Document:

Lease entered into as of February 10, 2012

 Exhibit 10.2 
 Confidential Materials omitted and filed separately with the 
 Securities and
Exchange Commission. Asterisks denote omissions. 
 LEASE 

by and between 

BMR-FRESH POND RESEARCH PARK LLC, 
 a Delaware limited liability company 
 and 

ALNYLAM PHARMACEUTICALS, INC., 
 a Delaware corporation 

 LEASE 

THIS LEASE (this “Lease”) is entered into as of this 10th day of February, 2012 (the “Execution Date”), by
and between BMR-FRESH POND RESEARCH PARK LLC, a Delaware limited liability company (“Landlord”), and ALNYLAM PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”). 

RECITALS 
 A. WHEREAS, Landlord owns certain real property (together with adjacent real property owned by Landlord, the “Property”) and the improvements on the Property located in Cambridge,
Massachusetts, including the building located at 665 Concord Avenue, Cambridge, Massachusetts (the “Building”) and other buildings located on such Property; and 

B. WHEREAS, Landlord wishes to lease to Tenant, and Tenant desires to lease from Landlord, the Premises (as defined below), pursuant to
the terms and conditions of this Lease, as detailed below. 
 AGREEMENT 

NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows: 
 1. Lease
of Premises. 
 1.1. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the portion of the Property
on which the Building sits and all improvements and appurtenances related thereto, including the Building, as shown on Exhibit A attached hereto, including exclusive shafts, cable runs, mechanical spaces and rooftop areas, for use by Tenant
in accordance with the Permitted Use (as defined below) and no other uses (the “Premises”). The Property and all landscaping, parking facilities, private drives and other improvements and appurtenances related thereto, including the
Building and other buildings located on the Property, are hereinafter collectively referred to as the “Project.” All portions of the Project that are for the non-exclusive use of tenants of the Project generally, including
driveways, sidewalks, parking areas and landscaped areas, but excluding the common areas of any other building in the Project, are hereinafter referred to as “Common Area.” 
 2. Basic Lease Provisions. For convenience of the parties, certain basic provisions of this Lease are set forth herein. The provisions set forth herein are subject to the remaining terms and
conditions of this Lease and are to be interpreted in light of such remaining terms and conditions. 
 2.1. This Lease shall
take effect upon the Execution Date and, except as specifically otherwise provided within this Lease, each of the provisions hereof shall be binding upon and inure to the benefit of Landlord and Tenant from the date of execution and delivery hereof
by all parties hereto. 

 2.2. In the definitions below, each current Rentable Area (as defined below) is expressed
in rentable square footage. Rentable Area and “Tenant’s Pro Rata Shares” are all subject to adjustment as provided in this Lease. 
  

			
	 Definition or Provision
	  	Means the Following (As of the Term
Commencement Date)
		
	 Approximate Rentable Area of Premises
	  	15,150 square feet
		
	 Approximate Rentable Area of Building
	  	15,150 square feet
		
	 Approximate Rentable Area of Project
	  	89,176 square feet
		
	 Tenant’s Pro Rata Share of Building
	  	100%
		
	 Tenant’s Pro Rata Share of Project
	  	16.99%

 2.3. Initial monthly and annual installments of Base Rent for the Premises (“Base Rent”)
as of the Term Commencement Date (as defined below): 
  

																	
	 Dates
	  	Square Feet of
Rentable Area	 	  	Base Rent per
Square Foot of
Rentable Area	 	  	Monthly Base
Rent	 	  	Annual Base
Rent	 
					
	 Months 1-3
	  	 	15,150	  	  	$	0.00	  	  	$	0.00	  	  	 	N/A	  
					
	 Months 4-15
	  	 	15,150	  	  	$	32.00 annually	  	  	$	40,400.00	  	  	$	484,800.00	  
					
	 Months 16-27
	  	 	15,150	  	  	$	32.96 annually	  	  	$	41,612.00	  	  	$	499,344.00	  
					
	 Months 28-39
	  	 	15,150	  	  	$	33.95 annually	  	  	$	42,861.88	  	  	$	514,342.50	  
					
	 Months 40-51
	  	 	15,150	  	  	$	34.97 annually	  	  	$	44,149.63	  	  	$	529,795.50	  
					
	 Months 52-63
	  	 	15,150	  	  	$	36.02 annually	  	  	$	45,475.25	  	  	$	545,703.00	  

 2.4. Estimated Term Commencement Date: June 1, 2012 

2.5. Estimated Term Expiration Date: August 31, 2017 
 2.6. Security Deposit: $161,600.00, subject to increase in accordance with the terms hereof 
 2.7. Permitted Use: Office, laboratory [**] use in conformity with all federal, state, municipal and local laws, codes, ordinances, rules and regulations of Governmental Authorities (as defined below),
committees, associations, or other regulatory committees, agencies or 

  
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governing bodies having jurisdiction over the Premises, the Building, the Property, the Project, Landlord or Tenant, including both statutory and common law and hazardous waste rules and
regulations (“Applicable Laws”) 
  

					
	2.8. Address for Rent Payment:	 	BMR-Fresh Pond Research Park LLC
		 	P.O. Box 51919, Unit E
		 	Los Angeles, CA 90051-6219
			
	2.9. Address for Notices to Landlord:	 		  	BMR-Fresh Pond Research Park LLC
		 		  	17190 Bernardo Center Drive
		 		  	San Diego, California 92128
		 		  	Attn: Vice President, Real Estate Counsel
			
	2.10. Address for Notices to Tenant:	 		  	Alnylam Pharmaceuticals, Inc.
		 		  	300 Third Street
		 		  	Cambridge, Massachusetts 02142
		 		  	Attn: Chief Operating Officer
			
		 		  	With a copy to:
			
		 		  	Faber Daeufer Itrato & Cabot PC
		 		  	950 Winter Street, Suite 4500
		 		  	Waltham, Massachusetts 02451
		 		  	Attn: Brian Connelly
			
	 2.11.Address for Invoices to Tenant:
	 		  	Alnylam Pharmaceuticals, Inc.
		 		  	300 Third Street
		 		  	Cambridge, Massachusetts 02142
		 		  	Attn: Controller

 2.12. The following Exhibits are attached hereto and incorporated herein by reference: 

 

			
	Exhibit A	  	Premises
	Exhibit B	  	Work Letter
	Exhibit C	  	Acknowledgement of Term Commencement Date and Term Expiration Date
	Exhibit D	  	Tenant Manual
	Exhibit E	  	Form of Letter of Credit
	Exhibit F	  	Rules and Regulations
	Exhibit G	  	Shuttle Service Description
	Exhibit H	  	Tenant’s Personal Property
	Exhibit I	  	Form of Estoppel Certificate
	Exhibit J	  	CAM Pools and Maintenance Matrix
	Exhibit K	  	Reserved Parking

 3. Term. The actual term of this Lease (as the same may be extended pursuant to Article 42 hereof, and as
the same may be earlier terminated in accordance with this Lease, the “Term”) shall commence on the actual Term Commencement Date (as defined in Article 4) and end on the date that is sixty-three (63) months after the
actual Term Commencement Date (such date, the “Term Expiration Date”), subject to earlier termination of this Lease as provided herein. 

  
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 4. Possession and Commencement Date. 

4.1. The “Term Commencement Date” shall be the earlier of (a) the Estimated Term Commencement Date and (b) the
date that the (i) the work to the interior of the Building described in the Work Letter (the “Premises Improvements”) and (ii) the base building improvements described in the Work Letter (the “Base Building
Improvements” and together with the Premises Improvements, the “Tenant Improvements”) is Substantially Complete; provided, however, that the Estimated Term Commencement Date shall be extended, on a day-for-day basis,
for each day of Landlord Delay (defined below). Tenant shall execute and deliver to Landlord written acknowledgment of the actual Term Commencement Date and the Term Expiration Date within ten (10) days after Tenant takes occupancy of the
Premises, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain
validation by any medical review board or other similar governmental licensing of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date. The term “Substantially Complete” or
“Substantial Completion” means that the Tenant Improvements are substantially complete in accordance with the Approved Plans (as defined in the Work Letter), except for minor punch list items. Upon Substantial Completion, Tenant
shall deliver to Landlord (i) a certificate of occupancy for the Premises suitable for the Permitted Use and (ii) a Certificate of Substantial Completion in the form of the American Institute of Architects document G704, executed by the
project architect and the general contractor. Landlord, at Tenant’s sole cost and expense, agrees to provide Tenant with any reasonable assistance needed to obtain the certificate of occupancy for the Premises. 

As used herein, “Landlord Delay” shall mean and refer to: (a) delays due to the remediation of Pre-Existing
Hazardous Conditions (as defined in Section 5) and (b) any other delay solely due to Landlord’s actions or inactions. No such Landlord Delay shall be deemed to have commenced unless Landlord shall have failed to cure the same
within two business days after Landlord’s receipt of written notice thereof from Tenant. 
 4.2. Tenant shall cause the
Premises Improvements to be constructed in the Premises pursuant to the Work Letter attached hereto as Exhibit B (the “Work Letter”) at a cost to Landlord not to exceed Five Hundred Thirty Thousand Two Hundred Fifty Dollars
($530,250) (based upon Thirty-Five Dollars ($35) per square foot of Rentable Area (as defined below)) (the “Premises Allowance”). Tenant shall cause the Base Building Improvements to be constructed in the Premises pursuant to the
Work Letter at a cost to Landlord not to exceed One Million Five Hundred Fifteen Thousand Dollars ($1,515,000) (based upon One Hundred Dollars ($100) per square foot of Rentable Area (as defined below)) (the “Base Building
Allowance”). The Premises Allowance coupled with the Base Building Allowance shall be referred to herein as the “TI Allowance.” The TI Allowance may be applied to the costs of (n) construction, (o) space planning,
architect, engineering and other related services performed by third parties unaffiliated with Tenant, (p) building permits and other taxes, fees, charges and levies by Governmental Authorities (as defined below) for permits or for inspections
of the Tenant Improvements, and (q) costs and expenses for labor, material, equipment and fixtures. In no event shall the TI 

  
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Allowance be used for (v) the cost of work that is not authorized by the Approved Plans (as defined in the Work Letter) or otherwise approved in writing by Landlord, (w) payments to
Tenant or any affiliates of Tenant, (x) the purchase of any furniture, personal property or other non-building system equipment, (y) costs resulting from any default by Tenant of its obligations under this Lease or (z) costs that are
recoverable by Tenant from a third party (e.g., insurers, warrantors, or tortfeasors). Landlord shall not charge for and shall not be entitled to recover any fees or costs related to Landlord’s project review of the Tenant Improvements.

 4.3. Tenant shall have until the date that is ten (10) months after the Execution Date, provided that such date shall be
subject to extension on a day-for-day basis for each day of Landlord Delay during such time period (the “TI Deadline”), to expend the unused portion of the TI Allowance, after which date Landlord’s obligation to fund such costs
shall expire. 
 4.4. In no event shall any unused TI Allowance entitle Tenant to a credit against Rent payable under this
Lease. 
 4.5. Prior to entering upon the Premises, Tenant shall furnish to Landlord evidence satisfactory to Landlord that
insurance coverages required of Tenant under the provisions of Article 23 are in effect, and such entry shall be subject to all the terms and conditions of this Lease. 
 5. Condition of Premises. Tenant acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of the Premises or with respect
to the suitability of the Premises for the conduct of Tenant’s business. Tenant acknowledges that (a) other than the presence of any Hazardous Materials (as defined in Section 21.9) (i) in the Premises in violation of
Applicable Laws as of the Execution Date, (ii) that are not actually known to Tenant as of the Execution Date or that could not have been discovered by Tenant upon reasonable inspection prior to the Execution Date and (iii) that were not
placed at the Project by Tenant or its affiliates, employees, agents or contractors (collectively, “Pre-Existing Hazardous Conditions”), Tenant is fully familiar with the condition of the Premises and agrees to take the same in its
condition “as is” as of the Execution Date and (b) Landlord shall have no obligation to alter, repair or otherwise prepare the Premises for Tenant’s occupancy or to pay for or construct any improvements to the Premises, except
with respect to the TI Allowance and the remediation of any Pre-Existing Hazardous Conditions as set forth in this Article. Tenant’s taking of possession of the Premises shall, except as otherwise agreed to in writing by Landlord and Tenant,
conclusively establish that the Premises were at such time in good, sanitary and satisfactory condition and repair. In the event that, during the performance of the Tenant Improvements, Pre-Existing Hazardous Conditions are discovered, Tenant shall
promptly notify Landlord of such discovery and Landlord, at its sole cost and expense, shall (y) work with Tenant diligently and in good faith to remediate such Pre-Existing Hazardous Conditions and (z) indemnify and hold Tenant harmless
from any Claims resulting from the presence of Pre-Existing Hazardous Conditions. 
 6. Rentable Area. 

6.1. The term “Rentable Area” shall reflect such areas as reasonably calculated by Landlord’s architect, as the
same may be reasonably adjusted from time to time by Landlord in consultation with Landlord’s architect to reflect changes to the Premises, the Building or the Project, as applicable. 

  
 5 

 6.2. The Rentable Area of the Building is generally determined by making separate
calculations of Rentable Area applicable to each floor within the Building and totaling the Rentable Area of all floors within the Building. The Rentable Area of a floor is computed by measuring to the outside finished surface of the permanent outer
Building walls. The full area calculated as previously set forth is included as Rentable Area, without deduction for columns and projections or vertical penetrations, including stairs, elevator shafts, flues, pipe shafts, vertical ducts and the
like, as well as such items’ enclosing walls. 
 6.3. The term “Rentable Area,” when applied to the
Premises, is that area equal to the usable area of the Premises, plus an equitable allocation of Rentable Area within the Building that is not then utilized or expected to be utilized as usable area, including that portion of the Building devoted to
corridors, equipment rooms, restrooms, elevator lobby, atrium and mailroom. 
 6.4. The Rentable Area of the Project is the
total Rentable Area of all buildings within the Project. 
 6.5. Review of allocations of Rentable Areas as between tenants of
the Building and the Project shall be made as frequently as Landlord deems appropriate, including in order to facilitate an equitable apportionment of Operating Expenses (as defined below). If such review is by a licensed architect and allocations
are certified by such licensed architect as being correct, then Tenant shall be bound by such certifications. 
 7. Rent. 

7.1. Tenant shall pay to Landlord as Base Rent for the Premises, commencing on the Term Commencement Date, the sums set forth in
Section 2.3. Base Rent shall be paid in equal monthly installments as set forth in Section 2.3, each in advance on the first day of each and every calendar month during the Term. 

7.2. In addition to Base Rent, Tenant shall pay to Landlord as additional rent (“Additional Rent”) at times hereinafter
specified in this Lease (a) Tenant’s Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) and (c) any other amounts that Tenant assumes or agrees to pay under the
provisions of this Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of this Lease
to be performed by Tenant, after notice and the lapse of any applicable cure periods. In calculating Operating Expenses, Landlord will allocate Operating Expense items which relate solely to one building of the Project and its occupants (including,
without limitation, portions thereof dedicated to non-exclusive use by building occupants) to the specific building to which such expenses relate, as further detailed in Exhibit J. Any Operating Expenses which cannot be allocated solely to
one building and its occupants will be allocated on a proportionate basis (based on relative square footage) among the buildings and occupants of the Project (or those buildings to which such Operating Expense relates, and their occupants, if it is
less than the entire Project) as further detailed in Exhibit J. 

  
 6 

 7.3. Base Rent and Additional Rent shall together be denominated “Rent.”
Rent shall be paid to Landlord, without abatement, deduction or offset, in lawful money of the United States of America at the office of Landlord as set forth in Section 2.8 or to such other person or at such other place as Landlord may
from time designate in writing. In the event the Term commences or ends on a day other than the first day of a calendar month, then the Rent for such fraction of a month shall be prorated for such period on the basis of a thirty (30) day month
and shall be paid at the then-current rate for such fractional month. 
 8. [Intentionally omitted.] 

9. Operating Expenses. 

9.1. As used herein, the term “Operating Expenses” shall include: 

(a) Government impositions including property tax costs consisting of real and personal property taxes and assessments, including amounts
due under any improvement bond upon the Building or the Project, including the parcel or parcels of real property upon which the Building, other buildings in the Project and areas serving the Building and the Project are located or assessments in
lieu thereof imposed by any federal, state, regional, local or municipal governmental authority, agency or subdivision (each, a “Governmental Authority”); taxes on or measured by gross rentals received from the rental of space in
the Project; taxes based on the square footage of the Premises, the Building or the Project, as well as any parking charges, utilities surcharges or any other costs levied, assessed or imposed by, or at the direction of, or resulting from Applicable
Laws or interpretations thereof, promulgated by any Governmental Authority in connection with the use or occupancy of the Project or the parking facilities serving the Project; taxes on this transaction or any document to which Tenant is a party
creating or transferring an interest in the Premises; any fee for a business license to operate an office building; and any expenses, including the reasonable cost of attorneys or experts, reasonably incurred by Landlord in seeking reduction by the
taxing authority of the applicable taxes, less tax refunds obtained as a result of an application for review thereof. Operating Expenses shall not include any net income, franchise, capital stock, estate or inheritance taxes, or taxes that are the
personal obligation of Tenant or of another tenant of the Project, or penalties and interest incurred by reason of Landlord’s failure to timely pay any taxes or other impositions of a Governmental Authority to the extent relating to a period in
which Tenant was not in default under this Lease; and 
 (b) All other costs of any kind paid or incurred by Landlord in
connection with the operation or maintenance of the Building and the Project allocated as set forth in Section 7.2, including costs of repairs and replacements to improvements within the Project as appropriate to maintain the Project as
required hereunder; costs of utilities furnished to the Common Areas; sewer fees; cable television; trash collection; cleaning, including windows; heating (other than for the Premises); ventilation (other than for the Premises); air-conditioning
(other than for the Premises); maintenance of landscaping and grounds; maintenance of drives and parking areas; security services and devices; building supplies; maintenance or replacement of equipment utilized for operation and maintenance of the
Project; license, permit and inspection fees; sales, use and excise taxes on goods and services purchased by Landlord in connection with the operation, maintenance or repair of the Project systems and equipment; telephone, postage, stationery
supplies and other expenses incurred in connection with the 

  
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operation, maintenance or repair of the Project; accounting, legal and other professional fees and expenses incurred in connection with the Project; costs of furniture, draperies, carpeting,
landscaping, snow removal and other customary and ordinary items of personal property provided by Landlord for use in Common Areas; capital expenditures provided, however, that any capital expenditures made that reduce the cost of operating
the Project shall constitute Operating Expenses in the amount over a given time period that is the greater of (i) the amount during such period that is generally permitted for capital expenditures as described above and (ii) the amount of
savings in operating the Project realized during such period as a result of such capital expenditures, in each case amortized over the useful life thereof, as reasonably determined by Landlord, in accordance with generally accepted accounting
principles not to exceed ten (10) years; costs of complying with Applicable Laws (except to the extent such costs are incurred to remedy non-compliance as of the Execution Date with Applicable Laws or incurred in connection with the remediation
of a Pre-Existing Hazardous Condition); costs to keep the Project in compliance with, or fees otherwise required under, any CC&Rs (as defined below); costs of any shuttle services provided to the Project or other public transportation
accoutrements benefitting the Project; insurance premiums, including premiums for public liability, property casualty, earthquake, terrorism and environmental coverages; portions of insured losses paid by Landlord as part of the deductible portion
of a loss pursuant to the terms of insurance policies; service contracts; costs of services of independent contractors retained to do work of a nature referenced above; and costs of compensation (including employment taxes and fringe benefits) of
all persons to the extent such persons perform regular and recurring duties connected with the day-to-day operation and maintenance of the Project, its equipment, the adjacent walks, landscaped areas, drives and parking areas, including janitors,
floor waxers, window washers, watchmen, gardeners, sweepers, plow trucks and handymen. 
 (c) Notwithstanding the foregoing,
Operating Expenses shall not include expenses directly paid for by Tenant pursuant to Section 18.2; any leasing commissions; expenses that relate to preparation of rental space for a tenant; expenses of initial development and
construction, including grading, paving, landscaping and decorating (as distinguished from maintenance, repair and replacement of the foregoing); legal expenses relating to other tenants; costs of repairs to the extent reimbursed by payment of
insurance proceeds received by Landlord (or which would have been reimbursable had Landlord carried the insurance required by this Lease); principal, interest and other expenses upon loans to Landlord or secured by a mortgage or deed of trust
covering the Project or a portion thereof (provided that interest upon a government assessment or improvement bond payable in installments shall constitute an Operating Expense under Subsection 9.1(a)); salaries of executive officers
of Landlord; depreciation claimed by Landlord for tax purposes (provided that this exclusion of depreciation is not intended to delete from Operating Expenses actual costs of repairs and replacements and reasonable reserves in regard thereto
that are provided for in Subsection 9.1(b)); and taxes that are excluded from Operating Expenses by the last sentence of Subsection 9.1(a). To the extent that Tenant uses more than Tenant’s Pro Rata Share of any item of Operating
Expenses, Tenant shall pay Landlord for such excess in addition to Tenant’s obligation to pay Tenant’s Pro Rata Share of Operating Expenses (such excess, together with Tenant’s Pro Rata Share, “Tenant’s Share”).

 9.2. Tenant shall pay to Landlord on the first day of each calendar month of the Term, as Additional Rent, (a) the
Property Management Fee (as defined below) and (b) Landlord’s estimate of Tenant’s Share of Operating Expenses with respect to the Building and the Project, as applicable, for such month. 

  
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 (x) The “Property Management Fee” shall equal three percent (3%) of
Base Rent due from Tenant. Tenant shall pay the Property Management Fee in accordance with Section 9.2 with respect to the entire Term, including any extensions thereof or any holdover periods, regardless of whether Tenant is obligated
to pay Base Rent, Operating Expenses or any other Rent with respect to any such period or portion thereof. For the first three (3) months of the Term, the Property Management Fee shall be calculated as if Tenant were paying Forty Thousand Four
Hundred Dollars ($40,400) per month for Base Rent. 
 (y) Within ninety (90) days after the conclusion of each calendar
year (or such longer period as may be reasonably required by Landlord), Landlord shall furnish to Tenant a statement showing in reasonable detail the actual Operating Expenses and Tenant’s Share of Operating Expenses for the previous calendar
year. Any additional sum due from Tenant to Landlord shall be due and payable within ten (10) days after Tenant’s receipt of such statement. If the amounts paid by Tenant pursuant to this Section exceed Tenant’s Share of Operating
Expenses for the previous calendar year, then Landlord shall credit the difference against the Rent next due and owing from Tenant; provided that, if the Lease term has expired, Landlord shall accompany said statement with payment for the
amount of such difference. 
 (z) Any amount due under this Section for any period that is less than a full month shall be
prorated (based on a thirty (30)-day month) for such fractional month. 
 9.3. Landlord may, from time to time, modify
Landlord’s calculation and allocation procedures for Operating Expenses, so long as such modifications produce Dollar results substantially consistent with Landlord’s then-current practice at the Project. 

9.4. [Intentionally omitted.] 
 9.5. Tenant shall not be responsible for Operating Expenses attributable to the time period prior to the Term Commencement Date; provided, however, that if Landlord shall permit Tenant possession
of the Premises prior to the Term Commencement Date, Tenant shall be responsible for Operating Expenses from such earlier date of possession. Tenant’s responsibility for Tenant’s Share of Operating Expenses shall continue to the latest of
(a) the date of termination of the Lease, (b) the date Tenant has fully vacated the Premises and (c) if termination of the Lease is due to a default by Tenant, the date of rental commencement of a replacement tenant. 

9.6. Operating Expenses for the calendar year in which Tenant’s obligation to share therein commences and for the calendar year in
which such obligation ceases shall be prorated on a basis reasonably determined by Landlord. Expenses such as taxes, assessments and insurance premiums that are incurred for an extended time period shall be prorated based upon the time periods to
which they apply so that the amounts attributed to the Premises relate in a reasonable manner to the time period wherein Tenant has an obligation to share in Operating Expenses. 

  
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 9.7. Within ten (10) business days after the end of each calendar month, Tenant shall
submit to Landlord an invoice, or, in the event an invoice is not available, an itemized list, of all costs and expenses that (a) Tenant has incurred (either internally or by employing third parties) during the prior month and (b) for
which Tenant reasonably believes it is entitled to reimbursements from Landlord pursuant to the terms of this Lease or that Tenant reasonably believes is the responsibility of Landlord pursuant to this Lease or the Work Letter. 

9.8. In the event that the Project is less than fully occupied, Tenant acknowledges that Landlord may extrapolate Operating Expenses that
vary depending on the occupancy of the Project, as applicable, by dividing (a) the total cost of Operating Expenses by (b) the Rentable Area of the Project (as applicable) that is occupied, then multiplying (y) the resulting quotient
by (z) ninety-five percent (95%) of the total Rentable Area of the Project (as applicable). Tenant shall pay Tenant’s Share of the product of (y) and (z), subject to adjustment as reasonably determined by Landlord;
provided, however, that Landlord shall not recover more than one hundred percent (100%) of Operating Expenses. 
 10. Taxes on
Tenant’s Property. 
 10.1. Tenant shall pay prior to delinquency any and all taxes levied against any personal
property or trade fixtures placed by Tenant in or about the Premises. 
 10.2. If any such taxes on Tenant’s personal
property or trade fixtures are levied against Landlord or Landlord’s property or, if the assessed valuation of the Building, the Property or the Project is increased by inclusion therein of a value attributable to Tenant’s personal
property or trade fixtures, and if Landlord, after written notice to Tenant, pays the taxes based upon any such increase in the assessed value of the Building, the Property or the Project, then Tenant shall, upon ten (10) days’ prior
written demand, repay to Landlord the taxes so paid by Landlord. 
 10.3. If any improvements in or alterations to the Premises,
whether owned by Landlord or Tenant and whether or not affixed to the real property so as to become a part thereof, are assessed for real property tax purposes at a valuation higher than the valuation at which improvements conforming to
Landlord’s building standards (the “Building Standard”) in other spaces in the Building are assessed, then the real property taxes and assessments levied against Landlord or the Building, the Property or the Project by reason
of such excess assessed valuation shall be deemed to be taxes levied against personal property of Tenant and shall be governed by the provisions of Section 10.2. Any such excess assessed valuation due to improvements in or alterations to
space in the Project leased by other tenants at the Project shall not be included in Operating Expenses. If the records of the County Assessor are available and sufficiently detailed to serve as a basis for determining whether said Tenant
improvements or alterations are assessed at a higher valuation than the Building Standard, then such records shall be binding on both Landlord and Tenant. 
 11. Security Deposit. 
 11.1. Tenant shall deposit with Landlord on or
before the Execution Date the sum set forth in Section 2.6 (the “Security Deposit”), which sum shall be held by Landlord as security for the faithful performance by Tenant of all of the terms, covenants and conditions of
this Lease to be kept and performed by Tenant during the period commencing on the Execution Date and 

  
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ending upon the expiration or termination of Tenant’s obligations under this Lease. If Tenant is in monetary default or otherwise Defaults with respect to any provision of this Lease,
including any provision relating to the payment of Rent, then Landlord may (but shall not be required to) use, apply or retain all or any part of the Security Deposit for the payment of any Rent or any other sum in default, or to compensate Landlord
for any other loss or damage that Landlord may suffer by reason of Tenant’s default. If any portion of the Security Deposit is so used or applied, then Tenant shall, within ten (10) days following demand therefor, deposit cash with
Landlord in an amount sufficient to restore the Security Deposit to its original amount, and Tenant’s failure to do so shall be a material breach of this Lease. The provisions of this Article shall survive the expiration or earlier termination
of this Lease until the later of (a) the date that Tenant surrenders the Premises to Landlord in the condition required under this Lease and (b) ninety (90) days after the expiration or earlier termination of this Lease. 

11.2. In the event of bankruptcy or other debtor-creditor proceedings against Tenant, the Security Deposit shall be deemed to be applied
first to the payment of Rent and other charges due Landlord for all periods prior to the filing of such proceedings. 
 11.3.
Landlord may deliver to any purchaser of Landlord’s interest in the Premises the funds deposited hereunder by Tenant, and thereupon Landlord shall be discharged from any further liability with respect to such deposit. This provision shall also
apply to any subsequent transfers. 
 11.4. If Tenant shall fully and faithfully perform every provision of this Lease to be
performed by it, then the Security Deposit, or any balance thereof, shall be returned to Tenant (or, at Landlord’s option, to the last assignee of Tenant’s interest hereunder) within thirty (30) days after the expiration or earlier
termination of this Lease. 
 11.5. If the Security Deposit shall be in cash, Landlord shall hold the Security Deposit in an
account at a banking organization selected by Landlord; provided, however, that Landlord shall not be required to maintain a separate account for the Security Deposit, but may intermingle it with other funds of Landlord. Landlord shall be
entitled to all interest and/or dividends, if any, accruing on the Security Deposit. Landlord shall not be required to credit Tenant with any interest for any period during which Landlord does not receive interest on the Security Deposit.

 11.6. The Security Deposit may be in the form of cash, a letter of credit or any other security instrument acceptable to
Landlord in its sole discretion. Tenant may at any time, except when Tenant is in Default (as defined below), deliver a letter of credit (the “L/C Security”) as the entire Security Deposit, as follows: 

(a) If Tenant elects to deliver L/C Security, then Tenant shall provide Landlord, and maintain in full force and effect throughout the
Term and until the date that is ninety (90) days after the then-current Term Expiration Date, a letter of credit in the form of Exhibit E issued by an issuer reasonably satisfactory to Landlord, in the amount of the Security Deposit,
with an initial term of at least one year. Landlord agrees that, as of the Execution Date, Cambridge Savings Bank is an acceptable issuer of the L/C Security. Landlord may require the L/C Security to be re-issued by a different issuer at any time
during the Term if Landlord reasonably believes that the issuing bank of the L/C Security is or may soon become insolvent; provided, however, Landlord shall return the existing L/C Security to the existing issuer

  
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immediately upon receipt of the substitute L/C Security. If any issuer of the L/C Security shall become insolvent or placed into FDIC receivership, then Tenant shall immediately deliver to
Landlord (without the requirement of notice from Landlord) substitute L/C Security issued by an issuer reasonably satisfactory to Landlord, and otherwise conforming to the requirements set forth in this Article. As used herein with respect to the
issuer of the L/C Security, “insolvent” shall mean the determination of insolvency as made by such issuer’s primary bank regulator (i.e., the state bank supervisor for state chartered banks; the OCC or OTS, respectively, for
federally chartered banks or thrifts; or the Federal Reserve for its member banks). If, at the Term Expiration Date, any Rent remains uncalculated or unpaid, then: (i) Landlord shall with reasonable diligence complete any necessary
calculations; (ii) Tenant shall extend the expiry date of such L/C Security from time to time as Landlord reasonably requires; and (iii) in such extended period, Landlord shall not unreasonably refuse to consent to an appropriate reduction
of the L/C Security. Tenant shall reimburse Landlord’s legal costs (as estimated by Landlord’s counsel) in handling Landlord’s acceptance of L/C Security or its replacement or extension. 

(b) If Tenant delivers to Landlord satisfactory L/C Security in place of the entire Security Deposit, Landlord shall remit to Tenant any
cash Security Deposit Landlord previously held. 
 (c) Landlord may draw upon the L/C Security, and hold and apply the proceeds
in the same manner and for the same purposes as the Security Deposit, if: (i) an uncured Default (as defined below) exists; (ii) as of the date forty-five (45) days before any L/C Security expires (even if such scheduled expiry date
is after the Term Expiration Date) Tenant has not delivered to Landlord an amendment or replacement for such L/C Security, reasonably satisfactory to Landlord, extending the expiry date to the earlier of (1) ninety (90) days after the
then-current Term Expiration Date or (2) the date one year after the then-current expiry date of the L/C Security; (iii) the L/C Security provides for automatic renewals, Landlord asks the issuer to confirm the current L/C Security expiry
date, and the issuer fails to do so within ten (10) business days; (iv) Tenant fails to pay (when and as Landlord reasonably requires) any bank charges for Landlord’s transfer of the L/C Security; or (v) the issuer of the L/C
Security ceases, or announces that it will cease, to maintain an office in the city where Landlord may present drafts under the L/C Security (and fails to permit drawing upon the L/C Security by overnight courier or facsimile). This Section does not
limit any other provisions of this Lease allowing Landlord to draw the L/C Security under specified circumstances. 
 (d) Tenant
shall not seek to enjoin, prevent, or otherwise interfere with Landlord’s draw under L/C Security, even if it violates this Lease. Tenant acknowledges that the only effect of a wrongful draw would be to substitute a cash Security Deposit for
L/C Security, causing Tenant no legally recognizable damage. Landlord shall hold the proceeds of any draw in the same manner and for the same purposes as a cash Security Deposit. In the event of a wrongful draw, the parties shall cooperate to allow
Tenant to post replacement L/C Security simultaneously with the return to Tenant of the wrongfully drawn sums, and Landlord shall upon request confirm in writing to the issuer of the L/C Security that Landlord’s draw was erroneous. 

(e) If Landlord transfers its interest in the Premises, then Tenant shall at Tenant’s expense, within five (5) business days
after receiving a request from Landlord, deliver (and, if the issuer requires, Landlord shall consent to) an amendment to the L/C Security naming Landlord’s grantee as substitute beneficiary. If the required Security Deposit changes while L/C
Security is in force, then Tenant shall deliver (and, if the issuer requires, Landlord shall consent to) a corresponding amendment to the L/C Security. 

  
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 12. Use. 
 12.1. Tenant shall use the Premises for the purpose set forth in Section 2.7, and shall not use the Premises, or permit or suffer the Premises to be used, for any other purpose without
Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. 
 12.2. Tenant
shall not use or occupy the Premises in violation of Applicable Laws; zoning ordinances; or the certificate of occupancy issued for the Building or the Project, and shall, upon five (5) days’ written notice from Landlord, discontinue any
use of the Premises that is declared or claimed by any Governmental Authority having jurisdiction to be a violation of any of the above, or that in the reasonable written opinion of Landlord’s legal counsel violates any of the above. Tenant
shall comply with any direction of any Governmental Authority having jurisdiction that shall, by reason of the nature of Tenant’s use or occupancy of the Premises, impose any duty upon Tenant or Landlord with respect to the Premises or with
respect to the use or occupation thereof. 
 12.3. Tenant shall not do or permit to be done anything that will invalidate or
increase the cost of any fire, environmental, extended coverage or any other insurance policy covering the Building or the Project, and shall comply with all rules, orders, regulations and requirements of the insurers of the Building and the Project
disclosed in writing to Tenant, and Tenant shall promptly, upon demand, reimburse Landlord for any additional premium charged for such policy by reason of Tenant’s failure to comply with the provisions of this Article. 

12.4. Tenant shall keep all doors opening onto public corridors closed, except when in use for ingress and egress. 

12.5. Tenant may install additional locks, bolts or security measures reasonably necessary to properly conduct its business and
operations in the Premises, including securing the interior and exterior doors and windows of the Premises; provided, however, that any such locks, bolts or security measures shall be subject to Landlord’s prior written consent (which
consent shall not be unreasonably withheld, conditioned or delayed). Tenant shall provide Landlord with all keys, key cards and access codes necessary to access all portions of the Premises. Tenant shall, upon termination of this Lease, return to
Landlord all keys and key cards to offices and restrooms either furnished to or otherwise procured by Tenant. In the event any key or key card so furnished to Tenant is lost, Tenant shall pay to Landlord the cost of replacing the same or of changing
the lock or locks opened by such lost key or key card if Landlord shall deem it necessary to make such change. 
 12.6. No
awnings or other projections shall be attached to any outside wall of the Building without Landlord’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed). No curtains, blinds, shades or screens shall
be attached to or hung in, or used in connection with, any window or door of the Premises other than Landlord’s standard window coverings as set forth in the Tenant Manual (as defined in Section 13.1). Neither the interior nor
exterior of any windows shall be coated or otherwise sunscreened 

  
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without Landlord’s prior written consent (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall any bottles, parcels or other articles be placed on the
windowsills. Any such window treatment shall also be subject to the requirements set forth in the Tenant Manual. For the avoidance of doubt, it shall be unreasonable for Landlord to withhold its consent to any requested awnings, blinds, shades,
screens or other window tinting or treatments if Tenant demonstrates to Landlord that such are necessary for Tenant to comply with Applicable Laws [**] required to conduct Tenant’s business and operations on the Premises consistent with the
Permitted Use; provided, that any such awnings, blinds, shades, screens or other window tinting or treatments are performed in accordance with the Tenant Manual. No equipment, furniture or other items of personal property shall be placed on any
exterior balcony without Landlord’s prior written consent. 
 12.7. No sign, advertisement or notice
(“Signage”) shall be exhibited, painted or affixed by Tenant on any part of the Premises visible from outside the Premises or the Building without Landlord’s prior written consent, which shall not be unreasonably withheld,
conditioned or delayed. For any Signage, Tenant shall, at Tenant’s own cost and expense, (a) acquire all permits for such Signage in compliance with Applicable Laws and (b) design, fabricate, install and maintain such Signage in a
first-class condition. Tenant shall be responsible for reimbursing Landlord for costs incurred by Landlord in removing any of Tenant’s Signage upon the expiration or earlier termination of the Lease. Signs on the directory tablet shall be
inscribed, painted or affixed for Tenant by Landlord at Landlord’s sole cost and expense, and shall be of a size, color and type and be located in a place acceptable to Landlord. The directory tablet shall be provided exclusively for the
display of the name and location of tenants only. 
 12.8. Tenant shall only place equipment within the Premises with floor
loading consistent with the Building’s structural design without Landlord’s prior written approval, and such equipment shall be placed in a location designed to carry the weight of such equipment. 

12.9. Tenant shall cause any equipment or machinery to be installed in the Premises so as to reasonably prevent sounds or vibrations
therefrom from extending into the Common Areas or other offices in the Project. 
 12.10. Tenant shall not (a) do or permit
anything to be done in or about the Premises that shall in any way obstruct or interfere with the rights of other tenants or occupants of the Project, or injure or annoy them, (b) use or allow the Premises to be used for immoral, unlawful or
objectionable purposes, (c) cause, maintain or permit any nuisance or waste in, on or about the Project or (d) take any other action that would in Landlord’s reasonable determination in any manner adversely affect other tenants’
quiet use and enjoyment of their space or adversely impact their ability to conduct business in a professional and suitable work environment. 
 12.11. Notwithstanding any other provision herein to the contrary, Tenant shall be responsible for all liabilities, costs and expenses arising out of or in connection with the compliance of the Premises
with the Americans with Disabilities Act, 42 U.S.C. § 12101, et seq., and any state and local accessibility laws, codes, ordinances and rules (collectively, and together with regulations promulgated pursuant thereto, the
“ADA”), and Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold Landlord and its affiliates, employees, agents and contractors; and any lender, mortgagee or
beneficiary (each, a “Lender” and, collectively with Landlord and its affiliates, employees, 

  
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agents and contractors, the “Landlord Indemnitees”) harmless from and against any demands, claims, liabilities, losses, costs, expenses, actions, causes of action, damages or
judgments, and all reasonable expenses (including reasonable attorneys’ fees, charges and disbursements) incurred in investigating or resisting the same (collectively, “Claims”) arising out of any such failure of the Premises
to comply with the ADA. This Section (as well as any other provisions of this Lease dealing with indemnification of the Landlord Indemnitees by Tenant shall be deemed to be modified in each case by the insertion in the appropriate place of the
following: “except as otherwise provided in Mass. G.L. Ter. Ed., C. 186, Section 15.” The indemnification provisions of this Section shall survive the expiration or earlier termination of this Lease. 

12.12. Tenant shall establish and maintain a chemical safety program administered by a licensed, qualified individual in accordance with
the requirements of the Massachusetts Water Resources Authority (“MWRA”) and any other applicable Governmental Authority. Tenant shall be solely responsible for all costs incurred in connection with such chemical safety program, and
Tenant shall provide Landlord with such documentation as Landlord may reasonably require evidencing Tenant’s compliance with the requirements of (a) the MWRA and any other applicable Governmental Authority with respect to such chemical
safety program and (b) this Section. Tenant shall obtain and maintain during the Term (m) any permit required by the MWRA (“MWRA Permit”) and (n) a wastewater treatment operator license from the Commonwealth of
Massachusetts with respect to Tenant’s use of the Acid Neutralization Tank (as defined in Section 16.7) in the Building. Tenant shall not introduce anything into the Acid Neutralization Tank (x) in violation of the terms of the
MWRA Permit, (y) in violation of Applicable Laws or (z) that would interfere with the proper functioning of the Acid Neutralization Tank. Landlord, at Tenant’s sole cost and expense, agrees to reasonably cooperate with Tenant in order
to obtain the MWRA Permit and the wastewater treatment operator license. Tenant shall be solely responsible for any costs incurred pursuant to this Section. 
  

