensee shall mark all Licensed Products made, used or sold under the terms of this Agreement, or their
containers, in accordance with the applicable patent marking laws. 
 19.    PATENT INFRINGEMENT 

19.1    If the Licensee learns of the substantial infringement of any patent licensed under this Agreement, the Licensee
shall call The Regents’ attention thereto in writing and provide The Regents with reasonable evidence of infringement of which Licensee is aware. Neither party will notify a third party of the infringement of any of Regents’ Patent Rights
without first obtaining consent of the other party, which consent will not be unreasonably denied. Both parties shall use commercially reasonable efforts in cooperation with each other to terminate infringement without litigation. 

19.2    The Licensee may request that The Regents take legal action against the infringement of Regents’ Patent
Rights. Such request must be in writing and must include reasonable evidence of infringement and damages to the Licensee. If the infringing activity has not abated within ninety (90) days following the effective date of a request by Licensee,
The Regents then has the right to commence suit on its own account; or refuse to participate in the suit. The Regents shall give notice of its election hereunder in writing to the Licensee by the end of the
one-hundredth (100th) day after receiving notice of written request from the Licensee. The Licensee may thereafter bring suit for patent infringement, at its own expense, if The Regents elects not to commence
suit and if the infringement occurred during the period and in a jurisdiction where the Licensee had exclusive rights under this Agreement. 

  
 17 

 19.3    Any legal action brought pursuant to this Article 19 will be at
the expense of the party bringing suit but legal action brought jointly by The Regents and the Licensee will be at the joint expense of the parties and all recoveries will be shared jointly by them in proportion to the share of expense paid by each
party. If a party solely brings an action against a third party for alleged infringement of The Regents’ Patent Rights, any damages recovered in such suit shall be applied first toward any unreimbursed expenses and legal fees of the parties
related thereto, with any balance being allocated between the parties in accordance with their relative interests in the infringed patents in The Regents Patent Rights such that if such damages are awarded for lost profits on sales of Licensed
Products in the Field of Use, then the balance shall be retained by Licensee, subject to the payment of a royalty thereon to The Regents that would be due if such balance were Net Sales of Licensed Products in the Field of Use, but if such damages
are awarded for lost profits on sales of products other than Licensed Products in the Field of Use, then The Regents shall retain such balance. 

19.4    Each party shall cooperate with the other in litigation proceedings instituted hereunder but at the expense of the
party bringing suit. Litigation will be controlled by the party bringing the suit, except that either party may be represented by counsel of its choice, at its expense, in any suit brought by the other party. 

20.    INDEMNIFICATION 

20.1    The Licensee shall indemnify, hold harmless and defend The Regents, its officers, employees, and agents; the
sponsors of the research that led to the Inventions; and the inventors of the patents and patent applications in Regents’ Patent Rights and their employers (collectively, the “Regents’ Indemnitees”) against any and all third
party claims, suits, losses, liabilities, damages, costs, fees, and expenses resulting from or arising out of exercise of this license or any sublicense by Licensee, its Affiliates, and its sublicensees, unless such claims, suits, losses,
liabilities, damages, costs, fees and expenses result from neglect and/or willful acts by The Regents’ Indemnitees. This indemnification includes, but is not limited to, any third party claims of product liability relating to Licensed Products,
and is subject to the Regents’ giving prompt notice of such claim to Licensee and cooperation in any such action. 

  
 18 

 20.2    The Licensee, at its sole cost and expense, shall insure its
activities in connection with the work under this Agreement and obtain, keep in force and maintain insurance as follows, or an equivalent program of self insurance; 

20.3    Comprehensive or commercial form general liability insurance (contractual liability included) with limits as
follows: 
  

	 	(a)	 prior to commencement of human clinical testing: Each Occurrence $1,000,000; and 

 

	 	(b)	 upon commencement of human clinical testing:- Products/Completed Operations Aggregate $5,000,000;- Personal and
Advertising Injury $1,000,000; and General Aggregate (commercial form only) $5,000,000. 

 The coverage and limits referred to under the
above do not in any way limit the liability of the Licensee under Section 20.1. The Licensee shall furnish The Regents with certificates of insurance showing compliance with all requirements. Certificates must: 

 

	 	(a)	 Provide for thirty (30) days’ advance written notice to The Regents of any modification in the scope
of coverage. 

  

	 	(b)	 Indicate that The Regents has been endorsed as an additional Insured under such insurance policy.

  

	 	(c)	 Include a provision that the coverage will be primary and will not participate with nor will be excess over any
valid and collectable insurance or program of self-insurance carried or maintained by The Regents. 

20.4    The Regents shall notify the Licensee in writing of any claim or suit brought against The Regents in respect of
which The Regents intends to invoke the provisions of this Article. The Licensee shall keep The Regents informed on a current basis of its defense of any claims under this Article. 

  
 19 

 21.    NOTICES 

22.    Any notice or payment required to be given to either party is properly given and effective (a) on the date of
delivery if delivered in person, (b) five (5) days after mailing if mailed by first-class certified mail, postage paid, or (c) on the date of receipt of facsimile transmission (provided that receipt is confirmed), to the respective
addresses and numbers given below, or to another address as is designated by written notice given to the other party. 
  

