Document:

EX-10.1

 Exhibit 10.1 

SEVENTH AMENDED AND RESTATED 

INVESTORS’ RIGHTS AGREEMENT 

THIS SEVENTH AMENDED AND RESTATED INVESTORS’
RIGHTS AGREEMENT is made as of [●], 2020, by and among Sprinklr, Inc., a Delaware corporation (the “Company”), and each of the investors listed on SCHEDULE A
hereto, each of which is referred to in this Agreement as an “Investor,” and (with respect to Section 6.12 hereof only) Intel Capital Corporation (“ICC”). 

RECITALS 
 A. The
Company and certain of the Investors are parties to the Series G-1/G-2 Preferred Stock Purchase Agreement, dated as of August 20, 2020 (the “Purchase Agreement”). 

B. Certain of the Investors (the “Existing Investors”) and the Company are parties to the Sixth Amended and
Restated Investors’ Rights Agreement, dated as of June 16, 2016, by and among the Company and the other parties thereto (the “Prior Agreement”). 

C. Pursuant to Section 6.6 of the Prior Agreement, subject to certain inapplicable exceptions and the rights of ICC to consent to
any amendment or waiver of Sections 3.3(a) and 6.6(A) thereof, the written consent of (i) the Company, (ii) the holders of at least a majority of the outstanding shares of Preferred Stock, voting as a separate class on an as
converted basis, and (iii) ICC, in respect of amendments to Sections 3.3(a) and 6.6(A) as pertain to ICC, is required to amend the Prior Agreement. 

D. In order to induce the Company to enter into the Purchase Agreement and to induce certain of the Investors to invest funds in the
Company pursuant to the Purchase Agreement, the requisite Investors, ICC and the Company hereby amend and restate the Prior Agreement and agree that this Agreement shall govern the rights of the Investors to receive certain information from the
Company, and to participate in future equity offerings by the Company, and shall govern certain other matters as set forth in this Agreement. 

NOW, THEREFORE, the parties, intending to be legally bound, hereby agree as follows: 

1. Definitions. For purposes of this Agreement: 

1.1 “Affiliate” means, with respect to any specified Person, any other Person who,
directly or indirectly, controls, is controlled by, or is under common control with such Person, including without limitation any Person’s parent and any subsidiary or subsidiaries, general partner, managing member, officer or director of such
Person or any venture capital fund now or hereafter existing that is controlled by one or more general partners or managing members of, or shares the same management company with, such Person. 

1.2 “Battery” means Battery Ventures IX, L.P. and Battery Investment Partners IX,
LLC. 
 1.3 “Common Stock” means shares of the Company’s
common stock, par value $0.00003 per share. 

  
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 1.4 “Damages” means any loss, damage, claim or liability
(joint or several) to which a party hereto may become subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises out of or is based
upon (a) any untrue statement or alleged untrue statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or
supplements thereto; (b) an omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (c) any violation or alleged violation by
the indemnifying party (or any of its agents or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law. 

1.5 “Derivative Securities” means any securities or rights convertible into, or exercisable or
exchangeable for (in each case, directly or indirectly), Common Stock, including options and warrants. 
 1.6
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 

1.7 “Excluded Registration” means (a) a registration relating to the sale of securities to
employees of the Company or a subsidiary pursuant to a stock option, stock purchase, or similar plan; (b) a registration relating to an SEC Rule 145 transaction; (c) a registration on any form that does not include
substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities; or (d) a registration in which the only Common Stock being registered is Common Stock
issuable upon conversion of debt securities that are also being registered. 
 1.8 “Form S-1”
means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC. 

1.9 “Form S-3” means such form under the Securities Act as in effect on the date hereof or any registration form under
the Securities Act subsequently adopted by the SEC that permits incorporation of substantial information by reference to other documents filed by the Company with the SEC. 

1.10 “GAAP” means generally accepted accounting principles in the United States. 

1.11 “H&F” means H&F Splash Holdings IX, L.P. and its Affiliates that hold Shares and their respective
successors and permitted assigns that hold Shares. 
 1.12 “Holder” means any Investor owning or having the
right to acquire Securities or any transferee thereof and, solely with respect to Section 2 of this Agreement, any 2020 Note Investor owning Securities. 

1.13 “Immediate Family Member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, of a natural person referred to herein. 

  
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 1.14 “Initiating Holders” means
(a) collectively, Holders who properly initiate a registration request under this Agreement and/or (b) H&F. 
 1.15
“IPO” means the Company’s first underwritten public offering of its Common Stock under the Securities Act. 

1.16 “Major Investor” means any Investor that, individually or together with such Investor’s
Affiliates, (a) acquired pursuant to the Series A Purchase Agreement, or holds, at least 2,499,999 shares of Series A Preferred Stock (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification
effected after the date hereof), (b) acquired pursuant to the Series B Purchase Agreement, or holds, at least 9,000,000 shares of Series B Preferred Stock (as adjusted for any stock split, stock dividend, combination, or other recapitalization
or reclassification effected after the date hereof), (c) acquired pursuant to the Series C Purchase Agreement, or holds, at least 4,500,000 shares of Series C Preferred Stock (as adjusted for any stock split, stock dividend, combination, or
other recapitalization or reclassification effected after the date hereof), (d) acquired pursuant to the Series D Purchase Agreement, or holds, at least 4,500,000 shares of Series D Preferred Stock (as adjusted for any stock split, stock
dividend, combination, or other recapitalization or reclassification effected after the date hereof), (e) acquired pursuant to the Series D-2 Purchase Agreement, or holds, at least 4,500,000 shares of Series D-2 Preferred Stock (as adjusted for
any stock split, stock dividend, combination, or other recapitalization or reclassification effected after the date hereof), (f) acquired pursuant to the Series E-1/E-2 Purchase Agreement, or holds, at least 4,500,000 shares of Series E-2
Preferred Stock (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification effected after the original issuance date of the Series E-2 Preferred Stock); provided, however, that, solely
with respect to this clause (f) of this Section 1.16, if such Investor acquires or invests in an enterprise which has products or services which compete directly or indirectly with those of the Company, as determined by the Board, then
such Investor shall not be a Major Investor for purposes of Sections 3.1, 3.2 and 3.3; (g) acquired pursuant to the Series F Purchase Agreement, or holds, at least 5,000,000 shares of Series F Preferred Stock (as adjusted for any stock split,
stock dividend, combination, or other recapitalization or reclassification effected after the original issuance date of the Series F Preferred Stock); or (f) acquired pursuant to the Purchase Agreement, or holds, at least 5,000,000 shares of
Series G-2 Preferred Stock (as adjusted for any stock split, stock dividend, combination, or other recapitalization or reclassification effected after the date hereof). In the event an Investor holding shares of Series E-2 Preferred Stock believes
it has acquired or invested in an enterprise which has products or services which compete directly or indirectly with those of the Company, such Investor shall promptly notify the Company of such acquisition or investment. 

1.17 “New Securities” means, collectively, equity securities of the Company or its subsidiaries,
whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity
securities. 

  
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 1.18 “Person” means any individual, corporation, partnership,
trust, limited liability company, association or other entity. 
 1.19 “Preferred Director” has the meaning
ascribed to such term in the Voting Agreement. 
 1.20 “Preferred Stock” means the Company’s Series A
Preferred Stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock, Series D-2 Preferred Stock, Series E-1 Preferred Stock, Series E-2 Preferred Stock, Series F Preferred Stock, Series G-1 Preferred Stock and Series G-2
Preferred Stock. 
 1.21 “Registrable Securities” means (a) the Common Stock issuable or issued
upon conversion of the Preferred Stock; (b) any Common Stock, or any Common Stock issued or issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company, acquired by the Investors on or after
the date hereof; (c) any Common Stock issued or issuable (directly or indirectly) upon conversion of the 2020 Notes acquired by the Note Investors; and (d) any Common Stock issued as (or issuable upon the conversion or
exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clauses (a), (b) and (c) above; excluding in all
cases, however, any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Section 6.1 (other than with respect to the 2020 Note Investors), and excluding for
purposes of Section 2 any shares for which registration rights have terminated pursuant to Section 2.14 of this Agreement. 

1.22 “Registrable Securities then outstanding” means the number of shares determined by adding
the number of shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities.

 1.23 “Right of First Refusal and Co-Sale Agreement” means that certain Seventh Amended and
Restated Right of First Refusal and Co-Sale Agreement dated as of the date hereof by and among the Company and the other parties thereto. 

1.24 “SEC” means the Securities and Exchange Commission. 

1.25 “SEC Rule 144” means Rule 144 promulgated by the SEC under the Securities Act. 

1.26 “SEC Rule 145” means Rule 145 promulgated by the SEC under the Securities Act. 

1.27 “Securities” means (a) any Common Stock of the Company, including any Common
Stock of the Company issuable or issued upon conversion of (1) the Preferred Stock or (2) solely with respect to Section 2 of this Agreement, the 2020 Notes; and (b) any Common Stock of the Company issued as (or issuable
upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, such above-described securities. 

  
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 1.28 “Securities Act” means the Securities Act
of 1933, as amended, and the rules and regulations promulgated thereunder. 
 1.29 “Selling
Expenses” means all underwriting discounts, selling commissions, and stock transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and
disbursements of the Selling Holder Counsel borne and paid by the Company as provided in Section 2.6. 
 1.30 “Series A
Purchase Agreement” means that certain Series A Preferred Stock Purchase Agreement dated as of August 29, 2011 by and among the Company and the other parties thereto. 

1.31 “Series B Purchase Agreement” means that certain Series B Preferred Stock Purchase Agreement
dated as of February 5, 2013 by and among the Company and the other parties thereto. 
 1.32 “Series C Purchase
Agreement” means that certain Series C Preferred Stock Purchase Agreement dated as of October 30, 2013 by and among the Company and the other parties thereto. 

1.33 “Series D Purchase Agreement” means that certain Series D Preferred Stock Purchase Agreement
dated as of April 10, 2014 by and among the Company and the other parties thereto. 
 1.34 “Series D-2 Purchase
Agreement” means that certain Series D-2 Preferred Stock Purchase Agreement dated as of December 19, 2014 by and among the Company and the other parties thereto. 

1.35 “Series E-1/E-2 Purchase Agreement” means that certain Series E-1/E-2 Preferred Stock
Purchase Agreement dated as of March 24, 2015 by and among the Company and the other parties thereto. 
 1.36 “Series
F Purchase Agreement” means that certain Series F Preferred Stock Purchase Agreement dated as of June 16, 2016 by and among the Company and the other parties thereto. 

1.37 “Shares” means the shares of Preferred Stock held from time to time by the Investors listed on SCHEDULE
A hereto and their successors and permitted assigns. 
 1.38 “Voting
Agreement” means that certain Seventh Amended and Restated Voting Agreement dated as of the date hereof by and among the Company and the other parties thereto. 

1.39 “2020 Note Investors” means each of Palette Investments, LLC and Sixth Street Specialty
Lending, Inc. and their respective Affiliates. 
 1.40 “2020 Note Purchase Agreement” means
that certain Senior Subordinated Secured Convertible Note Purchase Agreement, dated on or around May 20, 2020, by and among 

  
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the Company, certain of the Company’s subsidiaries, the 2020 Note Investors and the Administrative Agent (as defined below), pursuant to which the Investors will issue the 2020 Notes (as
defined below). 
 1.41 “2020 Notes” means those certain senior subordinated secured
convertible notes issued pursuant to the 2020 Note Purchase Agreement in an aggregate principal amount of up to $150,000,000. 
 1.42
“Administrative Agent” means Sixth Street Specialty Lending, Inc. 
 2. Registration Rights. The Company
covenants and agrees as follows: 
 2.1 Demand Registration. 

(a) Form S-1 Demand. If at any time one hundred eighty (180) days after the effective date of the registration statement for the
IPO, the Company receives a request from either (x) Holders of at least forty percent (40%) of the shares of Common Stock issued or issuable upon conversion of the Preferred Stock or (y) H&F (provided, that H&F shall be
entitled to provide a total of two (2) Demand Notices pursuant to this Section 2.1) that the Company file a Form S-1 registration statement with respect to at least twenty percent (20%) of the Registrable Securities then outstanding
(or a lesser percent if the anticipated aggregate offering price, net of Selling Expenses, would exceed $20,000,000), then the Company shall (i) within ten (10) days after the date such request is given, give notice thereof (the
“Demand Notice”) to all Holders other than the Initiating Holders; and (ii) use its commercially reasonable efforts to, as soon as practicable, and in any event within sixty (60) days after the date such
request is given by the Initiating Holders, file a Form S-1 registration statement under the Securities Act covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities
requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of
Section 2.1(c) and Section 2.3. 
 (b) Form S-3 Demand. If at any time when it is eligible to use a Form S-3 registration
statement, the Company receives from any Holder or Holders of Registrable Securities a request that the Company file a Form S-3 registration statement with respect to outstanding Registrable Securities of such Holder or Holders having an anticipated
aggregate offering price, net of Selling Expenses, of at least $1,000,000, then the Company shall (i) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders;
and (ii) as soon as practicable, and in any event within forty-five (45) days after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under the Securities Act covering all Registrable
Securities requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the
limitations of Section 2.1(c) and Section 2.3. 
 (c) Notwithstanding the foregoing obligations, if the Company furnishes to
Holders requesting a registration pursuant to this Section 2.1 a certificate signed by 

  
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the Company’s chief executive officer stating that in the good faith judgment of the Company’s Board of Directors (the “Board”) it would be materially
detrimental to the Company and its stockholders for such registration statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would
(i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide
business purpose for preserving as confidential; or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect to such
filing, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly, for a period of (1) not more than ninety (90) days after the request of the Initiating Holders is given for any
registration pursuant to Section 2.1(a), and (2) not more than sixty (60) days after the request of the Initiating Holders is given for any registration pursuant to Section 2.1(b); provided, however, that the
Company may not invoke this right more than twice in any twelve (12) month period; and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such ninety-day or
sixty-day period, as applicable, other than an Excluded Registration. 
 (d) The Company shall not be obligated to effect, or to
take any action to effect, any registration pursuant to Section 2.1(a): (i) during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is one
hundred eighty (180) days after the effective date of, a Company-initiated registration, provided, that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become
effective; (ii) after the Company has effected two (2) registrations pursuant to Section 2.1(a); or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately
registered on Form S-3 pursuant to a request made pursuant to Section 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Section 2.1(b): (1) during the period
that is thirty (30) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided, that the Company
is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (2) if the Company has effected two (2) registrations pursuant to Section 2.1(b) within the twelve
(12) month period immediately preceding the date of such request. A registration shall not be counted as “effected” for purposes of this Section 2.1(d) until such time as the applicable registration statement has been declared
effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and forfeit their right to one demand registration statement pursuant to Section 2.6, in
which case such withdrawn registration statement shall be counted as “effected” for purposes of this Section 2.1(d). 
 2.2
Company Registration. If the Company proposes to register (including, for this purpose, a registration effected by the Company for stockholders other than the Holders) any of its Common Stock under the Securities Act in connection with the
public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at such time, promptly give each Holder notice of such registration. Upon the request of each Holder given within twenty (20) days
after such notice is given by the Company, the Company shall, subject to the provisions of Section 2.3, cause to be registered all of the Registrable Securities that each such 

  
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Holder has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this Section 2.2 before the
effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall be borne by the Company in accordance
with Section 2.6. 
 2.3 Underwriting Requirements. 

(a) If, pursuant to Section 2.1, the Initiating Holders intend to distribute the Registrable Securities covered by their request
by means of an underwriting, they shall so advise the Company as a part of their request made pursuant to Section 2.1, and the Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the Company and
shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such Holder’s
participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with
the Company as provided in Section 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting. Notwithstanding any other provision of this Section 2.3, if the underwriter(s)
advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holders shall so advise all Holders of Registrable Securities that otherwise would be
underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of Registrable Securities, including the Initiating Holders, in proportion (as nearly as
practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders; provided, however, that the number of Registrable Securities held by the Holders
to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters
may round the number of shares allocated to any Holder to the nearest 100 shares. 
 (b) In connection with any offering involving
an underwriting of shares of the Company’s capital stock pursuant to Section 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the
underwriting as agreed upon between the Company and its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of
securities, including Registrable Securities, requested by stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the underwriters in their reasonable discretion determine is
compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such securities, including Registrable Securities, which the underwriters and the Company in their sole discretion
determine will not jeopardize the success of the offering. If the underwriters determine that less than all of the Registrable Securities requested to be registered can be included in such offering, then the Registrable Securities that are included
in such offering shall be allocated among the selling Holders in proportion (as nearly as practicable to) the number of Registrable Securities owned by 

  
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each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in accordance with the above provisions, the
Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included in the offering be reduced unless
all other securities (other than securities to be sold by the Company) are first entirely excluded from the offering, or (ii) the number of Registrable Securities included in the offering be reduced below twenty five percent (25%) of the
total number of securities included in such offering, unless such offering is the IPO, in which case the selling Holders may be excluded further if the underwriters make the determination described above and no other stockholder’s securities
are included in such offering. For purposes of the provision in this Section 2.3(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners,
retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be
deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included in such “selling
Holder,” as defined in this sentence. 
 (c) For purposes of Section 2.1, a registration shall not be counted as
“effected” if, as a result of an exercise of the underwriter’s cutback provisions in Section 2.3(a), fewer than fifty percent (50%) of the total number of Registrable Securities that Holders have requested to be included in
such registration statement are actually included. 
 2.4 Obligations of the Company. Whenever required under this Section 2 to
effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 
 (a) prepare
and file with the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the
Registrable Securities registered thereunder, keep such registration statement effective for a period of up to one hundred twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed;

 (b) prepare and file with the SEC such amendments and supplements to such registration statement, and the prospectus used in
connection with such registration statement, as may be necessary to comply with the Securities Act in order to enable the disposition of all securities covered by such registration statement; 

(c) furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as required by the
Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities; 

(d) use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such
other securities or blue-sky laws of 

  
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such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company shall not be required to qualify to do business or to file a general consent to
service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 

(e) in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual
and customary form, with the underwriter(s) of such offering; 
 (f) use its commercially reasonable efforts to cause all such
Registrable Securities covered by such registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then
listed; 
 (g) provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and
provide a CUSIP number for all such Registrable Securities, in each case not later than the effective date of such registration; 

(h) promptly make available for inspection by the selling Holders, any underwriter(s) participating in any disposition pursuant to
such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all financial and other records, pertinent corporate documents, and properties of the Company, and cause
the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or advisable to verify the
accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith; 
 (i)
notify each selling Holder, promptly after the Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed;
and 
 (j) after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the
Company amend or supplement such registration statement or prospectus. 
 2.5 Furnish Information. It shall be a condition precedent
to the obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the Registrable
Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder’s Registrable Securities. 