	13.	Rules and Regulations, CC&Rs, Parking Facilities and Common Areas. 

 13.1. Tenant shall have the non-exclusive right, in common with others, to use the Common Areas, subject to the rules and regulations adopted by Landlord and attached hereto as Exhibit F, together
with such other reasonable and nondiscriminatory rules and regulations as are hereafter promulgated by Landlord in its sole and absolute discretion (the “Rules and Regulations”) and the tenant manual adopted by Landlord and attached
hereto as Exhibit D (as such tenant manual may be modified from time to time by Landlord in its sole discretion, the “Tenant Manual”). Tenant shall faithfully observe and comply with the Rules and Regulations and the Tenant
Manual. Landlord shall not be responsible to Tenant for the violation or non-performance by any other tenant or any agent, employee or invitee thereof of any of the Rules and Regulations or the Tenant Manual. In the event of a conflict between the
Rules and Regulations, the Tenant Manual and this Lease, the terms of this Lease shall control, otherwise the most stringent provision shall control. 
 13.2. This Lease is subject to any recorded covenants, conditions or restrictions on the Project or Property (the “CC&Rs”), as the same may be amended, amended and restated,
supplemented or otherwise modified from time to time; provided that any such amendments, restatements, supplements or modifications do not materially modify Tenant’s rights or obligations hereunder. Tenant shall comply with the
CC&Rs. 

  
 15 

 13.3. Except for any spaces specifically reserved to other tenants of the Project, Tenant
shall have a non-exclusive, irrevocable license to use Tenant’s Pro Rata Share of parking facilities serving the Project (which, as of the Execution Date, is two and two tenths (2.2) spaces for each one thousand (1,000) square feet of
Rentable Area of the Premises) in common on an unreserved basis with other tenants of the Project during the Term. As part of such Pro Rata Share of parking facilities (and not in addition), Landlord shall designate ten (10) parking spaces
outside the Premises as “RESERVED,” as depicted on Exhibit K. Landlord shall have no obligation to monitor or enforce such reserved parking spaces. 
 13.4. Tenant agrees not to unreasonably overburden the parking facilities and agrees to cooperate with Landlord and other tenants in the use of the parking facilities. Landlord reserves the right to
determine that parking facilities are becoming overcrowded and to limit Tenant’s use thereof. Upon such determination, Landlord may reasonably allocate parking spaces among Tenant and other tenants of the Building or the Project. Nothing in
this Section, however, is intended to create an affirmative duty on Landlord’s part to monitor parking. 
 13.5. Landlord
reserves the right to modify the Common Areas, including the right to add or remove exterior and interior landscaping and to subdivide real property. 
 13.6. Landlord shall subscribe to a shuttle service that will operate as described on Exhibit G attached hereto. 
  

	14.	Project Control by Landlord. 

 14.1. Landlord reserves full control over the Building and the Project to the extent not inconsistent with Tenant’s enjoyment of the Premises as provided by this Lease. This reservation includes
Landlord’s right to subdivide the Project; convert the Building and other buildings within the Project to condominium units; change the size of the Project by selling all or a portion of the Project or adding real property and any improvements
thereon to the Project; grant easements and licenses to third parties; maintain or establish ownership of the Building separate from fee title to the Property; make additions to or reconstruct portions of the Building and the Project; install, use,
maintain, repair, replace and relocate for service to the Premises and other parts of the Building or the Project pipes, ducts, conduits, wires and appurtenant fixtures, wherever located in the Premises, the Building or elsewhere at the Project; and
alter or relocate any other Common Area or facility, including private drives, lobbies and entrances; provided, however, that Landlord’s exercise of its rights under this Section shall not materially adversely affect the Permitted Use of
the Premises. 
 14.2. Possession of areas of the Premises necessary for utilities, services, safety and operation of the
Building is reserved to Landlord; provided, however, that Landlord’s exercise of its rights under this Section shall not materially adversely affect the Permitted Use of the Premises. 

14.3. Tenant shall, at Landlord’s request, promptly execute such further documents as may be reasonably appropriate to assist
Landlord in the performance of its obligations hereunder; provided that Tenant need not execute any document that creates additional liability for Tenant or that deprives Tenant of the quiet enjoyment and use of the Premises as provided for
in this Lease. 

  
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 14.4. Landlord may, at any and all reasonable times during non-business hours (or during
business hours if Tenant so requests, and with respect to Section 14.4(c), if Landlord so requests), and upon twenty-four (24) hours’ prior notice (provided that no time restrictions shall apply or advance notice be
required if an emergency necessitates immediate entry), enter the Premises to (a) inspect the same and to determine whether Tenant is in compliance with its obligations hereunder, (b) supply any service Landlord is required to provide
hereunder, (c) show the Premises to prospective purchasers or tenants during the final year of the Term, (d) post notices of nonresponsibility, (e) access the telephone equipment, electrical substation and fire risers and
(f) alter, improve or repair any portion of the Building other than the Premises for which access to the Premises is reasonably necessary; provided, however, that Landlord, with respect to any portions of the Premises that are reasonably
designated by Tenant to Landlord as controlled or having restricted access, shall comply with Tenant’s reasonable safety procedures and precautions related to such portions of the Premises including only entering such designated areas when
accompanied by a Tenant representative (provided further, that Tenant shall provide a Tenant representative to accompany Landlord upon request from Landlord twenty-four (24) hours’ in advance). Notwithstanding the foregoing, no such
access restrictions shall apply in the event of an emergency. In connection with any such alteration, improvement or repair as described in Subsection 14.4(f), Landlord may erect in the Premises or elsewhere in the Project scaffolding and
other structures reasonably required for the alteration, improvement or repair work to be performed. In no event shall Tenant’s Rent abate as a result of Landlord’s activities pursuant to this Section; provided, however, that all
such activities shall be conducted in such a manner so as to cause as little interference to Tenant as is reasonably possible. Landlord shall at all times retain keys, key cards and access codes with which to unlock all of the doors in the Premises.
If an emergency necessitates immediate access to the Premises, Landlord may use whatever force is necessary to enter the Premises, and any such entry to the Premises shall not constitute a forcible or unlawful entry to the Premises, a detainer of
the Premises, or an eviction of Tenant from the Premises or any portion thereof. 
 15. Quiet Enjoyment. So long as Tenant is not in
default under this Lease, Landlord or anyone acting through or under Landlord shall not disturb Tenant’s occupancy of the Premises, except as permitted by this Lease. 
 16. Utilities and Services. 
 16.1. Tenant shall, at its sole cost and
expense, promptly and properly observe and comply with (including in the making by Tenant of any Alterations to the Premises) all present and future orders, regulations, directions, rules, laws, ordinances, and requirements of all Governmental
Authorities arising from the use or occupancy of, or applicable to, the Premises or any portion thereof. 

16.2. Tenant shall, at Tenant’s sole cost and expense, procure and maintain contracts, with copies furnished
promptly to Landlord after execution thereof, in customary form and substance for, and with contractors specializing and experienced in, the maintenance of the following equipment and improvements, if any, if and when installed on the Premises
(a) HVAC equipment, (b) boilers and pressure vessels, (c) fire extinguishing systems, including fire alarm and smoke detection devices, (d) roof coverings and drains, (e) clarifiers, (f) basic utility feeds to the
perimeter of the Building and (g) any other equipment reasonably required by Landlord. In addition, no later than February 28th of each calendar year during the Term, Tenant, at Tenant’s

  
 17 

 
sole cost and expense, shall furnish such service contracts and the maintenance records for such equipment and improvements for the previous calendar year to Landlord for Landlord’s review.
Notwithstanding anything to the contrary in this Section, Landlord reserves the right, upon notice to Tenant, to procure and maintain any or all of such service contracts, and if Landlord so elects, Tenant shall reimburse Landlord, upon demand, for
the costs thereof. 
 16.3. Tenant shall make all arrangements for and pay for all water, electricity, air, sewer, refuse, gas,
heat, light, power (including emergency power), telephone service and any other service or utility Tenant required at the Premises. Landlord shall not be liable for, nor shall any eviction of Tenant result from, the failure to furnish any utility or
service, whether or not such failure is caused by accident; breakage; repair; strike, lockout or other labor disturbance or labor dispute of any character; act of terrorism; shortage of materials, which shortage is not unique to Landlord or Tenant,
as the case may be; governmental regulation, moratorium or other governmental action, inaction or delay; or other causes beyond Landlord’s control (collectively, “Force Majeure”) or Landlord’s negligence. In the event of
such failure, Tenant shall not be entitled to termination of this Lease or any abatement or reduction of Rent, nor shall Tenant be relieved from the operation of any covenant or agreement of this Lease. Notwithstanding anything to the contrary in
this Lease, if as a direct result of Landlord’s gross negligence or willful misconduct, for more than seven (7) consecutive business days following written notice to Landlord: (a) HVAC or electricity services to all or a material
portion of the Premises is interrupted or is unable to support Tenant’s normal occupancy requirements for the Permitted Use, or (b) an interruption of other essential utilities and building services, such as fire protection or water,
prevents the use or occupancy of all or a material portion of the Premises for the Permitted Use, then Tenant’s Base Rent and Operating Expenses (or an equitable portion of such Base Rent and Additional Rent based on the impact of such
interruption on Tenant’s business operations, to the extent that less than all of the Premises are affected) shall thereafter be abated until the Premises are again usable by Tenant for the Permitted Use; provided, however, that if Landlord is
diligently pursuing the repair of such utilities or services and Landlord provides substitute services reasonably suitable for Tenant’s continued use and occupancy of the Premises for Permitted Use purposes, as for example, bringing in portable
air-conditioning equipment or potable water supplies, then there shall not be an abatement of Base Rent. In any such event, regardless of cause, Landlord shall diligently pursue the repair of such utilities and services. The foregoing provisions
shall be Tenant’s sole recourse and remedy in the event of an interruption of services to the Premises caused by Landlord’s gross negligence or willful misconduct. The foregoing provisions shall not apply in case of the actions of parties
other than Landlord, in the case of simple negligence of Landlord, or in the case of damage to, or destruction of, the Premises (which shall be governed by the provisions of Article 24 of the Lease). 

16.4. Tenant shall pay for, prior to delinquency of payment therefor, any utilities and services that may be furnished to the Premises
during the period of time commencing on the Execution Date and continuing until the expiration or earlier termination of the Term or, if Tenant occupies the Premises after the expiration or earlier termination of the Term, after the Term.

 16.5. Tenant shall not, without Landlord’s prior written consent, use any device in the Premises (including data
processing machines) that will in any way increase the amount of ventilation, air exchange, gas, steam, electricity or water beyond the existing capacity of the Building as usually furnished or supplied for the use set forth in
Section 2.7. 

  
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 16.6. For any utilities serving the Premises for which Tenant is billed
directly by such utility provider, Tenant agrees to furnish to Landlord no later than each February 28th during the Term (a) any invoices or statements for such utilities and (b) any other utility usage information reasonably requested by Landlord, each with respect to the prior calendar year.
Tenant acknowledges that any utility information for the Premises, the Building and the Project may be shared with third parties, including Landlord’s consultants and Governmental Authorities. 

16.7. The Building is currently serviced by a laboratory waste sanitary sewer connection on the first (1st) floor of the Building to the municipal sewer line in the
street adjacent to the Building. As part of the Tenant Improvements, Tenant shall install a separate acid neutralization tank (the “Acid Neutralization Tank”) that is connected to the Premises. Tenant shall have the right to use the
Acid Neutralization Tank in accordance with Applicable Laws. Tenant, shall be responsible for all costs, charges and expenses incurred from time to time in connection with or arising out of the operation, use, maintenance, repair, replacement or
refurbishment of the Acid Neutralization Tank, including all clean-up costs relating to the Acid Neutralization Tank (collectively, “Tank Costs”). The operation, use, maintenance, repair, replacement or refurbishment of the Acid
Neutralization Tank shall be the sole responsibility of Tenant. Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the Landlord Indemnitees harmless from and against any and
all Claims, including (a) diminution in value of the Project or any portion thereof, (b) damages for the loss or restriction on use of rentable or usable space or of any amenity of the Project, (c) damages arising from any adverse
impact on marketing of space in the Project or any portion thereof and (d) sums paid in settlement of Claims that arise during or after the Term as a result of Tenant’s improper use of the Acid Neutralization Tank. This indemnification by
Tenant includes costs incurred in connection with any investigation of site conditions or any clean-up, remediation, removal or restoration required by any Governmental Authority caused by Tenant’s improper use of the Acid Neutralization Tank.

 17. Alterations. 
 17.1. Tenant shall make no alterations, additions or improvements in or to the Premises or engage in any construction, demolition, reconstruction, renovation, or other work (whether major or minor) of any
kind in, at, or serving the Premises (“Alterations”) without Landlord’s prior written approval, which approval Landlord shall not unreasonably withhold, condition or delay; provided, however, that in the event any
proposed Alteration affects (a) any structural portions of the Building, including exterior walls, roof, foundation, foundation systems (including barriers and subslab systems), or core of the Building, (b) the exterior of the Building or
(c) any Building systems, including elevator, plumbing, air conditioning, heating, electrical, security, life safety and power, then Landlord may withhold its approval with respect thereto in its sole and absolute discretion. Tenant shall, in
making any such Alterations, use only those architects, contractors, suppliers and mechanics of which Landlord has given prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed. In seeking Landlord’s
approval, Tenant shall provide Landlord, at least fourteen (14) days in advance of any proposed construction, with plans, specifications, bid proposals, certified stamped engineering drawings and calculations by Tenant’s engineer of record
or architect or record, (including connections to the Building’s structural system, modifications to the Building’s envelope, non-structural penetrations in slabs or walls, and modifications or tie-ins to life safety systems), work
contracts, requests for laydown areas and such other information concerning the nature and cost 

  
 19 

 
of the Alterations as Landlord may reasonably request; provided, that all such documentation shall be of a quality and to a level of detail comparable to the approved Construction Plans
(as defined in the Work Letter). In the event the proposed Alterations exceed One Hundred Twenty-Five Thousand Dollars ($125,000), the schedule, approval, design and construction of such Alterations shall further be subject to the terms and
conditions of the Work Letter. In no event shall Tenant use or Landlord be required to approve any architects, consultants, contractors, subcontractors or material suppliers that Landlord reasonably believes could cause labor disharmony.
Notwithstanding the foregoing, Tenant may make strictly cosmetic changes to the Premises (“Cosmetic Alterations”) without Landlord’s consent; provided that (y) the cost of any Cosmetic Alterations does not exceed Ten
Thousand Dollars ($10,000) in any one instance or Fifty Thousand Dollars ($50,000) annually, (z) such Cosmetic Alterations do not (i) require any structural or other substantial modifications to the Premises, (ii) require any changes
to, or adversely affect, the Building systems, (iii) affect the exterior of the Building or (iv) trigger any requirement under Applicable Laws that would require Landlord to make any alteration or improvement to the Premises, the Building
or the Project. Tenant shall give Landlord at least ten (10) days’ prior written notice of any Cosmetic Alterations. 

17.2. Tenant shall not construct or permit to be constructed partitions or other obstructions that might interfere with free access to
mechanical installation or service facilities of the Building, or interfere with the moving of Landlord’s equipment to or from the enclosures containing such installations or facilities. 

17.3. Tenant shall accomplish any work performed on the Premises or the Building in such a manner as to permit any life safety systems to
remain fully operable at all times. 
 17.4. Any work performed on the Premises, the Building or the Project by Tenant or
Tenant’s contractors shall be done at such times and in such manner as Landlord may from time to time designate. Tenant covenants and agrees that all work done by Tenant or Tenant’s contractors shall be performed in full compliance with
Applicable Laws. Within thirty (30) days after completion of any Alterations (other than Cosmetic Alterations), Tenant shall provide Landlord with complete “as-built” drawing print sets, project specifications and electronic CADD
files on disc (or files in such other current format in common use as Landlord reasonably approves or requires) showing any changes in the Premises (which changes shall be overlaid on the previously existing improvements in the Premises). Further,
within thirty (30) days after completion of any Alterations described in Sections 17.1(a), 17.1(b) or 17.1(c), Tenant shall provide Landlord with any applicable inspection reports, certifications and approvals that may be
required from any Governmental Authority and any board of fire underwriters or similar body for the use and occupancy of the Premises. 
 17.5. Before commencing any Alterations or Tenant Improvements, Tenant shall give Landlord at least fourteen (14) days’ prior written notice of the proposed commencement of such work and shall,
if required by Landlord, secure, at Tenant’s own cost and expense, a completion and lien indemnity bond satisfactory to Landlord for said work. 
 17.6. All Tenant Improvements, Alterations, Signage, attached equipment, decorations, fixtures, movable laboratory casework and related appliances, trade fixtures, additions and improvements, subject to
Section 17.8, attached to or built into the Premises, made by either of the Parties, including all floor and wall coverings, built-in cabinet work and paneling, sinks and 

  
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related plumbing fixtures, laboratory benches, exterior venting fume hoods and walk-in freezers and refrigerators, ductwork, conduits, electrical panels and circuits, shall (a) become the
property of Landlord upon the expiration or earlier termination of the Term and (b) remain upon and be surrendered with the Premises as a part thereof (unless, with respect to (a) and (b), Landlord elects otherwise by providing written
notice to Tenant no later than the date that is twelve (12) months prior to the Term Expiration Date). The Premises shall at all times remain the property of Landlord and shall be surrendered to Landlord upon the expiration or earlier
termination of this Lease. 
 17.7. Tenant shall repair any damage to the Premises caused by Tenant’s removal of any
property from the Premises (including Tenant’s removal of items elected by Landlord in accordance with Section 17.6). During any such restoration period, Tenant shall pay Rent to Landlord as provided herein as if said space were
otherwise occupied by Tenant. The provisions of this Section shall survive the expiration or earlier termination of this Lease. 

17.8. Except as to those items listed on Exhibit H attached hereto (which Exhibit H may be updated by Tenant from and after
the Term Commencement Date, but in each case only upon receipt of Landlord’s prior written approval of such updates in accordance with the procedures set forth hereafter), all business and trade fixtures, machinery and equipment, built-in
furniture and cabinets, together with all additions and accessories thereto, installed in and upon the Premises shall be and remain the property of Landlord and shall not be moved by Tenant at any time during the Term. Following the Term
Commencement Date, and prior to the commencement of any work relating to any Alterations occurring thereafter, Tenant shall have the ability to update Exhibit H by submitting such updated Exhibit H to Landlord at least twenty
(20) days prior to the installation at the Premises of any items requested to be included on Exhibit H by Tenant. Within twenty (20) days of Landlord’s receipt of Tenant’s updated Exhibit H, Landlord shall notify
Tenant whether or not Landlord approved the updated Exhibit H. If Landlord fails to respond within such twenty (20) day period, Tenant shall provide a written reminder notice to Landlord. Landlord’s failure to respond to such
reminder notice within ten (10) days after delivery of such reminder notice shall be deemed approval by Landlord of the updated Exhibit H as submitted to Landlord. If Tenant shall fail to remove any of its effects from the Premises prior
to termination of this Lease, then Landlord may, at its option, remove the same in any manner that Landlord shall choose and store said effects without liability to Tenant for loss thereof or damage thereto, and Tenant shall pay Landlord, upon
demand, any costs and expenses incurred due to such removal and storage or Landlord may, at its sole option and without notice to Tenant, sell such property or any portion thereof at private sale and without legal process for such price as Landlord
may obtain and apply the proceeds of such sale against any (a) amounts due by Tenant to Landlord under this Lease and (b) any expenses incident to the removal, storage and sale of said personal property. 

17.9. Notwithstanding any other provision of this Article to the contrary, in no event shall Tenant remove any improvement from the
Premises as to which Landlord contributed payment, including the Tenant Improvements, without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. 

17.10. In the event Tenant performs Alterations (other than Tenant Improvements) that exceed One Hundred Twenty-Five Thousand Dollars
($125,000) in any one instance, Tenant shall pay to Landlord an amount equal to five percent (5%) of the cost to Tenant of all changes 

  
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installed by Tenant or its contractors or agents to cover Landlord’s overhead and expenses for plan review, coordination, scheduling and supervision thereof. For purposes of payment of such
sum, Tenant shall submit to Landlord copies of all bills, invoices and statements covering the costs of such charges, accompanied by payment to Landlord of the fee set forth in this Section. Tenant shall reimburse Landlord for any extra expenses
incurred by Landlord by reason of faulty work done by Tenant or its contractors, or by reason of delays caused by such work (other than delays caused by Landlord), or by reason of inadequate clean-up. Tenant shall not owe any review fees under this
Section for Alterations that are equal to or less than One Hundred Twenty-Five Thousand Dollars ($125,000) in any one instance. 

17.11. Within sixty (60) days after final completion of the Tenant Improvements (or any other Alterations performed by Tenant with
respect to the Premises), Tenant shall submit to Landlord documentation showing the amounts expended by Tenant with respect to such Tenant Improvements (or any other Alterations performed by Tenant with respect to the Premises), together with
supporting documentation reasonably acceptable to Landlord. 
 17.12. Tenant shall take, and shall cause its contractors to
take, commercially reasonable steps to protect the Premises during the performance of any Alterations, including covering or temporarily removing any window coverings so as to guard against dust, debris or damage. 

17.13. Tenant shall require its contractors and subcontractors performing work on the Premises to name Landlord and its affiliates (as
set forth in Section 23.4) and Lenders as additional insureds on their respective insurance policies. 
 18. Repairs and
Maintenance. 
 18.1. Landlord shall repair and maintain the Common Areas of the Project, including those certain portions
of the utility systems located outside the Premises to which the Premises may be connected, sidewalks, parking areas, curbs, roads, driveways, lighting standards, landscaping and snow removal. Costs incurred by Landlord pursuant to this Section
shall constitute Operating Expenses which shall be allocated in accordance with Exhibit J, unless such costs are incurred due in whole or in part to any act, neglect, fault or omissions of Tenant or its employees, agents, contractors or
invitees, in which case Tenant shall pay to Landlord the cost of such repairs and maintenance. 
 18.2.
Except for services of Landlord, if any, required by Section 18.1, Tenant, at its sole cost and expense, shall maintain and keep the Premises, all improvements thereon, and all appurtenances thereto, including lighting standards, sewers,
water, gas and electrical distribution systems and facilities, drainage facilities, Acid Neutralization Tank, fire sprinkler systems (if any) and all signs, both illuminated and non-illuminated that are now or hereafter on the Premises, in good
condition and in a manner consistent with the Permitted Use. Tenant shall make all repairs, replacements and improvements, including all structural, roof, HVAC, plumbing and electrical repairs, replacements and improvements required, and shall keep
the same free and clear from all rubbish, debris, insects, rodents and other vermin and pests. Tenant shall, no later than December 1st of each calendar year during the Term, provide to Landlord a copy of the budget for maintenance, repairs and
replacements at the Premises for the following calendar year. Tenant shall, no later than February 28th of each calendar year during the Term, provide to Landlord a detailed summary of the amounts actually expended by Tenant during the 

  
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previous calendar year for maintenance, repairs and replacements at the Premises. All repairs made by Tenant shall be at least equal in quality to the original work, and shall be made only by a
licensed, bonded contractor approved in advance by Landlord; provided, however, that such contractor need not be bonded or approved by Landlord if the non-structural alterations, repairs, additions or improvements to be performed do not
exceed Twenty-Five Thousand Dollars ($25,000) in value. Landlord may impose reasonable restrictions and requirements with respect to such repairs. Tenant shall not take or omit to take any action, the taking or omission of which shall cause waste,
damage or injury to the Premises. Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold harmless Landlord from and against any and all Claims (as defined below) arising out of
the failure of Tenant or Tenant’s Agents to perform the covenants contained in this paragraph. “Tenant’s Agents” shall be defined to include Tenant’s officers, employees, agents, contractors, invitees, customers and
subcontractors. 
 18.3. Tenant shall paint any exterior portions of the Building as necessary to maintain them in good
condition (provided, however, that any such exterior painting is for maintenance purposes only and Tenant shall only use the then-current Building exterior paint color(s) unless Tenant has received prior written consent from Landlord to use a
different paint color); maintain the roof in good condition; maintain sightly screens, barricades or enclosures around any waste or storage areas; and take all reasonable precautions to insure that the drainage facilities of the roof are not clogged
and are in good and operable condition at all times. 
 18.4. There shall be no abatement of Rent and no liability of Landlord
by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Premises, or in or to improvements, fixtures, equipment and personal property
therein. 
 18.5. Landlord shall not be required to maintain or make any repairs or replacements of any nature or description
whatsoever to the Premises, except to the extent damage to the Premises is caused Landlord’s gross negligence or willful misconduct (provided, that Landlord’s actions or damages caused in response to an emergency shall never be deemed to
be gross negligence or willful misconduct). Tenant hereby expressly waives the right to make repairs at the expense of Landlord as provided for in any Applicable Laws in effect at the time of execution of this Lease, or in any other Applicable Laws
that may hereafter be enacted, and waives its rights under Applicable Laws relating to a landlord’s duty to maintain its premises in a tenantable condition. Notwithstanding the foregoing, if Tenant shall fail, after reasonable notice, to
maintain or to commence and thereafter to proceed with diligence to make any repair required of it pursuant to the terms of this Lease, Landlord, without being under any obligation to do so and without thereby waiving such default by Tenant, may so
maintain or make such repair and may charge Tenant for the costs thereof. Any expense reasonably incurred by Landlord in connection with the making of such repairs may be billed by Landlord to Tenant monthly or, at Landlord’s option,
immediately, and shall be due and payable within ten (10) days after such billing or, at Landlord’s option, may be deducted from the Security Deposit. 
 18.6. Subject to Section 14.4, Landlord and Landlord’s agents shall have the right to enter upon the Premises or any portion thereof for the purposes of performing any repairs or
maintenance Landlord is permitted to make pursuant to this Lease, and of ascertaining the condition of the Premises or whether Tenant is observing and performing Tenant’s obligations 

  
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hereunder, all without unreasonable interference from Tenant or Tenant’s Agents. Except for emergency maintenance or repairs, the right of entry contained in this paragraph shall be
exercisable at reasonable times, at reasonable hours and on reasonable advance notice. 
 18.7. Tenant shall, upon the
expiration or sooner termination of the Term, surrender the Premises to Landlord in as good a condition as when received, ordinary wear and tear excepted; and shall, at Landlord’s request and Tenant’s expense, remove all telephone and data
systems, wiring and equipment from the Premises, and repair any damage to the Premises caused thereby. Landlord shall have no obligation to alter, remodel, improve, repair, decorate or paint the Premises or any part thereof, other than pursuant to
the terms and provisions of the Work Letter. 
 18.8. This Article relates to repairs and maintenance arising in the ordinary
course of operation of the Premises and any related facilities. In the event of a casualty described in Article 24, Article 24 shall apply in lieu of this Article. In the event of eminent domain, Article 25 shall apply in lieu
of this Article. 
 18.9. If any excavation shall be made upon land adjacent to or under the Building, or shall be authorized to
be made, upon reasonable advance notice to Tenant, and subject to the restrictions set forth in Section 14.4 (provided that no such restrictions shall apply in an emergency), Tenant shall afford to the person causing or authorized to
cause such excavation, license to enter the Premises for the purpose of performing such work as said person shall deem necessary or desirable to preserve and protect the Building from injury or damage and to support the same by proper foundations,
without any claim for damages or liability against Landlord and without reducing or otherwise affecting Tenant’s obligations under this Lease. 
 19. Liens. 
 19.1. Subject to the immediately succeeding sentence, Tenant
shall keep the Premises, the Building and the Project free from any liens arising out of work performed, materials furnished or obligations incurred by Tenant. Tenant further covenants and agrees that any mechanic’s lien filed against the
Premises, the Building or the Project for work claimed to have been done for, or materials claimed to have been furnished to, shall be discharged or bonded by Tenant within ten (10) days after the filing thereof, at Tenant’s sole cost and
expense. 
 19.2. Should Tenant fail to discharge or bond against any lien of the nature described in Section 19.1,
Landlord may, at Landlord’s election, pay such claim or post a bond or otherwise provide security to eliminate the lien as a claim against title, and Tenant shall immediately reimburse Landlord for the costs thereof as Additional Rent. Tenant
shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the Landlord Indemnitees harmless from and against any Claims arising from any such liens, including any administrative, court or
other legal proceedings related to such liens. 
 19.3. In the event that Tenant leases or finances the acquisition of office
equipment, furnishings or other personal property of a removable nature utilized by Tenant in the operation of Tenant’s business, Tenant warrants that any Uniform Commercial Code financing statement shall, upon its face or by exhibit thereto,
indicate that such financing statement is applicable only to removable personal property of Tenant located within the Premises. In no event shall the address of the Premises, the Building or the Project be furnished on a financing statement

  
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without qualifying language as to applicability of the lien only to removable personal property located in an identified suite leased by Tenant. Should any holder of a financing statement record
or place of record a financing statement that appears to constitute a lien against any interest of Landlord or against equipment that may be located other than within an identified suite leased by Tenant, Tenant shall, within ten (10) days
after filing such financing statement, cause (a) a copy of the Lender security agreement or other documents to which the financing statement pertains to be furnished to Landlord to facilitate Landlord’s ability to demonstrate that the lien
of such financing statement is not applicable to Landlord’s interest and (b) Tenant’s Lender to amend such financing statement and any other documents of record to clarify that any liens imposed thereby are not applicable to any
interest of Landlord in the Premises, the Building or the Project. Subject to the requirements of this Section, Landlord shall use commercially reasonable efforts to cooperate in the execution of reasonable documents relating to the leasing or
financing of Tenant’s personal property that may be reasonably requested by Tenant’s vendors or lenders; provided, however, that such documentation shall not adversely affect Landlord’s rights under this Lease. 

20. Estoppel Certificate. Tenant shall, within ten (10) days of receipt of written notice from Landlord, execute, acknowledge and deliver a
statement in writing substantially in the form attached to this Lease as Exhibit I, or on any other form reasonably requested by a proposed Lender or purchaser, (a) certifying that this Lease is unmodified and in full force and effect
(or, if modified, stating the nature of such modification and certifying that this Lease as so modified is in full force and effect) and the dates to which rental and other charges are paid in advance, if any, (b) acknowledging that there are
not, to Tenant’s knowledge, any uncured defaults on the part of Landlord hereunder, or specifying such defaults if any are claimed, and (c) setting forth such further information with respect to this Lease or the Premises as may be
requested thereon. Any such statement may be relied upon by any prospective purchaser or encumbrancer of all or any portion of the real property of which the Premises are a part. Tenant’s failure to deliver such statement within such the
prescribed time shall, at Landlord’s option, constitute a Default (as defined below) under this Lease, and, in any event, shall be binding upon Tenant that the Lease is in full force and effect and without modification except as may be
represented by Landlord in any certificate prepared by Landlord and delivered to Tenant for execution. 
 21. Hazardous Materials.

 21.1. Tenant shall not cause or permit any Hazardous Materials (as defined below) to be brought upon, kept or used in or
about the Premises, the Building or the Project in violation of Applicable Laws by Tenant or its employees, agents, contractors or invitees. If Tenant breaches such obligation, or if the presence of Hazardous Materials as a result of such a breach
results in contamination of the Project, any portion thereof, or any adjacent property, or if contamination of the Project, any portion thereof, or any adjacent property by Hazardous Materials otherwise occurs during the Term or any extension or
renewal hereof or holding over hereunder, then Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the Landlord Indemnitees harmless from and against any and all Claims,
including (a) diminution in value of the Project or any portion thereof, (b) damages for the loss or restriction on use of rentable or usable space or of any amenity of the Project, (c) damages arising from any adverse impact on
marketing of space in the Project or any portion thereof and (d) sums paid in settlement of Claims that arise during or after the Term as a result of such breach or contamination. This indemnification by Tenant includes costs incurred in

  
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connection with any investigation of site conditions or any clean-up, remedial, removal or restoration work required by any Governmental Authority because of Hazardous Materials present in the
air, soil or groundwater above, on or under or about the Project. Without limiting the foregoing, if the presence of any Hazardous Materials in, on, under or about the Project, any portion thereof or any adjacent property caused or permitted by
Tenant results in any contamination of the Project, any portion thereof or any adjacent property, then Tenant shall promptly take all actions at its sole cost and expense as are necessary to return the Project, any portion thereof or any adjacent
property to its respective condition existing prior to the time of such contamination; provided that Landlord’s written approval of such action shall first be obtained, which approval Landlord shall not unreasonably withhold; and
provided, further, that it shall be reasonable for Landlord to withhold its consent if such actions could have a material adverse long-term or short-term effect on the Project, any portion thereof or any adjacent property. 

21.2. Landlord acknowledges that it is not the intent of this Article to prohibit Tenant from operating its business for the Permitted
Use. Tenant may operate its business according to the custom of Tenant’s industry so long as the use or presence of Hazardous Materials is strictly and properly monitored in accordance with Applicable Laws. As a material inducement to Landlord
to allow Tenant to use Hazardous Materials in connection with its business, Tenant agrees to deliver to Landlord prior to the Term Commencement Date a list identifying each type of Hazardous Material to be present at the Project and setting forth
any and all governmental approvals or permits required in connection with the presence of such Hazardous Material at the Project (the “Hazardous Materials List”). Tenant shall deliver to Landlord an updated Hazardous Materials List
on or prior to each annual anniversary of the Term Commencement Date and shall also deliver an updated Hazardous Materials List before any new Hazardous Materials are brought to the Project. Tenant shall deliver to Landlord true and correct copies
of the following documents (hereinafter referred to as the “Documents”) relating to the handling, storage, disposal and emission of Hazardous Materials prior to the Term Commencement Date or, if unavailable at that time,
concurrently with the receipt from or submission to any Governmental Authority: permits; approvals; reports and correspondence; storage and management plans; notices of violations of Applicable Laws; plans relating to the installation of any storage
tanks to be installed in, on, under or about the Project (provided that installation of storage tanks shall only be permitted after Landlord has given Tenant its written consent to do so, which consent Landlord may withhold in its sole and
absolute discretion); and all closure plans or any other documents required by any and all Governmental Authorities for any storage tanks installed in, on, under or about the Project for the closure of any such storage tanks. Tenant shall not be
required, however, to provide Landlord with any portion of the Documents containing information of a proprietary nature, which Documents, in and of themselves, do not contain a reference to any Hazardous Materials or activities related to Hazardous
Materials. If Tenant provides Landlord with Documents containing information of a proprietary nature and notifies Landlord in writing upon disclosure that such information is proprietary, Landlord shall keep the same confidential and shall not
disclose such information to any third-party, except that Landlord may disclose such information (a) as may be required by Applicable Laws or in any judicial proceeding (provided that prior to disclosure Landlord gives Tenant reasonable notice
of such requirement, if feasible) and (b) to Landlord’s attorneys, accountants and other bona fide consultants or advisers who are advised of the confidential nature of such information. Landlord agrees that a breach of such
confidentiality may cause Tenant harm for which recovery of 

  
 26 

 
damages would be an inadequate remedy, and in such event, Tenant shall be entitled to obtain injunctive relief, as well as such further relief as may be granted by a court of competent
jurisdiction, but excluding special, punitive, exemplary or consequential damages. 
 21.3. Notwithstanding the provisions of
Sections 21.1 21.2 or 21.9, if (a) Tenant or any proposed transferee, assignee or sublessee of Tenant has been required by any prior landlord, Lender or Governmental Authority to take material remedial action in connection
with Hazardous Materials contaminating a property if the contamination resulted from such party’s action or omission or use of the property in question or (b) any proposed transferee, assignee or sublessee is subject to a material
enforcement order issued by any Governmental Authority in connection with the use, disposal or storage of Hazardous Materials, it shall not be unreasonable for Landlord to withhold its consent to any proposed transfer, assignment or subletting (with
respect to any such matter involving a proposed transferee, assignee or sublessee). 
 21.4. At any time, and from time to time,
prior to the expiration of the Term, Landlord shall have the right to conduct appropriate tests of the Project or any portion thereof to demonstrate that Hazardous Materials are present or that contamination has occurred due to Tenant or
Tenant’s employees, agents, contractors or invitees. Tenant shall pay all reasonable costs of such tests if such tests reveal that Hazardous Materials exist at the Project in violation of this Lease. 

21.5. If underground or other storage tanks storing Hazardous Materials installed or utilized by Tenant are located on the Premises, or
are hereafter placed on the Premises by Tenant or by any other party if such storage tanks are utilized by Tenant, then Tenant shall monitor the storage tanks, maintain appropriate records, implement reporting procedures, properly close any
underground storage tanks, and take or cause to be taken all other steps necessary or required under the Applicable Laws. Tenant shall have no responsibility or liability for underground or other storage tanks installed by anyone other than Tenant
unless Tenant utilizes such underground or other storage tanks, in which case Tenant’s responsibilities for such tanks are as set forth in this Section. 
 21.6. Tenant shall promptly report to Landlord any actual or suspected presence of mold or water intrusion at the Premises. 
 21.7. Tenant’s obligations under this Article shall survive the expiration or earlier termination of the Lease. During any period of time needed by Tenant or Landlord after the termination of this
Lease to complete the removal from the Premises of any such Hazardous Materials, Tenant shall be deemed a holdover tenant and subject to the provisions of Article 27 below. 

21.8. As used herein, the term “Hazardous Material” means any hazardous or toxic substance, material or waste that is or
becomes regulated by any Governmental Authority. 
 21.9. Notwithstanding anything to the contrary in this Lease, Landlord shall
have sole control over the equitable allocation of fire control areas (as defined in the Uniform Building Code as adopted by the city or municipality(ies) in which the Project is located (the “UBC”)) within the Project for the
storage of Hazardous Materials. Notwithstanding anything to the contrary in this Lease, the quantity of Hazardous Materials allowed by this Section 21.9 is 

  
 27 

 
specific to Tenant and shall not run with the Lease in the event of a Transfer (as defined in Article 29). In the event of a Transfer, if the use of Hazardous Materials by such new tenant
(“New Tenant”) is such that New Tenant utilizes fire control areas in the Project in excess of New Tenant’s Pro Rata Share of the Building or the Project, as applicable, then New Tenant shall, at its sole cost and expense and
upon Landlord’s written request, establish and maintain a separate area of the Premises classified by the UBC as an “H” occupancy area for the use and storage of Hazardous Materials, or take such other action as is necessary to ensure
that its share of the fire control areas of the Building and the Project is not greater than New Tenant’s Pro Rata Share of the Building or the Project, as applicable. 
 22. Odors and Exhaust. Tenant acknowledges that Landlord would not enter into this Lease with Tenant unless Tenant assured Landlord that under no circumstances will any other occupants of the
Building or the Project (including persons legally present in any outdoor areas of the Project) be subjected to odors or fumes (whether or not noxious), and that the Building and the Project will not be damaged by any exhaust, in each case from
Tenant’s operations. Landlord and Tenant therefore agree as follows: 
 22.1. Tenant shall not cause or permit (or conduct
any activities that would cause) any release of any odors or fumes of any kind from the Premises. 
 22.2. If the Building has a
ventilation system that, in Landlord’s judgment, is adequate, suitable, and appropriate to vent the Premises in a manner that does not release odors affecting any indoor or outdoor part of the Project, Tenant shall vent the Premises through
such system. If Landlord at any time determines that any existing ventilation system is inadequate, or if no ventilation system exists, Tenant shall in compliance with Applicable Laws vent all fumes and odors from the Premises (and remove odors from
Tenant’s exhaust stream) as Landlord requires. The placement and configuration of all ventilation exhaust pipes, louvers and other equipment shall be subject to Landlord’s approval. Tenant acknowledges Landlord’s legitimate desire to
maintain the Project (indoor and outdoor areas) in an odor-free manner, and Landlord may require Tenant to abate and remove all odors in a manner that goes beyond the requirements of Applicable Laws. 