			
	In the case of the Licensee:	  	 Calhoun Vision, Inc.
 Attention: John
Maynard
 Fax: 

		
	With a copy to:	  	 Cooley Godward LLP
 5 Palo Alto Square

3000 El Camino Real
 Palo Alto, California 94306-2155

Attention: Andrei Manoliu
 Fax:

		
	In the case of The Regents:	  	 Office of Technology Management
 University of
California San Francisco
 1294 Ninth Avenue, Suite 1 - Box 1209

San Francisco, CA 94143-1209
 Attention: Director

Referring to: UCSF Case Nos. SF99-026, SF99-076

Fax:

 23.    ASSIGNABILITY 

23.1    This Agreement may be assigned by The Regents, but is personal to the Licensee and assignable by the Licensee only
with the written consent of The Regents, not to be unreasonably withheld, except that Licensee may assign this Agreement in connection with a merger, consolidation or sale of all or substantially all of Licensee’s assets. 

24.    NO WAIVER 

24.1    No waiver by either party of any default of this Agreement may be deemed a waiver of any subsequent or similar
default. 

  
 20 

 25.    GOVERNING LAWS 

25.1    THIS AGREEMENT WILL BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA, but the
scope and validity of any patent or patent application will be governed by the applicable laws of the country of the patent or patent application. 

26.    PREFERENCE FOR UNITED STATES INDUSTRY 

26.1    Because this Agreement grants the exclusive right to use or sell the Inventions in the United States, the Licensee
agrees that any products sold in the U.S. embodying these Inventions or produced through the use thereof will be manufactured substantially in the United States unless a waiver of the requirement for substantial manufacture within the U.S. is
obtained from the U.S. government. The Regents shall cooperate with Licensee in taking such actions as are reasonably necessary to obtain such waiver, if requested. 

27.    GOVERNMENT APPROVAL OR REGISTRATION 

27.1    Licensee shall notify The Regents if it becomes aware that this Agreement is subject to any U.S. or foreign
government reporting or approval requirement. Licensee shall make all necessary filings and pay all costs including fees, penalties, and all other out-of-pocket costs
associated with such reporting or approval process. 
 28.    EXPORT CONTROL LAWS 

28.1    The Licensee shall observe all applicable United States and foreign laws with respect to the transfer of Licensed
Products and related technical data to foreign countries, including, without limitation, the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. 

29.    SECRECY 

29.1    With regard to confidential information (“Data”), received in oral and/or written form, received from The
Regents regarding these Inventions, the Licensee agrees: 

  
 21 

	 	29.1.1	 not to use the Data except for the sole purpose of performing under the terms of this Agreement;

  

	 	29.1.2	 to safeguard Data against disclosure to others with the same degree of care as it exercises with its own data
of a similar nature; 

  

	 	29.1.3	 not to disclose Data to others (except to its employees, agents or consultants who are bound to the Licensee by
a like obligation of confidentiality) without the express written permission of The Regents, except that the Licensee is not prevented from using or disclosing any of the Data that: 

 

	 	29.1.3.1	 the Licensee can demonstrate by written records was previously known to it; 

 

	 	29.1.3.2	 is now, or becomes in the future, public knowledge other than through acts or omissions of the Licensee; or

  

	 	29.1.3.3	 is lawfully obtained by the Licensee from sources independent of The Regents; 

 

	 	29.1.3.4	 is independently developed by Licensee without use of such Data, as evidenced by written records; and

  

	 	29.1.3.5	 that the secrecy obligations of the Licensee with respect to Data will continue for a period ending five
(5) years from the termination date of this Agreement 

 30.    MISCELLANEOUS 

30.1    The headings of the several sections are inserted for convenience of reference only and are not intended to be a
part of or to affect the meaning or interpretation of this Agreement. 
 30.2    This Agreement is not binding on the
parties until it has been signed below on behalf of each party. It shall then be effective as of the Effective Date. 

30.3    No amendment or modification of this Agreement shall be valid or binding on the parties unless made in writing and
signed on behalf of each party. 
 30.4    This Agreement embodies the entire understanding of the parties and
supersedes all previous communications, representations or understandings, either oral or written, between the parties relating to the subject matter hereof. 

30.5    In case any of the provisions contained in this Agreement is held to be invalid, illegal, or unenforceable in any
respect, that invalidity, illegality or unenforceability will not affect 

  
 22 

 
any other provisions of this Agreement, and this Agreement will be construed as if the invalid, illegal, or unenforceable provisions had never been contained in it. 

30.6    This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, both The Regents and the Licensee have executed this
Agreement, in duplicate originals, by their respective and duly authorized officers on the day and year written. 
  