2.6 Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or
qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees and disbursements of one counsel
for the selling Holders (“Selling Holder Counsel”) not to exceed $50,000, shall be borne and paid by the 

  
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Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Section 2.1 if the registration request is
subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be
included in the withdrawn registration), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Section 2.1(a) or Section 2.1(b), as the case may be; provided
further that if, at the time of such withdrawal, the Holders shall have learned of a material adverse change in the condition, business, or prospects of the Company from that known to the Holders at the time of their request and have withdrawn
the request with reasonable promptness after learning of such information then the Holders shall not be required to pay any of such expenses and shall not forfeit their right to one registration pursuant to Section 2.1(a) or
Section 2.1(b). All Selling Expenses relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf.

 2.7 Delay of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any
registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.8 Indemnification. If any Registrable Securities are included in a registration statement under this Section 2: 

(a) To the extent permitted by law, the Company will indemnify and hold harmless each selling Holder, and the partners, members,
officers, directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the Securities Act) for each such Holder; and each Person, if any, who controls such Holder or underwriter
within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or other aforementioned Person any legal or other expenses reasonably incurred thereby
in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this Section 2.8(a) shall not apply to
amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable for any Damages to the extent that they
arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in
connection with such registration. 
 (b) To the extent permitted by law, each selling Holder, severally and not jointly, will
indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel and
accountants for the Company, any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such underwriter or other Holder, against any Damages, in each
case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished 

  
 11 

 
by or on behalf of such selling Holder expressly for use in connection with such registration; and each such selling Holder will pay to the Company and each other aforementioned Person any legal
or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in
this Section 2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; and provided further
that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Sections 2.8(b) and 2.8(d) exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such
Holder), except in the case of fraud by such Holder. 
 (c) Promptly after receipt by an indemnified party under this
Section 2.8 of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any
indemnifying party under this Section 2.8, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires,
participate jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other
indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the
counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the
indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.8, to the extent that such failure materially prejudices the
indemnifying party’s ability to defend such action. 
 (d) To provide for just and equitable contribution to joint liability
under the Securities Act in any case in which either (i) any party otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Section 2.8 but it is judicially determined (by the entry of a final
judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Section 2.8
provides for indemnification in such case, or (ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Section 2.8, then, and in each such case, such
parties will contribute to the aggregate losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying
party and the indemnified party in connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of
the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to
information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided,

  
 12 

 
however, that, in any such case, (1) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by
such Holder pursuant to such registration statement, and (2) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability pursuant to this Section 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to
Section 2.8(b), exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder. 

(e) Unless otherwise superseded by an underwriting agreement entered into in connection with the underwritten public offering, the
obligations of the Company and Holders under this Section 2.8 shall survive the completion of any offering of Registrable Securities in a registration under this Section 2, and otherwise shall survive the termination of this Agreement.

 2.9 Reports Under Exchange Act. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule or
regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3, the Company shall: 

(a) make and keep available adequate current public information, as those terms are understood and defined in SEC Rule 144, at all
times after the effective date of the registration statement filed by the Company for the IPO; 
 (b) use commercially reasonable
efforts to file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and 

(c) furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent
accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any time after ninety (90) days after the effective date of the registration statement filed by the Company for the IPO),
the Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company
so qualifies); (ii) a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company; and (iii) such other information as may be reasonably requested in availing
any Holder of any rule or regulation of the SEC that permits the selling of any such securities without registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3
(at any time after the Company so qualifies to use such form). 
 2.10 Limitations on Subsequent Registration Rights. From and after
the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the then outstanding shares of Preferred Stock, voting together as a separate class (which majority must include H&F, Battery
and Iconiq), enter into any agreement with any holder 

  
 13 

 
or prospective holder of any securities of the Company that (a) would allow such holder or prospective holder to include such securities in any registration unless, under the terms of
such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion of such securities will not reduce the number of (1) the Registrable Securities of the Holders of
shares of Preferred Stock or (2) the Registrable Securities of the 2020 Note Investors that are included or (b) allow such holder or prospective holder to initiate a demand for registration of any securities held by such holder or
prospective holder; provided that this limitation shall not apply to any additional Investor who becomes a party to this Agreement in accordance with Section [●]. 

2.11 “Market Stand off” Agreement. If requested by the managing underwriter of Company securities, each Holder hereby agrees
that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the final prospectus relating to the registration by the Company of shares of its Common Stock or any other equity
securities under the Securities Act on a registration statement on Form S-1, and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days in the case of the IPO or ninety
(90) days in the case of any registration other than the IPO, which period may be extended upon the request of the managing underwriter, to the extent required by any FINRA rules, for an additional period of up to fifteen (15) days if the
Company issues or proposes to issue an earnings or other public release within fifteen (15) days of the expiration of the 180-day or 90-day, as applicable, lockup period; provided, that if the stand off period is so extended, then the
Company agrees to use all commercially reasonable efforts to negotiate with the parties that the Company is considering as managing underwriters, prior to the Company’s determination of such managing underwriters, to establish and agree upon
the shortest possible lock-up period, taking into account the then current market conditions for public offerings in the Company’s industry so that the lock-up period is as close to 180 days or 90 days, as applicable, as reasonably practical)
(a) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or
indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held immediately before the effective date of the registration statement for such offering or
(b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities held immediately before the effective date of the registration statement for
such offering, whether any such transaction described in clause (a) or (b) above is to be settled by delivery of Common Stock or other securities, in cash, or otherwise. The foregoing provisions of this Section 2.11 shall not apply to
the sale of any shares to an underwriter pursuant to an underwriting agreement or securities acquired in or following the IPO, and shall be applicable to the Holders only if all officers and directors are subject to the same restrictions and the
Company uses commercially reasonable efforts to obtain a similar agreement from all stockholders individually owning more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock
of all outstanding Preferred Stock). The underwriters in connection with such registration are intended third party beneficiaries of this Section 2.11 and shall have the right, power, and authority to enforce the provisions hereof as though
they were a party hereto. Each Holder further agrees to execute such agreements (in customary form) as may be reasonably requested by the underwriters in connection with such registration that are consistent with this Section 2.11 or that are
necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions set forth in this Section 2.11 by the Company shall apply pro rata to all Holders, based on the number of shares of Registrable
Securities held by each Holder. 

  
 14 

 2.12 Restrictions on Transfer. 

(a) The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the Company shall not
recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the
provisions of the Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and the Registrable Securities held by such Holder to agree to take and hold such securities subject to the
provisions and upon the conditions specified in this Agreement. 
 (b) Each certificate or instrument representing
(i) the Preferred Stock, (ii) the Registrable Securities, and (iii) any other securities issued in respect of the securities referenced in clauses (i) and (ii), upon any stock split, stock dividend,
recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Section 2.12(c)) be stamped or otherwise imprinted with a legend substantially in the following form: 

“THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933. SUCH
SHARES MAY NOT BE SOLD, PLEDGED, OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR A VALID EXEMPTION FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT.” 

The Holders consent to the Company making a notation in its records and giving instructions to any transfer agent of the Securities in order to implement the
restrictions on transfer set forth in this Section 2.12. 
 (c) The holder of each certificate representing Securities, by
acceptance thereof, agrees to comply in all respects with the provisions of this Section 2. Before any proposed sale, pledge, or transfer of any Securities, unless there is in effect a registration statement under the Securities Act covering
the proposed transaction, the Holder thereof shall give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer. Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or
transfer in sufficient detail and, if reasonably requested by the Company, shall be accompanied at such Holder’s expense by either (i) a written opinion of legal counsel who shall, and whose legal opinion shall, (in each case, as
reasonably determined in good faith) be reasonably satisfactory to the Company, addressed to the Company, to the effect that the proposed transaction may be effected without registration under the Securities Act; (ii) a “no
action” letter from the SEC to the effect that the proposed sale, pledge, or transfer of such Securities without registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or
(iii) any other evidence reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or transfer of the Securities may be effected without registration under the Securities Act, whereupon the Holder of
such Securities shall be entitled to sell, pledge, or transfer such Securities in accordance with 

  
 15 

 
the terms of the notice given by the Holder to the Company. The Company will not require such a legal opinion or “no action” letter (1) in any transaction in compliance with
SEC Rule 144 or (2) in any transaction in which such Holder distributes Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing to be subject to the terms of this
Section 2.12. Each certificate or instrument evidencing the Securities transferred as above provided shall bear, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in Section 2.12(b),
except that such certificate shall not bear such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish compliance with any provisions of the Securities Act. 

2.13 Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this
Section 2 may be assigned (but only with all related obligations) by a Holder to a transferee or assignee of such securities that (i) immediately after such assignment or transfer, holds at least twenty percent (20%) of the
shares of Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations and other recapitalizations) held by such Holder immediately prior to such assignment or transfer, (ii) is being assigned
or transferred at least 10,000,000 shares of shares of Registrable Securities held by such Holder (subject to appropriate adjustment for stock splits, stock dividends, combinations and other recapitalizations), (iii) is a subsidiary,
Affiliate, parent, partner, member, limited partner, retired partner, retired member or stockholder of such Holder, or (iv) is a Holder’s family member or trust for the benefit of such Holder, provided: (a) the
Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned; (b) such
transferee or assignee agrees in writing to be bound by and subject to the terms and conditions of this Agreement; and (c) such assignment shall be effective only if immediately following such transfer the further disposition of such
securities by the transferee or assignee is restricted under the Securities Act. For the purposes of determining the number of shares of Registrable Securities held by a transferee or assignee, the holdings of transferee or assignee
(i) that is a subsidiary, parent, partner, limited partner, retired partner, member, retired member or stockholder of a Holder; (ii) that is an Affiliate of the Holder, which means with respect to a limited liability company
or a limited liability partnership, a fund or entity managed by the same manager or managing member or general partner or management company or by an entity controlling, controlled by, or under common control with such manager or managing member or
general partner or management company, (iii) who is a Holder’s Immediate Family Member, or (iv) that is a trust for the benefit of an individual Holder or such Holder’s Immediate Family Member, shall be aggregated
together and with those of the assigning Holder; provided that all assignees and transferees who would not qualify individually for assignment of registration rights shall have a single attorney-in-fact for the purpose of exercising any
rights, receiving notices or taking any action under this Section 2. 
 2.14 Termination of Registration Rights. The right of any
Holder to request registration or inclusion of Registrable Securities in any registration pursuant to Section 2.1 or Section 2.2 shall terminate upon the earliest to occur of: (a) the closing of a Liquidation Event, as such
term is defined in the Company’s Certificate of Incorporation; and (b) the fifth (5th) anniversary of the IPO. 

  
 16 

 3. Information and Observer Rights. 

3.1 Delivery of Financial Statements. The Company shall deliver to each Major Investor: 

(a) as soon as practicable, but in any event within one hundred and twenty (120) days after the end of each fiscal year of the
Company, (i) an audited consolidated balance sheet as of the end of such year, (ii) audited consolidated statements of income and of cash flows for such year, and a comparison between (1) the actual amounts as of
and for such fiscal year and (2) the comparable amounts for the prior year and as included in the Annual Budget (as defined in Section 3.1(e)) for such year, with an explanation of any material differences between such amounts and a
schedule as to the sources and applications of funds for such year, and (iii) a statement of stockholders’ equity as of the end of such year, all such consolidated financial statements shall be audited and certified by independent
public accountants of nationally recognized standing selected by the Company (notwithstanding the foregoing, the requirement that such balance sheet, income statement and cash flow be audited or prepared in accordance with GAAP may be waived by the
Board including at least one of the Preferred Directors); 
 (b) as soon as practicable, but in any event within forty-five
(45) days after the end of each of the first three (3) quarters of each fiscal year of the Company, unaudited consolidated statements of income and of cash flows for such fiscal quarter, and an unaudited consolidated balance sheet and a
statement of stockholders’ equity as of the end of such fiscal quarter, all prepared in accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments and (ii) not
contain all notes thereto that may be required in accordance with GAAP); 
 (c) within fifteen (15) days of a written request
by a Major Investor, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock issuable upon
conversion or exercise of any outstanding securities convertible or exercisable for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options and stock options not yet issued but
reserved for issuance, if any, all in sufficient detail as to permit the Major Investors to calculate their respective percentage equity ownership in the Company, and certified by the chief financial officer or chief executive officer of the Company
as being true, complete, and correct; 
 (d) as soon as practicable, but in any event within thirty (30) days of the end of
each month, an unaudited consolidated income statement and statement of cash flows for such month, and an unaudited consolidated balance sheet and statement of stockholders’ equity as of the end of such month, all prepared in accordance with
GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments, (ii) not contain all notes thereto that may be required in accordance with GAAP and (iii) the requirement that
such consolidated income statement, statement of cash flows and balance sheet be prepared in accordance with GAAP may be waived by the Board including at least one of the Preferred Directors); 

(e) as soon as practicable, but in any event thirty (30) days before the end of each fiscal year, a budget and business plan for
the next fiscal year (collectively, the 

  
 17 

 
“Annual Budget”), approved by the Board and prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for such months
and, promptly after prepared, any other budgets or revised budgets prepared by the Company; and 
 (f) such other
information relating to the financial condition, business, prospects, or corporate affairs of the Company and its subsidiaries as any Major Investor may from time to time reasonably request; provided, however, that the Company shall not be
obligated under this Section 3.1 to provide information (i) that the Company reasonably determines in good faith to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form
reasonably acceptable to the Company) or (ii) the disclosure of which would adversely affect the attorney-client privilege between the Company (or its subsidiaries) and its counsel. 

3.2 Inspection. The Company shall permit each Major Investor, at such Major Investor’s expense, to visit and inspect the
Company’s and its subsidiaries’ properties; examine the Company’s consolidated books of account and records; and discuss the Company’s affairs, finances, and accounts with its officers, during normal business hours of the Company
as may be reasonably requested by the Major Investor; provided, however, that the Company shall not be obligated pursuant to this Section 3.2 to provide access to any information that it reasonably and in good faith considers to
be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) or the disclosure of which would adversely affect the attorney-client privilege between the Company and its
counsel; provided, further, that the Company shall inform such Major Investor of the general nature of the information being withheld and shall use its commercially reasonable efforts to cause such access and information to be provided
in a manner that would not reasonably be expected to result in a waiver of such privilege. 
 3.3 Observer Rights. 

(a) In the event Iconiq Capital Management, LLC (“Iconiq”), together with its Affiliates, no longer holds,
beneficially or of record, at least 65% of the shares of the Company’s capital stock held by Iconiq, together with its Affiliates, as of the date hereof, then the Company will permit a representative of Iconiq (such representative of Iconiq,
the “Iconiq Observer”) to attend all meetings, including executive sessions thereof, of the Board and all committees thereof (whether in person, telephonic or other) in a non-voting, observer capacity and shall provide to
Iconiq, concurrently with the members of the Board, and in the same manner, notice of such meeting and a copy of all materials provided to such members. A majority of the Board may request that the Iconiq Observer, if any, recuse himself or herself
from portions of meetings of the Board or omit to provide the Iconiq Observer, if any, with certain information if such members of the Board believe in good faith, based on advice of Company counsel, that such recusal or omission is necessary in
order to (i) preserve the Company’s attorney-client privilege or (ii) fulfill the Company’s obligations with respect to confidential or proprietary information of third parties; provided, however, that the Iconiq
Observer, if any, shall not be so excluded unless all other persons whose receipt of such materials or presence at a meeting would result in a violation of such third party confidentiality obligations are also excluded. 

  
 18 

 (b) For so long as Anderson Investments Pte. Ltd.
(“Temasek”), together with its Affiliates, holds, beneficially or of record, at least 4,500,000 shares of the Company’s capital stock (subject to appropriate adjustment for stock splits, stock dividends, combinations,
and other recapitalizations), then the Company will permit a representative of Temasek (such representative of Temasek, the “Temasek Observer”) to attend all meetings, including executive sessions thereof, of the Board and
all committees thereof (whether in person, telephonic or other) in a non-voting, observer capacity and shall provide to Temasek, concurrently with the members of the Board, and in the same manner, notice of such meeting and a copy of all materials
provided to such members. A majority of the Board may request that the Temasek Observer, if any, recuse himself or herself from portions of meetings of the Board or omit to provide the Temasek Observer, if any, with certain information if such
members of the Board believe in good faith, based on advice of Company counsel, that such recusal or omission is necessary in order to (i) preserve the Company’s attorney-client privilege or (ii) fulfill the Company’s obligations
with respect to confidential or proprietary information of third parties or to prevent a conflict of interest; provided, however, that the Temasek Observer, if any, shall not be so excluded unless all other persons whose receipt of
such materials or presence at a meeting would result in a violation of such third party confidentiality obligations or a conflict of interest are also excluded. 

3.4 Termination of Information, Observer and Inspection Rights. The covenants set forth in Section 3.1, Section 3.2, and
Section 3.3 shall terminate and be of no further force or effect (a) immediately before the consummation of the IPO; (b) when the Company first becomes subject to the periodic reporting requirements of Section 12(g)
or 15(d) of the Exchange Act; or (c) upon a Liquidation Event, as such term is defined in the Company’s Seventh Amended and Restated Certificate of Incorporation as may be amended from time to time (the “Restated
Certificate”), whichever event occurs first. 
 3.5 Confidentiality. Each Investor agrees that such Investor will keep
confidential and will not disclose, divulge, or use for any purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement (including notice of the
Company’s intention to file a registration statement), unless such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Section 3.5 by such Investor),
(b) is or has been independently developed or conceived by the Investor without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Investor by a third party without a
breach of any obligation of confidentiality such third party may have to the Company; provided, however, that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other
professionals to the extent necessary to obtain their services in connection with monitoring its investment in the Company, if such person is bound by an ethical duty to keep such information confidential or such person agrees to be bound by the
provisions of this Section 3.5; (ii) to any prospective purchaser of any Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions of this Section 3.5; (iii) to any existing
or prospective Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, provided that such Investor informs such Person that such information is confidential and directs such
Person to maintain the confidentiality of such information; or (iv) if the Investor or its Affiliates, representatives or agents are required to disclose any of the Company’s confidential information pursuant to any applicable law,
rule or regulation, 

  
 19 

 
provided that the Investor promptly notifies the Company in writing of such disclosure and the Investor or such Affiliate, representative or agent shall disclose only that portion of the
Company’s confidential information which they are advised by its counsel in writing that they are legally required to so disclose and shall use commercially reasonable efforts to request that confidential treatment will be accorded to any
information so disclosed. 
 4. Rights to Future Stock Issuances. 