22.3. Tenant shall, at Tenant’s sole cost and expense, provide odor eliminators and other devices (such as filters, air cleaners,
scrubbers and whatever other equipment may in Landlord’s judgment be necessary or appropriate from time to time) to completely remove, eliminate and abate any odors, fumes or other substances in Tenant’s exhaust stream that, in
Landlord’s judgment, emanate from Tenant’s Premises. Any work Tenant performs under this Section shall constitute Alterations. 
 22.4. Tenant’s responsibility to remove, eliminate and abate odors, fumes and exhaust shall continue throughout the Term. Landlord’s approval of the Tenant Improvements shall not preclude
Landlord from requiring additional measures to eliminate odors, fumes and other adverse impacts of Tenant’s exhaust stream (as Landlord may designate in Landlord’s discretion). Tenant shall install additional equipment as Landlord requires
from time to time under the preceding sentence. Such installations shall constitute Alterations. 
 22.5. If Tenant fails to
install satisfactory odor control equipment within ten (10) business days after Landlord’s demand made at any time, then Landlord may, without limiting 

  
 28 

 
Landlord’s other rights and remedies, require Tenant to cease and suspend any operations in the Premises that, in Landlord’s determination, cause odors, fumes or exhaust. For example,
if Landlord determines that Tenant’s production of a certain type of product causes odors, fumes or exhaust, and Tenant does not install satisfactory odor control equipment within ten (10) business days after Landlord’s request, then
Landlord may require Tenant to stop producing such type of product in the Premises unless and until Tenant has installed odor control equipment satisfactory to Landlord. 
 23. Insurance; Waiver of Subrogation. 
 23.1. Landlord shall maintain
insurance for the Building and the Project in amounts equal to full replacement cost (exclusive of the costs of excavation, foundations and footings, and without reference to depreciation taken by Landlord upon its books or tax returns) or such
lesser coverage as Landlord may elect, provided that such coverage shall not be less than ninety percent (90%) of such full replacement cost or the amount of such insurance Landlord’s Lender, if any, requires Landlord to maintain,
providing protection against any peril generally included within the classification “Fire and Extended Coverage,” together with insurance against sprinkler damage (if applicable), vandalism and malicious mischief. Landlord, subject to
availability thereof, shall further insure, if Landlord deems it appropriate, coverage against flood, environmental hazard, earthquake, loss or failure of building equipment, rental loss during the period of repairs or rebuilding, workmen’s
compensation insurance and fidelity bonds for employees employed to perform services. Notwithstanding the foregoing, Landlord may, but shall not be deemed required to, provide insurance for any improvements installed by Tenant or that are in
addition to the standard improvements customarily furnished by Landlord, without regard to whether or not such are made a part of or are affixed to the Building. 
 23.2. In addition, Landlord shall carry commercial general liability insurance with a single limit of not less than Two Million Dollars ($2,000,000) for death or bodily injury, or property damage with
respect to the Project. 
 23.3. Tenant shall, at its own cost and expense, procure and maintain in effect, beginning on the
Term Commencement Date or the date of occupancy, whichever occurs first, and continuing throughout the Term (and occupancy by Tenant, if any, after termination of this Lease) comprehensive public liability insurance with limits of not less than Two
Million Dollars ($2,000,000) per occurrence for death or bodily injury and for property damage with respect to the Premises (including $100,000 fire legal liability (each loss)); and pollution and environmental liability insurance covering the
environmental risks of Tenant’s business with limits of not less than Three Million Dollars ($3,000,000) per occurrence and not less than Five Million Dollars ($5,000,000) in the aggregate, with respect to environmental contamination and
pollution of the Premises caused by Tenant. 
 23.4. The insurance required to be purchased and maintained by Tenant pursuant to
this Lease shall name Landlord, BioMed Realty, L.P., BioMed Realty Trust, Inc. and their respective officers, directors, employees, agents, general partners, members, subsidiaries, affiliates and Lenders (“Landlord Parties”) as
additional insureds. Said insurance shall be with companies authorized to do business in the state in which the Project is located and having a rating of not less than policyholder rating of A and financial category rating of at least Class XII in
“Best’s Insurance Guide.” Tenant shall obtain for Landlord from the insurance companies or cause the 

  
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insurance companies to furnish certificates of coverage to Landlord. No such policy shall be cancelable or subject to reduction of coverage or other modification or cancellation except after
thirty (30) days’ prior written notice to Landlord from the insurer (except in the event of non-payment of premium, in which case ten (10) days written notice shall be given). All such policies shall be written as primary policies,
not contributing with and not in excess of the coverage that Landlord may carry. Tenant’s policy may be a “blanket policy” that specifically provides that the amount of insurance shall not be prejudiced by other losses covered by the
policy. Tenant shall, prior to the expiration of such policies, furnish Landlord with renewals or binders. Tenant agrees that if Tenant does not take out and maintain such insurance, Landlord may (but shall not be required to) procure said insurance
on Tenant’s behalf and at its cost to be paid by Tenant as Additional Rent. 
 23.5. Tenant assumes the risk of damage to
any fixtures, goods, inventory, merchandise, equipment and leasehold improvements, and Landlord shall not be liable for injury to Tenant’s business or any loss of income therefrom, relative to such damage, all as more particularly set forth
within this Lease. Tenant shall, at Tenant’s sole cost and expense, carry such insurance as Tenant desires for Tenant’s protection with respect to personal property of Tenant or business interruption. 

23.6. In each instance where insurance is to name Landlord Parties as additional insureds, Tenant shall, upon Landlord’s written
request, also designate and furnish certificates evidencing such Landlord Parties as additional insureds to (a) any Lender of Landlord holding a security interest in the Building, the Property or the Project, (b) the landlord under any
lease whereunder Landlord is a tenant of the Property if the interest of Landlord is or shall become that of a tenant under a ground lease rather than that of a fee owner and (c) any management company retained by Landlord to manage the
Project. 
 23.7. Landlord and Tenant each hereby waive any and all rights of recovery against the other or against the
officers, directors, employees, agents, general partners, members, subsidiaries, affiliates and Lenders of the other on account of loss or damage occasioned by such waiving party or its property or the property of others under such waiving
party’s control, in each case to the extent that such loss or damage is insured against under any fire and extended coverage insurance policy that either Landlord or Tenant may have in force at the time of such loss or damage. Such waivers
shall continue so long as their respective insurers so permit. Any termination of such a waiver shall be by written notice to the other party, containing a description of the circumstances hereinafter set forth in this Section. Landlord and Tenant,
upon obtaining the policies of insurance required or permitted under this Lease, shall give notice to the insurance carrier or carriers that the foregoing mutual waiver of subrogation is contained in this Lease. If such policies shall not be
obtainable with such waiver or shall be so obtainable only at a premium over that chargeable without such waiver, then the party seeking such policy shall notify the other of such conditions, and the party so notified shall have ten (10) days
thereafter to either (a) procure such insurance with companies reasonably satisfactory to the other party or (b) agree to pay such additional premium (in Tenant’s case, in the proportion that the area of the Premises bears to the
insured area). If the parties do not accomplish either (a) or (b), then this Section shall have no effect during such time as such policies shall not be obtainable or the party in whose favor a waiver of subrogation is desired refuses to pay
the additional premium. If such policies shall at any time be unobtainable, but shall be subsequently obtainable, then neither party shall be subsequently liable for a failure to obtain such insurance until a reasonable time

  
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after notification thereof by the other party. If the release of either Landlord or Tenant, as set forth in the first sentence of this Section, shall contravene Applicable Laws, then the
liability of the party in question shall be deemed not released but shall be secondary to the other party’s insurer. 

23.8. Landlord may require insurance policy limits required under this Lease to be raised to conform with requirements of Landlord’s
Lender or to bring coverage limits to levels then being required of new tenants within the Project. 
 23.9. Any costs incurred
by Landlord pursuant to this Article shall constitute a portion of Operating Expenses. 
 24. Damage or Destruction. 

24.1. In the event of a partial destruction of (a) the Premises or (b) Common Areas of the Project ((a) and (b) together,
the “Affected Areas”) by fire or other perils covered by extended coverage insurance not exceeding twenty-five percent (25%) of the full insurable value thereof, and provided that (x) the damage thereto is such that
the Affected Areas may be repaired, reconstructed or restored within a period of six (6) months from the date of the happening of such casualty, (y) Landlord shall receive insurance proceeds sufficient to cover the cost of such repairs
(except for any deductible amount provided by Landlord’s policy, which deductible amount, if paid by Landlord, shall constitute an Operating Expense) and (z) such casualty was not intentionally caused by Tenant or its employees, agents or
contractors, then Landlord shall commence and proceed diligently with the work of repair, reconstruction and restoration of the Affected Areas and this Lease shall continue in full force and effect. 

24.2. In the event of any damage to or destruction of the Building or the Project other than as described in Section 24.1,
Landlord may elect to repair, reconstruct and restore the Building or the Project, as applicable, in which case this Lease shall continue in full force and effect. If Landlord elects not to repair the Building or the Project, as applicable, then
this Lease shall terminate as of the date of such damage or destruction. In the event of any damage or destruction (regardless of whether such damage falls under Section 24.1 or this Section 24.2), if (a) in
Landlord’s determination as set forth in the Damage Repair Estimate (defined below), the Affected Areas cannot be restored within twelve (12) months after the date of the Damage Repair Estimate or (b) the Damage Repair Estimate states
that the Affected Areas will be repaired, reconstructed or restored in a period of twelve (12) months or less, and subject to Section 24.6 and any delay caused by Tenant, the Affected Areas are not actually repaired, restored or
reconstructed within such twelve (12) months period, then, subject to the Damage Cure Period (as defined below), Tenant shall have the right to terminate this Lease, effective as of the date of such damage or destruction, by delivering to
Landlord its written notice of termination (a “Notice of Termination”) (y) with respect to Section 24.2(a), no later than fifteen (15) days after Landlord delivers Landlord’s Damage Repair Estimate and
(z) with respect to Section 24.2(b), no later than fifteen (15) days after such twelve (12) month period (as may be extended pursuant to Section 24.6 and as a result of any other delay caused by Tenant) has
expired. If Tenant provides Landlord with a Termination Notice pursuant to Section 24.2(z), Landlord shall have an additional thirty (30) days (the “Damage Cure Period”) from receipt of such Termination Notice to
complete the repair, reconstruction or restoration. If Landlord does not complete such repair, reconstruction or restoration within the Damage Cure Period, then 

  
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Tenant may terminate this Lease by giving Landlord written notice at the expiration of such Damage Cure Period. If Landlord does complete such repair, reconstruction or restoration within such
Damage Cure Period, then this Lease shall continue in full force and effect. 
 24.3. As soon as reasonably practicable, but in
any event within sixty (60) days following the date of damage or destruction, Landlord shall notify Tenant of Landlord’s good faith estimated assessment of the period of time in which the repairs will be completed (“Damage Repair
Estimate”), which assessment shall be based upon the opinion of a contractor reasonably selected by Landlord and experienced in comparable repairs of similar buildings. Additionally, Landlord shall give written notice to Tenant within sixty
(60) days following the date of damage or destruction of its election not to repair, reconstruct or restore the Building or the Project, as applicable. 
 24.4. Upon any termination of this Lease under any of the provisions of this Article, the parties shall be released thereby without further obligation to the other from the date possession of the Premises
is surrendered to Landlord, except with regard to (a) matters occurring prior to the damage or destruction and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof. 

24.5. In the event of repair, reconstruction and restoration as provided in this Article, all Rent to be paid by Tenant under this Lease
shall be abated proportionately from the date of the casualty based on the extent to which Tenant’s use of the Premises is impaired during the period of such repair, reconstruction or restoration, unless Landlord provides Tenant with other
space during the period of repair that, in Tenant’s reasonable opinion, is suitable for the temporary conduct of Tenant’s business; provided, however, that the amount of such abatement shall be reduced by the proceeds of business
interruption or loss of rental income insurance actually received by Tenant with respect to the Premises. 
 24.6.
Notwithstanding anything to the contrary contained in this Article, should Landlord be delayed or prevented from completing the repair, reconstruction or restoration of the damage or destruction to the Premises after the occurrence of such damage or
destruction by Force Majeure, then the time for Landlord to commence or complete repairs shall be extended on a day-for-day basis; provided, however, that, at Landlord’s election, Landlord shall be relieved of its obligation to make such
repair, reconstruction or restoration. In the event Landlord elects not to complete such repair, reconstruction or restoration due to such Force Majeure, then this Lease shall automatically terminate except with respect to those provisions which
survive such termination. 
 24.7. If Landlord is obligated to or elects to repair, reconstruct or restore as herein provided,
then Landlord shall be obligated to make such repair, reconstruction or restoration only with regard to (a) those portions of the Premises that were originally provided at Landlord’s expense and (b) the Common Area portion of the
Affected Areas. The repair, reconstruction or restoration of improvements not originally provided by Landlord or at Landlord’s expense shall be the obligation of Tenant. In the event Tenant has elected to upgrade certain improvements from the
Building Standard, Landlord shall, upon the need for replacement due to an insured loss, provide only the Building Standard, unless Tenant again elects to upgrade such improvements and pay any incremental costs related thereto, except to the extent
that excess insurance proceeds, if received, are adequate to provide such upgrades, in addition to providing for basic repair, reconstruction and restoration of the Premises, the Building and the Project. 

  
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 24.8. Notwithstanding anything to the contrary contained in this Article, Landlord shall
not have any obligation whatsoever to repair, reconstruct or restore the Premises if the damage resulting from any casualty covered under this Article occurs during the last twenty-four (24) months of the Term or any extension thereof, or to
the extent that insurance proceeds are not available therefor. 
 24.9. Landlord’s obligation, should it elect or be
obligated to repair or rebuild, shall be limited to the Affected Areas. Tenant shall, at its expense, replace or fully repair all of Tenant’s personal property and any Alterations installed by Tenant existing at the time of such damage or
destruction. If Affected Areas are to be repaired in accordance with the foregoing, Landlord shall make available to Tenant any portion of insurance proceeds it receives that are allocable to the Alterations constructed by Tenant pursuant to this
Lease; provided Tenant is not then in default under this Lease, and subject to the requirements of any Lender of Landlord. 
 25.
Eminent Domain. 
 25.1. In the event (a) the whole of all Affected Areas or (b) such part thereof as shall
substantially interfere with Tenant’s use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or
eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority, except with regard to (y) matters occurring prior to the taking and
(z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof. 
 25.2.
In the event of a partial taking of (a) the Building or the Project or (b) drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right
of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to
(a) matters occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a
material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting office or laboratory space. 
 25.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant’s personal property that was installed at Tenant’s expense and
(b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord. 
 25.4. If, upon any taking of the nature described in this Article, this Lease continues in effect, then Landlord shall promptly proceed to restore the Affected Areas to substantially their same condition
prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer
available to Tenant. 

  
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 26. Surrender. 
 26.1. At least ten (10) days prior to Tenant’s surrender of possession of any part of the Premises, Tenant shall provide Landlord with (a) a facility decommissioning and Hazardous Materials
closure plan for the Premises (“Exit Survey”) prepared by an independent third party reasonably acceptable to Landlord, (b) written evidence of all appropriate governmental releases obtained by Tenant in accordance with
Applicable Laws, including laws pertaining to the surrender of the Premises, and (c) proof that the Premises have been decommissioned in accordance with American National Standards Institute (“ANSI”) Publication Z9.11-2008
(entitled “Laboratory Decommissioning”) or any successor standards published by ANSI or any successor organization (or, if ANSI and its successors no longer exist, a similar entity publishing similar standards). In addition, Tenant agrees
to remain responsible after the surrender of the Premises for the remediation of any recognized environmental conditions set forth in the Exit Survey and compliance with any recommendations set forth in the Exit Survey. Tenant’s obligations
under this Section shall survive the expiration or earlier termination of the Lease. 
 26.2. No surrender of possession of any
part of the Premises shall release Tenant from any of its obligations hereunder, unless such surrender is accepted in writing by Landlord. 
 26.3. The voluntary or other surrender of this Lease by Tenant shall not effect a merger with Landlord’s fee title or leasehold interest in the Premises, the Building, the Property or the Project,
unless Landlord consents in writing, and shall, at Landlord’s option, operate as an assignment to Landlord of any or all subleases. 
 26.4. The voluntary or other surrender of any ground or other underlying lease that now exists or may hereafter be executed affecting the Building or the Project, or a mutual cancellation thereof or of
Landlord’s interest therein by Landlord and its lessor shall not effect a merger with Landlord’s fee title or leasehold interest in the Premises, the Building or the Property and shall, at the option of the successor to Landlord’s
interest in the Building or the Project, as applicable, operate as an assignment of this Lease. 
 27. Holding Over. 

27.1. If, with Landlord’s prior written consent, Tenant holds possession of all or any part of the Premises after the Term, Tenant
shall become a tenant from month to month after the expiration or earlier termination of the Term, and in such case Tenant shall continue to pay (a) Base Rent in accordance with Article 7 and (b) any amounts for which Tenant would
otherwise be liable under this Lease if the Lease were still in effect, including payments for Tenant’s Share of Operating Expenses. Any such month-to-month tenancy shall be subject to every other term, covenant and agreement contained herein.

 27.2. Notwithstanding the foregoing, if Tenant remains in possession of the Premises after the expiration or earlier
termination of the Term without Landlord’s prior written consent, (a) Tenant shall become a tenant at sufferance subject to the terms and conditions of this Lease, except that the monthly rent shall be equal to one hundred fifty percent
(150%) of the Rent in 

  
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effect during the last thirty (30) days of the Term, and (b) Tenant shall be liable to Landlord for any and all damages suffered by Landlord as a result of such holdover, including any
lost rent or consequential, special and indirect damages. 
 27.3. Acceptance by Landlord of Rent after the expiration or
earlier termination of the Term shall not result in an extension, renewal or reinstatement of this Lease. 
 27.4. The foregoing
provisions of this Article are in addition to and do not affect Landlord’s right of reentry or any other rights of Landlord hereunder or as otherwise provided by Applicable Laws. 
 28. Indemnification and Exculpation. 
 28.1. Tenant agrees to indemnify,
save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the Landlord Indemnitees harmless from and against any and all Claims arising from injury or death to any person or damage to any property occurring
within or about the Premises, the Building, the Property or the Project arising directly or indirectly out of Tenant’s or Tenant’s employees’, agents’, contractors’ or invitees’ use or occupancy of the Premises or a
breach or default by Tenant in the performance of any of its obligations hereunder, except to the extent caused by Landlord’s negligence or willful misconduct. Subject to Sections 23.7, 28.2 and 31.12 and any subrogation
provisions contained in the Work Letter, Landlord agrees to indemnify, save, defend (at Tenant’s option and with counsel reasonably acceptable to Tenant) and hold Tenant and its employees, agents and contractors harmless from and against any
and all Claims arising from injury or death to any person or damage to any property occurring within or about the Premises, the Building, the Property or the Project arising out of Landlord’s gross negligence or willful misconduct. 

28.2. Notwithstanding anything in this Lease to the contrary, Landlord shall not be liable to Tenant for, and Tenant assumes all risk of,
damage to (a) personal property or scientific research, including loss of records kept by Tenant within the Premises and (b) damage or losses caused by fire, electrical malfunction, gas explosion or water damage of any type (including
broken water lines, malfunctioning fire sprinkler systems, roof leaks or stoppages of lines), unless, (y) with respect to (a) and (b), any such loss is due to Landlord’s willful disregard of written notice by Tenant of need for a
repair that Landlord is responsible to make for an unreasonable period of time or (z) with respect to (a), such damage is caused solely by Landlord’s gross negligence or willful misconduct; provided, however, that in no event shall
Landlord’s liability exceed the amount of insurance proceeds received by Landlord from policies that Landlord is required to carry pursuant to this Lease. Tenant further waives any claim for injury to Tenant’s business or loss of income
relating to any such damage or destruction of personal property as described in this Section. 
 28.3. Landlord shall not be
liable for any damages arising from any act, omission or neglect of any other tenant in the Building or the Project, or of any other third party. 
 28.4. Tenant acknowledges that security devices and services, if any, while intended to deter crime, may not in given instances prevent theft or other criminal acts. Landlord shall not be liable for
injuries or losses caused by criminal acts of third parties, and Tenant assumes the risk that any security device or service may malfunction or otherwise be circumvented by a criminal. If Tenant desires protection against such criminal acts, then
Tenant shall, at Tenant’s sole cost and expense, obtain appropriate insurance coverage. 

  
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 28.5. The provisions of this Article shall survive the expiration or earlier termination of
this Lease. 
 29. Assignment or Subletting. 
 29.1. Except as hereinafter expressly permitted, Tenant shall not, either voluntarily or by operation of Applicable Laws, directly or indirectly sell, hypothecate, assign, pledge, encumber or otherwise
transfer this Lease, or sublet the Premises (each, a “Transfer”), without Landlord’s prior written consent. Notwithstanding the foregoing, Tenant shall have the right to Transfer without Landlord’s prior written consent
the Premises or any part thereof to (a) any person that as of the date of determination and at all times thereafter directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with Tenant
(“Tenant’s Affiliate”) or (b) any entity that succeeds to Tenant’s interest in this Lease by reason of merger, sale or acquisition (whereby the sale or acquisition consists of all or substantially all of Tenant’s
stock and assets) or consolidation (“Tenant’s Successor”), provided that Tenant shall notify Landlord in writing at least ten (10) days prior to the effectiveness of such Transfer to Tenant’s Affiliate or
Tenant’s Successor (each, an “Exempt Transfer”) and otherwise comply with the requirements of this Lease regarding such Transfer. For purposes of this Article, “control” requires both (y) owning (directly or
indirectly) more than fifty percent (50%) of the stock or other equity interests of another person and (z) possessing, directly or indirectly, the power to direct or cause the direction of the management and policies of such person. The
routine issuance or transfer of non-controlling interests of equity in Tenant over a public stock exchange (provided that such issuance or transfer is in no way related to a change in control of Tenant) shall not be deemed a Transfer. In no
event shall Tenant perform a Transfer to or with an entity that is a tenant at the Project or that is in discussions or negotiations (or has been in discussions or negotiations within the last three (3) months of the then-current time) with
Landlord or an affiliate of Landlord to lease premises at the Project or a property owned by Landlord or an affiliate of Landlord in the West-Cambridge submarket. 
 29.2. In the event Tenant desires to effect a Transfer, then, at least thirty (30) but not more than ninety (90) days prior to the date when Tenant desires the assignment or sublease to be
effective (the “Transfer Date”), Tenant shall provide written notice to Landlord (the “Transfer Notice”) containing information (including references) concerning the character of the proposed transferee, assignee or
sublessee; the Transfer Date; any ownership or commercial relationship between Tenant and the proposed transferee, assignee or sublessee; and the consideration and all other material terms and conditions of the proposed Transfer, all in such detail
as Landlord shall reasonably require. 
 29.3. Landlord, in determining whether consent should be given to a proposed Transfer,
may give consideration to (a) the financial strength of such transferee, assignee or sublessee (notwithstanding Tenant remaining liable for Tenant’s performance), (b) any change in use that such transferee, assignee or sublessee
proposes to make in the use of the Premises and (c) Landlord’s desire to exercise its rights under Section 29.8 to cancel this Lease. In no event shall Landlord be deemed to be unreasonable for declining to consent to a
Transfer to a transferee, assignee or sublessee of poor reputation, lacking financial qualifications or seeking a change in 

  
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the Permitted Use, or jeopardizing directly or indirectly the status of Landlord or any of Landlord’s affiliates as a Real Estate Investment Trust under the Internal Revenue Code of 1986 (as
the same may be amended from time to time, the “Revenue Code”). Notwithstanding anything contained in this Lease to the contrary, (w) no Transfer shall be consummated on any basis such that the rental or other amounts to be
paid by the occupant, assignee, manager or other transferee thereunder would be based, in whole or in part, on the income or profits derived by the business activities of such occupant, assignee, manager or other transferee; (x) Tenant shall
not furnish or render any services to an occupant, assignee, manager or other transferee with respect to whom transfer consideration is required to be paid, or manage or operate the Premises or any capital additions so transferred, with respect to
which transfer consideration is being paid; (y) Tenant shall not consummate a Transfer with any person in which Landlord owns an interest, directly or indirectly (by applying constructive ownership rules set forth in Section 856(d)(5) of
the Revenue Code); and (z) Tenant shall not consummate a Transfer with any person or in any manner that could cause any portion of the amounts received by Landlord pursuant to this Lease or any sublease, license or other arrangement for the
right to use, occupy or possess any portion of the Premises to fail to qualify as “rents from real property” within the meaning of Section 856(d) of the Revenue Code, or any similar or successor provision thereto or which could cause
any other income of Landlord to fail to qualify as income described in Section 856(c)(2) of the Revenue Code. 
 29.4. As
conditions precedent to Tenant making an Exempt Transfer, subleasing the Premises or to Landlord considering a request by Tenant to Tenant’s transfer of rights or sharing of the Premises, Landlord may require any or all of the following:

 (a) Tenant shall remain fully liable under this Lease during the unexpired Term; 

(b) Tenant shall provide Landlord with evidence reasonably satisfactory to Landlord that the value of Landlord’s interest under this
Lease shall not be diminished or reduced by the proposed Transfer. Such evidence shall include evidence respecting the relevant business experience and financial responsibility and status of the proposed transferee, assignee or sublessee;

 (c) Tenant shall reimburse Landlord for Landlord’s actual costs and expenses, including reasonable attorneys’ fees,
charges and disbursements incurred in connection with the review, processing and documentation of such request; 
 (d) If
Tenant’s transfer of rights or sharing of the Premises provides for the receipt by, on behalf of or on account of Tenant of any consideration of any kind whatsoever (including a premium rental for a sublease or lump sum payment for an
assignment, but excluding Tenant’s reasonable costs in marketing and subleasing the Premises) in excess of the rental and other charges due to Landlord under this Lease, Tenant shall pay fifty percent (50%) of all of such excess to
Landlord, after making deductions for any reasonable marketing expenses, tenant improvement funds expended by Tenant, alterations, cash concessions, brokerage commissions, attorneys’ fees and free rent actually paid by Tenant. If said
consideration consists of cash paid to Tenant, payment to Landlord shall be made upon receipt by Tenant of such cash payment; 

  
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 (e) The proposed transferee, assignee or sublessee shall agree that, in the event Landlord
gives such proposed transferee, assignee or sublessee notice that Tenant is in default under this Lease, such proposed transferee, assignee or sublessee shall thereafter make all payments otherwise due Tenant directly to Landlord, which payments
shall be received by Landlord without any liability being incurred by Landlord, except to credit such payment against those due by Tenant under this Lease, and any such proposed transferee, assignee or sublessee shall agree to attorn to Landlord or
its successors and assigns should this Lease be terminated for any reason; provided, however, that in no event shall Landlord or its Lenders, successors or assigns be obligated to accept such attornment; 

(f) Landlord’s consent to any such Transfer shall be effected on Landlord’s forms; 

(g) Tenant shall not then be in default hereunder in any respect; 

(h) Such proposed transferee, assignee or sublessee’s use of the Premises shall be the same as the Permitted Use; 

(i) Landlord shall not be bound by any provision of any agreement pertaining to the Transfer, except for Landlord’s written consent
to the same; 
 (j) Tenant shall pay all transfer and other taxes (including interest and penalties) assessed or payable for any
Transfer; 
 (k) Landlord’s consent (or waiver of its rights) for any Transfer shall not waive Landlord’s right to
consent to any later Transfer; 
 (l) Tenant shall deliver to Landlord one executed copy of any and all written instruments
evidencing or relating to the Transfer; and 
 (m) A list of Hazardous Materials (as defined in Section 21.7),
certified by the proposed transferee, assignee or sublessee to be true and correct, that the proposed transferee, assignee or sublessee intends to use or store in the Premises. Additionally, Tenant shall deliver to Landlord, on or before the date
any proposed transferee, assignee or sublessee takes occupancy of the Premises, all of the items relating to Hazardous Materials of such proposed transferee, assignee or sublessee as described in Section 21.2. 

29.5. Any Transfer that is not in compliance with the provisions of this Article shall be void and shall, at the option of Landlord,
terminate this Lease. 
 29.6. The consent by Landlord to a Transfer shall not relieve Tenant or proposed transferee, assignee
or sublessee from obtaining Landlord’s consent to any further Transfer, nor shall it release Tenant or any proposed transferee, assignee or sublessee of Tenant from full and primary liability under this Lease. 

29.7. Notwithstanding any Transfer, Tenant shall remain fully and primarily liable for the payment of all Rent and other sums due or to
become due hereunder, and for the full performance of all other terms, conditions and covenants to be kept and performed by Tenant. The acceptance of Rent or any other sum due hereunder, or the acceptance of performance of any other term, covenant
or condition thereof, from any person or entity other than Tenant shall not be deemed a waiver of any of the provisions of this Lease or a consent to any Transfer. 

  
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 29.8. If Tenant delivers to Landlord a Transfer Notice indicating a desire to transfer this
Lease to a proposed transferee, assignee or sublessee other than as provided within Section 29.4, then Landlord shall have the option, exercisable by giving notice to Tenant at any time within ten (10) days after Landlord’s
receipt of such Transfer Notice, to terminate this Lease as of the date specified in the Transfer Notice as the Transfer Date, except for those provisions that, by their express terms, survive the expiration or earlier termination hereof. If
Landlord exercises such option, then Tenant shall have the right to withdraw such Transfer Notice by delivering to Landlord written notice of such election within five (5) days after Landlord’s delivery of notice electing to exercise
Landlord’s option to terminate this Lease. In the event Tenant withdraws the Transfer Notice as provided in this Section, this Lease shall continue in full force and effect. No failure of Landlord to exercise its option to terminate this Lease
shall be deemed to be Landlord’s consent to a proposed Transfer. 
 29.9. If Tenant sublets the Premises or any portion
thereof, Tenant hereby immediately and irrevocably assigns to Landlord, as security for Tenant’s obligations under this Lease, all rent from any such subletting, and appoints Landlord as assignee and attorney-in-fact for Tenant, and Landlord
(or a receiver for Tenant appointed on Landlord’s application) may collect such rent and apply it toward Tenant’s obligations under this Lease; provided that, until the occurrence of a Default (as defined below) by Tenant, Tenant
shall have the right to collect such rent. 
 30. Subordination and Attornment. 

30.1. This Lease shall be subject and subordinate to the lien of any mortgage, deed of trust, or lease in which Landlord is tenant now or
hereafter in force against the Building or the Project and to all advances made or hereafter to be made upon the security thereof without the necessity of the execution and delivery of any further instruments on the part of Tenant to effectuate such
subordination; provided that, the subordination to future mortgages, deeds of trust or leases shall be conditioned upon Tenant’s receipt of a commercially reasonable non-disturbance agreement from such future lenders or ground lessors of
the Project. 
 30.2. Notwithstanding the foregoing, Tenant shall execute and deliver upon demand such further instrument or
instruments evidencing such subordination of this Lease to the lien of any such mortgage or mortgages or deeds of trust or lease in which Landlord is tenant as may be required by Landlord. If any such mortgagee, beneficiary or landlord under a lease
wherein Landlord is tenant (each, a “Mortgagee”) so elects, however, this Lease shall be deemed prior in lien to any such lease, mortgage, or deed of trust upon or including the Premises regardless of date and Tenant shall execute a
statement in writing to such effect at Landlord’s request. If Tenant fails to execute any document required from Tenant under this Section within ten (10) business days after written request therefor, Tenant hereby constitutes and appoints
Landlord or its special attorney-in-fact to execute and deliver any such document or documents in the name of Tenant. Such power is coupled with an interest and is irrevocable. 

30.3. Upon written request of Landlord and opportunity for Tenant to review, Tenant agrees to execute any Lease amendments not materially
altering the terms of this Lease 

  
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(including increasing Rent or modifying the Term), if required by a mortgagee or beneficiary of a deed of trust encumbering real property of which the Premises constitute a part incident to the
financing of the real property of which the Premises constitute a part. 
 30.4. In the event any proceedings are brought for
foreclosure, or in the event of the exercise of the power of sale under any mortgage or deed of trust made by Landlord covering the Premises, Tenant shall at the election of the purchaser at such foreclosure or sale attorn to the purchaser upon any
such foreclosure or sale and recognize such purchaser as Landlord under this Lease. 
 30.5. Upon request by Tenant and at
Tenant’s sole cost, Landlord shall endeavor to provide a non-disturbance agreement from all future lenders and ground lessors of the Project on a form to be reasonably agreed upon by Tenant. Landlord currently does not have a lender on the
Project. 
 31. Defaults and Remedies. 
 31.1. Late payment by Tenant to Landlord of Rent and other sums due shall cause Landlord to incur costs not contemplated by this Lease, the exact amount of which shall be extremely difficult and
impracticable to ascertain. Such costs include processing and accounting charges and late charges that may be imposed on Landlord by the terms of any mortgage or trust deed covering the Premises. Therefore, if any installment of Rent due from Tenant
is not received by Landlord within three (3) days after the date such payment is due, Tenant shall pay to Landlord (a) an additional sum of six percent (6%) of the overdue Rent as a late charge plus (b) interest at an annual rate
(the “Default Rate”) equal to the lesser of (a) twelve percent (12%) and (b) the highest rate permitted by Applicable Laws. The parties agree that this late charge represents a fair and reasonable estimate of the
costs that Landlord shall incur by reason of late payment by Tenant and shall be payable as Additional Rent to Landlord due with the next installment of Rent or within five (5) business days after Landlord’s demand, whichever is earlier.
Landlord’s acceptance of any Additional Rent (including a late charge or any other amount hereunder) shall not be deemed an extension of the date that Rent is due or prevent Landlord from pursuing any other rights or remedies under this Lease,
at law or in equity. 
 31.2. No payment by Tenant or receipt by Landlord of a lesser amount than the Rent payment herein
stipulated shall be deemed to be other than on account of the Rent, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord and satisfaction, and Landlord may accept such check
or payment without prejudice to Landlord’s right to recover the balance of such Rent or pursue any other remedy provided in this Lease or in equity or at law. If a dispute shall arise as to any amount or sum of money to be paid by Tenant to
Landlord hereunder, Tenant shall have the right to make payment “under protest,” such payment shall not be regarded as a voluntary payment, and there shall survive the right on the part of Tenant to institute suit for recovery of the
payment paid under protest. 
 31.3. If Tenant fails to pay any sum of money required to be paid by it hereunder, or shall fail
to perform any other act on its part to be performed hereunder, in each case within the applicable cure period (if any) described in Section 31.4, then Landlord may, without waiving or releasing Tenant from any obligations of Tenant, but
shall not be obligated to, make such 

  
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payment or perform such act; provided that such failure by Tenant unreasonably interfered with the use of the Building or the Project by any other tenant or with the efficient operation of
the Building or the Project, or resulted or could have resulted in a violation of Applicable Laws or the cancellation of an insurance policy maintained by Landlord. Notwithstanding the foregoing, in the event of an emergency, Landlord shall have the
right to enter the Premises and act in accordance with its rights as provided elsewhere in this Lease. In addition to the late charge described in Section 31.1, Tenant shall pay to Landlord as Additional Rent all sums so paid or incurred
by Landlord, together with interest at the Default Rate, computed from the date such sums were paid or incurred. 
 31.4. The
occurrence of any one or more of the following events shall constitute a “Default” hereunder by Tenant: 
 (a)
Tenant abandons the Premises; 
 (b) Tenant fails to make any payment of Rent, as and when due, or to satisfy its obligations
under Article 19, where such failure shall continue for a period of three (3) days after written notice thereof from Landlord to Tenant; 
 (c) Tenant fails to observe or perform any obligation or covenant contained herein (other than described in Subsections 31.4(a) and 31.4(b)) to be performed by Tenant, where such failure
continues for a period of ten (10) days after written notice thereof from Landlord to Tenant; provided that, if the nature of Tenant’s default is such that it reasonably requires more than ten (10) days to cure, Tenant shall
not be deemed to be in Default if Tenant commences such cure within said ten (10) day period and thereafter diligently prosecute the same to completion; and provided, further, that such cure is completed no later than sixty
(60) days after Tenant’s receipt of written notice from Landlord; 
 (d) Tenant makes an assignment for the benefit of
creditors; 
 (e) A receiver, trustee or custodian is appointed to or does take title, possession or control of all or
substantially all of Tenant’s assets; 
 (f) Tenant files a voluntary petition under the United States Bankruptcy Code or
any successor statute (as the same may be amended from time to time, the “Bankruptcy Code”) or an order for relief is entered against Tenant pursuant to a voluntary or involuntary proceeding commenced under any chapter of the
Bankruptcy Code; 
 (g) Any involuntary petition is filed against Tenant under any chapter of the Bankruptcy Code and is not
dismissed within one hundred twenty (120) days; 
 (h) Tenant fails to deliver an estoppel certificate in accordance with
Article 20; or 
 (i) Tenant’s interest in this Lease is attached, executed upon or otherwise judicially seized and
such action is not released within one hundred twenty (120) days of the action. 

  
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 Notices given under this Section shall specify the alleged default and shall demand that
Tenant perform the provisions of this Lease or pay the Rent that is in arrears, as the case may be, within the applicable period of time, or quit the Premises. No such notice shall be deemed a forfeiture or a termination of this Lease unless
Landlord elects otherwise in such notice. 
 31.5. In the event of a Default by Tenant, and at any time thereafter, with or
without notice or demand and without limiting Landlord in the exercise of any right or remedy that Landlord may have, Landlord has the right to do any or all of the following: 
 (a) Halt any Tenant Improvements and Alterations and order Tenant’s contractors, subcontractors, consultants, designers and material suppliers to stop work; 

(b) Terminate Tenant’s right to possession of the Premises by written notice to Tenant or by any lawful means, in which case Tenant
shall immediately surrender possession of the Premises to Landlord. In such event, Landlord shall have the immediate right to re-enter and remove all persons and property, and such property may be removed and stored in a public warehouse or
elsewhere at the cost and for the account of Tenant, all without service of notice or resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damage that may be occasioned thereby; and 

(c) Terminate this Lease, in which event Tenant shall immediately surrender possession of the Premises to Landlord. In such event,
Landlord shall have the immediate right to re-enter and remove all persons and property, and such property may be removed and stored in a public warehouse or elsewhere at the cost and for the account of Tenant, all without service of notice or
resort to legal process and without being deemed guilty of trespass or becoming liable for any loss or damage that may be occasioned thereby. In the event that Landlord shall elect to so terminate this Lease, then Landlord shall be entitled to
recover from Tenant all damages incurred by Landlord by reason of Tenant’s default, including: 
 (i) The worth at the
time of award of any unpaid Rent that had accrued at the time of such termination; plus 
 (ii) The worth at the time of award
of the amount by which the unpaid Rent that would have accrued during the period commencing with termination of the Lease and ending at the time of award exceeds that portion of the loss of Landlord’s rental income from the Premises that Tenant
proves to Landlord’s reasonable satisfaction could have been reasonably avoided; plus 
 (iii) The worth at the time of
award of the amount by which the unpaid Rent for the balance of the Term after the time of award exceeds that portion of the loss of Landlord’s rental income from the Premises that Tenant proves to Landlord’s reasonable satisfaction could
have been reasonably avoided; plus 
 (iv) Any other amount necessary to compensate Landlord for all the detriment caused by
Tenant’s failure to perform its obligations under this Lease or that in the ordinary course of things would be likely to result therefrom, including the cost of restoring the Premises to the condition required under the terms of this Lease,
including any rent payments not otherwise chargeable to Tenant (e.g., during any “free” rent period or rent holiday); plus 

  
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 (v) At Landlord’s election, such other amounts in addition to or in lieu of the
foregoing as may be permitted from time to time by Applicable Laws. 
 As used in Subsections 31.5(c)(i) and 31.5(c)(ii),
“worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Subsection 31.5(c)(iii), the “worth at the time of the award” shall be computed by taking the present value of such
amount, using the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus one (1) percentage point. 
 31.6. In addition to any other remedies available to Landlord at law or in equity and under this Lease, Landlord may continue this Lease in effect after Tenant’s Default and abandonment and recover
Rent as it becomes due. In addition, Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises. For purposes of this Section, the following acts by Landlord will not constitute the termination of
Tenant’s right to possession of the Premises: 
 (a) Acts of maintenance or preservation or efforts to relet the Premises,
including alterations, remodeling, redecorating, repairs, replacements or painting as Landlord shall consider advisable for the purpose of reletting the Premises or any part thereof; or 

(b) The appointment of a receiver upon the initiative of Landlord to protect Landlord’s interest under this Lease or in the
Premises. 
 Notwithstanding the foregoing, in the event of a Default by Tenant, Landlord may elect at any time to terminate this Lease and to
recover damages to which Landlord is entitled. 
 31.7. If Landlord does not elect to terminate this Lease as provided in
Section 31.5, then Landlord may, from time to time, recover all Rent as it becomes due under this Lease. At any time thereafter, Landlord may elect to terminate this Lease and to recover damages to which Landlord is entitled. 

31.8. In the event Landlord elects to terminate this Lease and relet the Premises, Landlord may execute any new lease in its own name.
Tenant hereunder shall have no right or authority whatsoever to collect any Rent from such tenant. The proceeds of any such reletting shall be applied as follows: 
 (a) First, to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord, including storage charges or brokerage commissions owing from Tenant to Landlord as the result of such
reletting; 
 (b) Second, to the payment of the costs and expenses of reletting the Premises, including (i) alterations and
repairs that Landlord deems reasonably necessary and advisable and (ii) reasonable attorneys’ fees, charges and disbursements incurred by Landlord in connection with the retaking of the Premises and such reletting; 

  
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 (c) Third, to the payment of Rent and other charges due and unpaid hereunder; and

 (d) Fourth, to the payment of future Rent and other damages payable by Tenant under this Lease. 