									
	CALHOUN VISION, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 /s/ John T. Maynard
	 		 	By:	 	 /s/ Joel B. Kirschbaum

		 	(Signature)	 		 		 	(Signature)
					
	Name:	 	 John T. Maynard
	 		 	Name:	 	 Joel B. Kirschbaum

		 	(Please Print)	 		 		 	(Please Print)
	Title:	 	Treasurer	 		 	Title:	 	Interim Director - OTM
					
	Date:	 	3/8/00	 		 	Date:	 	3/7/00

  
 23 

 Page 1 of 2 
  

 Nakashima, Susan 

 
  

			
	From:	  	Nakashima, Susan
	Sent:	  	Thursday, May 29, 2008 3:15 PM
	To:	  	‘John Maynard’
	Co:	  	Kirschbaum, Joel
	Subject:	  	RE: UCSF Invoice No. 15-002737

 John, 
 You’re welcome. The
invoice was for the 2nd maintenance fee in the USPTO. All foreign applications have been abandoned. Your e-mail is sufficient notice for me [***] from the license. I’ll check with Joel and Caltech to see
if anyone is Interested in keeping this patent alive. There is only one more maintenance fee due (In 4 years) during the life of this patent. 
 Best
regards, 
 Susan 
  

 
 From: John Maynard 

Sent: Thursday, May 29, 2008 3:09 PM 
 To:
Nakashima, Susan 
 Subject: RE: UCSF Invoice No. 15-002737 

Susan, 
 Thanks for your (as always) quick reply! I’ll pay
this invoice, but am informing you that we no longer intend to develop the Biodegradable Polymer technology. Please let me know what we should do to have this case removed from the license. 

Regards, 
 John 

 
  

From: Nakashima, Susan 
 Sent: Thursday,
May 29, 2008 3:05 PM 
 To: John Maynard 

Subject: RE: UCSF Invoice No. 15-002737 

Hi John, 
 It was the 1999-026-3 (U.S. Patent 6,475,508) that was the subject of the interference and Calhoun should not receive any invoices for the -3. The
-2 refers to U.S. Patent 6,149,931. Please let me know if you have further questions. 
 Warm regards, 

Susan 
  

 
  

			
	 From: John Maynard 
 Sent:
Thursday, May 29, 2008 2:47 PM
 To: Nakashima, Susan

Subject: UCSF Invoice No. 15-002737
	  	

 Page 2 of 2 
  

 Hi Susan, 

We’ve received an Invoice from UCSF for [***], which is related to Case
1999-026-2 (Biodegradable Polymers). I think this billing is in error, because you probably recall that the underlying patent licensed from the University was
Invalidated. I believe that Genzyme brought infringement action against the University, and it’s my understanding that they won an appeal to the USPTO. Accordingly, I thought the case had been removed from our license. 

I’d appreciate clarification on this matter, and if you agree that the case is no longer valid, please ask UCOP to cancel the invoice. 

Regards, 
 John 

--- 
 Calhoun Vision, Inc. 

John Maynard, CFO 
 2555 E Colorado Blvd, Ste 400 

Pasadena, CA 91107 
 tel:
             | fax:              

--- 

 AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT FOR 

SILICONE INTRAOCULAR LENSES EMBEDDED WITH PHOTOSENSITIVE 

COMPOSITIONS and METHODS AND PHARMACEUTICAL COMPOSITIONS FOR THE 

CLOSURE OF RETINAL BREAKS 
 This
amendment (“Amendment”) is made effective this 5th day of December, 2013 (“Effective Date”), between The Regents of the University of California, a California corporation,
having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 (“The Regents”) and acting through its University of California, San Francisco Office of Innovation, Technology &
Alliances, 3333 California Street, Suite S-11, San Francisco, CA, 94143-1209 (“UCSF”) and Calhoun Vision, Inc., a California corporation, having a principal place of business at 171 N. Altadena
Drive, Suite 201, Pasadena, CA 91107 (the “Licensee”). 
 BACKGROUND 

A.    Whereas, Licensee and The Regents entered into a license agreement effective March 1, 2000, having UC Agreement
Control No. 2000-04-0032 (the “Agreement”); 

B.    Whereas, Licensee has not made the milestone payment in the amount of [***] required under Article 7.3 of the
Agreement for First Use in a Patient as Part of a Phase III Clnical Trial: 
 C.    Whereas, Licensee was unable to meet
the due diligence requirement of Article 8.3.3 to achieve first commercial sale of a Licensed Product in the United States by the twelfth anniversary of the effective date of the agreement, and wishes to extend such date; 

D.    Whereas, Licensee and The Regents now desire to amend the Agreement to settle the milestone payment owed by Licensee
and to extend the diligence requirement of Article 8.3.3 of the Agreement. 

 THEREFORE, in view of the foregoing, the parties agree as follows: 

1.    Defined terms in this Amendment have the meaning set forth in the Agreement unless specifically changed by the
provisions hereof. 
 2.    Licensee shall pay to The Regents the milestone payment in the amount of [***] required
under Article 7.3 of the Agreement for First Use in a Patient as Part of a Phase III Clinical Trial in two equal installments as follows: 
  

	 	(i)	 [***] the week of December 2nd, 2013; and

  

	 	(ii)	 [***] the week of January 1st, 2014.

 3.    Licensee shall pay to The Regents a milestone payment in the amount of [***] within seven
(7) days of either: 
  

	 	(i)	 closing of an initial public offering of the common stock of licensee pursuant to a registration statement
filed with the Securities and Exchange Commission (“SEC”); or 

  

	 	(ii)	 a Change of Control Transaction. 

“Change of Control Transaction” means any acquisition, consolidation, merger, reorganization or other transaction or series of transactions in which
greater than fifty percent (50%) of the voting power of Licensee is transferred to a third party. 
 This milestone payment shall be a one-time payment obligation and will survive termination or expiration of the Agreement. 