4.1 Right of First Offer. Subject to the terms and conditions of this Section 4, if the Company
proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Major Investor. A Major Investor shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems
appropriate, among (i) itself, (ii) its Affiliates and (iii) its beneficial interest holders, such as limited partners, members or any other Person having “beneficial ownership,” as such term is defined in Rule 13d-3
promulgated under the Exchange Act, of such Major Investor (“Investor Beneficial Owners”); provided that, each such Affiliate or Investor Beneficial Owner agrees to enter into this Agreement
and each of the Voting Agreement and Right of First Refusal and Co-Sale Agreement of even date herewith among the Company, the Investors and the other parties named therein, as an “Investor” under each such agreement. For
purposes of the foregoing, each Major Investor shall be entitled to purchase up to that portion of such New Securities which equals the proportion that the Common Stock then held by such Major Investor (including all shares of Common Stock then
issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities) bears to the total Common Stock of the Company then held by all the Major Investors (including all shares
of Common Stock issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Preferred Stock and any other Derivative Securities). 

4.2 Offer Notice. Prior to offering or selling any New Securities, the Company shall give notice (the “Offer
Notice”) to each Major Investor, stating (a) its bona fide intention to offer such New Securities, (b) the number of such New Securities to be offered, and (c) the price and terms, if any, upon which
it proposes to offer such New Securities. 
 4.3 Election to Purchase. By notification to the Company within twenty (20) days
after the Offer Notice is given, each Major Investor may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to the full number of the New Securities offered to it pursuant to the Offer Notice.

 4.4 Right of Oversubscription. At the expiration of such twenty (20) day period, the Company shall promptly notify each Major
Investor that elects to purchase or acquire all the shares available to it (each, a “Fully Exercising Investor”) of any other Major Investor’s failure to do likewise. During the ten (10) day period commencing after
the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in addition to the number of shares specified above, up to that portion of the New Securities for which Major
Investors were entitled to subscribe but that were not subscribed for by the Major Investors (the “Unsubscribed Shares”) which is equal to the percentage of the New Securities that the Major Investor was entitled to purchase
under Section 4.1 above and as is set forth in the Offer Notice. 

  
 20 

 4.5 Closing. The closing of any sale pursuant to this Section 4 shall
occur within the later of ninety (90) days after the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to this Section 4. 

4.6 Failure to Purchase the New Securities. If all New Securities referred to in the Offer Notice are not elected to be
purchased or acquired as provided in this Section 4, the Company may, during the ninety (90) day period following the expiration of the 20-day period provided in Section 4.3, offer and sell the remaining unsubscribed portion of such
New Securities to any Person or Persons at a price not less than, and upon terms no more favorable to the offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within
such period, or if such agreement is not consummated within forty-five (45) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the
Major Investors in accordance with this Section 4. 
 4.7 Exceptions to Right of First Offer. The right of first offer in
this Section 4 shall not be applicable to: (a) shares of capital stock that constitute Exempted Securities (as defined in the Company’s Restated Certificate) under (i) Sections 4.4.1(a)(iii), 4.4.1(a)(v) and
4.4.1(a)(vi) of the Restated Certificate or (ii) Sections 4.4.1(a)(i), 4.4.1(a)(ii) and 4.4.1(a)(iv) of the Restated Certificate; provided, however, that, in the case of this clause (ii) the Company shall have first
complied with this Section 4 in connection with the initial issuance and sale of the underlying securities; and (b) shares of Common Stock issued in the IPO. 

4.8 Termination of Right of First Offer. The right of first offer in this Section 4 shall terminate and be of no further
force or effect (a) immediately before the consummation of an IPO, (b) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (c) upon
a Liquidation Event, as such term is defined in the Restated Certificate, whichever event occurs first. 
 5. Additional Covenants.

 5.1 Proprietary Information and Inventions Agreements. Unless otherwise approved by the Board, including one of the
Preferred Directors, the Company will cause (a) each officer and each person now or hereafter employed by it or by any subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) to enter into a
Proprietary Information and Inventions Agreement in a form approved by the Board and (b) each key technical employee to execute an assignment of inventions agreement in a form approved by the Board. In addition, the Company shall not
amend, modify, terminate, waive, or otherwise alter, in whole or in part, any of the above-referenced agreements or any restricted stock agreement between the Company and any employee, without the consent of the Board (including the approval of one
of the Preferred Directors). 
 5.2 Stock Vesting; Third Party Valuation of Stock Awards. Unless otherwise approved by the
Board (including one of the Preferred Directors), all stock options and other stock equivalents issued after the date of this Agreement to employees, directors, consultants and other service providers shall be subject to vesting as follows:
(a) twenty-five percent (25%) of such stock shall vest at the end of the first year following the earlier of the date of issuance or such 

  
 21 

 
person’s vesting commencement date (as determined by the Board), and (b) seventy-five percent (75%) of such stock shall in equal monthly installments over the following
thirty-six (36) months. Further, without the approval of the Board (including one of the Preferred Directors), the Company shall not (and it shall cause its subsidiaries not to) take any action to effect (nor shall it enter into any agreement
providing for): (i) the acceleration of vesting of options, the lapse of repurchase rights or other restrictions on stock awards, or the vesting of any equity grant, (ii) any severance, retention, bonus, gross-up or other
similar payment by Company or any of its subsidiaries, or (iii) any increase of any benefits or other amounts otherwise payable by Company, in each case upon the occurrence of (or in connection with) a Liquidation Event or a similar
change in control transaction the involving the Company. In addition, unless otherwise approved by the Board (including one of the Preferred Directors), (1) each agreement evidencing such stock option or other stock equivalent shall
provide for a market stand-off provision substantially similar to that in Section 2.11 (2) the Company shall have the right to repurchase unvested shares at cost upon termination of employment of any holder of restricted stock and
(3) the Company shall not permit or cause any subsidiary to issue stock options or other stock equivalents after the date of this Agreement to employees, directors, consultants and other service providers. In connection with the grant of
any equity securities or awards to the Company’s employees, directors, officers or consultants, the Company shall obtain an independent third party valuation from a valuation firm approved by the Board (including one of the Preferred
Directors), unless waived by the Board (including one of the Preferred Directors). 
 5.3 Intentionally Omitted. 

5.4 Board Matters. Unless otherwise determined by the vote of a majority of the directors then in office, the Board shall meet at least
monthly in accordance with an agreed-upon schedule. The Company shall organize and maintain an audit committee and a compensation committee. Each such committee shall include the Preferred Directors, should each such Preferred Director at its sole
discretion elect to serve on any such committee. The Company shall reimburse the directors for all reasonable out-of-pocket expenses incurred in connection with attending meetings of the Board, including without limitation travel expenses incurred.

 5.5 Insurance. The Company shall maintain its Directors and Officers liability insurance from a financially sound and reputable
insurer in such amount and on such terms as determined by the Board, and will use commercially reasonable efforts to cause such insurance policies to be maintained until such time as the Board determines that such insurance should be discontinued.

 5.6 Successor Indemnification. If the Company or any of its successors or assignees consolidates with or merges into any other
Person and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of the Company assume the obligations of the
Company with respect to indemnification of members of the Board as in effect immediately before such transaction, whether such obligations are contained in the Company’s Bylaws, the Restated Certificate, indemnity agreements, or elsewhere, as
the case may be. 

  
 22 

 5.7 Subsidiaries. The Company shall ensure that: 

(a) no subsidiary of the Company shall take any action that, were it to be taken by the Company, would require the approval of the
Board or the stockholders of the Company (or any subset thereof) pursuant to the Restated Certificate, applicable law or otherwise, unless such approval of the Company’s Board or stockholders (as applicable) is first obtained with respect to
such action; and 
 (b) each subsidiary of the Company shall remain a direct or indirect, wholly-owned subsidiary of the Company.

 5.8 Indemnification Matters. The Company hereby acknowledges that one (1) or more of the directors nominated to serve on the
Board by the Investors (each a “Fund Director”) may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more of the Investors and certain of their affiliates (collectively, the
“Fund Indemnitors”). The Company hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any such Fund Director are primary and any obligation of the Fund Indemnitors to advance expenses or
to provide indemnification for the same expenses or liabilities incurred by such Fund Director are secondary), (b) that it shall be required to advance the full amount of expenses incurred by such Fund Director and shall be liable for the full
amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any such Fund Director to the extent legally permitted and as required by the Company’s Certificate of Incorporation or Bylaws of the Company
(or any agreement between the Company and such Fund Director), without regard to any rights such Fund Director may have against the Fund Indemnitors, and, (c) that it irrevocably waives, relinquishes and releases the Fund Indemnitors from any
and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of any such Fund Director
with respect to any claim for which such Fund Director has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or
payment to all of the rights of recovery of such Fund Director against the Company. 
 5.9 Termination of Covenants. The covenants
set forth in this Section 5, except for Section 5.6 and Section 5.8, shall terminate and be of no further force or effect (a) immediately before the consummation of an IPO, (b) when the Company first becomes
subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (c) upon a Liquidation Event, as such term is defined in the Restated Certificate, whichever event occurs first. 

6. Miscellaneous. 

6.1 Successors and Assigns. The rights under this Agreement may be assigned (but only with all related obligations) by a Holder to a
transferee of Securities that (a) is an Affiliate of a Holder; (b) is a Holder’s Immediate Family Member or trust for the benefit of an individual Holder or one or more of such Holder’s Immediate Family Members; or
(c) after such transfer, holds at least 10,000,000 shares of Securities (subject to appropriate adjustment for stock splits, 

  
 23 

 
stock dividends, combinations, and other recapitalizations); provided, however, that (i) the Company is, within a reasonable time after such transfer, furnished with written
notice of the name and address of such transferee and the Securities with respect to which such rights are being transferred; and (ii) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to
the terms and conditions of this Agreement, including the provisions of Section 2.11. For the purposes of determining the number of shares of Securities held by a transferee, the holdings of a transferee (1) that is an Affiliate or
stockholder of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust for the benefit of an individual Holder or such Holder’s Immediate Family Member shall be aggregated together and with
those of the transferring Holder; provided further that all transferees who would not qualify individually for assignment of rights shall have a single attorney-in-fact for the purpose of exercising any rights, receiving notices, or taking
any action under this Agreement. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees of the parties. Nothing in this Agreement, express or implied, is intended to
confer upon any party other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein. 

6.2 Governing Law. This Agreement and any controversy arising out of or relating to this Agreement shall be governed by and construed
in accordance with the internal laws of the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

6.3 Counterparts; Facsimile. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. This Agreement may also be executed and delivered by electronic or facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. 
 6.4 Titles and Subtitles. The titles and subtitles used in this Agreement
are for convenience only and are not to be considered in construing or interpreting this Agreement. 
 6.5 Notices. All notices and
other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or: (a) personal delivery to the party to be notified; (b) when sent,
if sent by electronic mail or facsimile during the recipient’s normal business hours, and if not sent during normal business hours, then on the recipient’s next business day; (c) five (5) days after having been sent by
registered or certified mail, return receipt requested, postage prepaid; or (d) one (1) business day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery,
with written verification of receipt. All communications shall be sent to the respective parties at their addresses as set forth on Schedule A hereto, or to the principal office of the Company and to the attention of the Chief
Executive Officer, in the case of the Company, or to such email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Section 6.5. If notice is given to the Company, a copy, which shall
not constitute notice, shall also be sent to Lowenstein Sandler LLP, 1251 Avenue of the Americas, New York, New York, 10020, Attn: Raymond Thek, Esq., Fax: (973) 597-2575, email: rthek@lowenstein.com; if notice is given to Battery, a copy,
which shall not constitute 

  
 24 

 
notice, shall also be given to Cooley LLP, 500 Boylston Street, Boston, Massachusetts 02116, Attention: Alfred L. Browne, III, Esq., Fax: (617) 937-2440, email: abrowne@cooley.com; if notice
is given to Temasek, a copy, which shall not constitute notice, shall also be given to Cooley LLP, 101 California Street, 5th Floor, San Francisco, CA, 94111, Attention: Peter H. Werner, Esq.,
email: pwerner@cooley.com; and if notice is given to H&F or its Affiliates, a copy, which shall not constitute notice, shall also be given to Simpson Thacher & Bartlett LLP, 2475 Hanover Street, Palo Alto, California 94304, Attention:
Atif I. Azher, email aazher@stblaw.com. 
 6.6 Amendments and Waivers. Any term of this Agreement may be amended and the observance
of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of (i) the Company and (ii) the Holders of at least a
majority of the then outstanding shares of Preferred Stock, voting as a separate class; provided, however, that: 
 (A)
(i) for so long as Iconiq continues to hold at least 4,500,000 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, recapitalization or the like), the definition of Major Investor cannot be changed to
exclude Iconiq without its consent, (ii) the definitions of Iconiq and Registrable Securities (as pertains to amendments or waivers adverse to Iconiq) shall not be amended without the prior written consent of Iconiq, and
(iii) the rights of Iconiq set forth in Sections 2.10, 3.3(a), 3.5 (as pertains to amendments or waivers adverse to Iconiq) and this Section 6.6(A) of this Agreement and the rights of the Fund Directors and Investor Indemnitors
set forth in Section 5.8 and the rights set forth in Section 5.6 and Section 5.9 of this Agreement shall not be amended or waived without the written consent of Iconiq; 

(B) (i) for so long as Temasek continues to hold at least 4,500,000 shares of Registrable Securities (as adjusted for any stock split,
stock dividend, combination, recapitalization or the like), the definition of Major Investor cannot be changed to exclude Temasek without its consent, and (ii) the rights of Temasek set forth in Section 3.3(b) or this
Section 6.6(B) of this Agreement shall not be amended or waived without the written consent of Temasek; 
 (C) (i) for so long
as H&F continues to hold at least 4,500,000 shares of Registrable Securities (as adjusted for any stock split, stock dividend, combination, recapitalization or the like), the definitions of Initiating Holder and Major Investor shall not be
changed to exclude H&F without the prior written consent of H&F, (ii) the definitions of H&F and Registrable Securities (as pertains to amendments or waivers adverse to H&F) shall not be amended without the prior written
consent of H&F, and (iii) the rights of H&F set forth in Section 2 (including the definitions related thereto), Section 3.5 (as pertains to amendments or waivers adverse to H&F) and this Section 6.6(C) of this
Agreement and the rights of the Fund Directors and Investor Indemnitors set forth in Section 5.8 and the rights set forth in Section 5.6 and Section 5.9 of this Agreement shall not be amended or waived without the prior written
consent of H&F; 
 (D) (i) for so long as Battery continues to hold at least 4,500,000 shares of Registrable Securities (as
adjusted for any stock split, stock dividend, combination, recapitalization or the like), the definition of Major Investor cannot be changed to exclude Battery 

  
 25 

 
without its consent, (ii) the definitions of Battery and Registrable Securities (as pertains to amendments or waivers adverse to Battery) shall not be amended without the prior
written consent of Battery, and (iii) the rights of Battery set forth in Sections 2.10, 3.5 (as pertains to amendments or waivers adverse to Battery) and this Section 6.6(D) of this Agreement and the rights of the Fund Directors and
Investor Indemnitors set forth in Section 5.8 and the rights set forth in Section 5.6 and Section 5.9 of this Agreement shall not be amended or waived without the written consent of Battery; 

(E) (i) for so long as the 2020 Note Investors continues to hold (a) shares of Registrable Securities (as adjusted for any stock
split, stock dividend, combination, recapitalization or the like) constituting at least fifty percent (50%) of the shares of Registrable Securities initially issued upon the conversion of the 2020 Notes or (b) 2020 Note(s) constituting at
least fifty percent (50%) of the aggregate principal amount originally issued in all issuances under to the 2020 Note Purchase Agreement, (1) the definition of Holder cannot be changed to exclude the 2020 Note Investors, (2) the
definition of Registrable Securities cannot be changed to exclude shares of the Company’s capital stock issued upon conversion of the 2020 Notes, (3) the definition of Securities cannot be changed to exclude shares of the Company’s
capital stock issued upon conversion of the 2020 Notes, (4) the definitions of 2020 Note Investors, 2020 Note Purchase Agreement, 2020 Notes and Administrative Agent cannot be amended, and (5) Section 2.10(a) of this Agreement shall
not be amended to remove the reference to a reduction in the 2020 Note Investors’ securities, in each case without consent of the Administrative Agent, and (ii) Section 6.6(E) of this Agreement shall not be amended or waived
without the written consent of the Administrative Agent; 
 (F) the written consent of an Investor or a 2020 Note Investor shall be
required for any amendment or waiver that, by its terms, alters or changes the rights or obligations of such Investor or 2020 Note Investor adversely and in a manner proportionally different than any other Investor; 

(G) with respect to Section 4 only, if any Major Investor purchases any portion of New Securities offered for sale by the Company after
all Major Investors’ rights under Section 4 have been waived with respect to the issuance of such New Securities, then any Major Investor who did not previously waive its rights under Section 4 shall have the right to purchase such
New Securities on a pro rata basis; and 
 (H) any provision hereof may be waived by any waiving party on such party’s own behalf,
without the consent of any other party. 
 The Company shall give prompt notice of any amendment or termination hereof or waiver hereunder to any party
hereto that did not consent in writing to such amendment, termination, or waiver. Any amendment, termination, or waiver effected in accordance with this Section 6.6 shall be binding on all parties hereto, regardless of whether any such party
has consented thereto. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

  
 26 

 6.7 Severability. In case any one or more of the provisions contained in this
Agreement is for any reason held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid, illegal, or unenforceable provision
shall be reformed and construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law. 
 6.8
Aggregation of Stock. All shares of Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such Affiliated persons may apportion such rights
as among themselves in any manner they deem appropriate. 
 6.9 Entire Agreement. This Agreement (including any Schedules and
Exhibits hereto) and the Side Letter constitute the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing
between the parties is expressly canceled. Upon the effectiveness of this Agreement, the Prior Agreement shall be deemed amended and restated to read in its entirety as set forth in this Agreement. 