31.9. All of Landlord’s rights, options and remedies hereunder shall be construed and held to be nonexclusive and cumulative.
Landlord shall have the right to pursue any one or all of such remedies, or any other remedy or relief that may be provided by Applicable Laws, whether or not stated in this Lease. No waiver of any default of Tenant hereunder shall be implied from
any acceptance by Landlord of any Rent or other payments due hereunder or any omission by Landlord to take any action on account of such default if such default persists or is repeated, and no express waiver shall affect defaults other than as
specified in said waiver. 
 31.10. Landlord’s termination of (a) this Lease or (b) Tenant’s right to
possession of the Premises shall not relieve Tenant of any liability to Landlord that has previously accrued or that shall arise based upon events that occurred prior to the later to occur of (i) the date of Lease termination or (ii) the
date Tenant surrenders possession of the Premises. 
 31.11. To the extent permitted by Applicable Laws, Tenant waives any and
all rights of redemption granted by or under any present or future Applicable Laws if Tenant is evicted or dispossessed for any cause, or if Landlord obtains possession of the Premises due to Tenant’s default hereunder or otherwise. 

31.12. Landlord shall not be in default or liable for damages under this Lease unless Landlord fails to perform obligations required of
Landlord within a reasonable time, but in no event shall such failure continue for more than thirty (30) days after written notice from Tenant specifying the nature of Landlord’s failure; provided, however, that if the nature of
Landlord’s obligation is such that more than thirty (30) days are required for its performance, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently
prosecutes the same to completion; provided, further, that Landlord agrees to commence performance as soon as is reasonably practicable and thereafter diligently prosecute the same to completion. In no event shall Tenant have the right to
terminate or cancel this Lease or to withhold or abate rent or to set off any Claims against Rent as a result of any default or breach by Landlord of any of its covenants, obligations, representations, warranties or promises hereunder, except as may
otherwise be expressly set forth in this Lease. 
 31.13. In the event of any default by Landlord, Tenant shall give notice by
registered or certified mail to any (a) beneficiary of a deed of trust or (b) mortgagee under a mortgage covering the Premises, the Building or the Project and to any landlord of any lease of land upon or within which the Premises, the
Building or the Project is located, and shall offer such beneficiary, mortgagee or landlord a reasonable opportunity to cure the default, including time to obtain possession of the Building or the Project by power of sale or a judicial action if
such should prove necessary to effect a cure; provided that Landlord shall furnish to Tenant in writing, upon written request by Tenant, the names and addresses of all such persons who are to receive such notices. 

  
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 32. Bankruptcy. In the event a debtor, trustee or debtor in possession under the Bankruptcy Code, or
another person with similar rights, duties and powers under any other Applicable Laws, proposes to cure any default under this Lease or to assume or assign this Lease and is obliged to provide adequate assurance to Landlord that (a) a default
shall be cured, (b) Landlord shall be compensated for its damages arising from any breach of this Lease and (c) future performance of Tenant’s obligations under this Lease shall occur, then such adequate assurances shall include any
or all of the following, as designated by Landlord in its sole and absolute discretion: 
 32.1. Those acts specified in the
Bankruptcy Code or other Applicable Laws as included within the meaning of “adequate assurance,” even if this Lease does not concern a shopping center or other facility described in such Applicable Laws; 

32.2. A prompt cash payment to compensate Landlord for any monetary defaults or actual damages arising directly from a breach of this
Lease; 
 32.3. A cash deposit in an amount at least equal to the then-current amount of the Security Deposit; or 

32.4. The assumption or assignment of all of Tenant’s interest and obligations under this Lease. 

33. Brokers. 
 33.1.
Each party represents and warrants that it has had no dealings with any real estate broker or agent in connection with the negotiation of this Lease other than Richards Barry Joyce & Partners LLC (“Broker”), and that it
knows of no other real estate broker or agent that is or might be entitled to a commission in connection with this Lease. Landlord shall compensate Broker in relation to this Lease pursuant to a separate agreement between Landlord and Broker.

 33.2. Tenant represents and warrants that no broker or agent has made any representation or warranty relied upon by Tenant in
Tenant’s decision to enter into this Lease, other than as contained in this Lease. 
 33.3. Tenant acknowledges and agrees
that the employment of brokers by Landlord is for the purpose of solicitation of offers of leases from prospective tenants and that no authority is granted to any broker to furnish any representation (written or oral) or warranty from Landlord
unless expressly contained within this Lease. Landlord is executing this Lease in reliance upon Tenant’s representations, warranties and agreements contained within Sections 33.1 and 33.2. 

33.4. Tenant agrees to indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold
the Landlord Indemnitees harmless from any and all cost or liability for compensation claimed by any broker or agent, other than Broker, employed or engaged by Tenant or claiming to have been employed or engaged by Tenant. 

33.5. Landlord agrees to indemnify, save, defend (at Tenant’s option and with counsel reasonably acceptable to Tenant) and hold
Tenant harmless from any and all cost or liability for compensation claimed by any broker or agent, other than Broker, employed or engaged by Landlord or claiming to have been employed or engaged by Landlord. 

  
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 34. Definition of Landlord. With regard to obligations imposed upon Landlord pursuant to this Lease,
the term “Landlord,” as used in this Lease, shall refer only to Landlord or Landlord’s then-current successor-in-interest. In the event of any transfer, assignment or conveyance of Landlord’s interest in this Lease or in
Landlord’s fee title to or leasehold interest in the Property, as applicable, Landlord herein named (and in case of any subsequent transfers or conveyances, the subsequent Landlord) shall be automatically freed and relieved, from and after the
date of such transfer, assignment or conveyance, from all liability for the performance of any covenants or obligations contained in this Lease thereafter to be performed by Landlord and, without further agreement, the transferee, assignee or
conveyee of Landlord’s in this Lease or in Landlord’s fee title to or leasehold interest in the Property, as applicable, shall be deemed to have assumed and agreed to observe and perform any and all covenants and obligations of Landlord
hereunder during the tenure of its interest in the Lease or the Property. Landlord or any subsequent Landlord may transfer its interest in the Premises or this Lease without Tenant’s consent. 

35. Limitation of Landlord’s Liability. 
 35.1. If Landlord is in default under this Lease and, as a consequence, Tenant recovers a monetary judgment against Landlord, the judgment shall be satisfied only out of (a) the proceeds of sale
received on execution of the judgment and levy against the right, title and interest of Landlord in the Building and the Project, (b) rent or other income from such real property receivable by Landlord or (c) the consideration received by
Landlord from the sale, financing, refinancing or other disposition of all or any part of Landlord’s right, title or interest in the Building or the Project. 
 35.2. Landlord shall not be personally liable for any deficiency under this Lease. If Landlord is a partnership or joint venture, then the partners of such partnership shall not be personally liable for
Landlord’s obligations under this Lease, and no partner of Landlord shall be sued or named as a party in any suit or action, and service of process shall not be made against any partner of Landlord except as may be necessary to secure
jurisdiction of the partnership or joint venture. If Landlord is a corporation, then the shareholders, directors, officers, employees and agents of such corporation shall not be personally liable for Landlord’s obligations under this Lease, and
no shareholder, director, officer, employee or agent of Landlord shall be sued or named as a party in any suit or action, and service of process shall not be made against any shareholder, director, officer, employee or agent of Landlord. If Landlord
is a limited liability company, then the members of such limited liability company shall not be personally liable for Landlord’s obligations under this Lease, and no member of Landlord shall be sued or named as a party in any suit or action,
and service of process shall not be made against any member of Landlord except as may be necessary to secure jurisdiction of the limited liability company. No partner, shareholder, director, employee, member or agent of Landlord shall be required to
answer or otherwise plead to any service of process, and no judgment shall be taken or writ of execution levied against any partner, shareholder, director, employee, member or agent of Landlord. 

35.3. Each of the covenants and agreements of this Article shall be applicable to any covenant or agreement either expressly contained in
this Lease or imposed by Applicable Laws and shall survive the expiration or earlier termination of this Lease. 

  
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 36. Joint and Several Obligations. If more than one person or entity executes this Lease as Tenant,
then: 
 36.1. Each of them is jointly and severally liable for the keeping, observing and performing of all of the terms,
covenants, conditions, provisions and agreements of this Lease to be kept, observed or performed by Tenant; and 
 36.2. The
term “Tenant,” as used in this Lease shall mean and include each of them, jointly and severally. The act of, notice from, notice to, refund to, or signature of any one or more of them with respect to the tenancy under this Lease,
including any renewal, extension, expiration, termination or modification of this Lease, shall be binding upon each and all of the persons executing this Lease as Tenant with the same force and effect as if each and all of them had so acted, so
given or received such notice or refund, or so signed. 
 37. Representations. Tenant guarantees, warrants and represents that
(a) Tenant is duly incorporated or otherwise established or formed and validly existing under the laws of its state of incorporation, establishment or formation, (b) Tenant has and is duly qualified to do business in the state in which the
Property is located, (c) Tenant has full corporate, partnership, trust, association or other appropriate power and authority to enter into this Lease and to perform all Tenant’s obligations hereunder, (d) each person (and all of the
persons if more than one signs) signing this Lease on behalf of Tenant is duly and validly authorized to do so and (e) neither (i) the execution, delivery or performance of this Lease nor (ii) the consummation of the transactions
contemplated hereby will violate or conflict with any provision of documents or instruments under which Tenant is constituted or to which Tenant is a party. In addition, Tenant guarantees, warrants and represents that none of (x) it,
(y) its affiliates or partners nor (z) to its knowledge (having made no independent inquiry), its members, shareholders or other equity owners or any of their respective employees, officers, directors, representatives or agents is a person
or entity with whom U.S. persons or entities are restricted from doing business under regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially
Designated and Blocked Persons List) or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism) or
other similar governmental action. 
 38. Confidentiality. Tenant shall keep the terms and conditions of this Lease and any information
provided to Tenant or its employees, agents or contractors pursuant to Article 9 confidential and shall not (a) disclose to any third party any terms or conditions of this Lease or any other Lease-related document (including subleases,
assignments, work letters, construction contracts, letters of credit, subordination agreements, non-disturbance agreements, brokerage agreements or estoppels) or (b) provide to any third party an original or copy of this Lease (or any
Lease-related document). Landlord shall not release to any third party any non-public financial information or other non-public information that Tenant gives Landlord regarding Tenant’s ownership structure, its business operations, research or
financial condition, whether received verbally, electronically or in writing. Notwithstanding the foregoing, confidential information under this Section may be released by Landlord or Tenant under the following circumstances: (x) if required by
Applicable Laws or in any judicial proceeding; provided that (prior to disclosure, if feasible) the releasing party has given the other party reasonable notice of such requirement, if feasible, (y) to a party’s attorneys,
accountants, brokers and other bona fide 

  
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consultants or advisers (with respect to this Lease only); provided such third parties agree to be bound by this Section or (z) to bona fide prospective assignees or subtenants of
this Lease; provided they agree in writing to be bound by this Section. Landlord’s obligations under this paragraph shall not be applicable to information that is or becomes generally known to, or ascertainable by, the public or
Landlord, other than as a result of an unauthorized disclosure by Landlord or by persons or entities to whom Landlord has made an unauthorized disclosure. Landlord agrees that a breach of such confidentiality may cause Tenant harm for which recovery
of damages would be an inadequate remedy, and in such event, Tenant shall be entitled to obtain injunctive relief, as well as such further relief as may be granted by a court of competent jurisdiction, but excluding special, punitive, exemplary or
consequential damages. 
 39. Notices. Any notice, consent, demand, bill, statement or other communication required or permitted to be
given hereunder shall be in writing and shall be given by personal delivery, overnight delivery with a reputable nationwide overnight delivery service, or certified mail (return receipt requested), and if given by personal delivery, shall be deemed
delivered upon receipt; if given by overnight delivery, shall be deemed delivered one (1) day after deposit with a reputable nationwide overnight delivery service; and, if given by certified mail (return receipt requested), shall be deemed
delivered three (3) business days after the time the notifying party deposits the notice with the United States Postal Service. Any notices given pursuant to this Lease shall be addressed to Tenant at the Premises, or to Landlord or Tenant at
the addresses shown in Sections 2.9 and 2.10, respectively. Either party may, by notice to the other given pursuant to this Section, specify additional or different addresses for notice purposes. 

40. Rooftop Installation Area. 
 40.1. Tenant may use the entire rooftop of the Building (the “Rooftop Installation Area”) solely to operate, maintain, repair and replace rooftop antennae, mechanical equipment,
communications antennas and other equipment installed by Tenant in the Rooftop Installation Area in accordance with this Article (“Tenant’s Rooftop Equipment”). Tenant’s Rooftop Equipment shall be only for Tenant’s
use of the Premises for the Permitted Use. 
 40.2. Tenant shall install Tenant’s Rooftop Equipment at its sole cost and
expense, at such times and in such manner as Landlord may reasonably designate, and in accordance with this Article and the applicable provisions of this Lease regarding Alterations. Tenant’s Rooftop Equipment and the installation thereof shall
be subject to Landlord’s prior written approval, which approval shall not be unreasonably withheld. Among other reasons, Landlord may withhold approval if the installation or operation of Tenant’s Rooftop Equipment could reasonably be
expected to damage the structural integrity of the Building or to transmit vibrations or noise or cause other adverse effects beyond the Premises to an extent not customary in first class laboratory Buildings, unless Tenant implements measures that
are acceptable to Landlord in its reasonable discretion to avoid any such damage or transmission. 
 40.3. Tenant shall comply
with any roof or roof-related warranties. Tenant shall obtain a letter from Landlord’s roofing contractor within thirty (30) days after completion of any Tenant work on the rooftop stating that such work did not affect any such warranties.
Tenant, at its sole cost and expense, shall inspect the Rooftop Installation Area at least annually, and correct any loose bolts, fittings or other appurtenances and repair any damage to the roof caused by the installation or operation of
Tenant’s Rooftop Equipment. Tenant shall not permit the 

  
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installation, maintenance or operation of Tenant’s Rooftop Equipment to violate any Applicable Laws or constitute a nuisance. Tenant shall pay Landlord within thirty (30) days after
demand (a) all applicable taxes, charges, fees or impositions imposed on Landlord by Governmental Authorities as the result of Tenant’s use of the Rooftop Installation Areas in excess of those for which Landlord would otherwise be
responsible for the use or installation of Tenant’s Rooftop Equipment and (b) the amount of any increase in Landlord’s insurance premiums as a result of the installation of Tenant’s Rooftop Equipment. Upon Tenant’s written
request to Landlord, Landlord shall use commercially reasonable efforts to cause other tenants to remedy any interference in the operation of Tenant’s Rooftop Equipment caused by any such tenants’ equipment installed after the applicable
piece of Tenant’s Rooftop Equipment; provided, however, that Landlord shall not be required to request that such tenants waive their rights under their respective leases. 

40.4. If Tenant’s Equipment (a) causes physical damage to the structural integrity of the Building, (b) interferes with
any telecommunications, mechanical or other systems located at or near or servicing the Building or the Project that were installed prior to the installation of Tenant’s Rooftop Equipment, (c) interferes with any other service provided to
other tenants in the Building or the Project by rooftop or penthouse installations that were installed prior to the installation of Tenant’s Rooftop Equipment or (d) interferes with any other tenants’ business, in each case in excess
of that permissible under Federal Communications Commission regulations, then Tenant shall cooperate with Landlord to determine the source of the damage or interference and promptly repair such damage and eliminate such interference, in each case at
Tenant’s sole cost and expense, within ten (10) days after receipt of notice of such damage or interference (which notice may be oral; provided that Landlord also delivers to Tenant written notice of such damage or interference
within twenty-four (24) hours after providing oral notice). 
 41. Miscellaneous. 

41.1. Landlord reserves the right to change the name of the Building or the Project in its sole discretion. 

41.2. In the event Tenant ceases to be subject to the reporting obligations of the Security Exchange Act of 1934 (the
“SEC”), Tenant agrees that it shall promptly furnish to Landlord, from time to time, upon Landlord’s written request (not to exceed one time per year), the most recent year-end financial statements reflecting Tenant’s
current financial condition audited by a nationally recognized accounting firm. Tenant shall, within one hundred twenty (120) days after the end of Tenant’s financial year, furnish Landlord with a certified copy of Tenant’s year-end
financial statements for the previous year audited by a nationally recognized accounting firm. Tenant represents and warrants that all financial statements, records and information furnished by Tenant to Landlord in connection with this Lease are
true, correct and complete in all respects. If audited financials are not otherwise prepared, unaudited financials complying with generally accepted accounting principles and certified by the chief financial officer of Tenant as true, correct and
complete in all respects shall suffice for purposes of this Section. All such financial statements shall be subject to the confidentiality obligations contained in Article 38. Landlord agrees that a breach of such confidentiality may cause
Tenant harm for which recovery of damages would be an inadequate remedy, and in such event, Tenant shall be entitled to obtain injunctive relief, as well as such further relief as may be granted by a court of competent jurisdiction, but excluding
special, punitive, exemplary or consequential 

  
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damages. For the avoidance of doubt, Tenant shall have no obligations to Landlord pursuant to this Section during the period of time when Tenant is subject to the reporting obligations of the SEC
and Tenant is in compliance with such reporting obligations. 
 41.3. Where applicable in this Lease, the singular includes the
plural and the masculine or neuter includes the masculine, feminine and neuter. The words “include,” “includes,” “included” and “including” shall mean “‘include,’ etc., without limitation.”
The section headings of this Lease are not a part of this Lease and shall have no effect upon the construction or interpretation of any part hereof. 
 41.4. If either party commences an action against the other party arising out of or in connection with this Lease, then the substantially prevailing party shall be reimbursed by the other party for all
reasonable costs and expenses, including reasonable attorneys’ fees and expenses, incurred by the substantially prevailing party in such action or proceeding and in any appeal in connection therewith. 

41.5. Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease,
and shall not be effective as a lease or otherwise until execution by and delivery to both Landlord and Tenant. 
 41.6. Time is
of the essence with respect to the performance of every provision of this Lease in which time of performance is a factor. 

41.7. Each provision of this Lease performable by Tenant shall be deemed both a covenant and a condition. 

41.8. Whenever consent or approval of either party is required, that party shall not unreasonably withhold such consent or approval,
except as may be expressly set forth to the contrary. 
 41.9. The terms of this Lease are intended by the parties as a final
expression of their agreement with respect to the terms as are included herein, and may not be contradicted by evidence of any prior or contemporaneous agreement. 
 41.10. Any provision of this Lease that shall prove to be invalid, void or illegal shall in no way affect, impair or invalidate any other provision hereof, and all other provisions of this Lease shall
remain in full force and effect and shall be interpreted as if the invalid, void or illegal provision did not exist. 
 41.11.
Landlord shall, upon Tenant’s request and at Tenant’s sole cost, execute and deliver to Tenant a mutually agreeable short form or memorandum of this Lease (“Memorandum of Lease”). Neither party shall record this Lease.
Tenant shall be responsible for the cost of recording any short form or memorandum of this Lease, including any transfer or other taxes incurred in connection with said recordation. Upon termination of this Lease, Tenant, at its sole cost and
expense, shall record a discharge or termination of any previously recorded Memorandum of Lease. 

  
 50 

 41.12. The language in all parts of this Lease shall be in all cases construed as a whole
according to its fair meaning and not strictly for or against either Landlord or Tenant. 
 41.13. Each of the covenants,
conditions and agreements herein contained shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs; legatees; devisees; executors; administrators; and permitted successors, assigns,
sublessees. Nothing in this Section shall in any way alter the provisions of this Lease restricting assignment or subletting. 

41.14. This Lease shall be governed by, construed and enforced in accordance with the laws of the state in which the Premises are
located, without regard to such state’s conflict of law principles. 
 41.15. Tenant guarantees, warrants and represents
that the individual or individuals signing this Lease have the power, authority and legal capacity to sign this Lease on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other
organizations and entities on whose behalf said individual or individuals have signed. 
 41.16. This Lease may be executed in
one or more counterparts, each of which, when taken together, shall constitute one and the same document. 
 41.17. No provision
of this Lease may be modified, amended or supplemented except by an agreement in writing signed by Landlord and Tenant. The waiver by Landlord of any breach by Tenant of any term, covenant or condition herein contained shall not be deemed to be a
waiver of any subsequent breach of the same or any other term, covenant or condition herein contained. 
 41.18. To the extent
permitted by Applicable Laws, the parties waive trial by jury in any action, proceeding or counterclaim brought by the other party hereto related to matters arising out of or in any way connected with this Lease; the relationship between Landlord
and Tenant; Tenant’s use or occupancy of the Premises; or any claim of injury or damage related to this Lease or the Premises. 
 42.
Options to Extend Term. Tenant shall have two (2) options (each, an “Option”) to extend the Term by five (5) years (each, an “Option Term”) as to the entire Premises (and no less than the entire
Premises) upon the following terms and conditions. Any extension of the Term pursuant to an Option shall be on all the same terms and conditions as this Lease, except as follows: 

42.1. Base Rent during an Option Term shall equal the fair market rent for similar premises in similar buildings in the West-Cambridge
submarket as of the commencement of such Option Term, including fair market rent increases (“FMR”). If Landlord and Tenant cannot agree on the FMR for an Option Term within thirty (30) days after the date on which Tenant
notifies Landlord that it is exercising an Option, then, no later than an additional thirty (30) days thereafter (the “Submission Period”), Landlord and Tenant shall each furnish to the other a notice in writing (an
“FMR Notice”) stating such party’s estimate of the FMR. Such notices shall be accompanied by a statement from a qualified, licensed real estate appraiser with at least ten (10) years’ experience in the Cambridge area
(an “Appraiser”) stating such Appraiser’s 

  
 51 

 
opinion of FMR. If only one (1) party’s Appraiser timely submits its opinion of FMR, such FMR shall be binding on Landlord and Tenant. If, within twenty (20) days after expiration
of the Submission Period, Landlord and Tenant still cannot agree on the FMR, the two (2) Appraisers shall appoint a third qualified, licensed real estate appraiser (the “Referee”) within seven (7) days. If the Appraisers
are unable to agree upon the selection of the Referee, then the Referee shall be selected within ten (10) days thereafter from among the Massachusetts panel of qualified Real Estate Industry Arbitrators of the American Arbitrator Association
(the “Association”) pursuant to the Real Estate Industry Arbitration rules of the Association. The Referee shall, within thirty (30) days after appointment, render the Referee’s decision as to the FMR, which opinion shall
be strictly limited to choosing one of the two determinations made by the Appraisers. The decision by the Referee shall be binding upon Landlord and Tenant, and each shall pay for its own appraisal. The cost of the Referee shall be shared equally by
Landlord and Tenant. In determining FMR, Landlord, Tenant and, if applicable, the Appraisers and Referee shall each take into account all relevant factors, including, without limitation, (a) the size of the Premises and length of the Option
Term, (b) rent in comparable buildings in the relevant competitive market, including concessions offered to new tenants, such as free rent, tenant improvement allowances, and moving allowances, (c) Tenant’s creditworthiness and
(d) the quality and location of the Building and the Project. 
 42.2. No Option is assignable separate and apart from this
Lease. 
 42.3. An Option is conditional upon Tenant giving Landlord written notice of its election to exercise such Option at
least twelve (12) months prior to the end of the expiration of the then-current Term. Time shall be of the essence as to Tenant’s exercise of an Option. Tenant assumes full responsibility for maintaining a record of the deadlines to
exercise an Option. Tenant acknowledges that it would be inequitable to require Landlord to accept any exercise of an Option after the date provided for in this Section. 
 42.4. Notwithstanding anything contained in this Article to the contrary, Tenant shall not have the right to exercise an Option: 
 (a) During the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified
default to Landlord’s reasonable satisfaction; or 
 (b) At any time after any Default as described in Article 31 of
the Lease (provided, however, that, for purposes of this Subsection 42.4(b), Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is
susceptible to being cured; or 
 (c) In the event that Tenant has defaulted in the performance of its obligations under this
Lease two (2) or more times and a service or late charge has become payable under Section 31.1 for each of such defaults during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Option,
whether or not Tenant has cured such defaults. 
 42.5. The period of time within which Tenant may exercise an Option shall not
be extended or enlarged by reason of Tenant’s inability to exercise such Option because of the provisions of Section 42.4. 

  
 52 

 42.6. All of Tenant’s rights under the provisions of an Option shall terminate and be
of no further force or effect even after Tenant’s due and timely exercise of such Option if, after such exercise, but prior to the commencement date of the new term, (a) Tenant fails to pay to Landlord a monetary obligation of Tenant for a
period of twenty (20) days after written notice from Landlord to Tenant, (b) Tenant fails to commence to cure a default (other than a monetary default) within thirty (30) days after the date Landlord gives notice to Tenant of such
default or (c) Tenant has defaulted under this Lease two (2) or more times and a service or late charge under Section 31.1 has become payable for any such default, whether or not Tenant has cured such defaults. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 53 

 IN WITNESS WHEREOF, the parties hereto have executed this Lease as of the date first above
written. 
  

			
	LANDLORD:
	
	 BMR-FRESH POND RESEARCH PARK LLC,
 a Delaware limited liability company

		
	 By:
	 	 /s/ Kevin M. Simonsen

	 Name:
	 	 Kevin M. Simonsen

	 Title:
	 	 VP, Real Estate Counsel

	
	TENANT:
	
	 ALNYLAM PHARMACEUTICALS, INC.,
 a Delaware corporation

		
	 By:
	 	 /s/ Michael Mason

	 Name:
	 	 Michael Mason

	 Title:
	 	 Vice President of Finance

 EXHIBIT A 
 PREMISES 
  
 

 

  
 A-1

 EXHIBIT B 
 WORK LETTER 
 This Work Letter (this
“Work Letter”) is made and entered into as of the 10th day of February, 2012, by and between BMR-FRESH POND RESEARCH PARK LLC, a Delaware limited liability company (“Landlord”), and ALNYLAM PHARMACEUTICALS, INC., a Delaware corporation
(“Tenant”), and is attached to and made a part of that certain Lease dated as of February 10, 2012 (as the same may be amended, amended and restated, supplemented or otherwise modified from time to time, the
“Lease”), by and between Landlord and Tenant for the Premises located at 665 Concord Avenue, Cambridge, Massachusetts. All capitalized terms used but not otherwise defined herein shall have the meanings given them in the Lease.

 1. General Requirements. 
 1.1. Authorized Representatives. 
 (a) Landlord designates, as
Landlord’s authorized representative (“Landlord’s Authorized Representative”), (a) Timothy Stoll as the person authorized to initial plans, drawings and approvals pursuant to this Work Letter and (b) John Bonanno
as the person authorized to initial plans, drawings, approvals and to sign change orders pursuant to this Work Letter and any amendments to this Work Letter or the Lease. Tenant shall not be obligated to respond to or act upon any such item until
such item has been initialed or signed (as applicable) by the appropriate Landlord’s Authorized Representative. Landlord may change either Landlord’s Authorized Representative upon one (1) business day’s prior written notice to
Tenant. 
 (b) Tenant designates [**] (“Tenant’s Authorized Representative”) as the person authorized to
initial and sign all plans, drawings, change orders and approvals pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any such item until such item has been initialed or signed (as applicable) by Tenant’s
Authorized Representative. Tenant may change Tenant’s Authorized Representative upon one (1) business day’s prior written notice to Landlord. 
 1.2. Schedule. The schedule for design and development of the Tenant Improvements, including the time periods for preparation and review of construction documents, approvals and performance, shall
be in accordance with a schedule to be prepared by Tenant (the “Schedule”). Tenant shall prepare the Schedule so that it is a reasonable schedule for the completion of the Tenant Improvements. As soon as the Schedule is completed,
Tenant shall deliver the same to Landlord for Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Such Schedule shall be approved or disapproved by Landlord within seven (7) business days after
delivery to Landlord. Landlord’s failure to respond within such seven (7) business day period shall be deemed approval by Landlord. If Landlord disapproves the Schedule, then Landlord shall notify Tenant in writing of its objections to
such Schedule, and the parties shall confer and negotiate in good faith to reach agreement on the Schedule. The Schedule shall be subject to adjustment as mutually agreed upon in writing by the parties, or as provided in this Work Letter.

  
 B-1

 1.3. Tenant’s Architects, Contractors and Consultants. Landlord and Tenant
shall (using good faith efforts) (a) mutually agree upon the selection of the architect, engineer, design team, general contractor (the “General Contractor”) and subcontractors responsible for the construction of the Tenant
Improvements (collectively, the “Project Team”), (b) mutually agree upon (i) key individuals within the Project Team (“Approved Personnel”) and (ii) the percentage of the Approved Personnel’s
time that such Approved Personnel must commit to the construction of the Tenant Improvements and (c) each participate in the review of the competitive bid process. Landlord may refuse to use any architects, consultants, contractors,
subcontractors or material suppliers that Landlord reasonably believes could cause labor disharmony. Landlord may refuse to use the General Contractor if Landlord believes such General Contractor’s Quality Control Program (as defined in
Section 2.6) is insufficient. All Tenant contracts related to the Tenant Improvements shall provide that Tenant may assign such contracts and any warranties with respect to the Tenant Improvements to Landlord and Landlord’s tenants
at any time; provided, however, that the foregoing does not obligate Tenant, in and of itself, to assign any such contracts or warranties to Landlord. 
 2. Tenant Improvements. All Tenant Improvements shall be performed by Tenant’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any
portion of the TI Allowance and in accordance with the Approved Plans (as defined below), the Lease and this Work Letter. To the extent that the total projected cost (as projected by Landlord) of the Base Building Improvements exceeds the Base
Building Allowance (such excess, the “Excess Base Building Costs,” Tenant shall advance to Landlord any Excess Base Building Costs within ten (10) days after receipt of an invoice therefor, but in any case before Tenant
commences the Base Building Improvements. If the actual Excess Base Building Costs are less than the Excess Base Building Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent
obligations, beginning after Landlord has completed the final accounting for the Tenant Improvements. If the actual Excess Base Building Costs at any point during the construction of the Base Building Improvements are or are projected to be more
than the previously estimated Excess Base Building Costs, Tenant shall advance to Landlord any such additional Excess Base Building Costs within ten (10) days after receipt of an invoice therefor. To the extent that the total projected cost (as
projected by Landlord) of the Premises Improvements exceeds the Premises Allowance, and provided that such excess cost is not due to Landlord Delay, (such excess, the “Excess Premises Costs” and together with the Excess Base
Building Costs, the “Excess TI Costs,” Tenant shall pay the costs of the Premises Improvements on a pari passu basis with Landlord as such costs become due, in the proportion of Excess Premises Costs payable by Tenant to the
Premises Allowance. If Tenant fails to pay, or is late in paying, any sum due to Landlord or any third party under this Work Letter, then Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including the
right to interest and the right to assess a late charge), and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent. All material and equipment furnished by Tenant or its contractors as the Tenant
Improvements shall be new or “like new;” the Tenant Improvements shall be performed in a first-class, workmanlike manner; and the quality of the Tenant Improvements shall be of a nature and character not less than the Building Standard.
Tenant shall take, and shall require its contractors to take, commercially reasonable steps to protect the Premises during the performance of any Tenant Improvements, including covering or temporarily removing any window coverings so as to guard
against dust, debris or damage. Any and all amounts associated with remediation of Pre-Existing Hazardous Conditions shall be paid solely by Landlord and shall not be paid out of the TI Allowance or included as Excess TI Costs. 

  
 B-2

 2.1. Base Building Improvements. The Base Building Improvements shall include the
improvements set forth on Schedule 1 attached hereto. All Base Building Improvements shall be subject to Landlord’s approval as set forth in this Work Letter and shall be constructed to a level that is sufficient (as determined by
Landlord) to support the Premises Improvements and Tenant’s other equipment in the Premises. 
 2.2. Work Plans.
Tenant shall prepare and submit to Landlord for approval schematics covering the Tenant Improvements prepared in conformity with the applicable provisions of this Work Letter (the “Draft Schematic Plans”). The Draft Schematic Plans
shall contain sufficient information and detail to accurately describe the proposed design to Landlord and such other information as Landlord may reasonably request. Landlord shall notify Tenant in writing within seven (7) business days after
receipt of the Draft Schematic Plans whether Landlord approves or objects to the Draft Schematic Plans and of the manner, if any, in which the Draft Schematic Plans are unacceptable. Landlord’s failure to respond within such seven
(7) business day period shall be deemed approval by Landlord. If Landlord reasonably objects to the Draft Schematic Plans, then Landlord must provide Tenant, with reasonable specificity, notification of such objections, and Tenant shall revise
the Draft Schematic Plans and cause Landlord’s objections to be remedied in the revised Draft Schematic Plans. Tenant shall then resubmit the revised Draft Schematic Plans to Landlord for approval, such approval not to be unreasonably withheld,
conditioned or delayed. Landlord’s approval of or objection to revised Draft Schematic Plans and Tenant’s correction of the same shall be in accordance with this Section until Landlord has approved the Draft Schematic Plans in writing or
been deemed to have approved them. The iteration of the Draft Schematic Plans that is approved or deemed approved by Landlord without objection shall be referred to herein as the “Approved Schematic Plans.” Subject to
Landlord’s prior written approval (in Landlord’s sole and absolute discretion), Landlord and Tenant may mutually agree to forego the schematic plans stage and move straight to the construction plans stage with respect the Tenant
Improvements, or any portion thereof. 
 2.3. Construction Plans. Tenant shall prepare final plans and specifications for
the Tenant Improvements that (a) are consistent with and are logical evolutions of the Approved Schematic Plans, (b) incorporate any other Tenant-requested (and Landlord-approved) Changes (as defined below) and (c) are complete and
accurate in all material respects. As soon as such final plans and specifications (“Construction Plans”) are completed, Tenant shall deliver the same to Landlord for Landlord’s approval, which approval shall not be unreasonably
withheld, conditioned or delayed; provided, however, that Landlord shall not be deemed unreasonable for disapproving such Construction Plans if Landlord believes such Construction Plans to be incomplete or contain inaccurate information. Such
Construction Plans shall be approved or disapproved by Landlord within seven (7) business days after delivery to Landlord. Landlord’s failure to respond within such seven (7) business day period shall be deemed approval by Landlord.
If the Construction Plans are disapproved by Landlord, then Landlord shall notify Tenant in writing, with reasonable specificity, of its objections to such Construction Plans, and the parties shall confer and negotiate in good faith to reach
agreement on the Construction Plans. Promptly after the Construction Plans are approved by Landlord and Tenant, two (2) copies of such Construction Plans shall be initialed and dated by Landlord and Tenant, and Tenant shall

  
 B-3

 
promptly submit such Construction Plans to all appropriate Governmental Authorities for approval. The Construction Plans so approved, and all change orders specifically permitted by this Work
Letter, are referred to herein as the “Approved Plans.” 
 2.4. Changes to the Tenant Improvements. Any
changes to the Approved Plans (each, a “Change”) shall be requested and instituted in accordance with the provisions of this Article 2 and shall be subject to the written approval of the non-requesting party in accordance
with this Work Letter. 
 (a) Change Request. Either Landlord or Tenant may request Changes after Landlord approves the
Approved Plans by notifying the other party thereof in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent of any requested
Changes, including (a) the Change, (b) the party required to perform the Change and (c) any modification of the Approved Plans and the Schedule, as applicable, necessitated by the Change. If the nature of a Change requires revisions
to the Approved Plans, then the requesting party shall be solely responsible for the cost and expense of such revisions and any increases in the cost of the Tenant Improvements as a result of such Change; provided, however that if Landlord is
the requesting party, Landlord shall only be responsible for any increase in the cost of the Tenant Improvements to the extent the cost of such Change (when added to the then-current Tenant Improvement cost) exceeds the TI Allowance. Change Requests
shall be signed by the requesting party’s Authorized Representative. 
 (b) Approval of Changes. All Change Requests
shall be subject to the other party’s prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed. The non-requesting party shall have five (5) business days after receipt of a Change Request to notify
the requesting party in writing of the non-requesting party’s decision either to approve or object to the Change Request. The non-requesting party’s failure to respond within such five (5) business day period shall be deemed approval
by the non-requesting party. 
 2.5. Preparation of Estimates. Tenant shall, before proceeding with any Change, using its
best efforts, prepare as soon as is reasonably practicable (but in no event more than five (5) business days after delivering a Change Request to Landlord or receipt of a Change Request) an estimate of the increased costs or savings that would
result from such Change, as well as an estimate on such Change’s effects on the Schedule. Landlord shall have five (5) business days after receipt of such information from Tenant to (a) in the case of a Tenant-initiated Change
Request, approve or reject such Change Request in writing, or (b) in the case of a Landlord-initiated Change Request, notify Tenant in writing of Landlord’s decision either to proceed with or abandon the Landlord-initiated Change Request.

 2.6. Quality Control. Tenant shall provide to Landlord in writing the General Contractor’s quality control
program (the “Quality Control Program”), which program shall be specific to the Tenant Improvements and shall be subject to Landlord’s approval. Tenant shall ensure that the General Contractor complies with the Quality Control
Program at all times during the construction of the Tenant Improvements. Tenant shall provide Landlord with reasonable notice of all inspections and meetings relating to the construction of the Tenant Improvements and shall allow Landlord to attend
such meetings. Upon completion of the Tenant 

  
 B-4

 
Improvements, Tenant shall provide Landlord with the quality control log, which shall include all records of quality control meetings and testings and inspections during the construction of the
Tenant Improvements, including inspections relating to concrete, steel roofing, piping pressure testing and system commissioning. 
 3.
Completion of Tenant Improvements. Tenant, at its sole cost and expense (except for the TI Allowance), shall perform and complete the Tenant Improvements in all respects (a) in substantial conformance with the Approved Plans,
(b) otherwise in compliance with provisions of the Lease and this Work Letter and (c) in accordance with Applicable Laws, the requirements of Tenant’s insurance carriers, the requirements of Landlord’s insurance carriers (to the
extent Landlord provides its insurance carriers’ requirements to Tenant) and the board of fire underwriters having jurisdiction over the Premises. The Tenant Improvements shall be deemed completed at such time as Tenant shall furnish to
Landlord (v) evidence satisfactory to Landlord that (i) all Tenant Improvements have been completed and paid for in full (which shall be evidenced by the architect’s certificate of completion and the general contractor’s and each
subcontractor’s and material supplier’s final unconditional waivers and releases of liens, each in a form acceptable to Landlord and complying with Applicable Laws), (ii) all Tenant Improvements have been accepted by Landlord,
(iii) any and all liens related to the Tenant Improvements have either been discharged of record (by payment, bond, order of a court of competent jurisdiction or otherwise) or waived by the party filing such lien and (iv) no security
interests relating to the Tenant Improvements are outstanding, (w) all inspection reports, certifications and approvals with respect to the Tenant Improvements that may be required from any Governmental Authority and any board of fire
underwriters or similar body for the use and occupancy of the Premises, (x) certificates of insurance required by the Lease to be purchased and maintained by Tenant, (y) an affidavit from Tenant’s architect certifying that all work
performed in, on or about the Premises is in accordance with the Approved Plans and (z) complete drawing print sets and electronic CADD files on disc of all contract documents for work performed by their architect and engineers in relation to
the Tenant Improvements. 
 4. Insurance. 
 4.1. Property Insurance. At all times during the period beginning with commencement of construction of the Tenant Improvements and ending with final completion of the Tenant Improvements, Tenant
shall maintain, or cause to be maintained (in addition to the insurance required of Tenant pursuant to the Lease), property insurance insuring Landlord and the Landlord Parties, as their interests may appear. Such policy shall, on a completed values
basis for the full insurable value at all times, insure against loss or damage by fire, vandalism and malicious mischief and other such risks as are customarily covered by the so-called “broad form extended coverage endorsement” upon all
Tenant Improvements and the general contractor’s and any subcontractors’ machinery, tools and equipment, all while each forms a part of, or is contained in, the Tenant Improvements or any temporary structures on the Premises, or is
adjacent thereto; provided that, for the avoidance of doubt, insurance coverage with respect to the general contractor’s and any subcontractors’ machinery, tools and equipment shall be carried on a primary basis by such general
contractor or the applicable subcontractor(s). Tenant agrees to pay any deductible, and Landlord is not responsible for any deductible, for a claim under such insurance. Said property insurance shall contain an express waiver of any right of
subrogation by the insurer against Landlord and the Landlord Parties, and shall name Landlord and its affiliates as loss payees as their interests may appear. 

  
 B-5

 4.2. Workers’ Compensation Insurance. At all times during the period of
construction of the Tenant Improvements, Tenant shall, or shall cause its contractors or subcontractors to, maintain statutory workers’ compensation insurance as required by Applicable Laws. 