4.    The last milestone payment of Article 7.3 of the Agreement is deleted and replaced with the following: 

“Approval by the FDA of a Pre-Marketing Approval Application (or equivalent application with
the FDA) [***]” 

  
 2 

 5.     Article 8.3.3 of the Agreement is deleted in its entirety and
replaced with the following:  
  

	 	“8.3.3	 achieve approval by the United States Food and Drug Administration (“FDA”) of a Pre-Marketing Approval Application (or equivalent application with the FDA) by December 31st, 2017, and achieve first commercial sale of a Licensed
Product in the USA within six (6) months of such FDA approval; and” 

 The Agreement shall
remain in full force and effect in accordance with its terms except as amended herein. 
 IN WITNESS WHEREOF, The Regents and the Licensee
have executed this Amendment by their respective and duly authorized representatives, as evidenced by the signatures below on the day and year hereinafter written. 
  

									
	CALHOUN VISION, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 /s/ D. Verne Sharma
	 		 	By:	 	 /s/ Karin Immergluck

		 	(Signature)	 		 		 	(Signature)
	Name:	 	 D. Verne Sharma
	 		 	Name:	 	Karin Immergluck
		 	(Please print)	 		 		 	
	Title:	 	CEO	 		 	Title:	 	Acting Director, Technology Management
		 		 		 		 	Innovation, Technology & Alliances
	Date:	 	12/5/2013	 		 	Date:	 	12/5/2013

  
 3 

 THIRD AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT FOR 

SILICONE INTRAOCULAR LENSES EMBEDDED WITH PHOTOSENSITIVE 

COMPOSITIONS and METHODS AND PHARMACEUTICAL COMPOSITIONS FOR THE 

CLOSURE OF RETINAL BREAKS 
 This
amendment (“Amendment”) is made effective this 10th of November, 2016 (“Effective Date”), between The Regents of the University of California, a California corporation, having
its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 (“The Regents”) and acting through its University of California, San Francisco Office of Innovation, Technology & Alliances,
3333 California Street, Suite S-11, San Francisco. CA, 94143-1209 (“UCSF”) and Calhoun Vision, Inc., a California corporation, having a principal place of business at 171 N, Altadena Drive, Suite
201, Pasadena, CA 91107 (the “Licensee”). 
 BACKGROUND 

A.    Whereas, Licensee and The Regents entered into a license agreement effective March 1, 2000, having UC Agreement
Control No. 2000-04-0032 (the “Agreement”); 

B.    Whereas, the Agreement was amended on December 5th, 2013 (UC
Control No. 2000-04-0032 RevL) to settle the milestone payment owed by Licensee and extend the diligence requirement of Article 8.3.3 of the Agreement; 

C.    Whereas, the Agreement was amended on May 29th, 2008 (UC
Control No. 2000-04-0032 RevJ) to exclude UCSF Case No. SF99-026-2 from the
Regents’ Patent Rights listed in Article 1.6 of the Agreement; 
 D.    Whereas, Licensee and The Regents now
desire to amend the Agreement to clarify and update the Regents’ Patent Rights listed in Article 1.6 of the Agreement. 

  
 1 

 THEREFORE, in view of the foregoing, the parties agree as follows: 

1.    Defined terms in this Amendment have the meaning set forth in the Agreement unless specifically changed by the
provisions hereof. 
 2.    Article 1.6 is deleted in its entirety and replaced with the following: 

“1.6 “Regents’ Patent Rights” means all right, title and interest of The Regents in, to and under the patent applications
or patents listed below: 
  

					
	 UC Case Number
	  	United States Application Number or
United States Patent Number	  	Filing or issue Date
	SF99-076-1	  	60/115,617	  	01/12/1999
	SF99-076-2	  	60/132,871	  	05/05/1999
	SF99-076-3	  	60/140,298	  	06/17/1999
	SF99-076-4	  	09/416,044
 6,450,642
	  	10/08/1999
 09/17/2002

	SF99-076-5	  	60/190,738	  	03/20/2000
	SF99-076-6	  	09/813,598
 6,749,632
	  	03/20/2001
 6/15/2004

	SF99-076-7	  	09/991,560	  	11/21/2001
	SP99-076-8	  	10/175,552
 7,210,783
	  	06/18/2002
 5/1/2007

	SF99-076-9	  	10/176,947	  	06/18/2002
	SF99-076-A	  	10/177,722	  	06/18/2002
	SF99-076-B	  	10/192,017	  	07/10/2002
	SF99-076-C	  	10/223,086
 6,813,097
	  	08/15/2002
 11/2/2004

	SF99-076-D	  	10/358,065
 6,824,266
	  	02/03/2003
 11/30/2004

  
 2 

					
	 UC Case Number
	  	United States Application Number or
United States Patent Number	  	Filing or issue Date
	SF99-076-E	  	11/454,472	  	06/16/2006
		  	7,837,326	  	11/23/2010
	SF99-076-F	  	11/743,119	  	05/01/2007
		  	7.,98,644	  	9/21/2010

 Regents’ Patent Rights shall further Include any divisionals, continuations, or continuations-in-part (but only to the extent such continuations-in-part have inventors from both institutions and to the extent they
are enabled by the parent case) thereof; any corresponding foreign applications thereof; and any U.S. or foreign patents issued thereon or reissues or extensions thereof. Specifically excluded from the Regents’ Patent Rights are a) UC Case
Number SF99-026-1 (U.S. Application No. 60/063,297 filed on October 27th, 1997), b) UC Case Number SF99-026-2 (U.S. Patent No. 6,149,931, issued on November 21st, 2000), c) UC Case Number SF99-026-3 (U.S. Patent No.
6,475,508, issued on November 5th, 2002) and, d) any divisionals, continuations, or continuations-in-part
thereof; any corresponding foreign applications thereof; and any U.S. or foreign patents issued thereon or reissues or extensions thereof.” 