6.10 Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement, upon
any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or
to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law
or otherwise afforded to any party, shall be cumulative and not alternative. 
 6.11 Acknowledgment. The Company acknowledges that
the Investors are in the business of venture capital investing and therefore review the business plans and related proprietary information of many enterprises, including enterprises which may have products or services which compete directly or
indirectly with those of the Company. Nothing in this Agreement shall preclude or in any way restrict the Investors from investing or participating in any particular enterprise whether or not such enterprise has products or services which compete
with those of the Company. 
 6.12 ICC. As contemplated in the Purchase Agreement, H&F or one or more of its Affiliates will
purchase all of ICC’s shares of Preferred Stock of the Company such that ICC will no longer be a Company stockholder (the “ICC Secondary”). Effective and conditioned upon the closing of the ICC Secondary, ICC
consents to amend and restate the Prior Agreement as set forth in this Agreement. Thereafter, ICC shall cease to be a party to this Agreement. Notwithstanding anything to the contrary, this Section 6.12 may not be altered, amended, waived or
terminated without ICC’s prior written consent, until ICC ceases to be a party to this Agreement pursuant to this Section 6.12. 

[SIGNATURE PAGES FOLLOW] 

  
 27 

 IN WITNESS WHEREOF, the parties hereto have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	COMPANY:
	
	SPRINKLR, INC., a Delaware corporation
		
	By:	 	  

	Name:	 	Chris Lynch
	Title:	 	Chief Financial Officer
	
	 Address: 29 West 35th Street

8th Floor

New York, NY 10001
 Attn: Ragy Thomas

  
 SIGNATURE
PAGE – SPRINKLR, INC., A DELAWARE CORPORATION, 

SEVENTH AMENDED AND RESTATED INVESTORS RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTORS:
	
	H&F SPLASH HOLDINGS IX, L.P.
	
	  

	Name:	 	
	Title:	 	

  
 SIGNATURE
PAGE – SPRINKLR, INC., A DELAWARE CORPORATION, 

SEVENTH AMENDED AND RESTATED INVESTORS RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTORS:
	
	BATTERY VENTURES IX, L.P.
		
	By:	 	 Battery Partners IX, LLC
 General
Partner

	
	  

	Name:	 	Neeraj Agrawal
	Title:	 	Board Member
	
	BATTERY INVESTMENT PARTNERS IX, LLC
		
	By:	 	 Battery Partners IX, LLC
 Managing
Member

	
	  

	Name:	 	Neeraj Agrawal
	Title:	 	Board Member

  
 SIGNATURE
PAGE – SPRINKLR, INC., A DELAWARE CORPORATION, 

SEVENTH AMENDED AND RESTATED INVESTORS RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTORS:
	
	ICONIQ STRATEGIC PARTNERS, L.P.,
a Cayman Islands exempted limited partnership
		
	By:	 	ICONIQ Strategic Partners GP, L.P.,
	a Cayman Islands exempted limited partnership
	Its:	 	General Partner
		
	By:	 	ICONIQ Strategic Partners TT GP, Ltd.,
	a Cayman Islands exempted company
	Its:	 	General Partner
		
	By:	 	  

	Name:	 	Kevin Foster
	Title:	 	Authorized Signatory
	
	ICONIQ STRATEGIC PARTNERS-B, L.P.,
a Cayman Islands exempted limited partnership
		
	By:	 	ICONIQ Strategic Partners GP, L.P.,
	a Cayman Islands exempted limited partnership
	Its:	 	General Partner
		
	By:	 	ICONIQ Strategic Partners TT GP, Ltd.,
	a Cayman Islands exempted company
	Its:	 	General Partner
		
	By:	 	  

	Name:	 	Kevin Foster
	Title:	 	Authorized Signatory

  
 SIGNATURE
PAGE – SPRINKLR, INC., A DELAWARE CORPORATION, 

SEVENTH AMENDED AND RESTATED INVESTORS RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	ICONIQ STRATEGIC PARTNERS II, L.P.,
a Cayman Islands exempted limited partnership
		
	By:	 	ICONIQ Strategic Partners II GP, L.P.,
	a Cayman Islands exempted limited partnership
	Its:	 	General Partner
		
	By:	 	ICONIQ Strategic Partners II TT GP, Ltd.,
	a Cayman Islands exempted company
	Its:	 	General Partner
		
	By:	 	  

	Name:	 	Kevin Foster
	Title:	 	Authorized Signatory
	
	ICONIQ STRATEGIC PARTNERS II-B, L.P.,
a Cayman Islands exempted limited partnership
		
	By:	 	ICONIQ Strategic Partners II GP, L.P.,
	a Cayman Islands exempted limited partnership
	Its:	 	General Partner
		
	By:	 	ICONIQ Strategic Partners II TT GP, Ltd.,
	a Cayman Islands exempted company
	Its:	 	General Partner
		
	By:	 	  

	Name:	 	Kevin Foster
	Title:	 	Authorized Signatory

  
 SIGNATURE
PAGE – SPRINKLR, INC., A DELAWARE CORPORATION, 

SEVENTH AMENDED AND RESTATED INVESTORS RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	INVESTOR:
	
	ICONIQ CAPITAL MANAGEMENT, LLC
		
	By:	 	  

	Name:	 	Kevin Foster
	Title:	 	Authorized Signatory

  
 SIGNATURE
PAGE – SPRINKLR, INC., A DELAWARE CORPORATION, 

SEVENTH AMENDED AND RESTATED INVESTORS RIGHTS
AGREEMENT 

 IN WITNESS WHEREOF, the parties hereto have executed this Seventh Amended and Restated
Investors’ Rights Agreement as of the date first written above. 
  

			
	ICC (WITH RESPECT TO SECTION 6.12 ONLY):
	
	INTEL CAPITAL CORPORATION,
a Delaware corporation
		
	By:	 	  

	Name:	 	Nick Washburn
	Title:	 	Authorized Signatory

  
 SIGNATURE
PAGE – SPRINKLR, INC., A DELAWARE CORPORATION, 

SEVENTH AMENDED AND RESTATED INVESTORS RIGHTS
AGREEMENT 

 SCHEDULE A 

INVESTORS 
  

																																									
	
NAME AND ADDRESS
	  	NUMBER OF
SERIES A
SHARES
HELD	 	  	NUMBER OF
SERIES B
SHARES
HELD	 	  	NUMBER OF
SERIES C
SHARES
HELD	 	  	NUMBER OF
SERIES D
SHARES
HELD	 	  	NUMBER
OF SERIES
D-2
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-1
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-2
SHARES
HELD	 	  	NUMBER OF
SERIES F
SHARES
HELD	 	  	NUMBER
OF SERIES
G-1
SHARES
HELD	 	  	NUMBER
OF SERIES
G-2
SHARES
HELD	 
	 H&F Splash

Holdings IX, L.P.

c/o
 Hellman &
Friedman LLC
 415 Mission Street,

Suite 5700

San Francisco, CA 94105

Attention: Arrie Park

apark@hf.com
  

with a copy, that shall not constitute notice, to:
  

Simpson Thacher & Bartlett LLP

2475 Hanover Street

Palo Alto, CA 94304

Attention: Atif I. Azher

aazher@stblaw.com
	  	 	5,455,519	 	  	 	10,347,669	 	  	 	4,903,524	 	  	 	1,393,143	 	  	 	18,525	 	  	 	580,302	 	  	 	72,087	 	  	 	0	 	  	 	10,810,810	 	  	 	9,090,909	 
	 Battery Ventures IX, L.P.

One Marina Park Drive

Suite 1100

Boston, MA 02210

Attention: General Counsel

legal@battery.com
	  	 	19,846,041	 	  	 	14,321,250	 	  	 	6,473,307	 	  	 	287,166	 	  	 	91,707	 	  	 	14,289	 	  	 	1,773	 	  	 	5,498	 	  	 	0	 	  	 	0	 
	 Battery Investment Partners IX, LLC

One Marina Park Drive

Suite 1100

Boston, MA 02210

Attention: General Counsel

legal@battery.com
	  	 	198,440	 	  	 	143,199	 	  	 	64,728	 	  	 	2,871	 	  	 	918	 	  	 	144	 	  	 	18	 	  	 	55	 	  	 	0	 	  	 	0	 

																																									
	
NAME AND ADDRESS
	  	NUMBER OF
SERIES A
SHARES
HELD	 	  	NUMBER OF
SERIES B
SHARES
HELD	 	  	NUMBER OF
SERIES C
SHARES
HELD	 	  	NUMBER OF
SERIES D
SHARES
HELD	 	  	NUMBER
OF SERIES
D-2
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-1
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-2
SHARES
HELD	 	  	NUMBER OF
SERIES F
SHARES
HELD	 	  	NUMBER
OF SERIES
G-1
SHARES
HELD	 	  	NUMBER
OF SERIES
G-2
SHARES
HELD	 
	 ICONIQ STRATEGIC PARTNERS, L.P.

394 Pacific Avenue, 2nd Floor

San Francisco, CA 94111

Attention: William Griffith

Facsimile: (415) 321-3960

Email: will@iconiqcapital.com
  

with a copy, that shall not constitute notice, to:

 
 Goodwin Procter LLP

The New York Times Building

620 Eighth Avenue

New York, NY 10018

Attention: Ilan S. Nissan

Facsimile: (212) 355-3333

Email: inissan@goodwinprocter.com
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	9,418,425	 	  	 	1,269,324	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 
	 ICONIQ STRATEGIC PARTNERS-B, L.P.

394 Pacific Avenue, 2nd Floor

San Francisco, CA 94111

Attention: William Griffith

Facsimile: (415) 321-3960

Email: will@iconiqcapital.com
  

with a copy, that shall not constitute notice, to:

 
 Goodwin Procter LLP

The New York Times Building

620 Eighth Avenue

New York, NY 10018

Attention: Ilan S. Nissan

Facsimile: (212) 355-3333

Email: inissan@goodwinprocter.com
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	2,363,838	 	  	 	318,573	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 

																																									
	
NAME AND ADDRESS
	  	NUMBER OF
SERIES A
SHARES
HELD	 	  	NUMBER OF
SERIES B
SHARES
HELD	 	  	NUMBER OF
SERIES C
SHARES
HELD	 	  	NUMBER OF
SERIES D
SHARES
HELD	 	  	NUMBER
OF SERIES
D-2
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-1
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-2
SHARES
HELD	 	  	NUMBER OF
SERIES F
SHARES
HELD	 	  	NUMBER
OF SERIES
G-1
SHARES
HELD	 	  	NUMBER
OF SERIES
G-2
SHARES
HELD	 
	 ICONIQ STRATEGIC PARTNERS II, L.P.

394 Pacific Avenue, 2nd Floor

San Francisco, CA 94111

Attention: William Griffith

Facsimile: (415) 321-3960

Email: will@iconiqcapital.com
  

with a copy, that shall not constitute notice, to:

 
 Goodwin Procter LLP The New York Times
Building
 620 Eighth Avenue

New York, NY 10018

Attention: Ilan S. Nissan

Facsimile: (212) 355-3333

Email: inissan@goodwinprocter.com
	  	 	0	 	  	 	2,309,168	 	  	 	0	 	  	 	0	 	  	 	2,164,349	 	  	 	404,852	 	  	 	50,294	 	  	 	311,526	 	  	 	0	 	  	 	0	 
	 ICONIQ STRATEGIC PARTNERS II-B, L.P.

394 Pacific Avenue, 2nd Floor

San Francisco, CA 94111

Attention: William Griffith

Facsimile: (415) 321-3960

Email: will@iconiqcapital.com
  

with a copy, that shall not constitute notice, to:

 
 Goodwin Procter LLP The New York Times
Building
 620 Eighth Avenue

New York, NY 10018

Attention: Ilan S. Nissan

Facsimile: (212) 355-3333

Email: inissan@goodwinprocter.com
	  	 	0	 	  	 	1,807,612	 	  	 	0	 	  	 	0	 	  	 	1,694,248	 	  	 	316,918	 	  	 	39,370	 	  	 	243,862	 	  	 	0	 	  	 	0	 
	 John McMahon 249 Dutton Road Sudbury, MA 01776
	  	 	500,001	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 
	 RSP Fund VI, LLC

Attn: Akihiko Okamoto

President

Recruti Strategic Partners

1-9-2 Marunouchi, Chiyoda-ku

Tokyo, JAPAN 100-6640

aokamoto@r.recruit.co.jp
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	144,354	 	  	 	17,931	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Suneight SP Investment

Limited Partnership

Masahide Katsukata

Suneight Investment Co., Ltd.

Yubinbango105-0001

Toranomon, Minato-ku,

Tokyo 1-chome 15-7 TG115

building 7F

katsukata@sun-8.jp
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	404,190	 	  	 	50,211	 	  	 	0	 	  	 	0	 	  	 	0	 

																																									
	
NAME AND ADDRESS
	  	NUMBER OF
SERIES A
SHARES
HELD	 	  	NUMBER OF
SERIES B
SHARES
HELD	 	  	NUMBER OF
SERIES C
SHARES
HELD	 	  	NUMBER OF
SERIES D
SHARES
HELD	 	  	NUMBER
OF SERIES
D-2
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-1
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-2
SHARES
HELD	 	  	NUMBER OF
SERIES F
SHARES
HELD	 	  	NUMBER
OF SERIES
G-1
SHARES
HELD	 	  	NUMBER
OF SERIES
G-2
SHARES
HELD	 
	 Suneight OK Partnership

Masahide Katsukata

Suneight Investment Co., Ltd.

Yubinbango105-0001

Toranomon, Minato-ku,

Tokyo 1-chome 15-7 TG115

building 7F

katsukata@sun-8.jp
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	173,223	 	  	 	21,519	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Azure Growth Equity

(Sprinklr), L.P.

c/o Azure Growth Equity

1050 Battery Street, Suite 100

San Francisco, CA 94111

Attention: Steve Gillan

Email: steve.gillan@azurecap.com
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	288,708	 	  	 	35,865	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Azure Capital Partners II, L.P.

c/o Azure Growth Equity

1050 Battery Street, Suite 100

San Francisco, CA 94111

Attention: Steve Gillan

Email: steve.gillan@azurecap.com
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	163,170	 	  	 	20,272	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Azure Entrepreneurs II, L.P.

c/o Azure Growth Equity

1050 Battery Street, Suite 100

San Francisco, CA 94111

Attention: Steve Gillan

Email: steve.gillan@azurecap.com
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	20,927	 	  	 	2,601	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Sparta Group MA LLC

Series 21

Attn: Nirav Desai

92 Montvale Ave., Suite 2500

Stoneham, MA 02180

Email: nirav@spartagroupllc.com
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	1,443,543	 	  	 	179,328	 	  	 	0	 	  	 	0	 	  	 	0	 
	 2005 Vora Family Trust,

U/D/T July 12, 2005
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	7,688	 	  	 	956	 	  	 	0	 	  	 	0	 	  	 	0	 
	 First Round Capital 2007

Annex Fund L.P.
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	25,778	 	  	 	3,202	 	  	 	0	 	  	 	0	 	  	 	0	 
	 First Round Capital 2007

Annex Fund-Q L.P.
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	17,185	 	  	 	2,134	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Gary Getz
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	12,618	 	  	 	1,568	 	  	 	0	 	  	 	0	 	  	 	0	 
	 InterWest Partners X, LP
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	244,690	 	  	 	30,399	 	  	 	0	 	  	 	0	 	  	 	0	 
	 OATV LP
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	34,929	 	  	 	4,338	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Rahul Sachdev
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	3,073	 	  	 	382	 	  	 	0	 	  	 	0	 	  	 	0	 

																																									
	
NAME AND ADDRESS
	  	NUMBER OF
SERIES A
SHARES
HELD	 	  	NUMBER OF
SERIES B
SHARES
HELD	 	  	NUMBER OF
SERIES C
SHARES
HELD	 	  	NUMBER OF
SERIES D
SHARES
HELD	 	  	NUMBER
OF SERIES
D-2
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-1
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-2
SHARES
HELD	 	  	NUMBER OF
SERIES F
SHARES
HELD	 	  	NUMBER
OF SERIES
G-1
SHARES
HELD	 	  	NUMBER
OF SERIES
G-2
SHARES
HELD	 
	 Stewart Alsop II Revocable Trust dated 10/8/93
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	12,437	 	  	 	1,543	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Wendy Lea
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	34,924	 	  	 	4,338	 	  	 	0	 	  	 	0	 	  	 	0	 
	 SV Angel III LP
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	25,106	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Signatures Capital LLC
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	13,234	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Streamlined Ventures I, LP
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	53,456	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Siu Lung Mok
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	3,138	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Accelerate-IT Ventures Fund I, LP
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	58,708	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Anduin I, LP
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	9,415	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Dan Arra
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	2,141	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Ellen Levy SPT
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	3,557	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Merrill Lynch CustodialServices FBO The Social Internet Fund
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	28,556	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Michael Ober
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	2,141	 	  	 	0	 	  	 	0	 	  	 	0	 
	 DV Playground, LLC
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	28,647	 	  	 	0	 	  	 	0	 	  	 	0	 
	 TLSK Capital
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	6,819	 	  	 	0	 	  	 	0	 	  	 	0	 
	 PivotNorth Capital Fund I LP
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	25,106	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Thomas Weck as TTEE of the Thomas L. Weck Rev Trust U/A DTD 10-3-05
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	26,895	 	  	 	0	 	  	 	0	 	  	 	0	 
	 ONEHOPE Inc.
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	6,276	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Rayburn Capital LLC
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	4,751	 	  	 	0	 	  	 	0	 	  	 	0	 
	 FF Angel, LLC
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	3,138	 	  	 	0	 	  	 	0	 	  	 	0	 
	 MIF LLC
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	1,255	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Richard Skrenta
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	3,138	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Peter M. Weck & Melinda Lee Weck, Trustees of the Weck Family Trust dated October 11,
2005
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	66,413	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Rothenberg Ventures 2013 Fund, LLC
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	7,128	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Paul Gordon
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	7,175	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Ryan Gonzalez
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	3,138	 	  	 	0	 	  	 	0	 	  	 	0	 
	 H. Barton Co-Invest Fund II, LLC
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	26,532	 	  	 	0	 	  	 	0	 	  	 	0	 
	 James B. Edwards
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	2,324	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Kahn Trust
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	1,255	 	  	 	0	 	  	 	0	 	  	 	0	 
	 KW Angel Fund LLC
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	1,290	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Beauguitte, Jerome
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	14,253	 	  	 	0	 	  	 	0	 	  	 	0	 
	 Anderson Investments Pte. Ltd. 60B Orchard Road #06-18 Tower 2 The Atrium@Orchard Singapore
238891
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	5,553,889	 	  	 	0	 	  	 	0	 