5. Liability. Tenant assumes sole responsibility and liability for any and all injuries or the death of any persons, including Tenant’s
contractors and subcontractors and their respective employees, agents and invitees, and for any and all damages to property caused by, resulting from or arising out of any act or omission on the part of Tenant, Tenant’s contractors or
subcontractors, or their respective employees, agents and invitees in the prosecution of the Tenant Improvements. Tenant agrees to indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the
Landlord Indemnitees harmless from and against all Claims due to, because of or arising out of any and all such injuries, death or damage, whether real or alleged, and Tenant and Tenant’s contractors and subcontractors shall assume and defend
at their sole cost and expense all such Claims; provided, however, that nothing contained in this Work Letter shall be deemed to indemnify or otherwise hold Landlord harmless from or against liability caused by Landlord’s
negligence or willful misconduct. Any deficiency in design or construction of the Tenant Improvements shall be solely the responsibility of Tenant, notwithstanding the fact that Landlord may have approved of the same in writing. 

6. TI Allowance. 
 6.1.
Application of TI Allowance. Landlord shall contribute the TI Allowance toward the costs and expenses incurred in connection with the performance of the Tenant Improvements, in accordance with Article 4 of the Lease. If the entire TI
Allowance is not applied toward or reserved for the costs of the Tenant Improvements, then Tenant shall not be entitled to a credit of such unused portion of the TI Allowance. Tenant may apply the TI Allowance for the payment of construction and
other costs in accordance with the terms and provisions of the Lease. 
 6.2. Approval of Budget for the Tenant
Improvements. Notwithstanding anything to the contrary set forth elsewhere in this Work Letter or the Lease, Landlord shall not have any obligation to expend any portion of the TI Allowance until Landlord and Tenant shall have approved in
writing the budget for the Tenant Improvements (the “Approved Budget”). Prior to Landlord’s approval of the Approved Budget, Tenant shall pay all of the costs and expenses incurred in connection with the Tenant Improvements as
they become due. Landlord shall not be obligated to reimburse Tenant for costs or expenses relating to the Tenant Improvements that exceed the amount of the TI Allowance. Landlord shall not unreasonably withhold, condition or delay its approval of
any budget for Tenant Improvements that is proposed by Tenant. 
 6.3. Fund Requests. Upon submission by Tenant to
Landlord of (a) a statement (a “Fund Request”) setting forth the total amount of the TI Allowance or Excess Base Building Costs, if any, requested, (b) a summary of the Tenant Improvements performed using AIA standard form
Application for Payment (G 702) executed by the general contractor and by the architect, (c) invoices from the general contractor, the architect, and any subcontractors, material 

  
 B-6

 
suppliers and other parties requesting payment with respect to the amount of the TI Allowance or Excess Base Building Costs, if any, then being requested, (d) except with respect to the
final Fund Request, conditional lien releases from the general contractor and each subcontractor and material supplier with respect to the Tenant Improvements performed that correspond to the Fund Request each in a form acceptable to Landlord and
complying with Applicable Laws, then Landlord shall, within thirty (30) days following receipt by Landlord of a Fund Request and the accompanying materials required by this Section, pay to the applicable contractors, subcontractors and material
suppliers or to Tenant (for reimbursement for payments made by Tenant prior to Landlord’s approval of the Approved Budget to such contractors, subcontractors or material suppliers), as elected by Landlord, the amount of Tenant Improvement costs
set forth in such Fund Request; provided, however, that Landlord shall not be obligated to make any payments under this Section until the budget for the Tenant Improvements is approved in accordance with Section 6.2 above, and any
Fund Request under this Section shall be subject to the payment limits set forth in Section 6.2 above and Article 4 of the Lease. Within ten (10) days after Tenant’s receipt of the final Fund Request, Tenant shall
deliver to Landlord an unconditional waiver and release of lien upon payment from the general contractor and each subcontractor and material supplier complying with Applicable Laws and in a form acceptable to Landlord. 

7. Miscellaneous. 
 7.1.
Number; Headings. Where applicable in this Work Letter, the singular includes the plural and the masculine or neuter includes the masculine, feminine and neuter. The section headings of this Work Letter are not a part of this Work Letter and
shall have no effect upon the construction or interpretation of any part hereof. 
 7.2. Attorneys’ Fees. If either
party commences an action against the other party arising out of or in connection with this Work Letter, then the substantially prevailing party shall be entitled to have and recover from the other party reasonable attorneys’ fees, charges and
disbursements and costs of suit. 
 7.3. Time of Essence. Time is of the essence with respect to the performance of every
provision of this Work Letter in which time of performance is a factor. 
 7.4. Covenant and Condition. Each provision of
this Work Letter performable by Tenant shall be deemed both a covenant and a condition. 
 7.5. Withholding of Consent.
Whenever consent or approval of either party is required, that party shall not unreasonably withhold, condition or delay such consent or approval, except as may be expressly set forth to the contrary. 

7.6. Invalidity. Any provision of this Work Letter that shall prove to be invalid, void or illegal shall in no way affect, impair
or invalidate any other provision hereof, and all other provisions of this Work Letter shall remain in full force and effect and shall be interpreted as if the invalid, void or illegal provision did not exist. 

  
 B-7

 7.7. Interpretation. The language in all parts of this Work Letter shall be in all
cases construed as a whole according to its fair meaning and not strictly for or against either Landlord or Tenant. 
 7.8.
Successors. Each of the covenants, conditions and agreements herein contained shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs; legatees; devisees; executors; administrators;
and permitted successors, assigns, sublessees. Nothing in this Section shall in any way alter the provisions of the Lease restricting assignment or subletting. 
 7.9. Governing Law. This Work Letter shall be governed by, construed and enforced in accordance with the laws of the state in which the Premises are located, without regard to such state’s
conflict of law principles. 
 7.10. Power and Authority. Tenant guarantees, warrants and represents that the individual
or individuals signing this Work Letter have the power, authority and legal capacity to sign this Work Letter on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other organizations and
entities on whose behalf said individual or individuals have signed. 
 7.11. Counterparts. This Work Letter may be
executed in one or more counterparts, each of which, when taken together, shall constitute one and the same document. 
 7.12.
Amendments; Waiver. No provision of this Work Letter may be modified, amended or supplemented except by an agreement in writing signed by Landlord and Tenant. The waiver by Landlord of any breach by Tenant of any term, covenant or condition
herein contained shall not be deemed to be a waiver of any subsequent breach of the same or any other term, covenant or condition herein contained. 
 7.13. Waiver of Jury Trial. To the extent permitted by Applicable Laws, the parties waive trial by jury in any action, proceeding or counterclaim brought by the other party hereto related to
matters arising out of or in any way connected with this Work Letter; the relationship between Landlord and Tenant; Tenant’s use or occupancy of the Premises; or any claim of injury or damage related to this Work Letter or the Premises.

 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 B-8

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Work Letter to be effective on
the date first above written. 
  

			
	LANDLORD:
	 BMR-FRESH POND RESEARCH PARK LLC,
 a Delaware limited liability company

		
	 By:
	 	 /s/ Kevin M. Simonsen

	 Name:
	 	 Kevin M. Simonsen

	 Title:
	 	 VP, Real Estate Counsel

	
	TENANT:
	 ALNYLAM PHARMACEUTICALS, INC.,
 a Delaware corporation

		
	 By:
	 	 /s/ Michael Mason

	 Name:
	 	 Michael Mason

	 Title:
	 	 Vice President of Finance

  
 B-9

 SCHEDULE 1 TO WORK LETTER 

BASE BUILDING IMPROVEMENTS 
  

	 	•	 	 Tenant shall construct restrooms that comply with Applicable Laws based upon full occupancy of the Premises for the Permitted Use.

  

	 	•	 	 Tenant shall either expand planned restrooms or construct additional restrooms 

 

	 	•	 	 Tenant shall construct structural reinforcing for existing un-reinforced masonry walls where new glazing is installed 

 

	 	•	 	 Tenant shall install structural framing at two (2) levels to support the existing high openings and to create new lower openings

  

	 	•	 	 Tenant shall remove and abate the existing glazing with new glazing infill 

 

	 	•	 	 Tenant shall replace the existing presumed asbestos-containing material glazing with new similar quality fixed or double hung windows

  

	 	•	 	 Tenant shall replace the existing roof 

  

	 	•	 	 Tenant shall make roof insulation and roof deck upgrades as required by Landlord 

 

	 	•	 	 Tenant shall procure and install mechanical systems, including new supply air roof top units and VAV boxes with hot water reheat coil and loop

  

	 	•	 	 Such system shall include an air-cooled chiller, two (2) AHUs sized to support future lab occupancy, exhaust fans, reheat boiler, VAVs, and
distribution ductwork and piping 

  

	 	•	 	 Tenant shall install fire protection water service located within the Building 

 

	 	•	 	 Tenant shall construct the electrical system within the Premises including all branch circuitry and panels for lighting, low voltage and outlets

  

	 	•	 	 Tenant shall modify the existing floor slab to establish a “flat” floor service to support a typical laboratory program

  

	 	•	 	 Tenant shall install stand-by power and all permitting associated with installing a pad or roof mounted generator, including electrical distribution
and gas service 

  

	 	•	 	 Tenant shall perform site work, including excavation and backfill for generator pad, conduits, foundation penetration for conduits and associated
landscape work 

  

	 	•	 	 Tenant shall perform demolition and Building preparation, which shall include removal of existing abandoned equipment, selective demolition of masonry
walls as required, demolition of windows for replacement, and saw cutting the concrete slab for underground plumbing work 

  

	 	•	 	 Tenant shall procure and install concrete, including material for slab-on-grade infill at plumbing trenches, infill of existing under-floor openings,
mechanical housekeeping pads, stand-by generator pad, and slab repair (plus flooring preparation). 

  

	 	•	 	 Tenant shall perform masonry, including repointing of masonry walls and exterior face brick, shear wall reinforcing, infill of existing high-bay
windows and masonry wall reinforcing 

  
 B-10

	 	•	 	 Tenant shall procure and install structural steel and miscellaneous metals, including structural steel for support of rooftop equipment and roof
reinforcement to meet Applicable Laws 

  

	 	•	 	 Tenant shall construct thermal and moisture protections, including removal and replacement of the roof system and edge flashing and flashing for new
roof penetrations. Additionally, a Tenant shall construct full-height gypsum wall board system around the interior perimeter of the Building, including metal studs, insulation, and a vapor barrier to meet Applicable Laws and applicable energy codes.

  

	 	•	 	 Tenant shall perform plumbing work, including sanitary waste, domestic water and natural gas distribution 

 

	 	•	 	 Tenant shall replace existing overhead door at the loading area, loading dock plate and related accessories 

 

	 	•	 	 Tenant shall construct new exterior entries and doors and new windows along the lower level of the east and west masonry walls

  
 B-11

 EXHIBIT C 
 ACKNOWLEDGEMENT OF TERM COMMENCEMENT DATE 
 AND TERM EXPIRATION DATE

 THIS ACKNOWLEDGEMENT OF TERM COMMENCEMENT DATE AND TERM EXPIRATION DATE is entered into as of
[            ], 20[    ], with reference to that certain Lease (the “Lease”) dated as of February 10, 2012, by ALNYLAM PHARMACEUTICALS, INC., a
Delaware corporation (“Tenant”), in favor of BMR-FRESH POND RESEARCH PARK LLC, a Delaware limited liability company (“Landlord”). All capitalized terms used herein without definition shall have the meanings ascribed
to them in the Lease. 
 Tenant hereby confirms the following: 

1. Tenant accepted possession of the Premises on [            ],
20[    ]. 
 2. The Premises are in good order, condition and repair. 

3. The Tenant Improvements are Substantially Complete. 
 4. All conditions of the Lease to be performed by Landlord as a condition to the full effectiveness of the Lease have been satisfied, and Landlord has fulfilled all of its duties in the nature of
inducements offered to Tenant to lease the Premises. 
 5. In accordance with the provisions of Article 4 of the Lease,
the Term Commencement Date is [            ], 20[    ], and, unless the Lease is terminated prior to the Term Expiration Date pursuant to its terms, the Term Expiration
Date shall be [            ], 20[    ]. 
 6.
Tenant commenced occupancy of the Premises for the Permitted Use on [            ], 20[    ]. 
 7. The Lease is in full force and effect, and the same represents the entire agreement between Landlord and Tenant concerning the Premises[, except
[            ]]. 
 8. Tenant has no existing defenses against the
enforcement of the Lease by Landlord, and there exist no offsets or credits against Rent owed or to be owed by Tenant. 

  
 C-1

 9. The obligation to pay Rent is presently in effect and all Rent obligations on the part
of Tenant under the Lease commenced to accrue on [            ], 20[    ], with Base Rent payable on the dates and amounts set forth in the chart below: 

 

																	
	 Dates
	  	Square Feet of
Rentable Area	 	  	Base Rent per
Square Foot of
Rentable Area	 	  	Monthly Base
Rent	 	  	Annual Base
Rent	 
	 Months 1-3
	  	 	15,150	  	  	$	0.00	  	  	$	0.00	  	  	 	N/A	  
	 Months 4-15
	  	 	15,150	  	  	$	32.00 annually	  	  	$	40,400.00	  	  	$	484,800.00	  
	 Months 16-27
	  	 	15,150	  	  	$	32.96 annually	  	  	$	41,612.00	  	  	$	499,344.00	  
	 Months 28-39
	  	 	15,150	  	  	$	33.95 annually	  	  	$	42,861.88	  	  	$	514,342.50	  
	 Months 40-51
	  	 	15,150	  	  	$	34.97 annually	  	  	$	44,149.63	  	  	$	529,795.50	  
	 Months 52-63
	  	 	15,150	  	  	$	36.02 annually	  	  	$	45,475.25	  	  	$	545,703.00	  

 10. The undersigned Tenant has not made any prior assignment, transfer, hypothecation or pledge of the
Lease or of the rents thereunder or sublease of the Premises or any portion thereof. 
 [REMAINDER OF THIS PAGE INTENTIONALLY
LEFT BLANK] 

  
 C-2

 IN WITNESS WHEREOF, Tenant has executed this Acknowledgment of Term Commencement Date and
Term Expiration Date as of the date first written above. 
  

			
	TENANT:
	
	 ALNYLAM PHARMACEUTICALS, INC.,
 a Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 C-3

 EXHIBIT D 
 TENANT MANUAL 
 Fresh Pond 

Tenant Design Manual 
 Updated: January 25, 2012 
  
 

 
 BioMed Realty Trust 
 1 Main Street, Cambridge, MA 02142 
 617-225-2440 

  
 D-1

 TABLE OF CONTENTS 

 

											
	 1. INTENT
	  	 	3	  
		
	 2. TENANT DESIGN CRITERIA – ARCHITECTURE
	  	 	3	  
		 	 2.1
	 	 ACOUSTICAL
	  	 	3	  
		 	 2.2
	 	 VIBRATION
	  	 	3	  
		 	 2.3
	 	 WINDOW TREATMENT
	  	 	3	  
		 	 2.4
	 	 SIGNAGE
	  	 	3	  
		 	 2.5
	 	 SOUND ATTENUATION
	  	 	3	  
		 	 2.6
	 	 ROOFTOP EQUIPMENT
	  	 	3	  
		 	 2.7
	 	 [**]
	  	 	3	  
		 	 2.8
	 	 FLOOR DRAINS
	  	 	4	  
		 	 2.9
	 	 ROOFING AND ENVELOPE ALTERATIONS
	  	 	4	  
		
	 3. TENANT DESIGN CRITERIA - STRUCTURE
	  	 	4	  
		 		 	 3.1.1
	  	 Tenant Loads
	  	 	4	  
		
	 4. TENANT DESIGN CRITERIA - MEP & FP
	  	 	4	  
		 	 4.1
	 	 [**]
	  	 	4	  
		 	 4.2
	 	 ELECTRICAL CRITERIA
	  	 	4	  
		 		 	 4.2.1
	  	 Electrical Acceptance Testing
	  	 	4	  
		 		 	 4.2.2
	  	 Tenant Distribution
	  	 	4	  
		 		 	 4.2.3
	  	 Light Fixtures
	  	 	4	  
		 		 	 4.2.4
	  	 Emergency Lighting, Exit Signs
	  	 	4	  
		 		 	 4.2.5
	  	 Generator, Exhaust Stacks
	  	 	5	  
		 	 4.3
	 	 PLUMBING CRITERIA
	  	 	5	  
		 		 	 4.3.1
	  	 Water Meter
	  	 	5	  
		 		 	 4.3.2
	  	 Gas-fired Water Heater
	  	 	5	  
		 		 	 4.3.3
	  	 Natural Gas Service - Standards
	  	 	5	  
		 	 4.4
	 	 FIRE PROTECTION CRITERIA
	  	 	5	  
		 		 	 4.4.1
	  	 Fire Protection System
	  	 	5	  
		 		 	 4.4.2
	  	 Obligation to Maintain Effectiveness of Sprinkler System
	  	 	6	  
		 		 	 4.4.3
	  	 Fire Dampers
	  	 	6	  
		 		 	 4.4.4
	  	 Fire Detection and Alarm Systems - Tenant Provision
	  	 	6	  
		
	 5. EXHIBIT A:
	  	 	7	  
		 		 	 5.1.1
	  	 [**]
	  	 	7	  

  
 D-2

	1.	INTENT 

 The Tenant Manual is
supplementary to the Lease and must be referenced in conjunction with the Lease. The intent of this document is to describe certain features of the Base Building, assist in the design of Tenant’s Premises and to outline Tenant’s
obligations in performing Tenant Improvement Work. Tenants are encouraged to discuss specific issues or questions regarding their space with the Landlord prior to beginning design work. 

 

	2.	TENANT DESIGN CRITERIA – ARCHITECTURE 

This Section identifies specific design and construction criteria for the tenant’s interior Tenant Improvements. It is the Landlord’s intent to
ensure that Fresh Pond maintains a high quality environment for tenant uses. Due to potential impacts that might affect other building users or neighbors, tenant fit-out and equipment selections must follow the established criteria that are noted
below and be approved by the Landlord in writing. 
  

	 	2.1	ACOUSTICAL 

 Tenants must be responsible
for compliance with current City of Cambridge Noise Ordinances, in particular with reference to exterior roof top equipment. 
  

	 	2.2	VIBRATION 

 Tenant is required to install
vibration isolation equipment for emergency generators and other vibration generating equipment. 
  

	 	2.3	WINDOW TREATMENT 

 All
Tenant window treatment is to be provided by Tenant with vertical blinds - Levelor Louver drape zirlon wheeled system, clear anodized alum head-rail with extruded
3 1/2 PVC blades color: Alabaster. No windows may be
blocked without Landlord’s approval. 
  

	 	2.4	SIGNAGE 

 Tenant signage requires Landlord
approval and must conform to zoning ordinances and building standards. 
  

	 	2.5	SOUND ATTENUATION 

 Tenants must utilize a
sound attenuating generator enclosure, and ensure that the acoustical performance of the generator meets with City of Cambridge Noise Ordinances. 
  

	 	2.6	ROOFTOP EQUIPMENT 

 Equipment must be
located and oriented to provide access for service, not impede access to egress or other tenant’s equipment, and not otherwise create a hazard. All rooftop equipment must be installed in accordance with City of Cambridge rooftop mechanical
equipment standards and of a neutral grey/tan/beige color, subject to review by Landlord’s Architect. 
  

	 	2.7	[**] 

 [**] 

  
 D-3

	 	2.8	FLOOR DRAINS 

 Existing floor drains are
to be maintained free of obstructions at all times. Tenant is to install concrete containment curbs and floor drains at tenant installed hot water heaters or other water source equipment. 

 

	 	2.9	ROOFING AND ENVELOPE ALTERATIONS 

 Any
alterations to the building envelope or roofing systems will require a quality acceptance program and inspection. The work performed and the quality assurance program should be performed in accordance with manufacturer and warranty specifications
and should include project oversight during construction, field quality inspections / reports, design peer review of details. 
  

	 	3.	TENANT DESIGN CRITERIA - STRUCTURE 

  

	 	3.1.1	Tenant Loads 

 All tenant loads in excess
of existing base-building design require Landlord approval. A structural engineer, licensed in the State of Massachusetts, is to provide structural calculations and design for support of excess loads. 

 

	4.	TENANT DESIGN CRITERIA - MEP & FP 

  

	 	4.1	[**] 

 A total of two pages were
omitted and filed separately with the Securities and Exchange Commission. 
  

	 	4.2	ELECTRICAL CRITERIA 

  

	 	4.2.1	Electrical Acceptance Testing 

Upon completion of any alteration to the electrical distribution system, Tenant must submit third party electrical acceptance testing results including IR
scan, Breaker testing and a breaker coordination study stamped by a Commonwealth of Massachusetts licensed electrical engineer. 
  

	 	4.2.2	Tenant Distribution 

 The Tenant must be
responsible for furnishing and installing all Tenant electrical infrastructure and distribution for their equipment (i.e., UPS, generator, etc.) in a linear and consistent configuration. 

 

	 	4.2.3	Light Fixtures 

 Light fixtures within
Tenant space must be furnished and installed by the Tenant and provide a consistent appearance from the exterior of the building. 
  

	 	4.2.4	Emergency Lighting, Exit Signs 

 Emergency
egress lighting and exit signs must be battery operated or tied into emergency power. 

  
 D-4

	 	4.2.5	Generator, Exhaust Stacks 

 Tenants must
ensure that the generator exhaust stacks are sized and located to prevent re-entrainment of generator emissions at all building outside air intakes. Tenant shall be responsible for ensuring that associated designs are consistent with applicable City
guidelines. 
  

	 	4.3	PLUMBING CRITERIA 

  

	 	4.3.1	Water Meter 

 Tenant must install its line
extension with a water meter and electronic readout (connected to the base building DDC system per Landlord’s specifications) easily accessible to Landlord. Sub-meter specifications are to be approved by Landlord. 

 

	 	4.3.2	Gas-fired Water Heater 

 Water heaters may
be natural gas fired, with necessary safety controls and drains per code, based on the Tenant’s water heating needs. Landlord’s written permission for using gas water heaters must be obtained by the Tenant prior to utilizing gas-fired
water heaters. The Tenant must provide gas piping to the water heater from the gas meter, gas flues through roof, and combustion/ventilation air in accordance with code. 
 Drains must be piped to the nearest waste receptor through an approved air gap. All gas-fired water heaters must be approved by and installed in accordance with Massachusetts State Building and Plumbing
Codes. 
  

	 	4.3.3	Natural Gas Service - Standards 

 All gas
plumbing must be Schedule 40 black iron, per Code and base building specification. All contractor work on gas piping to systems must be qualified and licensed by the Commonwealth of Massachusetts. Benchtop natural gas turrets and fume hood natural
gas valves must be press-to-turn locking type, similar to Water-saver, in accordance with Cambridge Fire Department requirements. 
  

	 	4.4	FIRE PROTECTION CRITERIA 

  

	 	4.4.1	Fire Protection System 

 All
modifications, additions, repairs, or relocations to the sprinkler system, or any other system or equipment installed by Landlord which are required for the Tenant’s use prior to occupancy must be performed at the Tenant’s cost and
expense. 
 Plans and calculations must be signed and sealed by a Commonwealth of Massachusetts registered fire protection engineer. 

Tenant must generate a sprinkler shop drawing and supply hydraulic calculations stamped by a Massachusetts registered Fire Protection Engineer.

  
 D-5

	 	4.4.2	Obligation to Maintain Effectiveness of Sprinkler System 

 Tenant’s fixtures, storage, and other Tenant practices must be subject to code and must not be conducted in such a manner as to hinder the effectiveness of the sprinkler or other fire protection
system(s). 
  

	 	4.4.3	Fire Dampers 

 A fire damper must be
installed within Tenant’s ductwork where such duct passes through a fire rated wall, at Tenant’s sole cost. 
  

	 	4.4.4	Fire Detection and Alarm Systems - Tenant Provision 

 Tenant must provide a complete fire alarm system within the leased premises, including but not limited to, all necessary labor, detectors, strobes, horns, wiring, etc. necessary for the satisfactory
operation of a fire alarm system using Landlord selected manufacturer. 
  

	 	1.	Tenant shall tie all fire alarm systems into the existing landlord fire alarm panel. If one is not available then the system should meet owners specifications based on
the site or campus conditions 

  

	 	2.	Upon completion of Tenant fire alarm system, Tenant’s fire alarm contractor must contact Landlord for final point of connection to the fire alarm junction box at
Tenant’s expense. Tenant is responsible for the testing of the expanded system in accordance with NFPA 72 and authority having jurisdiction. 

  

	 	3.	Fire alarm devices must be structurally mounted. 

  

	 	4.	Each Tenant must generate a fire alarm drawing and submit to Landlord. Landlord will forward this drawing to the local fire department. 

 

	 	5.	Class “A” system wires must be identified for direction and polarity. 

 

	 	6.	Current ADA guidelines, including state and local codes, must be followed. 

 

	 	7.	Wiring methods must be in accordance with applicable NEC and NFPA 72 codes. 

 

	 	8.	Provide duct smoke detector; locate inside supply duct, downstream of the filters and ahead of any branch connections, on all systems. In addition, any system over
15,000 CFM must provide duct smoke detectors located inside the return duct, upstream of filters, exhaust air connections or outside air connections. 

  

	 	9.	Smoke detectors must be compatible with the existing fire alarm system. 

  
 D-6

	5.	EXHIBIT A: 

 [**] 

  
 D-7

 EXHIBIT E 
 FORM OF LETTER OF CREDIT 
 [On letterhead or L/C letterhead of
Issuer.] 
 LETTER OF CREDIT 
 Date:             , 200__ 
  

					
	  
	 	(the “Beneficiary”)
	  

	  

	Attention:	 	  

	L/C. No.:	 	  

	Loan No. :	 	  

 Ladies and Gentlemen: 
 We establish in favor of Beneficiary our irrevocable and unconditional Letter of Credit numbered as identified above (the “L/C”) for an aggregate amount of
$            , expiring at     :00 p.m. on              or, if such day is not a Banking Day, then the next
succeeding Banking Day (such date, as extended from time to time, the “Expiry Date”). “Banking Day” means a weekday except a weekday when commercial banks in
             are authorized or required to close. 
 We authorize
Beneficiary to draw on us (the “Issuer”) for the account of              (the “Account Party”), under the terms and conditions of this L/C. 

Funds under this L/C are available by presenting the following documentation (the “Drawing Documentation”): (a) the
original L/C and (b) a sight draft substantially in the form of Attachment 1, with blanks filled in and bracketed items provided as appropriate. No other evidence of authority, certificate, or documentation is required. 

Drawing Documentation must be presented at Issuer’s office at
             on or before the Expiry Date by personal presentation, courier or messenger service, or fax. Presentation by fax shall be effective upon electronic confirmation of transmission
as evidenced by a printed report from the sender’s fax machine. After any fax presentation, but not as a condition to its effectiveness, Beneficiary shall with reasonable promptness deliver the original Drawing Documentation by any other means.
Issuer will on request issue a receipt for Drawing Documentation. 
 We agree, irrevocably, and irrespective of any claim by any
other person, to honor drafts drawn under and in conformity with this L/C, within the maximum amount of this L/C, presented to us on or before the Expiry Date, provided we also receive (on or before the Expiry Date) any other Drawing
Documentation this L/C requires. 

  
 E-1

 We shall pay this L/C only from our own funds by check or wire transfer, in compliance with
the Drawing Documentation. 
 If Beneficiary presents proper Drawing Documentation to us on or before the Expiry Date, then we
shall pay under this L/C at or before the following time (the “Payment Deadline”): (a) if presentment is made at or before noon of any Banking Day, then the close of such Banking Day; and (b) otherwise, the close of the
next Banking Day. We waive any right to delay payment beyond the Payment Deadline. If we determine that Drawing Documentation is not proper, then we shall so advise Beneficiary in writing, specifying all grounds for our determination, within one
Banking Day after the Payment Deadline. 
 Partial drawings are permitted. This L/C shall, except to the extent reduced thereby,
survive any partial drawings. 
 We shall have no duty or right to inquire into the validity of or basis for any draw under this
L/C or any Drawing Documentation. We waive any defense based on fraud or any claim of fraud. 
 The Expiry Date shall
automatically be extended by one year (but never beyond              (the “Outside Date”)) unless, on or before the date 90 days before any Expiry Date, we have given
Beneficiary notice that the Expiry Date shall not be so extended (a “Nonrenewal Notice”). We shall promptly upon request confirm any extension of the Expiry Date under the preceding sentence by issuing an amendment to this L/C, but
such an amendment is not required for the extension to be effective. We need not give any notice of the Outside Date. 

Beneficiary may from time to time without charge transfer this L/C, in whole but not in part, to any transferee (the
“Transferee”). Issuer shall look solely to Account Party for payment of any fee for any transfer of this L/C. Such payment is not a condition to any such transfer. Beneficiary or Transferee shall consummate such transfer by
delivering to Issuer the original of this L/C and a Transfer Notice substantially in the form of Attachment 2, purportedly signed by Beneficiary, and designating Transferee. Issuer shall promptly reissue or amend this L/C in favor of
Transferee as Beneficiary. Upon any transfer, all references to Beneficiary shall automatically refer to Transferee, who may then exercise all rights of Beneficiary. Issuer expressly consents to any transfers made from time to time in compliance
with this paragraph. 
 Any notice to Beneficiary shall be in writing and delivered by hand with receipt acknowledged or by
overnight delivery service such as FedEx (with proof of delivery) at the above address, or such other address as Beneficiary may specify by written notice to Issuer. A copy of any such notice shall also be delivered, as a condition to the
effectiveness of such notice, to:              (or such replacement as Beneficiary designates from time to time by written notice). 

No amendment that adversely affects Beneficiary shall be effective without Beneficiary’s written consent. 

This L/C is subject to and incorporates by reference: (a) the International Standby Practices 98 (“ISP 98”); and
(b) to the extent not inconsistent with ISP 98, Article 5 of the Uniform Commercial Code of the State of New York. 

  
 E-2

 
	
	Very truly yours,
	
	[Issuer Signature]

  
 E-3

 ATTACHMENT 1 TO EXHIBIT E 

FORM OF SIGHT DRAFT 
 [BENEFICIARY LETTERHEAD] 
 TO: 

[Name and Address of Issuer] 

SIGHT DRAFT 
 AT SIGHT,
pay to the Order of                     , the sum of
                    United States Dollars ($        ). Drawn under [Issuer] Letter of Credit No.
                    dated                     .

 [Issuer is hereby directed to pay the proceeds of this Sight Draft solely to the following account:
                    .] 
 [Name and
signature block, with signature or purported signature of Beneficiary] 
 Date:
                     

  
 E-1-1

 ATTACHMENT 2 TO EXHIBIT E 

FORM OF TRANSFER NOTICE 
 [BENEFICIARY LETTERHEAD] 
 TO: 

[Name and Address of Issuer] (the “Issuer”) 
 TRANSFER NOTICE 
 By signing below, the undersigned, Beneficiary (the
“Beneficiary”) under Issuer’s Letter of Credit No.                     dated
                    (the “L/C”), transfers the L/C to the following transferee (the “Transferee”): 

[Transferee Name and Address] 
 The original
L/C is enclosed. Beneficiary directs Issuer to reissue or amend the L/C in favor of Transferee as Beneficiary. Beneficiary represents and warrants that Beneficiary has not transferred, assigned, or encumbered the L/C or any interest in the L/C,
which transfer, assignment, or encumbrance remains in effect. 
 [Name and signature block, with signature or purported signature of
Beneficiary] 
 Date:                     ]

  
 E-2-1

 EXHIBIT F 
 RULES AND REGULATIONS 
 NOTHING IN THESE RULES AND REGULATIONS
(“RULES AND REGULATIONS”) SHALL SUPPLANT ANY PROVISION OF THE LEASE. IN THE EVENT OF A CONFLICT OR INCONSISTENCY BETWEEN THESE RULES AND REGULATIONS AND THE LEASE, THE LEASE SHALL PREVAIL. 

1. Neither Tenant nor Tenant’s employees, agents, contractors or invitees shall encumber or obstruct the common entrances, lobbies, elevators,
sidewalks and stairways of the Building(s) or the Project or use them for any purposes other than ingress or egress to and from the Building(s) or the Project. 
 2. Except as specifically provided in the Lease, no sign, placard, picture, advertisement, name or notice shall be installed or displayed on any part of the outside of the Premises or the Building(s)
without Landlord’s prior written consent. Landlord shall have the right to remove, at Tenant’s sole cost and expense and without notice, any sign installed or displayed in violation of this rule. 

3. If Landlord objects in writing to any curtains, blinds, shades, screens, hanging plants or other objects attached to or used in connection with any
window or door of the Premises or placed on any windowsill, and (a) such window, door or windowsill is visible from the exterior of the Premises and (b) such curtain, blind, shade, screen, hanging plant or other object has not been
approved by Landlord pursuant to Section 12.6 of the Lease, then Tenant shall promptly remove said curtains, blinds, shades, screens, hanging plants or similar objects at its sole cost and expense. 

4. No deliveries shall be made that impede or interfere with other tenants in or the operation of the Project. 

5. Tenant shall not place a load upon any floor of the Premises that exceeds the load per square foot that (a) such floor was designed to carry or
(b) is allowed by Applicable Laws. Fixtures and equipment that cause noises or vibrations that may be transmitted to the structure of the Building(s) to such a degree as to be objectionable to other tenants shall be placed and maintained by
Tenant, at Tenant’s sole cost and expense, on vibration eliminators or other devices sufficient to eliminate such noises and vibrations to levels reasonably acceptable to Landlord and the affected tenants of the Project. 

6. Tenant shall not use any method of heating or air conditioning other than that shown in the Tenant Improvement plans. 

7. Tenant shall not install any radio, television or other antennae; cell or other communications equipment; or other devices on the roof or exterior
walls of the Premises except in accordance with the Lease. Tenant shall not interfere with radio, television or other digital or electronic communications at the Project or elsewhere. 

  
 F-1

 8. Canvassing, peddling, soliciting and distributing handbills or any other written material within, on or
around the Project (other than within the Premises) are prohibited. Tenant shall cooperate with Landlord to prevent such activities by Tenant or its employees, agents, contractors and invitees. 

9. Tenant shall store all of its trash, garbage and Hazardous Materials within its Premises or in receptacles designated by Landlord outside of the
Premises. Tenant shall not place in any such receptacle any material that cannot be disposed of in the ordinary and customary manner of trash, garbage and Hazardous Materials disposal. Any Hazardous Materials transported through Common Areas shall
be held in secondary containment devices. 
 10. The Premises shall not be used for lodging or for any improper, immoral or objectionable
purpose. No cooking shall be done or permitted in the Premises; provided, however, that Tenant may use (a) equipment approved in accordance with the requirements of insurance policies that Landlord or Tenant is required to purchase and
maintain pursuant to the Lease for brewing coffee, tea, hot chocolate and similar beverages, (b) microwave ovens for employees’ use and (c) equipment shown on Tenant Improvement plans approved by Landlord; provided, further,
that any such equipment and microwave ovens are used in accordance with Applicable Laws. 
 11. Tenant shall not, without Landlord’s prior
written consent, use the name of the Project, if any, in connection with or in promoting or advertising Tenant’s business except as Tenant’s address. 
 12. Tenant shall comply with all safety, fire protection and evacuation procedures and regulations established by Landlord or any Governmental Authority. 

13. Tenant assumes any and all responsibility for protecting the Premises from theft, robbery and pilferage, which responsibility includes keeping doors
locked and other means of entry to the Premises closed. 
 14. Tenant shall furnish Landlord with copies of keys, pass cards or similar devices
for locks to the Premises. 
 15. Tenant shall cooperate and participate in all reasonable security programs affecting the Premises. 

16. Tenant shall not permit any animals in the Project, other than for guide animals or for use in laboratory experiments. 

17. Bicycles shall not be taken into the Building(s) except into areas designated by Landlord. 
 18. The water and wash closets and other plumbing fixtures shall not be used for any purposes other than those for which they were constructed, and no sweepings, rubbish, rags or other substances shall be
deposited therein. 
 19. Discharge of industrial sewage shall only be permitted if Tenant, at its sole expense, first obtains all necessary
permits and licenses therefor from all applicable Governmental Authorities. 
 20. Smoking is prohibited at the Project. 

  
 F-2

 21. The Project’s hours of operation are currently 24 hours a day seven days a week. 

22. Tenant shall comply with all orders, requirements and conditions now or hereafter imposed by Applicable Laws or Landlord (“Waste
Regulations”) regarding the collection, sorting, separation and recycling of waste products, garbage, refuse and trash generated by Tenant (collectively, “Waste Products”), including (without limitation) the separation of
Waste Products into receptacles reasonably approved by Landlord and the removal of such receptacles in accordance with any collection schedules prescribed by Waste Regulations. 
 23. Tenant, at Tenant’s sole cost and expense, shall cause the Premises to be exterminated on a monthly basis to Landlord’s reasonable satisfaction and shall cause all portions of the Premises
used for the storage, preparation, service or consumption of food or beverages to be cleaned daily in a manner reasonably satisfactory to Landlord, and to be treated against infestation by insects, rodents and other vermin and pests whenever there
is evidence of any infestation. Tenant shall not permit any person to enter the Premises or the Project for the purpose of providing such extermination services, unless such persons have been approved by Landlord. If requested by Landlord, Tenant
shall, at Tenant’s sole cost and expense, store any refuse generated in the Premises by the consumption of food or beverages in a cold box or similar facility. 
 Landlord may waive any one or more of these Rules and Regulations for the benefit of Tenant or any other tenant, but no such waiver by Landlord shall be construed as a waiver of such Rules and Regulations
in favor of Tenant or any other tenant, nor prevent Landlord from thereafter enforcing any such Rules and Regulations against any or all of the tenants of the Project, including Tenant. These Rules and Regulations are in addition to, and shall not
be construed to in any way modify or amend, in whole or in part, the terms covenants, agreements and conditions of the Lease. Landlord reserves the right to make such other and reasonable rules and regulations as, in its judgment, may from time to
time be needed for safety and security, the care and cleanliness of the Project, or the preservation of good order therein; provided, however, that Tenant shall not be obligated to adhere to such additional rules or regulations until Landlord
has provided Tenant with written notice thereof. Tenant agrees to abide by these Rules and Regulations and any additional rules and regulations issued or adopted by Landlord. Tenant shall be responsible for the observance of these Rules and
Regulations by Tenant’s employees, agents, contractors and invitees. 

  
 F-3

 EXHIBIT G 
 SHUTTLE SERVICE DESCRIPTION 
 The Shuttle bus starts at Alewife and ends at 767C
Concord. 
 It takes approximately 12 minutes to complete a run with an 8 minute return. 

The shuttle runs every 30 minutes. 

Morning Schedule: 7:00 a.m. to 10:30 a.m. 
 Alewife 
 55Wheeler 
 10 Fawcett 
 10 Moulton 
 45 Moulton 
 10 Wilson 
 767 C Concord 
 Afternoon Schedule: 3:00 p.m. to 7:30 p.m. 

767 C Concord 
 10 Wilson 

45 Moulton 
 10 Moulton 

10 Fawcett 
 55Wheeler 

Alewife 
 The shuttle will
not run on the following holidays: New Year’s Day, the day after New Year’s Day, President’s Day, Patriots’ Day, Memorial Day, July 4th, Labor Day, Columbus Day, Thanksgiving and the day after and Christmas Day. 

All times are approximate die to weather and traffic conditions. 

  
 G-1

 EXHIBIT H 
 TENANT’S PERSONAL PROPERTY 
  

									
	 ITEM NAME
	 	DESCRIPTION/Model
#	 	CAPACITY	 	MANUFACTURER	 	Estimated Quantity
	[**]	 	[**]	 		 	[**]	 	[**]

  

	[**]	A total of seven pages were omitted and filed separately with the Securities and Exchange Commission. 

  
 H-1

 EXHIBIT I 
 FORM OF ESTOPPEL CERTIFICATE 
  

	To:	BMR-FRESH POND RESEARCH PARK LLC 

17190 Bernardo Center Drive 
 San Diego, California 92128 
 Attention: Vice President, Real Estate Counsel

 BioMed Realty, L.P. 
 17190 Bernardo Center Drive 
 San Diego, California 92128 

 

	Re:	665 Concord Avenue, Cambridge, Massachusetts (the “Premises”) at 25, 33, 45, 47, 51 and 61 Moulton Street, Cambridge, Massachusetts and 665 Concord
Avenue, Cambridge, Massachusetts (the “Property”) 

 The undersigned tenant (“Tenant”) hereby certifies
to you as follows: 
 1. Tenant is a tenant at the Property under a lease (the “Lease”) for the Premises dated
as of February 10, 2012. The Lease has not been cancelled, modified, assigned, extended or amended [except as follows: [            ]], and there are no other agreements, written or
oral, affecting or relating to Tenant’s lease of the Premises or any other space at the Property. The lease term expires on [            ], 20[    ]. 

2. Tenant took possession of the Premises, currently consisting of
[            ] square feet, on [            ], 20[    ], and commenced to pay rent on
[            ], 20[    ]. Tenant has full possession of the Premises, has not assigned the Lease or sublet any part of the Premises, and does not hold the Premises under
an assignment or sublease[, except as follows: [            ]]. 