The Agreement shall remain in full force and effect in accordance with its terms except as amended herein. 

  
 3 

 IN WITNESS WHEREOF, The Regents and the Licensee have executed this Amendment by their
respective and duly authorized representatives, as evidenced by the signatures below on the day and year hereinafter written. 
  

									
	CALHOUN VISION, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 /s/ Ron Kurtz
	 		 	By:	 	 /s/ Sunita Rajdev

		 	(Signature)	 		 		 	(Signature)
	Name:	 	 Ron Kurtz
	 		 	Name:	 	Sunita Rajdev
		 	(Please print)	 		 		 	
	Title:	 	President & CEO	 		 	Title:	 	Associate Director, Technology Management
		 		 		 		 	Innovation, Technology & Alliances
	Date:	 	11/9/16	 		 	Date:	 	11/10/16

  

			
	Approved as to legal term.	 	
		
	 /s/ Rita A. Hoo
	 	 11-8-2016

	 Rita A. Hoo 

Senior Counsel
	 	Dale
	Office of the General Counsel	 	

  
 4 

 FOURTH AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT FOR 

SILICONE INTRAOCULAR LENSES EMBEDDED WITH PHOTOSENSITIVE 

COMPOSITIONS and METHODS AND PHARMACEUTICAL COMPOSITIONS FOR THE 

CLOSURE OF RETINAL BREAKS 
 This
amendment (“Amendment”) is made effective this 4th of April, 2017 (“Amendment Effective Date”), between The Regents of the University of California, a California corporation,
having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 (“The Regents”) and acting through its University of California, San Francisco Office of Innovation, Technology &
Alliances, 3333 California Street, Suite S-l1, San Francisco, CA, 94143-1209 (“UCSF”) and RxSight, Inc., a California corporation, having a principal place of business at 100 Columbia, Suite 120,
Aliso Viejo, CA 92656 (the “Licensee”). 
 BACKGROUND 
  

	 	A.	 Whereas, Licensee and The Regents entered into a license agreement effective March 1, 2000, having UC
Agreement Control No. 2000-04-0032 (the “Agreement”); 

  

	 	B.	 Whereas, the Agreement was amended on May 29th, 2008 (UC
Control No. 2000-04-0032 RevJ) to exclude UCSF Case No. SF99-026-2 from the
Regents’ Patent Rights listed in Section 1.6 of the Agreement; 

  

	 	C.	 Whereas, the Agreement was amended on December 5th, 2013
(UC Control No. 2000-04-0032 RevL) to settle the milestone payment owed by Licensee and extend the diligence requirement of Section 8.3.3 of the Agreement;

  

	 	D.	 Whereas, the Agreement was amended on November 10th, 2016
to clarify and update the Regents’ Patent Rights listed in Section 1.6 of the Agreement. 

  

	 	E.	 Whereas, the Licensee and The Regents now desire to amend the Agreement to clarify the term of the Agreement
and manufacturing obligations with respect to the Inventions. 

 THEREFORE, in view of the foregoing, the parties agree as follows: 

 

	 	1.	 Defined terms in this Amendment have the meaning set forth in the Agreement unless specifically changed by the
provisions hereof. 

  

	 	2.	 The following sentence is hereby inserted at the end of Section 7.1; 

“Licensee’s royalty obligations set forth in forth Section 7.1 shall commence with the first commercial sale of a Licensed
Product or Licensed Method where such Licensed Product or Licensed Method is covered by a Valid Claim at any time, and continue until the expiration of the
last-to-expire patent included in The Regents’ Patent Rights licensed under this Agreement, 

 IN WITNESS WHEREOF, The Regents and the Licensee have executed this Amendment by their
respective and duly authorized representatives, as evidenced by the signatures below on the Amendment Effective Date. 
  

									
	RXSIGHT, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 /s/ Ron Kurtz
	 		 	By:	 	 /s/ Karin Immorgluck

		 	(Signature)	 		 		 	(Signature)
	Name:	 	 Ron Kurtz
	 		 	Name:	 	Karin Immorgluck
		 	(Please print)	 	
	Title:	 	President & CEO	 		 	Title:	 	Executive Doctor, Technology Management
		 		 		 		 	Innovation, Technology & Alliances
	Date:	 	4/3/2017	 		 	Date:	 	4/4/2017

 FIFTH AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT FOR 

SILICONE INTRAOCULAR LENSES EMBEDDED WITH PHOTOSENSITIVE 

COMPOSITIONS and METHODS AND PHARMACEUTICAL COMPOSITIONS FOR THE 

CLOSURE OF RETINAL BREAKS 
 This
amendment (“Amendment”) is made effective this 21st day of June, 2017 (“Amendment Effective Date”), between The Regents of the University of California, a California
corporation, having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 (“The Regents”) and acting through its University of California, San Francisco Office of Innovation,
Technology & Alliances, 3333 California Street, Suite S-11, San Francisco, CA, 94143- 1209 (“UCSF”) and RxSight, Inc., a California corporation, having a principal place of business at 100 Columbia, Suite 120, Aliso Viejo, CA
92656 (the “Licensee”). 
 BACKGROUND 
  