																																									
	
NAME AND ADDRESS
	  	NUMBER OF
SERIES A
SHARES
HELD	 	  	NUMBER OF
SERIES B
SHARES
HELD	 	  	NUMBER OF
SERIES C
SHARES
HELD	 	  	NUMBER OF
SERIES D
SHARES
HELD	 	  	NUMBER
OF SERIES
D-2
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-1
SHARES
HELD	 	  	NUMBER
OF
SERIES
E-2
SHARES
HELD	 	  	NUMBER OF
SERIES F
SHARES
HELD	 	  	NUMBER
OF SERIES
G-1
SHARES
HELD	 	  	NUMBER
OF SERIES
G-2
SHARES
HELD	 
	 Edward Gillis

7 Merrill St.

Hingham, MA 02043

edgillis@gmail.com
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	22,215	 	  	 	0	 	  	 	0	 
	 EDB Investments Pte Ltd

250 North Bridge Road

#20-03 Raffles City Tower

Singapore 179101

Tel: +65 6832 6832

Fax: +65 6336 6325
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	1,110,777	 	  	 	0	 	  	 	0	 
	 Hadley Harbor Master

Investors (Cayman) L.P.

c/o Wellington Management Company LLP

Attention: Legal and Compliance Department

280 Congress Street

Boston, Massachusetts 02210

Facsimile Number: 617-289-5699

Email address: seclaw@wellington.com
	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	0	 	  	 	4,443,111	 	  	 	0	 	  	 	0	 
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	 	52,000,002	 	  	 	57,857,796	 	  	 	22,883,118	 	  	 	26,930,886	 	  	 	11,115,288	 	  	 	8,695,884	 	  	 	1,950,228	 	  	 	23,381,866	 	  	 	21,621,620	 	  	 	18,181,818EX-10.1

   
 
 

Exhibit 10.1

 

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

LICENSE AGREEMENT

 
 This License
Agreement is entered into and made effective as of this 26th day of August, 2003 (the “Effective Date”), by and between THE SCRIPPS RESEARCH INSTITUTE, a California nonprofit public benefit corporation (“TSRI”) located at
10550 North Torrey Pines Road, La Jolla, California 92037, and Ambrx, Inc., a Delaware corporation (“Licensee”) located at 10410 Science Center Drive, San Diego, California 92121, with respect to the facts set forth below.

 
 RECITALS

 
 A.  TSRI is engaged in fundamental
scientific biomedical and biochemical research including research relating to the development of technologies for the incorporation of unique amino acids into peptides and proteins in vivo.

 
 B.  Licensee is engaged in research and
development activities relating to modifying the structure, function and activity of peptides, proteins and other molecules.
  

C.  TSRI has disclosed to Licensee certain technology and TSRI has the right to grant a license to the technology, subject to certain rights of the
U.S. Government resulting from the receipt by TSRI of certain funding from the U.S. Government.
  

D.  TSRI desires to grant to Licensee, and Licensee wishes to acquire from TSRI, a sole worldwide right and license to certain patent rights and
materials of TSRI, subject to the terms and conditions set forth herein.
  

AGREEMENT
  

NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, TSRI and Licensee hereby agree as follows:

 
  1. Definitions. Capitalized terms shall have
the meaning set forth herein.
  

1.1  Affiliate. The term “Affiliate” shall mean any entity which directly or indirectly controls, or is controlled
by Licensee. The term “control” as used herein means (a) in the case of corporate entities, direct or indirect ownership of at least fifty percent (50%) of the stock or shares entitled to vote for the election of directors; or (b) in the
case of non-corporate entities, direct or indirect ownership of at least fifty percent (50%) of the equity interest with the power to direct the management and policies of such non-corporate entities. Unless otherwise specified, the term Licensee
includes Affiliates.
  

 1.2 Benchmarks. The term “Benchmarks” is defined in Section 6.1 (Commercial Development Plan).

 

1.3  Commercial Development Plan. The term “Commercial Development Plan” is defined in Section
6.1 (Commercial Development Plan) below.
  

1.4  Confidential Information. The term “Confidential Information” shall mean any and all
proprietary or confidential information of TSRI or Licensee which may be exchanged between the parties
  
 

1
 

   

  

at any time and from time to time during the term of this Agreement. Information shall not be considered confidential to the extent that the receiving party can establish by
competent proof that it:
  
 (a) Is publicly disclosed through no fault of any
party hereto, either before or after it becomes known to the receiving party;
 or
  

(b) Was known to the receiving party prior to the date of disclosure, which knowledge was acquired independently and not from
another party hereto (or such party’s employees); or
  

(c) Is subsequently disclosed to the receiving party in good faith by a third party who has a right to make such disclosure;

or
  

 (d) Has been published by a third party as a matter of right; or

 
 (e)  Is
required to be disclosed by law or court order, in which event the party required to make such disclosure shall limit the same to the minimum required to comply with the law or court order, and prior to making such disclosure that party shall notify
the other party, not later than ten (10) days before the disclosure in order to allow that other party to comment and/or to obtain a protective or other order, including extensions of time and the like, with respect to such disclosure.

 
 1.5  Field. The
term “Field” shall mean all fields of use. The Field shall be comprised of several sub-fields (the “Sub-Fields”), consisting of the following:

 

1.5.1 Human Therapeutic: The term “Human Therapeutic” shall mean any compound, mixture of compounds,
formulation or biological preparation, administered individually or in conjunction to cause a pharmacological effect or activity, to treat a specific disease state or medical condition, or to prevent the onset of a specific disease, state or medical
condition in humans;
  

1.5.2 Human Diagnostic: The term “Human Diagnostic” shall mean any compound, mixture of compounds, formulation or
biological preparation, administered individually or in conjunction to permit the diagnosis, identification or monitoring of a disease, state or condition in humans;

 

1.5.3 Human Imaging Reagents: The term “Human Imaging Reagents” shall mean any compound, mixture of
compounds, formulation or biological preparation, administered individually or in conjunction to permit the detection or visualization of a disease state or medical condition in humans;

 

1.5.4 Research Tool: The term “Research Tool” shall mean any composition of matter, method, device, or
improvement thereon utilized for internal drug discovery purposes by a party other than Licensee or an Affiliate; and

 
 
1.5.5 Other: The term “Other” shall mean all other fields of use.
  

1.6  Licensed Biological Materials. The term “Licensed Biological Materials” shall mean (i) the materials to be supplied by TSRI,
as identified using the process more particularly described in Section 2 (Delivery) below, (ii) any progeny, mutants, or derivatives thereof supplied by TSRI, and (iii) any progeny, mutants or derivatives thereof created by Licensee.

 
 1.7  Licensed Patent Rights. The
term “Licensed Patent Rights” shall mean rights arising out of or resulting from (a) the U.S./PCT Patent Application(s) set forth on Exhibit A; (b) the foreign patent applications of (a); (c) all foreign and domestic patents proceeding
from (a) and (b); (d) divisionals, continuations, substitutions, reissues, reexaminations, renewals and extensions of any patent or
  

 
2
 

   

  
 application set
forth in (a)-(c) above; and (e) all claims of continuations-in-part that are entitled to the benefit of the priority date of (a), so long as said patents in (a) - (e) above have not been held invalid and/or unenforceable by a court of competent
jurisdiction from which there is no appeal or, if appealable, from which no appeal has been taken.
  

1.8  Licensed Product. The term “Licensed Product” shall mean (a) any product which cannot be
made, used, imported, sold, or offered for sale without infringing a Valid Claim under the Licensed Patent Rights in the country for which the product is made, used, imported or sold; or (b) any product which utilizes or incorporates Licensed
Biological Materials.
  

1.9  Licensed Process. The term “Licensed Process” shall mean any process which (a) cannot be
performed without infringing a Valid Claim of Licensed Patent Rights in the country where the process is performed; or (b) utilizes or incorporates Licensed Biological Materials.

 

1.10 Licensed Service. The term “Licensed Service” shall mean the performance of a service for a
third party, which performance (a) cannot be performed without infringing a Valid Claim of Licensed Patent Rights in the country where the service is performed, or (b) utilizes or incorporates Licensed Biological Material.

 

1.11 Licensed Technology. The term “Licensed Technology” shall mean any and all rights owned by TSRI
in any technical information, know-how, process, procedure, composition, device, method, formula, protocol, technique, or data applicable to the inventions claimed in the Licensed Patent Rights (but excluding anything in the public domain and
subject to any TSRI pre-existing obligations to third parties), which were conceived or reduced to practice by Peter Schultz or other TSRI personnel under his supervision, prior to the Effective Date, which are not covered by Licensed Patent Rights
but which are reasonably necessary to practice inventions covered by the Licensed Patent Rights.
  

1.12 Net Sales. The term “Net Sales” shall mean the gross amount invoiced by Licensee or its
Affiliate(s), for all sales of Licensed Products, Licensed Processes and Licensed Services less (a) discounts actually allowed; (b) credits for claims, allowances, retroactive price reductions or returned goods; (c) prepaid freight and transit
insurance; (d) sales taxes or other governmental charges actually paid in connection with sales of Licensed Products, Licensed Processes or Licensed Services (but excluding what are commonly known as income taxes and value-added taxes); (e) amounts
payable resulting from governmental (or agency thereof) mandated rebate programs; and (f) any other specifically identifiable amounts included in gross sales that will be credited for reasons substantially equivalent to those listed hereinabove. For
purposes of determining Net Sales, a sale shall be deemed to have occurred when an invoice therefore shall be generated or the Licensed Product shipped for delivery, Licensed Process completed, or Licensed Service provided.

 

 1.13 New License Agreement is defined in Section 3.6(b).

 

1.14 “Novartis Research Products Non-Exclusive License” shall mean the non-exclusive, worldwide
license rights (without right to sublicense) granted by TSRI to Novartis under the Licensed Patent Rights to make and use (but not to sell) “Research Products.” “Research Products” is defined to mean any product, process or
device which is designed or utilized for discovering, improving, developing, or testing a Therapeutic Product, Preventative Medicine Product, or Diagnostic Product, but which is not utilized as a Therapeutic Product, Preventative Medicine Product,
or Diagnostic Product (as said terms are defined in the TSRI-Novartis agreement).
  

 1.15 Royalty Report. The term “Royalty Report” is defined in Section 6.4 (Reports on Net Sales and
Sublicensing Revenues).
  
 

 
3
 

   

  

 1.16 Sub-Field. The term “Sub-Field” is defined in Section 1.5 above.

 

1.17 Sublicense. The term “Sublicense” shall mean any sublicense between Licensee and a third party
(other than an Affiliate) pursuant to which Licensee has granted to such third party the right to make (or have made), import and/or sell Licensed Products, or to whom Licensee has granted the right to practice any method that would infringe a Valid
Claim within the Licensed Patent Rights, or to whom Licensee has granted the right to use a Licensed Process or Licensed Technology, in each case with respect to Licensed Products made by such third party (or by another entity pursuant to such third
party’s “have made” rights), or Licensed Process or Licensed Services rendered by such third party to its customers and end users, and not for internal purposes or use.

 

1.18 Sublicensee. The term “Sublicensee” shall mean a third party (other than an
Affiliate) who has entered into a Sublicense with Licensee.
  

 1.19 Sublicensing Revenues. The term “Sublicensing Revenues” shall mean [***].

 

1.20 Valid Claim. The term “Valid Claim” shall mean a claim of an issued patent within the Licensed
Patent Rights that has not lapsed, expired, been canceled, or become abandoned, and has not been held unenforceable, unpatentable or invalid by a court or other appropriate body of competent jurisdiction, unappealable or unappealed within the time
allowed for appeal and which has not been admitted to be invalid or unenforceable through reissue or disclaimer or otherwise. The term Valid Claim shall also include the claims of a pending patent application within the Licensed Patent Rights for a
period of five (5) years from the date of first examination of that patent application in a particular country.
  

2. Delivery. On or before the expiration of thirty (30) days from the Effective Date, the parties shall meet and agree upon a list of Licensed
Biological Materials to be supplied by TSRI to Licensee hereunder. Promptly upon completing such list, the parties shall initial the list and attach it to this Agreement. The biological materials identified on such list shall be the “Licensed
Biological Materials” described in Section 1.6(i). The failure of the parties to agree on such list upon the expiration of thirty (30) days from the Effective Date shall give either party the right to make a demand for arbitration under
Section 14.9 (Arbitration) below. Promptly upon the identification of the Licensed Biological Materials hereunder, TSRI shall deliver to Licensee the Licensed Biological Materials.

 
  3. Grant of License.

 
 3.1  Grant of License for
Licensed Products. TSRI hereby grants and Licensee accepts, subject to the terms and conditions of this Agreement (including, without limitations, Sections 3.8, 3.9 and 3.10), a sole, exclusive, worldwide right and license under the Licensed
Patent Rights to make and have made, to use and have used, to sell and have sold, to offer to sell, and to import Licensed Products in the Field.

 
 3.2  Grant of
License for Licensed Processes. TSRI hereby grants and Licensee accepts, subject to the terms and conditions of this Agreement (including, without limitations, Sections 3.8, 3.9 and 3.10), a sole, exclusive, worldwide right and license under the
Licensed Patent Rights to use and have used, to sell and have sold, and to offer to sell Licensed Processes in the Field.

 
 3.3 
Grant of License for Licensed Services. TSRI hereby grants and Licensee accepts, subject to the terms and conditions of this Agreement (including, without limitations, Sections 3.8, 3.9

 
 ***Certain information on this page has been
omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
  
 

 
4
 

   

  
 and 3.10), a sole,
exclusive, worldwide right and license under the Licensed Patent Rights to use and have used, to sell and have sold, and to offer to sell Licensed Services in the Field.

 
 3.4  Grant of License for Licensed Biological Materials. TSRI
hereby grants and Licensee accepts, subject to the terms and conditions of this Agreement (including, without limitations, Sections 3.8, 3.9 and 3.10), a sole, exclusive, worldwide right and license to the Licensed Biological Materials to make and
have made, to use and have used, to sell and have sold, to offer to sell, and to import any Licensed Biological Materials in the Field.
  

3.5  Grant of License for Licensed Technology. TSRI hereby grants and Licensee accepts, subject to the terms and conditions of this Agreement, a
non-exclusive, worldwide right and license to the Licensed Technology to make and have made, to use and have used, to sell and have sold, to offer to sell, to lease and to import in the Field, any Licensed Products, Licensed Processes, Licensed
Services, and/or Licensed Biological Materials.
  
  3.6
Sublicensing.
  
 (a) 
Licensee shall have the right to grant Sublicenses (and subsequent tiers of sub-Sublicenses) to any party with respect to the rights conferred upon Licensee under this Agreement, provided, however, that any such Sublicense shall be subject in all
respects to the provisions contained in this Agreement (excluding the payments specified in Sections 4, 5 and 8.3 hereof). In the event of a conflict between this Agreement and the terms of any Sublicense, the terms of this Agreement shall control.
Licensee shall forward to TSRI a copy of any and all fully executed Sublicense within thirty (30) days after execution.
  

(b)  Any Sublicense may survive termination of this Agreement for the benefit of TSRI, in accordance with the provisions of this Section 3.6(b). TSRI
hereby grants to each Sublicensee of Licensee hereunder an option to obtain directly from TSRI a license agreement on substantially same terms and conditions set forth in the applicable Sublicense. On or before the expiration of sixty (60) 
days from the date of termination of this Agreement pursuant to Section 12 (Term and Termination), each Sublicensee may provide TSRI with written notice of intent to exercise the option set forth in this Section 3.6(b). TSRI shall enter into a
license agreement directly with each such Sublicensee (the “New License Agreement”) on substantially the same terms and conditions as those under the sublicense between such Sublicensee and Licensee, including but not limited to
sublicense royalty rate, sublicense scope, sublicense territory, and duration of sublicense grant; provided, however, (i) that Sublicensee shall agree in the New License Agreement to a term providing that in no event shall TSRI be liable to
Sublicensee for any actual or alleged breach of such Sublicense by Licensee; and (ii) that in no event shall TSRI be obliged to accept provisions in the New License Agreement (A) unless such provisions correspond to rights granted by Licensee to
Sublicensee in conformance with this Agreement, and such provisions are not in conflict with the material rights, duties and obligations accruing to Licensee under this Agreement; or (B) where such provisions are inconsistent with TSRI’s legal
obligations under any other Sublicense granted by Licensee, or by applicable federal, state or local statute or regulation.
  

3.7  No Other License. This Agreement confers no license or rights by implication, estoppel, or otherwise under any patent applications or
patents of TSRI other than Licensed Patent Rights and the Licensed Technology, regardless of whether such patents are dominant or subordinate to Licensed Patent Rights.

 
 3.8  Governmental Interest.
Licensee and TSRI acknowledge that TSRI has received, and expects to continue to receive, funding from the United States Government in support of TSRI’s research activities. Licensee and TSRI acknowledge and agree that their respective rights
and obligations pursuant
  
 

 
5
 

   

  
 to this Agreement
shall be subject to the rights of the United States Government which may arise or result from TSRI’s receipt of research support from the United States Government.

 
 3.9  Reservation of Rights. In keeping with the sole
license granted herein, TSRI reserves the right to use for any internal research purposes within its not-for-profit corporate mission and the right to allow other nonprofit or academic institutions to use for its own internal research purposes any
Licensed Patent Rights and Licensed Biological Materials licensed hereunder, without TSRI or such other institutions being obligated to pay Licensee any royalties or other compensation. TSRI shall have no obligation to notify or inform Licensee of
such use.
  