3. All base rent, rent escalations and additional rent under the Lease have been paid through
[            ], 20[    ]. There is no prepaid rent[, except $[        ]][, and the amount of security deposit is
$[        ] [in cash][OR][in the form of a letter of credit]]. Tenant currently has no right to any future rent abatement under the Lease. 

4. Base rent is currently payable in the amount of $[        ] per month. 

5. Tenant is currently paying estimated payments of additional rent of $[        ] per month on
account of real estate taxes, insurance, management fees and common area maintenance expenses. 
 6. All work to be performed
for Tenant under the Lease has been performed as required under the Lease and has been accepted by Tenant[, except [            ]], and all allowances to be paid to Tenant, including
allowances for tenant improvements, moving expenses or other items, have been paid. 
 7. The Lease is in full force and effect,
free from default and free from any event that could become a default under the Lease, and Tenant has no claims against the landlord or 

  
 I-1

 
offsets or defenses against rent, and there are no disputes with the landlord. Tenant has received no notice of prior sale, transfer, assignment, hypothecation or pledge of the Lease or of the
rents payable thereunder[, except [            ]]. 
 8. [Tenant has
the following expansion rights or options for the Property: [            ].][OR][Tenant has no rights or options to purchase the Property.] 

9. To Tenant’s knowledge, no hazardous wastes have been generated, treated, stored or disposed of by or on behalf of Tenant in, on
or around the Premises or the Project in violation of any environmental laws. 
 10. The undersigned has executed this Estoppel
Certificate with the knowledge and understanding that [INSERT NAME OF LANDLORD, PURCHASER OR LENDER, AS APPROPRIATE] or its assignee is acquiring the Property in reliance on this certificate and that the undersigned shall be bound by this
certificate. The statements contained herein may be relied upon by [INSERT NAME OF PURCHASER OR LENDER, AS APPROPRIATE], [LANDLORD], BioMed Realty, L.P., BioMed Realty Trust, Inc., and any [other] mortgagee of the Property and their respective
successors and assigns. 
 Any capitalized terms not defined herein shall have the respective meanings given in the Lease.

 Dated this [            ] day of
[            ], 20[    ]. 
  

			
	ALNYLAM PHARMACEUTICALS, INC.,
	a Delaware corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 I-2

 EXHIBIT J 
 CAM POOLS AND MAINTENANCE MATRIX 
 FRESH POND CAM POOL 

The Below CAM pool is the poo| used to account for all expenses 
 PROJECT = Includes all costs associated within the designated campus 
 BUILDING
= Includes all cost associated within the occupied buildings. 
  

							
	 ACCOUNT
	  	 Maintenance responsibility
	  	 	  	 ALNYLAM CAM POOL

	 	  	 Landlord / Tenant
	  	
Tenant pays pro
rata share of project
expenses
	  	
Tenant pays pro rata share of
building expenses

	 Utilities:
	  		  		  	
	 Electricity
	  	Project electricity - Landlord	  	X	  	
	 Electricity
	  	Building electricity - Tenant	  		  	X
	 Gas
	  	Project gas - Landlord	  		  	
	 Gas
	  	Building gas - Tenant	  	X	  	
	 Water
	  	Building water - Tenant	  		  	X
				
	 Maintenance & Repairs
	  		  		  	
				
	 Bulbs
	  	Bonding expense - Tenant	  		  	X
	 Carpet/Floor Repairs
	  	Building expense - Tenant	  		  	X
	 Ceiling Repairs
	  	Building expense - Tenant	  		  	X
	 Computer Service
	  	Building expense - Tenant	  		  	X
	 Electrical Supplies
	  	Building expense - Tenant	  		  	X
	 Electrical Repairs
	  	Building expense - Tenant	  		  	X
	 Environmental Repairs
	  	Building expense - Tenant	  		  	X
	 Equipment Maintenance
	  	Building expense - Tenant	  		  	X
	 Equipment Rental
	  	Building expense - Tenant	  		  	X
	 Equipment Rental
	  	Project expense - Landlord	  	X	  	
	 Exterior Repairs
	  	Project expense - Landlord	  	X	  	X
	 Fire Extinguisher
	  	Building expense - Tenant	  		  	X
	 General Repairs
	  	Project expense - Landlord	  	X	  	
	 General Repairs
	  	Building expense - Tenant	  		  	X
	 Glass Replacement
	  	Building expense - Tenant	  		  	X
	 Key and Keycard Stock
	  	Building expense - Tenant	  		  	X
	 Inspection Fees
	  	Building expense - Tenant	  		  	X
	 Lighting Repairs
	  	Building expense - Tenant	  		  	X
	 Locksmith
	  	Building expense - Tenant	  		  	X
	 Maintenance Supplies
	  	Project expense - Landlord	  	X	  	
	 Maintenance Supplies
	  	Building expense -Tenant	  		  	X
	 Painting
	  	Building expense - Tenant	  		  	X
	 Pest Control
	  	Building expense - Tenant	  		  	X
	 Plumbing Repairs
	  	Building expense - Tenant	  		  	X
	 Plumbing Supplies
	  	Building expense -Tenant	  		  	X
	 Root Repairs
	  	Building expense - Tenant	  		  	X
	 Sign Repairs
	  	Building expense - Tenant	  		  	X
	 Uniforms
	  	Building expense - Tenant	  		  	X

  
 J-1

							
				
	 Janitorial:
	  		  		  	
	 Contracted Service
	  	Building expense - Tenant	  		  	X
	 Power Washing
	  	Building expense - Tenant	  		  	X
	 Window Washing
	  	Building expense - Tenant	  		  	X
				
	 HVAC
	  		  		  	
	 Repairs
	  	Building expense - Tenant	  		  	X
	 Maintenance
	  	Building expense - Tenant	  		  	X
				
	 Elevators:
	  		  		  	
	 Contracted Services
	  	N/A	  		  	
	 Permits/Fees
	  	N/A	  		  	
	 Repairs
	  	N/A	  		  	
				
	 Landscape & Grounds Maintenance:
	  		  		  	
	 Contracted Service
	  	Protect expense - Landlord	  	X	  	
	 Interior Landscaping
	  	Building expense - Tenant	  		  	X
	 Landscaping Repairs
	  	Protect expense - Landlord	  	X	  	
	 Parking Lot Repairs
	  	Project expense - Landlord	  	X	  	
	 Shuttle
	  	Protect expense - Landlord	  	X	  	
	 Trash Removal
	  	Project expense - Landlord	  	X	  	
	 Vehicle Repairs & Maintenance
	  	Project expense - Landlord	  	X	  	
	 Lot and Landscape - Other
	  	Project expense - Landlord	  	X	  	
				
	 Security & Life Safety:
	  		  		  	
	 Contracted Service
	  	Building expense - Tenant	  		  	X
	 Security Supplies
	  	Building expense - Tenant	  		  	X
	 Life Safety Inspections
	  	Building expense - Tenant	  		  	X
	 Security Vehicle
	  	N/A	  		  	
	 Fire & Life Safety - Repairs
	  	Building expense - Tenant	  		  	X
				
	 Property Administrative:
	  		  		  	
	 Cell Phones and Pagers
	  	Protect expense - Landlord	  	X	  	
	 Consultant Fees
	  	Project expense - Landlord	  	X	  	
	 Computer Supplies & Repairs
	  	Protect expense - Landlord	  	X	  	
	 Legal Fees
	  	Protect expense - Landlord	  	X	  	
	 Licenses & permits
	  	Protect expense - Landlord	  	X	  	
	 Office General
	  	Project expense - Landlord	  	X	  	
	 Office Rent
	  	Protect expense - Landlord	  	X	  	
	 Office Supplies
	  	Project expense - Landlord	  	X	  	
				
	 Salaries & Related:
	  		  		  	
	 Administrative Salaries
	  	Project expense - Landlord	  	X	  	
	 Administrative P/R Taxes & Related
	  	Protect expense - Landlord	  	X	  	
	 Maintenance Salaries
	  	Protect expense - Landlord	  	X	  	
	 Maintenance P/R Taxes & Related
	  	Protect expense - Landlord	  	X	  	
	 Temporary Help
	  	Protect expense - Landlord	  	X	  	
				
	 Management:
	  		  		  	
	 Management Fee
	  	Protect expense	  	As per lease	  	
				
	 Taxes:
	  		  		  	
	 Real Property & School
	  	Protect expense - Landlord	  	X	  	
				
	 Insurance:
	  		  		  	
	 Boiler & Machinery Insurance
	  	Project expense - Landlord	  	X	  	
	 DIC Insurance
	  	Protect expense - Landlord	  	X	  	
	 Liability Insurance
	  	Project expense - Landlord	  	X	  	
	 Property Insurance
	  	Project expense - Landlord	  	X	  	
	 Environmental Insurance
	  	Protect expense - Landlord	  	X	  	

  
 J-2

 EXHIBIT K 
 RESERVED PARKING 
  
 

 

  
 K-1Exhibit 4.4

 Exhibit 4.4 
 EMERGENT BIOSOLUTIONS INC. 
 and 

 
  

Trustee 

INDENTURE 

Dated as of                     

 SENIOR DEBT SECURITIES 

 CROSS-REFERENCE TABLE(1) 

 

			
	 Section of Trust Indenture Act of 1939, as amended
	  	Section of
Indenture
	 310(a)
	  	6.09
	 310(b)
	  	6.08
		  	6.10
	 310(c)
	  	Inapplicable
	 311(a)
	  	6.13
	 311(b)
	  	6.13
	 311(c)
	  	Inapplicable
	 312(a)
	  	4.01
 4.04

	 312(b)
	  	4.04(c)
	 312(c)
	  	4.04(c)
	 313(a)
	  	4.03
	 313(b)
	  	4.03
	 313(c)
	  	4.03
	 313(d)
	  	4.03
	 314(a)
	  	4.02
	 314(b)
	  	Inapplicable
	 314(c)
	  	2.04
 8.04
 9.01(c)
 10.01(b)
 11.05

	 314(d)
	  	Inapplicable
	 314(e)
	  	11.05
	 314(f)
	  	Inapplicable
	 315(a)
	  	6.01
 6.02

	 315(b)
	  	5.11
	 315(c)
	  	6.01
	 315(d)
	  	6.01
		  	6.02
	 315(e)
	  	5.12
	 316(a)
	  	5.09
 5.10

		  	7.04
	 316(b)
	  	5.06
 5.10

	 316(c)
	  	7.02
	 317(a)
	  	5.04
	 317(b)
	  	3.04
	 318(a)
	  	11.07

  

	(1)	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.

 TABLE OF CONTENTS 

 

							
	 	  	 	  	PAGE	 
		
	 ARTICLE 1    DEFINITIONS
	  	 	1	  
	 Section 1.01
	  	 Certain Terms Defined
	  	 	1	  
		
	 ARTICLE 2    SECURITIES
	  	 	5	  
	 Section 2.01
	  	 Forms Generally
	  	 	5	  
	 Section 2.02
	  	 Form of Trustee’s Certificate of Authentication
	  	 	6	  
	 Section 2.03
	  	 Amount Unlimited; Issuable in Series
	  	 	6	  
	 Section 2.04
	  	 Authentication and Delivery of Securities
	  	 	8	  
	 Section 2.05
	  	 Execution of Securities
	  	 	10	  
	 Section 2.06
	  	 Certificate of Authentication
	  	 	10	  
	 Section 2.07
	  	 Denomination and Date of Securities; Payments of Interest
	  	 	10	  
	 Section 2.08
	  	 Registration, Transfer and Exchange
	  	 	11	  
	 Section 2.09
	  	 Mutilated, Defaced, Destroyed, Lost and Stolen Securities
	  	 	13	  
	 Section 2.10
	  	 Cancellation of Securities; Destruction Thereof
	  	 	14	  
	 Section 2.11
	  	 Temporary Securities
	  	 	14	  
		
	 ARTICLE 3    COVENANTS OF THE ISSUER
	  	 	15	  
	 Section 3.01
	  	 Payment of Principal and Interest
	  	 	15	  
	 Section 3.02
	  	 Offices for Payments, Etc
	  	 	15	  
	 Section 3.03
	  	 Appointment to Fill a Vacancy in Office of Trustee
	  	 	15	  
	 Section 3.04
	  	 Paying Agents
	  	 	16	  
	 Section 3.05
	  	 Written Statement to Trustee
	  	 	16	  
		
	 ARTICLE 4    SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE
	  	 	17	  
	 Section 4.01
	  	 Issuer to Furnish Trustee Information as to Names and Addresses of Securityholders
	  	 	17	  
	 Section 4.02
	  	 Reports by the Issuer
	  	 	17	  
	 Section 4.03
	  	 Reports by the Trustee
	  	 	17	  
	 Section 4.04
	  	 Preservation of Information; Communication with Securityholders
	  	 	17	  
		
	 ARTICLE 5    REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	  	 	18	  
	 Section 5.01
	  	 Event of Default Defined; Acceleration of Maturity; Waiver of Default
	  	 	18	  
	 Section 5.02
	  	 Collection of Debt by Trustee; Trustee May Prove Debt
	  	 	20	  
	 Section 5.03
	  	 Application of Proceeds
	  	 	22	  
	 Section 5.04
	  	 Suits for Enforcement
	  	 	22	  
	 Section 5.05
	  	 Restoration of Rights on Abandonment of Proceedings
	  	 	23	  
	 Section 5.06
	  	 Limitations on Suits by Securityholders
	  	 	23	  
	 Section 5.07
	  	 Unconditional Right of Securityholders to Institute Certain Suits
	  	 	23	  

  
 i 

							
	 Section 5.08
	  	 Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default
	  	 	24	  
	 Section 5.09
	  	 Control by Holders of Securities
	  	 	24	  
	 Section 5.10
	  	 Waiver of Past Defaults
	  	 	25	  
	 Section 5.11
	  	 Trustee to Give Notice of Default
	  	 	25	  
	 Section 5.12
	  	 Right of Court to Require Filing of Undertaking to Pay Costs
	  	 	25	  
		
	 ARTICLE 6    CONCERNING THE TRUSTEE
	  	 	26	  
	 Section 6.01
	  	 Duties and Responsibilities of the Trustee; During Default; Prior to Default
	  	 	26	  
	 Section 6.02
	  	 Certain Rights of the Trustee
	  	 	26	  
	 Section 6.03
	  	 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof
	  	 	27	  
	 Section 6.04
	  	 Trustee and Agents May Hold Securities; Collections, Etc
	  	 	28	  
	 Section 6.05
	  	 Moneys Held by Trustee
	  	 	28	  
	 Section 6.06
	  	 Compensation and Indemnification of Trustee and Its Prior Claim
	  	 	28	  
	 Section 6.07
	  	 Right of Trustee to Rely on Officer’s Certificate, Etc
	  	 	28	  
	 Section 6.08
	  	 Disqualification; Conflicting Interests
	  	 	29	  
	 Section 6.09
	  	 Persons Eligible for Appointment as Trustee
	  	 	29	  
	 Section 6.10
	  	 Resignation and Removal; Appointment of Successor Trustee
	  	 	29	  
	 Section 6.11
	  	 Acceptance of Appointment by Successor Trustee
	  	 	30	  
	 Section 6.12
	  	 Merger, Conversion, Consolidation or Succession to Business of Trustee
	  	 	31	  
	 Section 6.13
	  	 Preferential Collection of Claims Against the Issuer
	  	 	32	  
		
	 ARTICLE 7    CONCERNING THE SECURITYHOLDERS
	  	 	32	  
	 Section 7.01
	  	 Evidence of Action Taken by Securityholders
	  	 	32	  
	 Section 7.02
	  	 Proof of Execution of Instruments and of Holding of Securities
	  	 	32	  
	 Section 7.03
	  	 Holders to Be Treated as Owners
	  	 	32	  
	 Section 7.04
	  	 Securities Owned by Issuer Deemed Not Outstanding
	  	 	32	  
	 Section 7.05
	  	 Right of Revocation of Action Taken
	  	 	33	  
		
	 ARTICLE 8    SUPPLEMENTAL INDENTURES
	  	 	33	  
	 Section 8.01
	  	 Supplemental Indentures Without Consent of Securityholders
	  	 	33	  
	 Section 8.02
	  	 Supplemental Indentures With Consent of Securityholders
	  	 	35	  
	 Section 8.03
	  	 Effect of Supplemental Indenture
	  	 	36	  
	 Section 8.04
	  	 Documents to Be Given to Trustee
	  	 	36	  
	 Section 8.05
	  	 Notation on Securities in Respect of Supplemental Indentures
	  	 	36	  
		
	 ARTICLE 9    CONSOLIDATION, MERGER, SALE OR CONVEYANCE
	  	 	36	  
	 Section 9.01
	  	 Issuer May Consolidate, Etc., on Certain Terms
	  	 	36	  
	 Section 9.02
	  	 Successor Issuer Substituted
	  	 	37	  
		
	 ARTICLE 10    SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED
MONEYS
	  	 	38	  
	 Section 10.01
	  	 Satisfaction and Discharge of Indenture; Defeasance
	  	 	38	  

  
 ii 

							
	 Section 10.02
	  	 Application by Trustee of Funds Deposited for Payment of Securities
	  	 	41	  
	 Section 10.03
	  	 Repayment of Moneys Held by Paying Agent
	  	 	41	  
	 Section 10.04
	  	 Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years
	  	 	42	  
	 Section 10.05
	  	 Indemnity for U.S. Government Obligations
	  	 	42	  
		
	 ARTICLE 11    MISCELLANEOUS PROVISIONS
	  	 	42	  
	 Section 11.01
	  	 No Recourse
	  	 	42	  
	 Section 11.02
	  	 Provisions of Indenture for the Sole Benefit of Parties and Holders of Securities
	  	 	42	  
	 Section 11.03
	  	 Successors and Assigns of Issuer Bound by Indenture
	  	 	43	  
	 Section 11.04
	  	 Notices and Demands on Issuer, Trustee and Holders of Securities
	  	 	43	  
	 Section 11.05
	  	 Officer’s Certificates and Opinions of Counsel; Statements to Be Contained Therein
	  	 	43	  
	 Section 11.06
	  	 Payments Due on Saturdays, Sundays and Holidays
	  	 	44	  
	 Section 11.07
	  	 Conflict of Any Provision of Indenture With Trust Indenture Act of 1939
	  	 	45	  
	 Section 11.08
	  	 New York Law to Govern
	  	 	45	  
	 Section 11.09
	  	 Counterparts
	  	 	45	  
	 Section 11.10
	  	 Effect of Headings
	  	 	45	  
	 Section 11.11
	  	 Actions by Successor
	  	 	45	  
	 Section 11.12
	  	 Severability
	  	 	45	  
		
	 ARTICLE 12    REDEMPTION OF SECURITIES AND SINKING FUNDS
	  	 	45	  
	 Section 12.01
	  	 Applicability of Article
	  	 	45	  
	 Section 12.02
	  	 Notice of Redemption; Partial Redemptions
	  	 	45	  
	 Section 12.03
	  	 Payment of Securities Called for Redemption
	  	 	47	  
	 Section 12.04
	  	 Exclusion of Certain Securities from Eligibility for Selection for Redemption
	  	 	47	  
	 Section 12.05
	  	 Mandatory and Optional Sinking Funds
	  	 	47	  

  
 iii

 THIS INDENTURE, dated as of
                     between Emergent BioSolutions Inc., a Delaware corporation (the “Issuer”), and
            , a          (the “Trustee”), 
 W I T N E S S E T H : 
 WHEREAS, the Issuer may from time to time duly authorize
the issue of its unsecured debentures, notes or other evidences of indebtedness to be issued in one or more series (the “Securities”) up to such principal amount or amounts as may from time to time be authorized in accordance with
the terms of this Indenture; 
 WHEREAS, the Issuer has duly authorized the execution and delivery of this Indenture to provide,
among other things, for the authentication, delivery and administration of the Securities; and 
 WHEREAS, all things necessary
to make this Indenture a valid indenture and agreement according to its terms have been done; 
 NOW, THEREFORE: 

In consideration of the premises and the purchases of the Securities by the holders thereof, the Issuer and the Trustee mutually covenant
and agree for the equal and proportionate benefit of the respective holders from time to time of the Securities as follows: 

ARTICLE 1 

DEFINITIONS 

Section 1.01 Certain Terms Defined. The following terms (except as otherwise expressly provided or unless the context
otherwise clearly requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section. All other terms used in this Indenture that are defined in the Trust Indenture Act
of 1939 or the definitions of which in the Securities Act of 1933 are referred to in the Trust Indenture Act of 1939, including terms defined therein by reference to the Securities Act of 1933 (except as herein otherwise expressly provided or unless
the context otherwise clearly requires), shall have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act as in force at the date of this Indenture. All accounting terms used herein and not expressly defined
shall have the meanings assigned to such terms in accordance with generally accepted accounting principles, and the term “generally accepted accounting principles” means such accounting principles as are generally accepted in the
United States at the time of any computation. The words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other
subdivision. The terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular. 
 “Board of Directors” means either the Board of Directors of the Issuer or any committee of such Board duly authorized to act on its behalf. 

 “Board Resolution” means a copy of one or more resolutions, certified by
the secretary or an assistant secretary of the Issuer to have been duly adopted by the Board of Directors and to be in full force and effect, and delivered to the Trustee. 
 “Business Day” means, with respect to any Security, a day that in the city (or in any of the cities, if more than one) in which amounts are payable, as specified in the form of such
Security, is not a day on which banking institutions are authorized or required by law or regulation to close. 

“Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the
Securities Exchange Act of 1934, or if at any time after the execution and delivery of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act of 1939, then the body performing such
duties on such date. 
 “Common Stock” means shares of common stock, par value $0.001 per share, of the Issuer
as the same exists at the date of execution and delivery of this Indenture or as such stock may be reconstituted from time to time. 
 “Corporate Trust Office” means the office of the Trustee at which the corporate trust business of the Trustee shall, at any particular time, be principally administered, which office is,
at the date as of which this Indenture is dated, located at                     . 

“Debt” of any Person means any debt for money borrowed which is created, assumed, incurred or guaranteed in any manner
by such Person or for which such Person is otherwise responsible or liable, and shall expressly include any such guaranty thereof by such Person. For the purpose of computing the amount of the Debt of any Person there shall be excluded all Debt of
such Person for the payment or redemption or satisfaction of which money or securities (or evidences of such Debt, if permitted under the terms of the instrument creating such Debt) in the necessary amount shall have been deposited in trust with the
proper depositary, whether upon or prior to the maturity or the date fixed for redemption of such Debt; and, in any instance where Debt is so excluded, for the purpose of computing the assets of such Person there shall be excluded the money,
securities or evidences of Debt deposited by such Person in trust for the purpose of paying or satisfying such Debt. 

“Depositary” means, with respect to the Securities of any series issuable or issued in the form of one or more Global
Securities, the Person designated as Depositary by the Issuer pursuant to Section 2.04 until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Depositary”
shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to the Securities of any such series shall mean the Depositary with
respect to the Global Securities of that series. 
 “Dollar” means the currency of the United States of America
as at the time of payment is legal tender for the payment of public and private debts. 
 “Event of Default”
means any event or condition specified as such in Section 5.01. 

  
 2 

 “Foreign Currency” means a currency issued by the government of a country
other than the United States. 
 “Global Security”, means a Security evidencing all or a part of a series of
Securities, issued to the Depositary for such series in accordance with Section 2.04, and bearing the legend prescribed in Section 2.04. 
 “Holder”, “holder”, “holder of Securities”, “Securityholder” or other similar terms mean the Person in whose name such Security is
registered in the Security register kept by the Issuer for that purpose in accordance with the terms hereof. 

“Indenture” means this instrument as originally executed and delivered or, if amended or supplemented as herein
provided, as so amended or supplemented or both, and shall include the forms and terms of particular series of Securities established as contemplated hereunder. 
 “interest”, unless the context otherwise requires, refers to interest, and when used with respect to non-interest bearing Securities, refers to interest payable after maturity, if any.

 “Issuer” means Emergent BioSolutions Inc., a Delaware corporation, and, subject to Article 9, its successors
and assigns. 
 “Issuer Order” means a written statement, request or order of the Issuer signed in its name by
the chairman of the Board of Directors, the president or any vice president of the Issuer. 
 “Notice of
Default” shall have the meaning set forth in Section 5.01(c). 
 “Officer’s Certificate”
means a certificate signed by the chairman of the Board of Directors, the president, any vice president, the treasurer, the secretary or any assistant secretary of the Issuer and delivered to the Trustee. Each such certificate shall comply with
Section 314 of the Trust Indenture Act of 1939 and, except to the extent provided herein, shall include the statements provided for in Section 11.05. 
 “Opinion of Counsel” means an opinion in writing signed by the general corporate counsel or such other legal counsel who may be an employee of or counsel to the Issuer and who shall be
satisfactory to the Trustee. Each such opinion shall comply with Section 314 of the Trust Indenture Act of 1939 and shall include the statements provided for in Section 11.05, if and to the extent required hereby. 

“original issue date” of any Security (or portion thereof) means the earlier of (a) the date of such Security or
(b) the date of any Security (or portion thereof) for which such Security was issued (directly or indirectly) on registration of transfer, exchange or substitution. 
 “Original Issue Discount Security” means any Security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the
maturity thereof pursuant to Section 5.01. 

  
 3 

 “Outstanding”, when used with reference to Securities, shall, subject to
the provisions of Section 7.04, mean, as of any particular time, all Securities authenticated and delivered by the Trustee under this Indenture, except 
 (a) Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
 (b) Securities, or portions thereof, for the payment or redemption of which cash or U.S. Government Obligations (as provided for in Section 10.01 (a) and Section 10.01(b)) in the necessary
amount shall have been deposited in trust with the Trustee or with any paying agent (other than the Issuer) or shall have been set aside, segregated and held in trust by the Issuer for the Holders of such Securities (if the Issuer shall act as its
own paying agent); provided, that if such Securities, or portions thereof, are to be redeemed prior to the maturity thereof, notice of such redemption shall have been given as herein provided, or provision satisfactory to the Trustee shall
have been made for giving such notice; and 
 (c) Securities in substitution for which other Securities shall
have been authenticated and delivered, or which shall have been paid, pursuant to the terms of Section 2.09 (except with respect to any such Security as to which proof satisfactory to the Trustee is presented that such Security is held by a
Person in whose hands such Security is a legal, valid and binding obligation of the Issuer), Securities converted into Common Stock pursuant hereto and Securities not deemed outstanding pursuant to Section 12.02. 

In determining whether the Holders of the requisite principal amount of Outstanding Securities of any or all series have given any
request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding for such purposes shall be the amount of the principal thereof that
would be due and payable as of the date of such determination upon a declaration of acceleration of the maturity thereof pursuant to Section 5.01. 
 “Person” means any individual, corporation, partnership, limited partnership, limited liability company, joint venture, association, joint stock company, trust, unincorporated
organization or government or any agency or political subdivision thereof. 
 “principal” whenever used with
reference to the Securities or any Security or any portion thereof, shall be deemed to include “and premium, if any”. 

“record date” shall have the meaning set forth in Section 2.07. 

“Responsible Officer”, when used with respect to the Trustee, means the chairman of the board of directors, any vice
chairman of the board of directors, the chairman of the trust committee, the chairman of the executive committee, any vice chairman of the executive committee, the president, any vice president, the cashier, the secretary, the treasurer, any trust
officer, any assistant trust officer, any assistant vice president, any assistant cashier, any assistant secretary, any assistant treasurer, or any other officer or assistant officer of the Trustee customarily performing functions similar to those
performed by the persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with the particular subject. 

  
 4 

 “Security” or “Securities” has the meaning stated in the
first recital of this Indenture, or, as the case may be, Securities that have been authenticated and delivered under this Indenture. 
 “Security Registrar” shall have the meaning set forth in Section 4.01(b). 
 “Subsidiary” means a corporation of which stock having a majority of the voting power under ordinary circumstances is owned, directly or indirectly, by the Issuer or by one or more
subsidiaries of the Issuer, or by the Issuer and one or more subsidiaries of the Issuer. 
 “Trust Indenture Act of
1939” (except as otherwise provided in Sections 8.01 and 8.02) means the Trust Indenture Act of 1939 as in force at the date as of which this Indenture was originally executed. 

“Trustee” means the Person identified as “Trustee” in the first paragraph hereof and, subject to the
provisions of Article 6, shall also include any successor trustee. “Trustee” shall also mean or include each Person who is then a trustee hereunder and if at any time there is more than one such Person, “Trustee” as
used with respect to the Securities of any series shall mean the trustee with respect to the Securities of such series. 

“U.S. Government Obligation” means (a) a direct obligation of the United States of America, backed by its full
faith and credit, or (b) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America, the payment of which is unconditionally guaranteed as a full faith and credit obligation
by the United States of America. 
 “vice president”, when used with respect to the Issuer or the Trustee,
means any vice president, whether or not designated by a number or a word or words added before or after the title of “vice president”. 
 “Yield to Maturity” means the yield to maturity on a series of securities, calculated at the time of issuance of such series, or, if applicable, at the most recent redetermination of
interest on such series, and calculated in accordance with accepted financial practice. 
 ARTICLE 2 

SECURITIES 

Section 2.01 Forms Generally. The Securities of each series shall be substantially in such form (not inconsistent with this
Indenture) as shall be established by or pursuant to one or more Board Resolutions (as set forth in a Board Resolution or, to the extent established pursuant to (rather than set forth in) a Board Resolution, an Officer’s Certificate detailing
such establishment) or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture and may have imprinted or otherwise
reproduced thereon such legend or legends or endorsements, not inconsistent with the provisions of this Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto, or with any rules of any securities
exchange or to conform to general usage, all as may be determined by the officers executing such Securities as evidenced by their execution of such Securities. 

  
 5 

 The definitive Securities shall be printed, lithographed or engraved on steel engraved
borders or may be produced in any other manner, all as determined by the officers executing such Securities as evidenced by their execution of such Securities. 
 Section 2.02 Form of Trustee’s Certificate of Authentication. The Trustee’s certificate of authentication on all Securities shall be in substantially the following form: 

This is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 

 

			
	  

	as Trustee
		
	By:	 	  

		 	Authorized Officer

 Section 2.03 Amount Unlimited; Issuable in Series. The aggregate principal
amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 
 The Securities may be issued
in one or more series. The terms of a series of Securities shall be established prior to the initial issuance thereof in or pursuant to one or more Board Resolutions, or, to the extent established pursuant to (rather than set forth in) a Board
Resolution, in an Officer’s Certificate detailing such establishment and/or established in one or more indentures supplemental hereto. The terms of such series reflected in such Board Resolution, Officer’s Certificate, or supplemental
indenture may include the following or any additional or different terms: 
 (a) the designation of the
Securities of the series (which may be part of a series of Securities previously issued); 
 (b) the terms and
conditions, if applicable, upon which conversion or exchange of the Securities into Common Stock will be effected, including the initial conversion or exchange price or rate and any adjustments thereto, the conversion or exchange period and other
provisions in addition to or in lieu of those described herein; 
 (c) any limit upon the aggregate principal
amount of the Securities of the series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the
series pursuant to Section 2.08, 2.09, 2.11, 8.05 or 12.03); 
 (d) if other than Dollars, the Foreign
Currency in which the Securities of that series are denominated; 

  
 6 

 (e) any date on which the principal of the Securities of the series is
payable and the right, if any, to extend such date or dates; 
 (f) the rate or rates at which the Securities of
the series shall bear interest, if any, the record date or dates for the determination of holders to whom interest is payable, the date or dates from which such interest shall accrue and on which such interest shall be payable and/or the method by
which such rate or rates or date or dates shall be determined, and the right, if any, to extend the interest payment periods and the duration of that extension; 
 (g) the place or places where the principal of and any interest on Securities of the series shall be payable (if other than as provided in Section 3.02); 

(h) the price or prices at which, the period or periods within which and the terms and conditions upon which Securities of
the series may be redeemed, in whole or in part, at the option of the Issuer, pursuant to any sinking fund or otherwise; 
 (i) the obligation, if any, of the Issuer to redeem, purchase or repay Securities of the series pursuant to any mandatory redemption, sinking fund or analogous provisions or at the option of a Holder
thereof and the price or prices at which and the period or periods within which and any terms and conditions upon which Securities of the series shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation; 

(j) if other than denominations of $1,000 and any integral multiple thereof, the denominations in which Securities of the
series shall be issuable; 
 (k) if other than the principal amount thereof, the portion of the principal amount
of Securities of the series which shall be payable upon declaration of acceleration of the maturity thereof; 

(l) if other than the currency in which the Securities of that series are denominated, the currency in which payment of
the principal of or interest on the Securities of such series shall be payable; 
 (m) if the principal of or
interest on the Securities of the series is to be payable, at the election of the Issuer or a Holder thereof, in a currency other than that in which the Securities are denominated, the period or periods within which, and the terms and conditions
upon which, such election may be made; 
 (n) if the amount of payments of principal of and interest on the
Securities of the series may be determined with reference to an index based on a currency other than that in which the Securities of the series are denominated, or by reference to one or more currency exchange rates, securities or baskets of
securities, commodity prices or indices, the manner in which such amounts shall be determined; 
 (o) if Sections
10.01(b) or 10.01(c) are inapplicable to Securities of such series; 

  
 7 

 (p) whether and under what circumstances the Issuer will pay additional
amounts on the Securities of any series in respect of any tax, assessment or governmental charge withheld or deducted and, if so, whether the Issuer will have the option to redeem such Securities rather than pay such additional amounts; 

(q) if the Securities of such series are to be issuable in definitive form (whether upon original issue or upon exchange
of a temporary Security of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and terms of such certificates, documents or conditions; 

(r) any trustees, authenticating or paying agents, transfer agents or registrars or any other agents with respect to the
Securities of such series; 
 (s) any other events of default or covenants with respect to the Securities of such
series in addition to or in lieu of those contained in this Indenture; 
 (t) if the Securities of the series may
be issued in exchange for surrendered Securities of another series, or for other securities of the Issuer, pursuant to the terms of such Securities or securities or of any agreement entered into by the Issuer, the ratio of the principal amount of
the Securities of the series to be issued to the principal amount of the Securities or securities to be surrendered in exchange, and any other material terms of the exchange; and 

(u) any other terms of the series. 
 The Issuer may from time to time, without notice to or the consent of the holders of any series of Securities, create and issue further Securities of any such series ranking equally with the Securities of
such series in all respects (or in all respects other than (1) the payment of interest accruing prior to the issue date of such further Securities or (2) the first payment of interest following the issue date of such further Securities).
Such further Securities may be consolidated and form a single series with the Securities of such series and have the same terms as to status, redemption or otherwise as the Securities of such series. 

Section 2.04 Authentication and Delivery of Securities. The Issuer may deliver Securities of any series executed by the
Issuer to the Trustee for authentication together with the applicable documents referred to below in this Section, and the Trustee shall thereupon authenticate and deliver such Securities to or upon the order of the Issuer (contained in the Issuer
Order referred to below in this Section) or pursuant to such procedures acceptable to the Trustee and to such recipients as may be specified from time to time by an Issuer Order. The maturity date, original issue date, interest rate and any other
terms of the Securities of such series shall be determined by or pursuant to such Issuer Order and procedures. If provided for in such procedures, such Issuer Order may authorize authentication and delivery pursuant to oral instructions from the
Issuer or its duly authorized agent, which instructions shall be promptly confirmed in writing. In authenticating such Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive, and (subject to Section 6.01) shall be fully protected in relying upon: 
 (a) an
Issuer Order requesting such authentication and setting forth delivery instructions if the Securities are not to be delivered to the Issuer; 

  
 8 

 (b) any Board Resolution, Officer’s Certificate and/or executed
supplemental indenture referred to in Sections 2.01 and 2.03 by or pursuant to which the forms and terms of the Securities were established; 
 (c) an Officer’s Certificate setting forth the form or forms and terms of the Securities stating that the form or forms and terms of the Securities have been established pursuant to Sections 2.01 and
2.03 and comply with this Indenture, and covering such other matters as the Trustee may reasonably request; and 

(d) an Opinion of Counsel to the effect that: 

(i) the form or forms and terms of such Securities have been established pursuant to Sections 2.01 and 2.03 and comply
with this Indenture, 
 (ii) the authentication and delivery of such Securities by the Trustee are authorized
under the provisions of this Indenture, 
 (iii) such Securities when authenticated and delivered by the Trustee
and issued by the Issuer in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Issuer, and 

(iv) all laws and requirements in respect of the execution and delivery by the Issuer of the Securities have been complied
with, 
 and covering such other matters as the Trustee may reasonably request. 

The Trustee shall have the right to decline to authenticate and deliver any Securities under this Section if the Trustee, being advised
by counsel, determines that such action may not lawfully be taken by the Issuer or if the Trustee in good faith by its board of directors or board of trustees, executive committee, or a trust committee of directors or trustees or Responsible
Officers shall determine that such action would expose the Trustee to personal liability to existing Holders or would affect the Trustee’s own rights, duties or immunities under the Securities, this Indenture or otherwise. 

The Issuer shall execute and the Trustee shall, in accordance with this Section with respect to the Securities of a series, authenticate
and deliver one or more Global Securities that (i) shall represent and shall be denominated in an amount equal to the aggregate principal amount of all of the Securities of such series issued and not yet cancelled, (ii) shall be registered
in the name of the Depositary for such Global Security or Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instructions and (iv) shall bear a
legend substantially to the following effect: “Unless and until it is exchanged in whole or in part for Securities in definitive registered form, this Security may not be transferred except as a whole by the Depositary to the nominee of the
Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.” 

  
 9 

 Each Depositary designated pursuant to this Section must, at the time of its designation and
at all times while it serves as Depositary, be a clearing agency registered under the Securities Exchange Act of 1934 and any other applicable statute or regulation. 
 Section 2.05 Execution of Securities. The Securities shall be signed on behalf of the Issuer by the chairman of its Board of Directors, any vice chairman of its Board of Directors, its chief
executive officer, its principal financial officer, its president, any vice president or its treasurer. Such signatures may be the manual or facsimile signatures of the present or any future such officers. Typographical and other minor errors or
defects in any such reproduction of any such signature shall not affect the validity or enforceability of any Security that has been duly authenticated and delivered by the Trustee. 

In case any officer of the Issuer who shall have signed any of the Securities shall cease to be such officer before the Security so
signed shall be authenticated and delivered by the Trustee or disposed of by the Issuer, such Security nevertheless may be authenticated and delivered or disposed of as though the person who signed such Security had not ceased to be such officer of
the Issuer; and any Security may be signed on behalf of the Issuer by such persons as, at the actual date of the execution of such Security, shall be the proper officers of the Issuer, although at the date of the execution and delivery of this
Indenture any such person was not such an officer. 
 Section 2.06 Certificate of Authentication. Only such
Securities as shall bear thereon a certificate of authentication substantially in the form hereinbefore recited, executed by the Trustee by the manual signature of one of its authorized officers, shall be entitled to the benefits of this Indenture
or be valid or obligatory for any purpose. The execution of such certificate by the Trustee upon any Security executed by the Issuer shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder
and that the Holder is entitled to the benefits of this Indenture. 
 Section 2.07 Denomination and Date of Securities;
Payments of Interest. The Securities of each series shall be issuable in denominations established as contemplated by Section 2.03 or, if not so established, in denominations of $1,000 and any integral multiple thereof. The Securities of
each series shall be numbered, lettered or otherwise distinguished in such manner or in accordance with such plan as the officers of the Issuer executing the same may determine with the approval of the Trustee, as evidenced by the execution and
authentication thereof. Unless otherwise indicated in a Board Resolution, Officer’s Certificate or supplemental indenture for a particular series, interest will be calculated on the basis of a 360-day year of twelve 30-day months. 

Each Security shall be dated the date of its authentication. The Securities of each series shall bear interest, if any, from the date,
and such interest shall be payable on the dates, established as contemplated by Section 2.03. 