	 	A.	 Whereas, Licensee and The Regents entered into a license agreement effective March 1, 2000, having UC
Agreement Control No. 2000-04-0032 (the “Agreement”); 

  

	 	B.	 Whereas, the Agreement was amended on May 29th, 2008 (UC
Control No. 2000-04-0032 RevJ) to exclude UCSF Case No. SF99-O26-2 from the
Regents’ Patent Rights listed in Section 1.6 of the Agreement; 

  

	 	C.	 Whereas, the Agreement was amended on December 5th, 2013
(UC Control No. 2000-04- 0032 RevL) to settle the milestone payment owed by Licensee and extend the diligence requirement of Section 8.3.3 of the Agreement;

  

	 	D.	 Whereas, the Agreement was amended on November 10th, 2016
(UC Control No. 2000-04- 0032 RevM) to clarify and update the Regents’ Patent Rights listed in Section 1.6 of the Agreement; 

 

	 	E.	 Whereas, the Agreement was amended on April 4, 2017 (UC Control No. 2000-04-0032 RevO) to clarify the Royalty Term described in Sections 7.1 and 11.1 as well as clarify the manufacturing requirement in Section 26.1; and 

 

	 	F.	 Whereas, the Licensee and The Regents now desire to amend the Agreement to extend the last due diligence
milestone and amend the last milestone payment amount. 

 THEREFORE, in view of the foregoing, the parties agree as follows: 

 

	 	1.	 Defined terms in this Amendment have the meaning set forth in the Agreement unless specifically changed by the
provisions hereof. 

  

	 	2.	 The last milestone payment of Section 7.3 of the Agreement is deleted and replaced with the

	 	
following: 

 “Approval by the FDA of a Pro-Marketing Approval Application (or equivalent application with the FDA) [***].” 
  

	 	3.	 Section 8.3.3 is hereby deleted in its entirety and replaced with the following: 

“8.3.3 achieve approval by the United States Food and Drug Administration (“FDA”) of a
Pre-Marketing Approval Application (or equivalent application with the FDA) by December 31, 2018, and achieve first commercial sale of a Licensed Product in the USA by December 31, 2019; and”

 The Agreement shall remain in full force and effect in accordance with its terms except as amended herein. 

[Signature Page Follows] 

 IN WITNESS WHEREOF, The Regents and the Licensee have executed this Amendment by their
respective and duly authorized representatives, as evidenced by the signatures below on the Amendment Effective Date. 
  

									
	RXSIGHT, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 /s/ Ron Kurtz
	 		 	By:	 	 /s/ Sunita Rajdev

		 	(Signature)	 		 		 	(Signature)
	Name:	 	 Ron Kurtz
	 		 	Name:	 	Sunita Rajdev
		 	(Please print)	 		 		 	
	Title:	 	President & CEO	 		 	Title:	 	 Associate Director, Technology Management

Innovation, Technology & Alliances

	Date:	 	6/22/17	 		 	Date:	 	6-22-17

  

			
	Approved as to legal form.	 	
		
	 /s/ Rita A. Hao
	 	 6-21-2017

	Rita A. Hao	 	Date
	Senior Counsel	 	
	Office of the General Counsel	 	

 SIXTH AMENDMENT TO EXCLUSIVE LICENSE AGREEMENT FOR 

SILICONE INTRAOCULAR LENSES EMBEDDED WITH PHOTOSENSITIVE 

COMPOSITIONS and METHODS AND PHARMACEUTICAL COMPOSITIONS FOR THE 

CLOSURE OF RETINAL BREAKS 
 This
amendment (“Amendment”) is made effective this 21st day of May, 2019 (“Amendment Effective Date”), between The Regents of the University of California, a California
corporation, having its statewide administrative offices at 1111 Franklin Street, 12th Floor, Oakland, California 94607-5200 (“The Regents”) and acting through its University of California, San Francisco Office of Technology Management,
600 16th Street, Suite S-272, San Francisco, CA, 94143 (“UCSF”) and RxSight, Inc., a California corporation, having a principal place of business
at 100 Columbia, Suite 120, Aliso Viejo, CA 92656 (the “Licensee”). 
 BACKGROUND 

 

	 	A.	 Whereas, Licensee and The Regents entered into a license agreement effective March 1, 2000, having UC
Agreement Control No. 2000-04-0032 (the “Agreement”); 

  

	 	B.	 Whereas, the Agreement was amended on May 29th, 2008 (UC
Control No. 2000-04-0032 RevJ) to exclude UCSF Case No. SF99-026-2 from the
Regents’ Patent Rights listed in Section 1.6 of the Agreement; 

  

	 	C.	 Whereas, the Agreement was amended on December 5th, 2013
(UC Control No. 2000-04-0032 RevL) to settle the milestone payment owed by Licensee and extend the diligence requirement of Section 8.3.3 of the Agreement;

  

	 	D.	 Whereas, the Agreement was amended on November 10th, 2016
(UC Control No. 2000-04-0032 RevM) to clarify and update the Regents’ Patent Rights listed in Section 1.6 of the Agreement; 

 

	 	E.	 Whereas, the Agreement was amended on April 4th, 2017 (UC
Control No. 2000-04-0032 RevO) to clarify the Royalty Term described in Sections 7.1 and 11.1 as well as clarify the manufacturing requirement in Section 26.1;

  

	 	F.	 Whereas, the Agreement was amended on June 21st, 2017 (UC
Control No. 2000-04-0032 RevP) to update Sections 7.3 and 8.3.3; and 

  

	 	G.	 Whereas, the Licensee and The Regents now desire to amend the Agreement to include obligations to the United
States Department of Veteran Affairs (“VA”). 