 3.10
Novartis Research Products Non-Exclusive License. The license rights granted by TSRI to Licensee under this Agreement are subject to the non-exclusive license rights granted to Novartis pursuant to the Novartis Research Products Non-Exclusive
License.
  
 4. Stock
License Fee. Licensee shall issue to TSRI Licensee’s common stock representing [***] ownership of Licensee on a fully-diluted basis once Licensee has raised [***] of equity funding. Said shares shall be issued pursuant to a customary Stock
Acquisition Agreement, in a form mutually approved by Licensee and TSRI.
  

 5. Royalties.
  

5.1  Royalties on Net Sales. Licensee shall pay to TSRI earned royalties on Net Sales of Licensee of Licensed Product,
Licensed Process, and Licensed Service, on a country-by-country basis, as follows:
  

5.1.1 Primary Sub-Fields. For use in the Human Therapeutics, Human Diagnostics and Human Imaging Reagent Sub-Fields:

 
 [***] of the
first [***] of annual Net Sales for a particular Licensed Product, Licensed Process or Licensed Service;
 [***] of
the next [***] of annual Net Sales for a particular Licensed Product, Licensed Process or Licensed Service;
  [***]
of any net sales in excess of [***] annual Net Sales for a particular Licensed Product, Licensed Process or Licensed Service.
  

5.1.2 Research Tool or Other Sub-Fields. For the Sub-Fields of Research Tool and Other (e.g., applications relating to industrial enzymes,
agricultural uses or environmental uses), the parties shall negotiate in good faith to determine the appropriate royalties for such Licensed Product, Licensed Process, or Licensed Service prior to any sales thereof by Licensee. Licensee may, from
time to time during the term hereof, provide TSRI with written notice of intent to market and sell Licensed Products, Licensed Processes or Licensed Services, or any of them, in the Research Tool or Other Sub-Fields and propose an applicable royalty
rate for such Licensed Product, Licensed Process or Licensed Service. The parties shall, not more than ten (10) days after delivery of such notice from Licensee to TSRI, meet and negotiate in good faith the applicable royalties therefor and
Commercial Development Plan applicable thereto (in accordance with the provisions of Section 6.1 below). The failure of the parties to agree upon applicable royalties and Commercial Development Plan within sixty (60) days from

 
 ***Certain information on this page has been omitted and filed
separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
  
 

 
6
 

   

  
 delivery of such
notice shall give either party the right to demand arbitration pursuant to the provisions of Section 14.9 (Arbitration) below.
  

5.2  Royalties on Sublicensing Revenues. Licensee shall pay to TSRI earned royalties on Sublicensing Revenues received by
Licensee under Sublicenses, on a country-by-country basis, in an amount equal to [***] of annual Sublicensing Revenues.
  

 5.3 [***]
  

5.4  No Multiple Royalties. Only one royalty (which shall be the highest of the royalties owed to TSRI pursuant to Sections 5.1 and 5.2
above) shall be due under Sections 5.1 and 5.2 above, (i) in the event that more than one Valid Claim within the Licensed Patent Rights is applicable to any Licensed Product, Licensed Service, Licensed Process or Licensed Biological Material, or
(ii) in the event a Licensed Service utilizes or incorporates a Licensed Product or Licensed Process, on which royalties are payable hereunder.

 
 5.5  Arms-Length Transactions. On
sales of Licensed Products, Licensed Services, Licensed Processes, or Licensed Biological Materials which are made in other than an arm’s-length transaction, the value of the Net Sales attributed under this Section 5 to such a transaction
shall be that which would have been received in an arm’s-length transaction, based on sales of like quality and quantity products on or about the time of such transaction. Notwithstanding the foregoing, no royalty shall be payable on sales of
Licensed Products, Licensed Services, Licensed Processes or Licensed Biological Materials among Licensee and its Sublicensees where such sales are not for end use by Licensee or its Sublicensees, nor shall a royalty be payable for any of the
foregoing which are distributed in research and/or development or as part of a clinical trial or as promotional free samples.
  

5.6  Duration of Royalty Obligations. The royalty obligations of Licensee as to each Licensed Product, Licensed Process or Licensed Service
shall terminate (a) on a country-by-country basis concurrently with the expiration of the last to expire of a Valid Claim within Licensed Patent Rights that covers such Licensed Product, Licensed Process or Licensed Service; or (b) for a Licensed
Product, Licensed Process, or Licensed Service which is not covered by a Valid Claim within Licensed Patent Rights, but utilizes or incorporates a Licensed Biological Material, fifteen (15) years after the date of the first commercial sale or such
Licensed Product, Licensed Process, or Licensed Service; and (c) for Licensed Biological Materials, fifteen (15) years from the date of first commercial sale.

 
  5.7 Combination
Products.
  

5.7.1 Definition of Combination Product. As used herein, the term “Combination Product” shall mean a Licensed
Product, Licensed Process or Licensed Service, as applicable, which cannot be manufactured, used, offered to sell, or sold without (a) infringing Licensed Patent Rights, and (b) utilizing one or more patents of (i) a third party’s patent
rights which are licensed pursuant to an agreement between Licensee and such third party, or (ii) TSRI under a license agreement other than this Agreement (collectively referred to herein as “Other Patent Rights”).

 
 5.7.2 Royalty Payable on
Combination Products. The royalty payable by Licensee for sales by Licensee or its Affiliates of a Combination Product shall be the royalty rate set forth in

 
 ***Certain information on this page has been
omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
  
 

 
7
 

   

  
 Section 5.1
(Royalties on Net Sales) above applied to a pro rata portion of Net Sales of Combination Products in accordance with the following formula:
  

[***]
  

[***]
  

[***]
  

[***]
  

The fair market values described above shall be determined by the parties hereto in good faith. In the absence of agreement as to the fair market value of all of the
components contained in a Combination Product, the fair market value of each component shall be determined by arbitration in accordance with the provisions of Section 14.9 (Arbitration) hereof. Notwithstanding the foregoing, in no event shall the
royalty payable by Licensee for sales by Licensee or its Affiliates of a Combination Product be less than [***] of the royalty otherwise payable as set forth in Section 5.1 (Royalties on Net Sales) above.

 
 5.8  Royalty Payments Timing. Royalties payable
pursuant to Section 5 herein shall be payable by Licensee quarterly, within sixty (60) days after the end of each calendar quarter, based upon Net Sales and Sublicensing Revenues accrued during the immediately preceding calendar quarter.

 
  6. Reports on Progress, Sales or
Payments.
  
  6.1
Commercial Development Plan.
  

6.1.1 Commercial Development Plan; Human Therapeutics, Human Diagnostics, and Human Imaging Reagents. On or before the expiration of ninety (90)
days from the Effective Date, Licensee shall provide to TSRI a plan for the commercial development of the subject matter of the Licensed Patent Rights, for the purpose of bringing such subject matter to the point of commercial use in the marketplace
(the “Commercial Development Plan”). The Commercial Development Plan is hereby incorporated by reference into this Agreement. The Commercial Development Plan submitted by Licensee shall, at a minimum, provide that:

 
 (a)  during the first two
(2) years after the Effective Date, Licensee shall (itself or through Sublicensees or others) spend at least [***] applicable to the research and development efforts identified in the Commercial Development Plan;

 
 (b)  in
years three (3) to five (5), Licensee shall (itself or through Sublicensees or others) spend at least [***] per year for the research, development, sales and marketing of Licensed Products;

 
  (c)
reasonable commercialization obligations in subsequent years; and
  

 (d) milestones or other benchmarks (“Benchmarks”) to measure progress against plan.

 
 ***Certain information on this page has been omitted
and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
  
 

 
8
 

   

  

6.1.2 Commercial Development Plan; Research Tools. Concurrently with delivering the notice of intent to market and sell Licensed Product, Licensed
Processes or Licensed Services, or any of them, in the Research Tool Sub-Field, and the commencement of good faith negotiations to determine the appropriate royalties for Research Tools as described in Section 5.1.2, Licensee shall provide to TSRI a
Commercial Development Plan for the commercial development of Research Tools, for the purpose of bringing Research Tools to the point of commercial use in the marketplace. Said Commercial Development Plan for Research Tools shall, at a minimum,
reaffirm Licensee’s intent and plan to develop and make Research Tools, and to make Research Tools readily and presently available for sale to the research community on commercially reasonable terms. In the event that Licensee does not present
a Commercial Development Plan for the commercial development of Research Tools on or before December 31, 2004, TSRI shall have the right (but not the obligation) to convert the exclusive license with respect to Research Tools to a nonexclusive
license, as permitted in Section 6.3 (Right to Reduce Field or Convert to Nonexclusive License) below. Such proposed Commercial Development Plan shall also describe reasonable commercialization obligations, milestones and benchmarks to measure
progress of commercialization thereof. TSRI may not unreasonably withhold approval of any such proposed Commercial Development Plan.
  

6.1.3 Commercial Development Plan; Other. Concurrently with delivering the notice of intent to market and sell Licensed Products, Licensed
Processes or Licensed Services, or any of them, in the Other Sub-Field and the commencement of good faith negotiations to determine the appropriate royalties for such Licensed Products, Licensed Processes or Licensed Services in the Other Sub-Field,
as described in Section 5.1.2, Licensee shall provide to TSRI a Commercial Development Plan for the commercial development of such Licensed Products, Licensed Processes or Licensed Services in the applicable Other Sub-Field, for the purpose of
bringing such Licensed Products, Licensed Processes or Licensed Services in the applicable Other Sub-Field to the point of commercial use in the marketplace. Such proposed Commercial Development Plan shall describe reasonable commercialization
obligations, milestones and benchmarks to measure progress of commercialization thereof. TSRI may not unreasonably withhold approval of any such proposed Commercial Development Plan.

 
  6.2 Progress Reports on
Commercial Development Plan.
  

(a)  Licensee shall provide written annual reports on its product development progress or efforts to commercialize under the applicable Commercial
Development Plan for each of the Sub-Fields within thirty (30) days after the anniversary of the Effective Date of each year. While these reports shall be treated as the Confidential Information of Licensee, Licensee recognizes that TSRI may be
required to disclose certain aspects of the information included with the progress reports to comply with, and hereby consents to disclosures reasonably necessary to comply with, statutory and regulatory reporting requirements.

 
 (b)  Each progress report in a particular
Sub-Field will, until the first commercial sale of a Licensed Product within such Sub-Field, include, but not be limited to the following topics: (a) progress on research and development, (b) status of applications for regulatory approvals, (c)
manufacturing, (d) sublicensing, (e) marketing, and (f) sales. Such topics shall describe events during the preceding year as well as plans for the upcoming year. Each progress reports in a particular Sub-Field will, from and after the first
commercial sale of a Licensed Product within such Sub-Field, include only such information as is reasonably necessary to enable TSRI to comply with governmental reporting requirements applicable to TSRI. TSRI also encourages all progress reports to
include information on any of Licensee’s public service activities that relate to the Licensed Patent Rights.
  

(c)  If reported progress differs materially from that projected in the applicable Commercial Development Plan, Licensee shall
explain the reasons for such differences. In any such
  
 

 
9
 

   

  

annual report, Licensee may propose amendments to the applicable Commercial Development Plan, acceptance of which by TSRI may not be denied unreasonably. Licensee agrees to
provide any additional information reasonably required by TSRI to evaluate Licensee’s performance under this Agreement. Licensee may amend the milestones included within the Commercial Development Plan at any time upon written consent by TSRI,
which consent shall not be unreasonably withheld. TSRI shall not unreasonably withhold approval of any request of Licensee to extend the time periods of the schedule described in the Commercial Development Plan if such request is supported by a
reasonable showing by Licensee of diligence in its performance under the Commercial Development Plan and toward bringing the Licensed Product to the point of commercial use.

 
 6.3  Right to Reduce Field or Convert License to
Nonexclusive. At any time during the term hereof, commencing two (2) years after the Effective Date of this Agreement, TSRI may provide Licensee with written notice of intent to reduce the scope of the Field (by eliminating an applicable
Sub-Field) or to render the license set forth in Section 3 (Grant of License) non-exclusive with respect to an applicable Sub-Field if, in TSRI’s reasonable judgment, the progress reports furnished by Licensee do not demonstrate that Licensee:
(a) has put the licensed subject matter into commercial use in the country or countries hereby licensed, directly or through a Sublicense, and is keeping the license subject matter reasonably available to the public; or (b) is engaged in research,
development, manufacturing, marketing or sublicensing activity appropriate to achieving the goals set forth in the Commercial Development Plan. TSRI shall not have the right to deliver such notice if and to the extent Licensee shall have achieved
the applicable Benchmark with respect to the applicable Sub-Field specified in the then-current Commercial Development Plan. Upon the receipt of such notice, the parties shall meet, discuss and negotiate in good faith what, if any, reduction to the
scope of the Field or conversion of the license set forth in Section 3 (Grant of License) to non-exclusive, is appropriate under the circumstances. The failure of the parties to agree upon the expiration of ninety (90) days from delivery of such
notice shall give either party the right to demand arbitration under the terms of Section 14.9 (Arbitration) below.
  

6.4  Reports on Net Sales and Sublicensing Revenues. Licensee shall submit to TSRI, no later than sixty (60) days after then end of each
calendar quarter, a royalty report (the “Royalty Report”) setting forth the following information for the preceding calendar quarter:

 
  (a) the number of Licensed
Products sold by Licensee and its Affiliates;
  

 (b) the total billings for such Licensed Products;

 
  (c) an accounting
for all Licensed Processes used or sold by Licensee and its Affiliates;
  

 (d) an accounting of all revenues received by Licensee for Licensed Services performed;

 
  (e) the amount of
Licensed Biological Materials sold by Licensee and its Affiliates;
  

 (f) the total billings for such Licensed Biological Materials;

 
  (g) deductions
applicable to determine the Net Sales;
  

 (h) the amount and composition of Sublicensing Revenues that Licensee receives from its Sublicensees;

 
 

 
10
 

   

  

(i) the amount of royalty due thereon, or if no royalties are due to TSRI for any reporting period, the statement that no royalties are due.

 
 Such Royalty Report shall be certified as correct by an officer of
Licensee and shall include a detailed listing of all deductions from royalties.
  

6.5  Royalty Payments. Licensee agrees to pay and shall pay to TSRI with each Royalty Report the amount of royalty due with respect to such
calendar quarter. If multiple technologies are covered by the license granted hereunder, Licensee shall specify which Licensed Patent Rights and Licensed Biological Materials are utilized for each Licensed Product, Licensed Process, and/or Licensed
Service included in the Royalty Report. All payments due hereunder shall be deemed received when funds are credited to TSRI’s bank account and shall be payable by check or wire transfer in United States dollars.

 
 6.6  Foreign Sales. The remittance
of royalties payable on Net Sales or Sublicensing Revenues outside the United States shall be payable to TSRI in United States Dollar equivalents at the official rate of exchange of the currency of the country from which the royalties are payable,
as quoted in the Wall Street Journal for the last business day of the calendar quarter in which the royalties are payable. If the transfer of or the conversion into the United States Dollar equivalents of any such remittance in any such instance is
not lawful or possible, the payment of such part of the royalties as is necessary shall be made by the deposit thereof, in the currency of the country where the sale was made on which the royalty was based to the credit and account of TSRI or its
nominee in any commercial bank or trust company of TSRI’s choice located in that country, prompt written notice of which shall be given by Licensee to TSRI.

 
 6.7  Foreign Taxes. Any tax
required to be withheld by Licensee under the laws of any foreign country for the accounts of TSRI shall be promptly paid by Licensee for and on behalf of TSRI to the appropriate governmental authority, and Licensee shall use its diligent efforts to
furnish TSRI with proof of payment of such tax together with official or other appropriate evidence issued by the applicable government authority. Any such tax actually paid on TSRI’s behalf shall be deducted from royalty payments due
TSRI.
  
  7. Record Keeping.

 
 7.1  Maintenance of
Records. Licensee shall keep, and shall require its Affiliates to keep, accurate records (together with supporting documentation) of Licensed Products, Licensed Services, Licensed Processes and Licensed Biological Materials made, used or sold
under this Agreement, appropriate to determine the amount of royalties due to TSRI hereunder. Such records shall be retained for at least five (5) years following the end of the reporting period to which such records relate.

 
 7.2  Examination of Records. The
records shall be available during normal business hours for examination by an accountant selected by TSRI, for the sole purpose of verifying reports and payments hereunder. In conducting examinations pursuant to this Section, TSRI’s accountant
shall have access to, and may disclose to TSRI, all records which TSRI reasonably believes to be relevant to the calculation of royalties under Section 5. All such information received by TSRI’s accountant and disclosed to TSRI shall be deemed
Confidential Information of Licensee. Except as set forth above, TSRI’s accountant shall not disclose to TSRI any information other than information relating to the accuracy of reports and payments made hereunder.

 
 7.3  Expenses for
Examination; Interest Charge. Such examination by TSRI’s accountant shall be at TSRI’s expense, except that if such examination shows an underreporting or underpayment in

 
 

 
11
 

   

  

 excess of [***] for any twelve (12) month period, then Licensee shall pay the cost
of such examination as well as any additional sum that would have been payable to TSRI had the Licensee reported correctly, plus interest on said sum at the rate of [***] per month. All payments due hereunder shall be made within fifteen (15) days
of receipt of a written demand from TSRI.
  
 8.
Patent Matters.
  
 8.1
Patent Prosecution and Maintenance. From and after the date of this Agreement, the provisions of this Section 8 (Patent Matters) shall control the prosecution and maintenance of any patent included within Licensed Patent Rights. Subject to
the requirements, limitations and conditions set forth in this Agreement, TSRI shall (a) direct and control the preparation, filing and prosecution of the United States and foreign patent applications within Licensed Patent Rights (including any
reissues, reexaminations, appeals to appropriate patent offices and/or courts, interferences and foreign oppositions); and (b) maintain the patents issuing therefrom. TSRI shall select the patent attorney, subject to Licensee’s written
approval, which approval shall not be unreasonably withheld. Both parties hereto agree that TSRI may, at its sole discretion, utilize TSRI’s Office of Patent Counsel in lieu of or in addition to independent counsel for patent prosecution and
maintenance described herein, and the fees and expenses incurred by TSRI with respect to work done by such Office of Patent Counsel and/or independent counsel shall be paid as set forth below. Licensee shall have full rights of consultation with the
patent attorney so selected on all matters relating to Licensed Patent Rights. TSRI shall use its best efforts to implement all reasonable and timely requests made by Licensee with regard to the preparation, filing, prosecution and/or maintenance of
the patent applications and/or patents within Licensed Patent Rights. So long as Licensee agrees to pay, and in fact pays, costs in accordance with the provisions of this Section 8 (Patent Matters), TSRI shall apply for, prosecute and maintain such
patents and obtain such Licensed Patent Rights as Licensee shall reasonably request.
  