  
 10 

 The Person in whose name any Security of any series is registered at the close of business
on any record date applicable to a particular series with respect to any interest payment date for such series shall be entitled to receive the interest, if any, payable on such interest payment date notwithstanding any transfer, exchange or
conversion of such Security subsequent to the record date and prior to such interest payment date, except if and to the extent the Issuer shall default in the payment of the interest due on such interest payment date for such series, in which case
such defaulted interest shall be paid to the Persons in whose names Outstanding Securities for such series are registered at the close of business on a subsequent record date (which shall be not less than five Business Days prior to the date of
payment of such defaulted interest) established by notice given by mail by or on behalf of the Issuer to the Holders of Securities not less than 15 days preceding such subsequent record date. The term “record date” as used with
respect to any interest payment date (except a date for payment of defaulted interest) for the Securities of any series shall mean the date specified as such in the terms of the Securities of such series established as contemplated by
Section 2.03, or, if no such date is so established, if such interest payment date is the first day of a calendar month, the 15th day of the immediately preceding calendar month or, if such interest payment date is the 15th day of a calendar
month, the first day of such calendar month, whether or not such record date is a Business Day. 
 Section 2.08
Registration, Transfer and Exchange. The Issuer will keep at each office or agency to be maintained for the purpose as provided in Section 3.02 for each series of Securities a register or registers in which, subject to such reasonable
regulations as it may prescribe, it will provide for the registration of Securities of such series and the registration of transfer of Securities of such series. Such register shall be in written form in the English language or in any other form
capable of being converted into such form within a reasonable time. At all reasonable times such register or registers shall be open for inspection by the Trustee. 
 Upon due presentation for registration of transfer of any Security of any series at any such office or agency to be maintained for the purpose as provided in Section 3.02, the Issuer shall execute
and the Trustee shall authenticate and deliver in the name of the transferee or transferees a new Security or Securities of the same series, maturity date, interest rate and original issue date in authorized denominations for a like aggregate
principal amount. 
 At the option of the Holder thereof, Securities of any series (except a Global Security) may be exchanged
for a Security or Securities of such series having authorized denominations and an equal aggregate principal amount, upon surrender of such Securities to be exchanged at the agency of the Issuer that shall be maintained for such purpose in
accordance with Section 3.02 and upon payment, if the Issuer shall so require, of the charges hereinafter provided. Whenever any Securities are so surrendered for exchange, the Issuer shall execute, and the Trustee shall authenticate and
deliver, the Securities which the Holder making the exchange is entitled to receive. All Securities surrendered upon any exchange or transfer provided for in this Indenture shall be promptly cancelled and disposed of by the Trustee and the Trustee
will deliver a certificate of disposition thereof to the Issuer. 
 All Securities presented for registration of transfer,
exchange, redemption or payment shall (if so required by the Issuer or the Trustee) be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the
Holder or his or her attorney duly authorized in writing. 

  
 11 

 The Issuer may require payment of a sum sufficient to cover any stamp or other tax or other
governmental charge that may be imposed in connection with any exchange or registration of transfer of Securities. No service charge shall be made for any such transaction. 
 The Issuer shall not be required to exchange or register a transfer of (a) any Securities of any series for a period of 15 days immediately preceding the first mailing of notice of redemption of
Securities of such series to be redeemed or (b) any Securities selected, called or being called for redemption, in whole or in part, except, in the case of any Security to be redeemed in part, the portion thereof not so to be redeemed.

 Notwithstanding any other provision of this Section 2.08, unless and until it is exchanged in whole or in part for
Securities in definitive registered form, a Global Security representing all or a portion of the Securities of a series may not be transferred except as a whole by the Depositary for such series to a nominee of such Depositary or by a nominee of
such Depositary to such Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a nominee of such successor Depositary. 

If at any time the Depositary for the Securities of a series notifies the Issuer that it is unwilling or unable to continue as Depositary
for the Securities of such series or if at any time the Depositary for the Securities of a series shall no longer be eligible under Section 2.04, the Issuer shall appoint a successor Depositary with respect to the Securities of such series. If
a successor Depositary for the Securities of such series is not appointed by the Issuer within 90 days after the Issuer receives such notice or becomes aware of such ineligibility, the Issuer’s determination pursuant to Section 2.03 that
the Securities of such series be represented by a Global Security shall no longer be effective and the Issuer will execute, and the Trustee, upon receipt of an Officer’s Certificate for the authentication and delivery of definitive Securities
of such series, will authenticate and deliver, Securities of such series in definitive registered form, in any authorized denominations, in an aggregate principal amount equal to the principal amount of the Global Security or Securities representing
the Securities of such series, in exchange for such Global Security or Securities. 
 The Issuer may at any time and in its sole
discretion determine that the Securities of any series issued in the form of one or more Global Securities shall no longer be represented by a Global Security or Securities. In such event the Issuer will execute, and the Trustee, upon receipt of an
Officer’s Certificate for the authentication and delivery of definitive Securities of such series, will authenticate and deliver, Securities of such series in definitive registered form, in any authorized denominations, in an aggregate
principal amount equal to the principal amount of the Global Security or Securities representing such series, in exchange for such Global Security or Securities. 
 The Depositary for such Global Security may surrender such Global Security in exchange in whole or in part for Securities of the same series in definitive registered form in accordance with the two
preceding paragraphs or on such other terms as are acceptable to the Issuer and such Depositary. Thereupon, the Issuer shall execute, and the Trustee shall authenticate and deliver, without service charge, 

  
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 (i) to the Person specified by such Depositary a new Security or Securities
of the same series, of any authorized denominations as requested by such Person, in an aggregate principal amount equal to and in exchange for such Person’s beneficial interest in the Global Security; and 

(ii) to such Depositary a new Global Security in a denomination equal to the difference, if any, between the principal
amount of the surrendered Global Security and the aggregate principal amount of Securities authenticated and delivered pursuant to clause (i) above. 
 Upon the exchange of a Global Security for Securities in definitive registered form, in authorized denominations, such Global Security shall be cancelled by the Trustee. Securities in definitive
registered form issued in exchange for a Global Security pursuant to this Section 2.08 shall be registered in such names and in such authorized denominations as the Depositary for such Global Security, pursuant to instructions from its direct
or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to or as directed by the Persons in whose names such Securities are so registered. 

All Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Issuer, evidencing the same debt, and
entitled to the same benefits under this Indenture, as the Securities surrendered upon such transfer or exchange. 

Section 2.09 Mutilated, Defaced, Destroyed, Lost and Stolen Securities. In case any temporary or definitive Security shall
become mutilated, defaced or be destroyed, lost or stolen, the Issuer in its discretion may execute, and upon the written request of any officer of the Issuer, the Trustee shall authenticate and deliver a new Security of the same series, maturity
date, interest rate and original issue date, bearing a number or other distinguishing symbol not contemporaneously outstanding, in exchange and substitution for the mutilated or defaced Security, or in lieu of and substitution for the Security so
destroyed, lost or stolen. In every case the applicant for a substitute Security shall furnish to the Issuer and to the Trustee and any agent of the Issuer or the Trustee such security or indemnity as may be required by them to indemnify and defend
and to save each of them harmless and, in every case of destruction, loss or theft, evidence to their satisfaction of the destruction, loss or theft of such Security and of the ownership thereof and in the case of mutilation or defacement shall
surrender the Security to the Trustee. 
 Upon the issuance of any substitute Security, the Issuer may require the payment of a
sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. In case any Security which has matured or is about to
mature or has been called for redemption in full, or is being surrendered for conversion in full, shall become mutilated or defaced or be destroyed, lost or stolen, the Issuer may, instead of issuing a substitute Security (with the Holder’s
consent, in the case of convertible Securities), pay or authorize the payment of the same or convert, or authorize conversion of the same (without surrender thereof except in the 

  
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case of a mutilated or defaced Security), if the applicant for such payment shall furnish to the Issuer and to the Trustee and any agent of the Issuer or the Trustee such security or indemnity as
any of them may require to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Issuer and the Trustee and any agent of the Issuer or the Trustee evidence to their satisfaction of the
destruction, loss or theft of such Security and of the ownership thereof. 
 Every substitute Security of any series issued
pursuant to the provisions of this Section by virtue of the fact that any such Security is destroyed, lost or stolen shall constitute an additional contractual obligation of the Issuer, whether or not the destroyed, lost or stolen Security shall be
at any time enforceable by anyone and shall be entitled to all the benefits of (but shall be subject to all the limitations of rights set forth in) this Indenture equally and proportionately with any and all other Securities of such series duly
authenticated and delivered hereunder. All Securities shall be held and owned upon the express condition that, to the extent permitted by law, the foregoing provisions are exclusive with respect to the replacement or payment or conversion of
mutilated, defaced or destroyed, lost or stolen Securities and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of
negotiable instruments or other securities without their surrender. 
 Section 2.10 Cancellation of Securities;
Destruction Thereof. All Securities surrendered for exchange for Securities of the same series or for payment, redemption, registration of transfer, conversion or for credit against any payment in respect of a sinking or analogous fund, if
surrendered to the Issuer or any agent of the Issuer or the Trustee, shall be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it; and no Securities shall be issued in lieu thereof except as
expressly permitted by any of the provisions of this Indenture. The Trustee shall dispose of cancelled Securities held by it and deliver a certificate of disposition to the Issuer. If the Issuer shall acquire any of the Securities, such acquisition
shall not operate as a redemption or satisfaction of the Debt represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 
 Section 2.11 Temporary Securities. Pending the preparation of definitive Securities for any series, the Issuer may execute and the Trustee shall authenticate and deliver temporary Securities
for such series (printed, lithographed, typewritten or otherwise reproduced, in each case in form satisfactory to the Trustee). Temporary Securities of any series shall be issuable in any authorized denomination, and substantially in the form of the
definitive Securities of such series but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Issuer with the concurrence of the Trustee as evidenced by the execution and
authentication thereof. Temporary Securities may contain such reference to any provisions of this Indenture as may be appropriate. Every temporary Security shall be executed by the Issuer and be authenticated by the Trustee upon the same conditions
and in substantially the same manner, and with like effect, as the definitive Securities. Without unreasonable delay the Issuer shall execute and shall furnish definitive Securities of such series and thereupon temporary Securities of such series
may be surrendered in exchange therefor without charge at each office or agency to be maintained by the Issuer for that purpose pursuant to Section 3.02 and the Trustee shall authenticate and deliver in exchange for such temporary Securities of
such series an equal aggregate principal amount of definitive Securities of the same 

  
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series having authorized denominations. Until so exchanged, the temporary Securities of any series shall be entitled to the same benefits under this Indenture as definitive Securities of such
series, unless the benefits of the temporary Securities are limited pursuant to Section 2.03. 
 ARTICLE 3 

COVENANTS OF THE ISSUER 
 Section 3.01 Payment of Principal and Interest. The Issuer covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay or cause to be paid the
principal of, and interest on, each of the Securities of such series (together with any additional amounts payable pursuant to the terms of such Securities) at the place or places, at the respective times and in the manner provided in such
Securities and in this Indenture. The interest on Securities (together with any additional amounts payable pursuant to the terms of such Securities) shall be payable only to or upon the written order of the Holders thereof and at the option of the
Issuer may be paid by mailing checks for such interest payable to or upon the written order of such Holders at their last addresses as they appear on the Security register of the Issuer. 

Section 3.02 Offices for Payments, Etc. The Issuer will maintain (i) in
            , an agency where the Securities of each series may be presented for payment, an agency where the Securities of each series may be presented for exchange and conversion, if
applicable, as provided in this Indenture and an agency where the Securities of each series may be presented for registration of transfer as in this Indenture provided and (ii) such further agencies in such places as may be determined for the
Securities of such series pursuant to Section 2.03. 
 The Issuer will maintain in
            , an agency where notices and demands to or upon the Issuer in respect of the Securities of any series or this Indenture may be served. 

The Issuer will give to the Trustee written notice of the location of each such agency and of any change of location thereof. In case the
Issuer shall fail to maintain any agency required by this Section to be located in             , or shall fail to give such notice of the location or of any change in the location of any of
the above agencies, presentations and demands may be made and notices may be served at the Corporate Trust Office of the Trustee. 
 The Issuer may from time to time designate one or more additional agencies where the Securities of a series may be presented for payment, where the Securities of that series may be presented for exchange
or conversion, if applicable, as provided in this Indenture and pursuant to Section 2.03 and where the Securities of that series may be presented for registration of transfer as in this Indenture provided, and the Issuer may from time to time
rescind any such designation, as the Issuer may deem desirable or expedient; provided, however, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain the agencies provided for in
this Section. The Issuer will give to the Trustee prompt written notice of any such designation or rescission thereof. 

Section 3.03 Appointment to Fill a Vacancy in Office of Trustee. The Issuer, whenever necessary to avoid or fill a vacancy in
the office of Trustee, will appoint, in the manner provided in Section 6.10, a Trustee, so that there shall at all times be a Trustee with respect to each series of Securities hereunder. 

  
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 Section 3.04 Paying Agents. Whenever the Issuer shall appoint a paying agent
other than the Trustee with respect to the Securities of any series, it will cause such paying agent to execute and deliver to the Trustee an instrument in which such agent shall agree with the Trustee, subject to the provisions of this Section,

 (a) that it will hold all sums received by it as such agent for the payment of the principal of or interest on
the Securities of such series (whether such sums have been paid to it by the Issuer or by any other obligor on the Securities of such series) in trust for the benefit of the Holders of the Securities of such series or of the Trustee, 

(b) that it will give the Trustee notice of any failure by the Issuer (or by any other obligor on the Securities of such
series) to make any payment of the principal of or interest on the Securities of such series when the same shall be due and payable, and 
 (c) that at any time during the continuance of any such failure, upon the written request of the Trustee, it will forthwith pay to the Trustee all sums so held in trust by such paying agent. 

The Issuer will, on or prior to each due date of the principal of or interest on the Securities of such series, deposit with the paying
agent a sum sufficient to pay such principal or interest so becoming due, and (unless such paying agent is the Trustee) the Issuer will promptly notify the Trustee of any failure to take such action. 

If the Issuer shall act as its own paying agent with respect to the Securities of any series, it will, on or before each due date of the
principal of or interest on the Securities of such series, set aside, segregate and hold in trust for the benefit of the Holders of the Securities of such series a sum sufficient to pay such principal or interest so becoming due. The Issuer will
promptly notify the Trustee of any failure to take such action. 
 Anything in this Section to the contrary notwithstanding, but
subject to Section 10.01, the Issuer may at any time, for the purpose of obtaining a satisfaction and discharge with respect to one or more or all series of Securities hereunder, or for any other reason, pay or cause to be paid to the Trustee
all sums held in trust for any such series by the Issuer or any paying agent hereunder, as required by this Section, such sums to be held by the Trustee upon the trusts herein contained. 

Anything in this Section to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section is subject to
the provisions of Sections 10.03 and 10.04. 
 Section 3.05 Written Statement to Trustee. So long as any Securities
are Outstanding hereunder, the Issuer will deliver to the Trustee, within 120 days after the end of each fiscal year of the Issuer ending after the date hereof, a written statement covering the previous fiscal year, signed by two of its officers
(which need not comply with Section 11.05), stating that in the course of the performance of their duties as officers of the Issuer they would normally have knowledge of any default by the Issuer in the performance or fulfillment of any
covenant, 

  
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agreement or condition contained in this Indenture, stating whether or not they have knowledge of any such default and, if so, specifying each such default of which the signers have knowledge and
the nature thereof. 
 ARTICLE 4 
 SECURITYHOLDERS LISTS AND REPORTS BY THE ISSUER AND THE TRUSTEE 

Section 4.01 Issuer to Furnish Trustee Information as to Names and Addresses of Securityholders. The Issuer covenants and
agrees that it will furnish or cause to be furnished to the Trustee a list in such form as the Trustee may reasonably require of the names and addresses of the Holders of the Securities of each series pursuant to Section 312 of the Trust
Indenture Act of 1939: 
 (a) semiannually and not more than 15 days after each record date for the payment of
interest on such Securities, as hereinabove specified, as of such record date and on dates to be determined pursuant to Section 2.03 for non-interest bearing Securities in each year, and 

(b) at such other times as the Trustee may request in writing, within 30 days after receipt by the Issuer of any such
request as of a date not more than 15 days prior to the time such information is furnished, provided, that, if and so long as the Trustee shall be the Security registrar (the “Security Registrar”) for such series, such list
shall not be required to be furnished. 
 Section 4.02 Reports by the Issuer. The Issuer covenants to comply with
Section 314(a) of the Trust Indenture Act insofar as it relates to information, documentations, and other reports which the Issuer may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934. 
 Section 4.03 Reports by the Trustee. Any Trustee’s report required under
Section 313(a) of the Trust Indenture Act of 1939 shall be transmitted on or before                      in each year following the date hereof,
so long as any Securities are Outstanding hereunder, and shall be dated as of a date convenient to the Trustee but no more than 60 nor less than 45 days prior thereto. The Trustee shall comply with Sections 313(b), 313(c) and 313(d) of the Trust
Indenture Act. 
 Section 4.04 Preservation of Information; Communication with Securityholders. (a) The Trustee
shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the holders of Securities contained in the most recent list furnished to it as provided in Section 4.01 and as to the names and
addresses of holders of Securities received by the Trustee in its capacity as Security Registrar (if acting in such capacity). 

(b) The Trustee may destroy any list furnished to it as provided in Section 4.01 upon receipt of a new list so furnished.

 (c) Securityholders may communicate as provided in Section 312(b) of the Trust Indenture Act with other Securityholders
with respect to their rights under this Indenture or under the Securities. The Issuer, the Trustee, the Security Registrar and any other Person shall have the protection of Section 312(c) of the Trust Indenture Act. 

  
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 ARTICLE 5 
 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT 

Section 5.01 Event of Default Defined; Acceleration of Maturity; Waiver of Default. “Event of Default”, with
respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be
effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(a) default in the payment of any installment of interest upon any of the Securities of such series as and when the same
shall become due and payable, and continuance of such default for a period of 90 days (or such other period as may be established for the Securities of such series as contemplated by Section 2.03); or 

(b) default in the payment of all or any part of the principal on any of the Securities of such series as and when the
same shall become due and payable either at maturity, upon redemption, by declaration or otherwise (and, if established for the Securities of such series as contemplated by Section 2.03, the continuance of such default for a specified period);
or 
 (c) default in the performance, or breach, of any covenant or agreement of the Issuer in respect of the
Securities of such series (other than a covenant or agreement in respect of the Securities of such series a default in the performance or breach of which is elsewhere in this Section specifically dealt with), and continuance of such default or
breach for a period of 90 days after there has been given, by registered or certified mail, to the Issuer by the Trustee or to the Issuer and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of all series
affected thereby, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

(d) a court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Issuer in an
involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of the Issuer or for all or
substantially all of its property and assets or ordering the winding up or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for a period of 90 consecutive days; or 

(e) the Issuer shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, or consent to the entry of an order for relief in an involuntary case under any such law, or consent to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar
official) of the Issuer or for any substantial part of its property and assets, or make any general assignment for the benefit of creditors; or 

  
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 (f) any other Event of Default provided for in such series of Securities.

 If an Event of Default described in clauses (a), (b), (c) or (f) occurs and is continuing, then, and in each and
every such case, unless the principal of all of the Securities of such series shall have already become due and payable, either the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities of such series then
Outstanding hereunder (each such series voting as a separate class) by notice in writing to the Issuer (and also to the Trustee if given by Securityholders), may declare the entire principal (or, if the Securities of such series are Original Issue
Discount Securities, such portion of the principal amount as may be specified in the terms of such series) of all Securities of such series and the interest accrued thereon, if any, to be due and payable immediately, and upon any such declaration
the same shall become immediately due and payable. If an Event of Default described in clauses (d) or (e) occurs and is continuing, then and in each and every such case, the entire principal (or, if any Securities are Original Issue
Discount Securities, such portion of the principal as may be specified in the terms thereof) of all the Securities then Outstanding and interest accrued thereon, if any, shall become immediately due and payable. 

The foregoing provisions, however, are subject to the condition that if, at any time after the principal of the Securities of any series
shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, the Issuer shall pay or shall deposit with the Trustee a sum sufficient to
pay all matured installments of interest upon all the Securities of such series and the principal of any and all Securities of such series which shall have become due otherwise than by acceleration (with interest upon such principal and, to the
extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest specified in the Securities of such series to the date of such payment or deposit) and such
amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee except as a result of negligence or bad faith,
and if any and all Events of Default under the Indenture with respect to such series, other than the non-payment of the principal of Securities of such series which shall have become due by acceleration, shall have been cured, waived or otherwise
remedied as provided herein—then and in every such case the Holders of a majority in aggregate principal amount of all the Securities of such series then Outstanding, by written notice to the Issuer and to the Trustee, may waive all defaults
with respect to such series and rescind and annul such declaration and its consequences, but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. 

Unless otherwise indicated in the Board Resolution, Officer’s Certificate or supplemental indenture for a series of Original Issue
Discount Securities, for all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated and declared due and payable pursuant to the provisions hereof, then, from and after such
declaration, unless such declaration has been rescinded and annulled, the principal amount of such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be such 

  
 19 

 
portion of the principal thereof as shall be due and payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and payable as a result of such
acceleration, together with interest, if any, thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Securities. 
 Section 5.02 Collection of Debt by Trustee; Trustee May Prove Debt. The Issuer covenants that (a) in case default shall be made in the payment of any installment of interest on any of the
Securities of any series when such interest shall have become due and payable, and such default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the
Securities of any series when the same shall have become due and payable, whether upon maturity of the Securities of such series or upon any redemption or by declaration or otherwise—then, upon demand of the Trustee, the Issuer will pay to the
Trustee for the benefit of the Holders of the Securities of such series the whole amount that then shall have become due and payable on all Securities of such series for principal or interest, as the case may be (with interest to the date of such
payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue
Discount Securities) specified in the Securities of such series); and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each
predecessor trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor trustee except as a result of its negligence or bad faith. 

In case the Issuer shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express
trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to judgment or final decree, and may enforce any
such judgment or final decree against the Issuer or other obligor upon such Securities and collect in the manner provided by law out of the property of the Issuer or other obligor upon such Securities, wherever situated, the moneys adjudged or
decreed to be payable. 
 In case there shall be pending proceedings relative to the Issuer or any other obligor upon the
Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar
official shall have been appointed for or taken possession of the Issuer or its property or such other obligor or its property, or in case of any other comparable judicial proceedings relative to the Issuer or other obligor upon the Securities of
any series, or to the creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: 

(i) to file and prove a claim or claims for the whole amount of principal and interest (or, if the Securities of any
series are Original Issue Discount Securities, such portion of the principal amount as may be specified in 

  
 20 

 
the terms of such series) owing and unpaid in respect of the Securities of any series, and to file such other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by
the Trustee and each predecessor trustee, except as a result of negligence or bad faith) and of the Securityholders allowed in any judicial proceedings relative to the Issuer or other obligor upon the Securities of any series, or to the creditors or
property of the Issuer or such other obligor, 
 (ii) unless prohibited by applicable law and regulations, to
vote on behalf of the Holders of the Securities of any series in any election of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or person performing similar functions in
comparable proceedings, and 
 (iii) to collect and receive any moneys or other property payable or deliverable
on any such claims, and to distribute all amounts received with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver or liquidator, custodian or other similar official is hereby authorized by
each of the Securityholders to make payments to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to the Securityholders, to pay to the Trustee such amounts as shall be sufficient to cover reasonable
compensation to the Trustee, each predecessor trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor trustee except as a result of
negligence or bad faith and all other amounts due to the Trustee or any predecessor trustee pursuant to Section 6.06. 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or vote for or accept or adopt on behalf of
any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any series or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Securityholder in
any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar person. 
 All rights
of action and of asserting claims under this Indenture, or under any of the Securities of any series, may be enforced by the Trustee without the possession of any of the Securities of such series or the production thereof on any trial or other
proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and
compensation of the Trustee, each predecessor trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Securities in respect of which such action was taken. 

  
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 In any proceedings brought by the Trustee (and also any proceedings involving the
interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities in respect to which such action was taken, and it shall not be necessary to make any
Holders of such Securities parties to any such proceedings. 
 Section 5.03 Application of Proceeds. Any moneys
collected by the Trustee pursuant to this Article in respect of any series shall be applied in the following order at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal or interest, upon
presentation of the several Securities in respect of which monies have been collected and stamping (or otherwise noting) thereon the payment, or issuing Securities of such series in reduced principal amounts in exchange for the presented Securities
of like series if only partially paid, or upon surrender thereof if fully paid: 
 FIRST: To the payment of all
amounts due to the Trustee or any predecessor trustee pursuant to Section 6.06; 
 SECOND: In case the
principal of the Securities of such series in respect of which moneys have been collected shall not have become and be then due and payable, to the payment of interest on the Securities of such series in default in the order of the maturity of the
installments of such interest, with interest (to the extent that such interest has been collected by the Trustee) upon the overdue installments of interest, to the extent permitted by applicable law, at the same rate as the rate of interest or Yield
to Maturity (in the case of Original Issue Discount Securities) specified in such Securities, such payments to be made ratably to the Persons entitled thereto, without discrimination or preference; 

THIRD: In case the principal of the Securities of such series in respect of which moneys have been collected shall have
become and shall be then due and payable, to the payment of the whole amount then owing and unpaid upon all the Securities of such series for principal and interest, with interest upon the overdue principal, and (to the extent that such interest has
been collected by the Trustee) upon overdue installments of interest, to the extent permitted by applicable law, at the same rate as the rate of interest or Yield to Maturity (in the case of Original Issue Discount Securities) specified in the
Securities of such series; and in case such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon the Securities of such series, then to the payment of such principal and interest or Yield to Maturity, without
preference or priority of principal over interest or Yield to Maturity, or of interest or Yield to Maturity over principal, or of any installment of interest over any other installment of interest, or of any Security of such series over any other
Security of such series, ratably to the aggregate of such principal and accrued and unpaid interest or Yield to Maturity; and 
 FOURTH: To the payment of the remainder, if any, to the Issuer or any other Person lawfully entitled thereto. 
 Section 5.04 Suits for Enforcement. In case an Event of Default has occurred, has not been waived and is continuing, the Trustee may in its discretion proceed to protect and enforce

  
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the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, either at law or in equity or
in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power granted in this Indenture or to enforce any other legal or equitable right vested in the
Trustee by this Indenture or by law. 
 Section 5.05 Restoration of Rights on Abandonment of Proceedings. In case
the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee, then and in every such case (subject to
any determination in such proceeding) the Issuer and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Issuer, the Trustee and the Securityholders shall continue as
though no such proceedings had been taken. 
 Section 5.06 Limitations on Suits by Securityholders. No Holder of any
Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this Indenture, or for
the appointment of a trustee, receiver, liquidator, custodian or other similar official or for any other remedy hereunder, unless such Holder previously shall have given to the Trustee written notice of default and of the continuance thereof, as
hereinbefore provided, and unless also the Holders of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action or proceedings in its
own name as trustee hereunder and shall have offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby and the Trustee for 60 days after its receipt of such
notice, request and offer of indemnity shall have failed to institute any such action or proceeding and no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 5.09; it being understood and
intended, and being expressly covenanted by the Holder of every Security with every other Holder and the Trustee, that no one or more Holders of Securities of any series shall have any right in any manner whatever by virtue or by availing of any
provision of this Indenture to affect, disturb or prejudice the rights of any other such Holder of Securities, or to obtain or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Indenture, except
in the manner herein provided and for the equal, ratable and common benefit of all Holders of Securities of the applicable series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee
shall be entitled to such relief as can be given either at law or in equity. 
 Section 5.07 Unconditional Right of
Securityholders to Institute Certain Suits. Notwithstanding any other provision in this Indenture and any provision of any Security, the right of any Holder of any Security to receive payment of the principal of and interest on such Security on
or after the respective due dates expressed in such Security in accordance with the terms hereof and thereof, or to institute suit for the enforcement of any such payment on or after such respective dates, or for the enforcement of such conversion
right, shall not be impaired or affected without the consent of such Holder; it being understood and intended, and being expressly covenanted by the Holder of every Security with every other Holder and the Trustee, that no one or more Holders of
Securities of any series shall have any right in any manner 

  
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whatever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other such Holder of Securities, or to obtain or seek to obtain priority
over or preference to any other such Holder or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders of Securities of the applicable series. For the protection
and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 
 Section 5.08 Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default. Except as provided in Section 5.06, no right or remedy herein conferred upon or reserved to the
Trustee or to the Holders of Securities is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now
or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

No delay or omission of the Trustee or of any Holder of Securities to exercise any right or power accruing upon any Event of Default
occurring and continuing as aforesaid shall impair any such right or power or shall be construed to be a waiver of any such Event of Default or an acquiescence therein; and, subject to Section 5.06, every power and remedy given by this
Indenture or by law to the Trustee or to the Holders of Securities may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Holders of Securities. 

Section 5.09 Control by Holders of Securities. The Holders of a majority in aggregate principal amount of the Securities of
each series affected (with each series voting as a separate class) at the time Outstanding shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or
power conferred on the Trustee with respect to the Securities of such series by this Indenture; provided, that such direction shall not be otherwise than in accordance with law and the provisions of this Indenture and provided, further, that
(subject to the provisions of Section 6.01) the Trustee shall have the right to decline to follow any such direction if the Trustee, being advised by counsel, shall determine that the action or proceeding so directed may not lawfully be taken
or if the Trustee in good faith by its board of directors, the executive committee, or a trust committee of directors or Responsible Officers of the Trustee shall determine that the action or proceedings so directed would involve the Trustee in
personal liability or if the Trustee in good faith shall so determine that the actions or forbearances specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of the Securities of all series so affected not
joining in the giving of said direction, it being understood that (subject to Section 6.01) the Trustee shall have no duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders. 

Nothing in this Indenture shall impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and
which is not inconsistent with such direction or directions by Securityholders. 

  
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 Section 5.10 Waiver of Past Defaults. Prior to the declaration of the
acceleration of the maturity of the Securities of any series as provided in Section 5.01, the Holders of a majority in aggregate principal amount of the Securities of such series at the time Outstanding, by notice to the Trustee, may on behalf
of the Holders of all the Securities of such series waive any existing default in the performance of any of the covenants contained herein or established pursuant to Section 2.03 with respect to such series and its consequences, except a
default in the payment of the principal of, or interest on, any of the Securities of that series as and when the same shall become due by the terms of such Securities. In the case of any such waiver, the Issuer, the Trustee and the Holders of the
Securities of such series shall be restored to their former positions and rights hereunder, respectively, such default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall
be deemed to have been cured, and not to have occurred for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. 

Section 5.11 Trustee to Give Notice of Default. The Trustee shall, within 90 days after the occurrence of a default with
respect to the Securities of any series, give notice of all defaults with respect to that series known to the Trustee to all Holders of Securities of such series in the manner and to the extent provided in Section 4.03, unless in each case such
defaults shall have been cured before the mailing or publication of such notice (the term “defaults” for the purpose of this Section being hereby defined to mean any event or condition which is, or with notice or lapse of time or
both would become, an Event of Default); provided, that, except in the case of default in the payment of the principal of or interest on any of the Securities of such series, or in the payment of any sinking fund installment on such series,
the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors or trustees and/or Responsible Officers of the Trustee in good faith determines that the
withholding of such notice is in the interests of the Securityholders of such series. 
 Section 5.12 Right of Court to
Require Filing of Undertaking to Pay Costs. All parties to this Indenture agree, and each Holder of any Security by his or her acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the
enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and
that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant;
but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder or group of Securityholders of any series holding in the aggregate more than 10% in aggregate principal amount of
the Securities of such series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of or interest on any Security of such series, on or after the respective due dates expressed in such Security or
established pursuant to this Indenture. 

  
 25 

 ARTICLE 6 
 CONCERNING THE TRUSTEE 
 Section 6.01 Duties and Responsibilities of the
Trustee; During Default; Prior to Default. With respect to the Holders of any series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular series and after the
curing or waiving of all Events of Default which may have occurred with respect to such series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the
Securities of a series has occurred (which has not been cured or waived), the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would
exercise or use under the circumstances in the conduct of his or her own affairs. 
 No provision of this Indenture shall be
construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct. 
 Section 6.02 Certain Rights of the Trustee. In furtherance of and subject to the Trust Indenture Act of 1939 and subject to Section 6.01: 

(a) in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but, in the case of any such statements, certificates or
opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture; 

(b) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible
Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (c) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders pursuant to Section 5.09 relating to
the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture; 

(d) none of the provisions contained in this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers if there shall be reasonable ground for believing that the repayment of such funds or adequate indemnity against
such liability is not reasonably assured to it; 
 (e) the Trustee may rely and shall be protected in acting or
refraining from acting upon any resolution, Officer’s Certificate or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, security or other paper or document believed by it to be
genuine and to have been signed or presented by the proper party or parties; 

  
 26 

 (f) any request, direction, order or demand of the Issuer mentioned herein
shall be sufficiently evidenced by an Officer’s Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a copy thereof certified
by the secretary or an assistant secretary of the Issuer; 
 (g) the Trustee may consult with counsel and any
advice or Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted to be taken by it hereunder in good faith and in accordance with such advice or Opinion of Counsel; 

(h) the Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Indenture at the
request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities which
might be incurred therein or thereby; 
 (i) the Trustee shall not be liable for any action taken or omitted by
it in good faith and believed by it to be authorized or within the discretion, rights or powers conferred upon it by this Indenture; 
 (j) prior to the occurrence of an Event of Default hereunder and after the curing or waiving of all Events of Default, the Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, appraisal, bond, debenture, note, security, or other paper or document unless requested in writing so to do by the Holders of
not less than a majority in aggregate principal amount of the Securities of all series affected then Outstanding; provided, that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be
incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such
expenses or liabilities as a condition to proceeding; the reasonable expenses of every such investigation shall be paid by the Issuer or, if paid by the Trustee or any predecessor trustee, shall be repaid by the Issuer upon demand; and 

(k) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or
through agents or attorneys not regularly in its employ and the Trustee shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed with due care by it hereunder. 

Section 6.03 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof. The recitals
contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Issuer, and the 

  
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Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall
not be accountable for the use or application by the Issuer of any of the Securities or of the proceeds thereof. 

Section 6.04 Trustee and Agents May Hold Securities; Collections, Etc. The Trustee or any agent of the Issuer or the Trustee,
in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee or such agent and may otherwise deal with the Issuer and receive, collect, hold and retain
collections from the Issuer with the same rights it would have if it were not the Trustee or such agent. 
 Section 6.05
Moneys Held by Trustee. Subject to the provisions of Section 10.04 hereof, all moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not
be segregated from other funds except to the extent required by mandatory provisions of law. Neither the Trustee nor any agent of the Issuer or the Trustee shall be under any liability for interest on any moneys received by it hereunder. 

Section 6.06 Compensation and Indemnification of Trustee and Its Prior Claim. The Issuer covenants and agrees to pay to the
Trustee from time to time, and the Trustee shall be entitled to, such reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as the Issuer and the Trustee may from
time to time agree in writing and, except as otherwise expressly provided herein, the Issuer covenants and agrees to pay or reimburse the Trustee and each predecessor trustee upon its request for all reasonable expenses, disbursements and advances
incurred or made by or on behalf of it in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all agents and other persons not regularly in its
employ) except any such expense, disbursement or advance as may arise from its negligence or bad faith. The Issuer also covenants to indemnify the Trustee and each predecessor trustee for, and to hold it harmless against, any loss, liability or
expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of this Indenture or the trusts hereunder and its duties hereunder, including the costs and expenses of defending
itself against or investigating any claim of liability in the premises. The obligations of the Issuer under this Section to compensate and indemnify the Trustee and each predecessor trustee and to pay or reimburse the Trustee and each predecessor
trustee for expenses, disbursements and advances shall constitute additional indebtedness hereunder and shall survive the satisfaction and discharge of this Indenture. Such additional indebtedness shall be a senior claim to that of the Securities
upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the Holders of particular Securities, and the Securities are hereby subordinated to such senior claim. 

Section 6.07 Right of Trustee to Rely on Officer’s Certificate, Etc. Subject to Sections 6.01 and 6.02, whenever in the
administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting any action hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, 

  
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be deemed to be conclusively proved and established by an Officer’s Certificate delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part of the
Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof. 
 Section 6.08 Disqualification; Conflicting Interests. If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture
Act, the Trustee and the Issuer shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 
 Section 6.09 Persons Eligible for Appointment as Trustee. The Trustee for each series of Securities hereunder shall at all times be a corporation having a combined capital and surplus of at
least $50,000,000 and shall be eligible in accordance with the provisions of Section 310(a) of the Trust Indenture Act of 1939. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of a
Federal, State or District of Columbia supervising or examining authority, then, for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most
recent report of condition so published. 
 Section 6.10 Resignation and Removal; Appointment of Successor Trustee.
(a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all series of Securities by giving written notice of resignation to the Issuer and by mailing notice of such resignation to
the Holders of then Outstanding Securities of each series affected at their addresses as they shall appear on the Security register. Upon receiving such notice of resignation, the Issuer shall promptly appoint a successor trustee or trustees with
respect to the applicable series by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no
successor trustee shall have been so appointed with respect to any series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning trustee may petition any court of competent jurisdiction for the
appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable series for at least six months may, on behalf of himself or herself and all others similarly situated, petition
any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any of the following shall occur: 

(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act of 1939 with
respect to any series of Securities after written request therefor by the Issuer or by any Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months; or 

(ii) the Trustee shall cease to be eligible in accordance with the provisions of Section 310(a) of the Trust
Indenture Act of 1939 and shall fail to resign after written request therefor by the Issuer or by any Securityholder; or 

  
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 (iii) the Trustee shall become incapable of acting with respect to any
series of Securities, or shall be adjudged bankrupt or insolvent, or a receiver or liquidator of the Trustee or of its property shall be appointed, or any public officer shall take charge or control of the Trustee or of its property or affairs for
the purpose of rehabilitation, conservation or liquidation; 
 then, in any such case, (A) the Issuer may remove the Trustee
with respect to the applicable series of Securities and appoint a successor trustee for such series by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so
removed and one copy to the successor trustee, or, (B) subject to Section 315(e) of the Trust Indenture Act of 1939, any Securityholder who has been a bona fide Holder of a Security or Securities of such series for at least six months may
on behalf of himself or herself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such series. Such court may thereupon, after
such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee. 

(c) The Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding may
at any time remove the Trustee with respect to Securities of such series and, with the consent of the Issuer, appoint a successor trustee with respect to the Securities of such series by delivering to the Trustee so removed, to the successor trustee
so appointed and to the Issuer the evidence provided for in Section 7.01 of the action in that regard taken by the Securityholders. 
 (d) Any resignation or removal of the Trustee with respect to any series and any appointment of a successor trustee with respect to such series pursuant to any of the provisions of this Section 6.10
shall become effective upon acceptance of appointment by the successor trustee as provided in Section 6.11. 

Section 6.11 Acceptance of Appointment by Successor Trustee. Any successor trustee appointed as provided in Section 6.10
shall execute and deliver to the Issuer and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee with respect to all or any applicable series shall become
effective and such successor trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, duties and obligations with respect to such series of its predecessor hereunder, with like effect as if originally named
as trustee for such series hereunder; but, nevertheless, on the written request of the Issuer or of the successor trustee, upon payment of its charges then unpaid, the trustee ceasing to act shall, subject to Section 10.04, pay over to the
successor trustee all moneys at the time held by it hereunder and shall execute and deliver an instrument transferring to such successor trustee all such rights, powers, duties and obligations. Upon request of any such successor trustee, the Issuer
shall execute any and all instruments in writing for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any trustee ceasing to act shall, nevertheless, retain a prior claim upon all property or
funds held or collected by such trustee to secure any amounts then due it pursuant to the provisions of Section 6.06. 

  
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 If a successor trustee is appointed with respect to the Securities of one or more (but not
all) series, the Issuer, the predecessor trustee and each successor trustee with respect to the Securities of any applicable series shall execute and deliver an indenture supplemental hereto which shall contain such provisions as shall be deemed
necessary or desirable to confirm that all the rights, powers, trusts and duties of the predecessor trustee with respect to the Securities of any series as to which the predecessor trustee is not retiring shall continue to be vested in the
predecessor trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, it being understood that nothing herein
or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or trusts under separate indentures. 

No successor trustee with respect to any series of Securities shall accept appointment as provided in this Section 6.11 unless at
the time of such acceptance such successor trustee shall be qualified under the provisions of Section 310(b) of the Trust Indenture Act of 1939 and eligible under the provisions of Section 310(a) of the Trust Indenture Act of 1939.

 Upon acceptance of appointment by any successor trustee as provided in this Section 6.11, the Issuer shall mail notice
thereof to the Holders of Securities of each series affected, by mailing such notice to such Holders at their addresses as they shall appear on the Security register. If the acceptance of appointment is substantially contemporaneous with the
resignation, then the notice called for by the preceding sentence may be combined with the notice called for by Section 6.10. If the Issuer fails to mail such notice within ten days after acceptance of appointment by the successor trustee, the
successor trustee shall cause such notice to be given at the expense of the Issuer. 
 Section 6.12 Merger, Conversion,
Consolidation or Succession to Business of Trustee. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any corporation succeeding to the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder; provided, that such corporation shall be qualified under the provisions of
Section 310(b) of the Trust Indenture Act of 1939 and eligible under the provisions of Section 310(a) of the Trust Indenture Act of 1939, without the execution or filing of any paper or any further act on the part of any of the parties
hereto, anything herein to the contrary notwithstanding. 
 In case, at the time such successor to the Trustee shall succeed to
the trusts created by this Indenture, any of the Securities of any series shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee and deliver such
Securities so authenticated; and, in case at that time any of the Securities of any series shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the
name of the successor trustee; and in all such cases such certificate shall have the full force which it is anywhere in the Securities of such series or in this Indenture provided that the certificate of the Trustee shall have; provided, that
the right to adopt the certificate of authentication of any predecessor trustee or to authenticate Securities of any series in the name of any predecessor trustee shall apply only to its successor or successors by merger, conversion or
consolidation. 