 THEREFORE, in view of the foregoing, the parties agree as follows: 

 

	 	1.	 Defined terms in this Amendment have the meaning set forth in the Agreement unless specifically changed by the
provisions hereof, 

  

	 	2.	 The following Paragraphs shall be added to the Background section of the Agreement: 

“The development of the Invention was sponsored in part by the United States Federal Government, and as a consequence this license is
subject to overriding obligations to the United States Federal Government under 35 U.S.C. §§ 200-212 and applicable regulations including a non-exclusive, non-transferable, irrevocable, paid-up license to practice or have practiced the Invention for or on behalf of the United States Government throughout the world. 

Dr. Daniel M. Schwartz is an employee of the Veterans Administration Medical Center and The Regents. In accordance with the policy
of the United States Department of Veterans Affairs (“VA”), the Invention (UC Case No. 1999-076) was reported to the VA for a determination of rights. On May 21st, 2019, the VA asserted the U.S, Federal Government’s rights in the Invention. The Regents and the VA entered into a letter agreement with an effective date of May 21st, 2019 (“Letter Agreement”, hereby attached as Appendix A), whereby the VA granted The Regents the right to administer the Invention on behalf of both parties.” 

 

	 	3.	 Paragraph 2 of the Agreement is deleted in its entirety and replaced with the following: 

 

	 	“2.1	 Subject to the limitations and other terms and conditions set forth in this Agreement including the license
granted to the United States Government and those reserved by The Regents set forth in the Background and in Paragraphs 2.5 (obligations to the United States Government), The Regents grants to the Licensee a world-wide license under its rights in
and to Regents’ Patent Rights to make, have made, use, sell, offer to sell and import Licensed Products and to practice Licensed Methods. 

 

	 	2.2	 Except as otherwise provided in this Agreement, the license granted under Paragraph 2.1 is exclusive for the
life of the Agreement. 

  

	 	2.3	 The license granted in Paragraph 2.1 and 2.2 is limited to Licensed Methods and Licensed Products that are
within the Field of Use. For other methods and products, the Licensee has no license under this Agreement. 

  

	 	2.4	 The Regents, the VA and Caltech reserve the right to use the Invention and associated technology for their
own educational and research purposes. 

	 	2.5	 The license granted in Paragraph 2 and 3 is subject to the following: 

The obligations to the United States Government under 35 U.S.C. §§ 200-212 and all
applicable governmental implementing regulations, as amended from time to time, including the obligation to report on the utilization of the Invention as set forth in 37 CFR. § 401.14(h), and all applicable provisions of any license to the
United States Government executed by The Regents; and 
 the National Institutes of Health “Principles and Guidelines for
Recipients of NIH Research Grants and Contracts on Obtaining and Disseminating Biomedical Research Resources,” 64 F.R. 72090 (Dec. 23, 1999), as amended from time to time.” 

 

	 	4.	 Paragraph 16.3 shall be replaced in its entirety with the following: 

“IN NO EVENT MAY EITHER PARTY, CALTECH OR THE VA BE LIABLE FOR ANY INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES RESULTING FROM THE
GRANT OR EXERCISE OF THIS LICENSE OR THE USE OF THE INVENTIONS OR LICENSED PRODUCTS.” 
  

	 	5.	 The last sentence of Paragraph 17.1 shall be replaced in its entirety with the following:

 “The Regents’ counsel will take instructions only from The Regents, and all patents and patent
applications under this Agreement will be assigned solely to The Regents (and as relevant the VA and Caltech).” 
 The Agreement
shall remain in full force and effect in accordance with its terms except as amended herein. 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, The Regents and the Licensee have executed this Amendment by their
respective and duly authorized representatives, as evidenced by the signatures below on the Amendment Effective Date. 
  

									
	RXSIGHT, INC.	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 /s/ Ron Kurtz
	 		 	By:	 	 /s/ Gonzalo Barrera-Hernandez, Ph.D.

		 	(Signature)	 		 		 	(Signature)
	Name:	 	 Ron Kurtz
	 		 	Name:	 	 Gonzalo Barrera-Hernandez, Ph.D.