8.2 Information to Licensee. TSRI shall keep Licensee timely informed with regard to the patent application and maintenance processes. TSRI shall deliver
to Licensee copies of all patent applications, amendments, related correspondence, and other related matters in a timely matter. TSRI shall use its best efforts to (i) promptly provide copies to Licensee of all correspondence received from the
relevant patent office or authority (the “PTO”); (ii) promptly provide copies to Licensee of all correspondence directed to the PTO prior to submission of such correspondence (including, but not limited to, patent applications, responses
to office actions, and any amendments); (iii) allow Licensee thirty (30) days to comment on any such correspondence directed to the PTO; and (iv) incorporate Licensee’s comments in any such correspondence.

 
 8.3 Patent Costs. Licensee
acknowledges and agrees that the license granted hereunder is in partial consideration for Licensee’s assumption of patent costs and expenses as described herein. Subject to the provisions of Section 8.5 (Abandonment), Licensee agrees to pay
and shall pay for all expenses incurred pursuant to Section 8.1 (Patent Prosecution and Maintenance) hereof. In addition, Licensee agrees to reimburse and shall reimburse TSRI for all patent costs and expenses paid or incurred in connection with
Licensed Patent Rights. Licensee agrees to pay and shall pay all such past and future patent expenses within thirty (30) days after Licensee receives an itemized invoice therefor. Payment can be made directly to independent counsel, or to TSRI.

 
 8.4 Ownership. The patent
applications filed and the patents obtained by TSRI pursuant to Section 8.1 (Patent Prosecution and Maintenance) hereof shall be owned solely by TSRI, assigned solely to TSRI and deemed a part of Licensed Patent Rights.

 
 ***Certain information on this page has been omitted and filed
separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
  
 

 
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8.5 Abandonment.

 
 8.5.1 Abandonment by
Licensee. Licensee may elect, with a minimum of ninety (90) days prior written notice to TSRI, to discontinue payment for the filing, prosecution and/or maintenance of any patent application and/or patent within Licensed Patent Rights on a
country-by-country basis. Licensee shall remain liable for all patent prosecution and maintenance costs incurred prior to the date of notice of election and for a ninety (90) day period following date of such notice. Any patent application or patent
in any country for which Licensee elects to discontinue payment shall, upon the expiration of such 90-day period, be converted to a non-exclusive license in such country for purposes of this Agreement, and non-exclusive rights relating thereto in
such country shall revert to TSRI and may be freely licensed on a non-exclusive basis by TSRI. In the event that TSRI shall receive in a country an offer to license such reverted technology on an exclusive basis in exchange for, among other things,
payment of patent costs and expenses for such technology in such country, then, if TSRI desires to accept such opportunity, TSRI shall provide Licensee with written notice of such exclusive license opportunity. Licensee shall have fifteen (15)
business days within which to elect to assume payment of all patent costs and expenses (as described in Section 8.3 (Patent Costs) above) on account of such technology in such country, in which event the license granted in Section 3 (Grant of
License) above shall again be an exclusive grant. If Licensee does not provide TSRI with written notice of intent to assume patent costs and expenses (as described in Section 8.3 (Patent Costs) above), then TSRI shall have the right to license such
technology in such country to such entity on an exclusive basis, and all rights relating thereto in such country shall revert to TSRI.
  

8.5.2 Default by Licensee. Failure of Licensee to pay patent costs and expenses as set forth in Section 8.3 (Patent Costs) shall, upon the expiration of
three (3) business days notice from TSRI without payment, relieve TSRI from its obligation to incur any further patent costs and expenses. For the avoidance of doubt, should Licensee be in arrears for any patent costs and expenses due TSRI or
independent counsel, TSRI shall have the right, at its sole discretion, upon the expiration of such 3-business day period to cease all patent prosecution and allow Licensed Patent Rights to go abandoned. Such action by TSRI shall not constitute a
breach of this Agreement.
  
 8.5.3 Termination. If at
any time during the term of this Agreement, Licensee’s rights with respect to Licensed Patent Rights are terminated, TSRI shall have the right to take whatever action TSRI deems appropriate to obtain or maintain the corresponding patent
protection. If TSRI pursues patents under this Section 8.5.3 (Termination), Licensee agrees to cooperate fully, including by providing at no charge to TSRI, all appropriate technical data and executing all necessary legal documents reasonably
necessary for TSRI to pursue such patent protection. All information or technical data delivered by Licensee to TSRI shall be deemed Confidential Information of Licensee hereunder.

 
 8.6 Infringement Actions.

 
 8.6.1 Notice. Licensee and
TSRI shall each inform the other promptly in writing of any substantial infringement by a third party of the Licensed Patent Rights covering Licensed Products, Licensed Services and/or Licensed Processes which comes to their attention and of any
available evidence thereof.
  
 8.6.2 Licensee’s
Right to Sue. During the term of this Agreement, the parties shall consult with each other regarding the infringement of any patent within Licensed Patent Rights. During or following said consultation, Licensee shall have the first and sole
right to take steps to abate the infringement and/or to institute, prosecute and control at its own expense any action or proceeding with respect to any infringement of such patent by a third party and, in furtherance of such right, TSRI hereby
agrees that Licensee may include and join TSRI as a party plaintiff in any such suit, without expense to
  
 

 
13
 

   

  
 TSRI. If Licensee
determines that such action against an infringer would be commercially unreasonable, then Licensee may elect to not take any such action or institute any such proceeding. In this regard, Licensee shall be entitled to use its reasonable commercial
discretion in determining (a) whether to contact and/or institute any action or proceeding against an alleged third party infringer; (b) the timing of any contact with an alleged third party infringer and/or action or proceeding to be instituted
against an alleged third party infringer; (c) the venue of any action or proceeding to be instituted against an alleged third party infringer; and (d) should there be more than one alleged third party infringer, which alleged infringer to contact
regarding its alleged infringement or against whom any action or proceeding is to be brought, it being further understood and agreed that, during such time as Licensee is pursuing any action or proceeding against one alleged third party infringer,
Licensee shall have no obligation to contact and/or pursue additional alleged infringers.
  

8.6.3 TSRI’s Right to Sue. If, in the case of a third party infringement for which Licensee decides not to pursue an action and provides TSRI its
reasons why such action is commercially unreasonable, TSRI disagrees with Licensee’s assessment that such actions are commercially unreasonable, and TSRI desires to pursue an action to prevent such infringement, then TSRI may initiate an
arbitration as provided in Section 14.9 (Arbitration) below for a determination of whether Licensee’s position is correct that it is commercially unreasonable to take action against such infringer. In the event such arbitrator finds that
Licensee’s reasons for not pursuing an action are legitimate (i.e., that an action would be commercially unreasonable), then Licensee shall have no further obligation with respect thereto. In the event such arbitrator finds that
Licensee’s reasons are insufficient and that an action would be commercially reasonable, then Licensee or its Sublicensee, at Licensee’s option, may pursue an action against such third party infringer. In the event that Licensee or its
Sublicensee does not pursue such action, then TSRI shall have the right to pursue the infringement action against such third party infringer, in which case TSRI shall indemnify, defend and hold Licensee harmless from any costs, expenses or liability
respecting all such actions undertaken by TSRI. In the event that TSRI does take action against such third party infringer, then Licensee will pay up to [***] of TSRI’s litigation expenses, including reasonable attorney’s fees. In the
event that TSRI recovers money as a result of a judgment or settlement in such action, Licensee shall receive [***] of such judgment or settlement, after reimbursement to TSRI and Licensee of the litigation expenses borne by each. Alternatively, at
Licensee’s option, Licensee may terminate its license as to the patents within Licensed Patent Rights that are the subject of such action upon written notice to TSRI. If TSRI takes no action against such third party infringer, then Licensee
will have no obligation to TSRI.
  
 8.6.4 Licensee’s
Action. In the event that Licensee determines to bring suit against an alleged third party infringer, any recovery of damages shall be distributed pursuant to Section 8.6.5 below. In the event such infringement adversely affects the scope or
validity of the Licensed Patent Rights, no settlement, consent judgment or other voluntary disposition of any such suit may be entered into without the consent of TSRI, which consent shall not be unreasonably withheld or delayed. TSRI shall have
fifteen (15) days from the date of Licensee’s written notice to TSRI either to consent or object in writing, stating in reasonable detail the reasons for withholding consent. No response within such period shall be deemed to constitute
TSRI’s consent. Licensee shall indemnify TSRI against any order for costs that may be made against TSRI as a result of any action or inaction by Licensee in such proceedings. Notwithstanding the foregoing, TSRI may elect at its option to
participate in the prosecution of any such infringement action through counsel of its own choice at its own expense.
  

***Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

 
 

 
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 8.6.5
Recovery by Licensee. In the event Licensee shall undertake the enforcement of the Licensed Patent Rights covering the Licensed Products, Licensed Services, or Licensed Processes, any recovery of damages by Licensee as a result of a judgment
or settlement in such action, shall first be applied in satisfaction of any litigation expenses of Licensee and TSRI relating to such suit, and TSRI shall receive [***] of the balance remaining from any such recovery.

 
 8.6.6 Cooperation. In any infringement suit which either
party may institute to enforce the Licensed Patent Rights pursuant to this Agreement, or in a suit for patent infringement which is brought by a third party against TSRI or Licensee, which either party or both parties are required or elect to
defend, the other party hereto shall, at the request and the expense of the party initiating or defending such suit, cooperate in all reasonable respects and, to the extent reasonably possible, have its employees testify when requested and make
available relevant records, papers, information, samples, specimens and the like.
  

8.6.7 Settlement Sublicense. Licensee shall have the sole right, subject to the terms and conditions hereof, to sublicense any alleged infringer for past
or future use of the Licensed Patent Rights and Licensed Technology for Licensed Products, Licensed Services, or Licensed Processes. Any upfront fees paid to Licensee as part of a sublicense made in settlement of the infringement action shall be
applied first in satisfaction of any expenses and legal fees of Licensee relating to such suit and the balance remaining from any such recovery distributed as set forth in Section 5.2 (Royalties on Sublicensing Revenues).

 
 8.7 Infringement Defense. Licensee shall have the first
right, but not the obligation, to defend any suits against Licensee or Sublicensees alleging infringement of any third party patent right due to the development and/or commercialization of Licensed Products, Licensed Services or Licensed Processes
by Licensee. If the alleged infringement results from the exercise of Licensed Patent Rights and not solely from the exercise of any other patent rights owned or controlled by Licensee, then this Section shall apply. Licensee shall promptly notify
TSRI, and TSRI and Licensee shall confer with each other and cooperate during the defense of any such action. If Licensee finds it necessary or desirable for TSRI to become a party to such action, TSRI shall execute all papers or perform such other
acts as may reasonably be required by Licensee. Licensee shall bear the costs and expenses associated with any such suit or action. TSRI shall be entitled to, at its expense, participate in and have counsel selected by it participate in any such
action. In no event shall TSRI have any out-of-pocket liability for costs of litigation or royalties, damages and/or settlement amounts due to any third party (except for costs of its own counsel as provided above). If the third party patent right
is held not to be infringed, unenforceable or invalid, by a court or other tribunal from which no appeal can be or is taken, any recovery of damages for such suit shall be applied first in satisfaction of any fees and expenses of TSRI and Licensee,
on a pro rata basis, and Licensee shall be entitled to keep the balance remaining from any such recovery.
  

8.8 Validity Challenge. If a third party challenges the validity of the Licensed Patent Rights in a declaratory relief action or proceeding, in an
opposition action, in an interference action or proceeding or other than in connection with a suit or proceeding described in Section 8.6 (Infringement Actions), Licensee and TSRI shall confer regarding the need and desirability of defending such
challenge, and each party may apply its own business judgment as to whether to defend any litigation applicable to the challenge. In the event that Licensee elects to defend the Licensed Patent Rights against a challenge to the validity of the
Licensed Patent Rights, Licensee shall assume responsibility to defend against that challenge, in consultation with TSRI.
  

***Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

 
 

 
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9. Indemnity and Insurance.

 
 9.1
Indemnity.
  
 (a) Licensee
hereby agrees to indemnify, defend and hold harmless TSRI and any parent, subsidiary or other affiliated entity and their trustees, officers, employees, scientists and agents (collectively, the “Indemnitees”) from and against any
liability or expense arising from any product liability claim asserted by any party as to any Licensed Product or any claims arising from the use of any Licensed Patent Rights or Licensed Biological Materials pursuant to this Agreement. Such
indemnity and defense obligation shall apply to any product liability or other claims, including without limitation, personal injury, death or property damage, made by employees, subcontractors, sublicensees, or agents of Licensee, as well as any
member of the general public. Licensee shall use its reasonable efforts to have TSRI and any parent, subsidiary or other affiliated entity and their trustees, officers, employees, scientists and agents named as additional insured parties on any
product liability insurance policies maintained by Licensee, its Affiliates and Sublicensees applicable to Licensed Products.
  

(b) Licensee shall, at its own expense, provide attorneys reasonably acceptable to TSRI to defend against any actions brought or filed against
any Indemnitee hereunder with respect to the subject of indemnity contained herein, whether or not such actions are rightfully brought.

 
 9.2
Insurance.
  
 (a)
Beginning at the time any such Licensed Product, Licensed Process, or Licensed Service is being commercially distributed or sold (other than for the purpose of obtaining regulatory approvals) by Licensee or by a Sublicensee, Licensee shall, at its
sole cost and expense, procure and maintain commercial general liability insurance in amounts not less than $2,000,000 per incident and $2,000,000 annual aggregate, and Licensee shall use reasonable efforts to have the Indemnitees named as
additional insureds. During clinical trials of any such product, process or service, Licensee shall, at its sole cost and expense, procure and maintain commercial general liability insurance in such equal or lesser amount as TSRI shall reasonably
require, and Licensee shall use reasonable efforts to have the Indemnitees named as additional insureds. Such commercial general liability insurance shall provide (i) product liability coverage; (ii) broad form contractual liability coverage for
Licensee’s indemnification under this Agreement; and (iii) coverage for litigation costs. If Licensee elects to self-insure all or part of the limits described above (including deductibles or retentions which are in excess of $250,000 annual
aggregate) such self-insurance program must be acceptable to TSRI in its reasonable discretion. The minimum amounts of insurance coverage required shall not be construed to create a limit of Licensee’s liability with respect to its
indemnification under this Agreement.
  
 (b)
Licensee shall provide TSRI with written evidence of such insurance upon request of TSRI. Licensee shall provide TSRI with written notice at least fifteen (15) days prior to the cancellation, non-renewal or material change in such insurance.

 
 (c) Licensee shall maintain such commercial
general liability insurance beyond the expiration or termination of this Agreement during (a) the period that any Licensed Product, Licensed Process, or Licensed Service relating to, or developed pursuant to, this Agreement is being commercially
distributed or sold by Licensee or by a Sublicensee, Affiliate or agent of Licensee; and (b) a reasonable period after such period, which in no event shall be less than fifteen (15) years.

 
 (d) The failure of Licensee to obtain insurance as required by
this Section 9 (Indemnity and Insurance) shall not be a default hereunder unless TSRI can show that insurance or replacement insurance providing comparable coverage as that described in this Section 9 is available at

 
 

 
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 reasonable cost, with reasonable
coverage and reasonable deductions. The failure of the parties to agree shall give either party a right to demand arbitration under Section 14.9 (Arbitration) below.
  

10. Limited Warranty; Liability Limitations.

 
 10.1
Authority Warranty. TSRI hereby represents and warrants that it has full authority, right and power to enter into this Agreement.

 
 10.2 Ownership Warranty. TSRI hereby
represents and warrants that it has the right, title and interest necessary and appropriate to grant the licenses set forth in Section 3 (Grant of License). TSRI further represents and warrants that it has not previously entered into any written
agreement to license or otherwise grant rights to use any of the Licensed Patent Rights or Licensed Biological Materials, other than as specified in this Agreement (including specifically Sections 3.8, 3.9, and 3.10).

 
 10.3 Disclaimers. EXCEPT AS SET FORTH IN SECTIONS 10.1
AND 10.2 ABOVE, TSRI MAKES NO OTHER WARRANTIES CONCERNING LICENSED PATENT RIGHTS, LICENSED BIOLOGICAL MATERIALS OR LICENSED TECHNOLOGY COVERED BY THIS AGREEMENT, INCLUDING WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE AS TO LICENSED PATENT RIGHTS, LICENSED BIOLOGICAL MATERIALS, OR ANY LICENSED TECHNOLOGY, LICENSED PRODUCT, LICENSED PROCESS, OR LICENSED SERVICE. TSRI MAKES NO WARRANTY OR REPRESENTATION AS TO THE VALIDITY OR SCOPE
OF LICENSED PATENT RIGHTS, OR THAT ANY LICENSED PRODUCT WILL BE FREE FROM AN INFRINGEMENT ON PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR THAT NO THIRD PARTIES ARE IN ANY WAY INFRINGING LICENSED PATENT RIGHTS, LICENSED
TECHNOLOGY OR LICENSED BIOLOGICAL MATERIALS COVERED BY THIS AGREEMENT. FURTHER, TSRI HAS MADE NO INVESTIGATION AND MAKES NO REPRESENTATION THAT THE BIOLOGICAL MATERIALS SUPPLIED BY IT OR THE METHODS USED IN MAKING OR USING SUCH MATERIALS ARE FREE
FROM LIABILITY FOR PATENT INFRINGEMENT.
  