  
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 Section 6.13 Preferential Collection of Claims Against the Issuer. The Trustee
shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of
the Trust Indenture Act to the extent included therein. 
 ARTICLE 7 

CONCERNING THE SECURITYHOLDERS 
 Section 7.01 Evidence of Action Taken by Securityholders. Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken
by a specified percentage in principal amount of the Securityholders of any or all series may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such specified percentage of Securityholders in person or
by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee. Proof of execution of any instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Sections 6.01 and 6.02) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Article. 

Section 7.02 Proof of Execution of Instruments and of Holding of Securities. Subject to Sections 6.01 and 6.02, the execution
of any instrument by a Holder or his agent or proxy may be proved in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. The holding of Securities shall
be proved by the Security register or by a certificate of the registrar thereof. The Issuer may set a record date for purposes of determining the identity of Holders of any series entitled to vote or consent to any action referred to in
Section 7.01, which record date may be set at any time or from time to time by notice to the Trustee, for any date or dates (in the case of any adjournment or reconsideration) not more than 60 days nor less than five days prior to the proposed
date of such vote or consent, and thereafter, notwithstanding any other provisions hereof, only Holders of such series of record on such record date shall be entitled to so vote or give such consent or revoke such vote or consent. Notice of such
record date may be given before or after any request for any action referred to in Section 7.01 is made by the Issuer. 

Section 7.03 Holders to Be Treated as Owners. The Issuer, the Trustee and any agent of the Issuer or of the Trustee may deem
and treat the Person in whose name any Security shall be registered upon the Security register for such series as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of ownership or
other writing thereon) for the purpose of receiving payment of or on account of the principal of, and, subject to the provisions of this Indenture, interest on, such Security and for all other purposes; and neither the Issuer nor the Trustee nor any
agent of the Issuer or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his or her order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and
discharge the liability for moneys payable. 
 Section 7.04 Securities Owned by Issuer Deemed Not Outstanding. In
determining whether the Holders of the requisite aggregate principal amount of Outstanding Securities of any 

  
 32 

 
or all series have concurred in any direction, consent or waiver under this Indenture, Securities which are owned by the Issuer or any other obligor on the Securities with respect to which such
determination is being made or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any other obligor on the Securities with respect to which such determination is being made
shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, consent or waiver, only Securities
which the Trustee knows are so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act
with respect to such Securities and that the pledgee is not the Issuer or any other obligor upon the Securities or any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any other
obligor on the Securities. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. 

Section 7.05 Right of Revocation of Action Taken. At any time prior to (but not after) the evidencing to the Trustee, as
provided in Section 7.01, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Securities of any or all series, as the case may be, specified in this Indenture in connection with such action, any
Holder of a Security the serial number of which is shown by the evidence to be included among the serial numbers of the Securities the Holders of which have consented to such action may, by filing written notice at the Corporate Trust Office and
upon proof of holding as provided in this Article, revoke such action so far as concerns such Security. Except as aforesaid, any such action taken by the Holder of any Security shall be conclusive and binding upon such Holder and upon all future
Holders and owners of such Security and of any Securities issued in exchange or substitution therefor or on registration of transfer thereof, irrespective of whether or not any notation in regard thereto is made upon any such Security. Any action
taken by the Holders of the percentage in aggregate principal amount of the Securities of any or all series, as the case may be, specified in this Indenture in connection with such action shall be conclusively binding upon the Issuer, the Trustee
and the Holders of all the Securities affected by such action. 
 ARTICLE 8 

SUPPLEMENTAL INDENTURES 
 Section 8.01 Supplemental Indentures Without Consent of Securityholders. The Issuer, when authorized by a resolution of its Board of Directors, and the Trustee may from time to time and at any
time, without the consent of any of the Securityholders, enter into an indenture or indentures supplemental hereto in form satisfactory to the Trustee for one or more of the following purposes: 

(a) to convey, transfer, assign, mortgage or pledge to the Trustee as security for the Securities of one or more series
any property or assets; 
 (b) to evidence the succession of a corporation, limited liability company,
partnership or trust to the Issuer, or successive successions, and the assumption by such successor of the covenants, agreements and obligations of the Issuer pursuant to Article 9; 

  
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 (c) to add to the covenants of the Issuer such further covenants,
restrictions, conditions or provisions as its Board of Directors and the Trustee shall consider to be for the protection of the Holders of Securities, and to make the occurrence, or the occurrence and continuance, of a default in any such additional
covenants, restrictions, conditions or provisions an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided, that in respect of any such additional covenant,
restriction, condition or provision such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for an immediate
enforcement upon such an Event of Default or may limit the remedies available to the Trustee upon such an Event of Default or may limit the right of the Holders of a majority in aggregate principal amount of the Securities of such series to waive
such an Event of Default; 
 (d) to cure any ambiguity, defect or inconsistency, or to conform this Indenture or
any supplemental indenture to the description of the Securities set forth in any prospectus or prospectus supplement related to such series of Securities; 
 (e) to provide for or add guarantors for the Securities of one or more series; 
 (f) to establish the form or terms of Securities of any series as permitted by Sections 2.01 and 2.03; 
 (g) to evidence and provide for the acceptance of appointment hereunder by a successor trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this
Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of Section 6.11; 

(h) to add to, delete from or revise the conditions, limitations and restrictions on the authorized amount, terms,
purposes of issue, authentication and delivery of any series of Securities, as herein set forth; 
 (i) to make
any change to the Securities of any series so long as no Securities of such series are Outstanding; and 
 (j) to
make any other change that does not adversely affect the interests of the Holders of the Securities in any material respect. 

The Trustee shall join with the Issuer in the execution of any such supplemental indenture, to make any further appropriate agreements
and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into any such supplemental indenture which affects the
Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

  
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 Any supplemental indenture authorized by the provisions of this Section may be executed
without the consent of the Holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 8.02. 
 Section 8.02 Supplemental Indentures With Consent of Securityholders. With the consent (evidenced as provided in Article 7) of the Holders of not less than a majority in aggregate principal
amount of the Securities at the time Outstanding of one or more series affected by such supplemental indenture (voting as separate series), the Issuer, when authorized by a resolution of the Board of Directors, and the Trustee may, from time to time
and at any time, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying
in any manner the rights of the Holders of the Securities of each such consenting series; provided, that no such supplemental indenture shall, without the consent of the Holder of each Security so affected, (a) extend the final maturity
of any Security, or reduce the principal amount thereof, or reduce the rate or extend the time of payment of interest thereon, or reduce any amount payable on redemption thereof, or make the principal thereof (including any amount in respect of
original issue discount) or interest thereon payable in any currency other than that provided in the Securities or in accordance with the terms thereof, or reduce the amount of the principal of an Original Issue Discount Security that would be due
and payable upon an acceleration of the maturity thereof pursuant to Section 5.01 or the amount thereof provable in bankruptcy pursuant to Section 5.02, or waive a default in the payment of principal of any Security or interest thereon or
change a provision related to the waiver of past defaults or changes or impair the right of any Securityholder to institute suit for the payment or conversion thereof or, if the Securities provide therefor, any right of repayment at the option of
the Securityholder, or (b) modify any of the provisions of this section except to increase any required percentage or to provide that certain other provisions cannot be modified or waived without the consent of the Holder of each Security so
affected, or (c) reduce the aforesaid percentage of Securities of any series, the consent of the Holders of which is required for any such supplemental indenture or the consent of Holders of which is required for any modification, amendment or
waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences provided for in this Indenture. 
 A supplemental indenture which changes or eliminates any covenant, Event of Default or other provision of this Indenture (1) that has been expressly included solely for the benefit of one or more
particular series of Securities, if any, or (2) which modifies the rights of Holders of Securities of one or more series with respect to any covenant, Event of Default or provision, shall be deemed not to affect the rights under this Indenture
of the Holders of Securities of any other series with respect to which such covenant, Event of Default or other provision has not be modified. 
 Upon the request of the Issuer, accompanied by a Board Resolution authorizing the execution of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of
Securityholders as aforesaid and other documents, if any, required by Section 7.01, the Trustee shall join with the Issuer in the execution of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights,
duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter into such supplemental indenture. 

  
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 It shall not be necessary for the consent of the Securityholders under this Section to
approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 
 Promptly after the execution by the Issuer and the Trustee of any supplemental indenture pursuant to the provisions of this Section, the Trustee shall give a notice thereof to the Holders of then
Outstanding Securities of each series affected thereby, by mailing a notice thereof by first-class mail to such Holders at their addresses as they shall appear on the Security register, and in each case such notice shall set forth in general terms
the substance of such supplemental indenture. Any failure of the Trustee to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

Section 8.03 Effect of Supplemental Indenture. Upon the execution of any supplemental indenture pursuant to the provisions
hereof, this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Issuer and the Holders of
Securities of each series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be
and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 
 Section 8.04
Documents to Be Given to Trustee. The Trustee, subject to the provisions of Sections 6.01 and 6.02, may receive an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant
to this Article 8 complies with the applicable provisions of this Indenture. 
 Section 8.05 Notation on Securities in
Respect of Supplemental Indentures. Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article may bear a notation in form approved by the Trustee for such
series as to any matter provided for by such supplemental indenture or as to any action taken by Securityholders. If the Issuer or the Trustee shall so determine, new Securities of any series so modified as to conform, in the opinion of the Trustee
and the Board of Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Issuer, authenticated by the Trustee and delivered in exchange for the Securities of such series then Outstanding.

 ARTICLE 9 
 CONSOLIDATION, MERGER, SALE OR CONVEYANCE 
 Section 9.01 Issuer May
Consolidate, Etc., on Certain Terms. The Issuer shall not consolidate with or merge into any other Person (in a transaction in which the Issuer is not the surviving corporation) or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, unless (a) the Person formed by such consolidation or into which the Issuer is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Issuer
substantially as an entirety (i) shall be a corporation, limited liability company, partnership or trust, (ii) shall be organized and validly existing under the laws of the United States of America, any State thereof or the District of
Columbia and (iii) shall 

  
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expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and interest on
all the Securities and the performance or observance of every covenant of this Indenture on the part of the Issuer to be performed, by supplemental indenture satisfactory in form to the Trustee, executed and delivered to the Trustee, by the Person
formed by such consolidation or into which the Issuer shall have been merged or by the Person which shall have acquired the Issuer’s assets; (b) immediately after giving effect to such transaction and treating any indebtedness which
becomes an obligation of the Issuer or any Subsidiary as a result of such transaction as having been incurred by the Issuer or such Subsidiary at the time of such transaction, no Event of Default, and no event which, after notice or lapse of time or
both, would become an Event of Default, shall have happened and be continuing; and (c) the Issuer has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance,
transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been
complied with. 
 The conditions of (a)(ii) above shall not apply in the case of a corporation or entity not organized under the
laws of the United States of America, any State thereof or the District of Columbia which shall agree, in form satisfactory to the Trustee, (i) to subject itself to the jurisdiction of the United States district court for the Southern District
of New York and (ii) to indemnify and hold harmless the holders of all Securities against (A) any tax, assessment or governmental charge imposed on such holders by a jurisdiction other than the United States or any political subdivision or
taxing authority thereof or therein with respect to, and withheld on the making of, any payment of principal or interest on such Securities and which would not have been so imposed and withheld had such consolidation, merger, sale or conveyance not
been made and (B) any tax, assessment or governmental charge imposed on or relating to, and any costs or expenses involved in, such consolidation, merger, sale or conveyance. 

The restrictions in this Section 9.01 shall not apply to (i) the merger or consolidation of the Issuer with one of its
affiliates, if the Board of Directors determines in good faith that the purpose of such transaction is principally to change the Issuer’s State of incorporation or convert the Issuer’s form of organization to another form, or (ii) the
merger of the Issuer with or into a single direct or indirect wholly owned Subsidiary. 
 Nothing contained in this Article
shall apply to, limit or impose any requirements upon the consolidation or merger of any Person into the Issuer where the Issuer is the survivor of such transaction, or the acquisition by the Issuer, by purchase or otherwise, of all or any part of
the property of any other Person (whether or not affiliated with the Issuer). 
 Section 9.02 Successor Issuer
Substituted. Upon any consolidation of the Issuer with, or merger of the Issuer into, any other Person or any conveyance, transfer or lease of the properties and assets of the Issuer substantially as an entirety in accordance with
Section 9.01, the successor Person formed by such consolidation or into which the Issuer is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the
Issuer under this Indenture with the same effect as if such successor Person had been named as the Issuer herein, and thereafter, except in the case of a lease, the predecessor Person shall be relieved of all obligations and covenants under this
Indenture and the Securities. 

  
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 In case of any such consolidation, merger, sale, lease or conveyance, such changes in
phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

ARTICLE 10 

SATISFACTION AND DISCHARGE OF INDENTURE; DEFEASANCE; UNCLAIMED MONEYS 

Section 10.01 Satisfaction and Discharge of Indenture; Defeasance. (a) If at any time 

(i) the Issuer shall have paid or caused to be paid the principal of and interest on all the Securities of any series
Outstanding hereunder (other than Securities of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.09) as and when the same shall have become due and payable, or 

(ii) the Issuer shall have delivered to the Trustee for cancellation all Securities of any series theretofore
authenticated (other than any Securities of such series which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.09) or 

(iii) in the case of any series of Securities the exact amount (including the currency of payment) of principal of and
interest due on which on the dates referred to in clause (B) below can be determined at the time of making the deposit referred to in such clause, 
 (A) all the Securities of such series not theretofore delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable within one year or are to
be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and 
 (B) the Issuer shall have irrevocably deposited or caused to be deposited with the Trustee as trust funds the entire amount in cash (other than moneys repaid by the Trustee or any paying agent to the
Issuer in accordance with Section 10.04) or, in the case of any series of Securities the payments on which may only be made in Dollars, U.S. Government Obligations maturing as to principal and interest in such amounts and at such times as will
insure the availability of cash sufficient to pay on any subsequent interest payment date all interest due on such interest payment date on the Securities of such series and to pay at maturity or upon redemption all Securities of such series (in
each case other than any Securities of such series which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.09) not theretofore delivered to the Trustee for cancellation, including
principal and interest due or to become due to such date of maturity, as the case may be, 

  
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 and if, in any such case (i), (ii) or (iii), the Issuer shall also pay or cause to be paid all other
sums payable hereunder by the Issuer, including amounts due the Trustee pursuant to Section 6.06, with respect to Securities of such series, then this Indenture shall cease to be of further effect with respect to Securities of such series
(except as to (1) rights of registration of transfer, conversion and exchange of Securities of such series and the Issuer’s right of optional redemption, (2) substitution of mutilated, defaced, destroyed, lost or stolen Securities,
(3) rights of Holders of Securities to receive, solely from the trust fund described in Section 10.01(a)(iii)(B), payments of principal thereof and interest thereon, upon the original stated due dates therefor (but not upon acceleration)
and remaining rights of the Holders to receive, solely from the trust fund described in Section 10.01(a)(iii)(B), sinking fund payments, if any, (4) the rights (including the Trustee’s rights under Section 10.05) and immunities
of the Trustee hereunder and the Trustee’s obligations under Sections 10.02 and 10.04 and (5) the obligations of the Issuer under Section 3.02), and the Trustee, on demand of the Issuer accompanied by an Officer’s Certificate and
an Opinion of Counsel which complies with Section 11.05 and at the cost and expense of the Issuer, shall execute proper instruments acknowledging such satisfaction of and discharging this Indenture with respect to such series. The Issuer agrees
to reimburse the Trustee for any costs or expenses thereafter reasonably and properly incurred and to compensate the Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection with this Indenture or the
Securities of such series. 
 (b) The following subsection shall apply to the Securities of each series unless specifically
otherwise provided in a Board Resolution, Officer’s Certificate or indenture supplemental hereto provided pursuant to Section 2.03. In addition to the right to discharge of the Indenture pursuant to subsection (a) above, the Issuer,
at its option and at any time, by written notice by an officer delivered to the Trustee, may elect to have all of its obligations discharged with all Outstanding Securities of a series (“Legal Defeasance”), such discharge to be
effective on the date that the conditions set forth in clauses (i) through (iv) and (vi) of Section 10.01(d) are satisfied, and thereafter the Issuer shall be deemed to have paid and discharged the entire Debt on all the
Securities of such a series, and satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are concerned and this Indenture shall cease to be of further effect with respect to Securities of such series
(except as to (1) rights of registration of transfer, conversion and exchange of Securities of such series, (2) substitution of apparently mutilated, defaced, destroyed, lost or stolen Securities, (3) rights of Holders of Securities
to receive, solely from the trust fund described in Section 10.01(d)(i), payments of principal thereof and interest thereon, upon the original stated due dates therefor (but not upon acceleration) and remaining rights of the Holders to receive,
solely from the trust fund described in Section 10.01(d)(i), sinking fund payments, if any, (4) the rights (including the Trustee’s rights under Section 10.05) and immunities of the Trustee hereunder and the Trustee’s
obligations with respect to the Securities of such series under Sections 10.02 and 10.04 and (5) the obligations of the Issuer under Section 3.02). 
 (c) The following subsection shall apply to the Securities of each series unless specifically otherwise provided in a Board Resolution, Officer’s Certificate or indenture supplemental hereto provided
pursuant to Section 2.03. In addition to the right to discharge of 

  
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the Indenture pursuant to subsection (a) and to Legal Defeasance pursuant to subsection (b), above, the Issuer, at its option and at any time, by written notice executed by an officer
delivered to the Trustee, may elect to have its obligations under any covenant contained in this Indenture or in the Board Resolution or supplemental indenture relating to such series pursuant to Section 2.03 discharged with respect to all
Outstanding Securities of a series, this Indenture and any indentures supplemental to this Indenture with respect to such series (“Covenant Defeasance”), such discharge to be effective on the date the conditions set forth in clauses
(i) through (iii) and (v) through (vi) of Section 10.01(d) are satisfied, and such Securities shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration of
Securityholders (and the consequences of any thereof) in connection with such covenants, but shall continue to be “Outstanding” for all other purposes under this Indenture. For this purpose, such Covenant Defeasance means that, with
respect to the Outstanding Securities of a series, the Issuer may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any
reference elsewhere herein to any such covenant or by reason of reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute an Event of Default under Section 5.01(c) or
otherwise, but except as specified in this Section 10.01(c), the remainder of the Issuer’s obligations under the Securities of such series, this Indenture, and any indentures supplemental to this Indenture with respect to such series shall
be unaffected thereby. 
 (d) The following shall be the conditions to the application of Legal Defeasance under subsection
(b) or Covenant Defeasance under subsection (c) to the Securities of the applicable series: 
 (i) the
Issuer irrevocably deposits or causes to be deposited in trust with the Trustee or, at the option of the Trustee, with a trustee satisfactory to the Trustee and the Company under the terms of an irrevocable trust agreement in form and substance
satisfactory to the Trustee, cash or U.S. Government Obligations that will generate cash sufficient to pay principal of and interest on the Outstanding Securities of such series to maturity or redemption, as the case may be, and to pay all other
amounts payable by it hereunder, provided that (A) the trustee of the irrevocable trust, if any, shall have been irrevocably instructed to pay such funds or the proceeds of such U.S. Government Obligations to the Trustee and (B) the
Trustee shall have been irrevocably instructed to apply such funds or the proceeds of such U.S. Government Obligations to (x) the principal and interest on all Securities of such series on the date that such principal or interest is due and
payable and (y) any mandatory sinking fund payments on the day on which such payments are due and payable in accordance with the terms of the Indenture and the Securities of such series, and the Issuer shall also pay or cause to be paid all
other amounts payable hereunder with respect to such series; 
 (ii) the Issuer delivers to the Trustee an
Officer’s Certificate stating that all conditions precedent specified herein relating to Legal Defeasance or Covenant Defeasance, as the case may be, have been complied with, and an Opinion of Counsel to the same effect; 

  
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 (iii) no Event of Default under subsection (a), (b), (d) or (e) of
Section 5.01 shall have occurred and be continuing, and no event which with notice or lapse of time or both would become such an Event of Default shall have occurred and be continuing, on the date of such deposit; 

(iv) in the event of an election for Legal Defeasance under subsection (b), the Issuer shall have delivered to the Trustee
an Opinion of Counsel stating that (A) the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this instrument, there has been a change in the applicable Federal income
tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit, defeasance
and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would be the case if such deposit, defeasance and discharge were not to occur;

 (v) in the event of an election for Covenant Defeasance under subsection (c), the Issuer shall have
delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be effected with respect to such
Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur; and 

(vi) notwithstanding any other provisions of this subsection (d), such defeasance shall be effected in compliance with any
additional or substitute terms, conditions or limitations which may be imposed on the Issuer pursuant to Section 2.03. 
 After such
irrevocable deposit made pursuant to this Section 10.01(d) and satisfaction of the other conditions set forth in this subsection (d), the Trustee upon request shall execute proper instruments acknowledging the discharge of the Issuer’s
obligations pursuant to this Section 10.01. 
 Section 10.02 Application by Trustee of Funds Deposited for Payment
of Securities. Subject to Section 10.04, all moneys deposited with the Trustee (or other trustee) pursuant to Section 10.01 shall be held in trust and applied by it to the payment, either directly or through any paying agent (including
the Issuer acting as its own paying agent), to the Holders of the particular Securities of such series for the payment or redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal
and interest; but such money need not be segregated from other funds except to the extent required by law. 
 Section 10.03
Repayment of Moneys Held by Paying Agent. In connection with the satisfaction and discharge of this Indenture with respect to Securities of any series, all moneys 

  
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then held by any paying agent under the provisions of this Indenture with respect to such series of Securities shall, upon demand of the Issuer, be repaid to it or paid to the Trustee and
thereupon such paying agent shall be released from all further liability with respect to such moneys. 
 Section 10.04
Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years. Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the principal of, interest on or additional amounts in respect of any Security
of any series and not applied but remaining unclaimed for two years after the date upon which such principal, interest or additional amount shall have become due and payable, shall be repaid to the Issuer by the Trustee for such series or such
paying agent, and the Holder of the Securities of such series shall thereafter look only to the Issuer for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys
shall thereupon cease. 
 Section 10.05 Indemnity for U.S. Government Obligations. The Issuer shall pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government Obligations deposited pursuant to Section 10.01 or the principal or interest received in respect of such obligations. 

ARTICLE 11 

MISCELLANEOUS PROVISIONS 
 Section 11.01 No Recourse. No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect
thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Issuer or of any predecessor or successor corporation, either directly or through the Issuer or any such predecessor or
successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely
corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Issuer or of any predecessor or successor corporation, or any
of them, because of the creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such
personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the
creation of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a condition
of, and as a consideration for, the execution of this Indenture and the issuance of such Securities. 
 Section 11.02
Provisions of Indenture for the Sole Benefit of Parties and Holders of Securities. Nothing in this Indenture or in the Securities, expressed or implied, shall give or be construed to give to any person, firm or corporation, other than the
parties hereto and their successors and the Holders of the Securities any legal or equitable right, remedy or claim under 

  
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this Indenture or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and their successors and of the Holders of
the Securities. 
 Section 11.03 Successors and Assigns of Issuer Bound by Indenture. All the covenants,
stipulations, promises and agreements contained in this Indenture by or on behalf of the Issuer shall bind its successors and assigns, whether so expressed or not. 
 Section 11.04 Notices and Demands on Issuer, Trustee and Holders of Securities. Any notice or demand which by any provision of this Indenture is required or permitted to be given or served by
the Trustee or by the Holders of Securities to or on the Issuer may be given or served by being deposited postage prepaid, first-class mail (except as otherwise specifically provided herein) addressed (until another address of the Issuer is filed by
the Issuer with the Trustee) to Emergent BioSolutions Inc., 2273 Research Boulevard, Suite 400, Rockville, Maryland 20850, Attn: Chief Financial Officer. Any notice, direction, request or demand by the Issuer or any Holder of Securities to or upon
the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if given or made at                     ,
                    , Attn:                     .

 Where this Indenture provides for notice to Holders of Securities, such notice shall be sufficiently given (unless otherwise
herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder entitled thereto, at his or her last address as it appears in the Security register. In case, by reason of the suspension of or irregularities in
regular mail service, it shall be impracticable to mail notice of any event to Holders of Securities when said notice is required to be given pursuant to any provision of this Indenture or of the Securities, then any manner of giving such notice as
shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice. 
 In case, by reason of the
suspension of or irregularities in regular mail service, it shall be impracticable to mail notice to the Issuer when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be
satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice. 
 Neither the failure to give notice, nor
any defect in any notice so given, to any particular Holder of a Security shall affect the sufficiency of such notice with respect to other Holders of Securities given as provided above. 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such
notice either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver. 
 Section 11.05 Officer’s Certificates and Opinions of Counsel; Statements to Be
Contained Therein. Upon any application or demand by the Issuer to the Trustee to take any action under any of the provisions of this Indenture, the Issuer shall furnish to the Trustee an Officer’s Certificate stating that all conditions
precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the 

  
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opinion of such counsel all such conditions precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or opinion need be furnished. 
 Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include (a) a
statement that the person making such certificate or opinion has read such covenant or condition, (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such
certificate or opinion are based, (c) a statement that, in the opinion of such person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant
or condition has been complied with and (d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with. 
 Any certificate, statement or opinion of an officer of the Issuer may be based, insofar as it relates to legal matters, upon a certificate or opinion of or representations by counsel, unless such officer
knows that the certificate or opinion or representations with respect to the matters upon which his or her certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that the same are
erroneous. Any certificate, statement or opinion of counsel may be based, insofar as it relates to factual matters, information with respect to which is in the possession of the Issuer, upon the certificate, statement or opinion of or
representations by an officer or officers of the Issuer, unless such counsel knows that the certificate, statement or opinion or representations with respect to the matters upon which his or her certificate, statement or opinion may be based as
aforesaid are erroneous, or in the exercise of reasonable care should know that the same are erroneous. 
 Any certificate,
statement or opinion of an officer of the Issuer or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of or representations by an accountant or firm of accountants in the employ of the Issuer, unless
such officer or counsel, as the case may be, knows that the certificate or opinion or representations with respect to the accounting matters upon which his or her certificate, statement or opinion may be based as aforesaid are erroneous, or in the
exercise of reasonable care should know that the same are erroneous. 
 Any certificate or opinion of any independent firm of
public accountants filed with and directed to the Trustee shall contain a statement that such firm is independent. 

Section 11.06 Payments Due on Saturdays, Sundays and Holidays. If the date of maturity of interest on or principal of the
Securities of any series or the date fixed for redemption or repayment of any such Security, or the last day on which a Holder has the right to convert any Security, shall not be a Business Day, then payment of interest or principal, or any
conversion, need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date of maturity or the date fixed for redemption or on such last day for conversion, and no interest
shall accrue for the period after such date. 

  
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 Section 11.07 Conflict of Any Provision of Indenture With Trust Indenture Act of
1939. If and to the extent that any provision of this Indenture limits, qualifies or conflicts with another provision included in this Indenture by operation of Sections 310 to 317, inclusive, of the Trust Indenture Act of 1939, such
incorporated provision shall control. 
 Section 11.08 New York Law to Govern. This Indenture and each Security
shall be deemed to be a contract under the laws of the State of New York, and for all purposes shall be governed by and construed in accordance with the laws of such State without regard to any principle of conflict of laws that would require or
permit the application of the laws of any other jurisdiction, except as may otherwise be required by mandatory provisions of law. 
 Section 11.09 Counterparts. This Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the
same instrument. 
 Section 11.10 Effect of Headings. The Article and Section headings herein and the Table of
Contents are for convenience only and shall not affect the construction hereof. 
 Section 11.11 Actions by
Successor. Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any board of directors or its equivalent, committee or officer of the Issuer shall and may be done and performed with like
force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful successor of the Issuer. 
 Section 11.12 Severability. In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or
unenforceable provision had never been contained herein or therein. 
 ARTICLE 12 

REDEMPTION OF SECURITIES AND SINKING FUNDS 
 Section 12.01 Applicability of Article. The provisions of this Article shall be applicable to the Securities of any series which are redeemable before their maturity or to any sinking fund for
the retirement of Securities of a series, except as otherwise specified, as contemplated by Section 2.03 for Securities of such series. 
 Section 12.02 Notice of Redemption; Partial Redemptions. Notice of redemption to the Holders of Securities of any series to be redeemed as a whole or in part at the option of the Issuer shall
be given by mailing notice of such redemption by first class mail, postage prepaid, at least 30 days and not more than 60 days prior to the date fixed for redemption to such Holders of Securities of such series at their last addresses as they shall
appear upon the Security register. Any notice which is given in the manner herein provided shall be conclusively presumed to have been duly given, whether or not the Holder receives the notice. Failure to give notice or any defect in the notice to
the Holder of any Security of a series designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Security of such series. 

  
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 The notice of redemption to each such Holder shall specify the principal amount of each
Security of such series held by such Holder to be redeemed, the date fixed for redemption, the redemption price, the place or places of payment, that payment will be made upon presentation and surrender of such Securities, that such redemption is
pursuant to the mandatory or optional sinking fund, or both, if such be the case, that interest accrued to the date fixed for redemption will be paid as specified in such notice and that on and after said date interest thereon or on the portions
thereof to be redeemed will cease to accrue and shall also specify, if applicable, the conversion price then in effect and the date on which the right to convert such Securities or the portions thereof to be redeemed will expire. In case any
Security of a series is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state that on and after the date fixed for redemption, upon surrender of such Security, a
new Security or Securities of such series in principal amount equal to the unredeemed portion thereof will be issued. 
 The
notice of redemption of Securities of any series to be redeemed at the option of the Issuer shall be given by the Issuer or, at the Issuer’s request, by the Trustee in the name and at the expense of the Issuer. 

On or before the redemption date specified in the notice of redemption given as provided in this Section, the Issuer will deposit with
the Trustee or with one or more paying agents (or, if the Issuer is acting as its own paying agent, set aside, segregate and hold in trust as provided in Section 3.04) an amount of money sufficient to redeem on the redemption date all the
Securities of such series so called for redemption (other than those Securities theretofore surrendered for conversion into Common Stock in accordance with their terms) at the appropriate redemption price, together with accrued interest to the date
fixed for redemption. If any Security called for redemption is converted pursuant hereto and in accordance with the terms thereof, any money deposited with the Trustee or any paying agent or so segregated and held in trust for the redemption of such
Security shall be paid to the Issuer upon the Issuer’s request, or, if then held by the Issuer, shall be discharged from such trust. The Issuer will deliver to the Trustee at least 10 days prior to the date the notice required to be delivered
to the Holders is to be sent (unless a shorter time period shall be acceptable to the Trustee) an Officer’s Certificate (which need not comply with Section 11.05) stating the aggregate principal amount of Securities to be redeemed. In case
of a redemption at the election of the Issuer prior to the expiration of any restriction on such redemption, the Issuer shall deliver to the Trustee, prior to the giving of any notice of redemption to Holders pursuant to this Section, an
Officer’s Certificate stating that such restriction has been complied with. 
 If less than all the Securities of a series
are to be redeemed, the Trustee shall select, in such manner as it shall deem appropriate and fair, Securities of such series to be redeemed in whole or in part. Securities may be redeemed in part in multiples equal to the minimum authorized
denomination for Securities of such series or any multiple thereof. The Trustee shall promptly notify the Issuer in writing of the Securities of such series selected for redemption and, in the case of any Securities of such series selected for
partial redemption, the principal amount thereof to be redeemed. For all purposes of this Indenture, unless the context otherwise requires, 

  
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all provisions relating to the redemption of Securities of any series shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of
such Security which has been or is to be redeemed. If any Security selected for partial redemption is surrendered for conversion after such selection, the converted portion of such Security shall be deemed (so far as may be possible) to be the
portion selected for redemption. 
 Section 12.03 Payment of Securities Called for Redemption. If notice of
redemption has been given as above provided, the Securities or portions of Securities specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest
accrued to the date fixed for redemption, and on and after said date (unless the Issuer shall default in the payment of such Securities at the redemption price, together with interest accrued to said date) interest on the Securities or portions of
Securities so called for redemption shall cease to accrue, and such Securities shall cease from and after the date fixed for redemption to be convertible into Common Stock (to the extent otherwise convertible in accordance with their terms), if
applicable, and cease to be entitled to any benefit or security under this Indenture, and except as provided in the paragraph below, the Holders thereof shall have no right in respect of such Securities except the right to receive the redemption
price thereof and unpaid interest to the date fixed for redemption. On presentation and surrender of such Securities at a place of payment specified in said notice, said Securities or the specified portions thereof shall be paid and redeemed by the
Issuer at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided, that payment of interest becoming due on or prior to the date fixed for redemption shall be payable to the Holders
of such Securities registered as such on the relevant record date subject to the terms and provisions of Sections 2.03 and 2.07 hereof. 
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid or duly provided for, bear interest from the date fixed for redemption at
the rate of interest or Yield to Maturity (in the case of an Original Issue Discount Security) borne by such Security and, if applicable, such Security shall remain convertible into Common Stock until the principal of such Security shall have been
paid or duly provided for. 
 Upon presentation of any Security redeemed in part only, the Issuer shall execute and the Trustee
shall authenticate and deliver to or on the order of the Holder thereof, at the expense of the Issuer, a new Security or Securities of such series, of authorized denominations, in principal amount equal to the unredeemed portion of the Security so
presented. 
 Section 12.04 Exclusion of Certain Securities from Eligibility for Selection for Redemption.
Securities shall be excluded from eligibility for selection for redemption if they are identified by registration and certificate number in an Officer’s Certificate delivered to the Trustee at least 40 days prior to the last date on which
notice of redemption may be given as being owned of record and beneficially by, and not pledged or hypothecated by either (a) the Issuer or (b) an entity specifically identified in such written statement as directly or indirectly
controlling or controlled by or under direct or indirect common control with the Issuer. 
 Section 12.05 Mandatory and
Optional Sinking Funds. The minimum amount of any sinking fund payment provided for by the terms of the Securities of any series is herein referred 

  
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to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of the Securities of any series is herein referred to as an
“optional sinking fund payment”. The date on which a sinking fund payment is to be made is herein referred to as the “sinking fund payment date”. 

In lieu of making all or any part of any mandatory sinking fund payment with respect to any series of Securities in cash, the Issuer may
at its option (a) deliver to the Trustee Securities of such series theretofore purchased or otherwise acquired (except upon redemption pursuant to the mandatory sinking fund) by the Issuer or receive credit for Securities of such series (not
previously so credited) theretofore purchased or otherwise acquired (except as aforesaid) by the Issuer and delivered to the Trustee for cancellation pursuant to Section 2.10 and, if applicable, receive credit for Securities (not previously so
credited) converted into Common Stock and so delivered to the Trustee for cancellation, (b) receive credit for optional sinking fund payments (not previously so credited) made pursuant to this Section, or (c) receive credit for Securities
of such series (not previously so credited) redeemed by the Issuer through any optional redemption provision contained in the terms of such series. Securities so delivered or credited shall be received or credited by the Trustee at the sinking fund
redemption price specified in such Securities. 
 On or before the 60th day next preceding each sinking fund payment date for
any series, the Issuer will deliver to the Trustee an Officer’s Certificate (which need not contain the statements required by Section 11.05) (a) specifying the portion of the mandatory sinking fund payment to be satisfied by payment
of cash and the portion to be satisfied by credit of Securities of such series and the basis for such credit, (b) stating that none of the Securities of such series for which credit will be taken has theretofore been so credited,
(c) stating that no defaults in the payment of interest or Events of Default with respect to such series have occurred (which have not been waived or cured) and are continuing and (d) stating whether or not the Issuer intends to exercise
its right to make an optional sinking fund payment with respect to such series and, if so, specifying the amount of such optional sinking fund payment which the Issuer intends to pay on or before the next succeeding sinking fund payment date. Any
Securities of such series to be credited and required to be delivered to the Trustee in order for the Issuer to be entitled to credit therefor as aforesaid which have not theretofore been delivered to the Trustee shall be delivered for cancellation
pursuant to Section 2.10 to the Trustee with such Officer’s Certificate (or reasonably promptly thereafter if acceptable to the Trustee). Such Officer’s Certificate shall be irrevocable and upon its receipt by the Trustee the Issuer
shall become unconditionally obligated to make all the cash payments or payments therein referred to, if any, on or before the next succeeding sinking fund payment date. Failure of the Issuer, on or before any such 60th day, to deliver such
Officer’s Certificate and Securities specified in this paragraph, if any, shall not constitute a default but shall constitute, on and as of such date, the irrevocable election of the Issuer that the mandatory sinking fund payment for such
series due on the next succeeding sinking fund payment date shall be paid entirely in cash without the option to deliver or credit Securities of such series in respect thereof. 

If the sinking fund payment or payments (mandatory or optional or both) to be made in cash on the next succeeding sinking fund payment
date plus any unused balance of any preceding sinking fund payments made in cash shall exceed $50,000 (or the equivalent thereof in any Foreign Currency or a lesser sum in Dollars or in any Foreign Currency if the Issuer shall so

  
 48 

 
request) with respect to the Securities of any particular series, such cash shall be applied on the next succeeding sinking fund payment date to the redemption of Securities of such series at the
sinking fund redemption price together with accrued interest to the date fixed for redemption. If such amount shall be $50,000 (or the equivalent thereof in any Foreign Currency) or less and the Issuer makes no such request then it shall be carried
over until a sum in excess of $50,000 (or the equivalent thereof in any Foreign Currency) is available, which delay in accordance with this paragraph shall not be a default or breach of the obligation to make such payment. The Trustee shall select,
in the manner provided in Section 12.02, for redemption on such sinking fund payment date a sufficient principal amount of Securities of such series to which such cash may be applied, as nearly as may be, and shall (if requested in writing by
the Issuer) inform the Issuer of the serial numbers of the Securities of such series (or portions thereof) so selected. The Trustee, in the name and at the expense of the Issuer (or the Issuer, if it shall so request the Trustee in writing), shall
cause notice of redemption of the Securities of such series to be given in substantially the manner provided in Section 12.02 (and with the effect provided in Section 12.03) for the redemption of Securities of such series in part at the
option of the Issuer. The amount of any sinking fund payments not so applied or allocated to the redemption of Securities of such series shall be added to the next cash sinking fund payment for such series and, together with such payment, shall be
applied in accordance with the provisions of this Section. Any and all sinking fund moneys held on the stated maturity date of the Securities of any particular series (or earlier, if such maturity is accelerated), which are not held for the payment
or redemption of particular Securities of such series, shall be applied, together with other moneys, if necessary, sufficient for the purpose, to the payment of the principal of, and interest on, the Securities of such series at maturity. The
Issuer’s obligation to make a mandatory or optional sinking fund payment shall automatically be reduced by an amount equal to the sinking fund redemption price allocable to any Securities or portions thereof called for redemption pursuant to
the preceding paragraph on any sinking fund payment date and converted into Common Stock in accordance with the terms of such Securities; provided that, if the Trustee is not the conversion agent for the Securities, the Issuer or such
conversion agent shall give the Trustee written notice on or prior to the date fixed for redemption of the principal amount of Securities or portions thereof so converted. 
 On or before each sinking fund payment date, the Issuer shall pay to the Trustee in cash or shall otherwise provide for the payment of all interest accrued to the date fixed for redemption on Securities
to be redeemed on such sinking fund payment date. 
 The Trustee shall not redeem or cause to be redeemed any Securities of a
series with sinking fund moneys or give any notice of redemption of Securities for such series by operation of the sinking fund during the continuance of a default in payment of interest on such Securities or of any Event of Default except that,
where the mailing of notice of redemption of any Securities shall theretofore have been made, the Trustee shall redeem or cause to be redeemed such Securities, provided that it shall have received from the Issuer a sum sufficient for such
redemption. Except as aforesaid, any moneys in the sinking fund for such series at the time when any such default or Event of Default shall occur, and any moneys thereafter paid into the sinking fund, shall, during the continuance of such default or
Event of Default, be deemed to have been collected under Article 5 and held for the payment of all such Securities. In case such Event of Default shall have been waived as provided in Section 5.10, or the default cured on or before the 60th day
preceding the sinking fund payment date in any year, such moneys shall thereafter be applied on such sinking fund payment date in accordance with this Section to the redemption of such Securities. 

[Signature pages follow] 

  
 49 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of
                    . 
  

			
	EMERGENT BIOSOLUTIONS INC.
		
	By:	 	  

		 	 Name:

Title:

		
	Attest:	 	
		
	By:	 	  

		 	 Name:

Title:

	
	                    , Trustee
		
	By:	 	  

		 	 Name:

Title:

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