		 	(Please print)	 		 		 	(Please print)
	Title:	 	CEO	 		 	Title:	 	Associate Director Innovation Venture UCSF
	Date:	 	8/27/2019	 		 	Date:	 	9/3/2019

 APPENDIX A 

LETTER AGREEMENT BETWEEN THE REGENTS OF THE UNIVERSITY OF 

CALIFORNIA AND THE UNITED STATES DEPARTMENT OF VETERANS 

FOR 
 ADJUSTABLE INTRAOCULAR LENS

 This letter agreement (“Agreement”) is made effective this 21st day of
May, 2019 (“Effective Date”), between The Regents of the University of California, a California corporation having its statewide administrative offices at 1111 Franklin Street, 12th
Floor, Oakland, CA 94607-5200 (“The Regents”), aoting through its Office of Technology Management, University of California San Francisco (“UCSF”), with an address of 600 16th
Street, Suite S-272, San Francisco, CA 94143 (“UCSF”) and the United States Department of Venterans Affairs (“VA”), as represented by the Technology Transfer Program (“TTP”), Office of Research and Development, having
an address at 810 Vermont Avenue NW, Washington, D.C. 20420. 
 BACKGROUND 

 

	 	A.	 Whereas, certain research performed at UCSF by Daniel M. Schwartz, and at the California Institute of
Technology (“Caltech”) by Jaqdish M. Jethmaliani, Julia A. Kornfield and Robert Grubbs at the California Institute of Technology (“Caltech”), resulted in the development of inventions generally characterized as “Adjustable
Intraocular Lens” and disclosed in UC Case No. SF1999-076 and CIT 3062 (the “Invention”). 

  

	 	B.	 Whereas the Invention is covered by US Patent Nos. 6,450,642; 6,749,632; 7,210,783; 6,813,097; 6,824,266;
7,837,326; and 7,798,664; and corresponding foreign patents. 

  

	 	C.	 Whereas, The Regents and Caltech entered into an Inter-Institutional Agreement with an effective date of
December lst, 1999 (UC Agreement Control No. 2000-18-0021); as amended on March 21st, 2001; and as further amended on November 17th, 2016 (“IIA”), 

 

	 	D.	 Whereas, under the terms of the IIA Caltech granted to The Rogonts the sole responsibility for administering
and commercializing the Invention on behalf of both 

	 	
parties. 

  

	 	E.	 Whereas, subject to the terms of the IIA, The Regents exclusively licensed its rights in the Invention to
Calhoun Vision, Inc. (now RxSight, Inc.) with an effective date of March 1st, 2000 (UC Agreement Control No. 2000-04-0032) (the “RxSight License”). 

 

	 	F.	 Whereas, Dan M. Schwartz is a VA employee and the VA’s Office of General Counsel, subject to its rights
under 37 C.F.R § 501.6(a)(1), reviewed the relevant records related to the Invention and asserted an ownership right in and to the Invention in a letter to Dan M. Schwartz dated May 21st,
2019 (OGC Case No. 33853). 

  

	 	G.	 Whereas, it is the desire of The Regents and the VA that the Invention be administered by The Regents on behalf
of both parties. 

  

	 	H.	 Whereas, on May 19th, 2000, The Regents and the VA entered
into a Cooperative Technology Administration Agreement governing the administration of inventions made by any person who is employed by and has entered into a signed employment or patent agreement with both the VA and The Regents (UC Agreement
Control No. 2000-18-0690) (the “CTAA”). 

 THEREFORE, in view of the foregoing the parties agree as follows:

  

	 	1.	 Defined terms in this Agreement have the meaning set forth in the Background section above, unless specifically
changed by the provisions hereof. 

  

	 	2.	 The Regents will file with the United States Patent and Trademark Office (“USPTO”) an assignment
transferring to the VA an undivided interest of UCSF’s rights in the US patents listed above in Paragraph B of Background. 

  

	 	3.	 The Parties agree that, as of the Effective Date, The Regents will administer patent prosecution and licensing
of the Invention on behalf of both The Regents and the VA. The VA shall not grant to any person or entity (other than The Regents) any commercial right, license, title or interest in, to, or under the Invention and US Patents and corresponding
foreign counterparts, described above in Paragraph B of the Background. 

  
 Page 2 of 3 

	 	4.	 The Regents will share with the VA, pursuant to the terms of the CTAA, any Net Revenues (as defined in the
CTAA) from any License Agreement (as defined in the CTAA) received by The Regents prior to the Effective Date which have not already been distributed by The Regents. 

 

	 	5.	 The Regents will share with the VA, pursuant to the CTAA, Net Revenues (as defined in the CTAA) received by The
Regents as of the Effective Date from any License Agreement (as defined in the CTAA). 

  

	 	6.	 The Regents will amend the RxSight License to reference the VA’s contribution towards development of the
Invention and include obligations to the United States Federal Government, as per the attached draft sixth amendment to the RxSight License (Exhibit A). 

IN WITNESS WHEREOF, The Regents and the VA have executed this Agreement, by their respective and duly authorized representatives, as evidenced
by the signatures below on the day and year hereinafter written. 
  

									
	U.S. DEPARTMENT OF VETERAN AFFAIRS	 		 	THE REGENTS OF THE UNIVERSITY OF CALIFORNIA
					
	By:	 	 /s/ John J. Kaplan
	 		 	By:	 	 /s/ Gonzalo Barrera-Hernandez, Ph.D.

	Name:	 	John J. Kaplan	 		 	Name:	 	Gonzalo Barrera-Hernandez, Ph.D.
	Title:	 	Director, TTP	 		 	Title:	 	Associate Director Innovation Ventures UCSF
	Date:	 	16 July 2019	 		 	Date:	 	July 16, 2019

  
 Page 3 of 3

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