 10.4 Limits on
Liability. IN NO EVENT SHALL TSRI BE LIABLE FOR ANY INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS OR EXPECTED SAVINGS OR OTHER ECONOMIC LOSSES, OR FOR INJURY TO PERSONS OR PROPERTY)
ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ITS SUBJECT MATTER, REGARDLESS OF WHETHER TSRI KNOWS OR SHOULD KNOW OF THE POSSIBILITY OF SUCH DAMAGES. TSRI’S AGGREGATE LIABILITY FOR ALL DAMAGES OF ANY KIND RELATING TO THIS AGREEMENT OR
ITS SUBJECT MATTER SHALL NOT EXCEED THE AMOUNT PAID BY LICENSEE TO TSRI UNDER THIS AGREEMENT. THE FOREGOING EXCLUSIONS AND LIMITATIONS SHALL APPLY TO ALL CLAIMS AND ACTIONS OF ANY KIND, WHETHER BASED ON CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO
NEGLIGENCE), OR ANY OTHER GROUNDS.
  

11. Confidentiality and Publication.

 
 11.1
Treatment of Confidential Information. The parties agree that during the term of this Agreement, and for a period of five (5) years after this Agreement terminates, a party receiving Confidential Information of the other party will (a)
maintain in confidence such Confidential Information to the same extent such party maintains its own proprietary information; (b) not disclose such Confidential Information to any third party without prior written consent of the other party; and (c)
not use such Confidential Information for any purpose except those permitted by this Agreement. Notwithstanding the foregoing, Licensee may disclose Confidential Information of TSRI, with suitable

 
 

 
17
 

   

  
 protections in place, to the extent
reasonably necessary to exploit the right and license granted to Licensee hereunder (including the right to authorize and grant sublicenses).
  

11.2 Publications. Licensee agrees that TSRI shall have a right to publish in accordance with its general policies, and that this
Agreement shall not restrict, in any fashion, TSRI’s right to publish.
  

11.3 Publicity. Except as otherwise provided herein or required by law, no party shall originate any publication, news release or other public
announcement, written or oral, whether in the public press, public stockholders’ reports, or otherwise, relating to this Agreement or to any Sublicense hereunder, or to the performance hereunder or any such agreements, without the prior
written approval of the other party, which approval shall not be unreasonably withheld. Scientific publications published in accordance with Section 11.2 of this Agreement shall not be construed as publicity governed by this Section 11.3.
Notwithstanding the foregoing, Licensee shall be entitled to furnish a copy of this Agreement to Licensee’s shareholders, prospective investors and professional advisors, to other parties with whom Licensee has or is evaluating a business
relationship, under reasonable conditions of confidentiality, and to the U.S. Securities & Exchange Commission.
  

12. Term and Termination.

 
 12.1
Term. Unless terminated sooner in accordance with the terms set forth herein, this Agreement, and the license granted hereunder, shall terminate as provided in Section 5.6 hereof.

 
 12.2 Termination Upon
Mutual Agreement. This Agreement may be terminated by mutual written consent of both parties.
  

12.3 Termination by TSRI. TSRI may terminate this Agreement as follows:

 
 (a) If Licensee does not make a
payment due hereunder and fails to cure such non-payment (including the payment of interest in accordance with Section 14.2) within thirty (30) days after the date the notice in writing of such non-payment is received by Licensee;

 
 (b) If Licensee defaults in its indemnification obligations
under Section 9 and fails to cure said default within sixty (60) days after the date the notice in writing of such default is received by Licensee;

 
 (c) If Licensee defaults in the
performance of any material obligation under this Agreement and the default has not been remedied within sixty (60) days after the date the notice in writing of such default is received by Licensee; provided however, that if Licensee disputes an
asserted breach in writing within such sixty (60) day period, TSRI shall not have the right to terminate this Agreement unless and until it has been determined in an arbitration proceeding under Section 14.9 below that this Agreement was materially
breached, and Licensee fails to cure such breach within seven (7) days after such determination;
  

(d) If by the first anniversary of the Effective Date, Licensee has not secured at least [***] in investment funding, which termination is
effective upon the expiration of thirty (30) days after written notice by TSRI;
  

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 (e) If Licensee
shall become insolvent, shall make an assignment for the benefit of creditors, or shall have a petition in bankruptcy filed for or against it, which petition shall not have been dismissed upon the expiration of sixty (60) days after its filing. Such
termination shall be effective immediately upon TSRI giving written notice to Licensee at the occurrence of such event;
  

(f) If Licensee is convicted of a felony relating to the manufacture, use or sale of Licensed Products, Licensed Services, Licensed Processes or
Licensed Biological Material.
  
 12.4
Termination by Licensee. Licensee may terminate this Agreement in its entirety, or as to any particular patent application or patent within the Licensed Patent Rights, (a) without cause, by giving ninety (90) days advance written notice of
termination to TSRI or (b) in accordance with the provisions of Section 8.5 (Abandonment) above. From and after the effective date of a termination under this Section 12.4 (Termination by Licensee) with respect to a particular patent application or
patent, such patent application or patent in the particular country or countries shall cease to be within the Licensed Patent Rights for all purposes of this Agreement.

 
 12.5 Rights Upon Expiration. Neither party shall have
any further rights or obligations upon the expiration of this Agreement upon its regularly scheduled expiration date with respect to this Agreement, other than the obligation of Licensee to make any and all reports and payments for the final
quarterly reporting period, and the right of Licensee (and its Sublicensees) to continue to practice and use, on a royalty-free basis, the Licensed Patent Rights and the Licensed Technology. Further, upon such expiration, each party shall be
required to continue to abide by its non-disclosure obligations as described in Section 11.1. The right of TSRI to audit pursuant to Section 7, and the parties’ respective obligations to indemnify as described in Section 9 hereof shall also
survive expiration.
  
 12.6 Rights Upon Termination.
Notwithstanding any other provision of this Agreement, upon any termination of this Agreement prior to the regularly scheduled expiration date of this Agreement, the license granted hereunder shall terminate. Except as otherwise provided in Section
12.7 of this Agreement with respect to work-in-progress, upon such termination, Licensee shall have no further right to develop, manufacture or market any Licensed Product, Licensed Service, or Licensed Process, or to otherwise use any Licensed
Patent Rights or any Licensed Biological Materials. Upon any such termination, Licensee shall promptly return all materials, samples, documents, information, and other materials which embody or disclose Licensed Patent Rights or any Licensed
Biological Materials; provided, however, that Licensee shall not be obligated to provide TSRI with proprietary information which Licensee can show that it independently developed. Any such termination shall not relieve either party from any
obligations accrued to the date of such termination. Upon such termination, each party shall be required to abide by its nondisclosure obligations as described in Section 11.1. The right of TSRI to audit pursuant to Section 7, and the parties’
respective obligations to indemnify as described in Section 9 hereof, and the rights of the U.S. Government as described in Section 3.8, hereof shall also survive termination.

 
 12.7 Work-in-Progress. Upon any such early termination
of the license granted hereunder in accordance with this Agreement, Licensee shall be entitled to finish any work-in-progress and to sell any completed inventory of a Licensed Product covered by such license which remain on hand as of the date of
the termination, so long as Licensee pays to TSRI the royalties applicable to said subsequent sales in accordance with the terms and conditions as set forth in this Agreement, provided that no such sales shall be permitted after the expiration of
six (6) months after the date of termination.
  

12.8 Final Royalty Report. Upon termination or expiration of this Agreement, Licensee shall submit a final report to TSRI, and any
payments due TSRI and unreimbursed patent expenses invoiced by TSRI shall become immediately payable.
  
 

 
19
 

   

  

13. Assignment; Successors.

 
 13.1 Assignment. Any and
all assignments of this Agreement or any rights granted hereunder by Licensee without the prior written consent of TSRI are void; provided, however, in the event Licensee is acquired by a third party (e.g., by merger, consolidation or purchase of
substantially all assets), then this Agreement may be assigned to said third party acquirer, without the need for consent from TSRI, so long as the third party agrees to be bound by the terms of this Agreement.

 
 13.2 Binding Upon Successors and Assigns. Subject to
the limitations on assignment herein, this Agreement shall be binding upon and inure to the benefit of any successors in interest and assigns of TSRI and Licensee. Any such successor or assignee of Licensee’s interest shall expressly assume in
writing the performance of all the terms and conditions of this Agreement to be performed by Licensee.
  

14. General Provisions.

 
 14.1 Independent
Contractors. The relationship between TSRI and Licensee is that of independent contractors. TSRI and Licensee are not joint venturers, partners, principal and agent, master and servant, employer or employee, and have no other relationship other
than independent contracting parties. TSRI and Licensee shall have no power to bind or obligate each other in any manner, other than as is expressly set forth in this Agreement.

 
 14.2 Late Payments. Late payments of
any and all payments due hereunder shall be subject to a charge of [***] per month.
  

14.3 Governmental Approvals and Marketing of Licensed Products. Licensee shall be responsible for obtaining all necessary governmental approvals for the
development, production, distribution, sale and use of any Licensed Product, Licensed Service and/or Licensed Process, at Licensee’s expense, including, without limitation, any safety studies. Licensee shall have sole responsibility for any
warning labels, packaging and instructions as to the use of Licensed Products and for the quality control for any Licensed Product.
  

14.4 Patent Marking. To the extent required by applicable law, Licensee shall mark all Licensed Products or their containers in
accordance with the applicable patent marking laws.
  

14.5 No Use of Name. The use of the name “The Scripps Research Institute”, “Scripps”, “TSRI” or any
variation thereof in connection with the advertising or sale of Licensed Products is expressly prohibited.
  

14.6 U.S. Manufacture. To the extent required by applicable law, Licensee agrees to abide by the Preference for United States Industry
as set forth in 37 CFR 401.14 (I).
  

14.7 Foreign Registration. Licensee agrees to register this Agreement with any foreign governmental agency which requires such
registration, and Licensee shall pay all costs and legal fees in connection therewith. In addition, Licensee shall assure that all foreign laws affecting this Agreement or the sale of Licensed Products are fully satisfied.

 
 14.8 Use of Biological
Materials. With respect to Licensee’s use of any Licensed Biological Materials, Licensee hereby agrees to comply with all applicable statutes, regulations, and guidelines.

 
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separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
  
 

 
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 Licensee agrees not to use the
materials for research involving human subjects or clinical trials in the United States without complying with 21 CFR 50 and 45 CFR 46. Licensee agrees not to use the materials for research involving human subjects or clinical trials outside of the
United States without complying with the applicable regulations of the appropriate national control authorities.
  

14.9 Arbitration. Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by
binding arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association (“AAA”), and the procedures set forth below. In the event of any inconsistency between the Rules of AAA and the procedures
set forth below, the procedures set forth below shall control. Judgment upon the award rendered by the arbitrators may be enforced in any court having jurisdiction thereof.

 
 14.9.1 Location. The location of the arbitration shall be
in the County of San Diego.
  

14.9.2 Selection of Arbitrators. The arbitration shall be conducted by a panel of three neutral arbitrators who are independent and disinterested with
respect to the parties, this Agreement, and the outcome of the arbitration. Each party shall appoint one neutral arbitrator, and these two arbitrators so selected by the parties shall then select the third arbitrator. If one party has given written
notice to the other party as to the identity of the arbitrator appointed by the party, and the party thereafter makes a written demand on the other party to appoint its designated arbitrator within the next ten days, and the other party fails to
appoint its designated arbitrator within ten days after receiving said written demand, then the arbitrator who has already been designated shall appoint the other two arbitrators.

 
 14.9.3 Discovery. Unless the parties mutually agree in
writing to some additional and specific pre-hearing discovery, the only pre-hearing discovery shall be (a) reasonably limited production of relevant and non-privileged documents, and (b) the identification of witnesses to be called at the hearing,
which identification shall give the witness’s name, general qualifications and position, and a brief statement as to the general scope of the testimony to be given by the witness. The arbitrators shall decide any disputes and shall control the
process concerning these pre-hearing discovery matters. Pursuant to the Rules of AAA, the parties may subpoena witnesses and documents for presentation at the hearing.

 
 14.9.4 Case Management. Prompt resolution of any dispute
is important to both parties; and the parties agree that the arbitration of any dispute shall be conducted expeditiously. The arbitrators are instructed and directed to assume case management initiative and control over the arbitration process
(including scheduling of events, pre-hearing discovery and activities, and the conduct of the hearing), in order to complete the arbitration as expeditiously as is reasonably practical for obtaining a just resolution of the dispute but in any event
by the expiration of sixty (60) days from appointment of the arbitrators hereunder.
  

14.9.5 Remedies. The arbitrators shall enforce the terms of this Agreement in accordance with applicable law. The arbitrators may grant any legal or
equitable remedy or relief that the arbitrators deem just and equitable, to the same extent that remedies or relief could be granted by a state or federal court, provided however, that no punitive damages may be awarded. No court action may be
maintained seeking punitive damages. The decision of any two of the three arbitrators appointed shall be binding upon the parties.
  

14.9.6 Expenses. The expenses of the arbitration, including the arbitrators’ fees, expert witness fees, and attorney’s fees, may be awarded to
the prevailing party, in the discretion of the arbitrators, or may be apportioned between the parties in any manner deemed appropriate by the arbitrators. Unless and until the arbitrators decide that one party is to pay for all (or a share) of
such
  
 

 
21
 

   

  
 expenses, both parties shall share
equally in the payment of the arbitrators’ fees as and when billed by the arbitrators.
  

14.9.7 Confidentiality. Except as set forth below, the parties shall keep confidential the fact of the arbitration, the dispute being arbitrated, and the
decision of the arbitrators. Notwithstanding the foregoing, the parties may disclose information about the arbitration to persons who have a need to know, such as directors, trustees, management employees, witnesses, experts, investors, attorneys,
lenders, insurers, and others who may be directly affected. Additionally, if a party has stock which is publicly traded, the party may make such disclosures as are required by applicable securities laws. Further, if a party is expressly asked by a
third party about the dispute or the arbitration, the party may disclose and acknowledge in general and limited terms that there is a dispute with the other party which is being (or has been) arbitrated. Once the arbitration award has become final,
the substance of the arbitrators’ decision may be disclosed. If the arbitrators’ decision and the arbitration award are not promptly satisfied, then these confidentiality provisions shall no longer be applicable.

 
 14.10 Entire Agreement; Modification. This Agreement
sets forth the entire agreement and understanding between the parties as to the subject matter hereof. There shall be no amendments or modifications to this Agreement, except by a written document which is signed by both parties.

 
 14.11 California Law. This Agreement
shall be construed and enforced in accordance with the laws of the State of California without regard to the conflicts of laws principles thereof.

 
 14.12 Headings. The
headings for each article and section in this Agreement have been inserted for convenience of reference only and are not intended to limit or expand on the meaning of the language contained in the particular article or section.

 
 14.13 Severability. Should any one or
more of the provisions of this Agreement be held invalid or unenforceable by arbitration or a court of competent jurisdiction, it shall be considered severed from this Agreement and shall not serve to invalidate the remaining provisions thereof. The
parties shall make a good faith effort to replace any invalid or unenforceable provision with a valid and enforceable one such that the objectives contemplated by the parties when entering this Agreement may be realized.

 
 14.14 No Waiver. Any delay in
enforcing a party’s rights under this Agreement or any waiver as to a particular default or other matter shall not constitute a waiver of such party’s rights to the future enforcement of its rights under this Agreement, excepting only as
to an express written and signed waiver as to a particular matter for a particular period of time.
  

14.15 Name. Whenever there has been an assignment or a Sublicense by Licensee as permitted by this Agreement, the term
“Licensee” as used in this Agreement shall also include and refer to, if appropriate, such assignee or Sublicensee. In the event of acquisition, merger, change of corporate name, or reorganization of Licensee, Licensee shall notify TSRI
in writing within thirty (30) days of such event.
  

14.16 Attorneys’ Fees. In the event of a dispute between the parties hereto or in the event of any default hereunder, the party
prevailing in the resolution of any such dispute or default shall be entitled to recover its reasonable attorneys’ fees and other costs incurred in connection with resolving such dispute or default, subject to the provisions in Section 14.9.6
hereof.
  
 14.17 Force Majeure. In
the event either party is prevented from or delayed in the performance of any of its obligations hereunder by reason of acts of God, war, strikes, riots, storms, fires, or any other cause whatsoever beyond the reasonable control of the party so
prevented or delayed shall be excused from the performance of such obligation to the extent and during the period of such prevention or delay.
  

 
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 14.18
Notices. Any notices required by this Agreement shall be in writing, shall specifically refer to this Agreement and shall be sent by registered or certified airmail, postage prepaid, or by telefax, telex or cable, charges prepaid, or by
overnight courier, postage prepaid and shall be forwarded to the respective addresses set forth below unless subsequently changed by written notice to the other party:

 

	For TSRI:	The Scripps Research Institute
	 	Attention: Director, Technology Development
	 	10550 North Torrey Pines Road, TPC-9
	 	La Jolla, California 92037
	 	Fax No.: (858) 784-9910
	 	 
	with a copy to:	The Scripps Research Institute
	 	Attention: General Counsel
	 	10550 North Torrey Pines Road, TPC-8
	 	La Jolla, California 92037
	 	Fax No.: (858) 784-9399
	 	 
	For Licensee:	Ambrx, Inc.
	 	Attention: Chief Business Officer
	 	10410 Science Center Drive
	 	San Diego, California 92121
	 	Fax No.: (858) 630-4394

  
 Notice shall be deemed
delivered upon the earlier of (a) when received; (b) three (3) days after deposit into the mail; (c) the date notice is sent via telefax, telex or cable; or (d) the day immediately following delivery to overnight courier (except Sunday and
holidays).
  
 14.19 Compliance with U.S. Laws. Nothing
contained in this Agreement shall require or permit TSRI or Licensee to do any act inconsistent with the requirements of any United States law, regulation or executive order as the same may be in effect from time to time.

 
 IN WITNESS WHEREOF, the parties have executed
this Agreement by their duly authorized representatives as of the date set forth above.
  

	TSRI:	 	 	LICENSEE:
	 	 	 	 
	THE SCRIPPS RESEARCH INSTITUTE	 	AMBRX, INC.
	 	 	 
	By:	/s/ Arnold LaGuardia	 	By:	/s/ Troy E. Wilson
	 	 	 	 	 
	Title:	Executive Vice President	 	Title:	Chief Business Officer
	 	 	 	 	 

  
 

 
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 Exhibit
A
 Licensed Patent Rights
  

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

  

***Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

 
 

 
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